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Yeah I hear you. Some people either treat this as their hobby and get enjoyment out of it- think "coupon clipper" type personalities or they are relatively poor and this is the only way they can travel. Nothing wrong with that but many people with high salaries frankly don't have time to churn and can make more money by spending their time actually working at their job or business. I used to be into churning quite a bit when I was "poor". But now that I pull down mid six figures, it just isn't worth my time anymore. I spend enough money on general spend as it is so I don't have to churn. I have trouble even spending the points that I earn on every day spending as it is. My hope is that someday they will abolish signup bonuses or at least limit everything to once per lifetime and just increase benefits associated with everyday spend.
Sincere congratulations for reaching this point.
You don't have to be poor to want to participate in this; if one were poor, the spend limit to be eligible for the welcome bonus would deter them from applying for this card.
How many personal platinum cards can you hold? Are you eligible for a new bonus if you already received one in the past?
No you have to wait 7 years. Nothing stopping you getting the co branded versions from Charles schwab, Morgan Stanley etc though. Or the business version.
Sapphire Preferred. 80,000 points for $ 95 fee.
Cash value as statement credit $ 800.
Net gain $ 705.
Amex Platinum. 100,000 points for $ 695.
Cash value as statement credit. $ 500.
Net loss $ 195.
Makes you think, doesn't it.
To be fair, as an ongoing card, the Sapphire Preferred has very little value except for the bonus.
Most non travelers should be able to get at least 50% of the fee back each year, using Amex credits.
I just got an Amex Gold to Platinum upgrade offer, for 75,000 points, with a low spend requirement.
Debating. I'm halfway through my spend requirement on the Sapphire Preferred $ 800 bonus. But then, what good is the card?
Sapphire Preferred. 80,000 points for $ 95 fee.
Cash value as statement credit $ 800.
Net gain $ 705.
Amex Platinum. 100,000 points for $ 695.
Cash value as statement credit. $ 500.
Net loss $ 195.
Makes you think, doesn't it.
To be fair, as an ongoing card, the Sapphire Preferred has very little value except for the bonus.
Most non travelers should be able to get at least 50% of the fee back each year, using Amex credits.
I just got an Amex Gold to Platinum upgrade offer, for 75,000 points, with a low spend requirement.
Debating. I'm halfway through my spend requirement on the Sapphire Preferred $ 800 bonus. But then, what good is the card?
Sapphire preferred is Primary auto insurance when you rent a car. UR points can be transferred to Hyatt 1:1 which is a great value- stay at the Park Hyatt Paris and you'll get 3 cents a point value. They also have pay yourself back where for certain bills you 1.25 cents for each point you pay.
If you cancel before the second year annual fee, do any unused points remain useable?
Amex pools all of your MR pts into a single rewards account under your name/SSN and you need to have at least one MR pts card open to keep your pts alive -- if you only have one MR pts card and you close it then you lose whatever pts you didn't use
I keep my Amex Everyday card open (no annual fee) just to bank my MR pts for free -- I've opened and closed other MR pts cards in the past without losing any pts (Amex Green/Gold/Plat)
Do not cancel before 1yr or else Amex will claw back the sign up bonus -- I would wait for the annual fee to post next year then cancel it (they usually refund the fee in 1-2 days so it'll even out the charge)
They might also give a retention offer to keep it another year -- some people have gotten 30k-50k pts to keep it another yr
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You don't have to be poor to want to participate in this; if one were poor, the spend limit to be eligible for the welcome bonus would deter them from applying for this card.
TIA
TIA
No you have to wait 7 years. Nothing stopping you getting the co branded versions from Charles schwab, Morgan Stanley etc though. Or the business version.
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They are fast, a few days
Sapphire Preferred. 80,000 points for $ 95 fee.
Cash value as statement credit $ 800.
Net gain $ 705.
Amex Platinum. 100,000 points for $ 695.
Cash value as statement credit. $ 500.
Net loss $ 195.
Makes you think, doesn't it.
To be fair, as an ongoing card, the Sapphire Preferred has very little value except for the bonus.
Most non travelers should be able to get at least 50% of the fee back each year, using Amex credits.
I just got an Amex Gold to Platinum upgrade offer, for 75,000 points, with a low spend requirement.
Debating. I'm halfway through my spend requirement on the Sapphire Preferred $ 800 bonus. But then, what good is the card?
Sapphire Preferred. 80,000 points for $ 95 fee.
Cash value as statement credit $ 800.
Net gain $ 705.
Amex Platinum. 100,000 points for $ 695.
Cash value as statement credit. $ 500.
Net loss $ 195.
Makes you think, doesn't it.
To be fair, as an ongoing card, the Sapphire Preferred has very little value except for the bonus.
Most non travelers should be able to get at least 50% of the fee back each year, using Amex credits.
I just got an Amex Gold to Platinum upgrade offer, for 75,000 points, with a low spend requirement.
Debating. I'm halfway through my spend requirement on the Sapphire Preferred $ 800 bonus. But then, what good is the card?
I keep my Amex Everyday card open (no annual fee) just to bank my MR pts for free -- I've opened and closed other MR pts cards in the past without losing any pts (Amex Green/Gold/Plat)
Do not cancel before 1yr or else Amex will claw back the sign up bonus -- I would wait for the annual fee to post next year then cancel it (they usually refund the fee in 1-2 days so it'll even out the charge)
They might also give a retention offer to keep it another year -- some people have gotten 30k-50k pts to keep it another yr
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