American Express currently has an offer for 175,000 Membership Rewards® Points (instead of the typical 80,000) on the Platinum card after you spend $8,000 in the first 6 months of membership.
A note on the website implies this is a limited-time offer: "This offer may not be available if you leave this web page and return later."
https://www.americanexpress.com/u.../platinum/
Note: This offer may not be available for everyone.
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Haven't spent a single dollar on travel in over five years, never used doordash or grubhub, and most of their gift cards are for vendors I don't shop at. That plus crappy cash value and a real risk you'll pay a $695 annual fee and then they'll decide you aren't eligible for the bonus and be screwed.
Better off with a more typical $200-$300 bonus from a Visa or MC with no annual fee.
175,000 x $0.006 = $1,050
Less:
- $695 annual fee
- Apx $112 opportunity cost for spending $8000 on a card, getting 0.6%cb when you would have gotten about 2%cb.
That's $243, similar to most sign up bonuses.
Plus, the cash back is a statement credit, not cash, so you may have to spend a little more on the card to spend down the credit.
I'm waiting for a boosted sign up bonus on the AMEX Schwab Platinum card. It gives 1.1¢ cash back per point, deposited directly into your Schwab account.
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I have seen this targeted offer since Jan 2024.
https://www.americanexp
https://www.americanexp
175,000 x $0.006 = $1,050
Less:
- $695 annual fee
- Apx $112 opportunity cost for spending $8000 on a card, getting 0.6%cb when you would have gotten about 2%cb.
That's $243, similar to most sign up bonuses.
Plus, the cash back is a statement credit, not cash, so you may have to spend a little more on the card to spend down the credit.
I'm waiting for a boosted sign up bonus on the AMEX Schwab Platinum card. It gives 1.1¢ cash back per point, deposited directly into your Schwab account.
And most other cards dont have things like streaming service statement credits that also add value
https://www.americanexp
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