Amex Platinum - Elevated Welcome Offer of 175,000 Points (instead of 80,000)

Dayum...that annual fee doe. $700 annual fee, credit hit just to get $1000 back in points?

But sitll tempted. On a Rolex waitlist ($9k retail) and was told I would get it sometime this year so this might come in handy. Buy the rolex, get the $1k points and then pay off card in full in next billing statement and then close the account.......

If you like cash and don't care about points, this is not a great deal. Amex points are valuable for many things, but you only get 0.6¢ per point if you want cash. So, the 'cash only ' math:

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.

Which model is 9k rolex?

amex checking account cashout is 1c/pp, but also you can 'sell' to a broker for 1.4c/pp which is frowned upon but i've made a living doing it and i'm still in the ecosystem

Which model is 9k rolex?

are you saying you use this Amex platinum cards to transfer points for hilton and marriott stays?

Unless you don't do international travel (or heck, even a lot of domestic travel), this is a great card. You can get a lot of value from transferring points to the various airlines on offer. And there's plenty of benefits to use to get a lot of that $695 back, even if you're only doing one international trip or so per year.

Just an example - if you already pay around $20 a month (or more) for Disney/Hulu/ESPN+, well you get $20 per month for that, so $240 per year. Walmart+ (which includes Paramount+) is free, $200 credit for a 2-night hotel stay at certain hotels, which you can find in the $200-300 per night range, so equal to or nearly a free night.

And did i mention transferring to airline points? Booking with Amex travel is generally not the way to go unless you are equivalent to price on the open market (because then you get the 5x points). But if you're trying to make it to Europe or somewhere in Asia, you really can get great benefit transferring points to airlines. One way Virgin LAX to London can be as low as 9,000 points ($90 !) + $80 in tax or round trip 18,000 points + $363.

CLEAR is free (~ $200 per year) .... Centurion Lounges, Priority Pass (works for lounges, but usually not eatery discounts in terminals), Delta Lounge if your ticket is above the cheapest level, $50 Saks 5th Avenue credit 2x per year, $200 airline credit (you choose USA-based airline every January and lock it in) for bags, seat upgrades, lounges etc. And tons of offers to save some money if shopping at certain retailers / hotels, etc. No to mention great customer support and various other perks....

Even if you don't travel THAT much, this is a great card to at least have for a year or two .... plenty of people get retention offers of 20k-50k points by calling in to cancel the card before a year is up....

Care to elaborate on the 1.4c/pp? Also, the Amex Rewards Checking account gives 0.8c/pp not 1.c/pp. You may be thinking about the following: "If you have a Business Platinum Card® and an American Express Business Checking Account linked to the same Rewards Account, you can redeem up to 1 million points per calendar year at the Business Platinum Rate (1,000 points for $10 in deposits) and an unlimited number of points at the standard rate (1,000 points for $8 in deposits) thereafter." which not many people would be able to leverage.

Their was? (may still be?) 1c/pp with the Blue Biz CC as a SC, but I can't recall the details.

It's two different cards. The cash rewards you mentioned and the Premium rewards which is 2.6% on everything and 3.5% on restauraunts / travel. Its points but you can cashout the points at a penny per point.

Rolex Datejust 36 model 126334 ..smooth bezel with jubliee bracelet. This will be 2nd Rolex...already bought a submariner from the AD last year with a 3 month wait time. I'm after the green dial which is hard to come and my rep told me she can hook me up within a year. This was last year in September and I usually stop by and chat with my rep since I work in the same city.

That premium rewards card has $95 annual fee.
Also, I didn't see any card on BoA website that gives 5% on revolving categories on top of 1.5% on everyday purchase.

Sure, this card's benefits become no attractive but only for the open bonus.

Been watching Amex slowly chisel away member perks on this card while raising the annual fee to "deliver this amazing value to you." $695 AF plus $8k spend makes it tougher to swallow.