100k Amex Platinum Bonus Offer

[CreditScholar]

They've been sending these out for months. I received mine back in May or so, and received another 100k offer last year. Apparently they're sending out these offers during the summer, and some have received them before others. After August I have a feeling these offers will disappear until next year, since the people getting offers in the mail now are at the tail-end of things.

[djc1puno]

That's a huge bonus!

[rkinnahan]

I've never been targeted by Amex but have always been instantly approved.  I would love to get my hands on an offer like this.  Should I start using my AMEXs less?  I have an SPG and a Hilton HHonors. 

[CS800]

I wonder if they would give the PRG holders this bonus to upgrade to the Plat. About 2 months ago, I downgraded to the PRG from the Plat.

[oscar_actuary]

when I hear 100k, I think $100,000

But what does it mean in this context?

[theeurotuner]

It means 100,000 reward points. Depending on the creditor, the value of these points are different. If I'm not mistake, 1 point = 1 cent

[Open123]

Great offer!

This one is definitely one of my favorites, and one of the *best* out there.  In my estimation, this targeted offer is better than the SPG 30K bonus.  The only one that may be marginally better is/was the 75K MR points offered for the Business/PR Gold, since the first year fee is/was waived.

Unfortunately, Amex has implemented a new rule where anyone who has had this the Plat (MB excluded) for the prior 12 months or *any* consumer charge card (again, MB excluded) within the last 90 days is excluded from any sign-up bonuses; hence, the recommendation to app for the MB Platinum rather than PC'ing to the classic Platinum or PR Golds, since not only does one get the 50K MB bonus, but also resets the 90 day rule for charge card sign-up bonus eligibility.

(1) MR points are worth anywhere from 1.5 - 3.5 cents per when used for FF programs, depending on redemption and seasonal transfer bonuses.  For example, a couple of years ago, there was an incredible 100% bonus transfer to BA.  (2) Or, when the MR Program has sale on gift cards, you can redeem Home Depot at 80% (8,000 pts for $100), and sell them at gift card exchanges.  The latter roughly translates to a little more than 1 cent per point cash redemption at or around $1,000 and change.  (3) Also, with MR First, you can use MR points for travel at a 20% bonus.  Sometimes, this can make for some good deals, but I've always found more compelling value in transferring to FF partners.

With Amex, a general rule is to PC to the Green or regular Gold, but not to the cards with the high sign-up bonuses; for the simple reason that waiting 90 days is feasible, but not 12 months.  

[bribro]

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@Open123 wrote:

Unfortunately, Amex has implemented a new rule where anyone who has had this the Plat (MB excluded) for the prior 12 months or *any* consumer charge card (again, MB excluded) within the last 90 days is excluded from any sign-up bonuses; hence, the recommendation to app for the MB Platinum rather than PC'ing to the classic Platinum or PR Golds, since not only does one get the 50K MB bonus, but also resets the 90 day rule for charge card sign-up bonus eligibility.

With Amex, a general rule is to PC to the Green or regular Gold, but not to the cards with the high sign-up bonuses; for the simple reason that waiting 90 days is feasible, but not 12 months.  

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I'm confused by this. Do you have a link to an in-depth post of some kind? Are you saying that the strategy is to apply for the Platinum card, get the 100k sign-up bonus, then immediately PC to a green or regular gold then you can apply again for a PRG Gold signup bonus after 90 days?

[CreditScholar]

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@rkinnahan wrote:

I've never been targeted by Amex but have always been instantly approved.  I would love to get my hands on an offer like this.  Should I start using my AMEXs less?  I have an SPG and a Hilton HHonors. 

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Amex is probably looking for a specific profile when deciding who is given these targeted 100k offers. If you're not receiving them, then you're probably not what they're looking for.

[Open123]

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@bribro wrote:

I'm confused by this. Do you have a link to an in-depth post of some kind? Are you saying that the strategy is to apply for the Platinum card, get the 100k sign-up bonus, then immediately PC to a green or regular gold then you can apply again for a PRG Gold signup bonus after 90 days?

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Here’s what I mean.

Per Amex’s new policy, to be considered eligible for a sign-up bonus is if you haven’t had the product for 12 months, or *any* consumer charge card the past 90 days. For some reason, the MB Platinum is considered a different product and exempted from the above exclusion.

Therefore, a way to maximize the bonus would be the following app order:

1.  Platinum for 100K bonus.

2.  Apply for the Blue for 10K MR bonus.

3.  Before annual fee is due, cancel Platinum or anytime before (Blue will keep from losing MR Points).

4.  Apply for MB Platinum for another 50K MR bonus.

5.  90 days from cancellation date of *original* Platinum, app for PR Gold for another 50K (or 75K if you have access to it) bonus.

You can app in any order, but the premise is to utilize the MB Platinum’s exclusion to maximize the sign-up bonuses within new 12 month same product and 90 day same family product exclusions.

For instance, once a cardmember PCs from the Platinum to the PR Gold, then he's excluded from both product's sign up bonuses for 12 months.  So, if the PRG is the goal, rather than PC'ing, it's better to app for the MB Platinum, wait 90 days, and sign up for the PRG's 50K bonus.  This way, you get an extra 100K MR points, $400 airline credits, and an extra year of SPG Gold, compared to a PC to the PR Gold where all you get is 0 MR points and the chance to pay the $175 annual fee.