cancel
Showing results for 
Search instead for 
Did you mean: 

AMEX Platinum 100K MR Points for 3K spend, available to all

tag
Anonymous
Not applicable

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


@CreditPhoenix wrote:

Hi Everyone,

 

Sorry, I'm new to all of this and am looking to get a new credit card.

 

I'm trying to figure out how the 100K points is so great when paired with a $450 annual fee?  What are the points worth in cash or what can they be used for in travel?  Also, do I need to be signed up for some other sort of Rewards Program before applying for this card?

 

What are the other benefits to having an AMEX Platinum card?

 

Thanks.


This card is geared for people who travel so if you were applying for cash I would pass on it.

Message 91 of 745
Anonymous
Not applicable

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


@CreditPhoenix wrote:

Hi Everyone,

 

Sorry, I'm new to all of this and am looking to get a new credit card.

 

I'm trying to figure out how the 100K points is so great when paired with a $450 annual fee?  What are the points worth in cash or what can they be used for in travel?  Also, do I need to be signed up for some other sort of Rewards Program before applying for this card?

 

What are the other benefits to having an AMEX Platinum card?

 

Thanks.


First thing you need to do is review the page describing the card and go from there.

 

https://www.americanexpress.com/us/mobile/credit-cards/platinum-card/28004?linknav=us-ccsg-prospectr...

Message 92 of 745
CreditPhoenix
Established Member

Re: AMEX Platinum 100K MR Points for 3K spend, available to all

Thank you both.

Message 93 of 745
red259
Super Contributor

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


@Anonymous wrote:

@CreditPhoenix wrote:

Hi Everyone,

 

Sorry, I'm new to all of this and am looking to get a new credit card.

 

I'm trying to figure out how the 100K points is so great when paired with a $450 annual fee?  What are the points worth in cash or what can they be used for in travel?  Also, do I need to be signed up for some other sort of Rewards Program before applying for this card?

 

What are the other benefits to having an AMEX Platinum card?

 

Thanks.


First thing you need to do is review the page describing the card and go from there.

 

https://www.americanexpress.com/us/mobile/credit-cards/platinum-card/28004?linknav=us-ccsg-prospectrwd-list-details-Plat


+1 the AF can be worth it if you are going to redeem points and utilize some of the benefits. If your not into travel or will not travel to the locations the airline partners fly to then its probably a pass. 

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019
Message 94 of 745
Anonymous
Not applicable

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


@CreditPhoenix wrote:

Thank you both.


You're welcome.  Before you even consider applying learn as much as you can from their site about the credit card and their rewards programs called MR points.  This is a very good offer even with the high AF but as said above unless you travel it's probably not the card for you.

Message 95 of 745
Anonymous
Not applicable

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


@CreditPhoenix wrote:

Hi Everyone,

 

Sorry, I'm new to all of this and am looking to get a new credit card.

 

I'm trying to figure out how the 100K points is so great when paired with a $450 annual fee?  What are the points worth in cash or what can they be used for in travel?  Also, do I need to be signed up for some other sort of Rewards Program before applying for this card?

 

What are the other benefits to having an AMEX Platinum card?

 

Thanks.


100k MR points can be very valuable, but at the very least it has a $1000 value if you use pay with points. The Plat card has other benefits like lounge access, airline incidental credit ($200 a year), and other benefits. The big deal about the 100k points though is if you use it to transfer to a transfer partner and use it for flying international first and business class. 100k points is on the low side for top end redemptions, but if you go to 120-200k points you start seeing some of the top tier redemptions (first class international trips or business class). These flights might cost 120k-200k points but cost 5-10k to buy. Thus, you could theoretically get a $10k ticket for 200k points or 5 cents per point in value. Most of us don't find those kind of redemptions, but I have an average redemption value of over 3 cents per point for UR points (Chase). MR points are similar (if slightly worse IMO). 3 cents per point would make 100k points worth $3k (or $2k if you value MR points closer to 2 cents per point like most). At the very least, however, the 100k points is worth $1k. 

 

Don't jump and get the card unless you can afford a new inquiry/account and think the MR points are valuable. For me, the Plat card is useful because I can use a lot of its perks. While the perks themselves are probably not worth the AF, the perks plus the airline credit probably is worth the AF. The points are just bonus and I avoided applying for this card because I wanted the 100k offer. 

Message 96 of 745
jsucool76
Super Contributor

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


@Anonymous wrote:

@CreditPhoenix wrote:

Hi Everyone,

 

Sorry, I'm new to all of this and am looking to get a new credit card.

 

I'm trying to figure out how the 100K points is so great when paired with a $450 annual fee?  What are the points worth in cash or what can they be used for in travel?  Also, do I need to be signed up for some other sort of Rewards Program before applying for this card?

 

What are the other benefits to having an AMEX Platinum card?

 

Thanks.


This card is geared for people who travel so if you were applying for cash I would pass on it.


While the card costs $450 you can recoup that VERY easily

 

1. 100,000 points (really 103,000 after hitting spend requirement) can be transferred to american expresses transfer partners. Here you can get tremendous value if you do your research and check everything/find availability. The points can be used in other ways but the value will diminish greatly. 

 

2. $200 airline incidental credit. This (while you're not supposed to) can be used to purchase airline gift cards. It is also $200 per CALENDAR year, meaning you can use it now, and on january 1, 2016, use it again. That is $400. 

 

3. TSAPrecheck/Global Entry Credit - This is worth up to $100 (I highly suggest going for global entry as opposed to precheck, as GE includes TSA Pre)

 

4. Delta Sky Club Access - This is only while flying on delta, but a membership would cost you the same amount as this card by itself

 

5. Centurion Lounge Access - There isn't a whole lot of cent lounges, but they're pretty dope

 

6. SPG Gold Status - Can be pretty valuable as it offers room upgrades and increased point earning during SPG stays. 

 

7. FHR - The Amex Platinum Fine Hotels and Resorts program can offer you benefits at tons of hotels, though most will be your more pricey luxury hotels, but the benefits can be great. 

 

8. Priority Pass Airport Lounges - While they don't allow free guests with the amex PP membership, it's still a nice perk if you travel solo. 

 

9. Airspace Lounges - There's a few of these around, I know a few are joint airspace/admiral's club lounges. Just another lounge perk. 

 

10. Amex Offers - While available on all amex cards, it can still help you recoup the fee of the plat card. Some of these offers are FANTASTIC and they're super easy to redeem. And remember, small business saturday is coming up soon =] 

 

Hope this info helps. 

Message 97 of 745
Kenny
Moderator Emeritus

Re: AMEX Platinum 100K MR Points for 3K spend, available to all

Can't get it to show up for me no matter what. lol
Message 98 of 745
Anonymous
Not applicable

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


@Kenny wrote:
Can't get it to show up for me no matter what. lol

Took me about 5 tries using Chrome incognito mode using the link provided towards the bottom of the first page.

 

 

Edit: Link I used - https://www.americanexpress.com/us/credit-cards/platinum

Message 99 of 745
BottomRanker
New Contributor

Re: AMEX Platinum 100K MR Points for 3K spend, available to all


Random83 wrote: 100k MR points can be very valuable, but at the very least it has a $1000 value if you use pay with points..

Not sure what "pay with points" you're looking at, but MR points are only worth 0.6 cents against charges on your statement.

Message 100 of 745
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.