AMEX is Crazy!

[Anonymous]

Yep, I said it! They sent me an invitation to app for the AMEX Platinum card. $550 AF with 60,000 RP. LoL. What say you?

[Anonymous]

Can you swipe 4K though it in the next 3 months?  And want the AF?  

[wasCB14]

Speaking as someone unfamiliar with your credit history, spending, and preferences...why is this surprising?

[longtimelurker]

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@wasCB14 wrote:

Speaking as someone unfamiliar with your credit history, spending, and preferences...why is this surprising?

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My question exactly!

[simplynoir]

I say wait for the 100k SUB it's too valuable considering their "once a lifetime" policy.

[Anonymous]

Well, it's just strange to me coming from my credit history. 4 years ago, I was drowning deep in bad credit. Until I decided to clean it up.

I can definitely swipe 4k thru it in one month. Question is do I want to? I'm not that often, a frequent traveler, so all of those benefits are sweet and make me feel all warm and special on the inside, I can't justify it at this time. I am happy where I am at this point.
Thus far, I have accomplished two major goals: get an AMEX and Discover card.

I'd like to just chillax on the credit game for a minute and enjoy what I have so far. And as you can see there is a lot more growth able to be accomplished. And I read that they had the 100k offer just a few months ago. Now if that offer ever arrives in my mailbox. I may just have to fork over $550!

[wasCB14]

Just because it has a big AF and a lot of big spenders have one doesn't mean every Platinum has spectacular spending power. It's not a very hard card to get. It's harder to get a $9k BCP than a Platinum.

That said, with $15k in CLs between BCP and Hilton, Amex clearly seems to have some comfort with you as a customer.

[simplynoir]

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@wasCB14 wrote:

Just because it has a big AF and a lot of big spenders have one doesn't mean every Platinum has spectacular spending power. It's not a very hard card to get. It's harder to get a $9k BCP than a Platinum.

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Indeed. It's amazing the misconception some people still have with the Platinum card like only the 1% can get it. While that MIGHT have been true many years ago nowadays anyone with a decent profile and are willing to fork over the AF can get it.

[GFer]

Ouch!  Annual fees......I know these can really pay off for some, though.....!

[Anonymous]

What's the break even on platinum tho? It's a 5% airfare card. Ignoring Chase Sapphire Reserve what comes close? 3% general spend?

So a 2% difference. Most urban folks will use the Uber credit. Anyone flying just twice a year will likely use the airfare incidentals credit. So the remaining $150 / 0.02 difference = $7500 in booked airfare? Definitely NOT for everyone but since they do offer some 5% back on certain hotels, too, it isn't outrageous. And it's way way way less than $7500 if you take advantage of any of the less popular perks involved like global precheck or airport lounges.

For a family of 4+ I bet it makes sense for many.

And if you snag the 100K SUB now you can make it really work.

I'm watching for the offer weekly. I assume it's just from logging in and seeing what they're offering on the site?