PRG 50K - should I bite?

[Anonymous]

Current credit status - 

Scores

TU 769

EX 772

EQ 757

Cards

CSP $8K 

Freedom $3.7K

WF secured $500

Latest credit inquiry - 1 month ago (bought a new car)

AAoA - 1 year 3 months, last card: CSP Feb 2015

I got the 50K PRG offer. Is it worth it? Would love to learn from the gurus!

[Anonymous]

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@Anonymous wrote:

Current credit status - 

Scores

TU 769

EX 772

EQ 757

Cards

CSP $8K 

Freedom $3.7K

WF secured $500

Latest credit inquiry - 1 month ago (bought a new car)

AAoA - 1 year 3 months, last card: CSP Feb 2015

I got the 50K PRG offer. Is it worth it? Would love to learn from the gurus!

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Yes that offer is a very good one and about the best you'll see for that card.  Bonuses for Amex cards are once in a lifetime so keep that in mind.  As for whether it's worth it, that depends on your spending habits, etc.  This is a charge card meaning that you have to pay the balance in full each month.  If you're not familiar with the rewards programs for American Express please familiarize yourself with the link below.  Amex reward points are best used for transfer to travel partners so it's imprtant to look at those options and if they fit into your needs.  Also familiarize yourself with the benefits for this card as it comes with a $195 annual fee.  I say to familiarize yourself with these aspects of the card because we have far too many people that apply for this and the Platinum card and then come here and say something to the effect of 'how do you use these points'.  Like any card that you apply for, you should learn their costs and benefits before applying so I give you credit for asking beforehand.  Ultimately the 'worth' of the card and its bonus is something that only you can determine.  It's a good card and bonus if you can use and take advantage of the posts and benefits.  If you decide to apply good luck.

https://rewards.americanexpress.com/myca/loyalty/us/catalog/mrhome.do

https://www.americanexpress.com/us/credit-cards/premier-rewards-gold/

[Anonymous]

That's the best offer that PRG has had in the past, that I know of (and is the offer I used to get one). The PRG was my first Amex card, and I liked it so much I went back for more. Ultimately it'll depend on whether you have any use for Membership Reward points. Personally I use my PRG to accrue Delta points faster than I would anywhere else (except for the EDP--I just don't see me using that card enough to get the extra bonus though) and my CSP/FU/Freedom cards to accrue Hyatt and Southwest points. It's up to decide whether the PRG reward structure fits into your overall strategy. The last thing you want to wind up with 50k points you don't know how to use, a card you don't feel motivated to spend on, and a $195 AF in a year if you don't actually like the card.

For what it's worth, the PRG is my favorite Amex card I have.

[Anonymous]

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@Anonymous wrote:
That's the best offer that PRG has had in the past, that I know of (and is the offer I used to get one). The PRG was my first Amex card, and I liked it so much I went back for more. Ultimately it'll depend on whether you have any use for Membership Reward points. Personally I use my PRG to accrue Delta points faster than I would anywhere else (except for the EDP--I just don't see me using that card enough to get the extra bonus though) and my CSP/FU/Freedom cards to accrue Hyatt and Southwest points. It's up to decide whether the PRG reward structure fits into your overall strategy. The last thing you want to wind up with 50k points you don't know how to use, a card you don't feel motivated to spend on, and a $195 AF in a year if you don't actually like the card.

For what it's worth, the PRG is my favorite Amex card I have.

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Fair point, the $195 is too much money! I also see Mileageplus explorer 50K miles prequalified in the mail. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:
That's the best offer that PRG has had in the past, that I know of (and is the offer I used to get one). The PRG was my first Amex card, and I liked it so much I went back for more. Ultimately it'll depend on whether you have any use for Membership Reward points. Personally I use my PRG to accrue Delta points faster than I would anywhere else (except for the EDP--I just don't see me using that card enough to get the extra bonus though) and my CSP/FU/Freedom cards to accrue Hyatt and Southwest points. It's up to decide whether the PRG reward structure fits into your overall strategy. The last thing you want to wind up with 50k points you don't know how to use, a card you don't feel motivated to spend on, and a $195 AF in a year if you don't actually like the card.

For what it's worth, the PRG is my favorite Amex card I have.

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Fair point, the $195 is too much money! I also see Mileageplus explorer 50K miles prequalified in the mail. 

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It's not too much money if you use the card and it's benefits.  It comes with an annual $100 airline credit that effectively reduces your AF to $95 and those 50K MR points if used smartly can be worth in excess of $1K.  Too many people see AFs and incorrectly assume the card is too 'expensive'.  It's why you need to look into the benefits of the card before making a decision.  The United card while also a good card has a $95 AF after the first year.

[Anonymous]

And before applying for that 50K miles offer from United,  log into your United account if you have one, as they are running a targeted offer for many people of 70K miles.

[newhis]

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@Anonymous wrote:

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@Anonymous wrote:

Fair point, the $195 is too much money! I also see Mileageplus explorer 50K miles prequalified in the mail. 

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It's not too much money if you use the card and it's benefits.  It comes with an annual $100 airline credit that effectively reduces your AF to $95 and those 50K MR points if used smartly can be worth in excess of $1K.  Too many people see AFs and incorrectly assume the card is too 'expensive'.  It's why you need to look into the benefits of the card before making a decision.  The United card while also a good card has a $95 AF after the first year.

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 +1

PRG AF first year $0. So if you keep the card for 2 years, you get 50K MR points that at least is $500 in gift cards. $100 'airline' credit for 2016, 2017 and 2018 (before canceling the card), so that's $300. Only $195 AF for first 2 years.

Someone said the promo is once in a lifetime, and it sure is.

[RonM21]

All depends on your spend and potential use of it to determine if it is worth it. Nice offer, but is it worth it to you, is the important thing.

[Anonymous]

Yes. As long as there arent any other chase cards that you need.  I would pair it with a amex mercedes 75k plat offer, or a revolver like the ED or EDP.

See if you have any prequalified offers, if you are lucky you could get 30k on the EDP, or IMO even better 25k on the ED then you have a no AF place to park points if you decide to close the PRG

[Anonymous]

That'll be as good as you'll get for the PRG. As someone else had mentioned, be sure to sign up for any Chase cards you may want first. I heard they are now enforcing their 5/24 pretty hard.