topic Re: AMEX Business Platinum 250K MR SUB (Targeted) in Business Credit

AMEX Business Platinum 250K MR SUB (Targeted)

Aim_High — Wed, 11 Sep 2024 20:57:11 GMT

I feel like I'm in the "Godfather" movie ... AMEX is making me an offer I can't refuse.

I don't need either a personal or business Platinum card. It just doesn't fit me. I had considered them before but mainly for the high MR SUBs. But they just weren't lucrative enough to justify the trouble.

Last week, I got a paper mailer for 250,000 MRs for spending $15,000 in the first three months on a Business Platinum. My mailer offer is good until 10/01/2024. I am seeing the same offer on my mobile app logged into my AMEX profile (the source of the attached screen shot.). That is *HUGE.* From what I can tell, this SUB appears targeted and is very unusual. I've only seen a couple of references to such a high offer from the past*, and it usually required a LOT higher spending until this year to earn the full amount. If I go to the AMEX website without logging in, the offer is elevated but not as high as mine. The general offer is a fewer 200K points for a HIGHER spend of $20K in three months. I'm also including a screen shot I had saved on my computer of an offer from 04/2021 (which I thought was outstanding at the time) on the same card - 130K MRs for the same $15K in three months spend, so my current offer is almost DOUBLE that one!

I'm surprised they would offer this exceptional offer to me. I have a Blue Business Plus that has gotten little spend in the past 12 months and has never seen really heavy spend. Credit limit is only $10K. My reported (side) business is just a low revenue small sole proprietorship. I do have a long history with AMEX, great credit score, high primary income, a large HYSA balance, and they've seen previously heavy spend on personal cards. They've been heavily marketing business products to me including business cards and checking accounts for the past year. A few months ago, they sent me an offer for 150K MRs for the same $15K spend and an offer for 125K MRs on the Gold Business for $10K spend. I saw on thepointsguy website that as of March 2024, the best offer they had seen was, "150K bonus points: 100K after spending $5K on eligible purchases with the card in the first three months and another 50K bonus points after spending $15K total in the first three months." I emailed them my offers with screen shots showing current website and my targeted offer.

Honestly, I cannot imagine keeping this card after the anniversary but 250K MRs seems too good to ignore. Plus, it's probably a soft pull and a business account that doesn't report to my personal report as a new account, so I will probably apply. I just have to dedicate my spend to this card since $15K over three months is normally more than I spend on average for routine expenses ($5K per month.)

*2016: Member darkfrosty reported SUB (250k MR points in the first 6 months .. 50k after 5k spend and then for every other 5k purchase u get 20k MR points up to 10 times for a total of 250k MR points)

03/09/2024: Member abcdefghijklmnopqrstuvwxyz inquired about the 250K SUB (but didn't report seeing it or finding it.) Not sure where he heard about it but guessing it was another card forum.

05/05/2024: Member Drodr11 received and accepted the same 250K SUB

06/28/2024: Member bytechma received the same 250K SUB offer but was denied and apparently unsuccessful recon.

Re: AMEX Business Platinum 250K MR SUB (Targeted)

NoMoreE46 — Thu, 12 Sep 2024 00:02:03 GMT

We are like Doppelgangers

when it comes to MyFico posts @Aim_High 😃.

Re: AMEX Business Platinum 250K MR SUB (Targeted)

Aim_High — Thu, 12 Sep 2024 01:46:29 GMT

@NoMoreE46 wrote:
We are like Doppelgangers
when it comes to MyFico posts @Aim_High 😃.

Yes, we must have very similar profiles!

Re: AMEX Business Platinum 250K MR SUB (Targeted)

quikj9 — Thu, 12 Sep 2024 03:26:35 GMT

Fantastic offer! My DW just got approved for the same 250k offer last month. AMEX is really rolling out the red carpet for you.

Re: AMEX Business Platinum 250K MR SUB (Targeted)

creditrizz — Fri, 13 Sep 2024 09:39:56 GMT

That's a horseload of points, 2x what mine came with for 10k spend.

Re: AMEX Business Platinum 250K MR SUB (Targeted)

JoeRockhead — Fri, 13 Sep 2024 12:00:12 GMT

I received the same offer by mail, and although I'll agree it's a great offer for someone who can make good use of the card... and very tempting, mine went to the shredder. Seems like they are constantly sending me offers via email, snail mail and online for a variety of products. So far, I've remained steadfast in my resistance to their charms.

Re: AMEX Business Platinum 250K MR SUB (Targeted)

Aim_High — Fri, 13 Sep 2024 21:15:14 GMT

@JoeRockhead wrote:
I received the same offer by mail, and although I'll agree it's a great offer for someone who can make good use of the card... and very tempting, mine went to the shredder. Seems like they are constantly sending me offers via email, snail mail and online for a variety of products. So far, I've remained steadfast in my resistance to their charms.

Congrats on your high AMEX offer also, @JoeRockhead! My reaction up until now has been some consideration but ultimately the shredder with little hesitation. I think AMEX may have reached my "price" with this one, though. Lol. Here's my calculations.

If I keep the card - and before accounting for the $695 AF:

Earn 250,000 MR for $15,000 spend which is 16.66 MR per dollar!
At 0.6 cpp in cash value, that is worth 9.996 per dollar or 9.99% return.
At 1.0 cpp in travel though the AMEX portal, that is 16.66 cents per dollar or 16.66%.
At (up to) 2.0 cpp in travel via transfer to partners, that is worth 33.32 cents per dollar or 33.32%.

Subtracting the $695 AF and assuming I do nothing to collect any of the credits on the card, just spend for the SUB on uncategorized spend, I would earn:

250,000 MR x 0.6 cpp in cash = $1,500 less $695 = $805 profit.
250,000 MR x 1.0 cpp in AMEX travel = $2,500 less $695 = $1,805 profit.
250,000 MR x 2.0 cpp in transfer travel = $5,000 less $695 = $4,305 profit.

Any way I redeem it, I'm looking at a minimum of $800 ahead. And this is all without having to take a HP inquiry or a new account penalty on my personal credit report.

Re: AMEX Business Platinum 250K MR SUB (Targeted)n

SPChaser — Tue, 17 Sep 2024 05:07:17 GMT

Received this about 3 weeks ago after login - talk about an offer I couldn't turn down! I was not even planning on applying for any cards, let alone the Gold card; however, this offer was too good to pass up 🤣. I had been seeing others have offers for 100K with 15K spend, so I could definitely not pass on this.

Re: AMEX Business Platinum 250K MR SUB (Targeted)n

Aim_High — Tue, 17 Sep 2024 18:07:17 GMT

@SPChaser wrote:

Received this about 3 weeks ago after login - talk about an offer I couldn't turn down! I was not even planning on applying for any cards, let alone the Gold card; however, this offer was too good to pass up 🤣. I had been seeing others have offers for 100K with 15K spend, so I could definitely not pass on this.

Whoa, that's an awesome offer, @SPChaser! That's 20 MRs per dollar spend versus my 16.66, before accounting for even lower AF!! Definitely don't pass that up! AMEX had previously sent me an elevated 125K MR offer for 10K spend but it had lapsed. However, they just emailed me the offer again while this Platinum offer is pending! So in theory, if they approved it and if my spend would permit, I could do each for 375K MRs and 25K spend. I'm unlikely to do that, though, since I would have to look for spending opportunities such as prepaying expenses or making major purchases that would be challenging. The three-month time frame is the real hang-up with that idea.

Re: AMEX Business Platinum 250K MR SUB (Targeted)n

CreditCuriosity — Tue, 17 Sep 2024 18:45:42 GMT

@SPChaser wrote:
Received this about 3 weeks ago after login - talk about an offer I couldn't turn down! I was not even planning on applying for any cards, let alone the Gold card; however, this offer was too good to pass up 🤣. I had been seeing others have offers for 100K with 15K spend, so I could definitely not pass on this.

I would byte if offered this. Can swing 10k for 200k MRs. Where @Aim_High offer is too rich for my blood and the AF difference etc.

Re: AMEX Business Platinum 250K MR SUB (Targeted)n

SPChaser — Tue, 17 Sep 2024 19:40:43 GMT

@Aim_High @CreditCuriosity Yeah, there was no way in heck, I was not jumping on this . When I saw the offer on my screen, I almost jumped and told DW, there was no way we weren't getting it . With Amex having the new verbiage of possible SUB ineligiabltiy, I was somewhat concerned after having the Platinum Biz for two years, yet since this was a targets offer, I felt more assured I would be approved. Even after said approval, I had screenshotted and chatted with Amex SUB offer. Gotta say, I am still pretty high on having received and fulfilled this offer!

Re: AMEX Business Platinum 250K MR SUB (Targeted)n

CreditCuriosity — Tue, 17 Sep 2024 19:44:11 GMT

They are pushing business lines of credit on me through online and mailers for some reason i don't want a business line of credit. Also tons of personal loans as well. Why do I need a personal loan when they see I am not carrying balances :/.

Re: AMEX Business Platinum 250K MR SUB (Targeted)n

SPChaser — Wed, 18 Sep 2024 02:03:43 GMT

@Aim_High wrote:
@SPChaser wrote:

Received this about 3 weeks ago after login - talk about an offer I couldn't turn down! I was not even planning on applying for any cards, let alone the Gold card; however, this offer was too good to pass up 🤣. I had been seeing others have offers for 100K with 15K spend, so I could definitely not pass on this.
Whoa, that's an awesome offer, @SPChaser! That's 20 MRs per dollar spend versus my 16.66, before accounting for even lower AF!! Definitely don't pass that up! AMEX had previously sent me an elevated 125K MR offer for 10K spend but it had lapsed. However, they just emailed me the offer again while this Platinum offer is pending! So in theory, if they approved it and if my spend would permit, I could do each for 375K MRs and 25K spend. I'm unlikely to do that, though, since I would have to look for spending opportunities such as prepaying expenses or making major purchases that would be challenging. The three-month time frame is the real hang-up with that idea.

Now being in the Amex ecosystem, my greatest annoyance is that business offers can and do, from what I have seen, receive higher SUB offers. However, the spending timeframe is certainly shorter, which is completely understandable. Businesses should be treated differently, but that does not mean I have to like it . @Aim_High getting those 375K MRs would be amazing, yet I agree. I have done the meeting multiple SUBs at the same time thing - it can become highly annoying.