topic Re: Thoughts on two Amex charge cards in Credit Cards

Thoughts on two Amex charge cards

Anonymous — Sun, 03 Jul 2016 14:00:05 GMT

I've been toying with the idea of integrating both the PRG and Schwab Plat into my daily routine. PRG for its categories and Plat for other spend. My thoughts have been while I can always get the best redemption value from transfers to partner carriers, this option also leaves me with the flexibility of cashing out to my Schwab accounts at 1.25.

I have quite a bit of travel planned for the foreseeable future so this might be the route I take. Does anyone also keep/use both Amex charge cards?

Re: Thoughts on two Amex charge cards

Anonymous — Sun, 03 Jul 2016 15:48:13 GMT

I have the Platinum and PRG and think they compliment each other nicely for my needs. The PRG is used as my daily spender for categories, unless another one of my cards will net me more point value. My Platinum gets primarily travel expenses on it and is used for the travel benefits as well. I plan on keeping both of my AMEX charge cards for awhile. I'm even toying with the idea of applying for a small business charge card for one of my side businesses. Just can't pull the trigger on it... 🤔

Re: Thoughts on two Amex charge cards

Open123 — Sun, 03 Jul 2016 15:57:33 GMT

@Anonymous wrote:
I have the Platinum and PRG and think they compliment each other nicely for my needs.

Right, unless you need the $10K purchase protection, it makes little sense to use the Plat for purchases. The card is primarily for benefits. The PRG is a much better card for rewards spending.

Re: Thoughts on two Amex charge cards

Anonymous — Sun, 03 Jul 2016 18:25:40 GMT

@Open123 wrote:
@Anonymous wrote:
I have the Platinum and PRG and think they compliment each other nicely for my needs.
+1

Right, unless you need the $10K purchase protection, it makes little sense to use the Plat for purchases. The card is primarily for benefits. The PRG is a much better card for rewards spending.

To me, the Platinum is not really even a 'spend' card. I got it and will keep it pretty exclusively for the benefits of card membership. Willing to try PRG for a spend card though to see if it matches up with my spending patterns well, or if I should stick to other cards for now.

Re: Thoughts on two Amex charge cards

Anonymous — Sun, 03 Jul 2016 21:02:21 GMT

@Anonymous wrote:
I've been toying with the idea of integrating both the PRG and Schwab Plat into my daily routine. PRG for its categories and Plat for other spend. My thoughts have been while I can always get the best redemption value from transfers to partner carriers, this option also leaves me with the flexibility of cashing out to my Schwab accounts at 1.25.

I have quite a bit of travel planned for the foreseeable future so this might be the route I take. Does anyone also keep/use both Amex charge cards?

Just doing some research for a friend who has some MR points but does not want to take gift cards or transfer to delta or get low value. Looks like opening this card would not be a terrible idea, $450 af but still has $200 airline credit per cal year, plus 40k MR points worth $500 (40k x 0.0125). So really just set up the $100 a month, and can cash out all the MRs they want....

No account opening fees, low minimum

Charles Schwab brokerage accounts feature:

No fees to open or maintain an account. Other account fees, fund expenses, and brokerage commissions may apply
$1,000 minimum investment to open an account2
Commissions: $8.95 per online equity trade3; commission-free Schwab ETF online trades in your Schwab account4"

"2. The $1,000 minimum required to open an account is waived if you set up an automatic monthly transfer of $100 through direct deposit or Schwab MoneyLink or open a Schwab Bank High Yield Investor Checking account linked to your brokerage account."

Re: Thoughts on two Amex charge cards

Anonymous — Mon, 04 Jul 2016 16:05:08 GMT

Thank you everyone for your insight!

Wanderbuilder, I've been using my PRG for a year to test out while waiving the annual fee for the first year and I must say I've been more than pleased with my experiences. Let us know if you end up trying it out!

jfriend, I opened my Schwab brokerage account because it was a requirement for their checking account. It was primarily meant to be used internationally and for when I wasn't near my CU ATM network (or was too lazy to look it up) but the customer service experience has been superior to others and has become my main house.