topic AMEX PLAT CS point redemption story...any other experiences?? in Credit Cards

AMEX PLAT CS point redemption story...any other experiences??

CBartowski — Wed, 06 Jun 2018 03:53:46 GMT

Hey all, so I heard a story about a guy who redeemed 1 million MR points to his Charles Schwabb account thru his AMEX Platinum and bought 9-10 shares of Amazon stock with the points as it also gave him an extra 25% through redeeming by investing.

To me this seems like an amazing way to redeem points.

My question: how often do 1 million point redemptions come up? does anyone else use the AMEX PLAT Charles Schwabb/what has your experience been?

Re: AMEX PLAT CS point redemption story...any other experiences??

Anonymous — Wed, 06 Jun 2018 03:47:59 GMT

whats the ?..he just used Invest with Rewards, got $12,500 instantly and bought whatever he wanted with it. What's the big deal? It comes up as often as people have 1 mm points they want to spend...I'm not sure what the big deal is. I don't have 1 mm points, but what's the issue.

Re: AMEX PLAT CS point redemption story...any other experiences??

CBartowski — Wed, 06 Jun 2018 03:54:34 GMT

No issue, seeing how folks' experiences have been with AMEX PLAT with Schwabb.

Re: AMEX PLAT CS point redemption story...any other experiences??

wasCB14 — Wed, 06 Jun 2018 04:15:29 GMT

We have two separate issues here: the investment return, and the use of points.

The investment return of 30% in a few months is great. It could, however, be made with cash from any source.

The use of points is harder to judge. It might be tricky for someone who rarely travels (or who can't use MRs well) to use 1 million MRs for travel.

I have the Schwab Platinum, and I very much like it. I get a lot of perks, and the credits essentially offset the AF. And I like having the 1.25 cpp floor in the event my travel slows down. But I would have to be pretty desperate to accept only 1.25 cpp when I have a good track record with using MRs for miles.

*To earn 1 million MRs, someone must earn many bonuses and/or spend a lot. By contrast, the requirements for a Schwab Platinum are relatively modest. There are special credits if a Schwab account is worth $250k ($100/yr) or $1m ($200/yr), but such balances are certainly not required to get the card.

How often do 1 million MR redemptions come up? Probably never for me. It would take me a long time to spend $1m across all cards. I don't put much spend on the Platinum (low rewards), and I redeem miles frequently for award flights. If someone else spends a lot more than me, uses the card more often, and redeems for award flights less often...then 1 million MRs is possible.

Re: AMEX PLAT CS point redemption story...any other experiences??

Peteyglad — Wed, 06 Jun 2018 12:28:33 GMT

I would think in certain circle 1 million point redemption isn't too rare. I have quarter of a million points from the last 1.5 years or so and I am by no means what you would consider a large earner. Through in business owners who run everything through their business and I would think that broadens the pool quite a bit.