topic Re: Amex Platinum. Just too much money in Credit Cards

Amex Platinum. Just too much money

hawkins — Wed, 03 Jul 2019 18:46:06 GMT

Title says it all. Amex did their best today to try and sell the Plat to me on the phone. I considered all the options and no matter how many times I slice and dice it I simply cannot justify the AF. I already have the Biz Gold which works well for me. Dont get me wrong I think the Plat is a great card if you can justify the cost but have to wonder how many people out there just have it for the flashy looks and cannot really justify the cost. Just my 2 cents.

Re: Amex Platinum. Just too much money

Anonymous — Wed, 03 Jul 2019 18:48:38 GMT

I'm sure plenty people can justify it, just not you and me. Lol

Re: Amex Platinum. Just too much money

NRB525 — Wed, 03 Jul 2019 19:01:30 GMT

Congrats.

Re: Amex Platinum. Just too much money

vic6string — Wed, 03 Jul 2019 19:06:44 GMT

I haven't set foot on a plane in about 3 years, and have only spent about 4 days total in hotels in that time. For someone like me, it makes no sense at all. I'm a "cash back" card guy. My brother, on the other hand, had a 15 year stretch at work where he basically spent more time in the air than on the ground, travelling about 10 months a year for work. They let him use his personal card for all the trips, hotels, restaurant per-diems, etc, and reimbursed him. For someone like that it doesn't make sense to NOT have the Amex platinum. I can't begin to list all the places he and his family have been to around the world on vacation, and his reward points covered just about all of it.

@hawkins wrote:
Title says it all. Amex did their best today to try and sell the Plat to me on the phone. I considered all the options and no matter how many times I slice and dice it I simply cannot justify the AF. I already have the Biz Gold which works well for me. Dont get me wrong I think the Plat is a great card if you can justify the cost but have to wonder how many people out there just have it for the flashy looks and cannot really justify the cost. Just my 2 cents.

Re: Amex Platinum. Just too much money

KJinNC — Wed, 03 Jul 2019 19:09:38 GMT

A coworker is leaving for a job at another company, and a group of us met for a happy hour last night to celebrate that. One of my buddies paid for his drinks with a business Amex platinum card for his personal sideline business that had nothing to do with the event. I scratched my head at that one.

Re: Amex Platinum. Just too much money

Anonymous — Wed, 03 Jul 2019 19:14:33 GMT

Same with the Gold card.

Re: Amex Platinum. Just too much money

KJinNC — Wed, 03 Jul 2019 19:24:32 GMT

Gold Card is half the annual fee, and its reward structure isn't as heavily geared toward travel. I think the Gold Card makes sense for a larger percentage of the population although still probably not a majority.

Re: Amex Platinum. Just too much money

Stralem — Wed, 03 Jul 2019 19:39:00 GMT

As with all cards, it just works better for some than others.

I take it you're not part of the jetsetter crowd? If not, dropping the Plat makes total sense.

Re: Amex Platinum. Just too much money

Anonymous — Wed, 03 Jul 2019 19:40:33 GMT

@hawkins wrote:
Dont get me wrong I think the Plat is a great card if you can justify the cost but have to wonder how many people out there just have it for the flashy looks and cannot really justify the cost. Just my 2 cents.

Maybe some, but IMO the AF is probably just high enough to deter some of that (i.e. people may pay $100 for flash but not $550!) I would also think there is a group who "should" get the Plat but don't, because they don't understand all the benefits and are put off by the fee.

Re: Amex Platinum. Just too much money

wasCB14 — Wed, 03 Jul 2019 20:02:07 GMT

@Anonymous wrote:
@hawkins wrote:
Dont get me wrong I think the Plat is a great card if you can justify the cost but have to wonder how many people out there just have it for the flashy looks and cannot really justify the cost. Just my 2 cents.
Maybe some, but IMO the AF is probably just high enough to deter some of that (i.e. people may pay $100 for flash but not $550!) I would also think there is a group who "should" get the Plat but don't, because they don't understand all the benefits and are put off by the fee.

And a group that avoids AF cards altogether, regardless of value! Several on MF, actually.

Re: Amex Platinum. Just too much money

a1canesfan — Wed, 03 Jul 2019 20:18:19 GMT

If you use the benefits you’ll get a lot more out of it than the $550 AF. $200 airline credit, $200 Uber credits, $100 Saks credit alone covers $500 of it. Factor in Centurion Lounges, Priority Pass membership, automatic Gold status at Hilton, Marriott, Hertz and Exec at National...and 5x points on flights and hotels, TSA pre or Global Entry credit, etc and it’s pretty easy to get well in excess of your money’s worth out of the card.

Re: Amex Platinum. Just too much money

Anonymous — Wed, 03 Jul 2019 21:00:35 GMT

@a1canesfan wrote:
If you use the benefits you’ll get a lot more out of it than the $550 AF. $200 airline credit, $200 Uber credits, $100 Saks credit alone covers $500 of it. Factor in Centurion Lounges, Priority Pass membership, automatic Gold status at Hilton, Marriott, Hertz and Exec at National...and 5x points on flights and hotels, TSA pre or Global Entry credit, etc and it’s pretty easy to get well in excess of your money’s worth out of the card.

Exactly! It’s a great card for some.

I do see, however, some get it because it’s a nice looking card with no thought of if it actually will benefit them and if they can recoup the fee.

Re: Amex Platinum. Just too much money

Anonymous — Wed, 03 Jul 2019 21:57:31 GMT

A lot of people seem to default to 'flashy' whenever a card doesn't work within their single focus of life. I fly every 12 days and stay in hotels half of the year; I can easily see value in the Platinum. Likewise, SimpleSally that lives alone, goes nowhere, and lives in her cash-only mentality probably thinks that someone with the PRG or an even cheaper AF card is just spending money to be 'flashy'. Most credit cards aren't designed to appeal to 'everyone' and those that do tend to have garbage rewards.

Re: Amex Platinum. Just too much money

Loquat — Wed, 03 Jul 2019 22:11:30 GMT

Nothing wrong with someone getting a card simply because it's flashy and completely disregarding the benefits. It's their money and I'm not paying the annual fee so I don't have an opinion one way or the other. Besides...someone has to pay for the generous subs that we all partake of.

Re: Amex Platinum. Just too much money

wasCB14 — Wed, 03 Jul 2019 22:16:18 GMT

@Loquat wrote:
Nothing wrong with someone getting a card simply because it's flashy and completely disregarding the benefits. It's their money and I'm not paying the annual fee so I don't have an opinion one way or the other. Besides...someone has to pay for the generous subs that we all partake of.

The airfare extras and Uber credits probably wouldn't be $200 each if everyone used every dollar of them. Banks wouldn't offer 0% promos if some people didn't get end up paying interest later.

Re: Amex Platinum. Just too much money

redpat — Wed, 03 Jul 2019 23:13:30 GMT

I disagree.

Lol, I think I replied to the wrong post in my prior post. Too many vodka tonics this evening.

Re: Amex Platinum. Just too much money

Shadowfactor — Wed, 03 Jul 2019 23:14:57 GMT

You’d be surprised at how many people have the card because of blogs or flash.
Then they scrap every cent of out each credit and barely break even and think the card is great.

The reality is that not every card is for every person and that’s okay. That’s why there are so many different cards on the market geared towards all different people.

I for one atleast double my annual fee in value without even considering the $500 worth of credits a year.

IAP has saved me almost $1100 this year alone.

Re: Amex Platinum. Just too much money

FinStar — Wed, 03 Jul 2019 23:17:46 GMT

@redpat wrote:
I disagree.

Lol, I think I replied to the wrong post in my prior post. Too many vodka tonics this evening.

Here's another one

Re: Amex Platinum. Just too much money

redpat — Wed, 03 Jul 2019 23:17:58 GMT

@KJinNC wrote:
A coworker is leaving for a job at another company, and a group of us met for a happy hour last night to celebrate that. One of my buddies paid for his drinks with a business Amex platinum card for his personal sideline business that had nothing to do with the event. I scratched my head at that one.

I think he is taking that event as a business one....... = 50% deduction.

Re: Amex Platinum. Just too much money

redpat — Wed, 03 Jul 2019 23:21:40 GMT

@FinStar wrote:
@redpat wrote:
I disagree.

Lol, I think I replied to the wrong post in my prior post. Too many vodka tonics this evening.
Here's another one

Thanks fin, wow put some tonic in it next time.