topic Re: Is the Amex Platinum Worth It? in Credit Cards

Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 03:05:53 GMT

I currently have the Amex Gold and I really like it. The rewards have been worth much more than the $250 annual fee. Amex sent me an email about a 25k point offer to get the platinum. Is it worth it? The $300 extra seems like a lot.

Edit:
The offer was for an upgrade

Re: Is the Amex Platinum Worth It?

kudosalert — Sat, 14 Dec 2019 03:02:23 GMT

If you've had your Gold for over 1 year, I would call to see if they have a retention offer for you to keep the card. Amex's website is showing a bonus of 60k MR points now for a new Platinum. I would not do an upgrade for just 25K.

For me, the Platinum would be worth it but I wouldnt keep both the Gold and Platinum at the same time.

Re: Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 03:08:16 GMT

Sorry, I meant that the offer was for an upgrade. I definitely wouldn’t keep both. I agree that the 25k isn’t worth the entire amount, but do you notice the extra benefits? Are they worth $300?

Re: Is the Amex Platinum Worth It?

Anonymous — Mon, 16 Dec 2019 18:43:49 GMT

American Express Platinum may or may not be worth it for any one individual.

Unlike competing Chase products, Amex Gold and Amex Platinum are “different” products. Platinum is not a superset of Gold... it is... different.

Under the old gift card rules and with old fee of $450 it was not so hard to justify.

The current fee of $550 seems like a lot because... it is a lot.

Add up the benefits and see whether you are likely to get more than that value.

Re: Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 03:11:42 GMT

It seems like they are advertising the platinum as a “better gold.” How different are they?

Re: Is the Amex Platinum Worth It?

DoctorManhattan — Sat, 14 Dec 2019 03:12:38 GMT

My goals is the CSR . Can’t wait until I’m worthy and the force is with me to apply. 😂

Re: Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 03:19:06 GMT

@Anonymous wrote:
It seems like they are advertising the platinum as a “better gold.” How different are they?

Anyone feel free to correct me but my understanding is that the Chase Sapphire Reserve is a strict superset of the Chase Sapphire Preferred.

Any value that Preferred provides, Reserve provides that benefit or more.

That is NOT the relationship between the Amex Gold and Amex Platinum.

Amex Platinum has a lower MR point earning rate than Amex Gold except for airfare.

Platinum does offer airline lounge access.

Gold and Platinum are in the same product family but are distinct products.

Re: Is the Amex Platinum Worth It?

Gunnerboy — Sat, 14 Dec 2019 03:21:58 GMT

Don't take that. I just received an offer to upgrade for 60,000pts. I'm mulling it over...

Re: Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 03:52:14 GMT

Platinum is a travel card, pure and simple. Gold is a daily driver. Look at the rewards structures to see that. If you fly a lot and value lounge access, Plat can be a great card. If not, Gold is likely a better fit. There is some crossover but in a nutshell that's the distinction.

Re: Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 04:05:14 GMT

Thanks. That makes sense. I’ll probably pass unless they offer me something closer to 60k points.

Re: Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 04:51:57 GMT

Considering most sub on platinum seen is 100k, I would not pull trigger for 60k sub offer. Lol

You really have to do the math and see if it makes sense. Platinum is not for everyone.

Re: Is the Amex Platinum Worth It?

355F1 — Sat, 14 Dec 2019 05:22:46 GMT

Ugh....

Super jelly.

All I get is the opportunity to upgrade my Gold without any bonus.

Re: Is the Amex Platinum Worth It?

SouthJamaica — Sat, 14 Dec 2019 12:13:26 GMT

@Anonymous wrote:
I currently have the Amex Gold and I really like it. The rewards have been worth much more than the $250 annual fee. Amex sent me an email about a 25k point offer to get the platinum. Is it worth it? The $300 extra seems like a lot.

Edit:
The offer was for an upgrade

If you really like the Gold card I think you should just stay with it.

I have a Gold card and don't really like it. I used to have a business platinum card, and didn't really like that either.

Re: Is the Amex Platinum Worth It?

Cred4All — Sat, 14 Dec 2019 13:33:45 GMT

@Anonymous wrote:
Platinum is a travel card, pure and simple. Gold is a daily driver. Look at the rewards structures to see that. If you fly a lot and value lounge access, Plat can be a great card. If not, Gold is likely a better fit. There is some crossover but in a nutshell that's the distinction.

Agree with this completely. I have the Platinum and can say it's 110% solely for the perks of travel ie: Lounges w/ Amex, lounges with Priority Pass, Delta Sky Club, 5x points for Delta and so on. I would not possess this personally myself if part of my life wasn't spent on moving walkways and tunnels in the sky. If you travel, totally worth it.

Re: Is the Amex Platinum Worth It?

Anonymous — Sat, 14 Dec 2019 15:39:06 GMT

@Anonymous wrote:
Thanks. That makes sense. I’ll probably pass unless they offer me something closer to 60k points.

I don't have either card, but if you would go for Platinum for 60K SUB, you could call them and say you'd upgrade for 60K. They could say they can check on it. The worst they can say is no.

Re: Is the Amex Platinum Worth It?

MediumReputation — Sun, 15 Dec 2019 16:59:03 GMT

Based on your questions and comments about spend, it doesn't seem like the card for you.

I travel enough per year that lounge access, airline incidentals, uber credits, etc. offset the annual fee for me. In your situation, it sounds like you will get far more value from the Gold card (this is my daily driver, all spend goes on it for me).

Re: Is the Amex Platinum Worth It?

Jccflat — Sun, 15 Dec 2019 17:36:50 GMT

Gold is the best as I do for 50k a year In grocery in work alone and I am a AU on 2 family members so I get the 4X Grocery For 50k
I think the platinum is good For a heavy traveler correct me if I’m wrong anybody?

Re: Is the Amex Platinum Worth It?

Anonymous — Sun, 15 Dec 2019 17:39:51 GMT

Nothing to correct, you’re right.

Re: Is the Amex Platinum Worth It?

UncleB — Sun, 15 Dec 2019 19:53:00 GMT

@Jccflat wrote:
Gold is the best as I do for 50k a year In grocery in work alone and I am a AU on 2 family members so I get the 4X Grocery For 50k
I think the platinum is good For a heavy traveler correct me if I’m wrong anybody?

I would just change 'traveler' to 'one who flies often', since that's where the Platinum shines (airport lounges and 5x MRs for airfare).

For someone who travels but seldom flies (like myself) the Platinum is not a good match, since there's no overall 'travel' multiplier to cover hotels, car rentals, etc. (Note that the Platinum does provide 5x on prepaid hotels via Amex Travel, but I've personally never known anyone who booked this way.)

Re: Is the Amex Platinum Worth It?

Aim_High — Sun, 15 Dec 2019 20:24:29 GMT

@UncleB wrote:
@Jccflat wrote:
platinum is good For a heavy traveler
I would just change 'traveler' to 'one who flies often', since that's where the Platinum shines (airport lounges and 5x MRs for airfare).
For someone who travels but seldom flies (like myself) the Platinum is not a good match

^ +1

Which is exactly why the Chase Sapphire Reserve is a better fit for the general-purpose traveler like myself who spends as much or more on hotels, rental cars, tolls, and other travel-related expenses than he does on airfare. Platinum is great for the frequent business flyer. Gold is good for dining/daily driver. CSR with 3 pts (4.5 UR) on dining plus 3 pts (4.5 UR) on a wide range of travel covers both niches well.