topic Re: Centralizing all spending on the Amex Platinum? in Credit Cards

Centralizing all spending on the Amex Platinum?

Anonymous — Sun, 23 Aug 2020 12:18:46 GMT

Friends,

Thanks for discouraging me from using my US Bank PLOC for everything.

Wondering if it's possible to use my Amex Platinum card for everything?

How do I pay bills that don't accept American Express?

ASAIK, the following bills of mine can't be paid w/ Amex.

Water

Gas

Electric

I've heard of workaround services like Plastiq. Do they work? How?

I'm really just looking for a way to centralize spending while maintaining credit. Plan to pay off in full every month.

Re: Centralizing all spending on the Amex Platinum?

Anonymous — Sun, 23 Aug 2020 12:52:35 GMT

Other than for airfare, the Amex Platinum card has a lower rewards rate than many no-fee cards.

What matters is what works for you but I would suggest diversifying at least to another Amex credit card if not to other card issuers.

The more that you use any card, the more opportunity there is for fraudulent charges.

You will want another card even if it is for a backup to use when you are getting a replacement card for a card that was used fraudulently.

Re: Centralizing all spending on the Amex Platinum?

Anonymous — Sun, 23 Aug 2020 13:00:06 GMT

I understand and appreciate what you're saying. I was mostly wondering about the logistics of how to do it?

Sorry for all my newbie questions.

Peter

Re: Centralizing all spending on the Amex Platinum?

SouthJamaica — Sun, 23 Aug 2020 13:14:10 GMT

@Anonymous wrote:
Friends,

Thanks for discouraging me from using my US Bank PLOC for everything.

Wondering if it's possible to use my Amex Platinum card for everything?

How do I pay bills that don't accept American Express?

ASAIK, the following bills of mine can't be paid w/ Amex.

Water
Gas
Electric

I've heard of workaround services like Plastiq. Do they work? How?

I'm really just looking for a way to centralize spending while maintaining credit. Plan to pay off in full every month.

P

If you want to centralize spending on a single card I think you would be better off with a Visa or Mastercard.

Then I would figure out whether you prefer cash back or travel, and go with your preference.

Forget Plastiq, it's not worth the complication, it charges fees, it causes delays, and it certainly doesn't help you centralize.

Re: Centralizing all spending on the Amex Platinum?

Anonymous — Sun, 23 Aug 2020 13:20:34 GMT

Plastiq fee for using a credit card in the United States is 2.85%.

Unless you are trying to reach minimum spend for a sign up bonus, rewards rate for anything but airfare will tend to be less than that but for airfare you can use Amex card directly.

For a great many of our recurring charges such as cable / internet / phone Amex is perfectly fine.

Supermarkets I shop at all accept Amex, but Amex Blue Cash Everyday is a better card for grocery shopping than Amex Platinum.

Re: Centralizing all spending on the Amex Platinum?

Anonymous — Sun, 23 Aug 2020 13:25:58 GMT

Personally, if I was going to move spend to one card in the Amex Ecosystem, I would move it to a Blue Business Plus (2 MR/$) or the Everyday Preferred (1.5 MR/$, plus bonus categories). If I was going to move spend to one card in a cash back system, I would pick one of the available 2% cards with no AF or something like the Alliant Visa Sig. if my spend was high enough to make it make sense.

Logistically speaking, if you were to move spend to one Amex you'd do just that. Use it for everything. I am uncertain where you live, but in my two years of using primarily Amex in a big city I've never had someone not take it. I do always carry one Visa in case that happens though.

As others have said in regards to bills, I'd avoid plastiq if the plan was to use a Platinum. You're losing more than you gain. Visa/MC or a good ole bank transfer or check would work best there.

Re: Centralizing all spending on the Amex Platinum?

wasCB14 — Sun, 23 Aug 2020 14:11:59 GMT

Some people do steer most spend to Platinum, and then use that spend as leverage to get a nice retention offer every 24 months. The overall earning rate is nothing amazing but it is simple.

Plastiq fees are high and mailing a check often isn't practical. You can go the debit route but might as well earn some basic rewards on a MC or V credit card.

Re: Centralizing all spending on the Amex Platinum?

coldfusion — Sun, 23 Aug 2020 14:41:34 GMT

@Anonymous wrote:
Friends,

Thanks for discouraging me from using my US Bank PLOC for everything.

Wondering if it's possible to use my Amex Platinum card for everything?

How do I pay bills that don't accept American Express?

ASAIK, the following bills of mine can't be paid w/ Amex.

Water
Gas
Electric

I've heard of workaround services like Plastiq. Do they work? How?

I'm really just looking for a way to centralize spending while maintaining credit. Plan to pay off in full every month.

P

As you've discovered, if you want to focus on using a single card as a Swiss Army Knife of sorts a card that uses the AMEX payment network is not going to be the best choice. As others have already pointed out Plastiq brings with it a number of nuisances as well.

Since the 3 things you listed that you can't pay directly with an AMEX are all utilities a simple option would be to pick up a USBank Cash+ and select utilities as your 5% cashback option for up to $2500 in spend per quarter, and use it for those other times when a given merchant doesn't accept AMEX but does accept Visa either when shopping online or in person.

Re: Centralizing all spending on the Amex Platinum?

Anonymous — Sun, 23 Aug 2020 14:44:42 GMT

thanks for your help. I'll try this approach, (Cash+ and Amex Plat)

Peter

Re: Centralizing all spending on the Amex Platinum?

kdm31091 — Sun, 23 Aug 2020 19:30:09 GMT

You could probably do the majority of your spend on the Platinum, but you'd want a backup for instances where Visa/MC are not taken (this seems to be less of an issue than it was in the past, but still happens).

As others stated, it's not optimal from a rewards perspective, but you could do it. Plenty of consumers use debit for everything and are getting zero rewards, so you're still ahead of a lot of people even without optimizing.

Re: Centralizing all spending on the Amex Platinum?

UpperNwGuy — Sun, 23 Aug 2020 23:10:04 GMT

Amex Platinum is a travel card. It doesn't make sense to use it for all your everyday spending. Do you travel? If not, cancel the Platinum. If you do travel, keep the Platinum, but get another card to use for better rewards on gas, groceries, dining, etc.