topic Re: Should I accept it??? in Credit Cards

Should I accept it???

KingJaffeJo — Thu, 23 Feb 2023 17:20:10 GMT

Soooo....Ive burned Amex in the past. It was over 12 yrs ago. Haven't tried to get back in with them since. Well just for fun after getting my credit back up to the 800's I tried to apply for the platinum card with no credit pull on their website despite people saying that once you burn them it's almost impossible to get back in with them. After putting in my info it says that I was approved! I just had to accept the offer. Once I accept, then the hard credit pull would take place. Well I withdrew my application after it was accepted because I noticed it was only for 80k worth of pts and I REALLY just wanted to see if I would get denied or not since it wasn't a ding on my credit. After I withdrew and went back to the page again, the 80k offer jumped to 125k reward pts.

My wife has the gold card and she had gotten offers for the platinum upgrade previously. We are looking to travel more this year and going forward so my question is should I jump on this offer or just have her upgrade her gold card? We mainly use the gold for grocery shopping and eating out.

BTW....we have no travel rewards card at the moment. I just got an email to upgrade my QS to either a venture card or Venture one card. I was going to upgrade and hopefully PC to a venture X after abt 6 months if possible.

Thoughts?

Re: Should I accept it???

MarkintheHV — Fri, 24 Feb 2023 10:28:57 GMT

If you are interested in the lounge access portion of the card, make sure you understand that it is not free for your wife if she is with you. It used to be that as long as they were with you, you could get them into the lounge for no charge. Also, reading on Flyertalk and seeing for myself in Atlanta, there are huge lines to get into the lounges.....that perk is no longer worth it to me. I am actually going to downgrade my platinum to gold once my annual fee comes due. The credit card companies (i.e. Amex) have oversold the lounge access benefit, and now the lounges are overcrowded. The Delta lounges used to be a nice quiet place to relax in between flights, but now, its loud and noisy.

There are some other benefits that are attractive, but, not worth the $695 annual fee unless I can get into the lounges without having to wait 30-45 minutes.

Re: Should I accept it???

Mdowning30 — Thu, 23 Feb 2023 18:18:49 GMT

The Venture X would probably be better for the both of you as it will cost half as much if that matters.

Re: Should I accept it???

KingJaffeJo — Thu, 23 Feb 2023 18:30:33 GMT

Sheesh!! 30-45 min wait to get in the lounges now? I haven't been in a lounge in abt 8yrs. I had the United card back then and loved it! Didnt know that it wasn't free for her any longer. Last I checked it was free for up to 2 guests and $50 for each additional guest. This was just on NerdWallet today. I haven't seen any changes on any other sites either. We are looking to do more international travel with my 2 yr old so I figured that this would be perfect. But if they are overcrowded...then hmmm.

Re: Should I accept it???

KingJaffeJo — Thu, 23 Feb 2023 19:01:21 GMT

The only problem with that is that the Venture X wouldn't be obtainable for almost 6+months. I was only approved for the venture one or venture upgrade without a hard pull. At this point I don't want to apply for Venture X as they might deny me for some crazy reason and then I'll have a ding on my report.

Re: Should I accept it???

Hex — Thu, 23 Feb 2023 19:53:13 GMT

It depends on if the AF is worth the benefits for you. It nice that they increased the SUB offer for you.

Re: Should I accept it???

Janneman — Thu, 23 Feb 2023 22:03:45 GMT

In my opinion, if OP or his wife does want to get Amex Platinum card then they should opt for the offer of 150k points which they can very easily get referral from many people, including by myself if this site allows it. Once either of you get approved for this card with 150k points then other should get a referral from the one who would get approved first..This way both of you can easily get tons of MR points...OP's wife should not go for upgrade because they offer very few MR points during upgrade....and OP shouldn't get 125k offer when 150k offer is widely available everywhere...

Further, AF is not really worth the benefits in 93% of cases (reported in USA newspaper) especially after one year (after obtaining SUB)...This card is definitely not for you if you don't travel often. I got this card and I have and still ripping off its all its benefits...I have already got more than $3k worth of benefits...So, its AF is worth to me....but its not for you then you can cancel or downgrade or get some good retention offer...I have no intention to cancel or downgrade this card...I love this card very much and use it all the time....I already got more than 500k MR points on my this card while card is opened only 6 months ago.....

Re: Should I accept it???

KingJaffeJo — Fri, 24 Feb 2023 00:37:31 GMT

We are definitely looking to travel more for sure. I thought the 125k offer was good since I originally started out with 80k in pts.

How can I go abt getting the 150k in pts offer? If I could get that I'd definitely do it.

I wouldnt have us both get the card simply because of yearly fee. We definitely wouldnt spend that much in order to get the benefits on both cards.

Re: Should I accept it???

OmarGB9 — Fri, 24 Feb 2023 00:46:27 GMT

So Venture X is obviously more affordable, but also doesn't give you as many perks, and there aren't nearly as many Capital One lounges as Centurion lounges. That said, you also wouldn't be able to get it from a PC unless it's offered to you, which could take months or years, if they offer it at all. You'd be better off just applying for a new account. Plus if you apply for a new card, you could qualify for the SUB.

Amex Platinum is definitely for heavy travelers. I got one to try it out, but I'll likely downgrade to Gold my second year. I don't travel nearly enough, although all the different credits are nice.

ETA: @Janneman, referrals are NOT allowed on MyFICO.

Re: Should I accept it???

KingJaffeJo — Fri, 24 Feb 2023 00:52:26 GMT

Is there any downside to trying it and then downgrading later on if its not for me?

Re: Should I accept it???

OmarGB9 — Fri, 24 Feb 2023 00:59:41 GMT

@KingJaffeJo wrote:
Is there any downside to trying it and then downgrading later on if its not for me?

No, that's fine, just don't cancel/downgrade before the second year.

Re: Should I accept it???

KingJaffeJo — Fri, 24 Feb 2023 01:12:25 GMT

So let it renew and then downgrade or cancel?

Re: Should I accept it???

Janneman — Fri, 24 Feb 2023 01:22:35 GMT

@KingJaffeJo wrote:
Is there any downside to trying it and then downgrading later on if its not for me?

You can downgrade or even cancel any card without having any negative impact...

Since referrals seem to not allowed on this site then there are so many sites out there...Just google about the referral...500 sites/referrals will pop up...

Re: Should I accept it???

OmarGB9 — Fri, 24 Feb 2023 01:45:12 GMT

@KingJaffeJo wrote:
So let it renew and then downgrade or cancel?

Correct. As long as you do it within 30 days of the AF posting, you can get it refunded.

Re: Should I accept it???

OmarGB9 — Fri, 24 Feb 2023 01:48:41 GMT

@Janneman wrote:
@KingJaffeJo wrote:
Is there any downside to trying it and then downgrading later on if its not for me?
You can downgrade or even cancel any card without having any negative impact...

Sure you can cancel or downgrade at any time. But it's not true that there wouldn't be a negative impact if you cancel/downgrade before the card renews.

Amex can clawback your SUB (yes, even if you've already spent it. It would put you in the negative) and/or blacklist you on future SUBs for an indefinite amount of time.

Re: Should I accept it???

ptatohed — Fri, 24 Feb 2023 02:23:24 GMT

@KingJaffeJo wrote:
Is there any downside to trying it and then downgrading later on if its not for me?

Yes, the humongous annual fee is not waived the first year.

Re: Should I accept it???

7774x — Fri, 24 Feb 2023 05:58:42 GMT

@MarkintheHV wrote:
If you are interested in the lounge access portion of the card, make sure you understand that it is not free for your wife if she is with you. It used to be that as long as they were with you, you could get them into the lounge for no charge. Also, reading on Flyertalk and seeing for myself in Atlanta, there are huge lines to get into the lounges.....that perk is no longer worth it to me. I am actually going to downgrade my platinum to gold once my annual fee comes due. The credit card companies (i.e. Amex) have oversold the lounge access benefit, and now the lounges are overcrowded. The Delta used to be a nice quiet place to relax in between flights, but now, its loud and noisy.

There are some other benefits that are attractive, but, not worth the $695 annual fee unless I can get into the lounges without having to wait 30-45 minutes.

Put the wife on card as an AU .. gets into clubs without extra charge .. but added fee on card

Re: Should I accept it???

MarkintheHV — Fri, 24 Feb 2023 10:51:06 GMT

@Janneman wrote:
In my opinion, if OP or his wife does want to get Amex Platinum card then they should opt for the offer of 150k points which they can very easily get referral from many people, including by myself if this site allows it. Once either of you get approved for this card with 150k points then other should get a referral from the one who would get approved first..This way both of you can easily get tons of MR points...OP's wife should not go for upgrade because they offer very few MR points during upgrade....and OP shouldn't get 125k offer when 150k offer is widely available everywhere...

Further, AF is not really worth the benefits in 93% of cases (reported in USA newspaper) especially after one year (after obtaining SUB)...

You have to really work all of the perks to get your moneys worth. I get the montly streaming discount which is $20/month off streaming (I use it for my Sirius radio), then there is the $15 monthly credit for Uber eats. If you get the Walmart+ freebie, that plan gives you Paramount+ TV for free. That right there is $420 worth of perks. I think I would rather get the better dining/groceries 4x points from the gold and only pay the $250 (they give you $10/month on Uber eats) for the better everyday spend.

YMMV, but, as I said in previous post, the lounge benefit was what I wanted again, but, now, it isnt that great since I can go find a restraunt, eat, relax without having to wait in those long slow moving lines at the Delta and Centurian clubs

Re: Should I accept it???

K-in-Boston — Fri, 24 Feb 2023 13:58:06 GMT

I would definitely go for a new application with a Welcome Offer if the card makes sense. Since your spouse is the primary on the Gold and you seem to be earning quite a few MRs with it from restaurant and grocery spend, you may consider having her apply for the card instead to pool MRs together, though. Adding an AU card (you can add 1 to 3 cards for a single $175 additional annual fee) would give the other spouse lounge access, as well as the numerous hotel and car rental statuses if you don't already hold them.

As for lounge wait times, while that's been talked about quite a bit, my own experience is that I have seen a line a grand total of one time. That was at SEA for the Centurion Club, and I literally walked next door to the SkyClub and went right in with no wait. Again, it's just my own experience and I am not living out of a suitcase for work or anything, but I do fly enough to at least earn Platinum Medallion with Delta organically, even during the height of the pandemic. Amex and Delta have both taken recent measures (some rather extreme like Delta not giving lounge access to their own frequent flyers on international economy flights, unless the flyer has other access like a paid SkyClub membership, Delta Reserve card, Amex Platinum/Centurion card, etc.) to reduce overcrowding as well.

I'd also echo to wait until you have been charged for the 2nd AF before even considering closing or downgrading an Amex card.

Re: Should I accept it???

AzCreditGuy — Fri, 24 Feb 2023 16:34:20 GMT

@KingJaffeJo wrote:
Soooo....Ive burned Amex in the past. It was over 12 yrs ago. Haven't tried to get back in with them since. Well just for fun after getting my credit back up to the 800's I tried to apply for the platinum card with no credit pull on their website despite people saying that once you burn them it's almost impossible to get back in with them. After putting in my info it says that I was approved! I just had to accept the offer. Once I accept, then the hard credit pull would take place. Well I withdrew my application after it was accepted because I noticed it was only for 80k worth of pts and I REALLY just wanted to see if I would get denied or not since it wasn't a ding on my credit. After I withdrew and went back to the page again, the 80k offer jumped to 125k reward pts.
My wife has the gold card and she had gotten offers for the platinum upgrade previously. We are looking to travel more this year and going forward so my question is should I jump on this offer or just have her upgrade her gold card? We mainly use the gold for grocery shopping and eating out.

BTW....we have no travel rewards card at the moment. I just got an email to upgrade my QS to either a venture card or Venture one card. I was going to upgrade and hopefully PC to a venture X after abt 6 months if possible.

Thoughts?

You will waste an INQ, I burned AMEX 14 years ago and everytime I check online to get approved again they deny me lol..They sent me an email last year, if I paid them back...I would get another card....I dont need Amex and my 8 cards that I have now including B of A, Discover and Wells, I burned them as well.....Are good and helped me get my scores back over 800...Lesson learned