topic Re: Why would anyone get an Amex Platinum? in Credit Cards

Why would anyone get an Amex Platinum?

Anonymous — Tue, 02 Jul 2013 19:02:12 GMT

$400 annual fee, NOT waived for the first year. Most of the benefits are same as PRG.

Why would anyone do that?

Re: Why would anyone get an Amex Platinum?

bmd0224 — Tue, 02 Jul 2013 19:07:04 GMT

There are tons of reasons which justify the annual fee of $450. Among the benefits there are mostly for people who travel frequently.

There is an offer out there if you are an Ameriprise client to get the card with the annual fee waived for the first year.

Re: Why would anyone get an Amex Platinum?

bmd0224 — Tue, 02 Jul 2013 19:08:48 GMT

http://www.dailymarkets.com/creditcards/american-express-platinum/

Re: Why would anyone get an Amex Platinum?

fixingitohio — Tue, 02 Jul 2013 20:05:54 GMT

This is my goal card. Had one many years ago. Lost it (in good standing) so I hope to garden and get back in with them the end of this year or January of 2014 for max backdating.

If you travel (which I'm doing more and more of for my job) I think this could be a great card.

+450 (fee for card)

-200 (airline fee reimbursement) At $50 a roundtrip for one bag, this will be earned back in 4 trips.

-100 (GlobalEntry credit) Use it to pay for GE and get up to $100 back. Some have gone the Nexus -> GE route which is $50 and done them for both themselves and their spouse and got the $100 credit.

Net cost first year $150

Add in airline club access ($27 each time to pay as you go I think) and the MR points you can redeem towards air travel and you're probably ahead, if that's your thing.

Also, to my knowledge it's the only US Amex with EMV chip capability currently (although chip and sig vs. chip and PIN). Useful if you travel overseas.

Again, my goal card.

As a question to the Amex gurus, is the qualification the same for Green, Gold, PRG and Platinum in terms of credit profile with the only differentiator being your willingness to pay the fee? When I get back in with them, I'd like to go with Platinum because of travel vs. Green and work my way up (which I did way back when).

If I can get back in, Member since 1993 will be pretty nice, especially if I can parlay in to a BCE or BCP.

Thoughts?

Re: Why would anyone get an Amex Platinum?

kilj0y — Tue, 02 Jul 2013 20:04:46 GMT

I am active duty military so annual fees are waived for me. Thats why I want one.

Re: Why would anyone get an Amex Platinum?

Anonymous — Tue, 02 Jul 2013 20:07:19 GMT

@Anonymous wrote:
$400 annual fee, NOT waived for the first year. Most of the benefits are same as PRG.

Why would anyone do that?

The perks.....

Including:

1. No forex. Other charge cards, PRG included, have forex fees. If you spend quite a bit overseas, this will save you a considerable amount of money.

2. $200 airline fee credit. That's almost half of the AF cost. Then again, you got to be travelling to use this perk.

3. Airport club access with priority pass. Very nice if you travel a lot.

4. Global entry fee credit. You have to travel internationally for this to make any sense for you. 1/5 of the AF cost essentially.

5. Concierge service is much better than other charge cards. Better customer service as well for Plat customers, don't think you will get any outsourced CSRs with the plat if that matters.

6. Gold SPG status.

7. Preferred seating area at many venues, including Platinum seating area for Staples Center. And other concert / restaurant perks.

And many more.

The Plat card is NOT a rewards card. If your main priority is a rewards card, you will find many other much more attractive options.

It is however a very good perks and service card. The benefits of the PRG are definitely not the same as the Plat in many different ways. It's kinda unfair to compare theese 2 cards because they are very different cards that serve different purposes.

If you're looking for top of the line service and perks, this is one of the best cards to consider.

Re: Why would anyone get an Amex Platinum?

Anonymous — Tue, 02 Jul 2013 22:03:21 GMT

Agree with what others have said. Most of the bene's are not the same as PRG. To me, its a much better value than PRG (aside from the fact the PRG's AF is waived the first year. however, if I didn't get in on that 50K points deal at the beginning of the year, I would've have opened a PRG). But the benefits are only worth it if you travel.

For the $125 fee, PRG doesnt offer much, and membership rewards are worth way less to me than URs, for example, which I can get for $95 a year from Chase (with first year AF waived on both Chase Ink and CSP). I pretty much only find value in transfering MRs to BA (which I use as my secondary program for short-haul flights) when there is a transfer bonus.

Re: Why would anyone get an Amex Platinum?

romey050500 — Tue, 02 Jul 2013 22:52:19 GMT

You don't have to be an Ameriprise client. You just have to use the Ameriprise link.

Re: Why would anyone get an Amex Platinum?

scenery_guy — Wed, 03 Jul 2013 01:08:40 GMT

Apparently it's important to have when you're a pirate. also it's not a Visa Black.

Re: Why would anyone get an Amex Platinum?

Anonymous — Wed, 03 Jul 2013 02:18:22 GMT

One of my goals is to have a PRG and AMEX Platinum charge card to rack up the MR points. Mhm

Re: Why would anyone get an Amex Platinum?

Anonymous — Wed, 03 Jul 2013 02:22:23 GMT

Benefits + Perks > Annual Fee

Re: Why would anyone get an Amex Platinum?

CEOriginal — Wed, 03 Jul 2013 02:26:21 GMT

I get the feeling that some of the cardholders of Amex Plat have it just as a status symbol. I'll admit that it does look good, but take a venture around some online forums, and you'll see that some people are not getting the most out of the card.

But hey, that's their perrogative. At the end of the day, if you have $450 per year to spend on looking cool, then God speed!

Re: Why would anyone get an Amex Platinum?

RSCo — Wed, 03 Jul 2013 04:04:28 GMT

@Anonymous wrote:
$400 annual fee, NOT waived for the first year. Most of the benefits are same as PRG.

Why would anyone do that?

Apply thru Ameriprise and the first year is waived...

https://www.ameriprise.com/cash-cards-and-lending/cards/platinum-card-from-american-express.asp

Re: Why would anyone get an Amex Platinum?

Open123 — Wed, 03 Jul 2013 04:28:13 GMT

If I were taking a trip now, here's what I would do:

1. Apply for a MB Platinum for 50K sign up bonus.

2. $200 airline credit per calendar year - can use it for 2013, and again for 2014 before I cancel in July for $400 total.

3. Free global entry, which is good for 5 years.

4. Elite membership in Avis, National, and Hertz.

5. SPG Gold status - which otherwise requires 10 stays or $30K spend.

6. $100 hotel credit

So, purely from a quantitative perspective, for a $475 annual fee, one receives the following: 50K MR points; $400 airline credit; $100 Global entry fee; and, $100 hotel credit.

So, why? If nothing else, for material gain?

Re: Why would anyone get an Amex Platinum?

Open123 — Wed, 03 Jul 2013 04:59:46 GMT

@fixingitohio wrote:the qualification the same for Green, Gold, PRG and Platinum in terms of credit profile with the only differentiator being your willingness to pay the fee? When I get back in with them, I'd like to go with Platinum because of travel vs. Green and work my way up (which I did way back when).

If I can get back in, Member since 1993 will be pretty nice, especially if I can parlay in to a BCE or BCP.

Thoughts?

Yes, I think the qualifications for all the charge cards are the same.

For 2 or 3 TLs reinserted with 1993 will most assurendly be worth it. In your case, for the price of an Amex, you also receive 20 years boost to AAOA, which as Visa would say, is "priceless."

Re: Why would anyone get an Amex Platinum?

HiLine — Wed, 03 Jul 2013 05:03:17 GMT

@Open123 wrote:
@fixingitohio wrote:the qualification the same for Green, Gold, PRG and Platinum in terms of credit profile with the only differentiator being your willingness to pay the fee? When I get back in with them, I'd like to go with Platinum because of travel vs. Green and work my way up (which I did way back when).

If I can get back in, Member since 1993 will be pretty nice, especially if I can parlay in to a BCE or BCP.

Thoughts?
Yes, I think the qualifications for all the charge cards are the same.

Does that include the discontinued Zync?

Re: Why would anyone get an Amex Platinum?

Open123 — Wed, 03 Jul 2013 05:05:04 GMT

@HiLine wrote:
@Open123 wrote:
@fixingitohio wrote:the qualification the same for Green, Gold, PRG and Platinum in terms of credit profile with the only differentiator being your willingness to pay the fee? When I get back in with them, I'd like to go with Platinum because of travel vs. Green and work my way up (which I did way back when).

If I can get back in, Member since 1993 will be pretty nice, especially if I can parlay in to a BCE or BCP.

Thoughts?
Yes, I think the qualifications for all the charge cards are the same.

Does that include the discontinued Zync?

No, the Zync would be an exception.

Re: Why would anyone get an Amex Platinum?

indiolatino61 — Wed, 03 Jul 2013 06:53:11 GMT

@Anonymous wrote:
$400 annual fee, NOT waived for the first year. Most of the benefits are same as PRG.

Why would anyone do that?

One of the best cards for frequent travelers.

Re: Why would anyone get an Amex Platinum?

Anonymous — Wed, 03 Jul 2013 13:01:47 GMT

A few people are talking about how Platinum is just for people hoping to attain some kind of status for $450. That's ridiculous. Anyone who has traveled overseas at all will understand quickly how valuable the club lounge is.

For example, in the U.S., your cell phone will still work and calls be free if you are flying from Boston, stopping in Chicago, and on the way to L.A. If you are in Eastern Europe, flying through Germany, on your way to Russia, that is a different telephone company in each country. The Club Lounges give you free internet, so you can work, e-mail and use Skype for calls all day long. And buying Internet access at Airports can be 16 Euro for a few hours.

Add in the free beer, wine, liquor, buffets (some quite good, believe it or not), and you are saving yourself, at a minimum, $25 per airport layover. I probably spent 50 days in European and Middle East airports last year alone. This card pays for itself many, many times over. Then add in Starwood status, Rental car (although other cards are similar), and the almost universal room upgrades in every country when you pull out the card, and it is an easy selection.

Only problem is their nearly total split with United Airlines does make life more diffcult.

But if you travel overseas -- or live overseas -- this is without question the best card you can have.

Re: Why would anyone get an Amex Platinum?

CS800 — Wed, 03 Jul 2013 13:25:16 GMT

@kilj0y wrote:
I am active duty military so annual fees are waived for me. Thats why I want one.

Permanently or for deplyometn purposes. Wonder what they do for reservists who are on active status.