Need advice on Amex Platinum

[Anonymous]

So, I logged in today and saw that I have a pre-approval for the Amex Platinum with a 60k bonus. I run 200-350k through my cards in a year(split primarliy between 8 cards). I only carry a few balances on my 0% intro cards.  I got the Barclay Luxury Black card this year that has a $495 fee. It gives me priority pass, and a few credits for airlines ect... I applied in hopes for a big limit but only got 5k. Also, I wanted in with Barclay. I want the Amex Platinum, but paying 2 fees wouldnt be justified. I know one is a CC and one a charge, but I wouldnt leave a balance anyway. If i ran say 100k through either one, would the Amex have a better return?  Sorry, I get so confused with miles. % back statement credits are what Im used to. Please see my other cards, and info below. Thanks in advance.

Note: I travel with the wife to brazil 2x a year. Maybe 1 or 2 other domestic flights.

My current stats and cards are below.

[Anonymous]

You can use the card as a churner. Get the bonus then PC the card after a year to a different product. You have no issues with income and use ability on the card. I agree two AFs that cover the same things probably isn’t good. At a minimum after one year you can turn the platinum into a more basic green card and have only a $95 fee instead of 550. Just food for thought. Others who travel a lot can let you know more about the rewards. I wouldn’t be good on that one. You run a lot thru your other card and guaranteed you will be able to cli it fast. For you 5k isn’t enough. 

[Anonymous]

Have you looked at the cobranded plat cards?  They all have the same benefits as the reg plat but also some other perks, also can save the sub on reg plat til you get 100k offer.  If you have a Charles Schwab checking acct you can trade points for 1.25 cents into your acct so the 60k sub and min spend will pay your af if that’s a concern or keep the points.   If you run 100k or more thru a plat amex most likely will give you some nice retention offers every yr that will kill off or offset the af pretty easy,  can look at retention offers on flyertalk for more about that

[Anonymous]

MRs tend to be valuable when traveling to South America for a lot of people I know.  So Platinum may work great for you.

I'll be doing the Amex Platinum standard for a year with 3 AUs and hoping to acquire about 200,000 MRs just from airfare spend, then I will get the Schwab Platinum in year 2, get another 200,000 MRs from straight airfare spend and hopefully end up with aobut 520,000 MRs that I can deposit into Schwab valued at $6500.  That's my plan at least.

One nice thing about Platinum is you can have like 99 gold card AUs whose spend is the same category as the Platinum, so I can get all the credit-poor travelers in my family an AU card and set an artificial limit on their cards and bank the profits, lol.

But for me, MRs aren't valuable since I don't personally fly with any of their partner airlines.  I just want the 6.25% rebate on airfare.

[BronzeTrader]

I never have my eyes on the Black card. Weak to me. It is just the hype "luxury" card.  You do not want to advertise as luxry if the card is indeed luxury.

It does not matter how much $$$$$$ you run through the card.  If the total benefits/reward is less than the AF, then do not get it.  It is quite simple and easy.

Be careful with the co-branded AmEx Plat cards.  Some may not get the SUB if you already get the regular SUB. YMMV.

[Anonymous]

I've used the card a lot for travel and can speak to those benefits --

While I don't have a platinum myself (my parents do, I am a justifiable baby) I've weaseled out a lot of the hidden benefits that come with the card. Besides the low APR, etc. you get full access to Platinum lounges in select airports (these lounges include open bar, open catering, massages, manicures, pedicures, and more all for not extra charge and is also open to your family members) in addition as a platinum member you qualify for a free Boingo Hotspot account (if you're ever extremely frustrated with airport wifi being an extra charge, this is what that's for) and you get $15 a month in free Uber credit. You can also apply for gold status at select hotels and get Global Entry and TSA precheck at the airport to expedite your departure and return process. Finally, and my favorite, you get acess to the platinum concierges who have access to both 5-star, upscale hotels and restaurants with little to no notice. While the fee for this card is hefty, it does have advantages that I used to find myself telling customers about when I noticed they had the card back when I worked retail. I realize this sounds like I'm a super-secret double agent Amex employee, but like I said, I don't even have the card myself (maybe when I escape teenage-hood). Good luck!

[Anonymous]

Drop the Barclays Black Card. In my opinion it is the biggest joke of a card that exists out there. Along with the other two luxury cards from Barclays. Get a platinum and run your money through it. MR points are valuable and you've got a shot at getting the actual black card from Amex with that kind of spend.

[BronzeTrader]

Think the other way.  I received 100k MR points out of it. I guess we all know how much this is worth.  Will be happy to give some back.  I already take advantage of both $200 airline credit and $200 Uber credit. I'd be happy to eat the remainder $150 fee and enjoy all the benefits this card offers.

Just today I used the Hilton gift card offer and received $40 for $200 Hilton gift card.  This is a 20% discount.  I could use the same offer on the AU cards.  Also the 5,000 MR points for the Amazon Prime membership.  More and more.  And this is only February.

[Anonymous]

Yeah there's a credit group on Facebook where people share their annual breakdowns of the Platinum value they actually get organically, and I have never, ever seen anyone not get waaaaay more out of it than $550.  Most are getting thousands a year in direct, real value.

Because I have family members who are credit idiots but spend thousands a year each in airfare, I know I'll score huge value out of them so the annual fee is totally paid for, even compared to the value something like CSR might offer.

[Anonymous]

Thanks, for all the advice.  I went ahead and took the pre-qual offer with the 60k. I'm going to drop the Black card soon.