cancel
Showing results for 
Search instead for 
Did you mean: 

150K amex offer

squarebasketball
Frequent Contributor

150K amex offer

so i was just made aware of the 150K amex offer. as someone who doesn't travel a lot or redeem for travel, does it still make sense to keep the card for 1 year just for the bonus? in general, how much can 150K provide in travel if I am really conservative and only do lower point redemptions? And if i just choose to cash out the points, how much are they worth? 1cpp? thanks

Message 1 of 21
20 REPLIES 20
notmyrealname23
Established Contributor

Re: 150K amex offer

If you redeemed 150k MR as a statement credit at 0.6 CPP (worst possible redemption) it would be $900, which is > annual fee of $695. QED it is a net positive value in Year 1 if you decided "I'm going to burn AMEX and close the card after year 1, give me that juicy signup bonus".

 

That being said...


- you are going to have to put significant spend on the card that you COULD spend on other cards,

- a lot of those cards are straight cash back so you don't have to figure out the ins and outs of airline and hotel programs or do various tricks for MR high value redemptions,

- you don't travel a lot anyway, by your own admission,

- oh, and if you want to keep any of those points after Year 1 and nuking the Platinum, congratulations, you have to apply for another card,

- AMEX is not a big fan of churners, maybe you decide a BCP is something you would like a year or two down the road, oh hey, you applied and AMEX now gives you a popup explaining they're not giving you any more SUBs.

 

Frankly for someone who doesn't travel a BCP with a $300 SUB might be more useful than a Platinum with 150k MR.

First Tech FCU Choice Rewards World MC 35k | AMEX Marriott Bonvoy Brilliant 15k | Bilt Rewards MC 14k | Fidelity VISA Signature 11.5k | Capital One Venture X 11k | AMEX Hilton Aspire 9.8k | Charles Schwab AMEX Platinum NPSL | Amex Platinum (I know) NPSL | Amex Green NPSL | SoFi MC World Elite 8k | Petal2 VISA 7.8k | Rakuten Synchrony Visa 7k | PayPal Synchrony MC 6.4k | Citi AA Mileup 6.9k | DiscoverIt Cashback 5k | Amazon/Synchrony 5k | Hotels.com 5k | Capital One SavorOne 5k | AMEX Delta Gold 3k | Target 800 | Ch 13 filed 12/13 discharged as paid 1/19
Message 2 of 21
squarebasketball
Frequent Contributor

Re: 150K amex offer


@notmyrealname23 wrote:

If you redeemed 150k MR as a statement credit at 0.6 CPP (worst possible redemption) it would be $900, which is < annual fee of $695. QED it is a net positive value in Year 1 if you decided "I'm going to burn AMEX and close the card after year 1, give me that juicy signup bonus".

 

That being said...


- you are going to have to put significant spend on the card that you COULD spend on other cards,

- a lot of those cards are straight cash back so you don't have to figure out the ins and outs of airline and hotel programs or do various dishes for MR high value redemptions,

- you don't travel a lot anyway, by your own admission,

- oh, and if you want to keep any of those points after Year 1 and nuking the Platinum, congratulations, you have to apply for another card,

- AMEX is not a big fan of churners, maybe you decide a BCP is something you would like a year or two down the road, oh hey, you applied and AMEX now gives you a popup explaining they're not giving you any more SUBs.

 

Frankly for someone who doesn't travel a BCP with a $300 SUB might be more useful than a Platinum with 150k MR.


thank you so much for your knowledge and writeup!

Message 3 of 21
SouthJamaica
Mega Contributor

Re: 150K amex offer


@squarebasketball wrote:

so i was just made aware of the 150K amex offer. as someone who doesn't travel a lot or redeem for travel, does it still make sense to keep the card for 1 year just for the bonus? in general, how much can 150K provide in travel if I am really conservative and only do lower point redemptions? And if i just choose to cash out the points, how much are they worth? 1cpp? thanks


No, it would be a bad idea to add a card like that just for 1 year. Even Amex wouldn't like it.


Total revolving limits 689000 (587000 reporting) FICO 8: EQ 718 TU 721 EX 698

Message 4 of 21
SouthernCredit
Frequent Contributor

Re: 150K amex offer

Churning Amex is not a good idea if you intend to do further business with them. But that aside, you could probably downgrade to the Gold after the first year. Still a higher AF, but probably more useful to those who don't travel much. I still wouldn't try to churn Amex, though. 



Message 5 of 21
disdreamin
Valued Contributor

Re: 150K amex offer

I hope it's okay to follow up for thoughts on the 150k offer since that was the title.

 

That offer greatly interests me due to upcoming international travel in a year or two. If I have a planned use for those rewards in the next 18-24 months, would it potentially be worthwhile to get the platinum and downgrade after the first year? I can effectively utilize the gold card long-term, but the platinum isn't something I think I'd get enough use out of to justify higher the AF.

Message 6 of 21
jcooks
Frequent Contributor

Re: 150K amex offer

I don't recommend downgrading from the Platinum as that would not allow for the big juicy SUB on the other cards.  If you plan to travel, the Platinum has perks a traveller would love to have.  If you weight the perks and benefits over the AF cost and it still doesn't justify itself, you can downgrade, but not to a no AF card.  The only downgrade path would either be the Gold ($250 AF) and the Green ($150). 


@disdreamin wrote:

I hope it's okay to follow up for thoughts on the 150k offer since that was the title.

 

That offer greatly interests me due to upcoming international travel in a year or two. If I have a planned use for those rewards in the next 18-24 months, would it potentially be worthwhile to get the platinum and downgrade after the first year? I can effectively utilize the gold card long-term, but the platinum isn't something I think I'd get enough use out of to justify higher the AF.


 

Message 7 of 21
disdreamin
Valued Contributor

Re: 150K amex offer


@jcooks wrote:

I don't recommend downgrading from the Platinum as that would not allow for the big juicy SUB on the other cards.  If you plan to travel, the Platinum has perks a traveller would love to have.  If you weight the perks and benefits over the AF cost and it still doesn't justify itself, you can downgrade, but not to a no AF card.  The only downgrade path would either be the Gold ($250 AF) and the Green ($150).


I am considering doing the platinum for a couple years and then downgrading to the gold card if I didn't find it useful enough to keep long-term - I mentioned one year, but it would be a minimum of two. Within that timeframe there are some international trips for which it would (probably) be useful, but the majority of travel I do is domestic and not through major airports, other than occasional layovers. Reading through the list, most of the other amenities aren't something I'd avail myself of either, other than the hotel credit and possibly the airline fee credit.

 

That said, the 150k SUB is VERY attractive to me. I'd like to have them for international awards travel, and this seems like the quickest way to accrue a significant chunk of MR points. I've got a few UR banked but I was thinking having MR might offer flexibility/choices.

Message 8 of 21
Duriel
Frequent Contributor

Re: 150K amex offer

The fine print says if you close it before 12 months, they can take the bonus back. I'm a little terrified as to what that means if you already used it. Would they assign an arbitrary cash value and put it as a charge on the card? 

Open:

Closed:
Message 9 of 21
FinStar
Moderator

Re: 150K amex offer


@Duriel wrote:

The fine print says if you close it before 12 months, they can take the bonus back. I'm a little terrified as to what that means if you already used it. Would they assign an arbitrary cash value and put it as a charge on the card? 


In a variety of cases, AENB can claw back the SUB if unused (or any remaining portion thereof). I don't think I've ever seen negative MR account balances (maybe @K-in-Boston knows?). With that being said, if SUB has been used AENB reserves the right to make any future AmEx accounts ineligible for any SUBs (or upgrade offers).

Message 10 of 21
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.