150K amex offer

[jcooks]

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@NRB525 wrote:

Maybe I missed it. Is this an AMEX Platinum offer for 150,00 MR, or a Hilton card for 150,000 Hilton points?

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There are elevated offers floating around for 150k points for the Platinum charge card

[DGBGirl]

Hi all! New to MyFico forums, but long time lurker lol. I received a similar targeted offer, and had similar question but different situation. Im hoping some of you amazing people can give my your perspective/if i was in your shoes type advice.

I've been working on my credit for the last 10 years, but really seriously for the last year. Sold a rental home about a year ago and used the profit to pay off 3 student loans in full, and all credit cards (10) to under 20% each. FICO went from 677-779. Paying off all that debt in basically one fell swoop kinda kick started my motivation to get really serious and knock out the rest of the debt. Now all CCs are at 0 except 2 (AmEx EDP and AmEx HHS) which are now at 6% & 8% with FICO at 818.

I received (about a week ago when loggging into my AmEx acct) a targeted AmEx Plat 150k offer $6k/6mo and tempted to try it. Im on the fence if I should accept the offer now, before it disappears, then make smaller payments to the 2 CCs that still have balances (6% & 8%) on to focus and put all my spend on the Plat paying off in full each month - OR - just ignore the targeted offer for now, continue to pay down the last 2 CCs to 0 and then hope and pray the 150k targeted Plat comes back my way sometime in the future.

Would like others perspective, Im driving myself crazy going back and forth on what to do. Part of me says ignore the targeted offer, dont lose focus, and pay off the last 2 CCs in full before taking on a new card/mileage run. The other part of me wants the shiny new (Im a big girl now) card and the 150k MRs that will come with it. Theres no garauntee I'll get targeted for it again. Im planning on a trip to Spain next Spring and could use those points to offset some, if not all, of the airfare. But on another side I also have plenty of AA miles I could use for airfare so I dont "need" the MRs for airfare on the Spain trip, but could use those and save my AA miles for a later trip. Seriously, its driving me crazy 6 of one and 1/2 dozen of the other lol.

[coldfusion]

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@DGBGirl wrote:

Hi all! New to MyFico forums, but long time lurker lol. I received a similar targeted offer, and had similar question but different situation. Im hoping some of you amazing people can give my your perspective/if i was in your shoes type advice.

I've been working on my credit for the last 10 years, but really seriously for the last year. Sold a rental home about a year ago and used the profit to pay off 3 student loans in full, and all credit cards (10) to under 20% each. FICO went from 677-779. Paying off all that debt in basically one fell swoop kinda kick started my motivation to get really serious and knock out the rest of the debt. Now all CCs are at 0 except 2 (AmEx EDP and AmEx HHS) which are now at 6% & 8% with FICO at 818.

I received (about a week ago when loggging into my AmEx acct) a targeted AmEx Plat 150k offer $6k/6mo and tempted to try it. Im on the fence if I should accept the offer now, before it disappears, then make smaller payments to the 2 CCs that still have balances (6% & 8%) on to focus and put all my spend on the Plat paying off in full each month - OR - just ignore the targeted offer for now, continue to pay down the last 2 CCs to 0 and then hope and pray the 150k targeted Plat comes back my way sometime in the future.

Would like others perspective, Im driving myself crazy going back and forth on what to do. Part of me says ignore the targeted offer, dont lose focus, and pay off the last 2 CCs in full before taking on a new card/mileage run. The other part of me wants the shiny new (Im a big girl now) card and the 150k MRs that will come with it. Theres no garauntee I'll get targeted for it again. Im planning on a trip to Spain next Spring and could use those points to offset some, if not all, of the airfare. But on another side I also have plenty of AA miles I could use for airfare so I dont "need" the MRs for airfare on the Spain trip, but could use those and save my AA miles for a later trip. Seriously, its driving me crazy 6 of one and 1/2 dozen of the other lol.

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I think the underlying question here is whether or not you would be able to meet the SUB via normal organic spend.    Given your comments regarding making a choice to either pay down current balances on existing cards or paying off spend on this card it sounds like you would not. 

Based on that plus your comment that you don't really "need" the MR I suggest you pass on this one.    It sounds like you would have to overextend yourself, and overextending oneself in order to meet the conditions for a signup bonus is never a good idea. 

[SouthJamaica]

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@DGBGirl wrote:

Hi all! New to MyFico forums, but long time lurker lol. I received a similar targeted offer, and had similar question but different situation. Im hoping some of you amazing people can give my your perspective/if i was in your shoes type advice.

I've been working on my credit for the last 10 years, but really seriously for the last year. Sold a rental home about a year ago and used the profit to pay off 3 student loans in full, and all credit cards (10) to under 20% each. FICO went from 677-779. Paying off all that debt in basically one fell swoop kinda kick started my motivation to get really serious and knock out the rest of the debt. Now all CCs are at 0 except 2 (AmEx EDP and AmEx HHS) which are now at 6% & 8% with FICO at 818.

I received (about a week ago when loggging into my AmEx acct) a targeted AmEx Plat 150k offer $6k/6mo and tempted to try it. Im on the fence if I should accept the offer now, before it disappears, then make smaller payments to the 2 CCs that still have balances (6% & 8%) on to focus and put all my spend on the Plat paying off in full each month - OR - just ignore the targeted offer for now, continue to pay down the last 2 CCs to 0 and then hope and pray the 150k targeted Plat comes back my way sometime in the future.

Would like others perspective, Im driving myself crazy going back and forth on what to do. Part of me says ignore the targeted offer, dont lose focus, and pay off the last 2 CCs in full before taking on a new card/mileage run. The other part of me wants the shiny new (Im a big girl now) card and the 150k MRs that will come with it. Theres no garauntee I'll get targeted for it again. Im planning on a trip to Spain next Spring and could use those points to offset some, if not all, of the airfare. But on another side I also have plenty of AA miles I could use for airfare so I dont "need" the MRs for airfare on the Spain trip, but could use those and save my AA miles for a later trip. Seriously, its driving me crazy 6 of one and 1/2 dozen of the other lol.

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I'm not a huge fan of Amex charge cards, or MR points, or $695 annual fees. But if I were going on a big European trip like that, I would love to have an American Express platinum card in my wallet.  It has a lot of valuable perks, and American Express has a good reputation for helping if anything goes wrong.  So in your case I would vote yes.  Since the 150k MR SUB is as good as it gets, it seems like an opportune time for you to spring for it.

[h2oeng]

If you don't travel much neither the Gold or the Plat are not good cards to have in my opinion.  You probably won't pick up enough with the perks to offset the AF on the Plat without traveling much (TSA Precheck, Clear, etc.).   It has a good SUB but is it worth the $695 AF?  The Gold isn't bad for groceries and dining out but again, if you don't travel much are the MR points worth it?  If you do travel you may want to consider picking up the Plat, Gold and Business Cash card.  We travel quite a bit but my travel spend is minimal (wife is a flight attendant so we nonrev flights).  Plat is used for all mostly rooms and dining out for now (x10 SUB).  Gold for groceries and dining out (both x4) once the Plat SUB is done next month and the Business for everything else at x2.  Also keep in mind, AMEX isn’t widely accepted outside of the US.  It’s hit or miss depending on where you are.  You want to have a good Visa as a backup, preferably with no foreign transaction fees.