AMEX PRG Card Product Upgrade to Platinum

[Anonymous]

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@Anonymouswrote:
I'd suggest landing on the schwab Platinum as your permanent Platinum as the cashout rate is 1.25x instead of 0.6x per point like the other platinums. .

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While that's a great idea, I would recommend someone looks at the values of their potential travel before cashing out at that rate. 

[Anonymous]

I'm not saying they definitely should cash out at that rate. All im saying is the travel redemption is the same for each platinum, but you might as well end up with the Schwab because, especially if you're churning through the platinums, there's no reason not to end on the card that has double the cash out rate, in which case all of those points would be worth at least $3100. It's not a bad feature to have in your pocket just in case you're ever in a tight spot and need to burn some points for cash, and afaik UR points and TY points can only be cashed out at a 1x rate so that 1.25 is almost an anomalous cash out rate. To that end, the $3100-$3600 that I stated before is the *minimum* value you'd get from those points, as if you use them towards travel partners efficiently, they'll be worth substantially more than even that.

[wasCB14]

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@Anonymouswrote:

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@Anonymouswrote:

@avp99

Maybe I misread your post about Admiral Club access but to be clear, that doesn't come with the Amex Platinum card.  With that card you get Centurion Lounge access, Delta Sky Club access and Priority Pass.  The only credit card that comes with Admirals Club access is the Citi AA Executive.

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You get some other lounges with the Plat, like the Jet Blue lounges AFAIK, but yes, you are correct, I agree. 

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As far as I can tell, "JetBlue lounges" are just PP and Airspace lounges near JetBlue gates.

Platinum gives access (at least when they're accepting PP entrants) but it's not like Platinum gives access to a big network of JetBlue-operated lounges.

[wasCB14]

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@Anonymouswrote:
I'm not saying they definitely should cash out at that rate. All im saying is the travel redemption is the same for each platinum, but you might as well end up with the Schwab because, especially if you're churning through the platinums, there's no reason not to end on the card that has double the cash out rate, in which case all of those points would be worth at least $3100. It's not a bad feature to have in your pocket just in case you're ever in a tight spot and need to burn some points for cash, and afaik UR points and TY points can only be cashed out at a 1x rate so that 1.25 is almost an anomalous cash out rate. To that end, the $3100-$3600 that I stated before is the *minimum* value you'd get from those points, as if you use them towards travel partners efficiently, they'll be worth substantially more than even that.

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If someone wants AC access and AA miles, there are better cards to chase than the Platinum.

But if going Platinum, BA Avios can be a good use of MRs for AA flights. They did a 40% transfer promo just a few months ago, though, and I don't know when one might return.

[Anonymous]

Personally, I'm going for the Platinum cuz I fly out of DFW and I wanna make use of the Centurion lounge - but the MR points are a nice perk

[Anonymous]

So what's the relationship needed for Charles Schwab to open a Platinum? I heard you need a broker's account? I have mine with Fidelity.

[Anonymous]

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@Anonymouswrote:
So what's the relationship needed for Charles Schwab to open a Platinum? I heard you need a broker's account? I have mine with Fidelity.

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Yes, but there is no need to worry about being nickle and dimed by Schwab. You can even open a checking and savings account along with the brokerage, which has other advantages itself when you compare it to other checking accounts offered. 

[Anonymous]

Thanks :-) i'm only asking because i might want to open the Platinum with them in the future if they have a bonus. I will not get the bonus with the regular Platinum ever so applied/got the Ameriprise for now. I will look into the checking account.