AMEX Platinum Strategy

[Anonymous]

Yes, I have the same disease you all have, I love taking advantage of our wonderful credit system here in the USA! : )

I've made some considerable CC moves in 2019 thus far - I have sat tight for years and wanted to begin taking advantage this year and I am off to a good start. My history thus far is

Citi AAdvantage 

AMEX Hilton Ascend

Chase Sapphire Preferred - Got this one in the last week

So while I am currently focused on hitting the spend on my brand new CSP I am essentially in the garden....well....BUT...the AMEX Platinum has been staring at me like a prime '98 Shania Twain! So with that said, how can a man refuse such beauty? I've done some reading here and done some other offsite reading and lets be honest, it seems the AMEX Platinum perks are its strengths and for me I have to admit that is what is attracting me to it. In paerticualr, Centurion access of which my local aiport has, Uber I could take advantage of as well. The SPG Gold could come in handy in a pinch but the Hilton Gold I already get through the AMEX Hilton Ascend so meh there!

Since I am currently focused on hitting my CSP spend, the only way I would move on an AMEX Platinum would be if this strategy would work:

- Apply for a Wells Fargo Platinum Card - 0% APR for 18 months, 0% BT for 18 months

- Apply for AMEX Platinum

Immediately hit the $5k spend on the AMEX Platinum - then secure a BT from the AMEX Platinum to the WF Platinum

Is this a viable strategy? Would this work? 

[Anonymous]

It would work....but why the rush? You mentioned doing a BT to meet the sub.....will obtaining the card now put you in debt? I don’t see any of the Platinum benefits being nerfed anytime soon. I would wait. 

[Anonymous]

So the BT strategy would work eh?

You know I am not in a rush parse but am looking at my next move and was thinking IF I moved on it now would this strategy be valid? Considering there is no indication of the AMEX Plat being nerfed perhaps waiting until I have hit the CSP spend is ideal but I do have some travel coming up and Centurion access and Uber credits would absolutely come into play there.

Actually the AMEX Everyday card has a 0% APR/BT for 15 months so that would be better and comes with 10,000 MR's so effectively making the strategy worth 70,000 MR's.

Would any of this put me in debt? Absolutely not, I refuse to be in debt! Like the Holocaust, NEVER again! : )

[NRB525]

You cannot BT within the same bank. Anywhere.

The ED would be useless for a “spend $5k on Platinum and BT it somewhere else” strategy.

[Anonymous]

Makes perfect sense actually, doh!

It seems more sensible to wait until I have hit my CSP spend because I really don't want to open a card just for a BT

[CreditInspired]

Hi OP and welcome

My only concern is opening too many CCs for Chase. They are good at doing SPs and you don’t want to spook them with all these new CCs in only 2.5 months and they cancel your beloved CSP.

IMHO, I suggest slowing your roll.

[Anonymous]

How would Chase know if I open an AMEX Platinum? Two seperate institutions as far as I know? Nvm..I understand what you are saying with Chase doing SP's to monitor overall CR and spend with other issuers.

[Anonymous]

Dangit, I wanted to be sitting in the Centurion lounge in a few weeks : (

[LittleSal]

You can sit in the lounge. I think it’s around $25 per visit with any Amex card. I used to do that before I had the Platinum.

[CreditInspired]

Thanks @littlesal for sharing. I did not know this.