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Amex Platinum $500,000+ in spending.

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Valued Contributor

Re: Amex Platinum $500,000+ in spending.

I'd think the Platinum is probably still the best deal in your case... Also, I would imagine that Customer Service with your level of spend would be top notch as well... 

 

You should call when the AF is due and tell them you are thinking of cancelling.. wonder what type of retention bonus you could end up with?

NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 11 of 43
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New Contributor

Re: Amex Platinum $500,000+ in spending.

I think it is the best option, however I'm new to this cc and working on repairing after my divorce. I know there is a wealth of knowledge out there so I figured I would ask around. I think if I can improve my scores the invitation would come. I love the perks of the Platinum and I've even managed to use the $300 credit for private jets on a leg from Phoenix to Las Vegas. Which I ended up paying out of pocket $17 since I used points to cover the charge. I really love the card. I do feal that CS has better partners.
Amex Plat | Business Amex Plat | NFCU Cash Rewards $22,100 | Discover iT $1,000 | Capital One Plat $1750 | Capital One Quicksilver $2000 | Walmart SC $5000 | Amazon SC $4000 | Military Star Card $1750 NFCU CLOC $500 | NFCU PL $7500 |
Message 12 of 43
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Established Contributor

Re: Amex Platinum $500,000+ in spending.

I assume you get it all back in benefits. You would have to research exactly how so, but that card is like the Holy Grail of credit cards. Someone correct me if I am wrong.

If this spend is all in flights, why don't you use EDP or PRG for dining/gas/groceries for more points. Is it possible to transfer points from other accounts? I would focus on most points instead of spending it all on one card. 

Message 13 of 43
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Moderator Emeritus

Re: Amex Platinum $500,000+ in spending.


@Archange1 wrote:

I assume you get it all back in benefits. You would have to research exactly how so, but that card is like the Holy Grail of credit cards. Someone correct me if I am wrong.

If this spend is all in flights, why don't you use EDP or PRG for dining/gas/groceries for more points. Is it possible to transfer points from other accounts? I would focus on most points instead of spending it all on one card. 


The Centurion card is certainly not viewed as highly as it once was.  There are cards that have as much if not better benefits such as the CSR and even the Platinum to some extent.  It really is a card designed more to impress than provide actual benefits.  Might want to read forums like FlyerTalk where the card is discussed and the numerous holders that have cancelled the card due to lack of beneifts vs the cost of the card.

Message 14 of 43
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Senior Contributor

Re: Amex Platinum $500,000+ in spending.

Stick w/ plat IMO. With that spend you will not get a CL high enough to cover it. See if you can get Bus Plat 1.5x for over 5k items.

Also 50% rebate on airline reward redemption.

Amex is a great company that really caters to a big spend relationship.

Personal Cards: Amex Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 15 of 43
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Established Contributor

Re: Amex Platinum $500,000+ in spending.

You really need to break down the other half of the spend or whatever to get actual advice.

The Plats are great for airfare spend but you need to tell us what else you buy and how much.
Message 16 of 43
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Frequent Contributor

Re: Amex Platinum $500,000+ in spending.

If this is cosumer spending, you could do what I personally do.. have the Platinum primarily for the benefits and airfare charges and use the AMEX Everyday Preferred as my daily card (getting that 50% bonus every month) since the rewards all pool together everyway.
My Exclusive Personal Driver:
American Express Platinum Card for Schwab
The Ritz-Carlton Visa Infinite (when merchants don’t accept AXP because they foolishly claim the fee is too high)

My Exclusive Business Driver:
The Business Platinum Card from American Express
Message 17 of 43
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Senior Contributor

Re: Amex Platinum $500,000+ in spending.


@Pooka89 wrote:
If this is cosumer spending, you could do what I personally do.. have the Platinum primarily for the benefits and airfare charges and use the AMEX Everyday Preferred as my daily card (getting that 50% bonus every month) since the rewards all pool together everyway.

This exactly.  You'd get 50% bonus on the EDP.  If any of it is for business, the enhanced business platinum would then offer you a 50% rebate on all flights booked through amex travel.  It is a nice setup for some people as well as the business rewards gold for added point earning potential categories.  You also wouldn't have to worry about transferring points to partners and being stuck with big amounts of fuel surcharges, or dealing with lack of availability of award seats.

 

i also noticed recently that amex has membership rewards insider fares.  They had american and united flights for around 1.2 cents per point.  Using the EBP you'd always get double that, as well as 10 inflight wifi passes worth $150-$600.....

EQ 730, TU 730, EX 720. INQs EQ-1, TU-9, EX-7 AAOA 4yrs Util 6% Inspiration: Themanwhocan's Cash Back Charts
Message 18 of 43
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Frequent Contributor

Re: Amex Platinum $500,000+ in spending.


@Alexortiz20 wrote:
Should I continue to use the Amex platinum? This past year I managed o rack up 500k+ in spending. This year I'm projected to spend around 900k. We spend in airfare around 243k so now with the 5x I should see close to 1.5M points by the end of the year. My question is, I just finished an app spree with 44k in new credit lines. Should I continue to use the Amex or should I look to another card ?
18 Inq
TransUnion 680
Equifax 650
Experian 667

If you're going to get 1.5M points by the end of year, then you need to get the Biz Platinum. Assuming all points are used for airfare, that would give you 3 Million points. I would suck up that small annual fee for double points when raking in THAT many. I use my EDP for my "other" category, gas, and groceries since the return is better. I only use my Plat for airfare and I use my Biz Plat to pretty much double the points that I'm getting. 

 

The only thing that sticks out to me on the Centurian card would be the Delta status. While I do fly a decent amount for someone who doesn't fly for work, that diamond status (I believe?) would be nice. I wouldn't dish that amount though unless I was, of course, rich like that lol Smiley Very Happy

[11 AMEX] 58.5k + NPSLs // [1 Cap One] 23.25k // [2 Discover] 15.9k // [2 Barclays] 10.15k // [3 Citi] 18.8k // [2 Chase] 24.5k // Amazon 6k
Starting FICO Scores: EQ 595, TU 625, EX 604 (01/14/15) w/ Total CL of $1.3k
Current FICO Scores: EQ 660, TU 672, EX 650 (09/20) w/ Total CLs of $169.1k
Owner of The Point Calculator. Calculate credit card rewards based on your spend, compare credit cards side-by-side, and search for the best cards based on spend.
Message 19 of 43
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Senior Contributor

Re: Amex Platinum $500,000+ in spending.

I see everyone recommending cards but the average spend per month is 75k.  Ladies and Gentlemen, if he used EDP or another CC he would have to make payments daily or several weekly just to keep availability or OP couldn't even make some purchases because of a limit.

 

This is why Amex has a niche with their charge cards, IMO.  With a OP's score I really don't know how much revolving line OP would get on a single card.

 

PRG or BRG is an option.


Personal Cards: Amex Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
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