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Amex Platinum $500,000+ in spending.

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Established Contributor

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

@redpal: not really. It's relatively easy to get a 50k CL on an Amex credit card. OP hasn't given any real info besides $, though.

Is this business spend? Is it personal? How much is on bonus categories covered by the BRG/PRG? Etc.
Message 21 of 43
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Senior Contributor

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


@fltireguy wrote:

@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

Is there a card with better rewards for airfare than Platinum...?


The Platinum Card for Air Travel is your best option.

 

Have you been offered the Centurion Card?

 

American Express: Platinum Charge, Optima, Business Gold, Delta Business Platinum
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (8.12.20) EX: 835 / EQ: 846 / TU: 834
Message 22 of 43
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Senior Contributor

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


@rlx01 wrote:
@redpal: not really. It's relatively easy to get a 50k CL on an Amex credit card. OP hasn't given any real info besides $, though.

Is this business spend? Is it personal? How much is on bonus categories covered by the BRG/PRG? Etc.

Good point, but if I'm spending 75k a month I wouldn't want to always look over my shoulder to see what's available before making a purchase.

 

 


Personal Cards: Amex Plat | Amex Delta Res | Amex Hilton | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 23 of 43
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Established Contributor

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

True, but presumably OP could ask for more with docs.

I agree that Amex charge cards occupy a special niche, but if we're trying to optimize rewards then the Plat (or Cent) provides poor value unless used for airfares.

The BRG will allow you to charge just as much as a BizPlat, for example. The card color means nothing for spending ability.
Message 24 of 43
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Valued Contributor

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

Great point made about the limits! I've never seen/heard anyone having a revolver with a $75K limit and like stated before, I'd hate to always have to look over my shoulder and worry if my purchase will go through..
Message 25 of 43
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New Member

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

We're in roughly the same position. I spend about $200-250k a month on credit cards (all business), and run about $50k through AMEX. Besides airfare, what else are you buying? Because AMEX purchase protection is very good. If I'm buying anything online, or something that is electronic I always run it through AMEX, no matter what. But I think MR points are nearly worthless. The last time I redeemed any, was well over a year ago, and I have several million stored up. I use the Fine Hotel and Resorts frequently, but it seems like that has gone down hill too, as several hotels I stay at frequently are no longer part of the program. I had the Centurion card at one point, and wouldn't waste the money to upgrade again. As others have mentioned, the NoPSL and the fact that business cards don't show up on your credit report is really nice. 

If I were you, I'd work on improving your score a bit, and get a CapitalOne Venture card with 2x, and move some of your spend to there. 

FICO (Discover): 806
AMEX Gold (Personal), AMEX Platinum (Business), Chase Sapphire, Chase Sapphire Reserve, Chase Ink Plus, Chase Freedom Unlimited, Discover More, Citi DoubleCash, Fidelity Rewards, Capital One Venture, Capital One Spark, USAA World Rewards, USAA AMEX
Message 26 of 43
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Valued Contributor

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


@milesvscash wrote:

We're in roughly the same position. I spend about $200-250k a month on credit cards (all business), and run about $50k through AMEX. Besides airfare, what else are you buying? Because AMEX purchase protection is very good. If I'm buying anything online, or something that is electronic I always run it through AMEX, no matter what. But I think MR points are nearly worthless. The last time I redeemed any, was well over a year ago, and I have several million stored up. I use the Fine Hotel and Resorts frequently, but it seems like that has gone down hill too, as several hotels I stay at frequently are no longer part of the program. I had the Centurion card at one point, and wouldn't waste the money to upgrade again. As others have mentioned, the NoPSL and the fact that business cards don't show up on your credit report is really nice. 

If I were you, I'd work on improving your score a bit, and get a CapitalOne Venture card with 2x, and move some of your spend to there. 


Which Biz card(s) do you use the most?
CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus
Message 27 of 43
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Moderator Emeritus

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

There are a lot better cards than the Venture.  It's only upside is the sign up bonus.  After that it's a 2% cashback card with limited redemption.  OP can do far better than that card.  It certainly isnt a travel card or even close to one.

Message 28 of 43
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Frequent Contributor

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

I've seen many AMEX revolvers with several hundred-thousand dollar limits hence my suggesting the EDP.. he'd of course have to be willing to provide supporting documentation upon request though in order to get that kind of limit.

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 29 of 43
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Valued Contributor

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


@Pooka89 wrote:

I've seen many AMEX revolvers with several hundred-thousand dollar limits hence my suggesting the EDP.. he'd of course have to be willing to provide supporting documentation upon request though in order to get that kind of limit.


HUNDREDS of thousands in limits?! Holy heck!

Message 30 of 43
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