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Amex Platinum. Just too much money

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Established Contributor

Re: Amex Platinum. Just too much money

In terms of benefits it just about covers the annual fee for me. 

 

I got the Gold card when the first year was free. When the year's up, I'll cancel it. I can't justify the $250 annual fee when my TD Cash gives me 3% on restaurants.





Message 21 of 25
Established Contributor

Re: Amex Platinum. Just too much money


@redpat wrote:

@KJinNC wrote:

A coworker is leaving for a job at another company, and a group of us met for a happy hour last night to celebrate that. One of my buddies paid for his drinks with a business Amex platinum card for his personal sideline business that had nothing to do with the event. I scratched my head at that one.


I think he is taking that event as a business one.......  = 50% deduction.

 


While that is possible, it would be ... trying to think of a nice way to say it ... an inaccurate way of recording the expense.

 

His side business (which is what the card is for) has nothing to do with anyone who was present (he is a music promoter for independent artists - this gathering was a bunch of corporate employees at a technology and consulting Fortune 50 company).

 

Many of us have corporate Amex green cards from the Fortune 50, which we did not use because it wasn't an official company activity, it was friends having beer and saying goodbye.


FICO 8 scores are deceptively high. My profile is young with a lot of new accounts and even more inquiries from 2019. The Barclay AU card is not on TransUnion; and, Equifax has some old positive accounts from 2011 that are not on the other two. That is the reason for the variation in scores. No derogs. Over 5/24 until fall 2021.
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Authorized user / Corporate / Auto loan

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Self Lender secured $500 loan, 04/19-01/20 | Unsecured personal loan from Coastal, $1,000, 06/19-08/19.

Goals: Late 2020 - Ducks Unlimited card; scores in high 700s with inquiries aging. Long-term goal - Prime rate mortgage; able to qualify for most standard credit products.
Message 22 of 25
Senior Contributor

Re: Amex Platinum. Just too much money

Re: Happy hour

 

It could be he's a tax cheat, hoping the IRS won't investigate it too closely.

 

Or maybe he is meeting minimum/retention spend on the card, and will note it as a personal expense.

 

Or maybe he prefers Amex if a card with better rewards has an overzealous fraud department. A declined charge can be inconvenient and mean a delay in a busy bar.

Spend: BofA Premium, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Marriott Brilliant, Delta Platinum
SD/AAoA Ballast: Arrival, CFU, DC, ED
Downgrading in 2020: BCP, Savor
Mostly earning MRs and cash back as I use up hotel and airline points.
Message 23 of 25
Valued Contributor

Re: Amex Platinum. Just too much money

Looks like Amex shut down the Airline Gift Card with the Annual $200 airline credit. That would make it pretty hard for me to justify it. I have been getting the Amex Platinum Amerprise version the last 2 years which was free for the first year but they cut that out.  I thought about getting the regular Amex Platinum with the 75k sign  up bonus as that would give me $400 in airline gift cards the first year but since they cut it out that doesn't really give me much benefit. 

 

Centurian Lounges are nice.  But I get that benefit a couple of times a year. I could just go to an airport restaurant for less money. 

More cards than I can mention in a signature.
Message 24 of 25
Super Contributor

Re: Amex Platinum. Just too much money


@frogman1 wrote:

Looks like Amex shut down the Airline Gift Card with the Annual $200 airline credit. That would make it pretty hard for me to justify it. I have been getting the Amex Platinum Amerprise version the last 2 years which was free for the first year but they cut that out.  I thought about getting the regular Amex Platinum with the 75k sign  up bonus as that would give me $400 in airline gift cards the first year but since they cut it out that doesn't really give me much benefit. 

 

Centurian Lounges are nice.  But I get that benefit a couple of times a year. I could just go to an airport restaurant for less money. 


I recently got my Platinum after finding a note in a thread about the corporate discount.  The $150 AF credit will work nicely to keep the AF reasonable, and the Uber credits have worked out well. 

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 25 of 25
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