Amex Platinum NPSL Help

[OmarGB9]

One thing I don't think anyone pointed out os the fact that the BCP earns cashback while the Platinum earns Membership Rewards (MRs).

[DONZI]

It may be helpful also to remember the amex charge card(s) with NPSL can absorb utilization spikes if desired.

Somewhat a niche case, but suppose an unexpected expense comes up that would be high utilization on any one of the credit cards, and wanted to ensure it doesn't get reported as such -- pay it with the platinum.

[Anonymous]

And I hate to be a downer (he lied) but just for general PSA: the time to ask about a card as complex and expensive as thhe Amex Plat is BEFORE you apply.   Yes, if you can meet the SUB spend, it's not going to be bad, but many are not going to get much value from the card.  (Others will do very well, but it general those are the ones who have planned what they are doing)

[DONZI]

lied?

Given the limited info, op may be military and has no platinum AF to consider for the time being and does basically make the platinum profitable whether acquired on impulse or not for active military.

[Anonymous]

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@DONZI wrote:

lied?

Given the limited info, op may be military and has no platinum AF to consider for the time being and does basically make the platinum profitable whether acquired on impulse or not for active military.

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Sorry, the "he lied" was refering to me, modifying "I hate to be a downer"  nothing about the OP.

Good point on active military having no AF changing the value equation, but I think the basic concept (understand before applying) is still valid.

[DONZI]

I see, you were doing a Bob Dole eh?

Agreed, the amex platinum def. deserves contemplation in advance of commiting to the AF.

[MarkintheHV]

I have both the Amex Platinum and the Amex BCP.  If you want to maximize your rewards, I suggest you make a spreadsheet as I did, and lay out your bills and which card gets you the best bang for your buck.  For example, the Amex BCP will give you 6% off of a streaming (I use it for everything except SiriusXM monthly subscription), but, the Amex Platinum will discount all streaming for a total of $20/month (I use it for SiriusXM $20 every month which totally pays my subscription cost and BCP for the rest of the streaming).  Walmart+ is totally paid for by Amex Platinum and includes Paramount+ free, but Amex BCP will only give you 6% bonus for Paramount+.  Of course, as always, ymmv

It takes a bit to figure the best way to get the best deals, but, well worth it in the end.

[Anonymous]

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@Swmjason wrote:
Just got my first Amex card Platinum NPSL (1 of 2, the other Blue Cash). How do I use this/these card(s) for maximum points/rewards? Future increases in CLIs ? Current rebuilding from low fives to past 700s ... Thank you all in advance for the help I have received and future guidance.

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Questions:

Why did you apply for the card if you didn't know what you wanted it for?

Why are you asking about CLIs on a Platinum card.  It's a charge card, not a credit card.

Frankly I'm wondering why AmEx would give you the platinum card to begin with. When I got mine you had to have a 750+ score, already have an AmEx charge card (green, gold) and spend 10K/year on it. Giving the card to someone with <800 and a bad history dilutes the prestige that AmEx wants to convey to prospective users.  AXP is for travel and fine dining, not for buying a pair of jeans.

[GZG]

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@Anonymous wrote:

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@Swmjason wrote:
dilutes the prestige that AmEx wants to convey to prospective users.  AXP is for travel and fine dining, not for buying a pair of jeans.

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I definitely feel Amex has made efforts to offer their products to regular people as of late 

amex blue cash everyday, their advertising with the NBA on TNT, pay over time on charge cards, their seemingly more lax underwriting

I suppose it's easier to hand out more credit if it's the norm to hand it out with 28% interest rates, just my opinion

whether or not that harms their standing among the extremely rich is anybody's guess 

even their recent commericals have people using their platinum cards on dining, however horrifying that may sound to myfico people 

MEMBER WHEN | THE SWITCH UP | American Express 

[SPChaser]

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@Anonymous wrote:

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@Swmjason wrote:
Just got my first Amex card Platinum NPSL (1 of 2, the other Blue Cash). How do I use this/these card(s) for maximum points/rewards? Future increases in CLIs ? Current rebuilding from low fives to past 700s ... Thank you all in advance for the help I have received and future guidance.

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Questions:

Why did you apply for the card if you didn't know what you wanted it for?

Why are you asking about CLIs on a Platinum card.  It's a charge card, not a credit card.

Frankly I'm wondering why AmEx would give you the platinum card to begin with. When I got mine you had to have a 750+ score, already have an AmEx charge card (green, gold) and spend 10K/year on it. Giving the card to someone with <800 and a bad history dilutes the prestige that AmEx wants to convey to prospective users.  AXP is for travel and fine dining, not for buying a pair of jeans.

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🍿 yup it's about that time