Amex Platinum

[Smerri1029]

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@Anonymous wrote:

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@aamex wrote:

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@Open123 wrote:

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@aamex wrote:

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@MrShush wrote:
+3 to the complimentary cocktails that id easily spend $50 on prepping pre-flight.

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Im a huge fan of free food any way.. lol

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I suspect this is one of those universal attributes we were all given from birth!

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"FREE IS ME". I did more research on the 20% MR First points back.. very good feature.

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This is mostly thought of as one of the worst ways to redeem among the FT forms. Most of the time you will get more value if you transfer to a FF/FG account. In essence the 20% back means your points are worth 1.25 per point. Full benefits are here http://exploreplatinum.americanexpress.com/Benefits/AllBenefits

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Generally transferring Membership Rewards to Frequent Guest is a terrible redemption. Usually transferring to FF programsis the much better the redemption.

[Anonymous]

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@Smerri1029 wrote:

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Generally transferring Membership Rewards to Frequent Guest is a terrible redemption. Usually transferring to FF programsis the much better the redemption.

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Depends on the current promo. Usually international bus is the best redemption but I was able to snag a 31K MR point transfer to Delta for 2 Hawaii tickets. Delta was having an excellent promo and I got it just in time.

[dmbtay]

We've had AMEX platinum for the last two years Its a solid card.  However, if you are not a traveler, then this card probably won't pay off for you.  The rewards are very fine tuned, and focused at people who have the income to live the higher lifestyle (at times).  The platinum card opens the door to some amazing cruises, hotels, etc.  If you find a good business class fair and use the companion ticket, then you've paid the annual fee 10x.  Also airport lounges as mentioned are really nice (except you have to be flying on that airline, and they got rid of United / Continental).  The rewards aren't as obvious as they seem and you really have to study the card to maximize your benefits.  Finally, as a businesman carrying the platinum card shows a sign of elegance & power, and for that we are willing to pay the fee.  For the average credit card user or for low income (We charge roughly $100k per year).  , its absolutely not worth it.

[Smerri1029]

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@Anonymous wrote:

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@Smerri1029 wrote:

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Generally transferring Membership Rewards to Frequent Guest is a terrible redemption. Usually transferring to FF programsis the much better the redemption.

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Depends on the current promo. Usually international bus is the best redemption but I was able to snag a 31K MR point transfer to Delta for 2 Hawaii tickets. Delta was having an excellent promo and I got it just in time.

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Right. FF programs are the good transfer, not frequent guest. Delta = FF

[crunching_numbers]

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@Smerri1029 wrote:

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@Anonymous wrote:

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@Smerri1029 wrote:

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Generally transferring Membership Rewards to Frequent Guest is a terrible redemption. Usually transferring to FF programsis the much better the redemption.

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Depends on the current promo. Usually international bus is the best redemption but I was able to snag a 31K MR point transfer to Delta for 2 Hawaii tickets. Delta was having an excellent promo and I got it just in time.

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Right. FF programs are the good transfer, not frequent guest. Delta = FF

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I have done well transferring into Hilton Honors. It is not 1 for 1, and calculating out what discounted rooms were selling for, I have come out ahead more than once.  Have yet to have other FG programs work out to my advantage though.  

[Anonymous]

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@Smerri1029 wrote:

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@Anonymous wrote:

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@Smerri1029 wrote:

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Generally transferring Membership Rewards to Frequent Guest is a terrible redemption. Usually transferring to FF programsis the much better the redemption.

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Depends on the current promo. Usually international bus is the best redemption but I was able to snag a 31K MR point transfer to Delta for 2 Hawaii tickets. Delta was having an excellent promo and I got it just in time.

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Right. FF programs are the good transfer, not frequent guest. Delta = FF

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Yes, I know. But like the poster above me has said, FG can have decent rates. Sometimes they have great promos if you transfer a certain amount of points. It all depends on what you value. If you need to book a hotel and get a better rate or last minute deal with points than it can work better for you than gift cards. YMMV

[aamex]

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@dmbtay wrote:

We've had AMEX platinum for the last two years Its a solid card.  However, if you are not a traveler, then this card probably won't pay off for you.  The rewards are very fine tuned, and focused at people who have the income to live the higher lifestyle (at times).  The platinum card opens the door to some amazing cruises, hotels, etc.  If you find a good business class fair and use the companion ticket, then you've paid the annual fee 10x.  Also airport lounges as mentioned are really nice (except you have to be flying on that airline, and they got rid of United / Continental).  The rewards aren't as obvious as they seem and you really have to study the card to maximize your benefits.  Finally, as a businesman carrying the platinum card shows a sign of elegance & power, and for that we are willing to pay the fee.  For the average credit card user or for low income (We charge roughly $100k per year).  , its absolutely not worth it.

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Good points made. I do travel a pretty fair amount, mostly domestic. +1 to it being a sign of elegance & power. I'm definitely going to study up on the benefits more. I don't imagine I'll be charging more than 35-45k on the card a year. But I still think if charged wisely thats more than enough for me.

[CreditScholar]

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@dmbtay wrote:

We've had AMEX platinum for the last two years Its a solid card.  However, if you are not a traveler, then this card probably won't pay off for you.  The rewards are very fine tuned, and focused at people who have the income to live the higher lifestyle (at times).  The platinum card opens the door to some amazing cruises, hotels, etc.  If you find a good business class fair and use the companion ticket, then you've paid the annual fee 10x.  Also airport lounges as mentioned are really nice (except you have to be flying on that airline, and they got rid of United / Continental).  The rewards aren't as obvious as they seem and you really have to study the card to maximize your benefits.  Finally, as a businesman carrying the platinum card shows a sign of elegance & power, and for that we are willing to pay the fee.  For the average credit card user or for low income (We charge roughly $100k per year).  , its absolutely not worth it.

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+1. Amex plat is geared towards well-to-do travellers and frankly isn't a good value for anyone else (save a few rare cases). If you don't travel at least a few times annually (long-haul domestic or internationally) and push about 25k through per year, you probably won't benefit that much.

I cringe when people say they want an Amex plat, but then their annual spend is around 10k with virtually no travelling involved.

[haulingthescoreup]

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@CreditScholar wrote:

+1. Amex plat is geared towards well-to-do travellers and frankly isn't a good value for anyone else (save a few rare cases). If you don't travel at least a few times annually (long-haul domestic or internationally) and push about 25k through per year, you probably won't benefit that much.

I cringe when people say they want an Amex plat, but then their annual spend is around 10k with virtually no travelling involved.

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+2

Paying Plat fees on low-ish usage, when you don't have the types of activity that result in serious rewards, isn't going to help you get ahead. Do something smart, like getting a cash rewards card in an area where you spend a lot, and turn that rewards money into something useful.

I fly maybe three times a year, and even though my trips always involve connections (and nice potential for using a lounge), it just doesn't make sense FOR ME financially to have a Plat.

Credit ought to be a tool. Chainsaws are great, but if you don't have any trees, it's kinda dumb having one. Lawn mowers are wonderful, unless your entire yard is a combo of paving, flower beds, and pool.

Don't pay $450/ year unless and until you can reasonably foresee recouping the fee in rewards. Unless, of course, you simply want to flash it around, and impress people who maybe can't do the math.

But if you fly A LOT, this can be a great card.

edited in a stubborn attempt to make html behave

edited again: gah

[pipeguy]

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@haulingthescoreup wrote:

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@CreditScholar wrote:

+1. Amex plat is geared towards well-to-do travellers and frankly isn't a good value for anyone else (save a few rare cases). If you don't travel at least a few times annually (long-haul domestic or internationally) and push about 25k through per year, you probably won't benefit that much.

I cringe when people say they want an Amex plat, but then their annual spend is around 10k with virtually no travelling involved.

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+2

Paying Plat fees on low-ish usage, when you don't have the types of activity that result in serious rewards, isn't going to help you get ahead. Do something smart, like getting a cash rewards card in an area where you spend a lot, and turn that rewards money into something useful.

I fly maybe three times a year, and even though my trips always involve connections (and nice potential for using a lounge), it just doesn't make sense FOR ME financially to have a Plat.

Credit ought to be a tool. Chainsaws are great, but if you don't have any trees, it's kinda dumb having one. Lawn mowers are wonderful, unless your entire yard is a combo of paving, flower beds, and pool.

Don't pay $450/ year unless and until you can reasonably foresee recouping the fee in rewards. Unless, of course, you simply want to flash it around, and impress people who maybe can't do the math.

But if you fly A LOT, this can be a great card.

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+10 Excellent comments, both !