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Goodbye AMEX Platinum Forever

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adelphi_sky
Frequent Contributor

Goodbye AMEX Platinum Forever

I'm done with AMEX Platinum and I'm going to step down from the points game for a while. AMEX Plat just lowered my spending power at a time when we needed it. Never been late. Always paid on time for 11 years. I look at our relationship in terms of trust. You grant me privilidges to use your card as agreed. I pay the balance every month as agreed. I just don't decide to stop paying AMEX every month because I feel they somehow aren't trustworthy with my payments. If I did, they would end the relationship. Well, the same goes the other way around. If I can't trust them to be available for me when I need them, there is no point in continuing the relationship. 

 

The card was fun to have. But it is pointless. I'm not a jetsetter. Although we do travel internationally every year. And we do try to stay in one of their FHR properties for the perks. I don't spend my money in Saks and Tiffany's every month. I'll leave that to the 1%. 

 

I'll be debt free this year. So, I think the following will be a good mix for me going forward. 

 

Keeping:

AMEX Hilton Aspire   (Love Hilton)

Chase Freedom Unlimited (Can transfer points to CSR for higher point value)

Chase Saphire Reserve (Just because; primary car insurace and $300 travel credit!)

Chase IHG  (Love Kimpton Hotels!)

Chase Amazon (Necessary evil)

Paypal (Convenient and secure)

NASA FCU Credit Card

Costco Visa (Gotta love Costco!)

 

Ditching:

Amex Platinum

Amex Blue Cash

Amex Magnet

Amex Delta

Citi Doublecash

Citi AAAdvantage

US Bank REI

 

Message 1 of 55
54 REPLIES 54
imaximous
Valued Contributor

Re: Goodbye AMEX Platinum Forever

whatever makes you happy!
I'd keep the Citi DC from the ax list Smiley Happy
Message 2 of 55
Shooting-For-800
Senior Contributor

Re: Goodbye AMEX Platinum Forever

I will never forget when they dropped my limits due to ZIP CODE and INDUSTRY WORKED!

You can't make this stuff up.

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 3 of 55
SouthJamaica
Mega Contributor

Re: Goodbye AMEX Platinum Forever


@adelphi_sky wrote:

I'm done with AMEX Platinum and I'm going to step down from the points game for a while. AMEX Plat just lowered my spending power at a time when we needed it. Never been late. Always paid on time for 11 years. I look at our relationship in terms of trust. You grant me privilidges to use your card as agreed. I pay the balance every month as agreed. I just don't decide to stop paying AMEX every month because I feel they somehow aren't trustworthy with my payments. If I did, they would end the relationship. Well, the same goes the other way around. If I can't trust them to be available for me when I need them, there is no point in continuing the relationship. 

 

The card was fun to have. But it is pointless. I'm not a jetsetter. Although we do travel internationally every year. And we do try to stay in one of their FHR properties for the perks. I don't spend my money in Saks and Tiffany's every month. I'll leave that to the 1%. 

 

I'll be debt free this year. So, I think the following will be a good mix for me going forward. 

 

Keeping:

AMEX Hilton Aspire   (Love Hilton)

Chase Freedom Unlimited (Can transfer points to CSR for higher point value)

Chase Saphire Reserve (Just because; primary car insurace and $300 travel credit!)

Chase IHG  (Love Kimpton Hotels!)

Chase Amazon (Necessary evil)

Paypal (Convenient and secure)

NASA FCU Credit Card

Costco Visa (Gotta love Costco!)

 

Ditching:

Amex Platinum

Amex Blue Cash

Amex Magnet

Amex Delta

Citi Doublecash

Citi AAAdvantage

US Bank REI

 


While I think it makes eminent good sense to drop a $550 annual fee card like that, I can't see any point in dropping the no-AF cards you're planning to drop.

 

I would drop, PC, or downgrade those with AF, and keep the rest, myself.


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 4 of 55
Anonymous
Not applicable

Re: Goodbye AMEX Platinum Forever

So what's wrong with Citi DC?

Message 5 of 55
Anonymous
Not applicable

Re: Goodbye AMEX Platinum Forever


@Anonymous wrote:

So what's wrong with Citi DC?


Kind of speaking for OP here, but it looks like they're covered with PayPal on 2%. Looks like they're cutting out cards that overlap 

Message 6 of 55
adelphi_sky
Frequent Contributor

Re: Goodbye AMEX Platinum Forever


@Anonymous wrote:

So what's wrong with Citi DC?


Nothing. I won't generate enough spend on that card for it to matter. I'm tied up in the Chase ecosystem. I've been part of the Citi ecosystem before. I like Chase better. The only good thing about Citi DC is thei 10.50 APR I have on it. But I don't plan on carrying balances. Meh. 

 

Message 7 of 55
adelphi_sky
Frequent Contributor

Re: Goodbye AMEX Platinum Forever


@Shooting-For-800 wrote:

I will never forget when they dropped my limits due to ZIP CODE and INDUSTRY WORKED!

You can't make this stuff up.

 


So much for being a "valued" customer. I took it as a sign they didn't want my business anymore. I'm trying to launch a sofware company. They lost out. THey need to fix their AI or whatever their algorythms are. There is more to a customer than some formula. We are now taking care of a terminally ill family member who planned very well for their future. We were going to put all of the medical spend, backed by cash, on the Amex Plat. They just lost all those potential transaction fees and my annual fee just to use their card. 

Message 8 of 55
Anonymous
Not applicable

Re: Goodbye AMEX Platinum Forever

Considering the latest news with Chase CSR I would keep Citi DC just in case Smiley Happy

Who knows

Message 9 of 55
M_Smart007
Legendary Contributor

Re: Goodbye AMEX Platinum Forever


@Anonymous wrote:

Considering the latest news with Chase CSR I would keep Citi DC just in case Smiley Happy

Who knows


I keep two DC's just in CaseSmiley Tongue

I heard the app for the PayPal is not that greatSmiley Very Happy

Message 10 of 55
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