Goodbye AMEX Platinum Forever

[KJinNC]

Spending power on Amex charge cards fluctuates based on - ? - not sure, I suppose recent use. On m Gold Card, my spending power has been as low as $5,000 and as high as $25,000. It is currently about $12,500, last time I checked (yesterday). If you need to use it for a large purchase, I would suggest calling them first; though from your list of cards, I would imagine you had multiple ways to pay ...

I do see a lot of annual fees in your list. Traveling once or twice a year, as you mentioned, might make it hard to get all the value out of that list. You have a CSR. So, I think closing the Platinum may make sense for that reason.

Personally, I'd sock-drawer the no-AF cards instead of closing them. Because 1) utilization 2) who knows what the future holds. That's just me, though.

As a random response to an earlier comment, the PayPal MC doesn't have an app, but the web interface works fine. Easy to redeem rewards, assuming you have a laptop or at least a tablet ...

[Remedios]

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@Anonymous wrote:

Didn't you hear? We're supposed to be mad at Chase today.

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I couldn't defend 🧦 with the fervor I see sometimes when it comes to Amex. 

[M_Smart007]

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@KJinNC wrote:

Spending power on Amex charge cards fluctuates based on - ? - not sure, I suppose recent use. On m Gold Card, my spending power has been as low as $5,000 and as high as $25,000. It is currently about $12,500, last time I checked (yesterday). If you need to use it for a large purchase, I would suggest calling them first; though from your list of cards, I would imagine you had multiple ways to pay ...

I do see a lot of annual fees in your list. Traveling once or twice a year, as you mentioned, might make it hard to get all the value out of that list. You have a CSR. So, I think closing the Platinum may make sense for that reason.

Personally, I'd sock-drawer the no-AF cards instead of closing them. Because 1) utilization 2) who knows what the future holds. That's just me, though.

As a random response to an earlier comment, the PayPal MC doesn't have an app, but the web interface works fine. Easy to redeem rewards, assuming you have a laptop or at least a tablet ...

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I did realize that in my comment.. it was a Joking way. The spending alerts are out of this world

[Loquat]

I view the Amex Platinum as a niche card.  If you're not traveling regularly then the card really doesn't serve a purpose.  You'd think that a Premium Travel card would offer some sort of bonus category for car rental, trains, parking, tolls, ride share, fuel, primary rental insurance, or at least a bonus if you book directly with airlines AND hotels.   Heck they could at least offer 5x when using an OTA like Chase and even Citi.   But that's probably never going to happen as they want folks to venture over to their often inflated travel portal.

This card falls flat when compared to other travel cards.  However if one wants an access pass to limited and crowded lounges with room temperature soup, hummus, stale crackers, loud talkers and chewers, and on occasion the snorer who really should consider a CPAP machine then this card stands at the ready.  

Teasing this card aside, it truly is for the jetsetter.  Vote with your dollars OP.  Don't hang on to it or downgrade just because others are telling you to.  You know what works best for you.  Don't let the voices of none of us drown out that of your own.  

Best of luck in whatever you decide to do.  

[Anonymous]

As much as I am tempted by 100k MR offer. The math never worked for me. Tried multiple times, just couldn't make it work.

Dealing with headspinning credit installations and 5k minimum spending don't help with decision neither.

[KJinNC]

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@Anonymous wrote:

As much as I am tempted by 100k MR offer. The math never worked for me. Tried multiple times, just couldn't make it work.

Dealing with headspinning credit installations and 5k minimum spending don't help with decision neither.

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I have been over the math many times, and even though I would get a $150/year statement credit due to the Corporate Advantage Program (at least until I leave my company or they discontinue the program), I still struggle to make the math work. I had been planning to eventually downgrade my Hilton card (it is an Aspire, with PP), which would mean no lounge access; I would then be willing to go a little beyond pure math to have lounge access; my plan was to get a CSR late next year when I'm below 5/24, but now I'm rethinking the math there, too. I may just get the Platinum and be done with it.

[adelphi_sky]

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@KJinNC wrote:

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@Anonymous wrote:

As much as I am tempted by 100k MR offer. The math never worked for me. Tried multiple times, just couldn't make it work.

Dealing with headspinning credit installations and 5k minimum spending don't help with decision neither.

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I have been over the math many times, and even though I would get a $150/year statement credit due to the Corporate Advantage Program (at least until I leave my company or they discontinue the program), I still struggle to make the math work. I had been planning to eventually downgrade my Hilton card (it is an Aspire, with PP), which would mean no lounge access; I would then be willing to go a little beyond pure math to have lounge access; my plan was to get a CSR late next year when I'm below 5/24, but now I'm rethinking the math there, too. I may just get the Platinum and be done with it.

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Yeah. There is really no option left. I mean $550 AF just for the privilage of using the card. These banks are pulling in millions based on the tax breaks. They should be offering more not less. But here we are. 

I currently have the Amex Plat, AMex Aspire, and the CSR. That's $550+$450+$550. I REALLY like HIltons and I get Diamond status with them. I like the reserved parking spaces.   

I keep reading about the Altitude Reserve. I am a US Bank customer. That and the Hilton Aspire may be a good combo. 

[iced]

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@Remedios wrote:

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@Anonymous wrote:

Didn't you hear? We're supposed to be mad at Chase today.

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I couldn't defend 🧦 with the fervor I see sometimes when it comes to Amex. 

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Indeed, it is pretty impressive how emotional some people get over a credit card. To read how someone describes a sacred bond between life-long friends being betrayed somtimes describes less pain than some of the posts I read around here.

It's almost as impressive as the "vengeance" that some take by closing cards or moving spend, as if somehow it will result in some executive huddled in the fetal position crying about the one that got away...if only they hadn't of taken AA!

[simplynoir]

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@iced wrote:

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@Remedios wrote:

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@Anonymous wrote:

Didn't you hear? We're supposed to be mad at Chase today.

---

I couldn't defend 🧦 with the fervor I see sometimes when it comes to Amex. 

---

Indeed, it is pretty impressive how emotional some people get over a credit card. To read how someone describes a sacred bond between life-long friends being betrayed somtimes describes less pain than some of the posts I read around here.

It's almost as impressive as the "vengeance" that some take by closing cards or moving spend, as if somehow it will result in some executive huddled in the fetal position crying about the one that got away...if only they hadn't of taken AA!

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In the retail industry we call that a Karen

[adelphi_sky]

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@iced wrote:

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@Remedios wrote:

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@Anonymous wrote:

Didn't you hear? We're supposed to be mad at Chase today.

---

I couldn't defend 🧦 with the fervor I see sometimes when it comes to Amex. 

---

Indeed, it is pretty impressive how emotional some people get over a credit card. To read how someone describes a sacred bond between life-long friends being betrayed somtimes describes less pain than some of the posts I read around here.

It's almost as impressive as the "vengeance" that some take by closing cards or moving spend, as if somehow it will result in some executive huddled in the fetal position crying about the one that got away...if only they hadn't of taken AA!

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I see it this way. If these were no fee cards. Sure, whatever. But if you're paying a fee just to have the card in your wallet, and they take adverse actions on your card when the no-fee cards leave you alone, I think that deserves some emotion. It's like a cable company yanking your sports package on the weekend during playoffs because some AI program thinks you are at risk of not paying your cable bill. That would piss a few people off. Especially when there are competitors that don't do that to their customers. Or if you're leasing a car and the bank reduces your mile allowance just before you're about to take a trip because their AI said you're a higher risk for not paying the car note. ALl the while you ahve been paying all of your bills on time without fault for years. I would certainly take my business to their competitor after ripping them a new one.

 Silence and apathy signals to them that they can do anything they want and we just accept it. But we know the squeaky wheels always get the grease.