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Huge Amex Platinum Welcome Offer 230K+

notmyrealname23
Established Contributor

Re: Huge Amex Platinum Welcome Offer 230K+


@wasCB14 wrote:


The value of one Platinum, based on credits (incl. Schwab) and a few lounge visits, is pretty clear for me.

 


I did the math (literally, spreadsheet). Made a copy and plugged in my own numbers. I have to put very high value on lounges/5x airfare/FHR to make Platinum worthwhile. I don't (I can actually make Green pencil out better than Platinum based on my spend patterns). Fin.

First Tech FCU Choice Rewards World MC 35k
Fidelity VISA Signature 11.5k
Capital One Quicksilver 11k
AMEX Hilton Aspire 9.8k
Charles Schwab AMEX Platinum NPSL
Amex Gold NPSL
Amex Green NPSL
SoFi MC World Elite 8k
AMEX Marriott Bonvoy Brilliant 7.5k
Rakuten Synchrony Visa 7k
PayPal Synchrony MC 6.4k
Citi AA Mileup 6.9k
Petal2 VISA 6k
DiscoverIt Cashback 5k
Amazon/Synchrony 5k
Hotels.com 5k
Apple Card 3k
AMEX Delta Gold 3k
Cathay Pacific/Synchrony 2.5k
Target 800
Ch 13 filed 12/13 discharged as paid 1/19
Message 21 of 105
Citylights18
Established Contributor

Re: Huge Amex Platinum Welcome Offer 230K+

I see only a few reasons to move on this offer.

 

1) If you really think AMEX Platinum will be part of your long term card strategy.

2) If you are low on membership rewards and need the boost for upcoming travel.

3) If you aren't under any other promotional spend.

4) If you don't have otherwise any lounge access and need it otherwise.

 

Personally in my situation it would be overkill. Flying over the next year is not a given. I'd rather just continue making a run at Hyatt Explorist and with an extra 5,000 spend its 2 more qualifying nights. I was spotted 10 nights as part of WoH sign up promotion plus extedended earning years for everything, including until the end of 2021 for my free night after spending 15,000.

 

From my experience as well the best offers hit Nov-Feb. Last year AMEX Platinum had a 125,000 point offer that I was eligible for. I wouldn't worry about something like this coming back around.

Official travel point totals as of 7/17/20 (361,553 Total Points)
Chase Ultimate Rewards 152,226
World of Hyatt 94,737
AMEX Membership Rewards 63,796
AA Advantage 15,244
United MileagePlus 13,316
British Airways Avios 11,332
Citi Thank You 2,850
Hilton Honors 2,157
NASA Platinum Rewards 1883
Marriott Bonvoy 1,350
Jet Blue TrueBlue 885
Southwest Rapid Rewards 762
Expedia Points 740
Delta Sky Miles 175
Virgin Atlantic Virgin Points 100
Hotels.com Rewards 6/10 ($135.99)
Message 22 of 105
1GaDawg85
Valued Contributor

Re: Huge Amex Platinum Welcome Offer 230K+

this offer almost feels like AMEX telling consumers to get in while the door is open because we know **bleep** is gonna hit the fan soon enough



FICO 5 ,4, 2 - 8/2021

FICO 8 - 8/2021

FICO 9 - 8/2021


Message 23 of 105
iced
Valued Contributor

Re: Huge Amex Platinum Welcome Offer 230K+


@1GaDawg85 wrote:

this offer almost feels like AMEX telling consumers to get in while the door is open because we know **bleep** is gonna hit the fan soon enough


I see it more as they're trying to offer an olive branch to entice new users who might otherwise be more skittish right now. It's not like they haven't been showering existing cardholders with offers as of late, too. The shop small and streaming credits alone were as much as the travel credit is, and they've been doing a lot of other heavy multipliers and statement credits (Dell and GH statement credits also come to mind).

Message 24 of 105
dberryhill
Valued Contributor

Re: Huge Amex Platinum Welcome Offer 230K+

Wow. That might actually entice me. Those are some pretty nice benefits. With the supposed rumors of the airline credit becoming friendlier, I might be in.

Bourbon and bow ties.
Current Cards:



2020 Goals:
$100K total CL (through organic/soft pull growth; COMPLETE!)
750+ across bureaus
No real goal cards for now
Garden Forever.
Message 25 of 105
mr_suave
Established Contributor

Re: Huge Amex Platinum Welcome Offer 230K+


@wasCB14 wrote:

I may go for this and then downgrade to Gold after a year.

 

My only hesitation is that I'll likely be unable to use the $200 airline extras credit for 2020. Or do any airlines still have eligible GCs that get the credit?


I think u can trigger the credit with southwest as long as the flight is below 100$. 

Amex Green NPSL, Amex Hilton Surpass 5k, Amex Marriott Bonvoy 1k, AMEX BBP 1k, AMEX Biz Cash 6k, BOA Cash Rewards 5k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 11.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 8k, Citi Advantage Platinum 5.5k, US Cash+ 3.5k, Altitude Reserve 12.5k, Paypal Mastercard 4k, Apple Card 6.5k, Wells Fargo Cash Wise 5k, BOA Premium Rewards 8k, Citi AA Biz 1.5k, Flexperks Biz 3k
Message 26 of 105
MrDisco99
Valued Contributor

Re: Huge Amex Platinum Welcome Offer 230K+

Wow... that's an impressive offer.

 

That fee, though.  And I'm pretty sure I wouldn't keep it past the first year.  All the standard lounge and status benefits just aren't worth the cost to me.

 

As much as I'd love to pad my MR point balance by more than 100K points pretty quick, I think I'm passing on this.  If I knew for sure that I could do a big trip next year I might have gone for it.

 

Message 27 of 105
blindambition
Community Leader
Senior Contributor

Re: Huge Amex Platinum Welcome Offer 230K+

This offer is a no brainer for anyone who could maximize categories.

Smiley Surprised

Message 28 of 105
K-in-Boston
Moderator

Re: Huge Amex Platinum Welcome Offer 230K+

It's interesting hearing all of the different perspectives.  Certainly the card and its associated annual fee isn't for everyone. 

 

I received a 75k for $20k spend offer when I got my Business Platinum this year (and even without the Welcome Offer, it makes sense for me to have it due to the way I use my MRs since the AF is more than covered that way even before taking out things like airline and Dell credits), but I am pretty sure I got no Welcome Offer on my American Express Card (later converted to "The American Express Card Now With Membership Rewards" - those names! LOL) or my American Express Gold Card, nor did I receive an upgrade offer changing them to Platinum and Premier Rewards Gold.  For me they just make sense even without the Welcome Offers.

 

And @wasCB14 is a great example of where if someone is already considering grabbing the Gold Card anyway, it's certainly worth considering grabbing this offer instead for its 10x categories and then evaluating a downgrade to Gold after a year.  Even solely using the card for something extremely reasonable like $250 a month in restaurants (morning coffee and a takeout meal or two a week should do it) and $150 a week in groceries/gas, that would result in 115,500 MRs and a $300 statement credit.  Even with low value redemptions, that's $808.50 to use during Amazon, Newegg, or Walmart checkout.  Step up to Amex Travel or even Home Depot gift cards and it's at least $1,155.  Move the points to an airline and it can go up, up , up.  All for a $250 net annual fee after the $300 restaurant statement credit - and before even considering things like the $200 airline credit (which could technically be used twice), the Uber/UberEats credits of $200, the 2x $50 Sak's Fifth Avenue credits, and any monetary value one may place on the perks of the card and the remaining monthly credits for 2020 that Amex is offering.

Message 29 of 105
wasCB14
Super Contributor

Re: Huge Amex Platinum Welcome Offer 230K+


@Citylights18 wrote:

I see only a few reasons to move on this offer.

 

1) If you really think AMEX Platinum will be part of your long term card strategy.

2) If you are low on membership rewards and need the boost for upcoming travel.

3) If you aren't under any other promotional spend.

4) If you don't have otherwise any lounge access and need it otherwise.

 

Personally in my situation it would be overkill. Flying over the next year is not a given. I'd rather just continue making a run at Hyatt Explorist and with an extra 5,000 spend its 2 more qualifying nights. I was spotted 10 nights as part of WoH sign up promotion plus extedended earning years for everything, including until the end of 2021 for my free night after spending 15,000.

 

From my experience as well the best offers hit Nov-Feb. Last year AMEX Platinum had a 125,000 point offer that I was eligible for. I wouldn't worry about something like this coming back around.


Though if someone already has a few other Amex cards, getting a better offer may be tricky.

 

CardMatch has never produced a 100k offer for me. You were targeted for the 125k but I wasn't. So even without my particular interest in a workaround to Amex Gold, I figured this might be the best offer I was going to get on a regular Amex Platinum.

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, CFF+CF, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCE, EDP
SUB: JetBlue, Amex Platinum
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 30 of 105
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