Is AMEX PRG worth it?

[Anonymous]

So myFICO experts i need your opinions.

I'm prequalified for the amex prg charge card with a 50k sub as well. I'm only considering this cause of the sub. So is it a good enough offer to go for it? Can i later PC this card to something with no annual fee? Because i primarily look for "basic" cards to serve as a credit foundation at this point but i can make use of the travel benefits to an extent as well. 

Also how do you rate the MR points program? Is it worthy for a person primarily interested in getting airline rewards and not hotels? How does it compare to chase's UR?

Thank you in advance for your input.

[Anonymous]

You cannot PC the PRG to a card with no annual fee. You may only PC the card to the Green (whenever you want), and the Platinum (after one year of having the card open). There are no other PC options available for the PRG at this time. 

As an AMEX user (and not a Chase), I can tell you UR points are more valuable. If you want to transfer to Hyatt, Southwest, United, British Airways, IHG, Airfrance, and Virgin... Then UR points cards are for you. If you want to transfer to Delta, Jet Blue, Hilton, Starwood/Marriott, and others, then choose MR's. 

Unless you're going to use the card heavily (outside of the sign up bonus), accure $100 in airline incidential fees, and take advantage of AMEX's hotels program (with their perks), the card may not be worth it to you. 

[Anonymous]

It proved not to be worth it for me. I just don't travel enough to make it worth the $195 AF.

[Anonymous]

It is worth it the first year. You can get 200 in airline gift cards and 50k MR points could be used to get a 500 dollar gift card. If you fly Delta I would say it might be worth keeping more than 1 year but if not probably better choices. I prefer Citi Thank You Premier as you can book any travel directly for 1.2 cents per point

[redpat]

Worth it.  

MR and UR are both great reward programs.

Amex offers will cover the AF and more after the $100 credit.

My sig says it all, MR and UR, one isn't necessarily better than the other, but having both gives some great options.

[patoot10]

This card is not worth it long term.

I got the same signup bonus but will cancel the card once annual fee hits because there is no free downgrade path.

Then I will keep my points in my Amex Everyday card and redeem them whenever I have a trip.

I think the same goes for CSP but the problem here is that with MR point you can use any card to make the best redemption possible but with UR you need to have CSP or CSR so that's why having the chase trifecta and paying $95 a year is better than paying $195 for a card that doesn't offer much other than signup bonus. Also the $100 airline credit sucks. unless you buy gift cards you can't redeem it for tickets or hotel you really need to go out of your way to redeem it. ( eat on flight or pay for baggage) so saying that after $100 credit it has same annual fee as CSP is just not right.

Same thing goes for Green card you just get it for the 25k bonus after spending $1000 and then close it once AF hits. The platinum card is a different story but then again I think CSR is way better than Platinum so technically speaking Amex premium cards don't offer much if you are trying to justify every single dollar you spend on their AF.

[Anonymous]

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@patoot10 wrote:

...Also the $100 airline credit sucks. unless you buy gift cards you can't redeem it for tickets or hotel you really need to go out of your way to redeem it. ( eat on flight or pay for baggage) so saying that after $100 credit it has same annual fee as CSP is just not right.

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My upgrade from coach to first class on my AA flight was $95 plus tax. Annual fee would have been made up for  right there between that and the bonus categories transferred to partners (flights, restaurants, gas, and groceries). The PRG isn't a frequent flyer's card... It's a card for someone who may fly once or twice a year. 

[Shadowfactor]

It really just depends on your spend and what other cards you have.
It definitely is worth it the first year.

For me, I will be cancelling it after the first year. I spend 8 months a year overseas for work. Amex acceptance is extremely poor in the Caribbean.

If I had been in the US. I most likely would have kept the card and not gotten the Chase CSP

[redpat]

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@patoot10 wrote:

This card is not worth it long term.

I got the same signup bonus but will cancel the card once annual fee hits because there is no free downgrade path.

Then I will keep my points in my Amex Everyday card and redeem them whenever I have a trip.

I think the same goes for CSP but the problem here is that with MR point you can use any card to make the best redemption possible but with UR you need to have CSP or CSR so that's why having the chase trifecta and paying $95 a year is better than paying $195 for a card that doesn't offer much other than signup bonus. Also the $100 airline credit sucks. unless you buy gift cards you can't redeem it for tickets or hotel you really need to go out of your way to redeem it. ( eat on flight or pay for baggage) so saying that after $100 credit it has same annual fee as CSP is just not right.

Same thing goes for Green card you just get it for the 25k bonus after spending $1000 and then close it once AF hits. The platinum card is a different story but then again I think CSR is way better than Platinum so technically speaking Amex premium cards don't offer much if you are trying to justify every single dollar you spend on their AF.

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Yep, another amex hater......

Let's be honest, if you travel a lot for business and personal both cards are a must have IMO.  Plat for perks and 5x and CSR for dining, hotels and rental cars.  If I had to pick one card it would be Biz plat (35% rebate on redemptions takes it, plus perks) over CSR.

[BronzeTrader]

I figure this discussion can keep going going.  It all depends on your spending pattern, particularly travel.

For me, since I'm heavily loaded, this card is on my chopping block.  It is not being used much.  For this year, I used it for J Crew offer ($20 off), Hilton GC ($20 off) and airline credit.  With the AmEx offers, I'm still on top.  But I just have so many other cards to use for all other spendings. I can't find a single category this card stands out.