Let's be honest with AMEX.

[plasticcards]

Amex Platinum... Ive been traveling the past months so having this card is great. However i will be done travelling in January and then maybe once or twice a year If that I will be travelling. So my dilemma should I keep my card and renew it when the time comes? I kinda wanna keep it for the status of the platinum card to be honest. Is that stupid? 

[blondy250]

Amex plat holder here. If your not using it it enough to justify the annual fee, then covert it to the green card ( you can always go back) As per the status don't see it impressing anyone outside of the Denny's, Walmart crowd (no offense intended)

[ezdoesit]

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@plasticcards wrote:

Amex Platinum... Ive been traveling the past months so having this card is great. However i will be done travelling in January and then maybe once or twice a year If that I will be travelling. So my dilemma should I keep my card and renew it when the time comes? I kinda wanna keep it for the status of the platinum card to be honest. Is that stupid? 

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I definitely don't think it is stupid at all.  It is what you want it to be if you like the status that goes with the card and don't mind paying the AF then keep it but if you feel that the AF is to high to justify keeping it then you can just think about just downgrading to the PRG which in my opinion is not much of a downgrade because I think it is a pretty good card. 

[n777ua]

Given the fact that most cashiers don't know a CapOne plat from an Amex plat, if thats the only reason you want it - well its your money.

If you've been using all the benefits (concierge, $200 airline credit, etc) then $495 really isn't too bad.  Of course, you need to decide.  The credit underwriting standards are exaclty the same for Green vs Plat, so if you'd be keeping it in hopes of getting a higher spend profile, that wouldn't work.

I got the Plat a few years ago just for the sake of it, but I was traveling quite a bit.  When I stopped traveling, I downgraded to the Green.  If I start traveling quite a bit again, I'll probably go back to the Plat.

[coldnmn]

If it makes you happy and you don't mind the cost it's not stupid, most have done a lot worse in their life.

[dodgerslv]

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@plasticcards wrote:

Amex Platinum... Ive been traveling the past months so having this card is great. However i will be done travelling in January and then maybe once or twice a year If that I will be travelling. So my dilemma should I keep my card and renew it when the time comes? I kinda wanna keep it for the status of the platinum card to be honest. Is that stupid? 

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is not stupid..its really up to what you want. I for one dont mind paying high AF for elite status cards with great rewards. I have the AAdvantage Elite World MC with a 400 AF and the United Club with a 450 fee (i think). I travel about 5 times a year so im sure that doesnt justify the rewards and AF but i sure love using their lounges when i do travel and always tell myself at the moment it is worth the ridiculous AF... Im sure others may think i am crazy for paying 800 dollars a year to have 2 cards but like you said, i wanna keep the elite status of both cards.

[Walt_K]

You could apply separately for the PRG and get a bonus and have no annual fee for the first year, so I would not PC to the PRG.  I would separately apply and then cancel the Platinum card if that is your strategy.  If you have a specific reason to be extra inquiry sensitive, e.g., an upcoming mortgage app, then maybe you want to PC.

It's just a piece of plastic.  It has some nice benefits, but I don't think it is worth paying for for any perceived prestige.  I carry the card myself.  I've called to cancel it before when my travel decreased.  I kept it due to a retention bonus offer and now my travel has increased again.  

[Walt_K]

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@dodgerslv wrote:

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@plasticcards wrote:

Amex Platinum... Ive been traveling the past months so having this card is great. However i will be done travelling in January and then maybe once or twice a year If that I will be travelling. So my dilemma should I keep my card and renew it when the time comes? I kinda wanna keep it for the status of the platinum card to be honest. Is that stupid? 

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is not stupid..its really up to what you want. I for one dont mind paying high AF for elite status cards with great rewards. I have the AAdvantage Elite World MC with a 400 AF and the United Club with a 450 fee (i think). I travel about 5 times a year so im sure that doesnt justify the rewards and AF but i sure love using their lounges when i do travel and always tell myself at the moment it is worth the ridiculous AF... Im sure others may think i am crazy for paying 800 dollars a year to have 2 cards but like you said, i wanna keep the elite status of both cards.

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You could buy day passes to the lounge for much cheaper given that you are only traveling 5 times per year.  You may have other reasons to keep the cards, but these are the kinds of questions the OP should ask himself.  How much is he using the benefits he really cares about, and are there alternative ways of getting those same benefits for less money.

[longtimelurker]

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@dodgerslv wrote:

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is not stupid..its really up to what you want. I for one dont mind paying high AF for elite status cards with great rewards. I have the AAdvantage Elite World MC with a 400 AF and the United Club with a 450 fee (i think). I travel about 5 times a year so im sure that doesnt justify the rewards and AF but i sure love using their lounges when i do travel and always tell myself at the moment it is worth the ridiculous AF... Im sure others may think i am crazy for paying 800 dollars a year to have 2 cards but like you said, i wanna keep the elite status of both cards.

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Well, might be worth it for the lounges even though there are probably cheaper ways.   But "keep the elite status of both cards".   Who knows that these cards are in any way elite?  Maybe the airline staff I guess.  Doubt if anyone else recognizes them as being "elite".  Even the Dennys/Walmart crowd referenced above wouldn't know!

[watch44]

Platinum has no FTF. So if you spend a lot (16666 is breakeven point) while traveling outside the country, that alone will offset the AF.