Vanilla Platinum to Schwab Plat

CBartowski · ‎12-11-2019

So my end goal has always been to have the CS Plat for the redemption option to the brokerage account. However, when I was given an opportunity at the 100k, had to take it so now I have the regular vanilla Plat.

What do you all think is the best strategy for switching? Applying for CS while I still have the vanilla to avoid looking like I'm gaming Amex or cancel/downgrade vanilla THEN apply. Thoughts?

NRB525 · ‎12-11-2019

Congrats on the 100k version. When did you open that card?

I would not think there is any rush, as my information is the MR accounts are the same. Earn MR with the Platinum and Gold you have, no use of MR. At the next Platinum AF, app Schwab, then request AMEX close that one. Then switch to redeeming with the CS Plat.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

CBartowski · ‎12-11-2019

Thanks, it was crazy. Had it offered, then it disappeared and it actually came back so I jumped on it for FOMO.

I think I opened it June 2019.

I agree I'm almost 100% the MRs will be fine. My main concern is I simply don't want AMEX to think I'm gaming for SUBs or anything. I do plan to keep the CS plat once I have it for a while, assuming the benefits stay similar with no serious AF increase like other lenders are going thru right now.

Sounds good, I had half a mind to wait for the AF to come around again. Best to wait for the new AF to post before closing? Or before?

randomguy1 · ‎12-11-2019

Don't worry about gaming Amex. They have that lifetime sub policy for a reason. You met the spend you are good. It CS is a slightly different product. Good enough.

simplynoir · ‎12-11-2019

@randomguy1 wrote:
Don't worry about gaming Amex. They have that lifetime sub policy for a reason. You met the spend you are good. It CS is a slightly different product. Good enough.

I slightly disagree here. Assuming OP wants the SUB from the CS as well sometimes AMEX can be a little finnicky about closing cards a year after they're open. If the OP puts spend on the card past the SUB then I think they'll be fine. Little to no activity after SUB complete, close the card and then try applying for another may get the "not eligible for the signup bonus" prompt

CBartowski · ‎12-11-2019

@simplynoir wrote:
@randomguy1 wrote:
Don't worry about gaming Amex. They have that lifetime sub policy for a reason. You met the spend you are good. It CS is a slightly different product. Good enough.
I slightly disagree here. Assuming OP wants the SUB from the CS as well sometimes AMEX can be a little finnicky about closing cards a year after they're open. If the OP puts spend on the card past the SUB then I think they'll be fine. Little to no activity after SUB complete, close the card and then try applying for another may get the "not eligible for the signup bonus" prompt

That is kind of where my mind was. I have had a fair amoutn of spend on it and will continue using it and dont plan on applying for CS tomorrow but I would like it to happen at some point.

One thought was get the CS while I have the reg and use the hell out of the airline credits, etc before cancelling.

simplynoir · ‎12-11-2019

@CBartowski wrote:
@simplynoir wrote:
@randomguy1 wrote:
Don't worry about gaming Amex. They have that lifetime sub policy for a reason. You met the spend you are good. It CS is a slightly different product. Good enough.
I slightly disagree here. Assuming OP wants the SUB from the CS as well sometimes AMEX can be a little finnicky about closing cards a year after they're open. If the OP puts spend on the card past the SUB then I think they'll be fine. Little to no activity after SUB complete, close the card and then try applying for another may get the "not eligible for the signup bonus" prompt
That is kind of where my mind was. I have had a fair amoutn of spend on it and will continue using it and dont plan on applying for CS tomorrow but I would like it to happen at some point.

One thought was get the CS while I have the reg and use the hell out of the airline credits, etc before cancelling.

I...actually so no real reason this can't be done if you don't mind the upfront costs from the AF with the new card. You did mention you're still using the vanilla plat and assuming the "no SUB for you" prompt doesn't populate for the Schwab version it should be fine

Hypothetically at least