AF on Platinum just Posted

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rockyrock
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AF on Platinum just Posted

Postby rockyrock » Mon Sep 15, 2014 10:30 pm

The moment has finally arrived. The AF on my Platinum just posted so I have to decide what to do. I am very much inclined to cancel the card and just open a Green or PRG.

I haven't used a Platinum perk in months. I have to admit I will miss seeing it in my wallet. :( Even though I have had it since 2006 I never tire of the sight of it--can't say that about any other card.

It will be the first of most of my cards to be closed in an effort to simplify my portfolio. My goal is to get down to four cards but still maintain >$100k of available credit. That will be tough with one of those cards being a charge card but I think it's doable. My Marriott is >$32k, NFCU is $25k and if I consolidate my USAA cards I can get ~$30k. I may keep my Discover as well to have one card from each of the major networks and to push me over $100k.

Any thoughts?
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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Sep 15, 2014 10:49 pm

I have never had a Platinum, nor have I yet paid an AF on my PRG, so maybe I don't get something here, but...

If the AF has posted, doesn't that mean the damage is done for the upcoming year? That is, to not pay the $450, you'd have to stiff Amex - which would be inconsistent with switching to another charge card...

I don't think they demand the card back (only for the Centurion?) so you could just keep it...as a powerless piece of plastic in your wallet...and tell people you prefer to use the PRG for the rewards. You'd have to hide it when at the airport, though.

I do like the idea of one card from each major network. For me, though, it will have to be at least one, rather than exactly one. Getting from 10 down to 4 might be a lot harder (and less practical) than you think.
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Postby Darrvao777 » Mon Sep 15, 2014 11:28 pm

CarefulBuilder14 wrote:I have never had a Platinum, nor have I yet paid an AF on my PRG, so maybe I don't get something here, but...

If the AF has posted, doesn't that mean the damage is done for the upcoming year? That is, to not pay the $450, you'd have to stiff Amex - which would be inconsistent with switching to another charge card...

I don't think they demand the card back (only for the Centurion?) so you could just keep it...as a powerless piece of plastic in your wallet...and tell people you prefer to use the PRG for the rewards. You'd have to hide it when at the airport, though.

I do like the idea of one card from each major network. For me, though, it will have to be at least one, rather than exactly one. Getting from 10 down to 4 might be a lot harder (and less practical) than you think.


I believe they prorate the AF so if you cancel immediately after the AF posts, you'll get the bulk of it, if not all of it, back
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onion
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Postby onion » Mon Sep 15, 2014 11:39 pm

Darrvao777 wrote:I believe they prorate the AF so if you cancel immediately after the AF posts, you'll get the bulk of it, if not all of it, back


Correct.

I'd close the Plat, keep in the wallet for looks, and reopen one if you plan on travelling or using the perks again. You could also drop it to a much cheaper card (PRG) and get some better rewards.
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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Sep 16, 2014 11:25 am

Oh, okay. I had thought they only prorated a lower-tier charge card's AF when someone upgraded to one with a higher AF.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

Darrvao777
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Postby Darrvao777 » Tue Sep 16, 2014 11:37 am

rockyrock wrote:The moment has finally arrived. The AF on my Platinum just posted so I have to decide what to do. I am very much inclined to cancel the card and just open a Green or PRG.

I haven't used a Platinum perk in months. I have to admit I will miss seeing it in my wallet. :( Even though I have had it since 2006 I never tire of the sight of it--can't say that about any other card.

It will be the first of most of my cards to be closed in an effort to simplify my portfolio. My goal is to get down to four cards but still maintain >$100k of available credit. That will be tough with one of those cards being a charge card but I think it's doable. My Marriott is >$32k, NFCU is $25k and if I consolidate my USAA cards I can get ~$30k. I may keep my Discover as well to have one card from each of the major networks and to push me over $100k.

Any thoughts?


I'll be the one to stand up for the Platinum. I agree it looks too good in the wallet to close :-)

From a more pragmatic viewpoint though, I've always felt the green is a mistake and doesn't offer much. I would at least spring for the prg if you are looking for some bonus categories. But between the prg and platinum, I'm only seeing about $75 difference after the $200 reimbursement for airline incidentals in the platinum (which you can get flat out gift registries or cards for to fully capitalize on)

For $75 extra, it's worth it for me (even as an infrequent traveler) to have:

Lounge access (particularly the centurion lounge that just opened up near me in LGA)

Statement credit for GOES (even if it is every 5 years)

Higher limits on baggage insurance

FHR access (where some of the perks and upgrades might pay off the entire $450 Af in one swoop anyway)

No foreign transaction fees

Roadside assistance x 4 events per year (canceled my AAA membership)

Car rental upgrades

Purchase protection that covers loss in the first 90 days

But I guess if you really really don't travel or are looking to boost MR points quicker, the PRG isn't too shabby looking either :-)
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Postby MB131174 » Tue Sep 16, 2014 1:19 pm

Darrvao777 wrote:I'll be the one to stand up for the Platinum. I agree it looks too good in the wallet to close :-)

From a more pragmatic viewpoint though, I've always felt the green is a mistake and doesn't offer much. I would at least spring for the prg if you are looking for some bonus categories. But between the prg and platinum, I'm only seeing about $75 difference after the $200 reimbursement for airline incidentals in the platinum (which you can get flat out gift registries or cards for to fully capitalize on)

For $75 extra, it's worth it for me (even as an infrequent traveler) to have:

Lounge access (particularly the centurion lounge that just opened up near me in LGA)

Statement credit for GOES (even if it is every 5 years)

Higher limits on baggage insurance

FHR access (where some of the perks and upgrades might pay off the entire $450 Af in one swoop anyway)

No foreign transaction fees

Roadside assistance x 4 events per year (canceled my AAA membership)

Car rental upgrades

Purchase protection that covers loss in the first 90 days

But I guess if you really really don't travel or are looking to boost MR points quicker, the PRG isn't too shabby looking either :-)


Most points are valid. However I have (personal) beef with a few of them:

- The $200 airline reimbursement really isn't a reimbursement, it's really more of a prepay. True reimbursement is where you've spent no money at all in the end. In the end, you've still spent that $200. You just gave it to American Express instead of the airline directly.

- Lounges. Blah. I try to spend as minimal time in airports as possible. Between the pushing, shoving, groping and dirty bathrooms, they are not a place I like to be. I usually have an hour (at most) to kill in an airport waiting for a flight. Instead of a lounge to get packaged cookies and celery sticks, I will go to an airport restaurant for a meal. Not McDonald's or anything like that. I'll find a decent sit-down establishment, eat a meal, then board my flight. I'd rather board a flight full and be able to know I can fall asleep and not care about missing the inflight meal. I can manage in an airport with a decent restaurant, some wifi and my smartphone or tablet.

- All AmEx cards have purchase protection - including my $95 green card.

For me, the Green Card makes most sense. I spend MAYBE $125 a month on gas (4.5 mile commutes to work are nice!) and not enough at grocery stores (single male, live alone) to justify the PRG. I have thought about upgrading to the plain gold, but I have roadside assistance with my car and I don't attend enough events to worry about preferred seating. I believe in the UK they have a blue charge card that is free, no MR points at all though. Sometimes I think that would catch on somewhat (maybe) here for folks who want to stick to budgets but would want better protection than a debit card offers.
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Darrvao777
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Postby Darrvao777 » Tue Sep 16, 2014 2:45 pm

MB131174 wrote:Most points are valid. However I have (personal) beef with a few of them:

- The $200 airline reimbursement really isn't a reimbursement, it's really more of a prepay. True reimbursement is where you've spent no money at all in the end. In the end, you've still spent that $200. You just gave it to American Express instead of the airline directly.

- Lounges. Blah. I try to spend as minimal time in airports as possible. Between the pushing, shoving, groping and dirty bathrooms, they are not a place I like to be. I usually have an hour (at most) to kill in an airport waiting for a flight. Instead of a lounge to get packaged cookies and celery sticks, I will go to an airport restaurant for a meal. Not McDonald's or anything like that. I'll find a decent sit-down establishment, eat a meal, then board my flight. I'd rather board a flight full and be able to know I can fall asleep and not care about missing the inflight meal. I can manage in an airport with a decent restaurant, some wifi and my smartphone or tablet.

- All AmEx cards have purchase protection - including my $95 green card.

For me, the Green Card makes most sense. I spend MAYBE $125 a month on gas (4.5 mile commutes to work are nice!) and not enough at grocery stores (single male, live alone) to justify the PRG. I have thought about upgrading to the plain gold, but I have roadside assistance with my car and I don't attend enough events to worry about preferred seating. I believe in the UK they have a blue charge card that is free, no MR points at all though. Sometimes I think that would catch on somewhat (maybe) here for folks who want to stick to budgets but would want better protection than a debit card offers.


1) True but if you have to travel anyway, I consider it a reduction off the cost of the AF. I don't travel much but I have conferences maybe once or twice a year and that perk knocks $200 off the price of the ticket. Again, this may not be as useful for someone who doesn't travel at all

2) Agree with you on most lounges, the centurion lounge at the airport I frequent most often really is swanky.

3) all amexes have purchase protection but only the centurion and platinum cover for loss in the first 90 days (the others only cover theft and damage)

I agree everyone has different wants and needs but if you are considering between the charge cards, I very heavily favor the platinum and maybe the prg if you are looking to accumulate Mr points quickly.

Out of curiousity, why do you go with the green? Why not the everyday card which also nets you Mr points with a possibility for a bonus with zero annual fee?
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- Citi Double Cash (backup)
- Chase Sapphire Reserve (just to get the bonus, closing in 2017)

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Postby MB131174 » Tue Sep 16, 2014 2:58 pm

Darrvao777 wrote:1) True but if you have to travel anyway, I consider it a reduction off the cost of the AF. I don't travel much but I have conferences maybe once or twice a year and that perk knocks $200 off the price of the ticket. Again, this may not be as useful for someone who doesn't travel at all

2) Agree with you on most lounges, the centurion lounge at the airport I frequent most often really is swanky.

3) all amexes have purchase protection but only the centurion and platinum cover for loss in the first 90 days (the others only cover theft and damage)

I agree everyone has different wants and needs but if you are considering between the charge cards, I very heavily favor the platinum and maybe the prg if you are looking to accumulate Mr points quickly.

Out of curiousity, why do you go with the green? Why not the everyday card which also nets you Mr points with a possibility for a bonus with zero annual fee?


I like your "reduction" phrasing. It seems more clear and honest than "reimbursement".

Didn't realize Plat also covers lost. Oopsy.

As for why Green - NPSL & I'm forced to pay it off monthly.
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Postby nismoZtuner » Tue Sep 16, 2014 3:35 pm

onion wrote:Correct.

I'd close the Plat, keep in the wallet for looks, and reopen one if you plan on travelling or using the perks again. You could also drop it to a much cheaper card (PRG) and get some better rewards.


haha my friend carries a fake cardboard platinum business card in his wallet.. i troll him all the time
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