Been Approved for Gold Premier Rewards but should I have gone Platinum?

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Boomer3811
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Been Approved for Gold Premier Rewards but should I have gone Platinum?

Postby Boomer3811 » Thu Mar 05, 2015 10:43 am

I really don't like how AmEx makes it incredibly hard to figure out which cards you would be approved for before applying and putting that hard inquiry on your credit.

With that said I opted for the Gold Premiere Rewards, I was approved. I am a homeowner, I didn't have any accounts with AmEx before I applied for the Gold Card and my credit score is right under 7, I'm 30 served in the military got into the Oil Industry and I've made some investments that have worked out.

I've read and heard that the Platinum card has the best benefits but a lofty annual fee. I fly maybe 2 times a year but my job requires me to drive quite a bit and stay in hotels throughout the state (Oklahoma). I figured the Gold Premiere was the perfect fit with Gas and Groceries but should I have gone for the platinum? And if its needed to be known I make over 70k with side investments that contribute to my income as well.


Brad Bishop
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Postby Brad Bishop » Thu Mar 05, 2015 12:12 pm

Sounds like you got the right card, to me.

The only other thing I would have suggested is going for a specific hotel co-branded card based your usage.

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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Mar 05, 2015 1:03 pm

The Platinum is for people who fly a lot and like airport lounges.

I find the PRG useful but it isn't really a card for hotels - except for expensive ones in a special Amex program.*

I'd have gone for a CSP or maybe a Hyatt or other hotel card.

*Edit: Am I right about this? Has anyone gotten a room through Amex FHR at a cheap hotel?
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Battery111
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Postby Battery111 » Thu Mar 05, 2015 8:24 pm

It sounds like you picked the right card for your uses, at least from AMEX. There are some use cases where it can make sense to have both but if I could only have one it would be the PRG. The platinum just isn't as useful for day to day spend. It actually kind of sounds like the CSP would have been a better fit for you, but I like American Express and think it's worth establishing an account with them.
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Boomer3811
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Postby Boomer3811 » Fri Mar 06, 2015 11:22 am

Thanks guys appreciate the help, sticking with the PRG.

Boomer3811
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Postby Boomer3811 » Fri Mar 06, 2015 11:25 am

One thing I was also curious about, with the Platinum it seems that there are a lot of programs that you have to enroll in after you receive the card, why would these programs not already be apart of the benefits of the card? Do they cost extra on top of the annual fee? Thanks in advance.

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Postby takeshi » Mon Mar 09, 2015 9:09 am

Boomer3811 wrote:I really don't like how AmEx makes it incredibly hard to figure out which cards you would be approved for before applying and putting that hard inquiry on your credit.

No creditor will tell you what you would be approved for. You have to apply to find out. However, you can learn about the factors used in assessing and scoring credit and review your own reports.

Besides, underwriting criteria for all of their charge cards aside from the Centurion are the same. It's just a matter of selecting the charge card that suits you best looking at benefits, rewards, AF, etc.

Once you've established membership typically future card apps only result in a hard pull if approved and soft if denied. That said, it's YMMV and some existing members have had hard pulls for denials.

Boomer3811 wrote:I've read and heard that the Platinum card has the best benefits but a lofty annual fee. I fly maybe 2 times a year but my job requires me to drive quite a bit and stay in hotels throughout the state (Oklahoma). I figured the Gold Premiere was the perfect fit with Gas and Groceries but should I have gone for the platinum? And if its needed to be known I make over 70k with side investments that contribute to my income as well.

Best is always highly subjective regardless of topic. You have to review the features and benefits of the two and determine which is best for you just as you would with any card. It's not a one-size-fits-all matter. Some find the benefits of the Platinum worthwhile, some do not. If you want the benefits of the Platinum and they trump the rewards earn rate on the PRG then the Platinum might have been a better fit. If the rewards earn rate on the PRG trumps the Platinum travel benefits for you then the PRG is the better fit. Some even find both to be useful given the differences in the cards. Again, you have to determine which options works best for you. I don't find either useful myself.

Boomer3811
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Postby Boomer3811 » Tue Mar 10, 2015 11:25 am

why does it take so long for a message to be approved?

Boomer3811
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Postby Boomer3811 » Tue Mar 10, 2015 11:27 am

wow, ok that one was immediately approved but the one where I was thanking Takeshi still hasn't posted? It's been well over 24 hours. Anyways, thank you Takeshi for your insight. I am still curious about the enrollment options that come with the Platinum card. Do you have to pay extra to enroll in these. If not, then why don't they come automatically included as a benefit with the card. Thanks in advance.

ingramjuan
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Re: Been Approved for Gold Premier Rewards but should I have gone Platinum?

Postby ingramjuan » Sat Apr 25, 2015 12:16 am

I was thinking the same as you of if I should apply for the Gold and or Platinum card 2 days ago. Well since my job will be paying the AF, I decided to go for the platinum with all the traveling I do. Four minutes later I was approved. For my personal use, the gold card would have worked as well.
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