Rocky with couple days - advice needed

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boneil04
 
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Rocky with couple days - advice needed

Postby boneil04 » Thu May 31, 2012 8:03 pm

About a month ago, I received a mail offer from AMEX for a Premier Rewards Gold Card, 50k points after $1k spent in first three months, and the $175 fee waived for the first year. Not being much of a traveler, I sat on the offer for a while. I gave in last night after deciding the card could always be canceled before my first annual fee came due, and I could find a use for 50k points (I do stay in hotels about once per month and read that I could transfer the points to a hotel membership program).

After entering my RSVP code on AMEX's website two nights ago, I was informed that I was also pre-approved for a Platinum and 100k points (I forget the spending threshold for the bonus points). I clicked on the link because few details were available on this page. Arriving to only a blank application with no new information, I weighed my options for a few minutes before closing out the browser. I just couldn't justify the $450

I returned to the site shortly afterwards, re-entered my RSVP, and filled out an application for the PR Gold. I double checked several times before submitting that I was filling out the proper application, as opposed to the Platinum. Among other things, I made sure to notice the $175 fee.

To my chagrin, after approval, I was welcomed as a Platinum card member. I called customer service first thing yesterday morning and spent 45 minutes on the phone with three different individuals. Although I made sure to mention that I absolutely did not fill out a Platinum application, I did not press the issue. Why should I be believed? Rather, I just wanted them to give me the deal that I wanted -- the PR Gold + 50k points.

Ultimately, the best answer I got was to call back later, cancel the Platinum, and reapply for the PR Gold by telephone. I have not called back, having been too busy and left with a bad taste after the 45 minute ordeal on Wednesday. My Platinum card arrived today. I have not activated.

Not knowing where to turn, I joined this forum in hopes of some advice:

1) If I was to cancel the Platinum and apply for the Gold - how would my credit score be affected? Would the sequence leave two inquiries on my report plus a canceled line? Admittedly, I know little about credit scores and can obtain a credit profile if more information is needed for help on this point.

2) Could I just bite the $450 and request a PR Gold card next year? Would this have a different effect on my credit score than taking immediate action? Would this require the cancel-reapply sequence mentioned above or could they just alter my current account to reflect platinum status rather than gold? (my instinct is "no" because apparently this couldn't be done over the phone yesterday, about 9 hours after I was approved)

3) If I do cancel now, irrespective of reapplying for the PR Gold, am I on the hook for the $450? I can't find an answer to this question in the materials they sent me.

4) What would you do? Bear in mind I travel very infrequently. I do, however, stay in hotels about once per month.

For those of you that made it this far, thank you. Any advice would be highly appreciated.


bmw1990Z
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Postby bmw1990Z » Fri Jun 01, 2012 7:13 am

that is insane!
Cards in my wallet:
-Citi Forward Card for College Students-July 2011
-American Express Platinum Delta Skymiles--July 2013

BCF
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Postby BCF » Fri Jun 01, 2012 7:42 am

First of all, you got a better deal, so don't be disappointed. The points worth more than 1cent so the 50k difference in points is more than the annual fee.
1. If you cancel and apply it would be 2 inquiries. Not a huge loss but why?! You can do a product change after 13 months and get reimbursed for the second year annual fee.

2, 3. I believe you will get reimbursed partially for the annual fee if you cancel the card. So you don't need to wait for one full year.

4. I would keep the platinum and apply for the gold after six months (or in January, if you have a short credit history). Then I would cancel the platinum.

Don't forget to read American Express Platinum Card Benefits

Free Hotel Upgrades & Benefits
AmEx has partnered with over 700 hotels/resorts to offer a wide array of perks and upgrades. This program is called Fine Hotels & Resorts and it is exclusive to Platinum & Centurion "black card" members:
1. Free room upgrade when you check-in, if available
2. 4:00 PM late checkout
3. Complimentary breakfast for two each morning
4. Additional perks like $100 food/drink/spa credits, complimentary third night stays, etc. are offered at many properties
AMEX Blue Cash Preferred 5k
BofA Cash Rewards Visa 5k
BofA World Points MasterCard 4.4k
Kohls Store Card 300

MemberSince99
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Postby MemberSince99 » Fri Jun 01, 2012 8:30 am

I would keep it for now. Try it out. If it doesn't suit your needs, downgrade to the PRG.

On that note, I have noticed some odd things with the online application site. I too got an RSVP for the Gold card in the mail. I filled out the info and it would just not let me advance past the first screen. I didn't get an error - it just would not go to screen 2. I had to wait a while and start from scratch.

JMK
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Postby JMK » Fri Jun 01, 2012 8:47 am

The same thing happened to me when I was trying to apply for the BCP. Had to call customer service to apply.
AMEX Blue Cash Preferred
Chase Sapphire Preferred
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Crashem
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Postby Crashem » Fri Jun 01, 2012 11:56 am

Call Amex executive line 8002976197. Explain situation. They be able to give you more options but I would stress it is technical error on their end with their website
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

thomaswhitehall
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Postby thomaswhitehall » Fri Jun 01, 2012 2:46 pm

If your staying in hotels once per month, I'm assuming this also means you are traveling once per month. Have you given the Platinum card benefits a thought? Seems like you'd be the perfect candidate for a Platinum card with your level of travel...

-Global Entry
-$200 in Airline Fees
-Hotel Upgrades
-Concierge to help you with your travels, etc.

travel points are more aggressive with the PRG but you might get more value out of the Platinum with your lifestyle.

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FastSRT8
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Postby FastSRT8 » Fri Jun 01, 2012 9:08 pm

IF you can afford the $450 keep the platinum! There are many here that are struggling to get it and you have it by default.
Carpe diem quam minimum credula postero!



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