Should I go for a targeted 100k point offer?

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adogg106
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Should I go for a targeted 100k point offer?

Postby adogg106 » Wed Jul 11, 2012 11:21 pm

I'm 23 years old and I am currently being targeted for a Platinum Card with a 100,000 point bonus when I spend $1,000 in the first 3 months. I'm kind of in a dilemma. I just received my Premier Rewards card today and it comes with a 50,000 point bonus when I spend $1,000 in the first 3 months. I don't know if I should apply for the Platinum and cancel my PRG or just keep the PRG and forget the Platinum.

Do you guys think it's worth it? The $450 annual fee with the Platinum is really scaring me but 100,000 points with only $1,000 to spend seems like a deal too good to pass up. I don't really spend a lot of money but I already had plans to buy a new macbook so that should cover the $1,000 requirement. I really want to get points so I can travel places. I might be going to Europe next year and $1,000 towards a flight would go a long way but $500 is also good. So what would you guys do if you were in my position?


Money card
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Postby Money card » Thu Jul 12, 2012 10:55 pm

do you travel on business? do you plan on using the lounges except continental and united? do you rent cars a lot and do you travel out of the country?

Ratfacedudeguy
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Postby Ratfacedudeguy » Fri Jul 13, 2012 7:56 am

I'd take both of the offers man. $1000 in the first 3 months is nothing if you use your Amex card for daily expenses, such as in place of your debit card. So use one card to buy the Macbook and use the other to put your daily expenses on and you've got more than enough to offset the annual fee of the Platinum (redeem $450 worth of statement credit if you want) and take the first year to analyze which card would be more beneficial for you. Whichever you decide, keep that card and cancel the other one. Then depending on whether you redeem points to offset the annual fee or not you could now have up to $1500 towards that trip to Europe.
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NYC_Dweller
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Postby NYC_Dweller » Fri Jul 13, 2012 11:27 am

Here is a similar situation... Check out my response...

http://creditcardforum.com/american-express/4945-amex-plat-first-year-free.html

hematino
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Postby hematino » Fri Jul 13, 2012 10:53 pm

Ratfacedudeguy2 wrote:I'd take both of the offers man. $1000 in the first 3 months is nothing if you use your Amex card for daily expenses, such as in place of your debit card. So use one card to buy the Macbook and use the other to put your daily expenses on and you've got more than enough to offset the annual fee of the Platinum (redeem $450 worth of statement credit if you want) and take the first year to analyze which card would be more beneficial for you. Whichever you decide, keep that card and cancel the other one. Then depending on whether you redeem points to offset the annual fee or not you could now have up to $1500 towards that trip to Europe.


I'd do exactly what he said. If you are planning to travel, 100,000 points outweighs the hefty annual fee, and you can always cancel after a year and stick to the more modest PRG card. Also in case they deny you for some reason on the Plat (don't think they would, but just saying), Amex is supposed to only make it a soft pull since you are already a cardholder with your PRG. They usually only hard pull existing members when you are accepted. I can't personally confirm this since both my Amex cards were thankfully accepted, but other members usually report this as the case.
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Ratfacedudeguy
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Postby Ratfacedudeguy » Fri Jul 13, 2012 11:27 pm

hematino wrote:I'd do exactly what he said. If you are planning to travel, 100,000 points outweighs the hefty annual fee, and you can always cancel after a year and stick to the more modest PRG card. Also in case they deny you for some reason on the Plat (don't think they would, but just saying), Amex is supposed to only make it a soft pull since you are already a cardholder with your PRG. They usually only hard pull existing members when you are accepted. I can't personally confirm this since both my Amex cards were thankfully accepted, but other members usually report this as the case.


I can confirm that existing Amex members only get hard pulls when approved. Even when I specifically asked them to re-pull my credit report to view updated information it still showed up as a soft pull when I was declined. I asked the guy a couple questions about the balances that were reporting too -- it was definitely a refreshed report.
Amex Green - NPSL - 05/12
Amex Zync - NPSL - 06/12
Discover it - $7750 - 11/12
Chase Sapphire Preferred Visa Signature - $5000 - 11/12
SECU Platinum Visa - $5000 - 08/08
Bank of America Cash Rewards Platinum Plus Visa - $3000 - 06/08
Citi Diamond Preferred Mastercard - $3000 - 05/12
GECRB Old Navy Visa - $2500 - 11/12
Chase Amazon Visa - $2000 - 11/12
Chase Freedom Visa - $2000 - 07/12
Citi Thank You Visa - $1000 - 06/12
Amex Blue Cash Everyday - $1000 - 01/13

adogg106
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Postby adogg106 » Mon Jul 16, 2012 3:02 am

So I called up AMEX to do this and they told me I can apply for a new card but I cannot apply for a new card with a welcome bonus since I already have one with my PRG. Kind of upset. Oh well.

BTW I have a totally unrelated question. Is it normal to have my CC embossed numbers and letters already start fading after having the card just 5 days? It's been in and out of my wallet and touched pretty frequently so far but I am really surprised some of the numbers and letters are starting to lose the black color. It's really noticeable on my name. One of the letters is completely faded already.



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