Can one pay for annual fee with points for platinum?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
10 posts
m20e3087
Centurion Member
Centurion Member
 
Posts: 131
Joined: Sun Oct 30, 2011 6:06 pm
Location: NC

Can one pay for annual fee with points for platinum?

Postby m20e3087 » Fri Aug 10, 2012 8:38 am

Can one pay for annual fee with points? In this case for platinum?
American Express: Blue Cash Everyday & Platinum

Visa Signature: BankAmericard Travel Rewards, Chase Freedom Unlimited, & Chase Sapphire

Visa Infinite: Chase Sapphire Reserve


Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Fri Aug 10, 2012 11:38 am

as long as your aware of this accruing points are not the same as redeeming, so you would have to accrue a ton of points so you would have to spend a lot, a lot, a lot, of money on this card.

I tried the same thing on my green card last October, I spoke to a supervisor and she told me this, my annual fee is 95.00 yours is 450.00. so unless they give you a discount you would have to spend a real lot.

Moneytalks
Centurion Member
Centurion Member
 
Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Fri Aug 10, 2012 1:38 pm

Money card wrote:as long as your aware of this accruing points are not the same as redeeming, so you would have to accrue a ton of points so you would have to spend a lot, a lot, a lot, of money on this card.

I tried the same thing on my green card last October, I spoke to a supervisor and she told me this, my annual fee is 95.00 yours is 450.00. so unless they give you a discount you would have to spend a real lot.


No, you can't pay directly with points, but you could redeem gift cards :)
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Fri Aug 10, 2012 10:59 pm

what American express told me is you can pay your annual fee with points , but in October I didn't have enough.
if the platinum card is different then that's a different situation.

Moneytalks
Centurion Member
Centurion Member
 
Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Sat Aug 11, 2012 7:45 am

Money card wrote:what American express told me is you can pay your annual fee with points , but in October I didn't have enough.
if the platinum card is different then that's a different situation.


Really?? So what would be the conversion ratio: 1 point per 1 annual fee dollar??
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

SignHere
Gold Member
Gold Member
 
Posts: 46
Joined: Tue Aug 07, 2012 8:42 am
Location: PA, USA

Postby SignHere » Sat Aug 11, 2012 9:43 am

Paying for an AMEX giftcard with points is 200 points per dollar, so I would imagine it would be close to that for the annual fee. So I would assume a Platinum AF of $450 would be about 90,000 points.
Amex PR Gold - NPSL (Daily) [8/2012]
Amex Zync - NPSL (Ex-Daily) [10/2010]
Amex BCE - 19.2k [8/2012]
Chase Freedom Visa - 5k [8/2012]
PSECU Visa/PSL - 20k [9/2012]

Crashem
Centurion Member
Centurion Member
 
Posts: 538
Joined: Fri Mar 09, 2012 9:29 am
Location: San Francisco, CA

Postby Crashem » Sat Aug 11, 2012 10:53 am

Way better ways to use your points.
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

Money card
Centurion Member
Centurion Member
 
Posts: 1361
Joined: Tue Jun 28, 2011 10:13 pm
Location: New York state

Postby Money card » Sat Aug 11, 2012 9:11 pm

Moneytalks wrote:Really?? So what would be the conversion ratio: 1 point per 1 annual fee dollar??


what I'm trying to say is a supervisor from American express said I didn't have enough points in October.

now I would assume you would be allowed to pay your annual membership fee with your points this case being the platinum.

If the Platinum card has different rules saying you can't pay your 450.00 annual fee with points then that's a different situation from
my green.

Moneytalks
Centurion Member
Centurion Member
 
Posts: 438
Joined: Sat Feb 04, 2012 8:22 pm
Location: United States

Postby Moneytalks » Sun Aug 12, 2012 12:37 pm

Money card wrote:what I'm trying to say is a supervisor from American express said I didn't have enough points in October.

now I would assume you would be allowed to pay your annual membership fee with your points this case being the platinum.

If the Platinum card has different rules saying you can't pay your 450.00 annual fee with points then that's a different situation from
my green.


Ah, thanks for the clarification, though as Crashem said, there are definitely better ways to use 90,000 points!
Wallet: Amex BCE & Chase Freedom. (Credit Card dieting since 2014)

User avatar
Pete838
Centurion Member
Centurion Member
 
Posts: 197
Joined: Sun Dec 12, 2010 11:26 am
Location: Florida

Postby Pete838 » Sun Aug 12, 2012 4:30 pm

If I'm not mistaken, one point is worth 1 cent, and accrues at the rate of one point per dollar charged.

By that math you would need to spend $45,000 on the card to pay the fee for one year with points.
Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same.
Ronald Reagan



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 2 guests