Considering applying for Platinum. A few questions...

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
11 posts
jcmm
Green Member
Green Member
 
Posts: 11
Joined: Wed Jan 22, 2014 10:25 am
Location: US

Considering applying for Platinum. A few questions...

Postby jcmm » Wed Jan 22, 2014 10:36 am

Hey guys,

I've been thinking about getting my first Amex recently, and have been eyeing the Platinum card due to the travel benefits and a few more features than the Gold offerings. Platinum does have the unattractive $450 AF, but I figured with doing $200 in either United or Delta gift cards since I travel them the most often out of the other carriers, that would take care of some of it. This would also be my first charge card instead of a credit card, but I 9 times out of 10 pay off all balances within the grace period anyway without accumulating interest charges. It's more of a gun shyness of just liking to have the convenience to carry a balance, but I suppose I can purpose the card just for purchases I know can be paid for immediately within the month, obviously.

One of the concerns that I had with reading about the shake up in some of the benefits was the airport lounge access. Since American Airlines and US Airways lounges are soon to be discontinued, I was curious about United since I fly them the most as of lately. Are their lounges included in the Priority Pass Select membership? If not, I wondered if flying with United with the Platinum card would allow me into a Delta lounge since they're on the list of airline lounges that are included.

Also, wondering if I should call instead of signing up online to see if they'll give me more than the current 25K points offer that is going on right now. I haven't gotten an invite in the mail to sign up with Amex (at least that I remember), nor do I see any inquiries when I've been logging into Equifax monitoring. Double checked on their "respond to mail offer" link and put in my information to do a lookup, and it returned that they hadn't sent me anything "but you might be interested in these cards" and displayed Gold, Platinum, and the Blue Preferred.

With a 738 score and the following accounts, I suppose I'm okay to apply:

BofA Cash Rewards [$6K limit]
Discover [$3K limit]
Capital One [never really use it, but $2,750]
Authorized user on an existing Amex Blue Cash Preferred [from my college days, parents account]

Length of Credit History: 10 Years, 10 Months [I was once an authorized user on a parent's Citi card that was opened in '03, closed 12/2013]
Average Account Age: 4 Years, 4 Months
1 inquiry in the past two years [opened a car loan this past summer, my first]

The hotel program incentives look pretty attractive, although I don't stay in hotels *often*, it's been part of the "convincing myself" process. The Starwood Preferred Guest status makes it somewhat worth my while as opposed to getting the Amex SPG card standalone.

From lurking around here the last few weeks, it seems like everyone has had stories about why they like Platinum better than the others in comparison it Gold and BCP, even though I know the revolvers have their own set of different benefits.

Anyone have any new stories starting out the year as to why you'd recommend Platinum at this point?


daniel2304
Centurion Member
Centurion Member
 
Posts: 198
Joined: Tue Dec 03, 2013 1:53 pm
Location: Dallas

Postby daniel2304 » Wed Jan 22, 2014 5:27 pm

I do not have a Platinum card but I would advise that whatever card that you apply, you should consider how its benefits can off-set its annual fee. From my perspective, your other cards have somewhat low-limit, subsequently I assume that your income is not very high. Why would you want to spend $450 alone a year for a credit card? And a 738 credit score is not good enough for the Platinum either, I believe. But I could be wrong.
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Wed Jan 22, 2014 5:32 pm

You can call and ask if they have any special offers for the Platinum. Worst they can say is no.


I think you should just look at what it offers and compare that to your planned usage and determine if it's worth the fee to you or not. I've never had Platinum and my usage at this time would not justify the cost so I can't personally comment on it.

User avatar
djrez4
Centurion Member
Centurion Member
 
Posts: 1468
Joined: Tue Jul 31, 2012 12:20 pm
Location: United States

Postby djrez4 » Wed Jan 22, 2014 5:40 pm

You're 95% likely to get it, if you want it. The question is, do you want it?

United lounges are not included. Access to Delta lounges requires a same-day ticket and you have to pay for any other guests.

FHR benefits are nice, but, for the most part, you're still paying for an expensive hotel room.

Remember that you get two years of $200 reimbursements if you time it right and cancel before the second fee hits. But, read up on gift certificate reimbursement. Amex is catching on.

Get the Platinum if you value the benefits enough to pay $450 a year. Don't get it just to have a shiny thing in your wallet.

If you travel often and mostly fly United, consider the United Club card from Chase. Lower fee, full United Club membership (including international Star Alliance lounge access), 1.5 miles per dollar, hotel perks through Luxury Hotels & Resorts (similar to Amex's program) and more. Might be a better fit for you.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

travisrauh
Centurion Member
Centurion Member
 
Posts: 167
Joined: Sat Aug 17, 2013 1:01 pm
Location: Fort Lauderdale, FL

Postby travisrauh » Wed Jan 22, 2014 5:56 pm

As far as Priority Pass goes, it depends on the individual lounges. Some US Airways/United Airlines lounges are on the list. It depends on the airport you plan on flying to/from.
I am an employee of American Express. All posts are those of my own and do not reflect the actions or opinions of AXP. While all efforts are made to ensure accuracy in my posts, for official statements or responses, please consult with @AskAmex on Twitter or dial the number on the back of your card.

woogs
Platinum Member
Platinum Member
 
Posts: 60
Joined: Wed Aug 29, 2012 11:19 am
Location: Pittsburgh, PA

Postby woogs » Wed Jan 22, 2014 7:25 pm

You can always sign up for the MB Platinum that comes with 50k MR points (costs $25 / year more). I am sure you can find someone to sell the $100 Mercedes accessories (shirts, hats, coffee mugs, golf stuff, etc.) for $25 if you really cared to make up the difference.


The Platinum is a terrible card to put spending on unless you really need the lost/broken/stolen and extended warranty benefits with higher limits than other Amex products. For every day spend there are much better options.

If you are able to use the $200 in airline incidentals for 2014 and then in January 2015 before it comes up for renewal it is a no brainer but I would hold off until you can get at least 50k MR points whether it is a new offer or the MB version. You may be able to find a 100k offer for the business version.
American Express: MB Platinum Card, Business Platinum, Business Gold, SPG, Hilton Surpass
Chase: Ink Plus, Ink Bold, Sapphire Preferred, United Mileage Plus, Marriott Premier
Citi: Executive AA World Elite MasterCard, AA Visa Signature, AA Business MasterCard
Barclays: US Airways World Elite, Arrival Card

samhradh
Centurion Member
Centurion Member
 
Posts: 388
Joined: Thu Nov 21, 2013 1:13 pm
Location: United States

Postby samhradh » Wed Jan 22, 2014 7:33 pm

My thought is - unless you KNOW a card with an AF of $450 is definitely right for you - then it probably isn't.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

jcmm
Green Member
Green Member
 
Posts: 11
Joined: Wed Jan 22, 2014 10:25 am
Location: US

Postby jcmm » Wed Jan 22, 2014 8:34 pm

daniel2304 wrote:I do not have a Platinum card but I would advise that whatever card that you apply, you should consider how its benefits can off-set its annual fee. From my perspective, your other cards have somewhat low-limit, subsequently I assume that your income is not very high. Why would you want to spend $450 alone a year for a credit card? And a 738 credit score is not good enough for the Platinum either, I believe. But I could be wrong.


An understandable assumption based on the limits, I suppose. My annual income is in high $60Ks, but it seems like my credit limits don't manage to increase, even though I have a clean report and I'd say a decent score for my age, at least (mid 20s). My Discover one started out as a student card with a $500 limit, then they pushed it to $1K, $1,500, and then $2,000. After that the increases stopped. In order for me to get another increase, I had to call, and they stated they don't do automatic increases..."you just have to call", which I though to be incorrect, but eh, whatever. The BofA card was at $4K and then they increased it to $6K. I just haven't really had a need for more credit than that, so maybe they haven't found a need to increase it.

jlam572
Centurion Member
Centurion Member
 
Posts: 494
Joined: Wed Aug 01, 2012 12:04 am
Location: Hawaii

Postby jlam572 » Wed Jan 22, 2014 9:21 pm

What I did was sign up for the MB platinum, get the points...and the free stuff at mb Honolulu. Waited a few months, and downgraded to regular platinum. Got the points and got my platinum.

As for the priority pass, some of the American and US airways are withdrawing from the priority pass and amex program starting in march. Not sure about all of them...but the ones here in Honolulu are withdrawing from both.

The chase card looks attractive...I might downgrade and cancel my amex platinum if they don't do something to offset the loss of my favorite lounge. I visited the admirals club about 56 times last year.
American Express Platinum
Chase Sapphire Preferred
Hawaiian Airlines BOH MC
USAA Amex
Capital One Visa Platinum
Citi Diamond Preferred MC

MrMosby
Centurion Member
Centurion Member
 
Posts: 211
Joined: Thu Mar 15, 2012 10:08 pm
Location: Ohio

Postby MrMosby » Thu Jan 23, 2014 5:18 pm

The Chase Ritz Carlton card is nice too, gets you status in Ritz/Marriott hotels instead of United which I personally use more. Plus a lot of the other features, its on par with Platinum (minus Delta lounges).
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K



Return to “American Express”

Who is online

Users browsing this forum: No registered users and 0 guests