Thinking about applying for the Platinum in a year.

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Gb24
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Thinking about applying for the Platinum in a year.

Postby Gb24 » Tue Feb 25, 2014 1:31 pm

Plz guys let me know if you think this is a good idea

-Had the green card for 3 months
-Spent and paid off almost 10k in the short time
-Credit score of 640
-23 yrs old
-College student
-Makes 45k a year
-Car note


Mind you. I plan to do this in a year


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JMR
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Postby JMR » Tue Feb 25, 2014 2:07 pm

Do you have any other credit cards (not Amex Charge Cards)? If so do you use them and pay on time. You haven't had your green card for very long. Maybe in a year if you credit score is above 700 you can ask for a PC from AMEX and hope for the best. But, will the AF be worth it for you, do you travel a lot, or will you use the benefits so you can justify the $450 AF.
Citi AAdvantage Platinum Select- $5000 (3/15)
American Express Gold- NPSL (3/15)
Chase Freedom- $1200 (3/15)
Nordstrom- $1500 (9/14)
Discover IT- $1000 (2/14)

TCL: $8700

FICO (TU)- 716 (3/15)

Gb24
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Postby Gb24 » Tue Feb 25, 2014 2:28 pm

I do have other credit cards, w/ little to no balance on them. I usually pay them in full every month or make a payment well over the minimum. I travel a little bit, but plan to travel much more frequently come graduation time.

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djrez4
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Postby djrez4 » Tue Feb 25, 2014 2:31 pm

JMR wrote:Maybe in a year if you credit score is above 700 you can ask for a PC from AMEX and hope for the best.


You can PC to a Platinum after 13 months without a credit pull. If you can get the Green, you can probably get the Platinum, however...

JMR wrote:But, will the AF be worth it for you, do you travel a lot, or will you use the benefits so you can justify the $450 AF.


This is the important part. Know why you're paying $450 a year.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

FutureBillionaire
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Postby FutureBillionaire » Tue Feb 25, 2014 2:38 pm

djrez4 wrote:You can PC to a Platinum after 13 months without a credit pull. If you can get the Green, you can probably get the Platinum, however...



This is the important part. Know why you're paying $450 a year.


I have been saying to anyone who will listen that Amex charge cards are a ripoff.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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JMR
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Postby JMR » Tue Feb 25, 2014 3:24 pm

FutureBillionaire wrote:I have been saying to anyone who will listen that Amex charge cards are a ripoff.


Why do you say they are a rip off?
Citi AAdvantage Platinum Select- $5000 (3/15)
American Express Gold- NPSL (3/15)
Chase Freedom- $1200 (3/15)
Nordstrom- $1500 (9/14)
Discover IT- $1000 (2/14)

TCL: $8700

FICO (TU)- 716 (3/15)

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djrez4
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Postby djrez4 » Tue Feb 25, 2014 4:38 pm

FutureBillionaire wrote:I have been saying to anyone who will listen that Amex charge cards are a ripoff.


Depends -

I've paid them $650 in annual fees for my card and one AU for my wife. In return, I've received:
  • $400 in airline credits
  • $200 in reimbursements for Global Entry
  • 50,000 MR points
  • a $100 certificate for Mercedes merchandise
  • concierge service, which I have used
  • lounge access, also utilized
  • SPG Gold (which I used to get a status challenge through Marriott that gave us executive lounge access and a suite upgrade)
  • Hertz upgrades

I'd say it was worth it for me. If you don't take advantage of all of that, it's not going to be worth it for you.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]

[/RIGHT]

lexrj
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Postby lexrj » Tue Feb 25, 2014 6:10 pm

FutureBillionaire wrote:I have been saying to anyone who will listen that Amex charge cards are a ripoff.


+1
Couldn't agree more!
---------------------------------------
Current in my Wallet
Amex BCP - 25K (02/12)
Barclaycard Arrival WMC - 15K (10/13)

Future
US Bank Cash +

Socks drawer
Crap One Quicksilver - 1.7K (04/11)
CSP - 15K (03/13)

Scores
FICO EX 772 / TU 765 / EQ 762 - (09/14)
AAoA 2.1

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JMR
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Postby JMR » Tue Feb 25, 2014 6:30 pm

lexrj wrote:+1
Couldn't agree more!


Why do both of you guys think this?
Citi AAdvantage Platinum Select- $5000 (3/15)
American Express Gold- NPSL (3/15)
Chase Freedom- $1200 (3/15)
Nordstrom- $1500 (9/14)
Discover IT- $1000 (2/14)

TCL: $8700

FICO (TU)- 716 (3/15)

MemberSince99
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Postby MemberSince99 » Tue Feb 25, 2014 6:58 pm

They have annual fees, yet the offshored (not US who are good) customer service is not much above Cap One. The rewards are mediocre compared to most other prime cards as well.


The perks are where they shine, but that requires that they be perks you can use.


I still like them for the backdating, and the fact they are in your corner in disputes, but a lot of the luster the brand once had is gone.



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