About to apply for AMEX Platinum. Any final tips?

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VisaSpeak
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About to apply for AMEX Platinum. Any final tips?

Postby VisaSpeak » Wed May 21, 2014 8:51 pm

Currently have AMEX PRG which I got June '13. Going to apply for Platinum before I have to pay yearly fee on the Gold.

Do you think I will have any trouble getting the Plat? I checked Creditkarma and it pegs my score at 740 range,

I've put about $20,000 on the PRG card in its lifetime.. probably small by AMEX Standards.


AlwaysLearning
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Postby AlwaysLearning » Thu May 22, 2014 1:36 pm

Others are going to question whether you "need" the platinum given how much you've spent. What matters if you feel it's worth the annual fee and if you can use the associated benefits of the card.
Just going on one vacation using the perks with the FHR can be worth two plus years worth of the annual fee.
Just be responsible and enjoy!

benhollberg
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Postby benhollberg » Thu May 22, 2014 7:58 pm

If I were you I would consider waiting a month or two and upgrading the PRG to the Platinum, unless you need the Platinum card right away. After 13 months you can upgrade your card without taking a pull on your credit report, it'll give you the Platinum and the PRG will go away but it'll keep your AAoA up as well. I did this last year, even if you pay the PRG annual fee they will prorate the annual fee for the Platinum so you won't pay the full fee (they did this for me at least).

It totally up to you, I find I can use the Platinum benefits enough for me and would recommend the card for sure.
American Express Platinum Card
American Express TrueEarnings Card from Costco
Marriott Rewards Premier Visa Signature Card
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VisaSpeak
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Postby VisaSpeak » Thu May 22, 2014 8:18 pm

I'm doing it for the 40,000 points.

Amex wont give me a decent offer to upgrade, so I will just cancel the AMEX PRG after getting the Plat.

astronautcowboy
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Postby astronautcowboy » Thu May 22, 2014 9:14 pm

I think the airline credit and perhaps some other benefits are calendar year-based. Might be worth exploring that before you decide on timing.

VisaSpeak
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Postby VisaSpeak » Fri May 23, 2014 6:24 am

I'm not interested in travel

MemberSince99
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Postby MemberSince99 » Fri May 23, 2014 6:40 am

Did I read that right? You aren't interested in travel but you want to apply for a card that has a 450 annual fee whose only real perks are travel related?

Robrus1
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Postby Robrus1 » Fri May 23, 2014 7:21 am

VisaSpeak wrote:I'm not interested in travel


So then please explain why in the world you want the Platinum Card? It's a travel card. If you aren't interested in travel just keep your PRG. That's like applying for BCP and saying you aren't interested in cash back....
Amex Platinum
Amex BCP 21K
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Barclaycard Arrival Plus WEMC 5K
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Credit Union 10K
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VisaSpeak
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Postby VisaSpeak » Fri May 23, 2014 9:19 am

Robrus1 wrote:So then please explain why in the world you want the Platinum Card? It's a travel card. If you aren't interested in travel just keep your PRG. That's like applying for BCP and saying you aren't interested in cash back....


Because I have to pay $175 for the PRG every year, the Plat is just an incremental increase of $275 a year, so to me, thats the yearly fee, not $450.

I get 40,000 points - which I can sell for around $500. So I basically get the plat card free for 2 years, and it looks much cooler than the GOLD.

I guess you can say I want it for the status

MemberSince99
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Postby MemberSince99 » Fri May 23, 2014 9:49 am

Ok, to some degree I can understand that. I might logically tell you it doesn't compute but it's really not about logic. We all pony up for what's important to us. I was just curious as to your reasoning.



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