American Express wants me to upgrade to Platinum :\

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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American
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American Express wants me to upgrade to Platinum :\

Postby American » Tue Nov 27, 2012 3:37 pm

I can't figure out what to do. I've had a PRG card for about a year, so I have a $175 fee coming my way, and they're offering me 25,000 MRP for one purchase on the new Platinum. So I look at and think it's going to cost me $25 more to do that (450-250-175 = 25) than to keep my Gold.

I love Amex; they've always been there for me. They automatically lowered my APR when I had to carry a balance. They gave me the money for a new computer when someone spilled water on my 3 months year old computer. I cash in on a lot of the social programs like on Small Business day my girlfriend and I were able to get $175 across 7 cards. Plus, I have a ton of rewards points. I fly Delta primarily, so they're my only avenue from a card aspect.

I'm probably going to be going to Europe, California, and a couple other places in the next year, and the Gold SPG would be nice. I also like the $200 on the airline. Platinums will have Chip + Sig, which is a major plus. 25,000 MRP will help with the travels. Yet I still can't pull the trigger.

Any thoughts?
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k


Robrus1
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Postby Robrus1 » Tue Nov 27, 2012 3:46 pm

There are a lot of travel perks in addition to platinum, especially when it comes to international travel. No foreign transaction fees, whereas the PRG does have foreign transaction fees, free airport lounge access (to some of them) baggage/meal credits etc. If you can utilize some of the perks every year to make the annual fee worth it, I'd do it.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

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Snowman
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Postby Snowman » Tue Nov 27, 2012 5:02 pm

Seeing as I just got approved for the Gold Card, I would do it If I were in your situation. I'd rather not pay the Platinum's annual fee, but it is worth it if you have a lot of trips upcoming as well as if you travel a lot. I think you should pull the trigger, if you think you are going to be able to utilize the benefits. If you don't think you will be able to utilize the benefits of the platinum card, I would keep the PRG.
Cards And Credit History
Bank Of America: BankAmeriCard Cash Rewards-4/25/12-1,000$ (CLI Increase on 6/15/13)
Citi: Forward-10/27/12-3,000$ (SP CLI 2/8/14)
Discover: More. 10/27/12-2,000 (Auto CLI 5/31/14)
Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
Future Cards
Marriott Premier Rewards
American Airlines AAdvantage Gold
Chase Sapphire Preferred
Fidelity Amex


FutureBillionaire
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Postby FutureBillionaire » Tue Nov 27, 2012 6:15 pm

How much net earnings will you make?
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

American
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Location: Atlanta, GA

Postby American » Tue Nov 27, 2012 7:40 pm

FutureBillionaire wrote:How much net earnings will you make?


What do you mean?
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k

American
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Postby American » Tue Nov 27, 2012 8:12 pm

I recently read about the $200 Airline credit being able to work on $50 gift cards, and if I get the platinum by the end of year 2012 I'll be able to get $400 worth of free Delta gift cards, which would honestly help with that $450 annual fee.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k

Bksuper
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Postby Bksuper » Wed Nov 28, 2012 5:22 am

But those gift cards are only for travel. It seems the Platinum card is of great value if your travel (esp. if you go business or first with a companion; get a free bus/first ticket), but a waste of money otherwise. Of course all of their charge cards are overpriced in my opinion; Visa Signature provides many of the non-travel bennies and services free, are accepted more places, and the top cards offer equivalent or superior rewards programs for no or lower annual fees. To me, if you don't travel alot, Amex in general seems good mostly for the backdating and niche places like costco, which is the only reason I want one. But if you travel a lot (enough to get far more than $450 in value out of the Platinum bennies) and like to/can afford to travel in the higher classes, then I would go for it.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012


American
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Postby American » Wed Nov 28, 2012 10:11 am

In my experience, Visa Signature & Mastercard World are very different in their services they offer from Amex. Sure, on paper purchase protection looks the same, but Amex will cut you a check in two weeks with a receipt fax, no questions asked. Visa & Mastercard aren't so quick or trustworthy. They also don't have nearly the customer service that I've experienced on Amex or even Discover because it's all up to the bank. As much as I love Chase for points, they are awful when it comes to helping me. Citi is bare bones.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k

Maximilian
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Postby Maximilian » Thu Nov 29, 2012 4:01 pm

American wrote:I can't figure out what to do. I've had a PRG card for about a year, so I have a $175 fee coming my way, and they're offering me 25,000 MRP for one purchase on the new Platinum. So I look at and think it's going to cost me $25 more to do that (450-250-175 = 25) than to keep my Gold.

I love Amex; they've always been there for me. They automatically lowered my APR when I had to carry a balance. They gave me the money for a new computer when someone spilled water on my 3 months year old computer. I cash in on a lot of the social programs like on Small Business day my girlfriend and I were able to get $175 across 7 cards. Plus, I have a ton of rewards points. I fly Delta primarily, so they're my only avenue from a card aspect.

I'm probably going to be going to Europe, California, and a couple other places in the next year, and the Gold SPG would be nice. I also like the $200 on the airline. Platinums will have Chip + Sig, which is a major plus. 25,000 MRP will help with the travels. Yet I still can't pull the trigger.

Any thoughts?


Out of curiosity, did they call you or send you an offer in your mail? Also is it your first year as a member with Amex?

DoingHomework
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Postby DoingHomework » Sat Dec 01, 2012 8:21 am

Bksuper wrote:But those gift cards are only for travel. It seems the Platinum card is of great value if your travel (esp. if you go business or first with a companion; get a free bus/first ticket), but a waste of money otherwise. Of course all of their charge cards are overpriced in my opinion; Visa Signature provides many of the non-travel bennies and services free, are accepted more places, and the top cards offer equivalent or superior rewards programs for no or lower annual fees. To me, if you don't travel alot, Amex in general seems good mostly for the backdating and niche places like costco, which is the only reason I want one. But if you travel a lot (enough to get far more than $450 in value out of the Platinum bennies) and like to/can afford to travel in the higher classes, then I would go for it.


Not true at all! I agree that you'll reap the most benefits from platinum if you travel a lot. But the benefits go way beyond that. I also have a premium Visa signature and while they try, the benefits to that are nowhere near as good as they are for AMEX platinum. Most years I am able to get more in cash benefits than the annual fee. That makes most of the extra little perks free.

It took me a while to pull the trigger on the expense of the high annual fee. But I am very glad I did. Although if you don't take at least 2-3 cross country or international airline trips per year then you might not see the same benefits. If you always stay in the cheapest hotels and look for low price on everything rather than service and quality you might also not get the same benefit.



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