AMEX Platinum - 100K pts after 3k purchase

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golf.ninja
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AMEX Platinum - 100K pts after 3k purchase

Postby golf.ninja » Thu Apr 09, 2015 7:03 am

I see that the normal deal is 40K pts. The wife just received an offer for 100K pts after 3K in purchase. At $450, this seems like a no brainer as you're essentially netting $550 in pts.

HOWEVER, this isnt' a card we would be able to justify normally as we simply don't travel enough (and Int'l travel is where it seems this card come in really handy).

Are the pts easily used at 1pt=.01 ratio? Even for gift cards? I have no problem just redeeming it for an Amazon gift card and call it a day.

-Thoughts?


wiivile
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Postby wiivile » Thu Apr 09, 2015 7:15 am

You could just do statement credits (since you have to spend $3000 anyway), but I don't like damaging my Average Age of Accounts (AAoA) for sign up bonuses :( Though I think that is an irrational fear of mine. But if I started opening credit card for their sign up bonuses, where would I stop?
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takeshi
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Postby takeshi » Thu Apr 09, 2015 8:09 am

golf.ninja wrote:I see that the normal deal is 40K pts

40K is the standard current offer on the regular Platinum. Just to clarify the Mercedes Benz and Morgan Stanley Platinums currently have standard offers of 50K. MB has a higher spend requirement than the MS. MS has restricted eligibility but anyone can apply for the MB. There's also an Ameriprise Platinum but it doesn't have any such bonus and instead offers the first year free.

We recently signed up or the MS Platinum to try it out. We don't expect that it will work in the long run but we'll see. Had we run across a 100K offer might have gone for that but the MS Platinum includes the first Platinum AU for free.

golf.ninja wrote:Are the pts easily used at 1pt=.01 ratio?

How are you determining the net without knowing the answer to that question?

Transfers are generally where the best value is at but you can refer to:
https://rewards.americanexpress.com/myca/loyalty/us/catalog/mrhome.do

Hit the More Information link and the site will present you with example options for redeeming 10K points after you specify the card type.

You can look through the gift card options here as well:
https://rewards.americanexpress.com/myca/loyalty/us/catalog/giftcardhub

Also look into maximizing the benefit of the airline fee credit ($200). If you look around there are threads (not necessarily just on this site) about making the most of the Platinum. The rule of thumb is that if you don't travel enough to leverage the travel benefits of the Platinum then it's probably not a good fit. No card is ever a "no brainer". One must always consider how any card suits the individual.

wiivile wrote:You could just do statement credits (since you have to spend $3000 anyway), but I don't like damaging my Average Age of Accounts (AAoA) for sign up bonuses :( Though I think that is an irrational fear of mine. But if I started opening credit card for their sign up bonuses, where would I stop?

Nothing irrational about it. AAoA is a known factor though it's relatively small.

Those who churn typically have strong enough profiles where their AAoA isn't drastically impacted.

amex007
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Postby amex007 » Thu Apr 09, 2015 9:20 am

That's a great sign-up bonus but personally i cant see myself signing up for a card w/o the intention of keeping it longer than a yr. As for the value of 1 MR pt, it is mainly in the transfers otherwise its worth half a cent for gift cards. But if you're doing store gift cards, then 1 MR pt would be equal to $0.01
Barclay and CapitalOne give you statement credits while UR pts are the ones with a value of 1 pt = $0.01
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rockyrock
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Postby rockyrock » Thu Apr 09, 2015 10:54 am

With 100k MR points, Global Entry, Airline credit you can easily offset the AF and come out way ahead if you use the points wisely. 100k points can easily get you a few RT tickets or several nights at a hotel.
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golf.ninja
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Postby golf.ninja » Thu Apr 09, 2015 2:52 pm

Thanks for the responses. Too bad I just signed up for Global Entry (more for the TSA pre-check inclusion). But since we are contemplating a nice trip to Asia, perhaps I can get my wife into the program as well through this.

takeshi wrote:
How are you determining the net without knowing the answer to that question?


Good question. And it was really just an estimation on my part (from the "up to $1000" from the letter). And thanks for the links Takeshi, I guess I should've searched that myself ;) .

Now - any feedback on the card itself? Did some preliminary research and was quite surprised at the amount of dissatisfied folks (mostly from long term card holders that felt the service/benefits have declined in the recent years). But, it is the 'Interweb'....

rockyrock
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Postby rockyrock » Thu Apr 09, 2015 6:48 pm

golf.ninja wrote: Now - any feedback on the card itself? Did some preliminary research and was quite surprised at the amount of dissatisfied folks (mostly from long term card holders that felt the service/benefits have declined in the recent years). But, it is the 'Interweb'....


I would worry less about how the card works for other people and really sit down and look to see if the benefits it offers are good for what you are looking for. Worth is about as subjective as you can get... All that said, my opinion is that the Platinum card hit rock bottom a while ago and is on its way back up. The playing field has changed and the benefits will never be what they once were but that isn't to say they won't be good.

I had the Platinum card for eight or nine years and for the first several I didn't think twice about renewing it each year. The last two or three it got harder to justify both because my patterns were changing and the benefits offered were changing. Finally last year I PC'd to a PRG and am quite happy with it.

Of course, YMMV.
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
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