Today I received an offer for 175k Amex points if I got an Amex Platinum card. Currently an Amex Gold Member.
Looking at the offer seriously.
What are people's opinions on it?
I'm thinking it will be $550 more a year than I am currently paying. For that I will get $300 more in Resy credits that I will definitely use. Also, the $300 Digital Entertainment credit. So should be net neutral.
Only downside is that the points are not as high. Will not be doing much traveling, and the 1x points on all other spend so pretty low. Thinking of combining it with my CSP and CFU cards.
Anyone else done this combo?
175k Platinum Amex Offer question
byu/xennial-tiger inCreditCards
Posted by xennial-tiger
2 Comments
It will be $895 more than you’re currently spending, unless you’re planning to cancel your gold card.
My suggestion is – don’t think about or try to predict what credits you would use, people tend to dupe themselves this way. Look at what you *already have* spent which you cannot trick yourself with.
Go through your last year of spending and calculate how many credits you’d redeem with the platinum. Don’t include spending you “would have” done – you’re just duping yourself into spending more. Only include spending you actually performed. Makes sure to account for the way the credits are distributed – $500 at a fancy restaurant only nets you $100 in Resy credits, not $400.
Once you have this number, compare to $895. If it’s greater, obviously the card is a no-brainer. If it’s less (much more likely), think about the difference and if the other perks such as lounge access are worth that much $ to you.
>I’m thinking it will be $550 more a year than I am currently paying. For that I will get $300 more in Resy credits that I will definitely use. Also, the $300 Digital Entertainment credit. So should be net neutral.
Do you assign any value to the Airline or FHR hotel credits? It doesn’t sound like you do much traveling, so maybe not.
Generally speaking, the Platinum is better as a perks/benefits card than as a card to put heavy spend on.