The continental presidential plus card earns 1k flex EQMs for every $5k spent. There does not appear to a cap on the number of flex EQMs you can earn per calendar year, but I think you can only convert flex EQMs into status earning EQMs to earn up to platinum status (75k). essentially, with this card you would technically be able to spend your way into platinum status, and then fly just 25k miles to attain 1k status. "technically", because you would have to charge $375k on the card. More importantly for mere mortals, who won't be able to out that amount on the card, you do earn the EQMs incrementally, so even if you "only" put $30k on the card annually, it places 6k flex EQMs in your account, compared to 0 with the visa signature card that was discontinue. I spoke to mileage plus support, chase cc support, and they all confirmed this. However, I'd interested to hear if anyone has any corrections on this, as the reps had to look up details, and seemed a little uncertain initially.