Originally Posted by
Kingboomer
I disagree with you completely. Amex @70k gives u 100k MR points. Now if u can get someone to refer you for the plat charge, u get another 10k extra points plus they get 25k MR points. So @110k points - convert this into Marriott at 1:1, book 2 nights at a category 8 property (think AL MAHA Dubai that retails @ $1500/night). So u are paying around $1k and getting $3k worth.
Obviously your goal behind getting any card should be towards a particular objective. Plus, the plat charge has a 15x offer on all international/domestic hotel bookings- it effectively gives back 37.5% of your booking cost back through points - with no limits (unlike the legendary smartbuy offer)
So it all depends. if you have a lot of international travel, the amex plat would be the best card followed by prestige
You're talking about a very very very specific sweet spot redemption. As soon as you step outside the 5-10 super super premium hotels the whole equation falls flat. Now you may have wanted to and then done this and so it has worked out for you. But that's not for everybody.
Here's how I see it: 100k MR points = 50k airline miles. I conservatively value airline miles at Re.1. So they're charging me 70K and giving me 50k in return (there are some more benefits but this is the main one). And yes I may get Rs. 2/mile during redemption but that's not how I'd do the valuation. There's worse value for taking 40k Taj Vouchers for 70k upfront fees.
Secondly the earning rate... 1.25% domestic and 3.75 international at the same valuation is terrible. More so for such a premium card.
Thirdly the 15X MR on hotel bookings is a time limited promotion not a feature on the card. And Amex has been doing plenty of promotions in the last 2-3 months (which is good). Including accelerators for paying school fees and insurance and what not. But these are promotions. So if you have hotels to book during this limited period you get benefits. If you don't you're back at getting the measly 1.25% rewards on hotel bookings.
Fourth The card costs $1000!!! That's an insane amount of fees for very limited value. Which other country does Amex charge such insane fees and then give you so little!
Citi Prestige on the other hand: 20k fees = 10k miles + 10k Taj. So you've made your money back. 4% rewards in India & 8% international. No other accelerators though.
Bottom line... would I pay 3.5x Citi fees in the hopes that some promotions come up along the way. No I wouldn't.