Originally Posted by joe_miami

Another thing that is undoubtedly driving at least a temporary spike in Plat cardholders is the credit-card “churning” craze. Aside from the Ameriprise loophole mentioned earlier, Amex, incredibly, is still allowing people to sign up for the “regular” Platinum for a bonus of up to 100,000 points, then cancel that one after a year and apply for a Schwab Platinum, with another bonus, and then a Business Platinum, etc. It can take four or five years for a person to cycle through the various Plat cards.