Trying to understand Amex Platinum
#1
Original Poster
Join Date: Aug 2005
Programs: LH, SPG
Posts: 296
Trying to understand Amex Platinum
Hi,
I'm trying to understand why people use a Platinum Amex as their main form of payment. I have the card for AA lounge access, rental cars, etc, but I can't justify using it as my main card. In contrast with the Schwab Visa that returns 2% on everything, the 1 MR point per dollar is just plain ridiculous, unless you find a redemption option that provides great value. If I flew to London a lot, I'd certainly appreciate the ability to get a Virgin Atlantic upper class ticket for 90,000 MR points - but I don't go to London that much, and when I do, it's on business anyway.
I have a number of cards, each for a particular purpose. SPG Amex for *wood hotels, Amazon Visa for amazon.com, the aforementioned Platinum Amex for when it comes in handy, etc. I however get the sense that cards like the Schwab Visa are much better "everything else" cards than the Amex Platinum would ever be. Can anyone show me otherwise?
I'm trying to understand why people use a Platinum Amex as their main form of payment. I have the card for AA lounge access, rental cars, etc, but I can't justify using it as my main card. In contrast with the Schwab Visa that returns 2% on everything, the 1 MR point per dollar is just plain ridiculous, unless you find a redemption option that provides great value. If I flew to London a lot, I'd certainly appreciate the ability to get a Virgin Atlantic upper class ticket for 90,000 MR points - but I don't go to London that much, and when I do, it's on business anyway.
I have a number of cards, each for a particular purpose. SPG Amex for *wood hotels, Amazon Visa for amazon.com, the aforementioned Platinum Amex for when it comes in handy, etc. I however get the sense that cards like the Schwab Visa are much better "everything else" cards than the Amex Platinum would ever be. Can anyone show me otherwise?
#2
Join Date: Nov 2007
Location: Hoboken, NJ
Programs: Amex Plat, SPG Gold, Hyatt Plat, HH Gold
Posts: 495
#5
Join Date: Jun 2007
Location: NYC
Programs: DL Plat, SPG Gold, Marriott Gold, Hilton Gold
Posts: 229
Sometimes my Plat is eligible for special promos like Double MR for gas and groceries, so then I switch spending there.
Before NYS was taken so rudely exempted from the Event Ticket Protection benefit, I would buy all my concert/theater tickets with the Plat since "lost" tickets were reimbursed.
For shopping purchases, especially for final sale items, I like to use Amex for the purchase protection. The Platinum card also covers "loss" for purchase protection. I once left a new purchase at a Rome hotel that could not be recovered and there was zero hassle in getting the original charge erased.
For other sundry purchases, as you said, it is often better to use a different card.
Before NYS was taken so rudely exempted from the Event Ticket Protection benefit, I would buy all my concert/theater tickets with the Plat since "lost" tickets were reimbursed.
For shopping purchases, especially for final sale items, I like to use Amex for the purchase protection. The Platinum card also covers "loss" for purchase protection. I once left a new purchase at a Rome hotel that could not be recovered and there was zero hassle in getting the original charge erased.
For other sundry purchases, as you said, it is often better to use a different card.
#6
Join Date: Jan 2002
Location: BDA
Posts: 155
Well, using your example, perhaps you would like to bring a guest with you the next time you go to London on Virgin in Upper Class? Using the 90,000 points would save you around $6k. $6k/90,000 = minimum .0666 per dollar spent.
All double points... then the return would be .13 per dollar spent.
My choice would be the Amex, but I like to bring my family with me on business trips to London.
All double points... then the return would be .13 per dollar spent.
My choice would be the Amex, but I like to bring my family with me on business trips to London.
#7
Join Date: Apr 2010
Location: Boston
Programs: SPG Plat; HH Gold; AA Gold; CO Gold
Posts: 17
I use the Amex Bus Plat for office, airline clubs, etc. Don't charge much on it. I have an Amex Premier Gold that I charge all airline tickets (3X MR points) plus other stuff to get to $30K+ (15K MR bonus). I also have an Amex HH Surpass that is used to get HH Gold/Diamond status and then Schwab Visa is used when Amex is not accepted.
To illustrate the benefit - Amex Gold $30K charges yield 75K MR points ($10K airfare = 40K MR points; 20K = 20K points; plus 15K bonus). I get approx. 2c value from MR points so this is about $1500 or 5% on the $30K spend.
Similarly, the Surpass also yields about 5% benefit.
To illustrate the benefit - Amex Gold $30K charges yield 75K MR points ($10K airfare = 40K MR points; 20K = 20K points; plus 15K bonus). I get approx. 2c value from MR points so this is about $1500 or 5% on the $30K spend.
Similarly, the Surpass also yields about 5% benefit.
#8
Moderator: Luxury Hotels and FlyerTalk Evangelist
Join Date: Sep 2002
Location: Palo Alto, California,USA
Posts: 17,843
I find that the Fine Hotels and Restaurants program justifies the card for me. Also the points are of huge value for certain types of speciality airline tickets, as noted above. The one I've gotten more than 10 cents/point value on was Japan to/from Asia on ANA.
#9
FlyerTalk Evangelist
Join Date: Sep 2005
Location: MN
Programs: Lots of programs, dirt on all of them!
Posts: 11,938
Say I charge $100K to my AmEx platinum. I get a 25% transfer bonus to DL. So I get a total of 125K DL miles.
buy $125 one way ticket MSP-EWR
EWR-ANC-MSP-EWR in coach for 25K
ANC-MSP-MUC-MSP-ANC in F/J for 100K
So I get two trips to Alaska (one in F), one trip to NYC (and another one way ticket there), and one trip to MUC in J, all for $100K in spend. You would have gotten $2,000 in cash for your $100K in spend. I think I got WAY more than $2K in value.
buy $125 one way ticket MSP-EWR
EWR-ANC-MSP-EWR in coach for 25K
ANC-MSP-MUC-MSP-ANC in F/J for 100K
So I get two trips to Alaska (one in F), one trip to NYC (and another one way ticket there), and one trip to MUC in J, all for $100K in spend. You would have gotten $2,000 in cash for your $100K in spend. I think I got WAY more than $2K in value.
#11
Original Poster
Join Date: Aug 2005
Programs: LH, SPG
Posts: 296
Thanks for all the replies. It seems that other than certain airline transfers (Virgin, maybe Delta, etc) there's not much value to MR points accumulated from general use. The value tends to vary greatly from airline to airline. I get that you can earn 2x points from the Amex Travel site, but I wouldn't qualify that as general use. In fact it seems that you're better off charging airfare to another Amex product (Gold Rewards) because you get 3xMR points that way.
In any case, I've had the card for a couple of years, and I get that for most people - including myself - it makes perfect sense to use it for specific things (FHR, purchase protection & other implicit insurance options). I was just wondering if there's a reason for using it as your go-to card unless you happen to, say, take your family of 4 once a year to London or Alaska.
I also make more FF miles than I can easily spend, so I'd rather take the $4000 or so per year in cash from Schwab.
To each his own, I guess.
In any case, I've had the card for a couple of years, and I get that for most people - including myself - it makes perfect sense to use it for specific things (FHR, purchase protection & other implicit insurance options). I was just wondering if there's a reason for using it as your go-to card unless you happen to, say, take your family of 4 once a year to London or Alaska.
I also make more FF miles than I can easily spend, so I'd rather take the $4000 or so per year in cash from Schwab.
To each his own, I guess.
#12
Join Date: Jan 2010
Location: Worldwide
Programs: Amex Plat, BMI Silver
Posts: 401
For frequent travelers who use them for airline tickets and hotel stays, it has it's advantages, you end up with more than .01 per MR, you save $$$, which is more than the 2% from Schwab or Fido. Perks due have value plus you still get you 1% return thru points. Even for annual vacations.
#13
Join Date: Apr 2008
Programs: amex platinum, american advantage, united, ANA, JAP. SPG, marriott
Posts: 1,257
Also if you cruise at all you get a $300 onboard credit each time on certain lines. I do so two or three times a year so I get double the value of the cost just with that.
#14
Join Date: Jun 2004
Location: LA area
Programs: SPG Plat, Priority Pass
Posts: 319
In fact it seems that you're better off charging airfare to another Amex product (Gold Rewards) because you get 3xMR points that way.
In any case, I've had the card for a couple of years, and I get that for most people - including myself - it makes perfect sense to use it for specific things (FHR, purchase protection & other implicit insurance options). I was just wondering if there's a reason for using it as your go-to card
In any case, I've had the card for a couple of years, and I get that for most people - including myself - it makes perfect sense to use it for specific things (FHR, purchase protection & other implicit insurance options). I was just wondering if there's a reason for using it as your go-to card
I have a Premier Rewards Gold AMEX for earning MR points. 3x for buying air tickets, and 2x for gas and groceries. Access to the same accelerated earning from the MR Online Mall, and MR travel desk.
The SPG Amex essentially earns 1.25 frequent flyer miles/$1 to almost as many airlines as MR.
Owning the card for the benefits makes more sense.
I understand some exclusive benefits like the Plat concierge, and hotel amenities,
However
Purchase protection, not including loss, is available with most AMEX cards.
And I prefer my unlimited Priority Pass from my Ameriprise WE MC, over US carrier club lounges, that almost all pale in comparison to non-US airline lounges, or even US based private run lounges. Plus I still get access to many UA RCC, and CO PC throughout the US.
But overall, USING the Plat AMEX for everyday regular use doesn't make much sense to me either.
#15
Join Date: Jan 2001
Posts: 1,877
The PLAT or CENT cards, like an auto lease, are not for everyone and depend on individual usage and needs.
The Mrs. and I use our personal PLAT card for all purchases, business and personal. We travel for work during the year and make use of the lounge access and other travel benefits. We are able to write-off a % of the yearly fee based on the % of business charges. We've also flown to Europe twice in FC for free, the first time on AF and the second time on DL. Go price out two FC (La Première) tickets on AF from the East coast to Italy. Ouch. The PLAT card has paid for itself several times over in our case.
All these things said, I've had to "work for it", so to speak. You can't sign-up for the card and expect magic. You have to read FT and other web sites and educate yourself.
The Mrs. and I use our personal PLAT card for all purchases, business and personal. We travel for work during the year and make use of the lounge access and other travel benefits. We are able to write-off a % of the yearly fee based on the % of business charges. We've also flown to Europe twice in FC for free, the first time on AF and the second time on DL. Go price out two FC (La Première) tickets on AF from the East coast to Italy. Ouch. The PLAT card has paid for itself several times over in our case.
All these things said, I've had to "work for it", so to speak. You can't sign-up for the card and expect magic. You have to read FT and other web sites and educate yourself.