PETERPNYC

If I were to cancel my Personal Platinum now after 20 years and in the last 2 months adding the Gold PRG and the Gold BIZ card and getting the 75K and 100K bonus with a significant calling in SMing etc and waiting 2 months .
Do you think I could apply and get the 50K bonus next month?

I also have a credit balance small ($150) on my Plat would that complicate matters ?

If so is there any way to cancel a Plat card online without calling in and answering questions etc. and should I ask for a partial refund of the $450 fee I paid ?

Can I cancel the Benz card after getting the bonus as I dont think its worth it paying anual fees on 3 Amex cards

I also have 280K MR points in my 3 accounts , is there any risk of clawback etc ?

Thx

APeverell

I canceled my regular Plat in the last week of Sep, and waited until Oct 1st to apply for the Benz Plat, to be safe.

I sent a secure message to cancel the card, and then see they credited the remaining of the prorated annual fee to my canceled Plat account. You can ask the credit to be moved to your other charge cards, as long as it does not have a credit balance.

PETERPNYC

I sent an SM To either honor a promo for 20k miles or cancel my card immediately.that was 7 hours ago and no reply yet .

If I don't get an answer I will call and cancel card in next 3 hours .

drsaith

signing up for this now for the travels benefits, then hopefully cancelling sometime next year when a 100k normal plat offer is open to the public. thanks.

drsaith

1. anyone know whats the highest bonus offer they've ever had on the mercedes platinum? going to apply now for the $200 airline credit this year, but was just wondering for other applicants.

2. is this the only "official" amex platinum card available in the US that is cobranded and thus "different" in terms of MR bonuses?

leonard016

I haven't seen a higher offer for Mercedes Platinum.

There is an Ameriprise co-branded Platinum. No signup bonus but the 1st year annual fee is waived. Also you get 5K points bonus for each $20K spent (25% bonus).

http://banking-credit.ameriprise.com...s-platinum.asp

drsaith

thanks for the info, also great blog, very comprehensive.

do you know if applying for the ameriprise plat excludes you from direct-from-amex plat bonuses in the future? would jump on that ameriprise offer since the benz plat is new, so long potential for a better offer, but if taking that excludes me from future bonuses would go for the benz instead.

also, anyone have both the amex plat & benz plat? if you had 4 cards on each ($625 & $650/year), could you get $800 on each a year in airline credits?

jpark1982

The $200 airline credit is for the primary cardholder only, so if you had the Platinum and the MB Platinum you would get a max of $400 back each year.

am1996

Considering the fact that the MB Platinum card has only been around for a month or two, this isn't all that surprising. I would imagine that if higher bonuses are or will be available, they will be by invitation only, just like they are on the non-MB AMEX Platinum card.

The annual fee for AU's is also waived for the first year.

The official qualification criteria for the Ameriprise AMEX Platinum is having $1MM in assets with Ameriprise.

am1996

You get one $200/year reimbursement on each card regardless of the number of authorized users that you've added.

In other words, if you have a Plat card and have added 3 AU's, all 4 of you have the same $200 to share among you.

am1996

I realize that this post is a few months old but I thought I'd mention that while the conceptual explanation is spot on, the calculations themselves are a bit more nuanced. Would you have paid that much for a transatlantic business class ticket if you weren't redeeming miles for them? In your case, it sounds like the answer is "yes," as the $0.0225 valuation is quite reasonable. At the same time, if the answer is "no," then people should not be performing the calculation based on the value of the benefit that they'd otherwise never pay for. Instead, the calculation should be performed based on the value that they would be willing to pay for it.

It goes without saying that the value of miles that you would've earned but for the fact that it's an award ticket needs to be accounted for as well. In other words, if your MR points get redeemed for a ticket that would've cost you $1,000, you need to subtract the value of the miles and other benefits that you would've earned on that ticket if you had purchased it instead from that $1,000, which will reduce the value that you'd assign to your MR points.

leonard016

You are right that when assessing value of miles it should be based on how much you would like to pay rather than the face value of the tickets. I think mia gave $0.0225 he did mean that he would like to pay that much - does not suggest everyone should.

It has been discussed many times. The accurate formula to determine value of miles shall be:

(value of ticket you want to pay - taxes, fees and charges for redeeming miles - credit card rewards if you pay cash for the ticket) / (miles redeemed + miles you will earn if you pay cash)

Let me know if I miss something.

am1996

Have any of you who have received the $100 certificate tried to apply it towards the cost of services rather than accessories?

am1996

Oh, I wholeheartedly agree with this. I wasn't disagreeing with anything that Mia said. I just wanted to clarify his/her post.

No, I think that's exactly right. The only pretty self-evident caveat that I would add is that you also have to also factor in various additional benefits that may be more difficult to quantify. For instance, if the miles would've allowed you to cross over the next elite threshold, that needs to be accounted for. Likewise, if you have spending reward thresholds on your credit card, that needs to be factored in.

leonard016

I agree 100%. I think I will revise the formula to:

(value of ticket you want to pay - taxes, fees and charges for redeeming miles - value of both RDMs and EQMs you will earn if paying cash - credit card rewards if paying cash - value of other benefits you lose) / (miles redeemed)