Jun 19, 2015, 7:12 am
Last edit by: 747FC
Current offer (as of 7/1/16):
"A special offer for Ameriprise Clients: $0 introductory fee for the first year, then $550. Additional Cards can also be added for an introductory fee of $0 for the first year, then $175 for up to 3 Additional Platinum Cards. Earn an additional 5,000 Membership Rewards points for every $20,000 in eligible purchases on the Card, up to 30,000 additional points per year."
https://www262.americanexpress.com/d...rsion/personal
(In 2015 the offer included 25k MR points for $3,000 spend, with $450 annual fee waived.)
__________________________________________________ _________________
Is this card a different product than the normal personal Amex Platinum?
Yes, by all indications this card is treated differently. Multiple members have received the bonus after previously having a personal Platinum card. Members have also been able to use the travel credit on this card even after obtaining the travel credit on a personal Platinum in the same year. (Post 363)
Do authorized users have a fee?
The fee for additional users is waived for the first year. You can add authorized users at $0 when signing up or you can add them later by calling the number on the back of your card.
My decision is "in progress", what should I do?
Many users report that they received an "in progress" decision initially only to be approved within the next 48hrs with no additional communication (recon call). Click here to check status.
Does one need to be an Ameriprise customer to be approved for this card?
No, one does not have to be an Ameriprise customer in order to get approved for the card, although AMEX could technically enforce the "rule" in their terms and conditions and either cancel your card or convert it to a "regular" Platinum.
"A special offer for Ameriprise Clients: $0 introductory fee for the first year, then $550. Additional Cards can also be added for an introductory fee of $0 for the first year, then $175 for up to 3 Additional Platinum Cards. Earn an additional 5,000 Membership Rewards points for every $20,000 in eligible purchases on the Card, up to 30,000 additional points per year."
https://www262.americanexpress.com/d...rsion/personal
(In 2015 the offer included 25k MR points for $3,000 spend, with $450 annual fee waived.)
__________________________________________________ _________________
Is this card a different product than the normal personal Amex Platinum?
Yes, by all indications this card is treated differently. Multiple members have received the bonus after previously having a personal Platinum card. Members have also been able to use the travel credit on this card even after obtaining the travel credit on a personal Platinum in the same year. (Post 363)
Do authorized users have a fee?
The fee for additional users is waived for the first year. You can add authorized users at $0 when signing up or you can add them later by calling the number on the back of your card.
My decision is "in progress", what should I do?
Many users report that they received an "in progress" decision initially only to be approved within the next 48hrs with no additional communication (recon call). Click here to check status.
Does one need to be an Ameriprise customer to be approved for this card?
No, one does not have to be an Ameriprise customer in order to get approved for the card, although AMEX could technically enforce the "rule" in their terms and conditions and either cancel your card or convert it to a "regular" Platinum.
Ameriprise Amex Platinum (discontinued October 2019)
Aug 27, 2018, 9:02 am
#976
Suspended
Join Date: Oct 2017
Location: Miami, Florida
Programs: AA ExPlat, Hyatt Globalist, IHG Spire, Hilton Gold
Posts: 4,009
Aug 27, 2018, 9:34 am
#979
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Here is a slide from an American Express presentation. Note that they report year-over-year changes in the RATE of new account Acquisition and Attrition, but not the actual proportion of accounts closed.
Aug 27, 2018, 9:45 am
#980
Suspended
Join Date: Oct 2017
Location: Miami, Florida
Programs: AA ExPlat, Hyatt Globalist, IHG Spire, Hilton Gold
Posts: 4,009
Companies almost always report such info in the most positive manner possible, but no decent analyst should be fooled by it.
People who churn the Ameriprise Plat, charge little or nothing to the card (since there's no sign-up bonus), and simply milk Amex for costly benefits aren't at all a positive for Amex. Unless Ameriprise is paying Amex for some or all of the first year's AF but hasn't figured out that it's being abused by non-customers, it remains inexplicable that Amex hasn't cracked down on this.
People who churn the Ameriprise Plat, charge little or nothing to the card (since there's no sign-up bonus), and simply milk Amex for costly benefits aren't at all a positive for Amex. Unless Ameriprise is paying Amex for some or all of the first year's AF but hasn't figured out that it's being abused by non-customers, it remains inexplicable that Amex hasn't cracked down on this.
Aug 29, 2018, 1:33 am
#981
Join Date: Jul 2005
Programs: Hilton Diamond, Starwood Platinum, AA, SW, Delta
Posts: 885
I try to apply for card and got this message Based on your history with American Express welcome offers, introductory APR offers, or the number of Cards you have opened and closed, you are not eligible to receive this welcome offer. But since this card has no welcome offer would I still be able to apply?
Aug 29, 2018, 2:58 am
#982
Join Date: Apr 2014
Posts: 540
Companies almost always report such info in the most positive manner possible, but no decent analyst should be fooled by it.
People who churn the Ameriprise Plat, charge little or nothing to the card (since there's no sign-up bonus), and simply milk Amex for costly benefits aren't at all a positive for Amex. Unless Ameriprise is paying Amex for some or all of the first year's AF but hasn't figured out that it's being abused by non-customers, it remains inexplicable that Amex hasn't cracked down on this.
People who churn the Ameriprise Plat, charge little or nothing to the card (since there's no sign-up bonus), and simply milk Amex for costly benefits aren't at all a positive for Amex. Unless Ameriprise is paying Amex for some or all of the first year's AF but hasn't figured out that it's being abused by non-customers, it remains inexplicable that Amex hasn't cracked down on this.
Aug 29, 2018, 5:28 am
#983
Suspended
Join Date: Jul 2001
Location: Watchlisted by the prejudiced, en route to purgatory
Programs: Just Say No to Fleecing and Blacklisting
Posts: 102,095
For many years now, Amex has had other fish in the sea to fry and been frying other card holding fish, and frying Amex Plat card churning by the Ameriprise Amex card holder sub-set hasn't been a priority.
Also, I discount any guarantees that Ameriprise Amex Plat holders use the Centurion lounges disproportionately more than other Amex Plat holders; that is unless your idea of "disproportionate" use is any and all use by Ameriprise Amex Plat holders.
Aug 29, 2018, 5:30 am
#984
Join Date: Sep 2011
Posts: 1,857
I try to apply for card and got this message Based on your history with American Express welcome offers, introductory APR offers, or the number of Cards you have opened and closed, you are not eligible to receive this welcome offer. But since this card has no welcome offer would I still be able to apply?
Aug 29, 2018, 8:44 am
#985
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
5,000 points after $20,000 spend is an ongoing standard feature of the card, not part of a specific offer. It's also evidence that the Ameriprise product is not identical to the standard product.
Aug 29, 2018, 11:03 am
#986
Join Date: Sep 2011
Posts: 1,857
This is the only feature of the card that has a "Bonus ID" listed in the benefit terms. I do think this could be a bonus that Amex might deny if you see the popup box during the application. Pure speculation on my part as I have no data points to point to.
Aug 29, 2018, 12:35 pm
#987
Suspended
Join Date: Oct 2017
Location: Miami, Florida
Programs: AA ExPlat, Hyatt Globalist, IHG Spire, Hilton Gold
Posts: 4,009
But the slide is not meant to show profitability of those customer acquisitions, but rather the appeal of the product as a whole. Even if we accept your logic that all of these "churners" that charge little or nothing to the card (I'm not so sure of that) are managing to sneak through the door and "milk" Amex of benefits, what Amex is saying is that this Platinum club is so popular that a lot of people want in and some even find clever ways to sneak in. It's sort of like the restaurant that adds a buffet to attract more customers; a small number of folks will hit it hard, share their plate with a nonpaying companion, and even take food home and not be profitable in any way, but from the outside what other people see is a full restaurant that they want to come in and check out and spend their money. As mia suggests this is part of their marketing strategy, and Amex is just putting this whole Ameriprise block of customers that open cards for brief periods of time as one of their [effective] marketing costs.
LOL. Let's be serious here. The benefits are the only reason people churn this card.
Aug 29, 2018, 12:47 pm
#988
FlyerTalk Evangelist
Join Date: Jul 2008
Location: IAH
Programs: DL DM, Hyatt Ist-iest, Stariott Platinum, Hilton Diamond
Posts: 12,792
Aug 29, 2018, 1:12 pm
#989
Suspended
Join Date: Jul 2001
Location: Watchlisted by the prejudiced, en route to purgatory
Programs: Just Say No to Fleecing and Blacklisting
Posts: 102,095
Aug 29, 2018, 1:39 pm
#990
FlyerTalk Evangelist
Join Date: Jul 2008
Location: IAH
Programs: DL DM, Hyatt Ist-iest, Stariott Platinum, Hilton Diamond
Posts: 12,792
I mean to know about this barely advertised variant of the Platinum card and systematically churn it every year suggests a level of knowledge and scheming on the part of people doing it that is probably higher than your average joe. Even if they aren't disproportionate users of the lounges and other benefits, they're probably not making money for Amex, since they contribute no annual fee revenue and with no sign up bonus, it doesn't give much incentive to use the card for actual spend. Why Amex is OK with this I don't really understand, but hey it's their business.