AMEX Platinum Rewards Credit Card

[mitwg]

My apologies if a thread already exists for this. Not sure if this has been around before but it seems new?

https://www.americanexpress.com/au/content/platinum-rewards-credit-card/?filter=currentoffers

It looks like an entry level rewards card with a decent points earn on some types of spends, with an annual fee of $80.

 

[luuuis]

That's actually pretty decent, especially if you don't want the complimentary flight that comes with the Platinum Edge.

No signup bonus though, and no insurance.

 

[mitwg]

Yep, that looks like what it is.

Essentially it is an upgraded version of the BMW Gold credit card, except it comes with some additional points earn opportunities in trade of $80 annual fees. The card actually looks fairly attractive to me because I don't ever use the free flight for my own benefits (I've a complimentary Plat Reserve and I always hand this out to friends/family) and I've been a bit jealous of the people with Plat Edge cards with their supermarket/fuel point earn bonuses.

This seems like it may be worth $80 for me to get this to supplementary card to my existing AMEX portfolio.

 

[prozac]

That's a good find mitwg. Membership of MR fr the cost of the card and first year free. Conditions re Aust residency or visa would suit some of those posters on another thread who complained they were knocked back on application due to being recent arrivals.

...and I've been a bit jealous of the people with Plat Edge cards ..

Why not first try for a Plat Edge then and use this as your fall back position if unsuccesful?

 

[jlien]

There is already a thread on this card found here:
http://www.australianfrequentflyer..../amex-platinum-rewards-credit-card-58196.html

Perhaps a mod can merge the two topics.

As for the topic at hand, I agree this card is better than the BMW gold in its first year (unless the BMW card starts coming with free DJ's GC's again)
After the first year the $80 needs to be weighted vs the amount of supermarket & petrol spend you expect to do, as well as how much you value your MR points.

At 2c a point, you'd be ahead if you spend more than 4k per year on supermarket/petrol, and at 1c a point, you'd need to spend 8k to be ahead.

If QFF points are of any use, then i would actually say that the DJ's amex is better value at $99, since it earns 2.25 QFF ppd for supermarkets and petrol and come with a 22,500 sign on bonus.

I guess this card is good for those that want to toe dip their way into the amex MR program, there's no real harm and they can decide later if they want to keep it or upgrade (or downgrade)

 

[JohnK]

I had a fee free Gold card for life where I was paying $80 for Membership Rewards.

Amex forced me to switch to this card. Now they are trying to get me to switch to the Platinum Edge or any card with an annual fee.

 

[luuuis]

Amex forced me to switch to this card.

How can they do this if you're on a "free for life" offer? The Gold card is still offered, right?

 

[mitwg]

How can they do this if you're on a "free for life" offer? The Gold card is still offered, right?

Although I'm not 100% sure on this, I think AMEX would have some sort of option to discontinue a product.

After all, they are a business with obligations to the shareholders and if a product is costing too much money, it would be fair for them to withdraw the product. Usually in such cases, the law would probably require X days notice and meet specific requirements.

I'm saying this because I work as an investment management firm and I've definitely seen occasions where our product team had to withdraw investment offerings as the derivatives used to manage the fund became too costly for us. Usually, step 1 would be to just simply not offer the product to new business but if you still cannot meet your costs after that stage, the only option is to start cancelling client contracts.

I think we gave customers the options of 'either pay higher fees to cover our extra costs' or 'take your money and leave'. Some clients weren't too happy but ASIC had no problems with this as it was perfectly legal.

 

[JohnK]

How can they do this if you're on a "free for life" offer? The Gold card is still offered, right?

I don't think the Gold credit card is still offered although a few on AFF may have been able to keep it.

There is a thread about it somewhere.

 

[mick]

I don't think the Gold credit card is still offered although a few on AFF may have been able to keep it.

There is a thread about it somewhere.

Yup, I got pushed onto the same card at the same time as you did. I still keep it for supermarket and petrol spend, as it's linked to my MR Ascent Premium. It's fee-free for me as long as I hold an Amex charge card (any).

 

[jlien]

I don't think the Gold credit card is still offered although a few on AFF may have been able to keep it.

There is a thread about it somewhere.

The gold ascent is not publicly available anymore, unless you have professional affiliation. However you are able to apply for the BMW gold credit card, which for all intents and purposes is the same, and is fee free.

 

[prozac]

The gold ascent is not publicly available anymore, unless you have professional affiliation. However you are able to apply for the BMW gold credit card, which for all intents and purposes is the same, and is fee free.

Do points credit to existing MR or do you need to set up (and pay) for another membership?

 

[jlien]

Do points credit to existing MR or do you need to set up (and pay) for another membership?

They all funnel into the same (personal*) MR account, it's a good way of keeping MR points active when you want to downgrade your cards.

*Unsure about corporate cards as my workplace won't pay for the $80 MR fee.

 

[JohnK]

The gold ascent is not publicly available anymore, unless you have professional affiliation. However you are able to apply for the BMW gold credit card, which for all intents and purposes is the same, and is fee free.

Happy with vanilla falvour Platinum and paying $80 for Membership Rewards. Almost identical to the charges on the old Gold credit card.

Now if only airfares were not so cheap so I can use my ~270,000 MR points.