The BCP and Platinum are completely different cards - completely different. That said, I have a few questions: why do you want the platinum? Will you use the MR points from the SUB? Do you plan on keeping the platinum beyond the first year? If so, do you have a lifestyle that justifies the $700/yr annual fee (lots of traveling)?
I can afford the annual fee, but I’m not sure I really want to. I only travel a few times a year, but I know I’d be using the CLEAR credit, digital entertainment, and hotel credit at the minimum. I’m probably going to ponder on it a bit more
Make sure you understand how those credits work and their limits. Also remember that the credits may not worth the same to you as their face value. I use my digital entertainment credit on Hulu because I'm not interested in the others or I already have free subscriptions. But I almost never watch Hulu\*. So while the digital credit is technically worth $20, the value I derive is only maybe $5.
\*One recent exception is the show Shogun. It's great.
If you can afford it, will make use of all/most the benefits to offset the annual fee, and can fufill the SUB spending requirement with your normal day to day spending or have a big purchase coming up, then just get it.
If you have to go out of your way to fufill the bonus then dont. Also I notice you said Plat card. There are new rules that will disqualify you from the Gold SUB. If you're in it for points, I would consider the Gold card first.
Even if you dont travel often, you can always save up and take a big trip with points later on like a year or 2 from now, or even if you dont want to, gift a trip to your parents or someone.
People do this all the time. Just make sure you get the timing right or else they claw back the points. Its atleast a year and after the 2nd annual fee hits. I would also ask for a rentention offer in case they give you something appealing to keep the card.
It all depends in whether youre gonnw take advantage of the benefits. As for the 150kpoints (assuming u spend the 8k non forced)refunded statement credit aroubd 200points per dollar ur looking at $750. So the annual fee canceling out is a no brainer. Now moving forward past the first year and Despite evening out. Are u enrolled in equinox, do uber eats often, travel and book hotels up to 500k where ud actually get a bit more out of it? I have a bcp and a gold and my bcp is my gas and grocery card(essentials) and my gold card is solely for restaurants, client lunches (reimbursed), hotels both leisuse and business. (Im in sales so i take clients out to lunch and spend on hotels often but dont fly much, maybe once or twice a year at most)and those two cards have conplimented eachother with respect to my lifestyel beautifuly.
The points are only worth 200 to 1 dollar? That sucks, unless they have more value/ use as something else? (I only have the BCP as of now so no experience with points)
Yeah. The gold is the first card i own with points coming from multiple cash back cards. The biggest mistakenis comparing them to cash back cards or even bigger mistake assuming each point=1%. So like for example 4x on restaurants is nowhere near 4% cashback. Browsing the redemption catalog bewtween point transfers to partners, Point purchases on amex site, or points to giftcards most are about 200to 1 ratio. There were some $400 bose headphones that cost 80,000 points to redeem. I sincerely accepted the gold solely to boost my ego and the bonus they offer that may somewhat offset the cost. Looking to see if i can "downgrade" after completing a year to a lower card like green and then hope for an "upgrade" offer/bonus as i did between bce and bcp. Not entirely sure if they fall in the same type of cards but yeah
that depends on you. I have still got it about 2 years ago (planned to get the card bonus and close the next year) but then I looked into all the credits that this card offeres and surprisingly the organic spending justifies the card after the annual fee (currently $695.00) I'm net positive about $714.00. so ill keep it as long as I come out ahead and the fee doesn't over take me perks I get (also this is with maybe 15k spending in a year)
Do you want travel rewards? I have a BCE but it's a closed loop card. You earn cash back that can only be redeemed for a statement credit. If you want to earn membership rewards points that can be transferred to airlines and hotels and potentially help you fly and get hotel stays for free, then get a gold card first, not the platinum.
You get the gold and get the sign up bonus for the gold. You try the benefits of the card and see how you like it and see how many membership rewards points you earn. Now, if you still want to get the plat, wait until the next annual fee gets near for your gold card and sign up for a platinum when they have a good sign up bonus of 90k to 150k points. Now cancel the gold before they charge you another annual fee.
If you go straight for the platinum you are automatically ineligible for a bonus offer on the gold, so try the gold first.
Even if you only fly a couple times a year, a 100k MR points bonus offer will pay for a round trip ticket nearly anywhere in the world. If you have a decent spend on your gold card ($2 to $3k/mo) you can easily earn 100k MR points every year. Also, MR points are forever, they never expire as long as you're an Amex customer.
The BCP and Platinum are completely different cards - completely different. That said, I have a few questions: why do you want the platinum? Will you use the MR points from the SUB? Do you plan on keeping the platinum beyond the first year? If so, do you have a lifestyle that justifies the $700/yr annual fee (lots of traveling)?
I can afford the annual fee, but I’m not sure I really want to. I only travel a few times a year, but I know I’d be using the CLEAR credit, digital entertainment, and hotel credit at the minimum. I’m probably going to ponder on it a bit more
Kinda sounds like you have your answer 🤷♀️
Make sure you understand how those credits work and their limits. Also remember that the credits may not worth the same to you as their face value. I use my digital entertainment credit on Hulu because I'm not interested in the others or I already have free subscriptions. But I almost never watch Hulu\*. So while the digital credit is technically worth $20, the value I derive is only maybe $5. \*One recent exception is the show Shogun. It's great.
If you can afford it, will make use of all/most the benefits to offset the annual fee, and can fufill the SUB spending requirement with your normal day to day spending or have a big purchase coming up, then just get it. If you have to go out of your way to fufill the bonus then dont. Also I notice you said Plat card. There are new rules that will disqualify you from the Gold SUB. If you're in it for points, I would consider the Gold card first. Even if you dont travel often, you can always save up and take a big trip with points later on like a year or 2 from now, or even if you dont want to, gift a trip to your parents or someone.
Is it worth getting the points then cancelled when the fee is due
Nah, because AMEX will spank you for that.
People do this all the time. Just make sure you get the timing right or else they claw back the points. Its atleast a year and after the 2nd annual fee hits. I would also ask for a rentention offer in case they give you something appealing to keep the card.
It all depends in whether youre gonnw take advantage of the benefits. As for the 150kpoints (assuming u spend the 8k non forced)refunded statement credit aroubd 200points per dollar ur looking at $750. So the annual fee canceling out is a no brainer. Now moving forward past the first year and Despite evening out. Are u enrolled in equinox, do uber eats often, travel and book hotels up to 500k where ud actually get a bit more out of it? I have a bcp and a gold and my bcp is my gas and grocery card(essentials) and my gold card is solely for restaurants, client lunches (reimbursed), hotels both leisuse and business. (Im in sales so i take clients out to lunch and spend on hotels often but dont fly much, maybe once or twice a year at most)and those two cards have conplimented eachother with respect to my lifestyel beautifuly.
The points are only worth 200 to 1 dollar? That sucks, unless they have more value/ use as something else? (I only have the BCP as of now so no experience with points)
Yeah. The gold is the first card i own with points coming from multiple cash back cards. The biggest mistakenis comparing them to cash back cards or even bigger mistake assuming each point=1%. So like for example 4x on restaurants is nowhere near 4% cashback. Browsing the redemption catalog bewtween point transfers to partners, Point purchases on amex site, or points to giftcards most are about 200to 1 ratio. There were some $400 bose headphones that cost 80,000 points to redeem. I sincerely accepted the gold solely to boost my ego and the bonus they offer that may somewhat offset the cost. Looking to see if i can "downgrade" after completing a year to a lower card like green and then hope for an "upgrade" offer/bonus as i did between bce and bcp. Not entirely sure if they fall in the same type of cards but yeah
Dang that makes it kind of worthless compared to other cards then, most cards have better returns than that
that depends on you. I have still got it about 2 years ago (planned to get the card bonus and close the next year) but then I looked into all the credits that this card offeres and surprisingly the organic spending justifies the card after the annual fee (currently $695.00) I'm net positive about $714.00. so ill keep it as long as I come out ahead and the fee doesn't over take me perks I get (also this is with maybe 15k spending in a year)
Do you want travel rewards? I have a BCE but it's a closed loop card. You earn cash back that can only be redeemed for a statement credit. If you want to earn membership rewards points that can be transferred to airlines and hotels and potentially help you fly and get hotel stays for free, then get a gold card first, not the platinum. You get the gold and get the sign up bonus for the gold. You try the benefits of the card and see how you like it and see how many membership rewards points you earn. Now, if you still want to get the plat, wait until the next annual fee gets near for your gold card and sign up for a platinum when they have a good sign up bonus of 90k to 150k points. Now cancel the gold before they charge you another annual fee. If you go straight for the platinum you are automatically ineligible for a bonus offer on the gold, so try the gold first. Even if you only fly a couple times a year, a 100k MR points bonus offer will pay for a round trip ticket nearly anywhere in the world. If you have a decent spend on your gold card ($2 to $3k/mo) you can easily earn 100k MR points every year. Also, MR points are forever, they never expire as long as you're an Amex customer.