Recap of benefits from Amex Platinum
In my first few posts of this blog I wrote about my first major credit card churn, the American Express Platinum Charge Card:
- American Express Platinum Charge Card
- American Express Platinum benefits
- American Express Platinum benefits part 2
- American Express Platinum benefits update
- 300 Membership Reward points for Delta Skyclub visits
- 5,000 Membership rewards points for Extended Payment option signup
- 50,000 Membership rewards points for making a phone call
Again, this card carries a hefty annual fee. $450 / year. But even the average non-travel hacker cardholder should be able to reap more than $450 of value from its benefits. Here’s what I got out of it in the first 10 months of having it:
- 76,500 Delta Skymiles (cost = 51,000 Amex Membership Rewards points)
- 25,000 Delta Medallion Qualifying Miles (cost = 0. Stacked a promo from the 51k MR points transfer)
- 50,000 Delta Skymiles (from a promo to requalify for Platinum Medallion)
- 50,000 MR points (signup bonus after $1000 spend in 3 months)
- 5,000 MR points (for a free signup for Extended Payment option signup)
- 10,000 MR points (for downloading American Express inSite browser toolbar, see ThePointsGuy post here)
- 50,000 MR points (for 3 easy phone calls to ask for a bigger bonus match)
- 8,100 MR points (for visiting Delta Skyclubs)
This brings me to a net grand total of:
126,500 Delta Skymiles
25,000 Delta Medallion Qualifying Miles
73,100 Membership Rewards points
Now those points & miles alone are definitely worth the cost of the $450 annual fee, an inquiry on my credit report, and temporarily lowering my credit score a couple points. Assuming there is another 50% transfer bonus from American Express and I make use of it, this card could possibly net me 236,000 Delta Skymiles! That’s 4,000 miles away from TWO business class tickets to anywhere in Asia! At a very minimum, those two tickets could be worth $8,000.
BUT WAIT, THERE’S MORE!
One of the card’s benefits, the $200 airline fee reimbursement. The Platinum card gives you up to $200 reimbursed in fees such as checked bags fees, change/cancellation fees, on-board purchases, etc. But they can’t be used for the purchase of tickets. While it’s not a published qualifying transaction, I have had success getting award ticket taxes/fees getting reimbursed. AND as a Platinum Medallion, you don’t get charged a fee to return award tickets. You guys are smart, I’m sure you can put two and two together…….
You need to select one airline, and you’re locked in to that airline for the calendar year. The other good thing is that the $200 runs by calendar year, not anniversary year date. SO, if I were to get rid of my card before my next annual fee is up in March (but I have no intention of doing so), I would have been able to harvest $400 in reimbursement, bringing down the card’s cost to $50!
The last major benefit I love is the free Global Entry. This has definitely saved me loads of time instead of waiting in line at Immigrations and Customs. Now I just bypass the lines and go from the plane to curbside in less than 10 minutes. I only returned back into the US 3 times in 2011, so it hasn’t saved me that much time. But for people who travel internationally at least once a month, this can be a real lifesaver.
I know that to replicate these results, certain planets need to be aligned at the right time, but for the most part, great value can be still be achieved for almost no cost.