American Express Platinum Charge Card

This is my first post for this blog that was originally started on Facebook.

Hey guys. So I just got my American Express Platinum card. What I didn’t realize until about an hour ago, was that it has no spending limit. Good thing I’m responsible. But just keeping you updated on my shenanigans.

American Express Platinum

Applied for the card yesterday, 3/30/2011 at 4:30pm online.
Called in, knowing that they can free overnight ship a card of this tier. I told them that I needed to have the card to buy something today. They said that they could send it to me, but it would go through a reissue/replacement desk since they can’t overnight new cards. The only difference is that the number would be different. Though obviously it didn’t matter since I haven’t had any activity or anything on my Amex Plat acct yet. The card arrived at 4:50pm today, 3/31/2011. I love Amex. The sign up bonus right now is 50k Membership Reward Points if you spend $1,000 in the first 3 months. Also, they will let you borrow up to 50k Membership Reward Points when you immediately get the card. Annual fee is high, $450, but there are a ton of perks that come with the card. Also, I don’t plan on keeping it the full year, so when I cancel, the fee will be prorated.

So now the plan. I was planning on joining the credit card churning game, but wasn’t sure which offer to start with.

(If you need background info on what I’m talking about, check out this site: http://frugaltravelguy.blogspot.com/ )

My goal is to accumulate about 100k-125k in Delta Skymiles to go on another once in a lifetime trip. (I’m guessing in my life I’ll go on “Once in a lifetime trips” every 1.5 years or so. :-)

So Delta is running a few lucrative promotions which I plan on stacking. They are:

1. www.delta.com/mrgetaway
2. www.delta.com/getmore
3. https://dmn.delta.com/offers/thankyougold/

#1 is a 30% bonus. If you transfer Amex Membership Rewards Points to Skymiles, they’ll give you 30% more. Expries 3/31/2011.

#2 is a 50% bonus, similar to #1, but also if you transfer 50k or more Membership Rewards, Delta will also give you 25k Medallion Qualification Miles, which is an instant bump in one level of Medallion status, i.e. regular->silver, silver->gold, gold->platinum. Expires 5/31/2011

#3 is a targeted offer for current Gold Medallions, which if I re-qualify for Gold Medallion, Delta will give you 25k miles. Qualify for Platinum Medallion, 50k miles. Qualify for Diamond Medallion, 100k miles. Expires 12/31/2011

Currently for 2011, with rollover, I am at ~26k Medallion Qualifying Miles for 2011 which is Silver Medallion. I plan on using the borrowed 50k Membership Rewards to transfer to Delta. I should net:

#1 = 15k SM bonus
#2 = 50k SM + 25k SM bonus + 25k MQM
#3 = 25k SM or 50k SM bonus.

SM-Skymiles

MQM-Medallion Qualification Miles

In total, for signing up for the card, I should be able to get 100k-140k SM, and a bump up in status for 2012. With my current plans, I actually can make Platinum Medallion for 2012. As for as the $1000 spend in the first 3 months, I will hit that without actually spending any money. Using the US Mint $1 coin program. But that’s for another day.

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One Response to “American Express Platinum Charge Card”

  1. […] American Express Platinum Charge Card […]

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