Expired Hot Deals

[American Express] Air Miles Platinum 15% back on $1,500 MSR (net $227)

  • Last Updated:
  • Oct 28th, 2020 8:48 am
Deal Addict
Oct 3, 2018
2541 posts
2554 upvotes
GTA
hansdoreen wrote: This or the Amex SimplyCash Preferred™ Card?

I've never used AIR MILES rewards, what's the reward equivalent to % of cash back?

Signed up for this card in 2019:
2,000 AM for $1,500 in first 3 mths; $65 AF - $50 GCR Rebate

= $210 * - $15 AF after rebate
= $195 net gain

vs. current GCR $40 rebate
= $315 * - $80 AF after rebate
= $235 net gain

235/1500
= 15.67% return

* Cash Air Miles = .105 per AM, redeemable at specific vendors as @Kiraly mentioned

vs
#2 SimplyCash Preferred with $60 GCR Rebate
american-express-amex-simplycash-prefer ... #p33340657

= $400 - $39 AF
= $361

or
= $500 YMMV - $39 AF
= $461

9% Return


Many will probably still pick #2:

- have upcoming spend up to $4k (or $5k YMMV)
- prefer straight cash back as either a) don't collect Air Miles or b) don't want to be tied into redeeming at specific vendors

If you want to start collecting Air Miles/shopping at Air Miles Vendors and want a smaller min spend $1,500 and Air Miles deposited after 3 statements (vs CB next year Sept for #2), then go for #1.

Cheers!
Deal Addict
Jul 15, 2009
1992 posts
1119 upvotes
mzmoney wrote: Signed up for this card in 2019:
2,000 AM for $1,500 in first 3 mths; $65 AF - $50 GCR Rebate

= $210 * - $15 AF after rebate
= $195 net gain

vs. current GCR $40 rebate
= $315 * - $80 AF after rebate
= $235 net gain

235/1500
= 15.67% return

* Cash Air Miles = .105 per AM, redeemable at specific vendors as @Kiraly mentioned

vs
#2 SimplyCash Preferred with $60 GCR Rebate
american-express-amex-simplycash-prefer ... #p33340657

= $400 - $39 AF
= $361

or
= $500 YMMV - $39 AF
= $461

9% Return


Many will probably still pick #2:

- have upcoming spend up to $4k (or $5k YMMV)
- prefer straight cash back as either a) don't collect Air Miles or b) don't want to be tied into redeeming at specific vendors

If you want to start collecting Air Miles/shopping at Air Miles Vendors and want a smaller min spend $1,500 and Air Miles deposited after 3 statements (vs CB next year Sept for #2), then go for #1.

Cheers!
Or they don't want to be shut down over $200.
Deal Addict
User avatar
Aug 21, 2009
2172 posts
1302 upvotes
North Vancouver
wilhelmthe1st wrote: GCR is boosted to $100 right now
Give yourself a hug, good man! Smiling Face With Open Mouth And Smiling Eyes
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Deal Addict
Aug 17, 2008
1090 posts
872 upvotes
Toronto
wilhelmthe1st wrote: GCR is boosted to $100 right now
excellent!
So now its a 20.8% return on the $1500 spend?

$1500/10 = 150 AM + Bonus 3000 AM = 3150 AM / 95 AM * $10 = $331.58 + $100 GCR = $431.58 - $120 annual fee = Net $ 331.57

$1500 on non AM partner spend (ie: car insurance vs shell/lowes/LCBO/metro etc)
The Golden Rule: those who have the gold, make the rules
Deal Addict
User avatar
Jun 15, 2005
1336 posts
753 upvotes
wilhelmthe1st wrote: GCR is boosted to $100 right now
Was just coming to post this! Great GCR rebate right now.
Deal Addict
Jul 15, 2009
1992 posts
1119 upvotes
wilhelmthe1st wrote: GCR is boosted to $100 right now
Doh. So for someone who got a Cobalt and a Plat since January, is it safe to apply or too risky?

Still might go with TD FCT instead. $300 Expedia for $1500 spend.

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