While I would agree that it was certainly worth it for you, your "close to $7k in benefits" is overstated because you are not factoring the opportunity cost (which is a very real cost that most people ignore). Since you have a Rogers WE card, you would have otherwise gotten 1.5% on your $20-25k/year of spend. So, the actual benefit you received from the Platinum card would be $1.5k-$1.9k lower than the "close to $7k" that you mention (then add in whatever other benefits you think that you missed).thefusio15 wrote: ↑[snip]
So after 5 years of spending on the card, I got close to 7k$ in "benefits" from the card, and I am pretty much certain I am missing some things in there. I don't have an exact spending amount over the entire period, but my best guess is 20-25k a year. I still think the AF was worth it throughout, there are definitely cases where I could have made more points chasing other cars, or even using a Cobalt the entire time, but it was worth it for us regardless. I am not sure it is worth my time to wait and see whatever change comes along. I averaged 1.7X on most of my spend, 1.25X fixed would be a downgrade for me, especially if the AF increases and it is compensated with a second travel credit (which I wont have a use for at least 2-3 years).
[AMEX] Platinum/Biz Plat fee increases to $799 at 2023/9/26
- Last Updated:
- Mar 28th, 2024 11:10 am
Tags:
- SCORE+87
- efrant
- Deal Fanatic
- Jan 4, 2011
- 7373 posts
- 9178 upvotes
- Montreal
- thefusio15
- Sr. Member
- Mar 14, 2018
- 870 posts
- 1103 upvotes
- Ottawa, ON
You are totally right (as always), cost opportunity is one heck of a factor to consider too. There is also P2’s Cobalt that gets in the mix and blurs things even more…efrant wrote: ↑ While I would agree that it was certainly worth it for you, your "close to $7k in benefits" is overstated because you are not factoring the opportunity cost (which is a very real cost that most people ignore). Since you have a Rogers WE card, you would have otherwise gotten 1.5% on your $20-25k/year of spend. So, the actual benefit you received from the Platinum card would be $1.5k-$1.9k lower than the "close to $7k" that you mention (then add in whatever other benefits you think that you missed).
The number I gave there is (for the most part) the blended CPP I got from using the points, and doesn’t really consider beyond that. I am honestly not entirely impressed with how I used a large number of them, but some times were less ideal when I had to make decisions. I am also doubtful about where exactly my total spend is on that account since opened versus my other cards, including the others I did have in between (Business Plat, Aeroplan Reserve), but the 25k is definitely the upper limit in any given year, some years might be below 15k. Regardless, the point IS entirely valid and taken. That’s the issue whenever we look at numbers.
Anyway, cost opportunity, time opportunity, perceived value, type of spending… It all adds up and nuances everything.
The American Express Atlas (2023 Edition)
iPhone 15 Pro Max | Apple Watch Series 4 | MacBook Pro M1
AMEX Cobalt | Rogers MC
iPhone 15 Pro Max | Apple Watch Series 4 | MacBook Pro M1
AMEX Cobalt | Rogers MC
- Stormfather
- Deal Fanatic
- Aug 13, 2007
- 5058 posts
- 1279 upvotes
- GTA
May/June 2023 enrolee. Only have a single $200 credit expiring on my anniversary date.
- Kiraly
- Deal Expert
- Jan 9, 2011
- 19736 posts
- 28625 upvotes
- Vancouver
Did you have a different Amex card before 2022? I got plat in 2020, my card said "member since 99", which was when I got my first Amex card.
- projector
- Deal Addict
- Jul 25, 2018
- 1075 posts
- 664 upvotes
- Winnipeg, MB
Very odd indeed, some DPs:
- Approved for my (first ever) Amex Plat on 07/17/2022
- Booked a Refundable Hotel and used my $200 Travel Credit on 05/15/2023
- Plans changed, and had to cancel/refund that hotel on 06/19/2023
- Haven't seen that $200 clawed back, and I expect my next annual fee to post on 08/15/2023
- At this time I intend to take the 30 days to decide whether or not to keep the card
Just logged into American Express Travel and noticed two available $200 Travel Credits:
So from what I can tell, the top one is my "current year available travel credit" based on the expiry date. But the bottom one has an expiry date of this week.
What's the worst that could happen, if I try to use the bottom one? I imagine if I used the top one, that could possibly harm my chances of getting the AF rebated?
- Approved for my (first ever) Amex Plat on 07/17/2022
- Booked a Refundable Hotel and used my $200 Travel Credit on 05/15/2023
- Plans changed, and had to cancel/refund that hotel on 06/19/2023
- Haven't seen that $200 clawed back, and I expect my next annual fee to post on 08/15/2023
- At this time I intend to take the 30 days to decide whether or not to keep the card
Just logged into American Express Travel and noticed two available $200 Travel Credits:
So from what I can tell, the top one is my "current year available travel credit" based on the expiry date. But the bottom one has an expiry date of this week.
What's the worst that could happen, if I try to use the bottom one? I imagine if I used the top one, that could possibly harm my chances of getting the AF rebated?
- Gtaphotog
- Deal Fanatic
- Nov 6, 2018
- 7988 posts
- 11548 upvotes
The second credit expires next year, not this week.projector wrote: ↑Very odd indeed, some DPs:
- Approved for my (first ever) Amex Plat on 07/17/2022
- Booked a Refundable Hotel and used my $200 Travel Credit on 05/15/2023
- Plans changed, and had to cancel/refund that hotel on 06/19/2023
- Haven't seen that $200 clawed back, and I expect my next annual fee to post on 08/15/2023
- At this time I intend to take the 30 days to decide whether or not to keep the card
Just logged into American Express Travel and noticed two available $200 Travel Credits:
So from what I can tell, the top one is my "current year available travel credit" based on the expiry date. But the bottom one has an expiry date of this week.
What's the worst that could happen, if I try to use the bottom one? I imagine if I used the top one, that could possibly harm my chances of getting the AF rebated?
- projector
- Deal Addict
- Jul 25, 2018
- 1075 posts
- 664 upvotes
- Winnipeg, MB
- Gtaphotog
- Deal Fanatic
- Nov 6, 2018
- 7988 posts
- 11548 upvotes
- projector
- Deal Addict
- Jul 25, 2018
- 1075 posts
- 664 upvotes
- Winnipeg, MB
Fair point. I'm assuming that using "my next years" travel credit and then cancelling and asking for the AF to be rebated is probably not a smart decision?
- yesnomaybe
- Deal Addict
- Dec 29, 2012
- 2463 posts
- 2595 upvotes
- Toronto
For those of you with two travel credits, can you apply both of them to the same booking?
- thefusio15
- Sr. Member
- Mar 14, 2018
- 870 posts
- 1103 upvotes
- Ottawa, ON
For what it's worth, I was able to do it in the past, but only over the phone. Online wouldn't (unless they changed something since the last time).yesnomaybe wrote: ↑ For those of you with two travel credits, can you apply both of them to the same booking?
The American Express Atlas (2023 Edition)
iPhone 15 Pro Max | Apple Watch Series 4 | MacBook Pro M1
AMEX Cobalt | Rogers MC
iPhone 15 Pro Max | Apple Watch Series 4 | MacBook Pro M1
AMEX Cobalt | Rogers MC
- mirooshidan
- Newbie
- Jul 28, 2011
- 82 posts
- 27 upvotes
How long does it take typically until the 200 credit is applied? I forgot how long, just curious cause I booked a room a couple of days ago
- Kiraly
- Deal Expert
- Jan 9, 2011
- 19736 posts
- 28625 upvotes
- Vancouver
Less than a week, IME.mirooshidan wrote: ↑ How long does it take typically until the 200 credit is applied? I forgot how long, just curious cause I booked a room a couple of days ago
- 2009M5
- Deal Addict
- Sep 20, 2014
- 1637 posts
- 852 upvotes
- Toronto, ON, CA
The case of the mysterious $200 credits…
- projector
- Deal Addict
- Jul 25, 2018
- 1075 posts
- 664 upvotes
- Winnipeg, MB
Not online. If you look at my screenshot above, you see they are radio buttons. Only one choice can be selected.yesnomaybe wrote: ↑ For those of you with two travel credits, can you apply both of them to the same booking?
- g62kc
- Jr. Member
- May 10, 2009
- 177 posts
- 184 upvotes
- CALGARY
I saw this on another online discussion board, not sure how true/accurate this would be...Somebody called Amex, here is what s/he was told:
- Annual fee increased by $100
TWO additional $200 credits, one for dining and one for lifestyle(whatever that is)
They are going to announce this by mid-August and existing member will get notice by the end of the month
- phuviano
- Deal Addict
- Sep 3, 2005
- 3627 posts
- 1223 upvotes
- Vaughan
Did it say if they are replacing the travel credit with the lifestyle and dining ? Or is it 3 x $200 credits (travel, lifestyle, and dining)?g62kc wrote: ↑ I saw this on another online discussion board, not sure how true/accurate this would be...Somebody called Amex, here is what s/he was told:
- Annual fee increased by $100
TWO additional $200 credits, one for dining and one for lifestyle(whatever that is)
They are going to announce this by mid-August and existing member will get notice by the end of the month
Obviously its still all rumours until officially announced by Amex, but curious as to what was said.
For Sale
Nothing at the moment
Nothing at the moment
- Gtaphotog
- Deal Fanatic
- Nov 6, 2018
- 7988 posts
- 11548 upvotes
Which online discussion board?g62kc wrote: ↑I saw this on another online discussion board, not sure how true/accurate this would be...Somebody called Amex, here is what s/he was told:
- Annual fee increased by $100
TWO additional $200 credits, one for dining and one for lifestyle(whatever that is)
They are going to announce this by mid-August and existing member will get notice by the end of the month
That info doesn't line up with the fact many of us have gotten a second travel credit.
- g62kc
- Jr. Member
- May 10, 2009
- 177 posts
- 184 upvotes
- CALGARY
That's why I said I am not sure how true that is...I think we will all find out later this month...
Is the second travel credit kind of like a lifestyle one? I mean lifestyle credit can show up when you book travel? Who knows...
- EdisonL299
- Deal Fanatic
- Apr 24, 2017
- 7313 posts
- 6265 upvotes
No mentioning about earning structure? No 1.25x or other changes?g62kc wrote: ↑ I saw this on another online discussion board, not sure how true/accurate this would be...Somebody called Amex, here is what s/he was told:
- Annual fee increased by $100
TWO additional $200 credits, one for dining and one for lifestyle(whatever that is)
They are going to announce this by mid-August and existing member will get notice by the end of the month
If there are 3x$200 credits but they only increase the AF by $100, that’s a big step towards the US Amex Platinum. $799 - $600 = net $199 AF? Wow, I will take it.
It seems too good to be true though haha.
🤑 Amex Cobalt | MBNA RWE | Rogers MC
⛱️ Amex Platinum | Amex Bonvoy Brilliant
⛱️ Amex Platinum | Amex Bonvoy Brilliant
Thread Information
There is currently 1 user viewing this thread. (0 members and 1 guest)