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The Platinum Card® from American Express Exclusively for Morgan Stanley 80K points ⓘ Non-Affiliate 80K after $8K spend in first 6 months. Terms apply.$695 Annual Fee Click Here to Apply This is NOT an affiliate offer. We always present the best offer even when it means less revenue for Frequent Miler Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. Recent better offer: 125K points after 6k spend [Expired 11/8/23] FM Mini Review: In my opinion, this is the best of the consumer Amex Platinum cards when you need two cards thanks to Morgan Stanley offering one free authorized user. Unfortunately you do need to have a Morgan Stanley account to apply. Earning rate: ✦ 5X points for flights booked directly with airlines or with American Express Travel ✦ 5X prepaid hotels booked with American Express Travel Card Info: Amex Pay Over Time Card issued by Amex. This card has no foreign currency conversion fees. Big spend bonus: $500 after $100K cardmember year spend Noteworthy perks: This card includes all of the great perks that come with the American Express Platinum Card, plus: ✦ 1 Free Authorized User ✦ Redeem points for 1 cent each into your Morgage Stanley account ✦ $695 Annual Engagement Bonus for Platinum CashPlus accounts See also: Amex Platinum Guide Application Tips
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Morgan Stanley Plat down to 80K.
Thanks. Fixed.
With an Amex plat, no admission to Delta lounges if you’re flying basic economy. Must be booked in main or higher
I have had the Morgan Stanley version for some years and want to keep it for the Travel insurance including repatriation if needed.
I got the card by opening a Morgan Stanley brokerage account with $5000 (this is NOT self-directed and so they take a fee but the return has been not as terrible as I had expected. In addition I had to have a cash savings account with $25,000minimum that earns almost 0% interest to get them to refund my annual fee of $695 on the card.
Now that interest rates are substantially higher the opportunity cost is a lot more than the $695 annual fee.
Does anyone know if I can just close the Morgan Stanley accounts and invest the $30,000+ elsewhere and still keep the Amex Platinum card or will Amex close my account? I can now get $1500 interest (FDIC insured but taxable) for that amount of money.
BTW, the $695 refund from Morgan Stanley is now taxable as they are sending a 1099-OID since last year.
Any answers?
I don’t know the answer
You might want to try asking in our Frequent Miler Insiders Facebook group. I imagine someone there has been in this situation before.
Thanks Nick. I think I can safely reduce the Cah account to $1 and they will bill me $55 per month … still better than losing interest on $25,000.
Nick, I tried asking in the group today but my post was declined saying this was discussed recently. I did research the group before posting and couldn’t find it. Could you help? Thanks!
can’t you just close the cash savings account and keep the card open. you’d forfeit the engagement bonus but you’d also save on the account fees
I plan to keep the account open but with only a few $$ in it. We’ll see what Amex does.
I’m interested in this as well because I was planning on opening a MS account for 1 month just to apply for the card. Anyone knows if that would work?
I don’t know.
Bad news: The Morgan Stanley Engagement Bonus (refund of the $695 AMEX fee) is now taxable !!
So, keeping the $25,000 in the cash account with virtually zero interest and the $5,000+ in the access investing is now becoming less and less appealing. $25K invested in a savings account should get at least 3.5% (even Capital One is 3.3%).
Interestingly, the Access Investing where I expected to lose money is actually doing OK.
Seems like the 125k offer has expired.
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