American Express has four different Platinum cards, all with a $695 annual fee. In this episode Greg and Nick not only help differentiate these Platinum cards from one another, they also pick out which one is best (or which is best for which kind of need.)
Watch the full episode here, or click the timestamps below to navigate directly to a specific part of the episode in YouTube.
Mailbag
(01:30) – Data point on calling for reconsideration for targeted 200K Amex business platinum card. Do people without business cards yet have better luck?
Crazy Thing
(03:14) – What crazy thing did Asiana do this week? Well…seems like their phone line goes to a very wrong recording.
Award Talk
(05:42) – Etihad is updating their loyalty program in June
Find out what other programs’ change and cancellation policies are.
Main Event: Which is the best [Amex] Platinum card?
(09:33) – American Express has 4 different Platinum cards (which have $695 annual fees)
Learn more about the American Express Business Platinum card.
Learn more about what we call the “vanilla” American Express Platinum card.
Learn more about the American Express Charles Schwab Platinum card.
Learn more about the American Express Morgan Stanley Platinum Card.
(13:30) – What do all the Platinum cards have in common
(13:50) – Find out what might count for the Airline Incidental Fee credit
(16:29) – What are some Business Platinum card features, unique to the business card?
(18:35) – What are some features that are unique to the consumer Platinum cards?
(23:18) – Is there anything that’s unique to the normal “vanilla” Platinum card?
(25:30) – Is there anything that’s unique to the Charles Schwab Platinum card?
(27:09) – Is there anything that’s unique to the Morgan Stanley Platinum card?
(31:45) – Which of these American Express Platinum cards is the best?
(35:41) – Greg’s final pick
(36:19) – Nick’s final pick
Question of the week
(40:03) – What can I do with leftover Qantas points?
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No mention of the bonus with $10 mill at Schwab?
I didn’t know about that! I see now that they give a $1,000 appreciation bonus in that case. Let’s hope we all qualify for that someday!
After listening to the episode, I googled about Amex Business Platinum, and it took me to a 190k offer after spending $15k in 3 months. Couldn’t believe it.
Thanks for the inspiration to apply! I have a lot to learn because it’s my first platinum card.
It is important to note that for the million in assets with Schwab, both negative and positive balances count. We used to have a mortgage with them (and as an investment customer, they gave the best rates). Overall even when we had a negative total balance with them ($700k mortgage plus $400k investments & checking, so -$300k), they still counted that as $1.1 million in assets and gave us the $200 off the Schwab platinum. And joint accounts count for full value for each person. Both P2 and I get $200 off our own card (they do not just look at 50% of the account).
That’s great to know, thanks!
Something almost never mentioned, but probably applies to WAY more people than the $100,000 spend on MS or $1,000,000 Schwab assets and the target audience for the platinum is the $150 corporate card personal card credit. If you have any amex corporate card it applies. It takes a couple months after renewal, but me and P2 get $150 off platinum and $100 off gold (even better % discount). So since my personal platinum is $545 and it has the ability to refer for sometimes great bonuses like the +5 grocery last year and +10 restaurant this year, I choose this one. I also do highly value the 35% back as I am flush with amex points and that’s solid value.
Good to know!
Does Goldman Sachs also have an Amex Platinum (that no one ever talks about)?
Not that I’m aware of