The Australian one keeps getting stuff stripped like annual AFR subscription. Nothing like US benefits and more than double the price. Typical Australia tax, I think the Qantas Amex or Explorer are better value especially since points were 3 per $1 now same as other cards at 2.25
I live in Europe my only go to card is my 28 degrees Platium saves me every time I dont have to worry about transferring money to my different accounts and no foreign fees
Thank you for the video. Correct me if I'm wrong but, as long as you plan to travel at least once and will spend 5000$ in the first 3 months, the card is worth it as you'll get 1000$ with the 200 000 points and 450$ credit for travelling. So that means : - it already paid for itself - you don't need to take extra travel insurance - you get all the perks (access to lounge, credit for 1 night hotel, 200+200 for restaurants as described in your video)
I got about $11,000 dollars worth of free shit out of mine last year, including a free 2500 dollar room upgrade at Four Seasons Sydney and return flights (economy) to NY. The FF programs are mostly shit, but that's because of people like Alan Joyce and airlines penalising customers for covid, we also have way less options in AU than overseas card holders who can redeem on better airlines. You forgot to mention the concierge - use them to get bookings literally anywhere, including on overseas websites that block Australian IPs and phone numbers.
The sign up bonus points will give you a one way business to europe. Which is worth about 6 or 7k. I'll let people out there figure out what program will do that.
I just got my a Amex platinum business card last week. Do you get points for paying on BPay? Eg strata and council fees? Would you personally use it if surcharge is 2% or 3% to earn points?
If you find a surcharge of 1.5% you can spend til your hearts desire. The flyer miles in return means you're getting an 80% discount on business class with some programs.
Its surprising how many merchants actually absorb the merchant fee. McDonalds, Woolies, Most petrol stations and especially PayPal, where you can throw most of your bills through!
missed out on the random 225000 😮points offer 😢 which popped up on my iPad but not on the pc I signed up on. Also so far the abroad dining offer does NOT include restaurants within Australia - only overseas. Only had mine one week so will see.
That’s unfortunate that you couldn’t get the higher sign up bonus! You might find my recent video talking about how to maximise value from the platinum card beneficial - th-cam.com/video/9vqJkWPzlm4/w-d-xo.html
@@raymondla boss man, I am trying to wrap my head around the 1. business card churning concept; What are the basic principles, tips and tricks? 2. should you cancel your cards? 3. What the hell is credit score? Thank you happy new year!!!
Hi Raymond! You've got some truly amazing content, keep up the good work! I am 32 and working as a consultant and my current projections are that I will be earnings in excess of 150k yearly (private funding commissions etc). Working on improving my credit score as I do not have any forms of debt would it be too risky to potentially try to get an AMEX credit card as my first card? Any recommendations or suggestions would be very much appreciated.
Hey mate appreciate that feedback. Don't think it's too risky at all to get an AMEX credit card as your first, although perhaps not the Platinum Card if you're not familiar with leveraging all the benefits. I'd highly recommend looking into the AMEX Explorer if you want to go down the route of AMEX as your first card. You get $400 travel credit which offsets the annual fee + you get a whole range of additional perks on top as well e.g. sign-up bonus, travel insurance etc. I made a full video talking about AMEX credit cards that you can check out here - th-cam.com/video/pYf6stHNA9o/w-d-xo.html
Hi Raymond!@@raymondla Reallyyyy appreciate your response! I will be taking a look at your referral/affiliate links and directly on AMEX to try to get the best bonus offer to receive my first credit card (AMEX Explorer). Just a quick enquiry as unsure if I need to wait 3 months or so as recently (last few weeks) purchased a vehicle in cash. Was going to do a 50/50 split between cash and loan but interest rates were not favourable nor the terms I wanted (early pay-out). Due to this I had a hard enquiry so my score has dropped from 745 (December) to 704 (January). Is it alright (from your vast credit card experience) if I proceed and apply for AMEX anyway or should I wait for my score to rebound in full? Thank you again and your latest video is exceptional too! I will see if eventually I get a churn card too hehe
I think for anyone enjoying an expensive lifestyle this is a decent card. If like most people you're in the more frugal or accumulation period of your wealth, I think the Kogan card is a much better card. Essentially a free Australian card with 1% back as credit. Much better when you're trying to limit spending.
I agree, if you're frugal and don't splash out then it's probably not the best card suited for your needs. The Kogan card is a solid option for those more of a no frills credit card for sure!
That's ridiculous. Look at the value of flight redemption you can get for the sign up bonus. Just that alone makes is an excellent card. They are giving away free money.
@@sal78sal There is no such thing as free money. I do agree that you have to spend the money to achieve the benefits, but if you put your standard monthly expenses through this card, you are going to reap the rewards. Also, who doesn't want to enjoy the "occasional" fancy trip away? I see a very affordable and fancy anniversary weekend away each year!
Hey Raymond, is the 100k salary eligibility criteria still there because as far as I know it used to be a criteria in 2021 but they have removed it from their website.
Hey mate, yes it indeed seems like AMEX has removed the salary requirements from the Platinum Card. I'd imagine that they are more focusing on a combination of your income + credit score + total credit limit to assess whether or not you'd be approved for the Platinum Card now.
It is actually not a great card for travel, due to the foreign transaction fees. Also you can also mention its various insurance benefits, incuding screen repair for smart phone.
Am I right in saying amex convert foreign currencies expenditure from the country you spent to USD( for a $% clip) then from USD to AUD ( for another $% clip) so you get hit twice for spending in other countries?
Just make sure you take up all of the offers each year. Dont forget about the Home Assistance and Road Side Assistance. Added benefits that dont cost anything until you need it, but cost 10X when you do.
That’s how someone gets sucked into the capitalist trap. They make you aspire for things you could do without and place your worth on your accumulation. This card only makes sense in the first year when you get those points. I have done the maths and unless you are travelling at least twice every month , you will actually make losses i.e. ‘ annual fee ‘ Things like free Accor brand membership is a perceived value - imagine not being tied to a specific brand. You could live in nicer Airbnbs and not just boring concrete and steel structures. Same for airport lounge access - while it is nice to avail unlimited food and drinks in an airport lounge - the novelty wears off. Ultimately you can only eat what’s healthy and until you are full . I appreciate your aspiration but I am coming from a point of ‘ been there done that ‘ and I am disillusioned now. Credit cards are a trap. Period
@@mayank.gaurav If you're spending 100k per year on stuff per year, this card will give you a free business class ticket one way to Europe. Thats not bad. Thats worth $6 or $7k. If you are worried about transition fees, and they can be 1.5%, on 100,000 spend thats $1,500. Thats a lot, but for that $1,500 you get a $6 - $7k business class ticket to Europe. Thats a massive saving on business class fares. I would pay $3,000 for a return business class ticket to europe all day long. this card allows it.
@@sal78sal 100k on stuff per year that’s pretty steep mate. Even someone earning 200k per year would struggle to spend 100k per year unless they are a shopping addict. Out of 200k the actual take home earnings would be about 130k(taxes , superannuation etc etc). So I would reiterate- if you are rich use credit cards by all means but if a card becomes an aspirational product - then you have played into the hands of the corporates cuz that’s exactly what they want. Not just credit cards but any luxury product - they are all selling an idea.
The Australian one keeps getting stuff stripped like annual AFR subscription. Nothing like US benefits and more than double the price. Typical Australia tax, I think the Qantas Amex or Explorer are better value especially since points were 3 per $1 now same as other cards at 2.25
I got approved even though I earned below 100k base but above 95k
I live in Europe my only go to card is my 28 degrees Platium saves me every time I dont have to worry about transferring money to my different accounts and no foreign fees
Not a credit card. It’s a charge card. Credit card has a revolve limit whereas the charge does not.
Getting into semantics. Charge cards are just types of credit cards. Sometimes they'll even set limits like normal credit cards
Also, he says it in the vid you fool
Really good insights. Can you make a video of other useful credit cards other than Amex t like St George and many more? in Australia?
Thanks for the video . I value Citi Prestige CC that also comes with PP membership and the 4th night free in hotel stay .
I've found that Citi Bank credit cards are actually getting really good with their offers!
Thank you for the video.
Correct me if I'm wrong but, as long as you plan to travel at least once and will spend 5000$ in the first 3 months, the card is worth it as you'll get 1000$ with the 200 000 points and 450$ credit for travelling.
So that means :
- it already paid for itself
- you don't need to take extra travel insurance
- you get all the perks (access to lounge, credit for 1 night hotel, 200+200 for restaurants as described in your video)
Correct as long as you leverage all of the benefits from the card, then this more than pays for the annual fee several times over!
I got about $11,000 dollars worth of free shit out of mine last year, including a free 2500 dollar room upgrade at Four Seasons Sydney and return flights (economy) to NY. The FF programs are mostly shit, but that's because of people like Alan Joyce and airlines penalising customers for covid, we also have way less options in AU than overseas card holders who can redeem on better airlines.
You forgot to mention the concierge - use them to get bookings literally anywhere, including on overseas websites that block Australian IPs and phone numbers.
The sign up bonus points will give you a one way business to europe. Which is worth about 6 or 7k. I'll let people out there figure out what program will do that.
I just got my a Amex platinum business card last week. Do you get points for paying on BPay? Eg strata and council fees? Would you personally use it if surcharge is 2% or 3% to earn points?
You can use your AMEX with either Sniip or Payment Logic to pay for bills
If you find a surcharge of 1.5% you can spend til your hearts desire. The flyer miles in return means you're getting an 80% discount on business class with some programs.
Its surprising how many merchants actually absorb the merchant fee. McDonalds, Woolies, Most petrol stations and especially PayPal, where you can throw most of your bills through!
I have this card but it’s not well accepted in Europe. I live in the US where AMEX is accepted everywhere.
Good as a charge card , specially when you travel and claim your work expense
Very true!
missed out on the random 225000 😮points offer 😢 which popped up on my iPad but not on the pc I signed up on. Also so far the abroad dining offer does NOT include restaurants within Australia - only overseas. Only had mine one week so will see.
That’s unfortunate that you couldn’t get the higher sign up bonus! You might find my recent video talking about how to maximise value from the platinum card beneficial - th-cam.com/video/9vqJkWPzlm4/w-d-xo.html
@@raymondla yes I watched it today! Thank you 😀 loving your investing playlist too thank you Raymond
i love your videos but do you have a tips and tricks video? if so will you make one?
Hey Quan, glad you're enjoying the video. What type of tips and tricks are you specifically after?
@@raymondla boss man, I am trying to wrap my head around the
1. business card churning concept;
What are the basic principles, tips and tricks?
2. should you cancel your cards?
3. What the hell is credit score?
Thank you happy new year!!!
Hi Raymond! You've got some truly amazing content, keep up the good work! I am 32 and working as a consultant and my current projections are that I will be earnings in excess of 150k yearly (private funding commissions etc). Working on improving my credit score as I do not have any forms of debt would it be too risky to potentially try to get an AMEX credit card as my first card? Any recommendations or suggestions would be very much appreciated.
Hey mate appreciate that feedback. Don't think it's too risky at all to get an AMEX credit card as your first, although perhaps not the Platinum Card if you're not familiar with leveraging all the benefits. I'd highly recommend looking into the AMEX Explorer if you want to go down the route of AMEX as your first card. You get $400 travel credit which offsets the annual fee + you get a whole range of additional perks on top as well e.g. sign-up bonus, travel insurance etc. I made a full video talking about AMEX credit cards that you can check out here - th-cam.com/video/pYf6stHNA9o/w-d-xo.html
Hi Raymond!@@raymondla
Reallyyyy appreciate your response! I will be taking a look at your referral/affiliate links and directly on AMEX to try to get the best bonus offer to receive my first credit card (AMEX Explorer).
Just a quick enquiry as unsure if I need to wait 3 months or so as recently (last few weeks) purchased a vehicle in cash. Was going to do a 50/50 split between cash and loan but interest rates were not favourable nor the terms I wanted (early pay-out). Due to this I had a hard enquiry so my score has dropped from 745 (December) to 704 (January).
Is it alright (from your vast credit card experience) if I proceed and apply for AMEX anyway or should I wait for my score to rebound in full?
Thank you again and your latest video is exceptional too!
I will see if eventually I get a churn card too hehe
Is there any restriction on the additional card holders in using the airport lounges when the main card holder is not travelling?
No restrictions at all, additional card holders get the same benefit as the main card holder!
@@raymondla Thanks for your reply!
Does getting this card affect home loan borrowing power
Yes it will unfortunately, banks will look at all of your debts including credit cards when assessing your borrowing power.
I think for anyone enjoying an expensive lifestyle this is a decent card.
If like most people you're in the more frugal or accumulation period of your wealth, I think the Kogan card is a much better card. Essentially a free Australian card with 1% back as credit. Much better when you're trying to limit spending.
I agree, if you're frugal and don't splash out then it's probably not the best card suited for your needs. The Kogan card is a solid option for those more of a no frills credit card for sure!
That's ridiculous. Look at the value of flight redemption you can get for the sign up bonus. Just that alone makes is an excellent card. They are giving away free money.
@@sal78sal There is no such thing as free money. I do agree that you have to spend the money to achieve the benefits, but if you put your standard monthly expenses through this card, you are going to reap the rewards. Also, who doesn't want to enjoy the "occasional" fancy trip away? I see a very affordable and fancy anniversary weekend away each year!
Amex does not offer bonus points if current members upgrade to this card, very disapointing.
I am a supplementary card holder through the company I work for. I wonder if this will label me as an "existing member"?
@@actualarthur no.
Hello Raymond, do many merchants still accept Amex in australia? I know a lot of businesses don’t even take it due to high fees. Thanks M8
Hey mate, I think these days more and more businesses accept AMEX (at least this has been my experience), however some still don't unfortunately
I think the free night from Accor is the third or fourth night
Incorrect. You can book a 1 night stay if you wish and it will be covered based on availability and meeting criteria.
Hi Raymond, I've seen that the Amex Platinum card offers 225,000 points for new customers. Do you think this is worth it?
Hey mate, this is definitely a very tempting sign up offer. If you think you can leverage all of the benefits than I'd say go for it!
Hey Raymond, is the 100k salary eligibility criteria still there because as far as I know it used to be a criteria in 2021 but they have removed it from their website.
Hey mate, yes it indeed seems like AMEX has removed the salary requirements from the Platinum Card. I'd imagine that they are more focusing on a combination of your income + credit score + total credit limit to assess whether or not you'd be approved for the Platinum Card now.
Just got approved on an income of $76000 within minutes
Got an offer of 325,000 points for signing up so I got it
Saw that offer as well, probably the best offer I've seen in a long time!
It is actually not a great card for travel, due to the foreign transaction fees.
Also you can also mention its various insurance benefits, incuding screen repair for smart phone.
I have this card, but didn’t know about the screen repair? How does that work? 😅
@@UmbrielliaMedia just purchase the phone or pay your phone plan using the card and you are covered.
Am I right in saying amex convert foreign currencies expenditure from the country you spent to USD( for a $% clip) then from USD to AUD ( for another $% clip) so you get hit twice for spending in other countries?
Should be just once. But I would still be using a 28 degrees card for international charges any day of the year.@@remingtonsteele3581
Value is better in the first year with the sign on bonus points, less so for subsequent years.
Yeah that is indeed the case, first year is always the best!
Just make sure you take up all of the offers each year. Dont forget about the Home Assistance and Road Side Assistance. Added benefits that dont cost anything until you need it, but cost 10X when you do.
@@actualarthur mine has no offer in relation to home/road asssistance. You might not be in Australia?
@@mrlqchen Read through the Amex Platinum Card insurance teams and conditions, section Q, R and S
@@actualarthur you are right sir! nice features and never knew they existed! Why no one is talking about these features?
Is Amex accept house rental ?
If you mean can you use your AMEX credit card to pay for your rent.. then no typically not
not really
It's one of my goals to achieve a CC of top tier quality like this.
Definitely a credit card to strive for if you can afford it and take advantage of all the extra benefits!
That’s how someone gets sucked into the capitalist trap.
They make you aspire for things you could do without and place your worth on your accumulation.
This card only makes sense in the first year when you get those points.
I have done the maths and unless you are travelling at least twice every month , you will actually make losses i.e. ‘ annual fee ‘
Things like free Accor brand membership is a perceived value - imagine not being tied to a specific brand. You could live in nicer Airbnbs and not just boring concrete and steel structures.
Same for airport lounge access - while it is nice to avail unlimited food and drinks in an airport lounge - the novelty wears off. Ultimately you can only eat what’s healthy and until you are full .
I appreciate your aspiration but I am coming from a point of ‘ been there done that ‘ and I am disillusioned now.
Credit cards are a trap. Period
@@mayank.gaurav If you're spending 100k per year on stuff per year, this card will give you a free business class ticket one way to Europe. Thats not bad. Thats worth $6 or $7k. If you are worried about transition fees, and they can be 1.5%, on 100,000 spend thats $1,500. Thats a lot, but for that $1,500 you get a $6 - $7k business class ticket to Europe. Thats a massive saving on business class fares. I would pay $3,000 for a return business class ticket to europe all day long. this card allows it.
@@sal78sal 100k on stuff per year that’s pretty steep mate. Even someone earning 200k per year would struggle to spend 100k per year unless they are a shopping addict.
Out of 200k the actual take home earnings would be about 130k(taxes , superannuation etc etc).
So I would reiterate- if you are rich use credit cards by all means but if a card becomes an aspirational product - then you have played into the hands of the corporates cuz that’s exactly what they want. Not just credit cards but any luxury product - they are all selling an idea.
@@mayank.gaurav Very good point. If youre not spending like mad this card offers less value.
Used it for 3 years, and i can confirm it's a scam.
Dude is cute as....😍
Dude has some nice screens too. Dig the left portrait setup.
can I transfer my amex points to qantas?
hey mate, unfortunately not as Qantas isn't one of AMEX's partner airlines.
@@raymondla Thanks Raymond :-) Good work on the channel.
On the Amex platinum description it says it can be transferred to Qantas
You can transfer it to Qantas Frequent Flyer
@@emotuy08 thanks mate
It is NOT a credit card.
Yes you are correct it is a charge card which I mentioned at the start of the video!
Did you know that this is also NOT a Diners Club card?
@@actualarthuri also want to remind everyone it’s not a union pay card either