I save money by having this card. $1450 annual fee minus 450 travel credit, 400 dining credit, 400 Accor plus membership and the $80 Amazon prime leaves me out of pocket $120. I then save an extra $300 as I’m not buying apple care due the the phone screen insurance. I have also downgraded my $425 ANZ black to the $99 qantas card which saves me $325 a year. Don’t need 2 premium cards. This puts about $500 extra into my pocket. Mum has an additional card so she now has free travel insurance which will save her $250 a year. And also free lounge access. I estimate the benefits to myself having this card at around $800 a year. Maybe more if I use other benefits as Hilton Gold etc. saving money on free breakfast and upgrades. I’ll also explore the airplane benefits program next time I book a flight which will hopefully save me even more. Well worth holding this card which I intend to for as long as I’m travelling a few times a year.
And while it’s just a short mentions, the transfer to qantas is very powerful if want to use the Amex platinum to earn basically 1.125 qantas points per dollar after transitioning Amex points to qantas. and churn qantas points earning credit cards to cover your visa or Mastercard purchases where Amex not accepted
The biggest problem currently is the number of places it is useable is still quite limited compared to Visa / Mastercard. Customer service is amazing though.
It's definitely less of a problem than it was 5-6 years ago, but you're correct that some shops and businesses still don't accept it. But that's also why you carry at least 2 credit cards with you 😉
I thought this would be a problem here in Australia but 99% of the time my Amex is accepted and the times it’s not, it’s for amounts that you couldn’t care less
In your calculations, you forgot the value of the sign on value of the reward points. Those can easily be converted to Krisflyer miles and used to redeem business class flights. Another perk is getting a free supplementary card, and in turn another free Priority Pass membership. My Dad got free PP, and he uses the lounges way more than me, for free!
After much thought, you convinced me to get the more affordable Explorer Card as I wanted a credit, not charge card. Will reaccess the situation in a year.
Just another important thing to add which wasn't covered; so Amex Platinum have their own concierge service and if you book your flight through them, not through AMEX TRAVEL but concierge service ( you have to call them and speak to them), they have a special rate just for you. These rates are not available to the general public. I was looking at a ticket from Sydney to Paris, Business class with Qatar air way and it was $13K, through AMEX Platinum concierge travel service, my ticket was $10K. Boom, that's $3K saving, already covered your annual fee and benefiting. This card is not for budget savers but more on spending side but to get the benefit along the way. Little perks like Amazon prime etc. is nice but its really more than that which the card advertisement doesn't cover properly.
I have my platinum card for 14 months now and I’m definitely keeping it. I did apply for the HSBC SA card but the benefits are very limited. Already cancelled this one
I currently have the the Qantas American Express Ultimate Card, which has been great, however, I think I'm going to downgrade to the Essential and collect Amex points rather than QF points as they can be used on more airlines.
The other value is having the physical metal card, it’s just a thing of beauty and a shame we can’t get the art styles like the Americans do. I might look to upgrade from my explorer or just have both, if there’s a promotional offer and if definitely going to be doing more holidays and international at that. Otherwise the explorer is the best card on offer for earning points and the flight credit.
I think my use case is very similar to yours, so I'll be sticking to my Citi Prestige as that gives more value to me... unlimited lounge access is a huge deal to me as in most cases I have to take a hopping flight so card with limited e.g. 2x PP passes is not enough for my wife and I, and other than Amex Platinum no other card offers this benefit (although HSBC SA could also work).
You didn't include International Airline Program? not gonna fly in business at least once a year? And also the points you will earn over a year's spending, may also worth an upgrade from economy flight?
Hey Raymond - wondering if you know whether the $400 Global Dining Credit will be replaced with something of equal value from Jan 2025 onwards? It's due to expire soon for the AMEX Platinum.
The correct answer is: Churn cards with different providers every 18 months to get the sign on bonus points and then cancel. Much more value this way. The objective is to get points. The rest of the benefits are just value propositions.
@@raymondla I worded that wrong. Churn to a new card when you can but go back to the card you originally had and get the new sign up rewards again after 18 months since that is the time period you are considered a new user of their card. For instance, I'm going to kill my Amex since I'm going to be using the hsbc star alliance card. That gives me no yearly fee for a year and more points than amex. Wait 18 months, reapply for Amex and get the sign up bonus again for lots of points.
@@Maestro47 yep makes sense. Just be aware though that AMEX have been rejecting applications from people they view as credit card churners, even though they have no serviceability issues. I was thinking of doing what you suggested with AMEX but decided against it after hearing this from multiple people.
The business card has different benefits to the personal card so you'd have to reassess how much value you'd get. You'd also want to check that payments to suppliers accept AMEX.
I save money by having this card.
$1450 annual fee minus 450 travel credit, 400 dining credit, 400 Accor plus membership and the $80 Amazon prime leaves me out of pocket $120.
I then save an extra $300 as I’m not buying apple care due the the phone screen insurance. I have also downgraded my $425 ANZ black to the $99 qantas card which saves me $325 a year. Don’t need 2 premium cards. This puts about $500 extra into my pocket.
Mum has an additional card so she now has free travel insurance which will save her $250 a year. And also free lounge access.
I estimate the benefits to myself having this card at around $800 a year. Maybe more if I use other benefits as Hilton Gold etc. saving money on free breakfast and upgrades. I’ll also explore the airplane benefits program next time I book a flight which will hopefully save me even more.
Well worth holding this card which I intend to for as long as I’m travelling a few times a year.
What a nice bloke getting a card for his mum.
Also sounds handsome
And while it’s just a short mentions, the transfer to qantas is very powerful if want to use the Amex platinum to earn basically 1.125 qantas points per dollar after transitioning Amex points to qantas.
and churn qantas points earning credit cards to cover your visa or Mastercard purchases where Amex not accepted
The biggest problem currently is the number of places it is useable is still quite limited compared to Visa / Mastercard.
Customer service is amazing though.
It's definitely less of a problem than it was 5-6 years ago, but you're correct that some shops and businesses still don't accept it. But that's also why you carry at least 2 credit cards with you 😉
I thought this would be a problem here in Australia but 99% of the time my Amex is accepted and the times it’s not, it’s for amounts that you couldn’t care less
In your calculations, you forgot the value of the sign on value of the reward points. Those can easily be converted to Krisflyer miles and used to redeem business class flights.
Another perk is getting a free supplementary card, and in turn another free Priority Pass membership. My Dad got free PP, and he uses the lounges way more than me, for free!
Annual fee is 1450 not 1750
The Australian benefit also includes WSJ membership, nice surprise after I registered.
Oh that is good to know!
How do you access wsj? Enrolled in Australian but no seperate one for WSJ??
The Amex Platty is good if used correctly. But the Amex Gold is the workhorse especially with the dining
After much thought, you convinced me to get the more affordable Explorer Card as I wanted a credit, not charge card. Will reaccess the situation in a year.
I went with the explorer
It's an awesome card that I've been using for years now enjoy!
Just another important thing to add which wasn't covered; so Amex Platinum have their own concierge service and if you book your flight through them, not through AMEX TRAVEL but concierge service ( you have to call them and speak to them), they have a special rate just for you. These rates are not available to the general public. I was looking at a ticket from Sydney to Paris, Business class with Qatar air way and it was $13K, through AMEX Platinum concierge travel service, my ticket was $10K. Boom, that's $3K saving, already covered your annual fee and benefiting. This card is not for budget savers but more on spending side but to get the benefit along the way. Little perks like Amazon prime etc. is nice but its really more than that which the card advertisement doesn't cover properly.
I have my platinum card for 14 months now and I’m definitely keeping it. I did apply for the HSBC SA card but the benefits are very limited. Already cancelled this one
I currently have the the Qantas American Express Ultimate Card, which has been great, however, I think I'm going to downgrade to the Essential and collect Amex points rather than QF points as they can be used on more airlines.
Qantas has been a huge disappointment recently
The other value is having the physical metal card, it’s just a thing of beauty and a shame we can’t get the art styles like the Americans do.
I might look to upgrade from my explorer or just have both, if there’s a promotional offer and if definitely going to be doing more holidays and international at that.
Otherwise the explorer is the best card on offer for earning points and the flight credit.
At the very least the first year is worth it due to value of the bonus points?
I think my use case is very similar to yours, so I'll be sticking to my Citi Prestige as that gives more value to me... unlimited lounge access is a huge deal to me as in most cases I have to take a hopping flight so card with limited e.g. 2x PP passes is not enough for my wife and I, and other than Amex Platinum no other card offers this benefit (although HSBC SA could also work).
Citi Prestige is a solid card and a more affordable option to the Platinum!
Check 11:20. Thanks for the info
Brilliant! Thx
You didn't include International Airline Program? not gonna fly in business at least once a year? And also the points you will earn over a year's spending, may also worth an upgrade from economy flight?
Hey Raymond - wondering if you know whether the $400 Global Dining Credit will be replaced with something of equal value from Jan 2025 onwards? It's due to expire soon for the AMEX Platinum.
Not using Amazon prime is wild
Haha - I do use it here and there but definitely not every month. If I were to put a number I'd say I order around 3-4 times per year at most.
yes i do
The correct answer is:
Churn cards with different providers every 18 months to get the sign on bonus points and then cancel.
Much more value this way. The objective is to get points. The rest of the benefits are just value propositions.
I definitely agree that churning is the way to go! But only once every 18 months haha?
@@raymondla I worded that wrong. Churn to a new card when you can but go back to the card you originally had and get the new sign up rewards again after 18 months since that is the time period you are considered a new user of their card. For instance, I'm going to kill my Amex since I'm going to be using the hsbc star alliance card. That gives me no yearly fee for a year and more points than amex. Wait 18 months, reapply for Amex and get the sign up bonus again for lots of points.
@@Maestro47 yep makes sense. Just be aware though that AMEX have been rejecting applications from people they view as credit card churners, even though they have no serviceability issues. I was thinking of doing what you suggested with AMEX but decided against it after hearing this from multiple people.
thank you
You're welcome
Does it compare well with Qantas Premier Titanium card?
Mate you haven’t made video on paying rent by CC, is it worth it to pay 2% fees to earn points?
In my opinion it's neutral at best, I personally wouldn't pay for my rent using a cc.
i see that you dont think its very worth as a personal card. How do you reckon it would be as a business card?
The business card has different benefits to the personal card so you'd have to reassess how much value you'd get. You'd also want to check that payments to suppliers accept AMEX.
The main perk seems to be that you have the flexibility of switching your points to any frequent flyer program you want
I went with explorer
solid choice!
@@raymondla I couldn't justify the 1450