Jump to content

DPB

Get AMEX Business Platinum and cancel Business Gold, or get personal Platinum Card? ​

Recommended Posts

Posted (edited)
About four or five months ago I got an AMEX Business Gold Card and a personal Gold Card. At the time I thought this was the correct set of cards for me.
 
I don’t ever travel for business, so I chose the Business Gold Card because the 4x rewards points sounded far more appealing than the travel related perks of the Platinum Card. What I didn’t realize then was that the 4x rewards points were for only certain categories. And after analyzing my spending since I got the card I have found that less than 1% of my purchases qualify for the 4x categories.
 
For my personal card, I think that the Gold Card is still the correct choice. The extra rewards points and statement credits for things like groceries and dining make this card more appealing to me than the Platinum Card.
 
I am going to be traveling a bit more over the next few years. But it will all be personal, not business travel. So now some of the benefits of the Platinum Card are appealing to me.
 
I could use some advice on what to do.
 
AMEX has a 75,000 SUB for the Business Platinum right now - $20k spend in three months, which would easily be covered in one month. Also, 1.5 points for purchases over $5,000 would be very nice since a large percentage of my purchases would qualify. I could then use this card to book any personal travel and for access to lounges plus the other benefits that I want. Since I am the only employee of my business (everyone else I pay is a subcontractor) it would be easy enough to do the accounting. And I’d probably only do this for travel a few times per year.
 
It also seems to me that regardless of personal travel I should probably switch to the Business Platinum Card for the 1.5 points per dollar on large purchases.
 
Or would it be better to just get a personal Platinum Card for travel? I believe the current SUB is only 60,000 points. The AMEX website doesn’t show me, and only gives me the option to request an upgrade to the Platinum Card. If I end up going this route I’d like to wait until they offer a 100,000 point SUB again - assuming that is even an option. The downside is that I would lose out on the 4x categories that I currently get on my personal Gold Card.
 
Also, I vaguely remember reading here that AMEX doesn’t do a HP if you already have one of their cards. Is this true, or am I mistaken? I don’t really care if they do a HP, but not having another INQ would be preferable.
 
Thanks in advance for the help and advice.
Edited by DPB

Share this post


Link to post
Share on other sites

8 hours ago, DPB said:
About four or five months ago I got an AMEX Business Gold Card and a personal Gold Card. At the time I thought this was the correct set of cards for me.
 
I don’t ever travel for business, so I chose the Business Gold Card because the 4x rewards points sounded far more appealing than the travel related perks of the Platinum Card. What I didn’t realize then was that the 4x rewards points were for only certain categories. And after analyzing my spending since I got the card I have found that less than 1% of my purchases qualify for the 4x categories.
 
For my personal card, I think that the Gold Card is still the correct choice. The extra rewards points and statement credits for things like groceries and dining make this card more appealing to me than the Platinum Card.
 
I am going to be traveling a bit more over the next few years. But it will all be personal, not business travel. So now some of the benefits of the Platinum Card are appealing to me.
 
I could use some advice on what to do.
 
AMEX has a 75,000 SUB for the Business Platinum right now - $20k spend in three months, which would easily be covered in one month. Also, 1.5 points for purchases over $5,000 would be very nice since a large percentage of my purchases would qualify. I could then use this card to book any personal travel and for access to lounges plus the other benefits that I want. Since I am the only employee of my business (everyone else I pay is a subcontractor) it would be easy enough to do the accounting. And I’d probably only do this for travel a few times per year.
 
It also seems to me that regardless of personal travel I should probably switch to the Business Platinum Card for the 1.5 points per dollar on large purchases.
 
Or would it be better to just get a personal Platinum Card for travel? I believe the current SUB is only 60,000 points. The AMEX website doesn’t show me, and only gives me the option to request an upgrade to the Platinum Card. If I end up going this route I’d like to wait until they offer a 100,000 point SUB again - assuming that is even an option. The downside is that I would lose out on the 4x categories that I currently get on my personal Gold Card.
 
Also, I vaguely remember reading here that AMEX doesn’t do a HP if you already have one of their cards. Is this true, or am I mistaken? I don’t really care if they do a HP, but not having another INQ would be preferable.
 
Thanks in advance for the help and advice.

 

There's a lot to your query that I can't answer as I've never had the Platinum Card.  

 

I can say that my last AmEx app was a hard pull, but the several before that were not.  

 

I know that with the Platinum Card you can request a Gold Card for AUs. I wonder if you can't request one also for yourself.  I also wonder if the AU Gold Card has the rewards structure of the Platinum or of the Gold.  

Share this post


Link to post
Share on other sites
3 hours ago, PotO said:

 

There's a lot to your query that I can't answer as I've never had the Platinum Card.  

 

I can say that my last AmEx app was a hard pull, but the several before that were not.  

 

I know that with the Platinum Card you can request a Gold Card for AUs. I wonder if you can't request one also for yourself.  I also wonder if the AU Gold Card has the rewards structure of the Platinum or of the Gold.  

I checked the fine print on the terms of the Business Platinum Card. It says, “The annual fee for Additional Cards is $175 for up to 3 Additional Cards. The annual fee for the 4th or more Additional Cards is $175 for each Card. The annual fee for an Additional Gold Card is $0.”

 

But nowhere (at least that I can find) does it say if I could get the rewards offered by the Gold Card. Perhaps it’s worth a call to AMEX to find out. But my preference is still to upgrade the business card, which won’t get me the 4x categories that I get on my personal card. If I’m going to upgrade my personal card, I want to wait for another 100k or higher SUB offer. 

Share this post


Link to post
Share on other sites
11 hours ago, DPB said:

I checked the fine print on the terms of the Business Platinum Card. It says, “The annual fee for Additional Cards is $175 for up to 3 Additional Cards. The annual fee for the 4th or more Additional Cards is $175 for each Card. The annual fee for an Additional Gold Card is $0.”

 

But nowhere (at least that I can find) does it say if I could get the rewards offered by the Gold Card. Perhaps it’s worth a call to AMEX to find out. But my preference is still to upgrade the business card, which won’t get me the 4x categories that I get on my personal card. If I’m going to upgrade my personal card, I want to wait for another 100k or higher SUB offer. 

 

Yes, definitely get a good SUB!

Share this post


Link to post
Share on other sites

And Business Platinum it is.

 

I applied online and was instantly denied. My fault though. I’m an idiot and I let balances on my other cards report last month. Two of the cards had large purchases that made the UTIL a bit high (although PIF when statement was sent). I called and asked for a recon and they approved the app. And since I already have other AMEX cards they didn’t even do a HP! They are even overnighting the card to me. 

Share this post


Link to post
Share on other sites

True to their word, AMEX indeed overnighted the card. UPS alerted me to an incoming package on Friday. The card was delivered around 2pm today. Immediately activated it. Then charged $6,500 two minutes later. Then placed another order for $5,500. These were purchases that I had to make anyway, but I decided to wait for the new card. 1.5 points per dollar spent, plus I hit the first half of the SUB (50k points for $10k spend). 68k points in 30 minutes, not too bad. 

Now I have 89 days left to spend roughly $8k to get another 10k in bonus points. Chances are I’ll have that done towards the beginning of next week as I have another order that I need to place. 

I have a trip to Europe planned for later this year, so I’ll probbly go ahead and get Global Entry started this week since I have some free time. 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Today's Birthdays

    1. kingair312tu
      kingair312tu
      Age: 34
    2. ElsieReeks
      ElsieReeks
      Age: 34
  • Member Statistics

    • Total Members
      176,322
    • Most Online
      1,528

    Newest Member
    peggking
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines