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I think it more than pays for itself if you spend ~$70,000/year (on a points basis, not including the signing bonus and other rewards).
I have had a Amex card personal since I was 18. I really like their customer service and will always have one. Additionally the perks for the platinum pay off the fee 100%.
Yeah idk I really like it feel like it’s high value. Up to the card holder really. The amount you save from random incidental type stuff you get covered totally makes up for it. One time I lost my laptop on the train and they covered it. Another time my car got broken into and since I put the down payment on the car w my card they covered it.
Pro
A good approach is to have someone you’re close to refer you. You’ll get the signup bonus and they’ll get referral bonus; at the the top end of the range the points will pay the fee for a few years.
A lot of what people say “pays for itself” but that requires forced spending that actually does not really break even from a financial perspective.
But check the Morgan Stanley cash plus account, which has no fees and gives it for free (incl signing bonus). That’s how I got mine
Yes, 25K
I prefer the chase sapphire reserve over the platinum. They both have great perks but the deciding factor for me was what they count for travel points. The AMEX platinum is great if you travel via plane a lot, but the sapphire reserve is better if you travel in different ways (train, rental car, coach bus).
Totally agree with this. Example: I spend $400 monthly on a parking spot and it counts as travel on CSR.
Chief
I have the corporate version, which is only $550 and has some different benefits (though a lot of the core perks are the same). I treat it like a perks card, as there are better cards for earning and redeeming points (e.g., CSR).
If you fly a lot with Delta, and the airports you use have Sky Clubs, or you regularly fly from airports with Centurion Lounges, it’s quite valuable. If you rent cars, it’s nice to get status so you can avoid the lines and get better vehicles. Basically assess how many of the benefits you expect to use, and whether that makes the card pay for itself.
Ooo how can you say no to paying a company to charge you interest