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Anyone else has two Amex plat and why?
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If you value marginal points earning over things like work type, career development and salary progression then...sure?
Yeah I easily get ~$3-5k worth of cash value in points from being able to use my personal cards
Lol @SC1. It’s definitely more than $1k. More around $5k
Personally, what card I can use for business expenses is near the bottom of my importance list. Every other factor (brand image, work itself, team dynamic, growth opportunities, cash comp, retirement, health insurance) would rank higher.
I can't think of two firms that come out even on the above and I'd make a decision on the nuances of T&E policy
Don’t you also have to factor in the inconvenience of submitting receipts and the large amount of personal credit you are using that may impact your credit score?
P1, it takes less than 10 minutes each week to submit my expenses for a ton of points, totally worth it.
And impact to credit scores? Unlikely unless you have incredibly low credit limits. I would imagine that for upwards of 90 percent of us, this wouldn't be an issue.
Not many do, for a variety of reasons
SA1, good pojntt (I think I was assuming anyhow I would be in one role till promotion for a bit and work life balance and all factors were arbitrary)
Dude you’re valuing ~$1000 annual rewards over brand image, career development, and future exit opportunity?!
SC1, it is possible to have it all 😁 the annual rewards would be closer to several thousand dollars as well
All else equal I suppose
To clarify, doing simple math and assuming more general numbers. If 4k is spent monthly, I'll round off to 50k yearly.
Like this, 50k MR points with strictly Amex Green, is $500 on amex travel vs maybe $1k with transfer partners, on average.
With personal card, to use CSR as baseline without pure optimization, that would be 4.5% on 50k so $2,250 (assuming no transfer partners)
Going deeper, I like to credit card optimize, aka, a Hilton card, SPG card, IHG card, Airline specific card etc. This value easily, by far, hits towards 5k conservatively.
All being said, it's around $4.5k difference annually at minimum but more important to note it depends what this used for. I think it goes down to if I'm using this for personal future business meetings/flying people in (when not alt travel covered etc) it seems quite valuable to a degree to me at least. Thats why I was pondering on this.
Benefit: Lot more value for short and long term
'Disadvantage': No consolidation in one program like MR/UR/Cash back hence a lot of similar points in each siloed program (Aka, Hilton Honors Points, AA miles/Delta miles)
My strategy tbh, would be essentially using amex plat anyhow for flights and redeeming Amex offers to take advantage of certain deals (example, using current offer of spend $600+ on hotels in one transaction and get 10k MR) and then using hotel specific cards for their purposes.
Truthfully, it's around $10k in value and I enjoy doing it as a part of my daily life and it's more fun that a hassle, and so, combining everything, it's around $1k in travel expenses monthly which as consultants we may not take so much time off etc, aka, it's plenty when we do do those redemptions
PSA: Not counting using 200k MR for $15,000 first class flight as value from points because I would not do that with cash otherwise, just what I would spend.
Thanks for reading if you got this far :)
PwC 1, tbh, with so many cards, and on average each having a healthy line of credit, not an issue for me personally. I see what you mean about expensing etc, but it's easier than not- for example- using Amex Plat, Hilton and SPG, in theory you can have one login in amex to show all (I do separate so I get Amex offers for all cards individually in case I wanna double dip and all)
Its actually not bad the organization part, and credit utilization definitely depends individual to individual
I think the crux is don't move for points but same time, it just depends on the usefulness- I think at a consultant/associate level, it makes sense depending on the person, but married and kids etc, just depends if points act as a discount for family travel which can add up quick or if it's not worth the time to think about that aspect/angle when making more per say/doing more important things financially speaking, aside from the hobby aspect and caring about status etc