Sense of Monthly Spend on Platinum Charge?

[Aussietraveller86]

Hi guys,

New here so please be patient with me.

I am looking to sign up for a Amex Platinum charge card and really like to make the most of it. I have read all the benefits so there are some interesting perks but still feels like spending the card will help with getting rewards to offset the annual fee.

Could I get a sense from the broader community on what their average MONTHLY spend is on the Platinum card is?

I'm hoping to put through $20K a month - is that on the lower end of the general user set?

High level numbers suggest $240K a year x 2.25 points = 500-600K points which would be at a rough value $2,500.

many thanks in advance.

 

[Stevo.1702]

Hi and welcome to AFF.
Plenty of knowledgeable people here so no doubt you will learn something (and hopefully teach us a thing or two also).

I don't have an AMEX platinum but have been looking at it over the last week or two myself.

In terms of straight MR earn I don't think this alone is a good reason to go for the card. e.g. AMEX explorer ($395 fee) would earn ~480k points with your example but you would spend $1k less in annual fees.

Things that make it stand apart in order to justify the higher fee: Hilton or Marriot Status (do you stay at either enough and not already have status?), Accor plus, Virgin lounge access (good if you don't fly J and don't have Gold status), do you pay for a 'The Australian' Subscription already?

I think the value of the card comes from the added benefits, not the increased MR earn. This card would work for well-heeled travelers with a 10k monthly spend rather than someone with little use of the travel benefits who spends 20k a month.

I think the card is good for me (<10k monthly spend) but I travel a lot and often in Y. I'm holding off for 1. my tavel to pick up again and 2. a good sign up bonus

Hope this helps a little.

 

[Big John]

I think the card is good for me (<10k monthly spend) but I travel a lot and often in Y. I'm holding off for 1. my tavel to pick up again and 2. a good sign up bonus

It was my understanding that the current sign up bonus for Amex Platinum is 200,000 MR points.

I actually thought this was quite a good offer already.

Unfortunately, I don't qualify for this offer

 

[Aussietraveller86]

Hi and welcome to AFF.
Plenty of knowledgeable people here so no doubt you will learn something (and hopefully teach us a thing or two also).

I don't have an AMEX platinum but have been looking at it over the last week or two myself.

In terms of straight MR earn I don't think this alone is a good reason to go for the card. e.g. AMEX explorer ($395 fee) would earn ~480k points with your example but you would spend $1k less in annual fees.

Things that make it stand apart in order to justify the higher fee: Hilton or Marriot Status (do you stay at either enough and not already have status?), Accor plus, Virgin lounge access (good if you don't fly J and don't have Gold status), do you pay for a 'The Australian' Subscription already?

I think the value of the card comes from the added benefits, not the increased MR earn. This card would work for well-heeled travelers with a 10k monthly spend rather than someone with little use of the travel benefits who spends 20k a month.

I think the card is good for me (<10k monthly spend) but I travel a lot and often in Y. I'm holding off for 1. my tavel to pick up again and 2. a good sign up bonus

Hope this helps a little.

thanks - aware of the travel benefits and I do spend a bit of time on the road!

I used to be a citibank prestige card holder and thought that was a really good card but they kept cutting their benefits and now won't discount their annual fee ($700) so hence why i'm looking at the Platinum charge card.

Appreciate your perspective!

 

[Stevo.1702]

It was my understanding that the current sign up bonus for Amex Platinum is 200,000 MR points.

I actually thought this was quite a good offer already.

Unfortunately, I don't qualify for this offer

You're right. 200k is quite good. I guess it shows just how good the recent explorer card promo was.

I can't quite justify it for my own circumstances at the moment but maybe some point next year.

 

[Matt_01]

@Aussietraveller86 welcome to AFF. I have held the AMEX Platinum Charge on and off over the years (20+). I cancelled my latest card in Jan 2020 as the cost did not out weight the benefit. I do still hold the companion CC and use it, it is no longer free but still earns at a similar rate and was a way of keeping my points balance alive. I suspect once regular travel is back on the cards I will go back to Platinum charge.

 

[Actos]

Welcome to AFF . To answer your question, I would say I probably spend on the lower end - roughly $15-20k a month personal spend, but that's shared between two people.

Should you want a really deep understanding of the card's perks (and limitation workarounds) beyond what's published, I would suggest keeping an eye on @sudoer's posts - an absolutely wealth of knowledge/troubleshooting for all things AMEX.

 

[Aussietraveller86]

Welcome to AFF . To answer your question, I would say I probably spend on the lower end - roughly $15-20k a month personal spend, but that's shared between two people.

Should you want a really deep understanding of the card's perks (and limitation workarounds) beyond what's published, I would suggest keeping an eye on @sudoer's posts - an absolutely wealth of knowledge/troubleshooting for all things AMEX.

thanks thats helpful.

I was trying to search for the data (basis of my initial post) but couldn't find any threads detailing average monthly / annual spend of the platinum charge cardholder. FWIW, I did find something relating to the U.S market but its way outdated now.

Appreciate your reply!

 

[bwup2]

thanks thats helpful.

I was trying to search for the data (basis of my initial post) but couldn't find any threads detailing average monthly / annual spend of the platinum charge cardholder. FWIW, I did find something relating to the U.S market but its way outdated now.

Appreciate your reply!

Hi, Hope you are doing well. I hold the card since 2018 (Yes I'm new to the card, and to here as well). I roughly spent around 100k per year in the first two years, looking at average 8k per month.

For the recent 12 month, I spent average 11k per month. FYI, there is a card called Centurion, which level is above than platinum. It asks for at least 10k per month spend for the invitation-only premium card. So if you're going to spend 20k per month, that would be the 'lower end of the general user set' for sure.

Also one more tip, I've seen many people signed up the card and spent a lot on the card during first few months and paid off them on the second day after received the statement, which attracted a financial check. I'm not say financial check is not good or you used the false information when applied for the card. It's just annoying when this happens or sometimes they even close your card without asking. It happened a few times in our forum based on my reading in last few days. Just be careful during the first (at least) 6 months with your spending speed. Don't go too rush, to prove your financial capablity and keep regular spending patten. Don't do anything far out of the book than gereral public (like casino hotel $3000 a night).

 

[Daver6]

I have this card as well as the QF Amex card. I vary where I put the spend through. I'm clearly on the much lower end of the general spend scale I think. There are months where under $1k goes through on the plat card.

As others have state, the major benefit isn't so much the earn rate, but the other benefits that come with the card. Recently, I've been making more use of the FHR program. The one big benefit with earning with this card is the ability to warehouse points with many good options for transferring those points to.

 

[Aussietraveller86]

Hi, Hope you are doing well. I hold the card since 2018 (Yes I'm new to the card, and to here as well). I roughly spent around 100k per year in the first two years, looking at average 8k per month.

For the recent 12 month, I spent average 11k per month. FYI, there is a card called Centurion, which level is above than platinum. It asks for at least 10k per month spend for the invitation-only premium card. So if you're going to spend 20k per month, that would be the 'lower end of the general user set' for sure.

Also one more tip, I've seen many people signed up the card and spent a lot on the card during first few months and paid off them on the second day after received the statement, which attracted a financial check. I'm not say financial check is not good or you used the false information when applied for the card. It's just annoying when this happens or sometimes they even close your card without asking. It happened a few times in our forum based on my reading in last few days. Just be careful during the first (at least) 6 months with your spending speed. Don't go too rush, to prove your financial capablity and keep regular spending patten. Don't do anything far out of the book than gereral public (like casino hotel $3000 a night).

thanks great insight.

 

[bwup2]

thanks great insight.

Sorry for my poor English.

I was saying 'that would NOT be the 'lower end of the general user set' for sure.'

You have a good night.

 

[Aussietraveller86]

Sorry for my poor English.

I was saying 'that would NOT be the 'lower end of the general user set' for sure.'

You have a good night.

no worries - thanks for clarifying.

Hopefully I can contribute something to the forum in due course. thanks again.

 

[Aussietraveller86]

thanks for everyone's help on this.

I just signed up for the card. See how we go