Here’s how I used the Amex Platinum in the last 9 Months—A success story?
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I wanted to share my experience with the Amex Platinum card over the past 8 and a half months and see if you all think I maximized its value. I would also love to hear how you use it.
Costs:
• Annual Fee: £650
• Pro-rated Refund: £185 (cancelled as I received a supplemental card from my partner)
• Net Cost: £465Benefits:
1. Membership Rewards (MR) Points:
• 75k Sign-Up Bonus
• 5k Bonus for issuing a supplemental card to my partner.
• 18k Points from referring my partner.
• 50k Points from a retention offer (I texted Amex, mentioned I was considering canceling, and they offered 50k points to retain me).
• 25k Points from everyday spending
• Total MR Points: 173k
Valuing each point conservatively at 1p (even though I got more value from flights), that’s £1,730 in points value.2. Statement Credits:
• £450 in restaurant credits (£300 domestic and £150 abroad; only used the abroad credit once). I value this at £450 as I would have gone to these restaurants anyway.
• £100 from Harvey Nichols, spent on diffusers I would have bought anyway. Valued at £100.3. Lounge Access:
• 9 trips in economy, multiplied by 2 (for me and my partner), equals 18 lounge visits.
• I value each lounge visit at £10 per person per trip, totaling £180.4. Refund Protection:
• Partner bought an item for £420, but only store credit was offered upon return. We raised a claim with Amex, and they issued a £300 credit with no questions asked and my partner retained the item.5. Hilton Status:
• We only used it once for a free breakfast, valued at £10 per person per day. For 3 days, that’s £60.6. Travel Insurance and Car Insurance:
• While these benefits were available, I didn’t end up using them, so I’ll value them at £0.Total Value Received:
• MR Points: £1,730
• Statement Credits: £550
• Lounge Access: £180
• Refund Protection: £300
• Hilton Status: £60
• Travel and Car Insurance: £0Total Benefits: £2,820
Net Gain:
• Subtracting the net cost of £465 from the total value of £2,820, I ended up with a net gain of £2,355.
What do you all think? Did I manage to maximize the value of the Amex Platinum, or is there something I missed? I’d love to hear your thoughts and tips. Also, if you’ve had experiences with the card, feel free to share how you’ve used it and what value you’ve gotten from it. Let’s compare notes and see how we can all get the most out of these benefits!
Wouldn’t it be £150 domestic dining credit as opposed to £300?
Hey Jamz. I got the card in late November 2023 so managed to use the credit in December 2023 amd then again in March 2024. The benefit refreshes every calendar year.
It’s not a race but as long as you are happy, that’s all that matters.
@Andre182 that’s a great summary and is the sort of thing that I really valued on here when I was starting out in the points game. You could argue that you should omit the points earned on regular spend (as you could get these or at least the equivalent cash back on an alternative / free card) and also the insurance / credit should have been possible on any credit card. However, even allowing for those adjustments, overall you’re about £2k in benefits ahead so I’d say you’ve ‘played a blinder’😎 Well done!
As the thread title suggests, a “success story” for you, but pretty terrible for Amex, actually quite embarrassing for them, highlighting the absurdity of their UK ‘strategy’, so maybe best not to shout about it from the rooftops.
Don’t mention fight club!
It’s not a race but as long as you are happy, that’s all that matters.
This.
I would have a much different estimation of the value extracted (e.g., I would almost never pay for lounge access and, except for Japan, don’t think much of the available dining options), but it doesn’t really matter as long as the numbers add up for you.
@JDB I actually think no.4 is fraud because they kept the item. And then people wonder why their accounts are shut down somewhere down the line for apparently no reason…
Meta, how is it fraud when Amex themselves told us we could keep the item?
It’s not a race but as long as you are happy, that’s all that matters.
This.
I would have a much different estimation of the value extracted (e.g., I would almost never pay for lounge access and, except for Japan, don’t think much of the available dining options), but it doesn’t really matter as long as the numbers add up for you.
Thanks for the feedback! I agree it’s not a race. The value depends on how the card fits your lifestyle. I valued lounge access at £10 per person because that’s what we’d typically spend at the airport without it, even though the actual entrance fee, like at the Aspire Lounge in T5, is around £40 per person.
@JDB I actually think no.4 is fraud because they kept the item. And then people wonder why their accounts are shut down somewhere down the line for apparently no reason…
Re-replying as not sure how to tag you: I appreciate your concern, but I want to clarify that it’s not fraud at all. We contacted Amex about the situation, and they specifically told us we could keep the item while still issuing the refund. We were transparent with them, explaining that we wouldn’t have pursued the claim if we had to forgo the item, since it was worth £420 and the refund was only £300—essentially, we would have been losing £120. Amex assured us that we could keep the item and still receive the credit. We wouldn’t have gone through with the claim otherwise; we’d much rather keep the item than lose money. Everything was done with Amex’s full knowledge and approval.
We’ve had similar value success (albeit no refund protection or insurance claims).
Big ticket success for us has included supplementary card holder also getting lounge access including a guest, thereby getting us as a family of four in to lounges on many occasions.
Melia Gold 20% discount has also benefitted us significantly in cash savings from sunshine hols, and I’ve checked hotel pricing almost daily on Melia and other sites to ensure I was getting genuine value from my bookings.
Tbh it’s the “just one more trip around the corner, let’s retain the card for another lounge visit” which keeps me from cancelling it. And then come Jan 1 or July 1 the HN credit re-starts etc.
As the thread title suggests, a “success story” for you, but pretty terrible for Amex, actually quite embarrassing for them, highlighting the absurdity of their UK ‘strategy’, so maybe best not to shout about it from the rooftops.
Appreciate your perspective, but I don’t see why not shout it from the rooftops. Unless I’m missing something. When I was first looking into credit card rewards and points, reading about others’ experiences was incredibly helpful. Sharing stories like this helps others understand how to make the most of the benefits available to them. It’s not about exploiting the system, it’s about being informed and strategic. If this information can help others do the same, then I think it’s definitely worth sharing.
We’ve had similar value success (albeit no refund protection or insurance claims).
Big ticket success for us has included supplementary card holder also getting lounge access including a guest, thereby getting us as a family of four in to lounges on many occasions.
Melia Gold 20% discount has also benefitted us significantly in cash savings from sunshine hols, and I’ve checked hotel pricing almost daily on Melia and other sites to ensure I was getting genuine value from my bookings.
Tbh it’s the “just one more trip around the corner, let’s retain the card for another lounge visit” which keeps me from cancelling it. And then come Jan 1 or July 1 the HN credit re-starts etc.
Thanks for your insights. I will definitely look into Melia Gold!
@Andre182 – the reason that it shouldn’t be shouted from the rooftops, is that the story just invites Amex to change their policies. Not just your story, but it’s a cumulative thing. Personally, I would be a bit embarrassed as I’m not sure why anyone would think it’s clever since it’s pretty easy and it is hardly unusual, but the story, as told/posted, has a certain smugness. It’s certainly rather expedient. Taking the 50,000 MR retention bonus and still cancelling doesn’t really cast anyone in a good light. Not unlawful, but not very moral either. Other cardholders have to bear the cost of what you received.
If your story had been, I’m new to this Platinum game, but I think it’s a great card that has been very lucrative so far and set out those sums, so I’m going to keep it, it might have come across better.
@Andre182 – the reason that it shouldn’t be shouted from the rooftops, is that the story just invites Amex to change their policies. Not just your story, but it’s a cumulative thing. Personally, I would be a bit embarrassed as I’m not sure why anyone would think it’s clever since it’s pretty easy and it is hardly unusual, but the story, as told/posted, has a certain smugness. It’s certainly rather expedient. Taking the 50,000 MR retention bonus and still cancelling doesn’t really cast anyone in a good light. Not unlawful, but not very moral either. Other cardholders have to bear the cost of what you received.
If your story had been, I’m new to this Platinum game, but I think it’s a great card that has been very lucrative so far and set out those sums, so I’m going to keep it, it might have come across better.
Hmm, I see things a bit differently. Let me explain. First, I understand the concern that sharing stories like mine might encourage Amex to change their policies, but why should others be denied the opportunity to benefit from the same perks? To me, this kind of thinking borders on gatekeeping. Sharing knowledge helps everyone make better decisions. If we all kept quiet, only a select few would benefit, and that doesn’t seem fair. I believe in leveling the playing field, not keeping secrets.
It’s interesting that you interpret the post as smug. I genuinely posted this to help others who might be starting out with credit card rewards, just like I was not too long ago. It’s a bit disheartening that the first assumption would be that it’s about showing off, but that’s a reflection of how one views the world. I might be naive, but I believe in sharing to help, not to brag.
Now, about the claim that other cardholders bear the cost of what I received, let’s break that down. Amex is a massive, highly profitable company that generates the bulk of its revenue from interest payments, transaction fees, and other charges. The idea that my benefits are somehow being paid for by other cardholders’ annual fees is a misunderstanding of how the credit card industry works. These perks aren’t funded by your or anyone else’s fees, they’re funded by Amex’s substantial profits, which come primarily from interest payments made by those who carry balances month to month, and from fees paid by merchants when we use our cards. If anything, these benefits are part of a strategy to keep cardholders like us engaged and spending, which ultimately increases Amex’s profits. The company isn’t losing out by offering these perks—they’re calculated incentives designed to ensure customer loyalty and attract new customers. The idea that someone else is directly paying for the perks I received sounds silly when you consider the broader business model. In reality, all cardholders, including those who don’t maximize benefits like I did, are part of a system that’s designed to be profitable for Amex. So, rather than seeing it as other cardholders bearing the cost, it’s more accurate to say we’re all participating in a system where Amex is the one coming out ahead, and it’s up to us to take advantage of what they offer.
My goal was to share what I experienced and learned during the time I had the card. The decision to cancel was part of that journey, based on my personal evaluation of value. That’s just one part of the experience, and I’m sure others will have different approaches. Ultimately, I think it’s important to see things from a perspective of sharing and learning rather than withholding or judging. We all have different ways of engaging with these systems, and I’m just sharing mine to help others navigate theirs.
Welcome to the forum & thanks for sharing your success! I see you’ve met JDB…
Welcome to the forum & thanks for sharing your success! I see you’ve met JDB…
Haha, thanks! You know, the tone of JDB’s message actually reminded me of another post I encountered, so I did a bit of digging. Sure enough, it turns out it was the same person! In that old post about refund protection, JDB responded to my partner buying a pair of sunglasses by saying, “The awful thing about the fools and their money being easily parted is that even at £440 you might be getting some pretty poor quality lenses that afford little protection for your eyes and that’s what ultimately matters (or ought to matter) vs strutting some tier 2 LVMH brand.” Calling my partner a fool for buying sunglasses… I couldn’t believe it when I found it—this was the only other time a comment made me lose a bit of hope in humanity.
JDB, let’s go for a beer my fellow aviation/credit card geek! 😀
This thread reminds me why I wouldn’t want to employ or do business with someone like the OP. Their ethics and morals are scraping the bottom of the barrel.
Posting this sort of thing is just gonna end up resulting in everyone else getting a worse product.
This thread reminds me why I wouldn’t want to employ or do business with someone like the OP. Their ethics and morals are scraping the bottom of the barrel.
Please feel free to enlighten us with your ethics course. I’m always open to learning different perspectives!
@Andre182 – once someone needs to call upon the size and profitability of Amex to justify such expediency, all credibility is lost.
As for the arrogance of suggesting you are teaching anyone anything, you’re having a laugh!
I don’t know if it’s relevant, and I don’t know how they measure it, but The Times had a front page article recently, suggesting that the % of people who lacked integrity in this country had risen from 13% to almost 20%. I try to speak for the 80% who tend to be a bit less noisy than the 20%.
Unfortunately @Andre182 hasn’t been in the game long enough to know how quickly things can get shut down when someone posts something on the forum.
@Andre182 – once someone needs to call upon the size and profitability of Amex to justify such expediency, all credibility is lost.
As for the arrogance of suggesting you are teaching anyone anything, you’re having a laugh!
I don’t know if it’s relevant, and I don’t know how they measure it, but The Times had a front page article recently, suggesting that the % of people who lacked integrity in this country had risen from 13% to almost 20%. I try to speak for the 80% who tend to be a bit less noisy than the 20%.
It’s quite interesting how you’ve chosen to assume complex character traits like a lack of integrity or arrogance from a single forum post. Let’s break down your response.
First, regarding the idea that mentioning Amex’s size and profitability somehow undermines credibility, I have to disagree. Discussing the business model of a company like Amex is entirely relevant when evaluating the benefits and costs associated with their products. Understanding how these benefits are funded is crucial to having an informed discussion. If pointing out that Amex is a highly profitable company undermines credibility in your eyes, then I’d argue that your approach lacks depth. Context matters, and understanding the broader picture is essential when discussing these topics.
As for the suggestion that I’m being arrogant by offering insights or “teaching” others, I find it ironic that you’re accusing me of arrogance while making sweeping generalisations about my character. My intent was to share my experience and what I’ve learned, in the hopes that it might help others who are navigating similar decisions. The fact that posts similar to mine have been valuable to others shows that sharing experiences can be helpful. If sharing knowledge and personal insights is considered arrogance in your book, then maybe we have very different definitions of what it means to contribute to a community.
And let’s talk about your mention of that article in The Times. While it’s a catchy statistic, it’s also a red herring in this discussion. Using a vague reference to a percentage of people who allegedly “lack integrity” in the country as a way to undermine my post is a deflection rather than a substantive argument. Assuming that my actions or intentions are unethical based on a forum post is not only baseless but also says more about your approach to dialogue than anything about me.
Lastly, the fact remains that if posts like mine provide value to even one person, which they clearly have, then that’s what matters to me. I’m here to share experiences, learn from others, and hopefully help people along the way (emphasis on hopefully so as to not be labelled as arrogant). If you see that as contributing to the noise, that’s your prerogative. But I’m going to keep sharing, because I believe that’s what these forums are about—helping and learning from each other.
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