This is for Canadians only, the US numbers are different.
Well, American Express made some changes the last couple of weeks which are important to the whole “credit card game”
As of writing this, March 31, 2016 here are the changes.
Now, this isn’t really a game, you should never get credit cards if you are weak at managing money and can’t keep track of your finances.
We are talking some significant numbers here and most people will stop reading after they see the words “annual fee”
Please don’t get these cards if managing credit cards has been a problem in your past.
We only refer “friends” so if you are interested in these cards/bonuses send us an email and we can chat – Amex has strict rules on this.
So there are 2 Amex Platinum cards – Personal and Business.
A) Personal Card – Annual fee $699 – you get a $200 travel credit back per calendar year. So if you have it over 2 calendar years you would get 2 x $200 travel credits. Perhaps before a year was up when you may or may not cancel the card. That gives you $400 back on your $699 which really leaves you at a $299 cost. But, you do have to pay the $699 on the first statement.
Why would anyone pay $699 for a credit card? (and get $400 back)
I won’t even get into the perks of this cards – just the numbers.
Well, spend $1000 on it within 3 months and you’ll get 75,000 bonus points (MR points)
If that’s all you did, those 75,000 points are at the very least worth $750 in travel.
So…spend $699, get $400 back over the course of a year and then be rewarded with $750 in travel you book on your own on the card? At the very least you are up $451 in travel.
You might consider doing something else with those points (convert to airline or hotel points) where they are valued by experienced bloggers at about 2 cents each.
So that puts you at 75,000 points = $1500 value + $400 in travel credits – $699 fee.
A better way of looking at is you are up $1201 in travel.
If you can refer a friend to these cards you pick up 25,000 points per referral up to 225,000 points per calendar year. More free travel.
Here is a picture of their application for this card.
B) Business Card – Annual fee $399 – no travel credits on this one.
You may not run a business…but you may be a small business.
On this card you need to spend $5000 in 3 months to get the 75,000 points which would give you a total of 80,000 points.
So that puts you at 80,000 points = $1600 value – $399 fee = you are up $1201 in travel.
Same referral options.
Here is a picture for this card.
They really want your business and the customer service is excellent.
Here is our link to apply for either of those 2 cards – please just people we know.