We may receive a commission when you use our links. Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. We appreciate you using our links!!!
Yesterday, Nick Reyes at FM spread the word that the waived fee American Express Platinum card branded for Ameriprise had changed. The new offer was akin to the non-branded Amex Platinum: 60k welcome bonus after $5k spend in 3 months and gone was the offer that waived the $550 annual fee. All other benefits remained the same. Personally, I like the new offer, but for the vast majority of people who heard the news…they were apoplectic.
I get why people are upset. For “Ameriprise” clients it was agreat way to make incredible use of the benefits without getting hit with a fee. I’ve written about these benefits and they are outstanding even when paying $550 a year for them. Some of my favorites…
- $200 Annual Uber Credit
- $200 Airline Incidental Credit
- Access to Amex Fine Hotels and Resorts
- Hilton Gold, Marriott Gold
- Priority Pass membership
- 5x on airfare purchased on Amex Travel or Directly with Airlines
- 5x FHR bookings ( prepaid)
- The list goes on and on
Having the ability to make use of these benefits without paying an annual fee is undoubtedly attractive. However… there are people like me. I already have an Amex Platinum, and a Business Platinum, so my wallet is pretty Platinum already and many of the benefits are redundant for me. I’d rather have the 60k after $5k bonus
I qualify because I’ve never had the card before
American Express enforces a once in a lifetime restriction on new cardmember sign up bonuses. However…just because I carry a personal Platinum card doesn’t mean I don’t qualify for the Ameriprise version – it is a different product and I should qualify if I chose to sign up.
In fact…I’m more likely to get it now than I would have before because it offers me something extra…a welcome bonus. I steered away from the Ameriprise Amex Platinum in the past purely because the added value wasn’t there.
The opportunity to earn more bonus points…
Furthermore…Ameriprise incentivizes spend with tiered bonuses: 5k after every $20k in annual spend up to 30k bonus points a year. I put most of my Air Travel on my current Amex Platinum because it earns 5x points on tickets booked via Amex Travel or airline’s websites.
If I spent $20k a year on my travel or even client’s travel and reimbursed myself, I would be earning 105k points or 5.25x on every dollar I spent for airfare. Quite attractive…
I know there is a collective sigh hitting the points and miles landscape right now, but for me and those in my situation…I welcome the change
Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers
A Monkey Miles favorite for beginners and point pros alike because it earns unlimited 1.5x Ultimate Rewards with no annual fee.
♥ Earn 20k Bonus Points or $200 after $500 Spend in 3 months
♥5x on travel purchased via Chase Travel
♥3x on dining and drugstores
♥1.5x on all purchases, unlimited