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Last year, the membership-based FoundersCard launched a new, exclusive way for cardholders to get status with American Airlines. And this year, cardholders are also eligible for a status challenge to the AAdvantage Platinum level. To complete the challenge, members will need to earn 12,500 elite-qualifying miles (EQMs) during a three-month trial period beginning in August. Those who meet the requirements will retain Platinum status through January 31, 2018.

Here are the complete details:

  • Enroll in the status challenge by 11:59pm CT (12:59am ET) on July 31, 2016
  • You’ll get AAdvantage Platinum status from August 22-November 22, 2016
  • To keep the Platinum status through January 31, 2018, you must be enrolled in American’s Business Extra Program and earn 12,500 EQMs during the three-month challenge period.

If you complete the challenge, you’ll have about 17 months with Platinum status and its benefits. From there, you can decide if you want to requalify for the status the old-fashioned way.

Enroll in this FoundersCard status challenge for Platinum status through January 31, 2018.
Enroll in this FoundersCard status challenge for Platinum status through January 31, 2018.

This is a great opportunity for you to get status. However, keep in mind that you must be a FoundersCard member to enroll. This promotion compares favorably to other, public status challenges with American. You can currently enroll in a public AA Platinum status challenge with the same EQM-earning requirements, except it’ll set you back $240. The benefit of this FoundersCard challenge is that there’s no fee to sign up if you’re already a member.

In conjunction with the status challenge offer, FoundersCard is offering TPG readers a discounted $395 annual membership fee and waiving the $95 membership initiation fee — use code FCPOINTSVIP at signup. Given the limited time to enroll in the status challenge (until July 31), and considering that TPG values AAdvantage Platinum status at $2,840, the membership cost is well worth it.

Unfortunately, if you already have Platinum or Executive Platinum status with AA through February 28, 2017 or later, you’re not eligible for this challenge. In addition, if you participated in a Platinum status challenge with FoundersCard in the past 12 months, you’re not eligible to sign up again. Finally, if you choose to enroll in this challenge, you won’t be able to enroll in another challenge through FoundersCard until after November 8, 2017.

Bottom Line

Although American just detailed the future of its AAdvantage program, including plans to move to a revenue-based earning system, there’s still reason to sign up for this FoundersCard status challenge if you’re at all interested in gaining AAdvantage Platinum status. If you’re able to successfully complete the challenge, you should get more than enough value out of your status to offset the cost of membership, and that’s without taking into consideration all of the other FoundersCard benefits.

Chase Sapphire Preferred® Card

Even after the introduction of the Chase Sapphire Reserve, the Chase Sapphire Preferred is still a fantastic choice if you want to avoid the Reserve’s $450 annual fee, earn 2x on all travel & dining and earn a 50,000 point sign up bonus.

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More Things to Know
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption - Kiplinger's Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards
Intro APR on Purchases
Regular APR
16.49% - 23.49% Variable
Annual Fee
Introductory Annual Fee of $0 the first year, then $95
Balance Transfer Fee
Recommended Credit
Excellent Credit

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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