Some cardholders targeted with 25,000-point Amex Platinum upgrade offer
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Some American Express® Gold Cardholders are being targeted for a 25,000-point upgrade offer for The Platinum Card® from American Express after spending $2,000 in the first three months, according to Doctor of Credit.
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But is this upgrade offer something you should really consider?
If you’ve never had the Amex Platinum, you should strongly consider passing up this offer. American Express has a once-per-card-per-lifetime bonus restriction, which means you only get one chance to earn a sign-up bonus for each of Amex’s products. If you choose to upgrade using this bonus offer now, you’ll never be able to earn the bonus for the Amex Platinum ever again in the future.
Considering the Amex Platinum currently offers 75,000 Membership Rewards® Points after you spend $5,000 on purchases in your first 6 months of Card Membership (not to mention the 100,000 points after the same spending requirement you could get through a targeted Cardmatch offer, offer subject to change at any time), 25,000 points to upgrade is a low offer. Taking this upgrade offer could end with you leaving up to $1,500 in value on the table, according to TPG valuations.
The Amex Platinum is one of the top travel rewards credit cards, with a suite of luxury benefits and a high annual fee to match. Part of the appeal of the Amex Platinum comes in the form of the welcome bonus. The $1,500 value that you earn by hitting the bonus your first year helps take the sting out of the $550 annual fee (see rates and fees).
Related: Who should get the Amex Platinum?
However, there is one circumstance where taking this upgrade offer is a great option — if you’ve already had the Amex Platinum in the past.
For those who are now ineligible for the standard bonus, an opportunity to upgrade to the Amex Platinum for 25,000 points certain beats not getting any sort of bonus by applying outright. Of course, if you’re ineligible for the standard bonus, there’s no guarantee that this offer will be targeted to you. But if you do happen to be among those with the offer on their account, it could be worth considering.
Check out our Amex Platinum card review, or apply to earn 75,000 points after eligible spending.
Featured photo by Isabelle Raphael/The Points Guy.
For rates and fees of the Platinum Card, please click here.
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