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 60,000 points after spending $5,000 on purchases in the first three months of account opening (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 $1,200 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.
Featured photo by Isabelle Raphael/The Points Guy.
For rates and fees of the Platinum Card, please click here.
- Earn up to 100,000 bonus miles and 20,000 Medallion® Qualification Miles (MQMs). Earn 80,000 bonus miles and 20,000 Medallion® Qualification Miles (MQMs) after you spend $5,000 in purchases on your new Card in your first 3 months. Plus, earn an additional 20,000 bonus miles after your first anniversary of Card Membership. Offer Expires 4/1/2020.
- New! With Status Boost™, earn 15,000 Medallion Qualification Miles (MQMs) after you spend $30,000 in purchases on your Card in a calendar year, up to four times per year getting you closer to Medallion Status. MQMs are used to determine Medallion Status and are different than miles you earn toward flights.
- New! Earn 3X Miles on Delta purchases.
- Earn 1X Mile on all other eligible purchases.
- Fee Credit for Global Entry or TSA Pre✓®.
- Complimentary access into the Delta SkyClubs® for you when traveling on a Delta flight.
- New! Enjoy complimentary access to The Centurion® Lounge when you book your Delta flight with your Reserve Card.
- Enjoy your first checked bag free and Main Cabin 1 Priority Boarding on Delta flights.
- No Foreign Transaction Fees.
- $550 annual fee.
- Terms Apply.
- See Rates & Fees