Why I chose not to avail the 135k MR points offer to upgrade to AMEX platinum charge

[bikramnitj]

Overall lets admit in terms of rewards earning the platinum charge card is totally useless and reap in rewards even lower than an entry level card. So what do we get on this upgrade? - indirectly we are just buying 135k MR points.

So what am i doing instead?

My platinum travel is due for renewal, ill look in for a retention bonus. Heard they compensate with 10k points . I have also referred the same to my wife which has collectively given 30k bonus. (12k - wife, 8k me for ref and 10k retention) .. all that for a fees of ~10k incl gst( 4k for joining fees, 6k for renewal fees)

So in total i spend 4lakh each (including tax payments n nps thats Doable) , i get total 80k points benefit on two platinum travel . Platinum charge will give shit on that spend.

So the math says, 10k fees and 8 L spends gives us 110k MR points + two 10k taj vouchers, much better than paying 70k for 135k MR points


What i plan to do with MR points?
- convert them into marriott bonvoy for each of the accounts. Bonvoy allows points transfer so i can easily club benefits for both the cards.

What other cards I got in my portfolio - infinia/atlas/vistaras .. leverage them as well - infinia for smartbuy .. atlas n infinia for usual spends to balance between air tickets n accor .. vistara for nps/tax again

Apart from the above I do have other cards such as AU zenith , icici amazon, but rarely use them

Let me know if this makes sense or I am missing anything here.

 

[drsel]

Absolutely!
Platinum charge card is definitely not worth it, even for the first year.
And paying the second year fees would be even more ridiculous!

 

[helloworld]

sample reason: 135000 x 0.35 = 47,250 and lost 23,550 already which if need to recover have to spend 6.5L (huge! and not at all doable on AMEX cards).

well, thats sample reason.. anycase, it depends on MR value of that person who utilize them (if they ignore other benefits offered by that card, which infact selling point for that card).

Ex: 1 MR = 0.70p Marriott reward then will get 94,500 and gain 23,700 instantly by paying joining fee. Additionally get Marriott Gold, 20x rewards through accelerator, centurion lounges, invite-only experiences etc.

 

[nikhilk21]

Totally makes sense!

You can also call up Amex around the time of your Plat Travel renewal and request for a partial fee waiver or a spend based full fee waiver. This makes it even more better than the charge card

 

[ManojGowda]

Overall lets admit in terms of rewards earning the platinum charge card is totally useless and reap in rewards even lower than an entry level card. So what do we get on this upgrade? - indirectly we are just buying 135k MR points.

So what am i doing instead?

My platinum travel is due for renewal, ill look in for a retention bonus. Heard they compensate with 10k points . I have also referred the same to my wife which has collectively given 30k bonus. (12k - wife, 8k me) .. all that for a fees of ~10k incl gst( 4k for joining fees, 6k for renewal fees)

So in total you i spend 4lakh each (including tax payments n nps thats Doable) , i get total 80k points benefit on two platinum travel . Platinum charge will give shit on that spend.

So the math says, 10k fees and 8 L spends gives us 110k MR points + two 10k taj vouchers, much better than paying 70k for 115k MR points


What i plan to do with MR points?
- convert them into marriott bonvoy for each of the accounts. Bonvoy allows points transfer so i can easily club benefits for both the cards.

What other cards I got in my portfolio - infinia/atlas/vistaras .. leverage them as well - infinia for smartbuy .. atlas n infinia for usual spends to balance between air tickets n accor .. vistara for nps/tax again

Apart from the above I do have other cards such as AU zenith , icici amazon, but rarely use them

Let me know if this makes sense or I am missing anything here.

This comparison in terms of MRs makes complete sense but this isn't what Amex tries to sell with Platinum charge.
Its lifestyle they sell, the centurioun lounges, all the memberships and the conceirge.

 

[jk51]

A perspective here. Equally applicable for Platinum Charge just would require more no of stays.

Post in thread 'Amex Gold Charge Card annual renewal fee waiver'
https://www.technofino.in/community...d-annual-renewal-fee-waiver.24735/post-797271

 

[shubhamk]

This comparison in terms of MRs makes complete sense but this isn't what Amex tries to sell with Platinum charge.
Its lifestyle they sell, the centurioun lounges, all the memberships and the conceirge.

True. It’s my one card to do it all, obviously not be accepted everywhere but that’s with every Amex under the sun.

 

[Swastik]

This comparison in terms of MRs makes complete sense but this isn't what Amex tries to sell with Platinum charge.
Its lifestyle they sell, the centurioun lounges, all the memberships and the conceirge.

True. It’s my one card to do it all, obviously not be accepted everywhere but that’s with every Amex under the sun.

I was suppressing the urge to respond but after seeing you two, here it goes

I see a lot of people criticizing Plat Charge and calling it much worse then other cards when the fact is Plat Charge is in a league of its own and has no comparison with any other card, most people don't really understand this card

 

[drsel]

sample reason: 135000 x 0.35 = 47,250 and lost 23,550 already which if need to recover have to spend 6.5L (huge! and not at all doable on AMEX cards).

well, thats sample reason.. anycase, it depends on MR value of that person who utilize them (if they ignore other benefits offered by that card, which infact selling point for that card).

Even if you value the points at 40 paisa, then it's worth only 54000 so you have to lose 16800 (based on the old price 60000 + 10800 tax)

 

[bikramnitj]

Even if we talk about lifestyle benefits. Access to centurion lounges are also overrated IMHO, at times seen them over crowded. Bonvoy gold also doesnt insure free breakfast. One can always reap in more benefits through Accor plus membership along with points transfer from atlas

 

[rogerthat]

I was suppressing the urge to respond but after seeing you two, here it goes

I see a lot of people criticizing Plat Charge and calling it much worse then other cards when the fact is Plat Charge is in a league of its own and has no comparison with any other card, most people don't really understand this card

This is right. People don't really understand the Amex Plat charge. A majority of people on this forum are points / miles / cashback hunters and benefit maximisers. And none of these are Amex Plat Charge's target customers. Those people are in a different league. This card is for people who are so rich that they don't care about points, because collecting and redeeming and keeping track of it all isn't worth the hassle for them. They take it exactly for the un-hassle it offers. The coincerge, the lounges, the luxury benefits and tieups it offers. Not points. You might think that "isn't it's acceptability problem a hassle?" Well, the people this card is meant for those who usually only move in places where it's accepted.

I and you won't find it useful because it was not made for us. It's like how Moneyback would feel to an Infinia holder.

All this said, OPs strategy is spot on. I am going to do the same thing when my Play Travel comes up for renewal .

 

[Swastik]

This is right. People don't really understand the Amex Plat charge. A majority of people on this forum are points / miles / cashback hunters and benefit maximisers. And none of these are Amex Plat Charge's target customers. Those people are in a different league. This card is for people who are so rich that they don't care about points, because collecting and redeeming and keeping track of it all isn't worth the hassle for them. They take it exactly for the un-hassle it offers. The coincerge, the lounges, the luxury benefits and tieups it offers. Not points. You might think that "isn't it's acceptability problem a hassle?" Well, the people this card is meant for usually only move in places where it's accepted.

I and you won't find it useful because it was not made for us. It's like how Moneyback would feel to an Infinia holder.

All this said, OPs strategy is spot on. I am going to do the same thing when my Play Travel comes up for renewal .

Well said,
This card is more of an aspirational thing for me,
Too rich for my blood for now, but maybe someday

Ofcourse being a Plat Travel holder 2 yrs i couldn't agree more woth OPs logic here

*there are other retention offers then 10k points, i got 50% off straightaway on my renewal fee, no points spent, consider that option

 

[shashankrt]

This comparison in terms of MRs makes complete sense but this isn't what Amex tries to sell with Platinum charge.
Its lifestyle they sell, the centurioun lounges, all the memberships and the conceirge.

As a Plat charge card user and soon Ex user I can guarantee you that those memberships are not even 1/10th of what they advertise. Amex plat charge cards in India is completely useless. And India has only 2 centurion lounges which also often are crowded as they are small.
Concierge is one of the worst I have seen on any premium cards in India. Their turn around time is so slow that it makes its useless.

 

[shashankrt]

This is right. People don't really understand the Amex Plat charge. A majority of people on this forum are points / miles / cashback hunters and benefit maximisers. And none of these are Amex Plat Charge's target customers. Those people are in a different league. This card is for people who are so rich that they don't care about points, because collecting and redeeming and keeping track of it all isn't worth the hassle for them. They take it exactly for the un-hassle it offers. The coincerge, the lounges, the luxury benefits and tieups it offers. Not points. You might think that "isn't it's acceptability problem a hassle?" Well, the people this card is meant for usually only move in places where it's accepted.

I and you won't find it useful because it was not made for us. It's like how Moneyback would feel to an Infinia holder.

All this said, OPs strategy is spot on. I am going to do the same thing when my Play Travel comes up for renewal .

Well you cannot be more incorrect here. Compare Amex Plat India with what Amex Plat US and Europe cards offer. You will see that above is not true else Amex will not offer those benefits on international cards. Amex is ripping off Indian customers for plat charge. Also Plat charge is not exactly a super premium exclusive card abroad. Its just a normal premium card which offers and hence it offers more benefits that its fee abroad whereas it plays so called exclusivity card in India.

 

[sourpai]

Well said,
This card is more of an aspirational thing for me,
Too rich for my blood for now, but maybe someday

Ofcourse being a Plat Travel holder 2 yrs i couldn't agree more woth OPs logic here

*there are other retention offers then 10k points, i got 50% off straightaway on my renewal fee, no points spent, consider that option

Amex has done a fantastic job by marketing it as aspirational product. In fact it is aspirational product for people who cannot afford this card and are mostly the people who go for it ....

And rich people who are using it are usually the ones who are not into miles game and just use card for sake of it. Or are too lazy getting the other brilliant cards Indian ecosystem offers them... major contributing factor here is Amex is so easy to get compared to other super premium cards in India

There are no lifestyle benefits to be honest. Rich people would already have got Marriott Platinum / Accor Gold etc.... no need for this card. Many other benefits are only marketing gimmicks... infact you will find 95-98%+ people closing the card after one year. People who don't close the card after one year are simply ignorant .. or have business spends which Amex allows... or are influencers who rake in thousands of miles via referrals

US Amex plat charge is in a different league all together.

 

[Swastik]

Amex has done a fantastic job by marketing it as aspirational product. In fact it is aspirational product for people who cannot afford this card and are mostly the people who go for it ....

And rich people who are using it are usually the ones who are not into miles game and just use card for sake of it. Or are too lazy getting the other brilliant cards Indian ecosystem offers them... major contributing factor here is Amex is so easy to get compared to other super premium cards in India

There are no lifestyle benefits to be honest. Rich people would already have got Marriott Platinum / Accor Gold etc.... no need for this card. Many other benefits are only marketing gimmicks... infact you will find 95-98%+ people closing the card after one year. People who don't close the card after one year are simply ignorant .. or have business spends which Amex allows... or are influencers who rake in thousands of miles via referrals

US Amex plat charge is in a different league all together.

Alright let me give you my perspective of this card,
The only person i know who has this card for over 3 yrs now is one my dad's close friend from college days, IIT Roorkee Alumini, Ex civil Servent(IRS) and Currently CEO of a Logistics company, don't know his exactly renumeration but when i asked my mom few yrs back she told me around 20L/pm(+ stock options)
He lives in delhi, company is based out of Chennai ,parent company hq is in ludhiana and they have busniess interests in major ports and transport hubs, so he is on the road for over 20 days a month, flying busniess class and staying suits, he even flies international to places like Singapore, japan and south korea for work few times a year

Few reasons why he loves this card is :-
- no preset limit, so need to worry about spends or anything
- Centurion lounges much better then vanilla airport lounges
- he uses concierge as his personal assistant, to book flights and hotels, restaurant reservations and even gift deliveries
- he told us whenever he books personal trips with concierge he almost always gets upgrades and vip treatment in general, he had booked a base cat room without breakfast at Oberoi Calcutta with his wife for a few days to attend a wedding, he was upgraded to junior suit with executive lounge access and free breakfast, at Lalit and leela properties in goa and kerala he was upgraded to to superior cat room at higher floor with breakfast from base room without breakfast, just because he booked through concierge someone from Amex must have called up front office of these hotels to get him best possible treatment, and these are just few examples of the top of my head
- he buys health insurance through amex(from ICICI Lombard) and he told us how he got cashless treatment and prompt support when he had to get admitted in one of the big corporate hospitals in delhi

My point is you cannot really put a price tag on these things, no other card will get you these benefits,
Amex doesn't even have any official tie up with Oberoi, Lalit or Leela, yet he got preferential treatment anyhow
Oh Btw he also has an Infinia

 

[Swastik]

Amex has done a fantastic job by marketing it as aspirational product. In fact it is aspirational product for people who cannot afford this card and are mostly the people who go for it ....

And rich people who are using it are usually the ones who are not into miles game and just use card for sake of it. Or are too lazy getting the other brilliant cards Indian ecosystem offers them... major contributing factor here is Amex is so easy to get compared to other super premium cards in India

There are no lifestyle benefits to be honest. Rich people would already have got Marriott Platinum / Accor Gold etc.... no need for this card. Many other benefits are only marketing gimmicks... infact you will find 95-98%+ people closing the card after one year. People who don't close the card after one year are simply ignorant .. or have business spends which Amex allows... or are influencers who rake in thousands of miles via referrals

US Amex plat charge is in a different league all together.

I do agree that this card is not for majority of people,
Certainly not for me, for now, but maybe someday...

And i also agree that Plat card US ,Canada ,Australia and UK are better products in terms of returns, probably because of the overall economy of these countries, there are plenty of other 500 USD cards that can compete with Amex Plat such as Chase Saphire Reserve and Capital One Venture X

And i don't think Amex Plat India is supposed to be a card for rewards and returns, it's more of a lifestyle and convenience card for the upper class

I also agree that Amex gives plenty of useless hotel memberships with this card,
My uncle tells me that if Amex removes all the other hotel memberships and just give one top tier membership like marriot bonvoy platinum and one top tier airline membership like air india gold, and they open bigger, more centurion lounges in major hub airports like HYD, BLR, CCU, MAA etc,
He'll happily pay even 1L per yr for this card

 

[Swastik]

Amex has done a fantastic job by marketing it as aspirational product. In fact it is aspirational product for people who cannot afford this card and are mostly the people who go for it ....

And rich people who are using it are usually the ones who are not into miles game and just use card for sake of it. Or are too lazy getting the other brilliant cards Indian ecosystem offers them... major contributing factor here is Amex is so easy to get compared to other super premium cards in India

There are no lifestyle benefits to be honest. Rich people would already have got Marriott Platinum / Accor Gold etc.... no need for this card. Many other benefits are only marketing gimmicks... infact you will find 95-98%+ people closing the card after one year. People who don't close the card after one year are simply ignorant .. or have business spends which Amex allows... or are influencers who rake in thousands of miles via referrals

US Amex plat charge is in a different league all together.

And lastly as far as other cards are concerned let's take the top card in india right now which is Infinia,
The problem with HDFC is that they're extremely stingy and inconsistent with who gets their cards, there are plenty of people including fellow TFCians who more then deserve this card but HDFC won't give them, on the other hand there are plenty who got this card through ULIPs, relationship with branch employees, contacts or just downright bickering with grievance redressal email

Atleast with Amex they're equal for everyone and value spends and loyalty over trivial things
There's a member here who spends around 60L/yr on his Plat charge and manages to get 1.35L MRs every year,
My father's friend gets preferential treatment from concierge because he spends a lot with them on his card, and he doesn't even have to ask for anything they give it to him

All this and more is why i think this card is worth aspiring for,
If you've that kind of earning, spends and lifestyle, it's totally worth it

(Also I've been to Centurion DEL with him once, and it was amazing, Full menu, Table service, free flowing alcohol, prompt and courteous staff,
for someone who has seen plenty of miday meal scheme lounges at airports, this one just blew me away)

 

[bikramnitj]

And lastly as far as other cards are concerned let's take the top card in india right now which is Infinia,
The problem with HDFC is that they're extremely stingy and inconsistent with who gets their cards, there are plenty of people including fellow TFCians who more then deserve this card but HDFC won't give them, on the other hand there are plenty who got this card through ULIPs, relationship with branch employees, contacts or just downright bickering with grievance redressal email

Atleast with Amex they're equal for everyone and value spends and loyalty over trivial things
There's a member here who spends around 20L/yr on his Plat charge and manages to get 1.35L MRs every year,
My father's friend gets preferential treatment from concierge because he spends a lot with them on his card, and he doesn't even have to ask for anything they give it to him

All this and more is why i think this card is worth aspiring for,
If you've that kind of earning, spends and lifestyle, it's totally worth it

Sorry, this is not making sense. Are we saying that its difficult to acquire indian super premium cards like infinia, so one should aspire for amex platinum charge?

I could take that argument the otherway also that if a card is hard to acquire and has more demand, shouldn’t that should be the aspiring one? Additionally, with minumum 25 lakhs of income criteria for platinum charge also doesn’t make it targeted towards UHNI

 

[sourpai]

Sure bro.. if you are so convinced about this card then so be it! Kudos to Amex for this.

Lot of examples you gave really aren't worth the card, like base category room upgrades and all. You can easily get them if you are elite member. Lalit / Leela updates are also easy to get via status match these days. And if you are really rich, you will have a human EA to do all concierge things. Why depend on Amex for this?

As for argument on Infinia - It is the exclusivity and making it difficult to get is what is keeping the card alive. When everyone gets it, it won't be premium at all. See what happened with Magnus? It should be hard to get. Infinia is surviving via exclusivity and Amex is surviving via brilliant "marketing" and joining / renewal fees

P.S: member you mentioned spends 60L / year and gets 1.35 MR as renewal. I have read his posts. Again - this is best card if you have business spends