To get an Amex Platinum retention offer, call the American Express retention department at 1 (800) 452-3945 and express your willingness to close your account unless certain concessions are made. A department representative may then propose some incentives in order to keep you as a customer. Possible Amex Platinum retention offers could include a statement credit or bonus points to offset the card’s $550 annual fee. American Express generally does not waive annual fees in their entirety, but any retention offer should help you recoup part of the cost.
Bear in mind that Amex Platinum retention offers are contingent on meeting certain conditions. This could be a minimum spending requirement or paying the annual fee and extending your membership for another year. Also, the type of offer you get, if any, will depend on your credit standing and account history, so make sure the Platinum card account is in good standing before calling. American Express will use a soft pull of your credit report, so there’s no effect on your credit score.
American Express Platinum card income requirements aren’t public knowledge, but applicants with an annual income of $100,000 and above tend to have the best odds of approval, according to anecdotal evidence. Some forums, however, report people getting the Platinum card with an annual salary of $40,000-$50,000.
Officially, Amex just requires that applicants demonstrate an ability to afford the card’s $550 annual fee and pay the entire balance in full, when applicable. Generally, the higher one’s annual income and the lower one’s debt, the better the chance of being approved. But in addition to the Amex Platinum card income requirements, American Express considers factors such as your credit score, payment history and debt-to-credit ratio, among others.… read full answer
The Platinum Card® from American Express gives you 5 Amex Platinum points per $1 spent on flights and hotels, plus 1 point per $1 on everything else. To qualify for this card’s 5 points per $1 bonus rewards rate, flights must be booked through the airline or Amex, and hotels must be booked through Amex. The Platinum Card® from American Express also has an initial bonus of 75,000 points for spending $5,000 in the first 6 months.… read full answer
There are lots of different ways to redeem your card’s points. You can use them to book travel through Amex, get gift cards or cash back, shop online, and even make charitable donations. The Platinum Card® from American Express points are worth 0.7 cents to 1 cent each in most cases.
Here’s how to redeem points:
Book travel through Amex. Just log in to your Amex account via the Amex travel portal, then search for the transportation and accommodations you want to book. When it comes time to check out, there will be an option to pay with points.
Transfer points. You can actually move your points at a 1:1 ratio to 18 airline and 3 hotel loyalty programs. To do so, log in to your Amex account and choose your loyalty program. Just keep in mind that you have to transfer in 1,000-point increments.
Get gift cards. Log in to Amex’s gift card reward page to make your selection. There are dozens to choose from, from restaurants and movie theaters to airlines and bookstores.
Donate. You can make a tax-deductible charitable donation with your rewards points by logging in at Amex’s Members Give page.
Pay for Uber. If you connect your card to your Uber account, you should see a “use points” option in your app.
Amazon Shop with Points. If you connect your Amex card to your Amazon account, you can use their Shop with Points system to spend points on merchandise. But you’ll only get 0.7 cents per point using this method.
Statement credit. You can use your points to pay for charges on your statement, at a rate of 0.6 cents per point, by logging in to your Amex account.
There are a few other ways to spend this card’s points. They’re worth 0.5 cents each toward Ticketmaster purchases and 0.7 cents each toward Rite Aid purchases, Bestbuy.com, Staples.com and a few other sites. Plus, you can use them at a rate of 1 cent each toward NYC Taxi rides.
Most people will probably spend the bulk of their points on travel, because this is a card marketed toward frequent travelers. But it’s nice to know there are lots of options. It’s best to redeem points often to minimize the chances that Amex devalues them by raising the amount you need for certain redemption options.
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