When it comes to this hobby, my primary goal is to collect as many points/cash as I can at the lowest possible cost. Everything else is secondary. I do appreciate various perks (Priority Pass etc.), but they don’t determine which cards we apply for. I also believe in striking when the iron is hot. Being too timid and waiting for the perfect timing can be detrimental and cause you to miss out on hot deals. Obviously, this isn’t an advice for someone else, but the way I view this hobby based on my experience of missing out on various opportunities over the years.
It’s weird because my husband and I go for months getting nothing but rejections from banks, and then boom, we have several huge competing offers and can only choose one. That’s exactly what happened a few weeks ago. My husband got a pre-approved offer for personal version of Amex Platinum (175k points after spending $8k in 6 months, annual fee of $695 not waved). He also received an offer for personal Amex Gold (100k points after spending $6k in 6 months, annual fee of $325). He had both cards in the past, but neither offer contained “lifetime” language. Plus, based on my prior experience, receiving a pre-approved Amex offer with a unique code almost guarantees receiving the points.
I currently have Amex Gold and actually getting ready to cancel it in a month or two. As I’ve mentioned in this post, I can get close to $325 value out of that card, albeit with some work, which pretty much cancels out the fee. The same can not be said about Amex Platinum. I just don’t see how we can organically get $695 in value per year without some serious mental gymnastics and buying junk we don’t need.
A $50 credit from Saks? That will get you a few pairs of underwear if you are lucky. My underwear comes from China and costs $3 apiece. That’s me being fancy, as I used to pay $1. That Priority Pass benefit? Already have what I need from US Bank Altitude Reserve card. A monthly $20 credit on digital subscription on Disney +? I already get $7 credit from my Amex Blue Cash card, which mostly covers the basic subscription. On the other hand, we can upgrade to a no-ads plan, and that’s worth something.
The $200 yearly credit on Fine Hotels and Resorts could come in handy for a weekend getaway, though most places in Florida I’ve looked at cost $500 per night even during low season. Now Uber credit is different, as I can definitely utilize it each month. So that’s close to $200 I can knock off the fee right there. The $200 credit towards airline incidentals may come in handy as well. So, the way I look at it, I can probably get at least $300 in value without putting in too much work. If the stars align, I may end up getting the whole annual fee covered through various schemes and credits. If I’m lucky.
Why it doesn’t matter
I kept evaluating our situation, doing math, plus looking at hotels in Florida and trying to see if I can eke out $700 out of that huge fee. Excuse me, $695! Of course, Amex is counting on breakage and it’s my personal mission not to let them have it. And then it dawned on me that I’m missing the forest for the trees. Even if I end up losing $400 by not utilizing all the included perks, the extra 75k MR points (compared to Gold offer) would more than make up for it.
Yes, I would need to spend $2k more in 6 months compared to Gold, but again, the extra incentive is worth prepaying some bills. Speaking of, when I’ve mentioned that we are currently on a roll when it comes to credit card approvals, I meant it. In the last few months I got US Bank Altitude Reserve, Amex Hilton Aspire card and Amex Delta Gold cards.
I was working through all the minimum spending requirements and had a ways to go on several offers. And then we got these two other offers I’ve mentioned on top of that. I only had until April 1st to apply for either one. It won’t surprise you that I picked Amex Platinum and fortunately, my husband was approved.
I told him after the fact and he just raised his eyebrow when I mentioned the $695 annual fee. He then said he trusts my math skills, as always. I hope he is right.
“Help” with meeting minimum spending requirements arrives
I figured I had until the end of September to come up with a plan and possibly prepay a few bills. We have car and home insurance policies that both renew in June, so that should help significantly. But one thing I wasn’t counting on was my husband’s car breaking down and needing $3,500 worth of repairs. Yay?
When the manager from the dealership called, he asked me to sit down first. Never a good sign. But what can you do? We aren’t getting rid of the car, that’s for sure. There is a reason my late FIL (who was a mechanic) used to say that Ford stands for “fix or repair daily.” Truth. But at least we have extra Amex points to look forward to as a result of mediocre reliability.
Author: Leana
Leana is the founder of Miles For Family. She enjoys beach vacations and visiting her family in Europe. Originally from Belarus, Leana resides in central Florida with her husband and two children.
@Sebastian The “Disney Bundle” $84 annual credit is a free benefit of Blue Cash Everyday credit card. The only requirement is that subscription has to cost at least $12 per month. So essentially, we are paying $5 per month for something we would have regardless. I know it’s also a benefit on Blue Cash Preferred card, though the latter has a $95 annual fee. I don’t believe other Amex cards offer it, but I’m not 100% sure.
Hi there. Can you explain how are you getting a monthly credit on streaming subscriptions from the Amex Blue Cash card?
I have the Blue Business Plus card. I wonder if I can do that with that one.
@Aleks Yeah, I will definitely try to put $200 FHR credit to good use. One possible option is using it this year for one night in 2026, and then booking a second night next January when the credit resets. Our wedding anniversary is in September (low season in Florida), so I might be able to put together an inexpensive weekend getaway. Of course, a hurricane may ruin it, but that’s the way it goes sometimes. As far as prepaying taxes, I’ll likely end up doing that too.
A $200 credit on FHR might work for you in other places, there are good ones in a $150-300/nt. range around the world you can use credit for. The upside is that property gives you updated room and it’s own $100 F&B credit that can be used for dining. I’ve booked it couple of times in Europe and Asia (IC) with a small pay over $200 limit, and had pampered experiences.
Look into paying your property tax with credit card, sometimes it’s worth paying a fee to get a SUB. Some people prepay taxes but it might be more complicated paperwork.
Happy travels!!
@Harv Thanks! I meant to say the extra 75k MR points (compared to Gold offer). But I didn’t word it well, so will update.
Good anaylsis. (There is a typo “the 75k MR points would more than make up for it.” I think you meant to say 175k.