I consistently find that the Chase Sapphire points are often more expensive to use than booking direct with hotels. I do sometimes find deals with Amex, but often it's about transferring the points around.
Couldn’t agree MORE. The AMEX Platinum is a JOKE. For a husband and wife to each hold the card (and thus gain the benefits of the ever-coveted Centurian lounge) it is over $900/ year. AND—the lounges are PACKED to the gills and are stuffy with too many people. NOT a $900 benefit/”luxury”.
Thank you for writing your widely read review of the ridiculousness of what is going on in credit card land – and from a financial planning perspective!
The Centurian lounges have become so frustrating. Waiting in line is not a premium experience, especially as they keep increasing prices. Then you've got to find a seat--good luck!
I appreciate your perspective, but I'm not sure I agree with the final numbers. When you break down the credits, the card's effective cost seems much lower.
The annual fee is $795, but almost everyone will use the $300 travel credit, bringing the cost down to $495.
The $150 dining credit is also easy to use, I assume. Assuming you use this twice a year, the effective card cost drops to $195.
Then there's the $10 monthly Lyft credit. Even if you don't use Lyft often, you could apply it to one ride every couple of months. Over a year, this could be worth around $60, bringing the effective cost down to $135.
Finally, the $300 StubHub credit is a big one. While you may not use the full amount on tickets you plan to attend, you could buy and resell same tickets, even at a 50% discount, to realize a value of around $150. This essentially makes the card cash positive.
As you mentioned, the other benefits are just an added bonus. It seems that with some strategic use, the card can easily pay for itself and then some.
This is an insightful response as well. Fair assessment. I believe the underlying issue is the "bait and switch" of superior rewards with very average rewards actually given.
I consistently find that the Chase Sapphire points are often more expensive to use than booking direct with hotels. I do sometimes find deals with Amex, but often it's about transferring the points around.
Couldn’t agree MORE. The AMEX Platinum is a JOKE. For a husband and wife to each hold the card (and thus gain the benefits of the ever-coveted Centurian lounge) it is over $900/ year. AND—the lounges are PACKED to the gills and are stuffy with too many people. NOT a $900 benefit/”luxury”.
Thank you for writing your widely read review of the ridiculousness of what is going on in credit card land – and from a financial planning perspective!
The Centurian lounges have become so frustrating. Waiting in line is not a premium experience, especially as they keep increasing prices. Then you've got to find a seat--good luck!
I appreciate your perspective, but I'm not sure I agree with the final numbers. When you break down the credits, the card's effective cost seems much lower.
The annual fee is $795, but almost everyone will use the $300 travel credit, bringing the cost down to $495.
The $150 dining credit is also easy to use, I assume. Assuming you use this twice a year, the effective card cost drops to $195.
Then there's the $10 monthly Lyft credit. Even if you don't use Lyft often, you could apply it to one ride every couple of months. Over a year, this could be worth around $60, bringing the effective cost down to $135.
Finally, the $300 StubHub credit is a big one. While you may not use the full amount on tickets you plan to attend, you could buy and resell same tickets, even at a 50% discount, to realize a value of around $150. This essentially makes the card cash positive.
As you mentioned, the other benefits are just an added bonus. It seems that with some strategic use, the card can easily pay for itself and then some.
This is an insightful response as well. Fair assessment. I believe the underlying issue is the "bait and switch" of superior rewards with very average rewards actually given.