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American Express Ameriprise Platinum Launches New Welcome Offer
Nick at Frequent Miler dropped some knowledge on us this morning and I have to say that I am pretty unhappy about it. I don’t think I am alone in this thinking but not everyone will agree. American Express offers a few different varieties of Platinum cards and the Ameriprise version was unique. It came with no welcome offer but the $550 annual fee was waived the first year. The new offer matches the Charles Schwab Platinum and regular Platinum’s public offer of 60K after $5,000 in spend within the first three months. Most of you will think that 60K is worth more than $550 so what is the problem?
So What Is The Problem?
My problem with the new offer lies in the other unique feature of the Ameriprise Platinum card. The Ameriprise Platinum version would allow you to add up to 3 authorized users for free the first year as well. Authorized users get all of the same lounge access that the main card carrier gets. If you had a group of 4 people that trusted each other then you could see what this means. You could have theoretically carried a Platinum card without a fee until the end of time.
The 100K Personal Platinum card offer is the white buffalo in this hobby. Everyone wants it and tries to get it early on. Once that is tackled you move onto the other flavors of the Platinum card. The Ameriprise version was my favorite of these other choices. You could still get the 2 airline incidentals when you were the main cardholder which was kind of like a $400 welcome offer without an annual fee. And when you were an authorized user you could get into Delta and Centurion lounges without any out of pocket cost. This also allowed my buddy, who I often travel with, to access the Delta lounge with me without having to pay the ridiculous $29 fee for guests.
Why You May Not Care
If you have never had the Ameriprise Platinum card before then this change could actually be a good thing. The welcome offer gives you more value than the old fee free offer did. It does not offer as much long term value that someone with friends would have had but it offers you more in the short term.
If you have been around for a while then this is a big blow. Another trick of the trade has been sent out to pasture. It is a sad day for me and 3 of my closest friends and family. And with me striking out on the Charles Schwab version I may be in for some Centurion Lounge-less trips in my future :(.
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.