If you’ve been thinking of pulling the trigger on the AMEX Platinum Charge card, here’s some good news: AMEX has doubled the number of points on offer under the MGM (member-get-member) scheme.
Here’s how the old and new MGM offers compare:
|Old MGM Offer||New MGM Offer|
|Referrer||20K MR points||40K MR points|
|Referee||20K MR points after spending $50 in 3 months||40K MR points after spending $5K in 3 months|
This upsized offer applies to referrals where the referee is approved before 31 Mar 2020.
Am I still eligible for the regular sign up bonus?
If you’ve been following the AMEX Platinum Charge card, you’ll know that it comes with a sign up offer of 75K bonus MR points when you spend $20K within the first 3 months of approval.
Applications through the MGM scheme will still be eligible for this sign up offer.
Even better, the $5K you spend will “double count” towards both offers. In other words, should I spend $20K within the first 3 months, I will get:
- 40K bonus MR points from the MGM offer
- 75K bonus MR points from the sign up bonus offer
- 25K base MR points from regular spending
Remember that AMEX Platinum Charge cardholders can convert MR points to miles at a preferential rate of 400 MR= 250 miles (it’s 450 MR= 250 miles for other AMEX MR members). This means you’re looking at a total haul of 87.5K miles for spending $20K, quite decent all things considered.
How much are the benefits of the AMEX Platinum Charge worth?
Valuation is subjective, but you can definitely earn back more than your annual fee through the various benefits of the AMEX Platinum Charge. I recently wrote an updated article listing out the benefits and how much I value them at- have a read below.
I’m also including a few links to resources you might find useful for the AMEX Platinum Charge:
- AMEX International Airline Program: Get discounts on SIA (and other) prmeium cabins
- AMEX Platinum Charge : Year in Review
- The coolest perk of the AMEX Platinum Charge? The little-discussed “one annual fee” policy
- 5 lesser-known benefits of the AMEX Platinum Charge card
- Unboxing the AMEX Platinum Charge, and four things to do after that
- How to book your AMEX Platinum Charge’s complimentary two night hotel stay
- Review: NOOK by Platinum
- Why I’m pulling the trigger on the AMEX Platinum Charge card
- Valuing the benefits of the AMEX Platinum Charge
Do familiarize yourselves with the T&C of the MGM program here. There aren’t any red flags as such, but you should note that if your referee subsequently cancels his/her approved card within 6 months, you both lose your gifts.
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