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 30 Jun 2019.
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.
What if I applied under the old scheme?
AMEX has been offering The Platinum Charge card through the MGM scheme since January this year. But here’s some good news the AMEX team has told me: if you successfully referred someone to The Platinum Charge card, you’ll be retroactively awarded the additional 20K MR points. Expect these points to show up in your account in 8-10 weeks.
Similarly, if you were successfully referred by someone else to The Platinum Charge card, AMEX will award the additional 20K MR points provided you hit the $5K spend within 3 months of your approval. You should receive these points by the end of July.
This only applies for members who applied through the online MGM scheme- those who applied through agents are not eligible.
I’m very pleased that AMEX has chosen to do this. It’s mighty big of them, in my opinion.
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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