Since I’ve started this “game”, the American Express Platinum spending requirement has always been $1,000 in three months to get the sign-up bonus. According to MilesOpedia, that spending requirement is TRIPLING to $3,000 on March 23rd.
Right now, the promotion is 60,000 Membership Rewards (convertible 1:1 to Aeroplan) after spending $1,000 in three months. You also get two $200 travel credits, easily converted into cash. While the annual fee is $699, your effective fee is $299 after the travel credits – a phenomenal value for 60,000 points (worth conservatively $1,000). You also get complimentary lounge access, insurance, hotel status, etc.
American Express is starting to target churning activities – in the US, they directly came out and said so. It’s clear that the same phenomena is happening in Canada. An increase in spending requirements by three times is huge, and I wouldn’t be surprised if bonuses also come down at the same time. If you’d have difficulty spending $3,000 in three months, I’d recommend that you get this card now for the bonus while the spending requirement is low.
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