Went Quadruple Platinum, Temp AmEx Card Issued Instantly!

Looks like AmEx is finally getting their shit together! It was always the gripe of many AmEx Platinum applicants overseas that this card, with all of the best intentions to expedite, would take over a month to get to an APO/FPO address. This is mainly due to a robotic system that sends it via FedEx or UPS  which cannot ship to APO/FPO. Only USPS can send to these remote PSC locations, so the card would get retuned, and for security a new card could not be issued for 2 weeks!

However upon approval today, I got to see the card in all of its virtual glory with text message verification. Not sure if this is for all future applications of all the AmEx cards. You only get 3 minutes on the site to see it before it disappears! This will allow me to make the $3,000 spend for the 40,000 MR points worth $500 (at 1.25 cents per point) even before the card arrives.

The application was really easy, I logged into Schwab and applied for the AmEx Platinum using the internal link under products. The link did not work before on account opening, but once they got their $10,000 the link sent me to AmEx for the standard application.

Now I have the Mercedes-Benz, Personal, Business, and Charles Schwab AmEx Platinum Card, each with $200 airline reimbursement as well as $1,825 in SCRA fee waivers. Is it time for an intervention?


9 thoughts on “Went Quadruple Platinum, Temp AmEx Card Issued Instantly!

  1. Joe says:

    Serious question. If Amex changes their policy on the SCRA fee waiver, like all other card issuers, will you feel any remorse for exploiting the system?

    • uiucderp2011 says:

      Joe, good question, and I am glad you asked. Consider that on paper the health of any bank or financial institution is based on how many accounts it adds and currently has. This looks good on annual reports and to the shareholders. Look at how Wells Fargo squeezed old people out of multiple accounts just to make the bank look healthy. I would say this is a more fair way to entice someone to open multiple accounts, rather than what Wells Fargo did without permission. We could see it in a way that we are mutually benefiting each other.

      Why in a free market those banks like Chase and Citi still have new account holders that are military and have no problem paying the annual fee? AmEx is free to waive or free to charge fees, and they have decided to waive in order to compel many of us in using their products, thus convince retailers to continue paying the transaction fees for taking AmEx cards. They make money on the retailer side in the form of 3%+ per transaction. This would be my guess of why AmEx has been so generous on their annual fee waivers. The active duty population are know to be diligent on keeping a good credit score to maintain security clearance, and have a very stable employer. These are all excellent attributes for a customer, but this ‘exploitation’ is not limitless. Sadly (or for very good reasons) AmEx only allows 5 cards in each category of Credit or Charge. I believe this last card put me in that max category.

      I am flattered that you think my one extra card will push AmEx into the Barclay or Citi category of revoking the fee waivers, but again no single raindrop blames itself for causing a flood. This site and myself have every reason to be responsible for its eventual demise. I have always considered what if this was a best kept secret that I just exposed to the world? When that time comes, when the SCRA goes away, I will feel a certain kind of remorse and certainly your question was the intervention I needed to consider again the possibility of slowing the churn game down.

      Certainly this has been the topic of r/churning, where the whole game has become too mainstream and we are all guilty of making it too popular. Most things have gone to private forums and I am always compelled in doing the same. I certainly don’t think this site needs to go this way, but as things become too common I end up being an ununique blog, then I may stick with talking about money management in general and less of these deals.


      • Dave says:

        But Derp,

        Your collection page lists the Plat, Biz Plat, MB Plat, PRG, BCP, and ERP. Adding the Schwab Plat makes 7 charge cards?

        • uiucderp2011 says:

          I have become the datapoint I want to see! Looks like they are treating the business and personal accounts separately. My wife Has the Personal, MB, and PRG as her charge cards 3 out of 5. I am not entirely sure if the Amex EveryDay Preferred Card is a credit card or charge card. I believe it is a credit card.

          I have the Personal, MB, PRG and Schwab, so I have 4 of 5. We each have the business so we got 4 more to go on that (BRG perhaps?) I will remain the AU just for ERP since I find that to be a pretty useless card and because on the personal credit card side, I am maxed out.

          On the credit card side I received a notice that I have maxed out on the credit products with my denied application for the Platinum Delta. I currently have the Gold Delta, Reserve Delta, HHonors, SPG, and my 10 year old BCP. That is 5 of 5 and a solid datapoint of the 5 card max.

          My wife has the SPG, Plat Delta, ERP so only 3 of 5! There was talk about the charge being only 4, but I have not hit that limit in any case.

          So I hope this datapoint is useful.


      • Joe says:

        Thanks for the insight, more info than I asked for. I like to see how people rationalize their decisions. You’re third paragraph is a bit off. I didn’t say you would be the cause of the shutdown. I have 2 platinum cards and will likely get the Schwab. When I open the Schwab I’ll use your link, which I suspect is the reason you’re giving advice in a public forum.

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