American Express AeroplanPlus Platinum 50,000 points, Should I or Shouldn’t I?
I have seen this promotion quite a few times, and I am thinking of applying for the card especially that I have a mortgage now so whether an extra credit card affects my score or not would not matter.
When you apply by April 2, 2013, earn up to 50,000 Bonus Aeroplan Miles. Receive 25,000 Bonus Miles after your first use of the Card, plus earn 25,000 bonus miles after you spend $1,000 in your first three months of Card membership.
Tempting as it seems it is the the $499 annual fee that stops me applying right away as I do no like paying annual fees. Period.
Of course, I could cancel before the end of the first year, and I would consider I have paid $499 for 50,000 miles.
I wonder what the fine print says about the card’s cancellation.
Apply, get approved, pay $499, get 50,000 miles, and cancel the card before the anniversary date. It seems too simple not to execute it. Am I missing out on something? Why doesn’t everyone do it? What’s the catch? Wouldn’t Amex lose money?
Twitter @curbexcitement
No catch*, except that I don’t think Aeroplan miles are worth a cent a point anymore!
You can try to cancel before the year is up to get some prorated refund of fee — my mom did this successfully.
*assuming the offer doesn’t have any additional strings from previous offers of 50K.
Agree with Michael – no catch. Amex definitely buy Aeroplan miles in bulk and at a nice discount. I suspect there is also a mix of factors here that makes the deal worth while for Amex.
Would think they are hoping people will forget to cancel the card for example, or maybe that people will actually like the card and not want to give it up… Probably happens more than active points and miles junkies who are strictly looking for value would think. Plus at the very least they get the transaction fees for the $1,000 you need to spend to make the full 50k bonus.
You can get 51k through refer a friend! Better than 50k public offer!
I think aero plan miles are still worthwhile to Europe as some locations are 90k and you get 2 stopovers. There are a number of airlines that u don’t have to pay fuel surcharges for.
I’m confused. Can you get the $499 back? If not I don’t think getting 1 Cent per mile is all that great unless you need a big chunk
Not so great when you are hit with massive fuel surcharges when redeeming those AP points.
@Jeff
How?
@Ryan from Ma
No, I don’t think you can get the $499 back. It is on your first statement.
@VM
It depends on the airline
http://theskepticaltraveler.boardingarea.com/2012/07/31/united-vs-air-canada-339-vs-908/
You can cancel within 60 days of opening the account for a full refund of any annual fee you paid. Just make sure u transfer the miles elsewhere so they can’t take them away. I’ve successfully done this with the Amex Platinum, BOA Hawaiian Airlines and BOH Hawaiian airlines within the last couple months. I cancelled my Amex after transferring the 100,000 points and cancelled the Hawaiian cards after successfully transferring the miles to Hilton Honors. All 3 refunds for annual fees were sent via check and they were full refunds. With all 3, I simply said I changed my mind and didn’t want the card. The key us do it within 60 days AND make sure whatever bonus points you received are transferred.Esp for bank point programs
if you think Aeroplan miles are not worth much, then you can transfer Aeroplan miles to USair (soon AA) via points.com for free @ 1191 Aeroplan=1000 USair.
Then you can cancel your card in less than 2 months for full refund, as suggested by David.
@ the skeptical traveller –
https://www.americanexpress.com/canada/en/mgm/mgmeeApplynow.cgi?mgmerCard=aeroPlanPlatinumCard&CPID&MGM_URN=AAAAEgIeHh8UCQ%3D%3D
I do get referral bonus.
The above link is a refer a friend AMEX offer. Canadian cardholders can “refer their friends.” Hope you’re my friend 🙂
@Jeff: nice deal!Are US residents eligible too?
@Flyer:
Well if you hold Canadian property and have an SIN…
@ the skeptical traveler yes, it depends on the route but if you live in Canada most of all the STAR airlines that fly to and from are on that Aeroplan fuel charge list except United & UsAirways)