Apply for a AMEX Platinum Edge card NOW!

I finally got my plastics in the mail early this week, upon activation I was provided with a referral link to spread this love of awesome deals to all my friends.

So what is the big deal about this credit card? Prior to my obsession of raking in Krisflyer points from credit card reward systems I have always claim gift cards either to spend in Woolworths/Coles or Myer. When I applied for this card my main focus was still Krisflyer points, however after creating my login to AMEX membership rewards (AMEX MR) I have discovered that the cost of claiming retail gift cards on AMEX MR is so much cheaper!

I currently have a Citibank Signature card with no annual fees which I signed up during the "Friends and Family" promo and a Commonwealth Bank Diamond rewards card complimentary from my home loan package.

This AMEX Platinum Edge is only good for supermarket/liqour and servo usage. You get 3 points to the $1 for groceries and 2 points to the $1 for fuel. For everything else you only get 0.5 points to the $1 therefore I will be using my Citibank card instead.

I have created an excel to compare my strategy against the offering from other banks and so far the AMEX Plat Edge and Citi VISA has the best returns.

spreadsheet

I have based my reward earnings from my colleague's monthly expenditure each month. He uses an app to keep track of his expenses (all figures were rounded down for a conservative projection). He has a mortgage; a wife and 2 young kids. He also has 2 cars; a Hyundai Gets and Mazda 3. From his app the family spends $600 on groceries, $250 on fuel and $1000 on others. I have group utilities, internet, mobile, Netflix, car/home and health insurance under this category.

At the bottom of the table from the AMEX Plat Edge and Citi combo we can claim $300 gift card or 41100 KrisFlyer points annually. I am sure we all know how much you can buy with a $300 grocery or fuel card but do you know how far you can fly with 41100 KrisFlyer points?

For 40000 KrisFlyer points you can claim return flight from Perth to Bangkok! How awesome is that!!

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