The Platinum Card from American Express for Goldman Sachs

[Preface] Although this card has been around for several years, we have never mentioned it. The main reason is that the prerequisite for applying for it is that you must have a Goldman Sachs account, otherwise you can't even see the application link, and you need to have $10M in assets to open an account. It is said that becoming an employee of Goldman Sachs can also open an account, which is a little easier than $10M in assets😂 But for ordinary people, this card is really impossible to apply for. If any friends have found a way for ordinary people to apply for this card, please be sure to let me know, there will be a big reward!

Application Link

There is no application link, invitation only. The prerequisite for applying for it is that you must have a Goldman Sachs account, otherwise you can't even see the application link, and you need to have $10M in assets to open an account. It is said that becoming an employee of Goldman Sachs can also open an account, which is a little easier than the $10M in assets 😂 But for the majority of ordinary people, this card is really impossible to apply for.

feature

Sign-up bonus: unknown.
The points earned from this card are Membership Rewards (MR). We estimate that the points are worth 1.6 cents/point. See below for a brief introduction.
Each year (card membership year), you can earn 40k MR points for spending $100,000 or more (i.e. the additional cash back ratio is only 0.4x MR).
Earn 5x MR points when booking flights on airline websites or AmEx travel, and 1x on other purchases.
Uber credit: $15 uber credit per month, $35 in December, totaling $200 per year. Unused credit will expire automatically.
Every year (Calendar Year), you can reimburse $200 for airline incidentals (such as baggage fees, Airport Lounge tickets, etc., excluding the air tickets themselves). Because this benefit is calculated based on the Calendar Year rather than the length of card holding, you can actually be reimbursed twice before the second year's annual fee is collected! Please note that this benefit is not automatically effective and requires Enroll yourself and specify the airline.
For details on how to obtain aviation reimbursement, please refer to the[Tips and Tricks] Tips on how to claim airfare on AmEx》.
Cardholders can enter the following Airport Lounges for free:
- Priority Pass Select (PPS),need Enroll yourself, a Priority Pass Select (PPS) card will be sent to the main cardholder and the supplementary cardholder separately, which allows the cardholder to bring 2 persons for free;
- Centurion Lounges, you can bring two companions in for free;
- Delta Sky Clubs, need to take the Delta flight of the same day, the companion is $29 per person;
- Airspace Lounges, you can bring two companions in for free.
Giveaway Marriott Bonvoy Gold Members, need to click This link to activate.
Giveaway Hilton Gold Members, need to click This link to activate.
To get free membership of Avis, Hertz, and National, click This link to activate.
This card can be reimbursed Global Entry ($100) or TSA Pre✓ ($85), up to $100. Global Entry is the fast track of US Customs, TSA Pre✓ is the fast security lane at US domestic airports. Only US citizens or green card holders can apply for them.
pass Fine Hotels & Resorts (FHR) If you book a high-end hotel, you can enjoy the elite member treatment of the hotel, such as upgraded room types, free Wi-Fi, free breakfast, etc., depending on the specific hotel.
Platinum Card Concierge Service: For lazy or busy people, you can use this service to book restaurants, etc. The service is said to be very powerful.
This card can be used AmEx OfferThere are often some good merchant discounts, such as Walmart $15 return $5, such as Amazon $75 return $25.
No Foreign Transaction Fee (FTF).
The main benefits of the supplementary card holders: free access to the airport lounges mentioned above, exclusive hotel membership, and the annual $200 air reimbursement limit shared by the primary and supplementary card holders.
The application is easy because strictly speaking it is a charge card rather than a credit card. Charge card means that you cannot just pay the minimum payment, but must pay off the full balance before each due date. Please note that there will also be a hard pull when applying for a charge card, just like a credit card.
Charge Cards have no pre-set spending limit.

shortcoming

Annual fee is $550. The first year annual fee is not waived.[Friendly reminder] The annual fees of all credit cards are not included in the card opening consumption task!
It costs money to add additional cards, $175 each.

Introduction to MR Points

The main credit cards that can earn MR points are:AmEx ED, AmEx EDP, AmEx Green, AmEx Gold, AmEx Platinum, AmEx Platinum for Schwab, AmEx Platinum for Morgan Stanley, AmEx Blue Business Plus, AmEx Business Green, AmEx Business Gold, AmEx Business Platinum etc.
The MR points accumulated from each MR card are automatically accumulated to the same MR account.
MR points never expire. Closing a card will not cause the MR points accumulated on that card to disappear, but if you close all MR cards, all MR points will disappear. In order to avoid the loss of MR points, it is recommended that you hold a no-annual-fee card for a long time. AmEx ED.
If you hold any MR card, you can convert MR into some airline miles. The most common and cost-effective way to use MR is to convert 1:1 into All Nippon Airways (ANA, NH) Miles (Star Alliance). Other recommended miles include: Air Canada(AC)(Star Alliance),Delta Air Lines(DL)(Trina),British Airways(BA)(Universe),Cathay Pacific Asia Miles(Universe),Singapore Airlines(SQ)(Star Alliance),Air France-KLM Flying Blue(Trina),Virgin Atlantic (VS)(Non-alliance) etc. If used this way, the points are worth about 1.6 cents/point.
Holders of any MR card can directly redeem points at a fixed value of about 1 cent/point on AmEx travel portal Book your flight online.
In holding AmEx Platinum for Schwab If you have the MR points card, you can redeem them at a fixed rate of 1.1 cents/point. If you don’t like to study miles, this is a good option. If you don’t have this card, you can only redeem MR points at a fixed rate of 0.6 cents/point.
In summary, we estimate the value of MR points to be approximately 1.6 cents/point.
For more information on the MR Points system, seeMaximize the value of your credit card points” (review) andHow to earn MR points》《MR Points Usage》(Super detailed).

Recommended application time

You can only get the sign-up bonus once in a lifetime, so be sure to wait until the highest offer in history appears before applying!
When you apply for a card, AmEx may pop up a window to inform you that you cannot get the sign-up bonus for this card because you have a bad relationship with AmEx. In this case, just use your existing AmEx card more often and try not to close it. It may be possible to wait for a while. For details, see "AmEx pop-up analysis》.
AmEx is not sensitive to the number of Hard Pulls.
You can apply if you have a credit history of more than six months.
The application interval between different versions of Platinum Cards cannot be less than 90 days, otherwise the application will be cancelled.

Summarize

Compared with other versions of the Platinum Card, this card has basically no unique advantages (except for the Goldman Sachs words on the card face for show), and adding an authorized card is more expensive. If you only hold it for one year, you can get 60k MR points (~$960), two airline fee reimbursements ($200*2) and $200 uber credit, and the price you pay is the first year's annual fee of $550. Therefore, the net benefit is about $1010! In order to avoid duplication of benefits, it is not recommended to apply for this card while holding a regular Platinum Card. The travel benefits of this card are well-known and powerful, but the daily cash back is not powerful. In general, it is not a card suitable for long-term holding. Note that this card has many benefits, and many of them need to be enrolled by yourself. Don't forget to enroll one by one after receiving the card! If you don't want to hold this card for a long time and you haven't used up all your MR points before closing the card, you can apply for a card with no annual fee. AmEx Everyday (ED) To preserve MR points for future redemption when needed.

To Do List after getting the Platinum Card

Platinum cards have many benefits, some of which need to be enrolled manually, so here is a to-do list after getting a new card to avoid missing out on benefits:

Enroll Aviation expenses reimbursement Benefits and specify airlines. You must enroll for this benefit and specify an airline in advance to receive air reimbursement.
Add your Platinum card to the Uber or UberEats app.
Enroll Saks Credit Welfare.
Enroll Priority Pass Select (PPS) Airport lounge benefits.
Enroll Marriott Bonvoy Gold Tier.
Enroll Hilton Gold Level.
Enroll Avis, Hertz and National Car rental membership level benefits.
Enroll Walmart+ Membership.
Apply Global Entry ($100 reimbursement) or TSA PreCheck ($85 reimbursement). Please note that only US citizens or green card holders can use this benefit.

Related credit cards

Note that although the following cards have similar card designs and benefits, they are different cards and do not affect each other's sign-up bonuses. This article.

Best downgrade option

This card cannot be downgraded to a no annual fee card, so it is recommended to close it directly if you don’t want to keep it.

After applying

AmEx application status check Click here.
AmEx reconsideration backdoor number: 877-399-3083. American Express actually protects its real backdoor very well. Generally speaking, when you call it, the customer service there will help you submit various requests. Unlike Chase, you cannot directly contact the person with decision-making power.

Sign-up bonus trend chart

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Application Link

There is no application link, invitation only. The prerequisite for applying for it is that you must have a Goldman Sachs account, otherwise you can't even see the application link, and you need to have $10M in assets to open an account. It is said that becoming an employee of Goldman Sachs can also open an account, which is a little easier than the $10M in assets 😂 But for the majority of ordinary people, this card is really impossible to apply for.