How I Earned 125K Points by Upgrading From Amex Gold to Platinum

If you’ve been in the points and miles world for even a short amount of time, you’ve probably heard that the American Express^® Gold Card is one of the best card for everyday spending.

That’s not just hype. The Amex Gold card has been my go-to for years, earning 4x Membership Rewards points at restaurants worldwide (on up to $50,000 per calendar year, then 1x) and U.S. supermarkets (on up to $25,000 per year, then 1x).

It’s our household’s primary card for food-related spending. From family grocery runs to weekend dinners out, the Amex Gold card racks up points at an impressive rate on the things we regularly buy.

If I’m so happy with it, why would I upgrade the card? Keep reading to find out.

Scoring an Amex Platinum Card Upgrade Offer

I had the Platinum Card^® from American Express a couple of years ago, so I knew firsthand about the card’s many valuable benefits and perks (some require prior enrollment). I closed this card and applied for The Business Platinum Card^® from American Express once I became a small business owner.

However, I was surprised to see a generous upgrade offer from the Amex Gold card to the Amex Platinum card in my online account and email.

It’s important to know that American Express has a once-in-a-lifetime rule regarding welcome bonus offers. In other words, if you’ve previously received a welcome bonus offer on a particular American Express card, you’re ineligible to receive that same welcome bonus offer again for the rest of your life on that exact card product.

In reality, based on data from readers and the Upgraded Points team, it’s generally about 7 years before you qualify for another welcome offer if you’ve had the card within that time. Therefore, I knew that I wouldn’t technically be eligible for another Amex Platinum card welcome offer for at least another 5 years.

Imagine my surprise when I was targeted not only by an upgrade offer popping up directly when I logged into my Amex Gold card account, but also through a personalized email:

The upgrade offer was 125,000 Membership Rewards points after spending $6,000 within 6 months. This offer is among the highest I’ve ever seen, prompting me to quickly do some math to see if it made sense.

What Are 125,000 Amex Points Worth?

Let’s put those points into perspective. With the Amex Gold card, I can earn 80,000 points by spending $20,000 at U.S. supermarkets and restaurants worldwide.

However, this upgrade offer would give me 125,000 points in exchange for spending just $6,000 on all eligible purchases, which I was confident I could hit with some planned summer travel and bills.

Even better, I wouldn’t have to submit a new card application or endure a hard credit check on my report. I’d get to keep the same account number, and my years of credit history with the Amex Gold card would remain intact.

It seemed obvious to me, so I pulled the trigger and upgraded!

I tend to be conservative when estimating point values, but I value Membership Rewards points at around 2.2 cents per point, sometimes more when transferred to partners such as ANA Mileage Club, Air Canada Aeroplan, or Singapore KrisFlyer.

That means 125,000 points could be worth $2,500+ in travel if used strategically. This kind of bonus is a big deal for someone who enjoys leveraging award travel for international business class flights and high-end hotel stays.

Overview of Amex Platinum Card Perks

Of course, the Amex Platinum card is more than just a welcome bonus offer powerhouse. With a $895 annual fee (rates & fees), it’s one of the most benefit-heavy cards on the market. That can be either a blessing or a curse, depending on how you use it.

Here are a few perks I’m genuinely excited about and plan to maximize:

• Access to Centurion Lounges (in the U.S. and abroad), Escape Lounges – The Centurion Studio Partner, Plaza Premium Lounges, Airspace Lounge, Priority Pass lounges (upon enrollment), select Virgin Clubhouses, select Lufthansa lounges when flying with Lufthansa Group the same day, and 10 visits a year to Delta Sky Clubs when flying with Delta the same day (with the ability to unlock unlimited visits)
• Up to $200 airline incidental fee credit
• Up to $600 prepaid hotel credit (up to $300 semi-annually) on prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which require a 2-night minimum stay, through AmexTravel.com
• Up to $209 CLEAR^® Plus credit

While the Amex Platinum card offers many benefits (some require enrollment), I plan to focus on and maximize these. By being mindful of the others as well, I’ll easily get more value than the $895 annual fee I’m paying upfront after upgrading.

Treating the Amex Upgrade as a Test Drive

That said, I still love the Amex Gold card, and I didn’t take this upgrade lightly.

What made the decision easier is that a card upgrade doesn’t have to be permanent. If I find that after a year, the Amex Platinum card doesn’t suit my everyday lifestyle, I can always downgrade back to the Amex Gold card after a full year with the Amex Platinum card. After all, it only earns 1x at U.S. supermarkets and restaurants.

In the meantime, I’ll use my Chase Sapphire Preferred^® Card to earn 3x points on dining and online groceries. I can earn 3x points at supermarkets, no matter where I shop, even when I’m technically not grocery shopping online.

Final Thoughts

If you’re in a similar situation — happy with the Amex Gold card but receive a targeted upgrade offer to the Amex Platinum card — it’s worth crunching the numbers. Sometimes the right move isn’t about abandoning a favorite card, but temporarily switching gears to take advantage of a huge value opportunity.

In my case, the Amex Platinum card’s 125,000-point upgrade offer was far too valuable to ignore. Even though the Amex Gold card better fits my daily spending, this move made sense for me financially and strategically, and I’m excited to enjoy the perks of the Amex Platinum card (and the 125k points!) for the next year.

After all, flexibility matters most in the points and miles game. Sometimes, you don’t think you need a card until a valuable targeted offer makes you reconsider leaving your favorite one.