The Amex Platinum Delta card currently has a historic high offer of 70k bonus points. The offer ends on March 28, 2018.
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Amex Platinum Delta SkyMiles / Amex Platinum Delta Business SkyMiles Offer
Annual fee: $195, not waived
Signup bonus: 70k Delta Miles + 10k MQM's + $100 statement credit
Minimum spend = $3,000 in first 3 months
Earn 2x on Delta purchases
Earn 1x on everything else
First checked bag free
Zone 1 Priority boarding
No foreign transaction fees
You also receive an annual companion certificate each year upon renewal of your card.
Valuing Platinum Delta Bonus
Even though the $195 annual fee is not waived the first year, you're still getting positive expected value in the first year.
Bonus = 70k after $3,000 min spend
Value = 70k * 1.2 cents per point = $840 in value
Return on spend = $840 / $3,000 = 28%
When you factor in the annual fee:
Net Return on spend = ($840 - $195) / $3,000 = 21.5%
The $100 statement credit is valid on Delta purchases during the first three months of account opening only. Some data points have suggested that you can buy $50 Delta gift cards.
Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card.
You are still responsible for taxes and fees up to $75 for roundtrip flights. Baggage charges still apply.
Delta Airline Silver Status
For Silver status (the lowest tier), you need:
(a) fly 25k miles OR 30 segments
(b) Spend $3,000 on Delta flights OR spend $25,000 on Delta card
The alternative method to get Silver status is to use Miles Boost.
MQM Waiver = spend $x on Amex Delta card
With Miles Boost, you can earn 10,000 bonus miles and 10,00 MQMs after you spend $25,000 or more in eligible purchases on the card in a calendar year.
You'll need to spend $25,000 for Silver, Gold, or Platinum, and $250,000 for Diamond status.
I don't think getting status is worth it for most people since having the Amex Platinum Delta card will give you a handful of the benefits.