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Amex Platinum Card to add Priority Pass Guest Benefit
UPDATE: The theory I shared in this post has been confirmed. See Below. Yesterday, American Express announced refreshed benefits for its Platinum Card as well as an increased annual fee. They proudly touted new Uber benefits, 5x Membership Rewards for certain hotel bookings, and a new metal Card design. Strangely, there’s one other enhanced benefit that American Express never mentioned. Beginning March 30, 2017, the Priority Pass guest policy for Platinum Card Members will change. At any visit to a Priority Pass lounge, all Platinum Card Members may bring in two guests for no charge. Card Members will be charged $27 for any additional guests. The old policy automatically charged $27…
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Should I Cancel a Credit Card I No Longer Use?
There are times when it makes sense to cancel a credit card, but it’s oftentimes better not to. In “Before You Cancel That Credit Card, Read This!“, I wrote about the effects that canceling a card have on your credit score–it can never help, only hurt your score. In this article, I’ll go through some of the more common reasons I see given for wanting to cancel a card and discuss the validity of each reason. I have too much available credit This is a common misconception in consumer finance. Banks actually prefer if you have a large and varied amount of available credit. Risk is reduced by spreading it out…
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