A 150,000-Point Amex Platinum Welcome Bonus Is on Offer for Some Applicants. Do You Qualify?

In all the years I've been nerding out over credit cards, the most valuable welcome bonus I've ever seen comes from one of my favorite cards: The Platinum Card® from American Express.

Specifically, the bonus we all want is the rare and coveted 150,000 Membership Rewards points bonus that occasionally makes the rounds. (Spending requirements vary by specific offer. Terms apply.)

I was lucky enough to snag this welcome bonus several years ago when I applied for my own card. And I spotted it again in the wild just last week (that one could be earned once you spent $8,000 in 6 months).

Friends, if you see this bonus, and you have any interest in the Amex Platinum Card -- apply. Grab that welcome offer by its shiny platinum horns and run with it.

Why? Amex has strict rules on who can earn bonuses

So, what's all the fuss? I mean, you can just get another one later, right?

Nope!

American Express has some of the strictest rules around welcome offers. You're limited to one bonus per card per lifetime. Yeah, you read that right: You can only earn one welcome bonus per Amex card, period.

(All right, in fairness, there are lots of rumors and reports about people getting second bonuses after seven to 10 years. But that's a very your-mileage-may-vary situation, and I wouldn't want to bet on it happening.)

So, if you're limited to earning just one welcome bonus per credit card, you really want to make sure you get the very best bonus you can find. And, so far, you can't do better than 150,000 points.

Strategies for triggering higher welcome offers

The major downside to this welcome offer is that it seems to be entirely random in when and where it pops up. No one has found a foolproof way to trigger the offer, nor are there any current referral links guaranteeing the offer (that I know of, happy to be proved wrong here).

How do you find it, then? Luck and patience, mostly. But there are a few other things you can try:

• Log into/out of your Amex account: You may get better offers inside your Amex account and/or in the Amex mobile app. Or you might get a better offer by logging out.
• Change your browser: I've seen a lot of reports of people getting different welcome offers depending on the web browser they use. Using private or incognito mode could also make a difference.
• Use a VPN: Some people find they get different offers by using a VPN to change their region within the U.S.
• Look for referral links: You might luck into a referral link that leads to the offer, but this doesn't seem to be common.

What can you do with 150,000 Membership Rewards points?

Membership Rewards points are exceptionally versatile travel rewards, so you can do a ton of awesome stuff with 150,000 of them. Here are just a few ways to use all those points:

• Fly to Europe and back in business class: You could transfer your points to Air France Flying Blue and enjoy business class flights to and from Paris, all for around 105,000 points.
• Spend your honeymoon in New Zealand: You can get economy award flights on Qantas from the U.S. west coast to Auckland for just 37,600 points each, which is just over 150,000 points for two people round-trip.
• Take your family of three on a domestic vacation: You can fly round-trip in Delta's Main cabin from the eastern U.S. to the west coast for just 49,000 points each, or 147,000 points round-trip for a family of three.

Keep in mind that most award flights do have some cash component, which can range from $5 up to a few hundred bucks per ticket (business class awards tend to have more fees than economy). You're still saving a big chunk of change over paying cash, though.

If you have your eye on the Amex Platinum Card, it can be well worth taking your time to wait for a great welcome offer. You never know when the universe will gift you that elusive 150,000-point prize.