Question
I just received an offer as one of "a select group of customers invited to become a Charter Member" for the CO Presidential Plus World MasterCard. :rolleyes: The card provides the following benefits: free Presidents Club membership; EliteAccess priority airport services; double OnePass miles on hotel stays, car rentals and CO tickets (1 mile per $ spent for other purchases); concierge service; trip cancellation insurance; flex elite qualification miles. Oh yeah, you also get 2 Hartmann luggage tags.
The unique feature of this MC is the flex EQM feature. For every $25K in spending per anniversary year, you earn 2K flex EQMs that you can apply toward Elite status at any time in future years. The flex EQMs never expire; and you have until March 31st of each year to decide to apply any flex EQMs to your prior year EQMs. In other words, if you're short for any elite status level, you can use flex EQMs instead of doing a mileage run. ^
The annual fee is a bit steep -- $375. Of course, if you were planning on spending $375 for PC membership anyway (or $275 as Plat), then the card is effectively free.
I thought I was really special to receive this offer, but then found out that my wife (who is only Silver on CO) also got the same offer. :p
What do you all think? Is this card worth it? I normally stay away from credit cards with annual fees, but the flex EQM feature intrigues me. There will definitely be years where the ability to achieve elite status without doing a mileage run will be worth much more than $375.
Any thoughts?
Answer
Could you provide a link to a website where they have information on this card. I looked on the CO and Chase websites but there is no information. Thanks!
Answer
I got the same offer, but decided the fee was too steep. I fly enough not to need the flex miles.
I think I got the offer because I had a Chase CO Card and converted it to a different rewards card. If I wouldn't pay $75 for the first card, I certainly wasn't going to pay $375 for the second.
It may be worth it for you, however.
MCT
Answer
Could you provide a link to a website where they have information on this card. I looked on the CO and Chase websites but there is no information. Thanks!
http://www.firstusa.com/cgi-bin/webcgi/webserve.cgi?partner_dir_name=continental_presiden tial_reducedaf&mkid=6RXG
Answer
There is a special offer on this card right now that gives you $75 back on the card after you make your first purchase so the card will cost you $300 the first year. After year one the regular annual fee of $375 is in effect.
Answer
Actually, the flex EQM are awarded 2,000 for each $25,000 in spend up to 14 times per year. As such, the maximum you could get in a given year would be 28,000 flex EQM for a spend of $350K.
Answer
Got the same offer in the mail. It's a thick blue 'gift' style envelope. Got me al excited until I opened it. Interesting little point is that I'm CO Gold as of a little of three weeks ago and it still targetted me as a valued silver elite. :)
Seems like a standard mass mailer that someone splurged on the cost of. I wonder how much it cost them for all of the mailers and whether they plan to charge it against this plan or they account for it some other way.