I just signed up for the Amtrak Preferred credit card and so far I'm pretty impressed by the offerings. I see some ppl concerned about the $99 AF, but the benefits and ways to earn more than pay for that.

What's been your experience?

Preferred has several benefits, but the MAIN value IMO is this: "Earn 1,000 TQPs (Tier Qualifying Points) each time you make $5,000 in qualifying purchases." Their regular free card doesn't count towards TQP points.

Preferred (given yearly) Select status (5000 TQPs given upfront = Select status)

1 upgrade coupon from Preferred 2 for select status
2 RT coupons from Preferred
1 Lounge station pass from Preferred 2 for select status

If you're like me and don't travel Amtrak enough to normally get 5000 TQPs needed for select status, the preferred card gives you a way to earn those points on normal spending.

For me, just paying my rent (including their processing fee) is profitable using this card. It'll easily keep me in Select and hopefully Select status. Previously I never paid rent with a credit card because the benefits didn't pay for the fees.