The Platinum Card® from American Express
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As a frequent traveler and savvy spender, discovering the right credit card can turn your adventures into a rewarding experience. Enter the American Express Platinum Card—a real game-changer for anyone looking to elevate their travel game. Let’s dive into its features and benefits and see how it can spice up your financial journey!
Annual Fees
The Amex Platinum card's annual fee is $695.
Welcome Offers
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership
Terms and Restrictions Apply
Credits and Benefits
The Amex Platinum card is known for its extensive list of credits, which many consider a "coupon book." Here's a quick rundown:
$240 Digital Entertainment Credit: Covers services like Peacock, Disney+, and more. Enrollment required (Terms and Restrictions Apply)
$200 Airline Fee Credit: Reimburses incidental airline fees on a chosen airline.
Enrollment required (Terms and Restrictions Apply)
$200 Uber Cash: $15 per month and an extra $20 in December, which can be used for Uber rides or Uber Eats. (Terms and Restrictions Apply)
$200 Hotel Credit: Valid at Fine Hotels & Resorts or The Hotel Collection properties, booked through Amex Travel. Hotel Collection Requires a 2-Night Stay Minimum (Terms and Restrictions Apply)
$155 Walmart+ Credit: Covers the cost of a Walmart+ membership.
(Terms and Restrictions Apply)
$100 Saks Fifth Avenue Credit: $50 credit semi-annually. Enrollment required
(Terms and Restrictions Apply)
$300 Equinox Credit: Can be used towards Equinox memberships. Enrollment required
(Terms and Restrictions Apply)
$199 CLEAR® Plus Credit: Covers the cost of CLEAR membership. (Terms and Restrictions Apply)
Global Entry or TSA PreCheck Credit: $120 every 4.5 years for Global Entry or up to $85 every 4 years for TSA PreCheck. (Terms and Restrictions Apply)
Lounge Access
One of the most significant benefits of the Amex Platinum card is its extensive lounge access:
Centurion Lounges: Access to Amex's own Centurion Lounges in various airports.
Delta Sky Club: Access when flying Delta on a same-day ticket.
Priority Pass: Access to over 1,300 Priority Pass lounges worldwide (excluding restaurant benefits).
Escape Lounges: Access to Escape Lounges in the US.
Based on personal experience, lounge access can provide substantial value in terms of food, drinks, and peace of mind. For someone who travels frequently, this benefit alone can justify a significant portion of the annual fee.
Hotel and Car Rental Status
The Amex Platinum card provides elite status with several hotel and car rental programs:
Hilton Honors Gold Status: Benefits include room upgrades, free breakfast, and more.
Enrollment required
Marriott Bonvoy Gold Elite Status: Benefits include late checkout, enhanced room upgrades, and bonus points. Enrollment required
Car Rental Status: Elite status with Avis, Hertz, and National Car Rental, which includes perks like expedited service and car upgrades. Enrollment required
Additional Benefits
$100 Property Credit: Available at select hotels within the Fine Hotels & Resorts program.
Global Dining Access: By Resy, providing exclusive reservations and dining experiences.
International Airline Program: Offers savings on premium cabin tickets with participating airlines.
No Foreign Transaction Fees: Great for international travel. Rates and Fees; Terms Apply
Insurance and Protections
The card offers various insurance and protection benefits, including:
Trip Cancellation and Interruption Insurance: Coverage if your trip is canceled or interrupted for covered reasons.
Trip Delay Insurance: Reimbursement for expenses due to flight delays.
Baggage Insurance Plan: Coverage for lost, damaged, or stolen baggage.
Purchase Protection: Covers new purchases against damage or theft.
Extended Warranty: Extends the original manufacturer's warranty on eligible purchases.
Conclusion
While the Amex Platinum card has a high annual fee, the extensive range of credits, lounge access, hotel and car rental statuses, and other benefits can provide significant value if utilized effectively. Whether it's the right card for you depends on your travel habits, spending patterns, and ability to take full advantage of the offered perks.
My Opinion: Having used the Amex Platinum card for an extended period, I find that its value lies heavily in how much you can leverage the benefits. For frequent travelers who can utilize the lounge access, hotel statuses, and various credits, the card can offer substantial value. However, for those who do not travel as often or do not make use of the credits, the high annual fee may not be justified. Ultimately, the card's worth depends on individual circumstances and spending habits.
