Review of the Amex Platinum Card: Expensive Annual Fee but Abundant Benefits

Review of the Amex Platinum Card: Expensive Annual Fee but Abundant Benefits

The Platinum Card® from American Express is a top-tier travel rewards card known for its valuable benefits and perks. While it carries a high annual fee of $695, it offers a range of benefits that make it worth considering for frequent travelers. In this article, we will explore the details and benefits of the Amex Platinum to help you decide if it’s the right card for you.

The Amex Platinum has faced competition in recent years from other luxury cards like the Chase Sapphire Reserve and the Capital One Venture X Rewards Credit Card. However, it still stands out in many ways. The card has undergone significant changes and now offers a range of perks and benefits that justify its annual fee.

One of the most attractive features of the Amex Platinum is its generous welcome offer. Currently, new cardmembers can earn 80,000 Membership Rewards points after spending $8,000 on purchases within the first six months of card membership. According to TPG’s valuations, these points are worth approximately $1,600.

In addition to the welcome offer, the Amex Platinum offers a wide range of benefits that set it apart from other cards. These include:

– Up to $300 in annual Equinox credits for Equinox gym and Equinox+ app memberships
– Up to a $155 statement credit for a monthly Walmart+ membership.
– A $100 statement credit for Global Entry or TSA PreCheck application fees
– Up to a $100 Saks Fifth Avenue credit split into two statement credits
– Access to the American Express Global Lounge Collection, including Centurion Lounges, Priority Pass lounges, Airspace lounges, Escape lounges, Plaza Premium lounges, and Delta Sky Clubs
– Complimentary Gold status with Hilton Honors and Marriott Bonvoy
– Complimentary car rental status with Hertz, Avis, and National
Access to Amex Fine Hotels + Resorts and The Hotel Collection
– Trip delay and cancellation coverage.
– Extended warranty and purchase protection.

Even if you only use a few of these benefits, they can easily outweigh the annual fee. Many cardmembers find that they can easily recoup the fee through perks like Uber credits, airline statement credits, and digital entertainment credits.

When it comes to earning points, the Amex Platinum offers 5 points per dollar on airfare purchased directly with airlines or through the Amex Travel portal (up to $500,000 per calendar year). Additionally, cardmembers earn 5 points per dollar on prepaid hotels booked with Amex Travel. All other purchases earn 1 point per dollar.

Membership Rewards points are highly flexible and can be transferred to a range of airline and hotel partners. This allows cardmembers to maximize the value of their points by redeeming them for high-value flights and hotel stays. Point transfers are usually instant or take up to 48 hours at most.

While the Amex Platinum faces competition from other premium credit cards, it continues to be a top choice for frequent travelers. Its extensive benefits, valuable points earning potential, and flexible redemption options make it a standout option in the premium travel rewards card market.

In conclusion, the Platinum Card® from American Express offers a range of benefits and perks that justify its high annual fee. If you’re a frequent traveler looking for a premium travel rewards card, the Amex Platinum is definitely worth considering. Its generous welcome offer, valuable points earning potential, and flexible redemption options make it one of the best travel cards available.

Tours4fun, Let us take you on a journey!

More Posts

Scroll to Top