Who is the Platinum Card for?
The American Express Platinum card has a strong reputation (and caché) for being the elite travel rewards card. This card is full of ways to earn points with up to 5x points on travel and hotel purchases. You also will receive a huge initial bonus of 75,000 points, but it comes at a steep cost of $550 annually.
This card also has a series of other benefits such as Uber rewards and airline fee credits which justify the $550 annual fee. Although this might be expensive, the plethora of benefits that accompany this card and the large initial bonus will make up for the amount of money you have to pay on the card annually.
This card works for people who want premium travel rewards and do not care about paying annual fees. Although it is an expensive card, you will earn enough points and rewards throughout the year to offset the cost and with no foreign transaction fee, this card becomes very reasonable for frequent flyers.
American Express offers you a huge bonus when you make $5,000 in purchases in the first three months since the account was opened. You will receive 75,000 membership points, which would have normally taken $75,000 of spending to earn. This bonus by itself will already offset the annual cost of $550.
First, we need to address the annual fee of $550 to get this card. While it’s not inexpensive, this fee pales in comparison to the value the card offers its users. Even before statement credits, the rewards are great: 5x points on flights and hotels booked directly with airlines or using American Express Travel portal and 1x points on all other qualifying purchases. If you are a heavier traveler for leisure or can expense your work travel to your personal card this will be the card with the highest rewards rate for you. Especially, when considering the American Express Platinum card has no limit on how many points you can earn.
This point value is tremendous compared to many other travel rewards cards. 5x rewards on flights and hotels will be very beneficial for anyone who travels often for work or vacation purposes as you will be receiving an unlimited, uncapped amount of points for all of these purchases.
Furthermore, the card comes with many credits statements. You receive $550 in Fine Hotels benefits (such as room upgrades). The Platinum Card is meant for travelers, which is why American Express has made this feature available. Get deals at some of the nicest hotels to upgrade your travel experience. When you book through Fine Hotels and Resorts, you will receive many different amenities during your stay. These amenities include:
- Room upgrade upon arrival, when available
- Daily breakfast for two people
- Guaranteed 4pm late check-out
- Noon check-in, when available
- Complimentary Wi-Fi
You also receive $200 in Uber rides ($15 each month plus a $20 bonus in December). Once again, this makes your travel and transportation cheaper, as you will receive free Uber rides whenever you need a way to get around.
This card will also gift you with $200 in airline credits for check bags & flight meals, saving more money for the frequent flyer. Baggage often costs $25 per bag, so $200 in airline credits could realistically save you 8 bags worth of costs.
This card also provides benefits that are not related to travel. In terms of shopping benefits, you will receive $100 in credit at Saks 5th Ave. Buy the newest, trendiest clothing and save money while doing so using your credit to this store.
Lastly, you get a $100 hotel credit when you book 2 consecutive hotel nights through American Express Travel. This card really is for the traveler, as it provides a series of travel benefits to save you money on your transportation, travel, and shopping needs.
This card also gets you access to Hilton Honors and Marriott Bonvoy gold status, allowing you to receive various rewards and benefits when you book stays at these two hotels. You will receive the best rates on rooms, and you will be able to earn points which will lead to rewards at both hotels.
You also receive access to the Global Lounge Collection. This will provide you with the ability to enter more than 1,200 airport lounges in 130 countries. Rest peacefully while you are waiting for your flight in one of these luxurious lounges that are designed for your comfort. This will guarantee you a better flight experience.
This card also eliminates the foreign transaction fee. While most cards typically use a 3% foreign transaction fee when you are out of the country, the Platinum Card will get rid of this fee, improving your travel experience. The no foreign transaction fee adds to the travel benefits you receive with this card.
The Platinum Card additionally will give you access to American Express Experiences. Tickets to a variety of different entertainment events will be limited for a certain time to American Express Experience members only, allowing you to snag tickets to your favorite events before anyone else.
The travel rewards and the credit statements you receive when using the American Express are plentiful and do a very nice job of justifying the high annual fee. With the money you are saving from hotels and transportation, you will make up for the money spent on your annual fee very easily.
You also will be able to use the American Express app in order to manage your account. Check your balance and review your charges at the click of a button with this app that will make your life better.
American Express will also pay for your TSA Precheck or Global Entry application if you are a Platinum Cardholder. This is another way American Express is making traveling easy for you, as you will be able to skip the lines and head straight to your gate. Do not worry about missing your flight on both regional and international flights with these two services, another great travel reward.
The biggest downside of this card is the annual fee. $550 is a lot of money to be paying annually for a credit card, but this money comes with so many rewards as we have mentioned before. The rewards and the points you earn with this card will offset the annual fee. However, you should be cautious and wary when choosing this card because it will definitely put a dent in your wallet.
The Platinum Card by American Express is their premium travel rewards card. At a high annual fee of $550, you are able to earn access to tons of different perks and benefits related to travel. Also, you will earn 5x points on hotels and flights booked through American Express travel services, which will lead to more rewards in your pocket. This card is not for everyone, but if you are willing to pay the annual fee, you will make your money back through the welcome bonus and the variety of perks.