Charles H. Miller
The Platinum Card® from American Express was the first premium travel card on the planet and even today, it is considered one of the best such products. It is not a credit card though — rather, it’s a charge card that will require you to pay your balance in full, with no balance to carry from one month to the other. The number of benefits this card includes is crazy, but that, naturally, comes with a high price tag. We think the cost is justified, though we stand to be corrected. You’ll have to see whether all the perks included work for you. Here are the details…
Highlights
- 40,000 sign-up points
- $200 annual airline fee credit
- Premium/VIP experience
- This is a charge (not credit) card
- $450 annual fee
How It Works?
This isn’t a credit card: First thing first, the Amex Platinum is a charge card, meaning that cardmembers are required to pay their balance in full, every month. No balance to carry from month to month.
Points: For each (eligible) dollar spent, cardholders earn one point in American Express’ Membership Rewards program. Once earned, these points can be used for buying travel services, gift cards, or other products and services. Alternatively, points can be transferred to miles with over a dozen different airlines.
Sign up bonus: 40,000 points after spending $3,000 in purchases in the first 3 months of card membership.
Standard Amex perks: These would include a number of shopping and travel perks American Express cards are known for, all of which will make for a that much more pleasant/safer experiences. There are also some Premium perks included, of course.
Hilton HHonors™ Gold Status: As long as you are a cardmember, you can enjoy Hilton HHonors™ Gold Status. Also, if you stay a minimum of two consecutive nights at a Hilton property, you will receive a room upgrade (if available), along with a $75 hotel credit to use on qualifying dining, spa, or resort activities.
Starwood Preferred Guest Gold Status: Cause Gold status in just one hotel chain is not enough. You will get premium treatment in Starwood properties, as well.
Airline fee credit: Again, as long as you use the Amex Platinum Card, you won’t be paying (up to $200) such airline fees as luggage and seat fees, and in-flight food and entertainment. Ticket purchases and first class upgrades are not included in the program, and not all airlines participate in this Amex scheme.
Fee Credit for Global Entry or TSA PreCheck: As part of your card membership, you will receive a statement credit for Global Entry ($100) or TSA PreCheck ($85) every 5 years for the application fee.
Personalized concierge service: Which will make sure you get a VIP treatment at all times. Services you can get with Amex Platinum include travel arrangements, dinner reservations, event ticket bookings, and directions.
Airport Lounge Access: More than 900 airport lounges are available to Amex Platinum members, including The Centurion lounge network, Delta Sky Club and Airspace Lounges. If you fly often, you know that this feature alone justifies the card’s (high) annual fee. Speaking of which…
Annual fee: It’s $450. Meaning you should do the math to determine whether all the benefits American Express Platinum Card® includes work for you (as in – justify the fee). In addition, there’s the additional card fee of $175 (if you need that).
Costs
- No APR (balance should be paid in full each month)
- No Foreign Transaction Fee
- $450 Annual Fee
At American Express’ secure website
Pros
- Valuable sign-up bonus that can be used to get some free hotel stays or roundtrip tickets.
- Benefits, benefits, benefits. That’s what the Platinum Card® from American Express is all about — to give you a VIP treatment at all times. As part of this scheme, you get Gold status in two hotel chains (Hilton and Startwood).
- Membership Rewards which allow you to transfer points to other frequent flyer programs and partner airlines such as American Airlines, British Airways or United.
Cons
- Cost is the only concern we have with this card, but we can understand why it had to be so high. That airport lounge access alone could cost as Platinum’s annual fee.
Is This The Card For You?
If you: a) travel often; b) can afford it; and c) don’t like carrying the balance — go for the Platinum Card® from American Express. It used to be and still is one of the best travel cards out there. It’s not a credit card, but I know some people will like it for that even more. With annual fee of $450, the Platinum isn’t the card for everyone; but there are those who travel often and have no problems paying that much for the VIP treatment they’ll get in return. They’ll be more than happy to shell out what Amex is charging and enjoy the goodies throughout the year.
