Full Review: The Platinum Card® from American Express

The Platinum Card® from American Express, often referred to as the Amex Platinum, is considered one of the elite travel credit cards available today.

It offers an unmatched suite of benefits tailored to the luxury traveler, albeit accompanied by a high annual fee.

This comprehensive review explores whether the perks justify the $695 price tag and how cardholders can maximize their returns to outweigh the costs.

CreditFinder’s Rating: 4.8/5

Pros:

• Extensive travel benefits and annual credits that can offset the annual fee.
• Access to a vast network of airport lounges worldwide.
• Significant rewards on travel-related purchases.

Cons:

• High annual fee of $695, which can be prohibitive for some.
• Rewards structure benefits frequent travelers the most.

Card Overview

The Platinum Card® offers a wealth of benefits, including comprehensive travel insurance, extensive airport lounge access, and elevated rewards on travel and dining.

These features are designed to enhance the travel experience while providing value that can exceed the annual fee for frequent travelers.

Key Features:

• Annual Fee: $695
• Rewards: 5X points on flights and hotels booked through Amex Travel, 1X on other purchases.
• Welcome Offer: 80,000 Membership Rewards points after spending $6,000 in the first 6 months.
• APR: None (Pay in Full).

In-Depth Benefits Analysis

1. Rewards and Redemption

Earning Potential:

• 5X Points: On flights booked directly with airlines or with American Express Travel, and on hotels booked on amextravel.com.
• 1X Points: On all other eligible purchases.

Points can be redeemed for travel, gift cards, shopping, and more, often achieving the highest value when booked through Amex Travel or transferred to airline and hotel partners.

Expert Appraisal:

Points are valued at about 1 cent each when used for bookings through Amex Travel, potentially doubling in value when transferred to strategic partners, enhancing flexibility and potential returns on spending.

2. Comprehensive Travel Credits

The card offers up to $500 in various annual travel credits, including:

• $200 Airline Fee Credit: For incidental fees at one selected airline.
• $200 Uber Credits: Distributed monthly for U.S. rides.
• $100 Saks Fifth Avenue Credit: Split into two annual credits.
• $100 Global Entry/TSA PreCheck Credit: Every 4 years.

These credits alone can total up to $600, significantly offsetting the annual fee.

3. Luxury Travel Perks

Lounge Access:

Cardmembers have complimentary access to over 1,300 airport lounges worldwide, including The Centurion® Lounge, Delta Sky Clubs®, and Priority Pass™ Select lounges.

Hotel Benefits:

Enjoy complimentary benefits with an average total value of $550 per stay at over 1,000 properties worldwide, thanks to the Fine Hotels and Resorts Program.

Elite Status:

Automatic Gold status with Hilton Honors and Marriott Bonvoy, enhancing every stay with room upgrades and late check-outs.

4. Comprehensive Insurance Coverage

Includes trip cancellation and interruption insurance, baggage insurance, car rental loss and damage insurance, and more, providing peace of mind on the move.

5. Annual Summary

The potential annual savings and earnings from rewards and credits can easily exceed the card’s annual fee for frequent travelers, offering exceptional value despite its high cost.

User Experiences and Testimonials

Case Study:

John, a frequent international traveler, shares that he recovers more than the annual fee each year through lounge access alone, with additional savings from other travel credits and rewards.

His experiences highlight the card’s suitability for those who travel often and enjoy luxury experiences.

Why You Might Choose The Platinum Card®

Ideal for:

• Frequent flyers who can utilize the extensive lounge access and travel credits.
• Those who appreciate luxury travel perks and high-end customer service.
• Big spenders who will leverage the 5X points on travel bookings to earn substantial rewards.

Might Not Be Suitable for:

• Occasional travelers who won’t use enough of the benefits to justify the annual fee.
• Budget-conscious individuals looking for a lower-cost card.

Final Thoughts: Is It Worth It?

The Platinum Card® from American Express stands out as a top-tier luxury travel card, offering value that can far exceed its annual fee for the right user.

It’s designed for frequent travelers who will make the most of its extensive benefits, from airport lounge access to travel credits and boosted rewards.

For those who travel less frequently or spend less on travel, a card with a lower fee might be more appropriate.

FAQs

How does the welcome offer work?

Earn 80,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of

Card Membership.

Can you justify the $695 annual fee?

For frequent travelers and big spenders who will use the extensive suite of benefits, the value retrieved can justify the annual fee. However, for casual users, a lower-cost card may be more appropriate.

This comprehensive review underscores The Platinum Card® from American Express as a premier choice for those seeking luxury travel benefits, backed by a strong rewards program and extensive travel credits, proving its worth to the right cardholder.