The American Express Platinum Card is one of the most prestigious rewards cards on the market today. It is also one of the most expensive cards with an annual fee of $450. In exchange for the high annual fee, the Platinum Card offers a number of travel advantages and a generous rewards program.
 | | - 25,000 Membership Rewards® points bonus when you spend $2,000 during your first three months of Card membership
- GLOBAL Travel benefits: Access over 600 lounges worldwide with Priority Pass™ Select, no foreign transaction fees, skip U.S. customs lines with Global Entry.
- Up to $200 in Airline Fee Credits annually to cover incidental charges on your airline of choice, including checked-baggage fees
- Receive a companion ticket for discounted travel when you purchase a qualifying First- or Business-Class international ticket.
- 24/7 Platinum Card® Concierge service for assistance with reservations, travel, gifts, and more
- FINE HOTELS & RESORTS Program: exclusive upgrades and amenities at over 700 boutique, resort, and luxury hotels worldwide
- Get 20% back when you use Pay with Points to book your travel.
| | | | Intro APR for Purchases | Intro APR for Balance Transfer | APR as low as | Annual Fee | | - | - | N/A | $450 |
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| Overall Score | 4.2 | |
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| Rewards | 4.5 | |
| Fees | 3.0 | |
| Benefits | 5.0 | |
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Pros and Cons
- Travel perks
- 25,000 bonus points
- Concierge service
Bottom Line
Excellent charge card for frequent travelers
Rewards Program
When you make purchases through your American Express card, you collect reward points. You earn 1 point for each dollar spent on the card. If you book hotels or flights through the American Express Travel website, you earn 2 points for each dollar spent. You also earn bonus points for purchases from retailers that are part of the American Express membership rewards program.
You can redeem your points for a wide variety of rewards like travel tickets, hotel stays, and merchandise. When you first sign up for the American Express Platinum Card, you receive an additional point bonus. You earn a 25,000 point bonus after your spend $2,000 in the first three months of the card. This is enough points to redeem a round-trip domestic flight in the US.
Travel Benefits
The American Express Platinum Card also offers a number of special travel benefits. This card gives you free access to select airport lounges throughout the World. You can enjoy the airport lounges of a number of airlines simply by presenting this card. The Platinum Card also gives you free benefits at hotels and resorts. When you present this card, many hotels will offer you a free room upgrade.
Another feature of this card is a $200 Airline Fee Credit. You receive this credit every year to pay off airline incidental charges like baggage or flight-change fees that are charged to the card.
Lastly, the by owning the Platinum Card you gain access to the Premium Access Concierge program. This service helps you make reservations at exclusive restaurants and gain early access to tickets for concerts or sporting events.
Fees
The Platinum Card’s annual $450 fee is very high for a rewards card. Most rewards cards charge less than $100 a year. You need to make good use of the cards benefits to justify this annual fee.
If you are a heavy traveler, you will easily make up the card fee from travel benefits. If you do not travel often, be sure that you are earning receiving enough bonus rewards to justify the fee.
Before you purchase this card, you should also be aware that it is a charge card, not a credit card. You must pay off your account balance in full each month. Otherwise, American Express may revoke your card. Since you cannot maintain a balance on this card, it does not charge a monthly interest rate.
Pros
- Offers exceptional travel and hotel upgrades at no extra charge.
- Earns bonus points on all purchases. Points can be used for travel, hotel reservations, or merchandise.
- Generates an initial 25,000 point bonus in its first year. You need to spend $2,000 during the first three months of the card to earn the bonus.
- Gives access to the Premium Access Concierge Program
Cons
- Very high annual fee. Costs $450 a year to keep this card. Fee is not waived in the first year.
- Cannot maintain a balance on the card. All purchases must be paid off monthly.
Bottom Line
This is a premium rewards card that offers fantastic travel benefits, a generous bonus program, and an exclusive concierge service. Be sure you can afford the expensive annual fee before applying for this card.
Write to David R at davidr@creditdonkey.com
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Disclaimer: This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Disclaimer: This content was first published on January 13, 2012. This content may have been updated on February 20, 2012. Information including APR, terms and benefits may vary, be out of date, or not applicable to you. Information is provided without warranty. Please check American Express website for updated information.
