Tuesday, September 27, 2022

How Much Is Amex Platinum Points Worth

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Other Amex Platinum Perks

Is the AMEX Platinum Worth it in 2021? | Amex Platinum Review (Canada)

You can recoup the entire cost of the annual fee on the Amex Platinum with just the perks above. But if you need more options, here are plenty of perks to help justify the annual fee:

  • Discounts on international airfare through Amextravel.com
  • Platinum concierge and travel planning service
  • Premium Global Assist hotline
  • Cellphone protection
  • Up to 40% discount on Wheels Up private jet membership and up to $2,000 in initial credits

Amex Credit Card Point Calculators

Use the Point Calculators to find out how many Membership Rewards Points you can earn based on spend, the cash value of those points, and the transfer of points to partners. You can compare the results side by side any U.S. credit cards featured on the site.

Best For Restaurants & Big Supermarket Spenders

Best For Lounge Access & Luxury Travel

Best For Travel Purchases

Best For Lounge Access & Luxury Business Travel

Best Overall For Business Rewards

Best For Small Business

Best For Earning On Supermarket & Gas

Best For Reward With No Annual Fee

How The Value Stacks Up Against Other Programs

Amex Membership Rewards isnt the only major transferable points currency. It has fierce competition from other major banks, including programs like:

  • Capital One Rewards
  • Chase Ultimate Rewards
  • Citi ThankYou points

As discussed in the last section, Chase has a slight edge over Amex Membership Rewards when redeeming for paid travel and cash back on select purchases. That said, I think that Amex has a huge edge over Capital One, Chase and Citi when it comes to transfer partners Ive found theyre more flexible and powerful across the board.

For example, Chase only has United MileagePlus and Singapore Krisflyer as Star Alliance transfer partners. On the other hand, Amex has Air Canada Aeroplan, ANA Mileage Club, Avianca LifeMiles and Singapore Krisflyer. For most awards, youll get a far better redemption value with Avianca, ANA or Air Canada than you would with United or Singapore Airlines, barring a few exceptions.

On the flip side, Chase has an edge over Amex when it comes to hotel transfer partners. You can transfer Chase points to World of Hyatt and take advantage of reasonably-priced hotel redemptions. On the other hand, you can transfer Amex points to Choice Privileges, Hilton Honors and , which generally presents a poor value compared to redeeming for flights.

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Amex Platinum Card Summary

The Amex Platinum Card was recently refreshed, with a higher annual fee and new perks. Personally I love the card, and find it to be well worthwhile, both before and after the changes.

The Amex Platinum isnt a card you should be using for all of your credit card spending, but rather its a card you should get for the perks that it offers, as well as the 5x points on airfare.

To decide if you should get the card, take the $695 annual fee, subtract how much value youd get out of the credits, and then consider how much more you value the other perks of the card, including the great lounge access benefit.

For a frequent traveler or anyone who buys international premium cabin tickets with any frequency, I think the card is well worth it. And even for those who dont, Id argue the card could be worth it right now.

The comments on this page have not been provided, reviewed, approved or otherwise endorsed by any advertiser, and it is not an advertiser’s responsibility to ensure posts and/or questions are answered.

Ben I’m really curious how you use the airline credit each year. I don’t check bags . If you’re up front drinks and food are free. Club access is free. I really don’t know what to use it on… If that free were an airline credit like its competitors it would go a long way in easing the price increase for me.

The Platinum Card From American Express 100000 Bonus Points

Is the American Express Platinum Card worth $1,450 annual ...

We work hard to find the best offers. Most, but not all, products in our articles are from partners who may provide us with compensation, but this doesnt change our opinions. See our advertiser disclosure.

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Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

The Platinum Card® from American Express has an offer for 100,000 bonus Membership Rewards® points when you spend $6,000 in your first 6 months . These 100k bonus points are worth up to $2,000 based on our valuations. See how this compares with other top card bonuses.

The offer comes in the form of Membership Rewards points. The easiest options for redeeming these points would be by booking travel through American Express or by redeeming for gift cards. If youre looking to maximize your rewards, youll want to transfer your points to a partner program. The biggest drawback to this card is the $695 annual fee , as this card falls in the premium class of credit cards .

The Platinum Card has a market because it offers premium travel benefits, such as airline lounge access, an annual $200 airline fee credit at one select qualifying airline, an annual $200 hotel credit on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel, and an exhaustive list of many more travel perks.

THE PLATINUM CARD® FROM AMERICAN EXPRESS

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What Are The Requirements For Chase Sapphire Reserve

To receive the 100,000 Chase Ultimate Rewards sign-up bonus, you must spend at least $4,000 on your Chase Sapphire sign-up card within the first 3 months of opening an account. To meet this requirement, you can charge your card for recurring purchases, such as restaurant fees, membership fees, and medical expenses.

American Express Gold Card

If you want to maximize your spending in the restaurant and supermarket category, you’ll want to sweep up the American Express® Gold Card.

It earns 4X Membership Rewards Points at restaurants and on U.S. supermarket purchases, 3X points on airfare purchased directly with an airline or via amextravel.com, and 1X on everything else.

The card also offers $120 in annual Uber Cash which can be used for rides or UberEats and $120 in annual dining credits which can be used towards select restaurants and food delivery services such as The Cheesecake Factory and GrubHub.

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How Does American Express Travel Work In Canada

American Express Travel is Amexs online travel portal for buying flights, booking hotels and rental cars, and getting support from some of the best travel concierges in the business.

The $200 annual travel credit that comes with your Amex Platinum can be used either directly through the American Express Travel platform or as a statement credit after youve made a travel-related purchase with your card.

Redeem For Gift Cards

Is AMEX Platinum Worth it in 2021? | 3 Months Review

You can redeem your points for gift cards through the AmEx site at several dozens of retailers, from Home Depot to iTunes, and the point value varies by retailer. At Target, a $25 gift card costs 3,572 points, making each point worth about 0.7 cents. At Tiffany, a $250 gift card costs 25,000 points, making each point worth 1 cent.

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Best Amex Points Value Uk

Redeeming for Avios Points

One of the best methods of generating consistently strong value for Amex points redemptions is by converting to Avios points . Now the value of an Avios point can vary quite significantly depending on an individuals travel habits and preferences.

You can read about how I value an Avios point here. Within the article I conclude that the value of an Avios point would ordinarily vary between 0.75p and 1.25p. However as you can read in my BA Club Europe review , I recently managed to achieve a points value in the region of 3.2p per point. With a conversion rate between American Express Rewards and BA Avios at 1:1, this was by far the most lucrative Amex points value Ive ever achieved!

Welcome Bonus Of 100000 Points & 10x Points

The Amex Platinum Card has a phenomenal new welcome bonus, potentially worth up to 350,000 Membership Rewards points:

  • Earn 100,000 Membership Rewards points after spending $6,000 within six months
  • Plus, earn 10x Membership Rewards points on eligible purchases at restaurants worldwide and when you Shop Small in the United States, on up to $25,000 in combined purchases, within six months

Thats an amazing bonus, especially when you combine both components. Personally, I value Membership Rewards points at ~1.7 cents each, so if you maximize both parts of the bonus , those points are worth $5,950!

Card Eligibility Restrictions

The welcome bonus on the Amex Platinum Card isnt available to those who currently have the card, or those who have had the card in the past. If youve had the card in the past youre still eligible to be approved, you just wont get the bonus. See here for general restrictions on getting approved for Amex cards.

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$200 Annual Hotel Credit

New as of July 2021, the Amex Platinum offers up to $200 per year in hotel credits. This is actually a pretty easy perk to use just book a hotel through Amex Fine Hotels & Resorts or The Hotel Collection through American Express Travel, and youll receive an annual credit of up to $200. You can use this credit with a single stay if youd like.

Redeem Amex Points For Hotels On Amex Travel

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Booking hotels on the Amex Travel portal is just as easy but the points value falls short. With this redemption option, each Amex point is worth only 0.7 cents each.

If you’re looking to book hotel stays with your points, we recommend opting for the points transfer option instead. For and Choice Hotels, you can transfer your Amex points at a 1:1 ratio, potentially exceeding the value of just 0.7 cents per point.

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Redeem Amex Points For Gift Cards

American Express offers the ability to redeem your Amex points gift cards in five categories: air and lodging, car and rail, dining, experience and retail. The points value will depend on which gift card you choose, as low as 0.5 cents per point. Out of these options, most dining and retail gift cards will yield the highest value at 1 cent per point.

Does American Express Offer Travel Insurance

American Express cards generally provide travel insurance, but the type of insurance depends on the card. Every American Express card has at least one insurance policy against loss and damage to the rented car. Some cards offer much more, including baggage insurance, travel delay insurance, and travel cancellation and interruption insurance.

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Use Points Toward Online Purchases Elsewhere

When youre shopping online at retailers including Walmart and Amazon, you can use your points to pay at checkout. You may have to sign into the retailer’s account, enter your card number or otherwise follow the prompts to pull up your point balance. Each point is typically worth 0.7 cent when used in this way, with some variance.

Carnival In Rio De Janeiro

Amex Platinum – Worth it in 2021?

Carnival is one of the most exciting times to visit Brazil. Rio de Janeiro hosts a spectacular celebration just before Lent every year. The highlight is a parade that goes through a mega-stadium called the Sambadrome Marquês de Sapucaí with a 90,000-person capacity.

British Airways, Delta, Alitalia, Air Canada, ANA, Etihad, and JetBlue all give you options to reach Brazil using your Amex points. You can also book nearly any flight through the Membership Rewards portal, but transferring points to partner airlines usually gives you more value.

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Choosing The Best American Express Cards For You

As with all rewards credit cards, the best card for you depends on your budget, spending habits, and goals. Before you apply for any Amex card, youll want to evaluate the cards spending categories, welcome offer, credits and other benefits to help you determine which one best suits your needs.

Heres an overview of each of the Membership Rewards-earning Amex cards on the market to help you determine which one might be best-suited for your wallet.

The Amex EveryDay® Credit Card

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How Do You Determine My Credit Limit

  • Income, expenses and debts. The Card Act of 2009 requires lenders to consider your ability to pay, which is why your income is required to apply for a credit card.
  • Payment history. Credit card issuers are more likely to give you a decent line of credit if they are in the habit of paying your loan on time.
  • Use of credit.

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How Much Are Amex Points Worth

American Express Membership Rewards points are one of the most valuable credit card program currencies.

Theyre transferable meaning you can transfer them to Amexs comprehensive list of airline and hotel partners, including Delta, , and Hilton and you can redeem them directly within the Amex Travel portal. While you can also redeem your Amex points for statement credits or on Amazon or GrubHub/Seamless purchases, theyre most valuable when you use them to book travel.

We recommend checking both transfer partner rates and the travel portal before using your points to book travel. You can often get more value by transferring points to partners, but its not always guaranteed.

Thats because, according to Amex, points values differ depending on how you use them. You can transfer to travel partners at a 1:1 1:2 point to point ratio meaning that for every point you transfer, you can get anywhere from 1 to 2 points within the partners program. Travel bookings through the portal may be worth anywhere from 0.5 cents to 1 cent per point.

On the other hand, online shopping will only net you 0.5 cents per point. A statement credit will net you a similar value, at 0.6 cents per point.

What Is The Best Way To Redeem Amex Points

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When earning rewards with a credit card, there are no right or wrong ways to cash them in. The points you earn are yours to spend how you wish, so you shouldnt feel bad if you ultimately select a non-travel redemption option.

With that being said, you will get approximately 2 cents per point in value when you transfer points to airline partners specifically, which is more than youll get with other options. This process starts with comparing airline partners and figuring out which ones can get you to your destination. From there, you can check for award space on the flights you want while also figuring out how many miles you need for the redemption you want.

Generally, youll get the absolute highest value from your points when you transfer points to airlines for international and domestic flights in premium cabins.

In the meantime , check flight prices in points on AmexTravel.com. While unlikely, its possible that a flight you want will be available through AmexTravel.com for a similar number of miles as you can book with a transfer partner. This typically takes place when a flight is on sale, and it may be more convenient to book through AmexTravel.com in that case.

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The Platinum Card From American Express Vs Chase Sapphire Reserve

The Chase Sapphire Reserve® is the perfect card for those who want a mix of luxury and terrific credit card rewards even for everyday spending. With the same annual fee , this card also gives you access to hundreds of airport lounges worldwide with a Priority Pass Select membership. While not as robust as The Platinum Card® from American Express, this benefit can still make many flights more enjoyable. Beyond this, the Chase Sapphire Reserve® provides fantastic rewards on travel and dining a 4.5% rewards rate in both categories.

You’ll earn points through the Chase Ultimate Rewards program, which can offer a ton of value. If you book any travel through the Ultimate Rewards portal including flights, hotels, cruises and more you’ll earn a 50% point redemption bonus. These redemption options offer much better than on The Platinum Card® from American Express, which can only provide 0.7 to 1 cent per value. Chase also offers the ability to transfer your points to a wide range of loyalty programs, including Southwest Rapid Rewards and United MileagePlus.

Simply put, if you’re more interested in lounge access or hotel elite status, opt for The Platinum Card® from American Express. For long-term travel and everyday value, opt for the Chase Sapphire Reserve® will serve you better.

Amex Upgrade With Points

Membership Rewards Points can be used to place an offer towards a seat upgrade with more than 20 airlines.

After you’ve purchased your ticket with a participating airline, you can jump to the American Express Travel Site to enter your reservation details. If the itinerary is eligible for an upgrade, you can then use points to make an offer.

You will find out where or not the offer has been granted usually within 5 days of the flight.

The following airlines allow you to make an upgrade offer using Membership Rewards Points:

  • Boxed

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Can I Transfer Membership Rewards Points To Someone Else

The short answer, yes and no. The long answer is its not possible to transfer your Amex points to someone elses Membership Rewards account. However, you can transfer American Express Membership Rewards points to another persons loyalty account as long as that person has been an authorized user on one of your Membership Rewards-earning cards for at least 90 days.

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