Tuesday, March 21, 2023

How Much Is Amex Platinum

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What Is The Amex Concierge

Sebby’s Strategy: How to Use Amex Platinum Benefits

The Amex Platinum Concierge is definitely an under-rated benefit of the Platinum Card. It’s totally free for as long as you have the card, and is there to offer you 24/7 assistance with a whole host of things.

Need a table for four at a fully-booked place in Paris or New York? No problem. Looking for the perfect gift for a friend visiting from out of town? Easy.

I mainly use the Platinum Concierge to help me build travel itineraries when I’m visiting a new city, and they’ve done a remarkable job. After a minute or two on the phone getting to know my preferences , they send back a document of 30+ pages outlining restaurants and bars to check out, cultural attractions, events taking place when I’m there, and a lot more. It takes them 24-48 hours to compile it all, which is extremely quick.

You can request help using email as well, though I find just calling them up is faster and easier.

What To Know If You Are Considering The Amex Platinum

If you’re considering the Amex Platinum, it could be worth it for the first year, and then reevaluate when the second annual fee posts. But aside from the benefits, be sure to evaluate your own spending prior to applying. If you have travel purchases like flights and hotels coming up, you can take advantage of the 5X points for every dollar spent on travel booked through American Express.

The value of the credits we tallied up doesn’t take into account other American Express features such as purchase protection, travel insurance and concierge service, among others. For many, the customer support they receive as a Platinum cardmember makes the annual fee worthwhile.

In addition, take the time to figure out if you’ll be able to use the credits. For example, if you already paying for an Equinox or New York Times subscription, then those are valuable benefits. But for those uninterested or unable to access the benefits, you might want to consider another credit card.;

But most importantly, don’t force yourself into a difficult financial situation just to have a credit card. If the annual fee is too expensive, don’t fret there are several other credit cards you can consider without a steep annual fee.

Redeeming Membership Rewards Points

There are a few different ways to redeem American Express Membership Rewards points, but the best way is to transfer to the airline or hotel points programs below.

Our favorites are ANA, Aeroplan, LifeMiles, and Iberia Avios. American Express also occasionally offers transfer bonuses, which increases the value of their points by 20 to 50%.;

Membership Rewards Transfer Partners

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Hear It From Nerds Who Carry The Card

NerdWallet team members who carry The Platinum Card® from American Express say using the exclusive perks is the key to getting your money’s worth:

To view rates and fees of The Platinum Card® from American Express, see this page.To view rates and fees of the American Express® Gold Card, see this page.

Information related to the Citi Prestige® Card has been collected by NerdWallet and has not been reviewed or provided by the issuer of this card.

Why You Might Want A Different Card

A look at the American Express Platinum metal card

If “getting your money’s worth” from a card means that every dollar you spend has to make its way back to your pocket in the form of spending rewards, credits or discounts, you’ll probably find plenty of reasons to pass on The Platinum Card® from American Express. The most obvious potential deal-breakers for some are:

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Up To $200 In Uber Cash Each Year

The Platinum Card offers up to $200 in Uber Cash credits each year. The credit is broken into chunks each month, you’ll get a $15 credit added to your linked Uber account, with an extra $20 for a total of $35 each December.

If you travel regularly or live close to a city, this is an easy perk to get value from. You can also put the credits toward UberEats orders.

In addition, your account will be upgraded to Uber VIP status. There aren’t a ton of perks with this, and it’s available only in some cities, but you’ll only be connected to drivers with at least a 4.8-star rating.;

Is The Amex Platinum Card Worth It

While it doesnt have the best rewards rate among travel cards, the Amex Platinum card is a great choice for frequent travelers who will make use of its numerous travel credits and protections. Even in light of the cards recent annual fee increase, if you use the card for all your travel purchases and take full advantage of these benefits, it can be more than worth it.

As Dan Miller, founder of PointsWithACrew.com, put it in his article on whether the Amex Platinum cards annual fee was worth it: The Amex Platinum features plenty of travel rewards and other benefits that are especially attractive to travelers, so look at which of the rewards and benefits youll use and decide if they are worth more than theannual fee.

With this in mind, lets do the math to see just how much this cards major perks are worth:


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Hilton Honors American Express Aspire Card

If youre looking for a hotel-specific credit card, then the Hilton Honors American Express Aspire Card is one of the best out there when it comes to benefits. With a significantly lower $450 annual fee when compared to the Amex Platinum, the benefits can easily outweigh the cost.

One of the best perks of the Hilton Aspire card is automatic Hilton Honors Diamond status Hiltons top-tier elite status level. This gives you space-available upgrades, lounge access, daily food and beverage credit at US hotels as well as your fifth night free on award stays. While the Amex Platinum also grants you automatic Hilton elite status, its just mid-tier Gold status, not top-tier Diamond.

Related: Increase your Hilton points balance with these credit card offers.

The Hilton Aspire card also comes with up to $250 in annual Hilton resort statement credits and up to $250 in airline fee credits each year. These credits alone can easily put you well ahead of the cost of the cards annual fee. Plus, youll get a free weekend night certificate each year starting with the second year you have the card, further increasing the cards value.

And even though this is a hotel-focused credit card, youll also receive a Priority Pass Select airport lounge membership with unlimited visits that matches the one on the Amex Platinum, and even the same cell phone protection coverage as the Platinum .

Redeeming Points Through The Amex Travel Portal

American Express Platinum Card: How To Get Amex Platinum

While we focus a lot on the value of transferable points here at TPG, you can only maximize them if your preferred airline or hotel has award space available. If you need to travel on fixed dates especially on a premium route like New York to Los Angeles this might pose a problem. If youve exhausted all your other options, you can get an OK value by redeeming your points directly through the Amex Travel portal.

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The Platinum Card From American Express Vs Citi Prestige Credit Card

The Citi Prestige® Credit Card offers comparable luxury travel benefits for a $495 annual fee. It also comes with Priority Pass Select membership and a Global Entry or TSA Precheck application credit. While it doesn’t come with hotel elite status, you can enjoy complimentary 4th night free when booking your stays on ThankYou.com up to twice per calendar year. Citi ThankYou points are also quite flexible, as you can also transfer your points to a long list of airline loyalty programs.

If you don’t mind paying $55 extra per year, we think you’ll find more value in The Platinum Card® from American Express. From the Concierge Services to monthly Uber Cash, most luxury travelers will be sure to benefit from the additional perks.

American Express Platinum Card

You don’t have to be as elite or nearly as much of a big spender to apply for the American Express Platinum Card. Unlike the Black Card, you can easily apply for the Platinum option on the American Express website. If you’re a Gold cardholder who regularly charges a reasonable amount of money on the card and pays on time, you’ll likely receive an application.

American Express is not secretive about this card as it is with the Black Card. The Platinum Card is the next step up from the Gold Card and comes with many luxury benefits. Qualifying for this card requires a very high and a lengthy . Prospective cardholders also require relatively high income in order to be approved for the card, though certainly not as lofty as the Black Card.

Recently, American Express extended new payment flexibility features to its Platinum, Gold and Green consumer and business charge cards that allow cardholders to pay for purchases over $100 over time at a set interest rate as well as split up any large purchases into set installment payments over time. So, while the Platinum Card is still technically a charge card it now offers a revolving credit feature with a separate line of credit that makes it similar to a credit card if needed.

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Avis Preferred Club Hertz Gold Plus Rewards And National Emerald Club Executive Statuses

As outlined in our complete guide to credit card rental car elite status, the Amex Platinum Card has special privileges with 3 rental car companies: Avis, Hertz, and National. Authorized users get access to all of the included perks.

For more in-depth information, explore the Amex Platinums rental car benefits for more information.

Summing Up: The American Express Platinum Card

A look at the American Express Platinum metal card

This card is likely to appeal most to those who travel frequently and can utilise most of the travel benefits of the card. Given the high annual fee of $1,450 every year, a cost-benefit analysis should be made, especially if you are a borderline frequent traveller. For those that rarely travel, other American Express cards such as the American Express Explorer Card might be better suited.

Remember, once youre a Card Member, take advantage of the Amex referral program to earn more points.

The American Express referral program allows Card Members to earn points by referring their friends and family to apply for other American Express cards, offering both the applicant and the Card Member bonus points for doing so.

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American Express Black Vs Platinum: An Overview

Founded in 1850, American Express is a financial services company that is best known for its line of traveler’s checks, , and charge cards. Two of its most popular cards are the Black and Platinum Cards. Both options are charge cards which means the cardholder doesn’t get charged interest but must pay the full balance when they receive the statement. But the two have some key differences. The American Express Black card is a high-end, exclusive charge card that is only available to individuals on an invitation-only basis. Consumers may qualify for the American Express Platinum card based on their credit score and income. Keep reading to find out what each card offers and how they differ.

Amex Platinum Card Lounge Access

The Amex Platinum Card offers one of the most comprehensive lounge access benefits of any card. This is called the Global Lounge Collection, and it offers access to over 1,200 lounges in over 130 countries. This includes proprietary Amex lounges, as well as access to lounges run by other airlines and companies.

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$300 Equinox Gym Credit

Dont let that big number trick you: This was most disappointing new benefit of the bunch for me.

With only 106 clubs around the world, using up the $300 annual credit for Equinox gym memberships or a digital subscription to Equinox+ is near-impossible if you dont live in a huge city or pay for a digital membership.

The $300 credit is doled out in $25 increments each month a drop in the bucket compared to what Equinox charges. This is a huge swing and a miss for value-add to this card for me, and Id imagine for many others, too. For many, a benefit billed at $300 in savings is worth approximately $0 in practice.

Airfare And Prepaid Hotel Purchases

AMEX Platinum’s Fine Hotels & Resorts Benefit. How much money value can you get??

With the Amex Platinum card, you will earn 5x Membership Reward points per $1 spent directly with airlines, as well as airfare and prepaid hotels booked with American Express Travel. The earning is capped at $500,000 in purchases per calendar year.

So the best way to maximize your points earning with the Amex Platinum card is to use this card for all of your airfare and prepaid hotel purchases. If youre someone who travels often, this will allow you to earn a ton of points.

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Here’s How The American Express Platinum Card Airline Credit Works:

  • Amex automatically gives you $200 per year for fees from one specific airline.
  • You can choose your preferred airline by logging in to your account on American Express Travel Online and selecting from the dropdown menu. Alternatively, you can call the American Express Platinum card Travel Service at .
  • You can select your preferred airline at any time during the first year your account is open. But you can’t change your pick whenever you want. You can only make a change from January 1 to January 31 each year. Otherwise, Amex will use the same airline you picked previously.
  • Unused airline credits do not roll over from year to year. You get no more than $200 each year.
  • The American Express Platinum card airline credit covers fees for: baggage, date changes, bringing pets, picking your seat ahead of time, reservations by phone, in-flight purchases , and extra guest passes for airport lounges.
  • The card’s airline credit does not apply to: airfare, services provided by third parties , gift cards, fees for transferring points, using a travel agent, duty-free purchases or insurance.

With this card’s airline credit, you don’t need to worry about $200 in fees that you’d normally have to pay out of pocket each year. And aside from designating which airline you want the credit for, you don’t have to do anything to redeem.

How To Add Additional Cardholders

If youve decided to add additional cardholders to your Platinum Card account, log into the dashboard for your Platinum Card account. Scroll down to Amex Offers & Benefits, and click Add Someone next to Add an Additional Card Member.

Note that you dont have to enter their Social Security number or date of birth, but Amex requires that you or the additional cardholder add this information within 60 days of when the card is issued or the card will be canceled.

Related: How to maximize benefits with the Amex Platinum Card

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Lounge Access With The American Express Platinum Card

There are several lounge options you can take advantage of as a Platinum Card Member.

Virgin Australia offers the primary Card Member unlimited access to Virgin Australia domestic lounges, including the ability to bring in a guest travelling with you. You and your guest need to be travelling with Virgin Australia to gain access.

American Express also has a growing network of American Express-branded airline lounges and Centurion lounges globally, including one at Sydney Airport International Terminal and another at Melbourne International Airport.

You can bring two guests to the American Express lounges, as well as children travelling with you, and is usually limited to 2 visits a year with most eligible American Express Cards. However, those holding The Platinum Card are able to access American Express and Centurion lounges on an unlimited basis, regardless of which airline you are flying.

Weve written about the other American Express Lounges, mainly located in the US as well as one in Hong Kong, in our guide to the American Express Lounge network.

Youll also receive a Priority Pass lounge membership for you and an Additional Platinum Card Member, with each being able to bring a guest to join them when travelling on the same flight.

Additionally, when travelling with Delta, a Platinum Card Member can access Delta SkyClub lounges.

How To Use Membership Rewards Points From The Amex Platinum Card

A look at the American Express Platinum metal card

The Platinum Card;earns Membership Rewards points, the currency of Amex’s loyalty program. They can be exchanged for statement credits or cash back, used to book travel through Amex’s travel website, or transferred to any of 19 airline and three hotel transfer partners .

Read more: How to earn, redeem, and maximize Amex Membership Rewards points

Membership Rewards points don’t have a fixed value, so it’s a bit tricky to figure out how much they’re worth. To get an idea, Insider’s rewards experts developed a set of points and miles valuations, which approximates the value of each Amex point at 1.8 cents on average, though it’s possible to get a lesser or much greater value depending on how you use them.

The Platinum Card comes with a welcome offer of 100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership, plus 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership. Based on our valuations, 100,000 points are worth about $1,800, which alone makes up for more than two years of the annual fee.

If you transfer points to airline frequent-flyer programs and use them to fly round-trip to Europe or even one-way in first class you could end up getting a much higher value.

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