Key American Express Platinum Benefits
These cards, as well as several others in the American Express portfolio, earn Membership Rewards on every purchase. Points can be redeemed toward cash back and gift cards or used to pay for travel but those arent your only redemption options. Travelers will appreciate that they can transfer rewards to partnering travel rewards programs for use toward frequent flyer tickets or hotel stays. Currently, there are close to two dozen travel loyalty programs available.
Membership Rewards Airline Transfer Partners
As youd expect with all ultra-premium cards, these cards have no foreign transaction fees. Another similarity across all cards is that youll need good-to-excellent credit for approval.
Luxury Hotel Amenity Credit
With this card, you’ll have access to exclusive rates and benefits at over 1,000 luxury properties when you book through the Fine Hotels & Resorts service. On top of space-available room upgrades, free breakfast for two, late checkout and more, you’ll enjoy up to a $100 hotel amenity credit during each stay. You can use this credit at the spa, restaurants or other on-site amenities.
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.
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A Bigger Welcome Bonus
In addition to all the enhanced travel and lifestyle benefits, new cardholders have the opportunity to earn a very generous welcome bonus. You can earn 100,000 Membership Rewards® Points when you spend $6,000 on purchases on the card in your first six months of card membership. If you redeem the rewards for a 1:1 value, this is worth $1,000.
Before the refresh, new cardholders only earned 75,000 Membership Rewards points after spending $5,000 within six months of account opening.
Scoop Up Your Digital Entertainment Credits
Among the newer perks of the Amex Platinum is the up-to-$240 digital entertainment statement credit, broken down to up to $20 in monthly statement credits when you pay for participating subscription services . While the list of eligible providers remains short, we hope to see Amex add other streaming service options in the coming months. Enrollment is required.
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More Mainstream Brokerage Credit Cards
If this all sounds interesting but isnt quite your cup of tea, here are a few alternatives that fit squarely on Main Street. Im a big fan of the Fidelity® Rewards Visa Signature® Credit Card*. Cardholders earn 2 percent cash back on every purchase as long as they deposit their rewards into an eligible Fidelity account. Options include individual retirement accounts, health savings accounts, 529 college savings accounts, brokerage accounts, cash management accounts and more.
I love the idea of earning additional upside from your rewards. If you invest in stocks, bonds and other appreciable assets, you could watch your free money multiply. The SoFi Credit Card has a similar structure, and that one even makes it easy to invest in cryptocurrency if you wish.
Another idea is the Preferred Rewards program offered by Bank of America, which includes its wealth management division, Merrill. If you have $20,000 in eligible balances , your Bank of America credit card rewards are worth 25 percent more. You get a 50 percent bonus if you maintain $50,000 in eligible balances and a 75 percent bonus if you have $100,000 or more socked away. Especially once you hit that highest tier, Bank of Americas credit cards are tough to top.
Is The Amex Platinum Canada Worth The $699 Annual Fee
Heres the magic in the $699 annual fee: its impossible not to make money by having this card, even after paying the fee.
Heres what I mean.
If you use your 100,000 points in the worst way possible, the card is still worth a minimum of $1,200 to you. Why? Because American Express allows you to apply your points against your statement balance at a value of one cent per point, which means 100,000 points = $1,000. Add in your $200 travel credit and youre at $1,200.
And thats not even considering the other benefits you get from the card. The travel/emergency/baggage insurance and additional purchase insurance , the worldwide airport lounge access, the premium hotel memberships, and everything else you see here everything else you see here are all just cherries on top.
So even if you use your points in the worst way you couldby applying them to your statement balance as a cash equivalentyou still come out ahead.
But if you use them in the ways weve suggested in sections #3 and #4 above, you can reasonably expect to save $2,000 or more after accounting for the annual fee.
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Claiming Your Military Credit Card Benefits And Scra Protections
There are two basic things that need to be done to claim both your no-annual-fee American Express military discount and have SCRA benefits applied to your account. One is done when you first sign up for the card-its important to choose military as your income source when signing up for the card in order to be recognized as eligible for SCRA benefits.
If you did not do this when you signed up for an American Express card in the past, dont worry-you can claim your military credit card benefits by informing AMEX customer service of your status as an active duty military member.
That is the second step you should take when claiming your military discount and your benefits under SCRA. You will be required to submit military orders and/or other proof of service to show you are on active duty and in good standing with your branch of military service.
Remember, if you are a current AMEX card holder, call customer service to request your SCRA benefits and military credit card benefits. If you encounter a customer service rep that does not know about these issues, ask to speak to a supervisor.
Morgan Stanley Free American Express Platinum Card Bottom Line:
In my opinion, if youre gonna have an American Express Platinum Card anyways, then the Morgan Stanley version is probably your best bet. Other than the increased signup bonuses, this card offers you all the perks of the normal Platinum Card and it gives you the opportunity to get a free authorized user and the annual fee waived each year. Sure, there are some hoops to jump through but those are all worth it in my opinion. And like I said, even if you cant meet the monthly minimum requirements each month, you will still save $155/year or $330/year with an authorized user.
What are your guys thoughts on the Morgan Stanley American Express Platinum Card? Will you be opening one? If so, please share your thoughts with us in the comments section below. Thanks for reading!
Disclaimer: Im not a financial advisor and this post is not considered financial advice. You need to figure what works for you or seek advice from a qualified financial planner.
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Building Your History With Amex
A great card to consider is the new Amex Green Card. Thats a solid points earning card that earns 3X on travel and dining and comes with credits for CLEAR and Lounge Buddy that can allow you to offset the annual fee. Its known for being one of the easier Amex cards to get approved for so its a good way to start building up your credit history.
Why You Might Want A Different 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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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.
About The Platinum Card From American Express
The American Express Platinum Card has been around since 1984. It hit the market as a luxury travel card and now offers an even more impressive list of benefits to entice cardholders.
The Platinum Card from American Express shines when it comes to travel rewards. Consumers earn five Membership Rewards points for each dollar they spend on airfare as long as they buy the tickets directly from the airline or from American Express Travel. They also earn five points for every dollar spent on hotels they book through AMEX Travel. Then, they earn another point per dollar spent on other purchases.
Cardholders have the option to boost their reward points from the get-go by earning 60,000 points after making $5,000 in purchases during the first three months. AMEX also offers a $200 annual credit for the airline of the cardholders choice. It cant be used for airfare, but it can be used for baggage fees and other incidentals. Cardholders can switch airlines from one year to the next.
This card also opens doors by allowing cardholders access into more than 1,000 airport lounges around the world, and they receive Gold status with the Hilton HHonors and Starwood Preferred Guests programs. These rewards programs include additional perks for travelers to enjoy.
This card also helps people live the jet-setting life on the road. Cardholders get $200 in Uber credits every year. The credits arent given all at once, but instead awarded on a monthly basis.
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When To Apply For The Amex Platinum Military Card
As soon as you possibly can.
There is a 180 day waiting period for the annual waiver to be processed, so the sooner you get your application in, the better. Also, any discounted fees that you may be entitled to also take that long to process. The application must be processed before being called to active duty.
The Platinum Card From American Express Exclusively For Morgan Stanley
Yet another version of the card, the Platinum Card from American Express Exclusively for Morgan Stanley is similar to the Schwab version of the Platinum card in that you can invest your rewards into a qualifying account. The name makes it clearits only available to Morgan Stanley customers with an eligible brokerage account. For those that qualify, it has a few extra perks compared to the standard card.
The main upside to this card is that you can get a second card for an authorized user for free . If youre in a two-adult household, for example, you can get the free extra card so that your partner also has premium airport lounge access and other travel benefits. Their expenses will also earn points at the same rate and feed into the same Membership Rewards account so you can build your balance faster.
If you have a Morgan Stanley Platinum CashPlus account, youll also receive a $695 Annual Engagement Bonus to help cover the annual fee on your card. Although this money management account wont appeal to everyone, if youre a customer anyway, it can be a strong advantage to choosing this version of the Platinum card compared to another.
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Earn Rs3000 For Applying
While its so good to see this amazing card being given out for FREE, what if I say, you can actually get PAID for applying the card?! Heres how:
- Offer 1: You can take advantage of the supplementary card offer to get Rs.2,000 worth of Amazon vouchers for free. Offer Ends: 30th June 2019
- Offer 2: You get another 2000 Referral Bonus MR points on spending Rs.5,000 in first 90 days . These 2k points are valued at Rs.1000 when redeemed for travel vouchers.
- Total Value = Rs.3,000
So its an amazing card just to get hands on it. And if you can spend Rs.4 Lakhs a year, you get mind-blowing returns on it, as travel vouchers.
How To Apply For The Fee
You can apply for this benefit in one of four ways.
Attn: Servicemembers Civil Relief Act
PO Box 981535
El Paso, TX 79998-1535
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What Are The Walmart Plus Benefits
- Free next-day and two-day shipping with no order minimum. Excludes oversized and Marketplace items.
- Free delivery for groceries and other products from Walmart store as soon as the same day with a $35 order minimum.
- Save on select prescriptions with Rx for as little as $0.
- Save 5 cents per gallon on fuel at Walmart and Murphy gas stations nationwide.
- Scan items as you shop in stores and pay with your phone.
When To Avoid The Amex Platinum Card
While the American Express Platinum credit card can be a valuable tool for travelers and shoppers, it is not the ideal card for everyone. There are circumstances where it may make sense to opt for a credit card from another company that offers a better value in your circumstances.
Low credit quality
Regardless of whether you use your international credit history or your U.S. credit history, you will need an excellent credit rating in order to qualify to for the American Express card. If you’re unsure about your rating, it’s best to check it with your credit bureaus. For eligible countries, you can translate your international credit score into a U.S. equivalent credit score using Nova Credit. You’ll be able to see whether your translated score results in a recommendation to apply for the American Express Platinum card. To see whether your country is eligible, you can visit our homepage.
Individuals who use travel agencies or websites
Do you often book airline tickets through the airlines themselves? Whether it is by visiting their website or calling, direct airline ticket purchases receive the greatest perks from the Amex Platinum card. The 5X membership points offer applies in those circumstances, not when booking through a travel agency or third-party website.
People who buy discount airline tickets
Individuals who donât use Uber or Equinox
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Canadian Platinum Lounge Benefit
On top of the 100,000 Membership Rewards points you can earn with your Amex Platinum Card , you also receive a Priority Pass Prestige membership, which holds a value of $429 USD per year. Priority Pass gains you access to 1,200+ airport lounges around the world without paying a dime.
Every Priority Pass lounge offers free food , free drinks , and many also offer additional complimentary amenities like nap rooms, showers, libraries, printers, and games rooms.
My Priority Pass is definitely the American Express Platinum benefit I use the most, and its completely changed the way that I travel. These days, I really cant imagine flying without stopping into an airport lounge first.
Here are some of the places you can use your Canadian Platinum lounge benefit in Canada:
The 24-hour SkyTeam Lounge in Vancouver :
The National Bank Lounge in Montreal :
Toronto has a whopping seven Priority Pass loungesplus the American Express Lounge at Pearsonand youll be able to access all of them for free.
With the Platinum Card, youre stepping up your travel game in a big way.
Gold Vs Platinum Amex Card: What’s The Difference
Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South Carolina, where he launched his own financial advisory firm in 2018. Thomas’ experience gives him expertise in a variety of areas including investments, retirement, insurance, and financial planning.
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Morgan Stanley Platinum Card Fee Free
Amex Platinum cards come loaded with high end perks such as airport lounge access, hotel elite status, airline fee rebates, prepaid hotel rebates, digital entertainment rebates, Uber credit, and in some cases an Annual Engagement Bonus like the one well discuss below.
Amex Platinum cards come in several different flavors. One of the best is arguably the Morgan Stanley Platinum Card because it offers one authorized user card for free. The authorized user gets many of the same perks as the primary cardholder .
Another benefit available exclusively to Morgan Stanley Platinum cardholders is the $695 Annual Engagement Bonus. Morgan Stanley customers who meet certain requirements get back the cards $695 annual fee each year. Those requirements used to be very hard to meet. The old requirements were to maintain a minimum of $1,000,000 in eligible assets and liabilities with Morgan Stanley or have paid at least $10,000 in managed fees/commissions. Now, as we originally learned from Andy at Deals Points, there is a better option