What Are The Downsides To Booking Through Amex Travel
For those of you not familiar, Amex Travel is a full service travel agency:
- You can book hotels through Amex Travel, though the catch is that since theyre essentially a third party agency, you usually wont receive elite credits or benefits if youre staying at a chain hotel
- You can book flights through Amex Travel
Personally Id use this credit towards flights, since theres no downside to booking that way for most airlines. Meanwhile for hotels I continue to prefer to book directly.
This Amex Travel Perk Is Awesome
When this benefit was first announced I figured there would be a bunch of restrictions, like needing to make a purchase of significantly more than $200, restrictions on what type of travel purchases qualify, etc.
As far as Im concerned, the execution of this benefit is the absolute best case scenario. I plan to use this benefit to get $200 worth of airfare, which I more or less consider to be worth face value.
American Express Airline Fee Credit Guide
The American Express airline incidental fee credit, which is a benefit of the Platinum, Gold, and Hilton Aspire cards, can be difficult to use each year.
This post will cover everything you need to know about the annual fee credit and potential loopholes to take advantage of to ensure you can utilize the credit before the end of the year.
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Earning Membership Rewards Points
The earning rate on the Amex Platinum card is not quite as impressive, due to its limited bonus categories. Youll earn 5 points per dollar on flights booked directly with airlines or with American Express Travel as well as 5 points per dollar on prepaid hotels booked with American Express Travel. One caveat is that you can only earn 5X points on flights for the first $500,000 you spend in this category per calendar year . General purchases only earn 1 point per dollar.
Even for frequent travelers, the bonus categories probably dont make up the majority of your budget significantly cutting into rewards potential. If racking up points quickly is more important than luxury travel benefits and credits, you might be better off opting for a less expensive travel card.
The Amex Platinum Cardmatch 150k Offer
New to American Express cards? That seems to be your best bet to qualifying for this 150,000-point offer through CardMatch. Though recently, Amex appears to be targeting more users with excellent credit scores regardless of your history with American Express.
That said, this offer wont be available for all users. Some may be targeted for lower offers like 125,000 or the standard offer of 100,000 points, while others may not see anything through CardMatch at all.
Not getting a bigger offer through CardMatch? You can get a 125,000-point bonus by applying for the Platinum Card through Resy!
Weve seen the already stellar standard welcome bonus on the Amex Platinum card inch up as travelers emerge from the pandemic. For years it was 60,000 points, then it increased to 75,000 after spending $5,000 within the first six months, and now to 100,000 after spending $6,000 in six months.
But this new targeted CardMatch offer of 150,000 easily takes the cake if you can get it.
Screenshot courtesy of creditcards.com. Offer retrieved July 1, 2021
Premium travel perks are the true value of the Platinum Card. That includes unrivaled lounge access, instant hotel status, more than $700 in travel credits split between Uber, airlines, hotels, CLEAR®, and more. But you can easily get $1,500 in free travel from this bonus and likely several times more than that. Check out some of the best ways to use your bonus from the Amex Platinum card.
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What Is A Fee In Accounting
A license fee is the price they pay to offset the rights or services. Rates generally include overhead, salaries, costs and fees. Traditionally, workers in the United Kingdom received royalties in lieu of pay, wages or salaries, and often used guineas as the unit of account instead of British pounds.
Amex Platinum Frequently Asked Questions
Is American Express Platinum free for military?
Yes! The AMEX Platinum card for US military servicemembers AND their spouses has NO annual fee. The normal $695 annual fee is waived under Amex’s interpretation of the Servicemembers Civil Relief Act and Military Lending Act laws.
Where can I apply for the Amex Platinum?What credit score is needed for Amex Platinum?
Usually the Platinum Card for American Express requires good to excellent credit. That means at least 700 points out of a maximum 850 FICO score. You can check your credit score fore free with Credit Karma or Credit Sesame.
Does American Express waive annual fees for military spouses?
Yes, Amex waives all of their annual fees, including on the Platinum card, for US military spouses.
How does Amex waive annual fee for military?
Amex waives the annual fee on all of their cards, including the AMEX Platinum. Cards opened while on active duty are waived with Military Lending Act . Cards opened before active duty are waived with SCRA.
Is the Amex Platinum card metal?
Yes, the Amex Platinum card is made out of metal and will even rust if left in water. The card makes a satisfying thunk sound when you throw it down. You’ll want to pick up the bill for your friends just to drop it on the table!
How do I apply for Amex MLA benefits?How do you know if you are an Amex covered borrower?How to get Amex Platinum fee waived?Which credit cards are fee waived for military?
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What Could Be Improved
Even the top card in the American Express lineup has a few drawbacks.
The Platinum Card® from American Express benefits carry a high price tag. With a $695 annual fee , it’s one of the most expensive cards. To decide whether that fee is worth paying, you’ll need to look at how many of the benefits you can use. You could get thousands of dollars in value every year in spending credits, rewards, and travel and shopping perks. If you don’t think those features will fit your lifestyle, you should look for other options.
Maximize Your Amex Travel Credit
Want to know how to spend your Amex travel credit? If you want to maximize your Amex airline credit, its a good idea to apply for the American Express Platinum card as early in the year as possible. Since your Amex $200 credit starts over annually, youll want to make sure you can take full advantage of your Amex travel credit before the calendar year ends.
With that said, youll also want to make sure youre making enough qualifying airline purchases to maximize your Amex statement credits. The $200 annual Amex airline credit is a use-it-or-lose-it perk so go ahead and check that bag, book that premium seat and make sure you get your moneys worth out of this great card perk.
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Which Card Should You Choose
While The Platinum Card® from American Express and the American Express® Gold Card are both premium rewards cards, they’re different enough that one option may stand out as the best choice for your wallet. Just keep in mind that they are similar in requiring good to exceptional credit to get approved.You can check your credit score for free from Experian. Once you log in to your account, you can also use Experian CreditMatch to see if you’re matched with either card and compare them to other options.
Airport Lounge Memberships Or Day Passes
You can purchase an annual membership or day pass to an airport lounge and get it covered by the Amex airline fee credit.
Eligible lounges include:
- Delta SkyClub
- United Club
The American Express Platinum already offers Delta SkyClub access, so you dont need to buy a membership if you have that card. However, if you want to bring guests, you can purchase access for $29 per person, and that fee will be covered if you selected Delta as your airline.
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Expected Value: Year 1
All of the variations of the Amex Platinum card have a $550 annual fee along with a handful of benefits to offset the annual fee. After factoring in the credits, the effective annual fee is -$150.
$200 airline incidental credit per the calendar year
Up to $100 statement credit to Saks Fifth Avenue, issued semi-annually
Up to $200 Uber credit
Use our calculator here to see how much value you can expect from the Amex Platinum card.
Amex Platinum $20 Cell Phone Credit
The Amex Platinum Card is offering a $20 monthly credit for cell phone bills:
- This is exclusively for wireless telephone services purchased directly from US service providers
- Theres no registration required
- This is a limited time benefit, valid May through December 2020
- This is potentially worth up to $160, though you only get one $20 credit every calendar month
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Does It Matter If You Already Have The Personal Amex Platinum Card
You might also wonder whether having the personal Amex Platinum card precludes you from getting the Business Platinum Amex and its welcome offer.
Luckily, Amex considers these two cards as , so if you already have the personal version, it shouldnt make a big impact on your ability to apply for the business one.
Should I Get The Amex Platinum Or Amex Gold Card
While the unique Amex Platinum bonus category is worth more points than all Amex Gold bonus categories, I will pick three reliable bonus options every day instead of one valuable option. This is where Amex wins the gold. On the topic: Who should get an Amex Gold card?
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Approval Factors And Benefits For The American Express Platinum Card
Use this guide to jump to specific approval factors and benefits:
With its generous welcome bonus, tiered purchase rewards, annual travel credits, and fringe benefits that will make any frequent flier drool , the Amex Platinum metal credit card is highly sought after.
But, the Amex Platinum has a high annual fee of $695 .
While many travelers have their eyes on it, how hard is it to get The Platinum Card® from American Express? Lets find out what the Amex Platinum requirements are.
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Amex Platinum Credit Card: An Overview
The Amex Platinum is a premium credit card that offers a welcome bonus, luxury perks, and other value-added services. Cardholders benefit from Uber credits, airfare discounts, bonus points, cashback and much more. Unlike typical credit cards, this card allows you to carry a balance for certain charges, but not all.
There is a catch, though: the Amex Platinum carries a $695 annual fee which is high compared to other options.
Many people are happy to pay the annual fee because of the incredible perks attached to the Amex Platinum. If youâre calculating whether the cost is worth it, potential applicants must understand whether their lifestyle and financial circumstances are a good fit for the Amex Platinum Card.
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Get Another Card First
If you have a limited card history, a credit score below 740, or both, you might consider getting another American Express card first.
This is only one of the best American Express business cards you can get. If you have another Amex business card first, it can let you prequalify for the Business Platinum Card.
For example, The Blue Business® Plus Credit Card from American Express doesnt charge an annual fee and earns 2x Membership Rewards® points on the first $50,000 spent annually on everyday business purchases .
Similarly, the American Express Blue Business Cash Card earns 2% cash back on all eligible purchases on up to $50,000 per calendar year, then 1%. Cash back earned is automatically credited to your statement. It also doesnt have an annual fee . Learn more about the Amex Blue Business cards.
As a current American Express cardholder, its possible that Amex will do a soft credit pull. This is a penalty-free way to see if you qualify for the Business Platinum Card.
How Do You Calculate Annual Percentage
Divide the recurring interest rate by 100 to convert it to a decimal, then add 1. Increase the result by the number of compounding periods in the year, then subtract 1 to get the decimal APY. Multiply it by 100 to convert it to a percentage.
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What Unofficially Works For The Fee Credit
There are several different purchases that officially dont qualify as reimbursable by the American Express airline credit, but nonetheless typically trigger the fee credit such as flights under $100 or upgrades.
These purchases are not guaranteed to work, but we provided links to FlyerTalk forum topics on each credit, so that you can review recent data points to see if anything has recently changed.
How To Get Your Fees Waived
In order to get the annual fee waived on your Amex Platinum Card, you will need to request it. It doesnt happen automatically.
American Express recommends submitting this form online or calling 1 253-1720 to request your benefits. Be prepared to give basic information and answer qualifying questions that confirm your military status. The confirmation process generally takes a few days but can take up to a month in some situations.
You may receive an initial charge for the annual fee, but youll get a statement credit for the fee amount once youre approved for SCRA benefits.
And remember that that spouses also qualify. If yours has any American Express cards, we recommend having them submit a request for themselves.
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Charles Schwab American Express Platinum Card
The Charles Schwab American Express Platinum Card is only available to Schwab clients with eligible accounts such as a Schwab One or a general brokerage account.
- Annual fee of $695, not waived the first year
- Currently has a 100,000 Membership Rewards points signup bonus after $6,000 spend in six months
- 5 x points on flights booked directly with airlines or through American Express Travel
- 5 x points on prepaid hotels booked through American Express Travel
- 1 x point on everything else
- Hilton Honors and Marriott Bonvoy Gold status
- $200 airline incidentals credit
- $100 Saks Fifth Avenue credit
- $240 digital entertainment credit
- $300 Equinox credit
- $200 Hotel credit when booking a prepaid Fine Hotels and Resorts or Hotel Collection stay through American Express Travel
- $179 CLEAR credit
- Global Lounge Collection access including Centurion Lounges, Delta SkyClubs, and Priority Pass Lounges, etc.
- Cell phone protection up to $800 when you pay your monthly cell phone bill with your American Express Platinum Card
- And more
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American Express Transfer Partners
In many cases, transferring Amex Platinum points can significantly boost their value. Plus, the transfer partner list includes major airline and hotel programs, making it easy to apply rewards toward travel to any destination.
|Tip: The Amex Platinum card is a good choice for frequent flyers on Delta Air Lines. Delta is a special partner of Amex, and the Platinum card features many perks with Delta, including point transfer to Delta Air Lines and Delta Sky Club access.|
How To Get Approved For Amex Platinum
The American Express Platinum has long been the premium travel reward card.
Surprisingly, for a luxury card with a $695 annual fee , the average cardholder credit score isn’t quite as high as you would expect.
Read on to learn about Amex Platinum and what it takes to get approved. See if you qualify.
We’ll explain more below. But first, let’s highlight the current American Express Platinum promotions.
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What Are The Requirements For American Express Platinum Annual Fee
The annual fee for the card is $550. What credit do I need to earn American Express Platinum? To be eligible for the American Express Platinum Card you must have good to very good credit. This is generally defined as a credit rating of 690 or higher. Issuers often look at your current debt, income and other important information.