American Express Platinum Card Review: Unlocking Luxury in 2024

American Express platinum

Luxury comes at a price, and the American Express Platinum Card is the epitome of premium. With a hefty annual fee of $695, this card is designed for those who expect nothing but the best. Let's dive into what makes the Platinum Card from American Express stand out in the world of premium credit cards.

    The Platinum Card from American Express: Basics

    • Card type: Travel and premium.
    • Annual fee: $695.
    • Bonus offer: Earn 80,000 Membership Rewards® Points after spending $8,000 on purchases in the first 6 months of Card Membership. Terms Apply.
    • Rewards:
      • 5 Membership Rewards points per dollar spent on flights booked directly with airlines or with American Express Travel, up to $500,000 spent per year.
      • 5 points per dollar on prepaid hotels booked with American Express Travel.
      • 1 point per dollar on all other purchases. Terms apply.

    Membership Rewards points are worth a baseline value of about 0.5 cents to 1 cent each, depending on how you redeem them. Travel and gift card redemptions are generally the most valuable. Points are also transferable to and can be worth even more if redeemed strategically after being transferred to other travel loyalty programs.

    Foreign transaction fees: None.

    Additional benefits

    • More than $1,500 in annual statement credits toward eligible purchases.
    • Access to airport lounges through the American Express Global Lounge Collection.
    • Cell phone protection. Terms apply.

    Benefits and Perks

    While many travel cards focus primarily on rewards, the Platinum Card from American Express takes a different approach. Yes, the welcome offer for new cardholders is lucrative, but the real value lies in its extensive portfolio of benefits and perks.

    Automatic credits

    • $200 a year for airline incidental fees.
    • $200 a year for hotel bookings.
    • $200 a year for Uber.
    • $300 a year for Equinox gym memberships.
    • $100 a year at Saks Fifth Avenue.
    • Fee credit for TSA Precheck or Global Entry.
    • $189 a year for Clear.
    • $240 a year for digital entertainment. Terms apply.

    Airport lounge access

    The Platinum Card from American Express offers unmatched access to airport lounges worldwide — more than 1,300 and counting. They include:

    • The issuer's own Centurion Lounges and International American Express lounges.
    • Delta Sky Clubs, when flying Delta.
    • Priority Pass Select lounges (enrollment required).
    • Lounges in the Plaza Premium, Escape, and Airspace networks.

    Hotel benefits

    • Marriott: Upgrade to Gold Elite status.
    • Hilton: Automatic Gold status.
    • The Hotel Collection: Automatic upgrade and $100 credit.
    • Fine Hotels & Resorts: Automatic room upgrades and amenities.

    Other goodies

    • Cell phone protection.
    • Concierge service.
    • Global Dining Access by Resy.
    • By Invitation Only.
    • Preferred Seating.

    Drawbacks and Considerations

    While the benefits of the Platinum Card from American Express are undeniable, it's essential to consider whether the hefty annual fee justifies the perks.

    • That annual fee: At $695, the annual fee is among the highest in the industry.
    • Limited rewards earning: Except for certain travel spending, you won't earn more than 1 point per dollar.
    • Limited-use credits: While the list of annual statement credits is impressive, you need to use them to get any benefit. This might not be easy if you don’t live in a city with Equinox gyms or an airport served by CLEAR. Terms apply.

    In conclusion, the Platinum Card from American Express is not for everyone, but for those who expect the best and are willing to pay for it, it offers unparalleled luxury and a suite of perks tailored to high-end lifestyles.

    Should you require any further information, please do not hesitate to drop us a line in the comment section below. Alternatively, you can also tweet us by clicking the icon below.

    Thanks for reading!

    American Express Platinum Card Review: Unlocking Luxury in 2024 American Express Platinum Card Review: Unlocking Luxury in 2024 Reviewed by Rahmat on April 20, 2024 Rating: 5

    No comments:

    Powered by Blogger.