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finder.com’s rating: 4.4 / 5.0
★★★★★
60,000
Points as welcome offer
Up to 5x
Points
$550
Annual fee
670
Recommended credit score
| Product Name | The Platinum Card® from American Express |
|---|---|
| Card type | American Express |
| Annual fee | $550 |
| Purchase APR | N/A |
| Balance transfer APR | N/A |
| Cash advance rate | 26.74% variable |
| Cash advance fee | $10 or 5% of the cash advance amount, whichever is greater |
| Foreign transaction fee | None |
| Late payment fee | Up to $39 |
| Returned payment fee | Up to $39 |
| Additional cardholder fee | $175 |
| Rates & fees | rates & fees |
Review by
Kevin Joey Chen is a credit cards, banking and investments writer who has written over 450 Finder articles. As a digital nomad, Kevin gained experience with credit and debit cards, foreign transactions, exchange rates and budgeting strategies. Now, he aims to help you get the credit cards you need to travel the world like a pro, too.
But what makes this card unique are the premium perks you get, such as complimentary access to more than 1,100 airport lounges worldwide and elite status and benefits at select hotel brands such as Hilton and Marriott. You also get Uber and travel statement credits, and TSA PreCheck and Global Entry fee credits among the other perks.
If you often travel in style, The Platinum Card® from American Express is definitely worth considering.
American Express has announced changes to some of the card’s benefits. The following changes will take effect starting January 1, 2020:
You’ll have a better chance of being approved for The Platinum Card® from American Express if you have at least a good credit score and a relatively high annual income. Apply with a good to excellent credit score of 670 or higher.
Earn 60,000 Membership Rewards points after you make $5,000 in purchases within the first 3 months of opening your account. That’s worth around $600 at the industry rate of 1 point = 1 cent.
Earn 5x points when you book flights directly through airlines or with American Express Travel. You’ll also earn 5x points on prepaid hotels you book through American Express Travel. On all other eligible purchases, you’ll earn 1x points. This is one of the highest rewards rates you can find with a travel credit card.
Receive complimentary access to more than 1,100 airport lounges. These include lounges in the Delta Sky Club, Priority Pass Select and The International American Express collections. You also get complimentary entry into the Centurion Lounges, which are considered among the top airport lounges in the world.
On one qualifying airline of your choice, you’ll receive up to $200 per calendar year in statement credit for incidental fees, like checked baggage charges and in-flight purchases. You can choose which airline to get your credit with from the following: Alaska Airlines, American Airlines, Delta Airlines, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, Spirit Airlines, Southwest Airlines and United Airlines.
When you apply for TSA PreCheck or Global Entry, pay the application fee with your Amex Platinum Card and receive approval, you’ll get a statement credit of up to $100 from American Express. You’re eligible for this credit every four years.
Normally, you qualify for Gold Elite status in the Marriott Bonvoy loyalty program after 25 eligible nights in one calendar year. However, with The Platinum Card® from American Express, you can upgrade to Gold Elite status without meeting those requirements.
To attain Gold status in the Hilton Honors program, normally you’d need 20 stays, 40 nights or 75,000 Hilton Honors Base Points. You earn Base Points when you spend on rooms in the Hilton portfolio and other eligible room charges, such as room service. However, with The Platinum Card® from American Express, you can upgrade to Gold without meeting those requirements.
Each month, you’ll receive $15 in Uber credits for US rides, and you’ll get an additional $20 credit in December. If you’re a regular Uber user, these credits can help offset The Platinum Card® from American Express‘s annual fee.
Through the Membership Rewards program, you can transfer your points to select frequent-traveler programs. Transfers are usually a great use of Membership Rewards points, as they can be moved to most frequent-traveler programs at a 1:1 ratio.
Aside from the main benefits, you also get:
You won’t incur fees when you use your card abroad or at foreign websites.
Enjoy complimentary benefits like daily breakfast for two, room upgrades, noon check-in, late checkout and complimentary Wi-Fi when you stay at select properties, including the Four Seasons, Waldorf Astoria, Bellagio, Fairmont, Mandarin Oriental, Park Hyatt, Ritz-Carlton and more.
Stay at least two consecutive nights at a property in The Hotel Collection, and you’ll receive a room upgrade if available — plus up to $100 in hotel credit. You must book through American Express Travel or a qualifying travel service.
Ask Platinum Travel agents for custom itineraries before your escapades around the world. And when you’re more than 100 miles from home, access the American Express Global Assist Hotline for help with emergencies like passport replacements, cash wires or medical issues.
You’ll also receive complimentary membership in the Avis, National and Hertz loyalty programs. When available, you’ll receive upgrades and discounts.
Connect to more than a million Boingo Wi-Fi hotspots around the world at no cost. Normally, the Boingo Global plan costs $39 a month, and you’re limited to 2,000 minutes of access. As the Amex Platinum Card cardholder, you’ll receive unlimited access.
Call the American Express concierge for assistance with dining reservations, gift purchases and getting into select events. Also, get access to By Invitation Only® events, preferred seating at events and Global Dining Collection restaurants and experiences.
You’ll receive extended warranties on eligible items you buy with your card. Also, you may qualify for a refund from American Express if a merchant won’t accept a return within 90 days of purchasing the product. Lastly, with Purchase Protection, your eligible items are covered against theft and accidental loss or damage.
Add an American Express® Gold Card to your The Platinum Card® from American Express account at no cost. You’ll earn Membership Rewards points for all eligible spending on the card.
Receive a $100 Point Card when you earn 10,000 Neiman Marcus InCircle points. You can use Point Cards at Neiman Marcus, Bergdorf Goodman, Last Call, Horchow and CUSP.
Receive a complimentary subscription to Departures magazine, which is published for cardholders of The Platinum Card® from American Express. It highlights what’s new in luxury, in categories like travel, culture, dining, style and shopping.
Airport lounges are a staple of luxury travel. The Platinum Card® from American Express gets you into more than 1,100 of them, including Delta SkyClub, Priority Pass Select and The International American Express Collection. It also gives you access to the world-class Centurion Lounges, which no other card provider can offer.
You’ll find the Centurion Lounges in nine cities:
They’re rare finds and among the best airport lounges you’ll find anywhere. Prior to October 2017, any American Express cardholder could access the Centurion Lounges. And even then, most could enter only by paying a fee. Now, only members with The Platinum Card® from American Express, The Business Platinum® Card from American Express, American Express Corporate Platinum Card® and Centurion® Card from American Express have access.
The Hilton Honors program is fairly attractive no matter which tier you’re in. Even as a basic member, you’ll receive benefits like digital check-in, complimentary in-room Wi-Fi and late checkout. However, Gold does offer extra perks at select hotels, such as complimentary upgrades and breakfast and more points.
As for Gold Elite status within the Marriott Bonvoy program, you get:
If you plan on staying at Marriott Bonvoy properties — which include Sheraton, Westin, St. Regis, The Luxury Collection and more — Gold Elite status could make your visit significantly more enjoyable.
Sometimes, you can get a better value if you transfer your points to another loyalty program. With the Amex Platinum Card, you can transfer points to these airlines and loyalty programs:
And these hotels:
Liza Schneider
Client Services
I also take advantage of the perks. I have used the concierge service on multiple occasions — Aziz Ansari tickets at Madison Square Garden, the U.S. Open, etc. Note that you don’t get any “deals” on the tickets (that I’ve experienced), but it is nice to have someone at Amex track everything down for you and then automatically bill your card.
We also use the points at least once a year to cover airline tickets and hotels. And we use the Amex Travel portal for bookings. We just went to Encore at Wynn Las Vegas entirely on Amex points. I also like the way it looks, so there’s that.
The Platinum Card® from American Express vs Luxury Card Mastercard® Black Card™
Unfortunately, if you’re looking to carry your balance without paying interest, you may want to consider other cards.
Because The Platinum Card® from American Express is issued by American Express, you might not have as many opportunities to use it overseas as you would with a Visa or Mastercard.
Find a luxury credit card that fits your lifestyle
If you travel often and you use the card’s perks, this card may well be worth it. What’s more, you can easily offset the fee. For example, each year you get:
Using only these perks offset around $425 of your annual fee, making the card cost $125 annually. Add in all the other perks, like hotel elite status and complimentary lounge access where a day pass on average cost around $50, and you are already ahead with the card’s value.
Best credit cards for Uber and Lyft
Customers generally think The Platinum Card® from American Express is an excellent investment, saying the card largely pays for itself with its many perks, such as airline statement credit, Uber credits and lounge access.
American Express Company has been accredited with the Better Business Bureau since 1948 and earns an overall A+ rating. However, as of July 2018, 90% of its reviews are negative and it has nearly 3,000 customer complaints. Amex cardholders generally complain of rude customer service reps, missing statement credit and issues disputing charges.
The company earns a Trustpilot score of 3 out of 10. Many negative reviews cite unhelpful customer service and inflexible company policies. Positive reviews say the company employs pleasant customer service representatives. Overall, your mileage may vary with American Express customer support.
The benefits authorized users will enjoy are:
For a travel card with no annual fee, consider the Bank of America® Travel Rewards credit card. If you’re OK with paying an annual fee, look into the excellent Chase Sapphire Preferred® Card, which has a $95 annual fee the first year and charges $95 every year after. You could also consider the Chase Sapphire Reserve for a more premium option but with a lower annual fee than the Amex Platinum Card.
This is a charge card, so you have to pay your balance in full each month. If that cramps your style, consider another travel card. You can find excellent credit cards with 0% intro APR period.
The number of membership rewards points you earn on eligible airfare and prepaid hotels booked via Amex travel is impressive. But your redemption options are even more impressive as they include:
Note: Membership Rewards points tend to be the most valuable when redeemed for travel and transferred to frequent-traveler programs.
Depending on what you redeem your American Express Membership Rewards points, they are worth between 0.5 cents and 1 cents apiece. The lowest redemption value of 0.5 cents per point goes on shopping with points, while the highest of 1 cent per point goes for booking flights through American Express Travel and on some gift cards.
To apply for The Platinum Card® from American Express, you’ll need to provide the following information:
Compare The Platinum Card® from American Express vs. American Express® Gold Card
You’ll get the most out of The Platinum Card® from American Express if you travel often. If you don’t, consider a card that offers accelerated rewards in everyday categories.
Ultimately, The Platinum Card® from American Express has a high bar to entry — but it packs premium rewards for those who pay the price of admission. If you can use the Uber, airline-fee and Global Entry/TSA PreCheck® credits, the card effectively pays for itself. And you’ll find stellar benefits that no other card provider offers, such as access to the Centurion® Lounges and Gold status in the Marriott Bonvoy and Hilton Honors programs. If you’re looking for a high-class travel card, The Platinum Card® from American Express is a superb choice.
Not convinced this is the card for you? Compare other credit cards to find the best one for your situation.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
Images: AmericanExpress.com
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