American Express Platinum Card evaluation – The Points Guy

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American Express Platinum Card evaluation – The Points Guy


Editor’s word: This is a recurring publish, frequently up to date with new info and gives.


The Platinum Card® from American Express overview

While it has a excessive annual payment, The Platinum Card® from American Express is among the prime premium journey rewards playing cards. As a cardmember, you’ll earn precious Membership Rewards factors, obtain as much as $1,500 in annual assertion credit (so long as you may reap the benefits of them) and obtain entry to an intensive community of airport lounges worldwide. Card ranking*: ⭐⭐⭐⭐½

*Card ranking is predicated on the opinion of TPG’s editors and isn’t influenced by the cardboard issuer.

Nowadays, it appears each financial institution, airline and lodge gives a premium journey rewards card. But for a very long time, The Platinum Card from American Express was the one premium rewards card in the marketplace. If you had an Amex Platinum Card, with its modern design and hefty steel weight, there was a way of cachet.

That nonetheless exists, despite the fact that a number of competitors within the luxurious card class have emerged lately, together with the Chase Sapphire Reserve and the Capital One Venture X Rewards Credit Card. When you stack them up in opposition to each other, the Amex Platinum shines in methods the others don’t. But it falls flat in some areas, too.

The Amex Platinum has undergone vital modifications lately and carries a steep $695 annual payment (see charges and costs) — one of many highest in the marketplace. That’s why individuals usually ask whether or not the Amex Platinum continues to be well worth the annual payment, even with the brand new perks.

It nonetheless ranks as one of many greatest journey bank cards on the market. However, that doesn’t imply it’s proper for each traveler.

Let’s dig into the main points and advantages to see whether or not having the Amex Platinum in your pockets is sensible for you.


Apply now: The Platinum Card from American Express with an 80,000-point bonus.


Amex Platinum Welcome provide

The present welcome bonus for the Amex Platinum is 80,000 Membership Rewards factors after you spend $6,000 on purchases inside the first six months of cardmembership. According to TPG’s month-to-month valuations, Amex Membership Rewards factors are price 2 cents every, making this bonus price $1,600. That is almost 3 times the cardboard’s $695 annual payment.

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Amex typically gives as much as 150,000 factors to focused people by way of the CardMatch device, by way of snail mailings and even when logging in to their different card accounts on-line in some circumstances. These gives are topic to alter at any time and should not essentially obtainable to everybody.

Earning factors on the Amex Platinum

RYAN PATTERSON/THE POINTS GUY

With the Amex Platinum, you’ll earn 5 factors per greenback on airfare bought straight with the airways or by way of the Amex Travel portal (on as much as $500,000 of airfare purchases per calendar 12 months). Plus, you’ll earn 5 factors per greenback on pay as you go resorts booked with Amex Travel.

These 5-point classes are a superb method to earn plenty of Membership Rewards factors. Based on TPG valuations, incomes 5 factors per greenback offers a ten% return.

All different purchases earn simply 1 level per greenback, however Platinum cardmembers are eligible for focused Amex Offers that would increase incomes charges at varied retailers (together with Amazon).

Redeeming factors on the Amex Platinum

Membership Rewards factors are one of the crucial precious and versatile loyalty currencies ever created for redeeming factors.

Each Membership Rewards level is price 2 cents, thanks largely to this system’s 18 airline and three lodge switch companions. Those embody a minimum of one useful choice in every main airline alliance (SkyCrew, Star Alliance and Oneworld).

Transferring your factors to the suitable airline or lodge program is often one of the best ways to maximize your Membership Rewards factors‘ value. Point transfers are instant to the vast majority of these partners. And even the laggards only take 48 hours at most to transfer in our frequent testing.

RYAN PATTERSON/THE POINTS GUY

You can also use your Membership Rewards points to book travel directly through American Express Travel. But if the personal Amex Platinum is the only Amex card in your inventory, using points for airfare and hotel redemptions this way won’t get you superb worth. You’ll get only one cent per level while you redeem the factors straight for airfare at Amex Travel and fewer than 1 cent per level when redeeming for lodge rooms.

However, suppose you even have The Business Platinum Card® from American Express. In that case, you’ll get one of many highest direct level redemptions obtainable. This outcomes from the 35% factors rebate for first-and business-class flights on any airline plus financial system flights in your chosen airline (as much as 1 million bonus factors again per calendar 12 months).

Related: Here are 9 of our favourite methods to make use of Amex Membership Rewards factors

Amex Platinum advantages

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Of course, what really units The Platinum Card from American Express aside is the truth that it confers among the greatest membership advantages of any card. Let’s have a look:

  • Up to $200 in assertion credit yearly for incidental charges charged by one airline you choose.*
  • Up to a $200 annual lodge credit score, within the type of an announcement credit score, on pay as you go Amex Fine Hotels + Resorts or The Hotel Collection bookings with Amex Travel while you pay together with your Amex Platinum (Hotel Collection stays require a two-night minimal).*
  • Up to $200 in Uber Cash, break up into month-to-month $15 credit for U.S. rides plus a $20 bonus in December.*
  • Up to $189 in annual Clear credit score to cowl your annual membership.*
  • Up to $240 in annual digital leisure credit score, within the type of $20 in month-to-month assertion credit while you pay for eligible purchases with the Amex Platinum at eligible companions.*
  • Up to $300 in annual Equinox credit score on Equinox fitness center and Equinox+ app memberships.*
  • Up to a $155 assertion credit score that covers the price of a month-to-month Walmart+ membership when paying with the Amex Platinum. Plus Ups are excluded.
  • Up to a $100 assertion credit score for Global Entry each 4 years or an $85 payment credit score for TSA PreCheck each 4½ years (relying on which utility payment is charged to your card first).
  • Up to a $100 Saks Fifth Avenue credit score, break up into two $50 assertion credit between January and June, then July by way of December.*
  • Access to the American Express Global Lounge Collection, together with Centurion Lounges, Priority Pass lounges, Airspace lounges, Escape lounges, Plaza Premium lounges and Delta Sky Clubs (when touring on same-day Delta flights).*
  • Complimentary Gold standing with Hilton Honors and Marriott Bonvoy.*
  • Complimentary automotive rental standing: Hertz Gold Plus Rewards President’s Circle, Avis Preferred Plus and National Emerald Club Executive.*
  • Access to Amex Fine Hotels + Resorts and The Hotel Collection.
  • If your journey is delayed by greater than six hours due to a lined motive, it’s possible you’ll be eligible to be reimbursed as much as $500 per lined journey for cheap extra bills. (Underwritten by New Hampshire Insurance Company, an AIG Company.)**
  • If it’s good to cancel or interrupt your journey due to a lined motive, it’s possible you’ll be eligible for reimbursement of as much as $10,000 per lined journey. (Underwritten by New Hampshire Insurance Company, an AIG Company.)**
  • Extended guarantee profit extends eligible producer’s warranties of 5 years or much less by as much as one extra 12 months. (Underwritten by AMEX Assurance Company.)**
  • Purchase safety protects current purchases in opposition to theft, unintended harm or loss for as much as 90 days from the acquisition date. (Underwritten by AMEX Assurance Company.)**
  • Return safety on eligible objects inside 90 days from the acquisition date if the service provider gained’t take the merchandise again.**

*Enrollment is required for choose advantages.

**Eligibility and profit stage varies by card. Terms, situations and limitations apply. Please go to americanexpress.com/benefitsguide for extra particulars.

Which playing cards compete with the Amex Platinum?

Some different compelling premium bank cards go head-to-head with the Amex Platinum:

  • If you need a a lot decrease annual payment: Capital One’s premium rewards card, the Capital One Venture X, packs a punch and comes with a extra reasonably priced $395 annual payment. The Venture X is doubtlessly extra profitable than the Amex Platinum relating to incomes, accruing 10 miles per greenback on resorts and automotive leases booked through Capital One Travel, 5 miles per greenback on flights booked through Capital One Travel and an infinite 2 miles per greenback on all the things else. For extra info, learn our full evaluation of the Venture X.

For extra choices, try our full record of one of the best playing cards for journey rewards and lounge entry.

Read extra: The greatest premium bank cards: A side-by-side comparability

Bottom line

Suppose you may take full benefit of greater than $1,400 in annual assertion credit yearly. In that case, The Platinum Card from American Express is among the most compelling rewards playing cards, particularly if you happen to journey sufficient to make the lodge statuses and lounge advantages helpful or store sufficient to get substantial worth from the purchasing protections.

The Amex Platinum’s $695 annual payment is steep. But the varied annual credit can recoup the complete price (and extra), even earlier than contemplating the cardboard’s different perks.

Official utility hyperlink: The Platinum Card from American Express

Check the CardMatch device to see if you happen to’re focused for a 125,000- or 150,000-point Platinum Card provide (after assembly minimal spending necessities). These gives are topic to alter at any time.

For charges and costs of the Amex Platinum, click on right here.

Additional reporting by Ryan Wilcox, Chris Dong, Stella Shon, Katie Genter and Eric Rosen.

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