The American Express Platinum card annual fee is $695 – a steep price to pay, even for a premium travel rewards card. The fee is included in the first monthly bill after you open an American Express Platinum card account, then each year on your account anniversary. American Express will refund the full American Express Platinum card annual fee if you cancel the card within 30 days of the closing date for the billing statement the fee appears on.
Cardholders can offset the cost of the American Express Platinum card annual fee by spending a lot on travel every year and capitalizing on the card’s substantial benefits and rewards. American Express Platinum card’s initial bonus of 100,000 points will pay for the annual fee, but only for the first year. Other perks, such as the $200 annual credits for both airline expenses and Uber rides, will go a long way toward offsetting the $695 charge every year.
American Express Platinum card cardholders may add up to three authorized users to the account for a single $175 annual fee. The fee applies whether you add one, two or three authorized users. For the fourth and all subsequent authorized users, the annual fee is an additional $175 each.
American Express Platinum card may not be worthwhile for occasional travelers who won’t spend enough in a year to cover the card’s $695 annual fee. A less expensive alternative worth considering is the American Express® Gold Card. It comes with fewer perks and rewards than American Express Platinum card, but its annual fee is $250.
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