The Platinum Card® from American Express
The Platinum Card® from American Express Review
- Nice initial bonus. The American Express Platinum Card gives you 60,000 bonus points for spending at least $5,000 within three months of account opening, which are worth about $510 on average, according to WalletHub research. That’s very good, representing roughly five times as much value as the average initial bonus.
- Naughty annual fee. The Amex Platinum Card’s main claim to fame, aside from its luxurious travel rewards, is a whopping $550 annual fee. That alone will turn a lot of people off, but frequent travelers can definitely still get their money’s worth from the card’s rewards and other perks.
- Solid travel rewards, with some limitations Amex Platinum gives you 5 points per $1 spent on airfare, as long as you book directly with the airline or through American Express. You’ll also get 5 points per $1 spent on prepaid hotel reservations booked through Amex. That equates to about 4.25% cash back, which is great compared to the 1.06% you’d earn with the average cash rewards card. But that’s not the real star of the Amex Platinum rewards show. You also get $200 per year in statement credits for baggage fees and other airline incidentals (with one qualifying airline) as well as $200 in annual Uber credits. And the main event for many is the access the Platinum Amex provides to 1,000+ airport lounges worldwide, including the Amex Centurion Lounge network. But remember, such perks are only good if you use them.
- Automatic hotel status. As an American Express Platinum Card user, you will be able to join Hilton and Starwood’s loyalty rewards programs as a Gold member without meeting any of the standard spending requirements. This gives you access to perks such as complimentary room upgrades and enables you to earn free nights faster. For more information about these loyalty programs, check out WalletHub’s Hilton Honors and Starwood Preferred Guest reviews.
- You have to pay in full. American Express Platinum is a charge card, which means you must pay your monthly bill in full if you want to continue making purchases — unless certain charges qualify for the “Pay Over Time” feature, which allows you to carry an interest-accruing balance. So you’ll need to find another card for big-ticket purchases.
- No go without good credit or better. The American Express Platinum Credit Card requires good or excellent credit for approval, so make sure to check your credit score for free on WalletHub before applying.
Feb 13, 2019
The Platinum Card® from American Express' Rewards
- Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
- Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
- 5X Membership Rewards points on prepaid hotels booked on amextravel.com.
- Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
- $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
- Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. Enrollment required.
- Terms Apply.
The Platinum Card® from American Express' Key Fees
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ANNUAL FEE
$550
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FOREIGN TRANSACTION
FEE
None
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LATE FEE
$38
The Platinum Card® from American Express' Additional Info
- $550 annual fee.
- This American Express Card has no preset spending limit, giving you purchasing power that adjusts with your use of the card.
- No preset spending limit does not mean unlimited spending. Your purchases are approved based on a variety of factors including spending patterns, your payment history, your credit history, and financial resources known to us.
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Customer Questions and Answers
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How do you get the Amex Platinum airline credit? Reply 1
The Amex Platinum airline credit pays you back for up to $200 in fees from one airline every year. This credit applies to fees charged for things like checked baggage, date changes, pet travel, in-flight purchases and more. To get the Amex Platinum airline credit, you just have to tell American Express which airline you want the credit to apply to. Then, Amex will automatically reimburse you with statement credits after that airline charges fees to your card. To choose your airline, simply log in to your Amex account here.
Here’s how the Amex Platinum airline credit works:
- Amex automatically gives you $200 per year for fees from one specific airline.
- You can choose your preferred airline by logging in to your account on Amex’s airline choice page and selecting from the dropdown menu.
- You can select your preferred airline at any time during the first year your account is open. But you can’t change your pick whenever you want. You can only make a change from January 1 to January 31 each year. Otherwise, Amex will use the same airline you picked previously.
- Unused Amex Platinum airline credits do not roll over from year to year. You get no more than $200 each year.
- The Amex Platinum airline credit covers fees for: baggage, date changes, bringing pets, picking your seat ahead of time, reservations by phone, in-flight purchases (food, drinks, entertainment), and extra guest passes for airport lounges.
- The Platinum Card’s airline credit does not apply to: airfare, services provided by third parties (e.g. Wi-Fi), gift cards (officially; some people say it works), fees for transferring points, using a travel agent, duty-free purchases or insurance.
With the Amex Platinum airline credit, you don’t need to worry about $200 in fees that you’d normally have to pay out of pocket each year. And aside from designating which airline you want the credit for, you don’t have to do anything to redeem.
Your first $200 in eligible charges each year will automatically be taken care of. Your transaction history will show “AMEX Airline Fee Reimbursement,” with the dollar amount Amex subtracted from your balance.
How does the Amex Platinum Priority Pass work? Reply 1
The Amex Platinum Priority Pass benefit gives you access to more than 1,000 airport lounges around the world. It’s a $399-per-year value. Plus, Priority Pass is just one of the six chains of airport lounges that Amex Platinum gives you access to for free. It also gets you into The Centurion® Lounge, International American Express Lounges, Delta SkyClub, Airspace and Escape Lounges. You can use the Amex lounge finder tool to see which lounges are in the airport you’re headed to.
Out of all the lounge programs you get access to with Amex Platinum, Priority Pass is special because it’s the only one that requires enrollment. You’ll need a membership card, not just Amex Platinum, to enter Priority Pass lounges.
Here’s how to get your Amex Platinum Priority Pass benefit:
- Use this link and log into your Amex account with your username and password.
- Follow the onscreen instructions to enroll.
- Wait for your card to arrive. It should take 10-14 business days.
If you don’t want to enroll online, you can do it by phone by calling the number on the back of your credit card. Once you receive your membership card in the mail, just show it at the entrance to any Priority Pass lounge and you’ll be admitted. You can bring in guests, too, although individual lounges can limit the number of people you’re allowed. Once inside, you’ll get to enjoy amenities like free food and beverages, Wifi, comfortable seating, and more.
How does Amex Platinum car rental insurance work? Reply 1
Amex Platinum car rental insurance covers cardholders for up to $75,000 in collision damage and theft for vehicles rented with the Amex Platinum credit card or American Express rewards points. To get Amex Platinum car rental insurance coverage, you must decline the rental agency’s supplemental insurance policy. To make a Platinum Card rental car insurance claim, call 1-800-338-1670 within 30 days of a covered incident.
There are a few exceptions you should be aware of, though. And there are more details about the process you’ll need to follow to actually get your money. You can find the key points below.
Amex Platinum Car Rental Insurance Info:
- You’re covered up to $75,000 per claim for collision damage or theft.
- You must pay for the entire rental with your Amex Platinum card or rewards points.
- You must decline the rental agency’s insurance policy.
- The following types of vehicles are not covered by Amex Platinum rental car insurance: Cargo vans, vans that carry 9+ people, box trucks, trucks that weight 10k+ lbs., modified vehicles (except for handicapped accessibility), antiques, limos, off-road vehicles, motorcycles/motorbikes/mopeds, RVs, golf carts, and a few others.
- The following situations and types of damage are not covered by Amex Platinum rental insurance: Manufacturing defects, wear and tear, damage from illegal activities, accidents caused by driver’s intoxication, seizure by authorities, damage by war, and a few others.
- To make an Amex Platinum rental car insurance claim, call 1-800-338-1670 within 30 days of the incident. You can also call 1-216-617-2500 collect from abroad. Amex will then mail you instructions for what to do next. You’ll have 60 days to return any proof they request, which may include damage estimates, police reports, etc.
Amex Platinum rental car insurance will reimburse you within 90 days of American Express receiving your proof of the incident. Before you rent a car with your Amex Platinum card, you should take some time to read through the benefits guide. It will give you the full information.
What are the usual American Express Platinum credit score requirements? Reply 1
To apply for the American Express Platinum card, you need to have a good or excellent credit score. This means you need a credit score of at least 700.
The Amex Platinum credit score requirements are a bit high to attain, but that's to be expected from an elite travel rewards credit card.
What are the biggest American Express Platinum travel benefits? Reply 6
The biggest American Express Platinum travel benefits are a 60,000-mile initial bonus, complimentary Gold Status in the Hilton Honors and Starwood Preferred Guest loyalty programs, a $200 annual airline credit, and 5 points per $1 spent on flights and hotels booked through American Express Travel. There’s also a monthly Uber credit, no foreign transaction fee, baggage and travel insurance, and premium roadside assistance.
Amex Platinum is a charge card, which means you’ll have to pay the balance in full every month. Plus it has a $550 annual fee. So you need to make sure you’ll get your money’s worth from its travel perks before you apply.
Here is a rundown of the American Express Platinum travel benefits:
- Annual Airline Credit
$200 in credits per year for baggage fees, in-flight meals and other airline incidentals. You can’t use the credit for airfare, gift cards, upgrades, duty–free purchases or award tickets.
- Credits for Uber Rides
Up to$15 in credits for Uber rides each month, plus a bonus $20 in December ($35 total). The credits expire at the end of each month.
- Complimentary Hotel Status
Cardholders can join Hilton Honors and SPG as Gold-level members for free. Members get complimentary room upgrades and more opportunities to earn free nights.
- Initial Bonus Miles
60,000 bonus points when you spend $5,000 in your first three months. Points are redeemable for around $500 in travel-related purchases, merchandise or gift cards. Points do not expire as long as the account remains open.
- Reward Points for Travel Purchases
Earn 5 points for every $1 spent on travel purchases booked through AmexTravel.com. Earn 1 point for every $1 spent on all other purchases.
- Global Entry or TSA PreCheck Credit
Credit for the $100 Global Entry application fee or the $85 TSA PreCheck application fee, once every four years. Both services expedite re-entry into the U.S. when traveling abroad. Cardholder eligible for statement credit every four years.
- Baggage Insurance
Pays replacement costs for carry-on baggage, up to $3,000 per covered person per covered trip. Pays up to $2,000 for checked baggage.
- Car Rental Insurance
Covers eligible rental vehicles for up to 30 days against damage and theft up to a maximum of $50,000. Does not cover intoxicated/reckless driving, damage to other vehicles or injuries to people in other vehicles.
- Travel Accident Insurance
Covers you and your family for accidental death or dismemberment while traveling on a common carrier (plane, train, boat or bus), up to $100,000 per person.
- Premium Roadside Assistance
Gives free service to the cardholder 4 times annually. Includes towing up to 10 miles, winching, jump starts, tire changes if you have a spare, lockout service, and 2-gallon fuel delivery. You owe any extra cost for towing more than 10 miles or additional services.
Despite all of American Express Platinum’s travel perks, the $550 annual fee might still be too much. There are some other good options, fortunately. One is Chase Sapphire Preferred. You’ll earn 50,000 bonus points when you spend $4,000 in your first three months. That’s worth $625 when redeemed for travel. And the $95 annual fee is waived the first year.
The higher-end Sapphire Reserve Card is Platinum’s closest competitor. It shares most of the same features as Sapphire Preferred, but has an initial bonus worth $750 in travel. It also has a $300 annual travel credit and a $450 annual fee.
What are the eligible American Express Platinum hotels? Reply 3
There are more than 1,000 American Express Platinum hotels. American Express Platinum hotels are properties that belong to the 86 brands in Amex’s “Fine Hotels & Resorts” collection. Four Seasons, Hyatt, Ritz-Carlton and Waldorf Astoria are just a few of the available options.
Amex Platinum hotels give cardholders perks ranging from room upgrades to meal credits at no extra cost. You just need to book reservations through American Express using your Platinum card to benefit.
Here are the American Express Platinum hotel benefits:
- A free room upgrade, if available. (You still pay taxes/fees). The hotel will check for an upgrade when you arrive.
- Breakfast for two people each day.
- Check-in from noon onward, if available. This varies by location.
- Guaranteed late check-out until 4pm.
- Free Wi-Fi.
- One “unique amenity” ($100 minimum value). It varies by hotel but could be, for example, a credit for food and beverages or spa services.
To book your Fine Hotels & Resorts stay, just log into your American Express account here. Then, you can search for a hotel by the brand or destination. You can check for open rooms for the dates you want to travel. Once you complete your search, you’ll be able to see the cost and any special offers that are available (e.g. a complimentary fourth night stay). Once you book using your American Express Platinum card or rewards points, you’re all set.
It’s also useful to note that you can book pretty much any hotel with your American Express Platinum card. You’re not limited to booking Fine Hotels & Resorts. They just have added benefits.
How do I earn and redeem Amex Platinum points? Reply 1
Cardholders earn 5 Amex Platinum points per $1 spent on flights and hotels, plus 1 point per $1 on everything else. To qualify for Amex Platinum’s 5 points per $1 bonus rewards rate, flights must be booked through the airline or Amex, and hotels must be booked through Amex. Amex Platinum also has an initial bonus of 60,000 points for spending $5,000 in the first 3 months.
There are lots of different ways to redeem Amex Platinum points. You can use them to book travel through Amex, get gift cards or cash back, shop online, and even make charitable donations. Amex Platinum points are worth 0.6 cents to 1 cent each in most cases.
Here’s how to redeem Amex Platinum points:
- Book travel through Amex. Log in to your account via the Amex travel portal. Search for the transportation and accommodations you want to book. At the checkout, there will be an option to pay with points. Points are worth 1 cent each toward flights and 0.7 toward other travel costs.
- Transfer points. You can move your points to 18 airline and 3 hotel loyalty programs. To do so, log in to your Amex account here and choose your loyalty program. You must transfer in 1,000-point increments. Most programs, but not all, transfer at a 1:1 ratio.
- Get gift cards. Log in to Amex’s gift card reward page to make your selection. There are dozens to choose from, from restaurants and movie theaters to airlines and bookstores. Points are worth up to 1 cent each toward gift cards, but can be worth less for certain brands.
- Donate. You can make a tax-deductible charitable donation with your rewards points by logging in at Amex’s JustGiving page. Points are worth 0.7 cents each toward charity.
- Pay for Uber. If you connect your Amex Platinum card to your Uber account, you should see a “use points” option in your app.
- Amazon Shop with Points. If you connect your Amex card to your Amazon account, you can use their Shop with Points system to spend points on merchandise. But you’ll only get 0.7 cents per point using this method.
- Statement credit. You can use your points to pay for charges on your statement, at a rate of 0.6 cents per point, by logging in to your Amex account here.
There are a few other ways to spend Amex Platinum points. They’re worth 0.5 cents each toward Ticketmaster or AXS purchases and 0.7 cents each toward Rite Aid purchases, Bestbuy.com, Staples.com and a few other sites. Plus, you can use them at a rate of 1 cent each toward NYC Taxi rides.
Most people will probably spend the bulk of their points on travel, because this is a card marketed toward frequent travelers. But it’s nice to know there are lots of options. It’s best to redeem points often to minimize the chances that Amex devalues them by raising the amount you need for certain redemption options.
What is the Amex Platinum foreign transaction fee? Reply
The Amex Platinum foreign transaction fee is $0. The Platinum card is one of several American Express cards with no foreign transaction fees. The American Express cards that have foreign transaction fees charge 2.7% of any transaction made outside the U.S. Amex Platinum has a hefty $550 annual fee, so its $0 foreign transaction fee is a welcome break.
Are the American Express Platinum travel perks worth it? The annual fee just seems like so much. Reply 2
The Platinum Card® from American Express Reviews
Share your insights and review the The Platinum Card® from American Express.
It's a fantastic card by itself but it really shines for travel. Accepted everywhere, no foreign fees, and if you're in a pinch the concierge service can be really helpful.
The Platinum Card really distinguishes itself from the other big cards with it's convenience, great features, and ease of use. It's even better than the Discover Rewards Card which isn't as ubiquitous abroad and has foreign transaction fees.… show more
With the card you earn 1 point per dollar spent. You also earn 40,000 points if you spend $3,000 on purchases in your first 3 months. As it is an Amex the balance must be paid off each month. There are no foreign transaction fees and they offer a concierge service. This would be useful for an international business traveler.
For comparison sake, I also looked at the Blue Cash Preferred from American Express. The annual fee on that card is only $75. The Blue card does allow you to carry a balance and the APR is between 12.99%-21.99%. With that card you earn between 1 and 6% cashback. If you spend $1000 in the first three months you get a $150 statement credit.
I'd suggest this card for international business travelers with expense accounts. For users on more of a budget the Blue Cash Preferred or other rewards cards are a much better deal.… show more
There's a $200 annual airline credit, but the purchaser of the card needs to declare the one airline they can use it on? Why? Why is that even a thing? Why can't they use the credit wherever? That seems like one of those catches that keep you from ever ACTUALLY being able to use a benefit. That's just Murphy's Law. When you need a flight, that $200.00 credit will still not make the flight you CAN use it on cheaper than that flight over there. So, it becomes pointless and frustrating.
Ultimately, though, the $450 annual fee is STEEP. Right there, the platinum Card from American Express is a no-go. Why? You don't have a preset spending limit, but you can approve or deny purchases? So, there ARE limits on spending. If I don't have that one advantage, why would I ever pay an annual fee don't require them?… show more
$200 Airline Fee Credit
Select a qualifying airline and then receive up to $200 a year in statement credits when incidental fees, such as baggage fees, flight-change fees, in-flight food and beverage purchases, and airport lounge day passes, are charged by the airline to your Business Platinum Card Account.*
But when needed... beware of this:
"Our records indicate you have already selected an airline and are not eligible to change your selection at this time.
You are eligible to change your airline selection once a year in January. No action is required if you would like to keep your current airline selection in the future."
Read well....they only allow this benefit for ONE selected airline and cant not modify till january next year...that means if you have selected in your profile AA and your trip error was with DELTA ..you wont get any fee credit.… show more
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Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
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Last updated on: February 13th, 2019 at 16:01
If you are interested in the The Platinum Card® from American Express, check out the following credit cards as well:
The Platinum Card® from American Express is related to the following categories:
WalletHub is an independent comparison service.
We work hard to show you up-to-date product terms, however, this information does not originate from us and thus, we do not guarantee its accuracy. When you click "Apply Now" you will be directed to the offering institution's website. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicant's' creditworthiness and differences between an individual's situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.
Ad Disclosure: Offers originating from paying advertisers are noted as “Sponsored” at the top of this page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.
Editorial Disclaimer: Editorial and user-generated content on this page is not provided, commissioned, reviewed, approved or otherwise endorsed by the issuer. In addition, it is not issuer’s responsibility to ensure all posts and/or questions are answered.
Offer last updated: Feb 13th, 2019 at 16:01 ET