American Express Platinum Card Review

The American Express Concierge Service works as a virtual assistant, helping cardholders secure concert tickets, deliver flowers, make reservations, and much more. It is an exclusive benefit for the American Express Platinum card, the Centurion® Card from American Express, the Delta SkyMiles® Reserve American Express Card and the Hilton Honors American Express Card cardholders. You can contact the concierge service by phone at (800) 525-3355 or by sending an email.

There are no service charges for using the Amex concierge, as it's a complimentary benefit. Any purchases required to complete your request are charged to your credit card. Most cardholders report getting their requests completed within a couple of hours or days.

Here are some of the types of requests you can make:

• Restaurant reservations
• Concert, movies and events tickets
• Travel and tour bookings
• Gift shopping and delivery
• Help planning an event
• Research for special requests
• Help finding a doctor, lawyer, plumber, handyman, etc.

You'll likely have more success with some types of requests than others. According to cardholders, if you make a travel booking request, you'll generally just be referred to Amex Travel. On the other hand, cardholders have found great success when submitting requests for things like concert and event tickets. If given enough notice, the concierge can get tickets the second they go on sale. Even better, when the concierge secures tickets, you don't have to pay any Ticketmaster service fees.

American Express also states the concierge can be used for personalized gift-shopping. You can provide some basic information about the person you need a gift for, and they'll do the gifting for you. Requests you make through the concierge will never be shared with anyone, including any authorized users on your card, so you can rest assured no surprises will be ruined.While there's not much information regarding the parameters of what requests you can and can't make, many cardholders said that it mostly depends on who your assigned concierge is from one request to the next. In general, the American Express concierge can be a valuable benefit for those who don't want to spend time making reservations or gift-shopping.

The Platinum Card® from American Express gives you 5 Amex Platinum points per $1 spent on flights and hotels, plus 1 point per $1 on everything else. To qualify for this card's 5 points per $1 bonus rewards rate, flights must be booked through the airline or Amex, and hotels must be booked through Amex. The Platinum Card® from American Express also has an initial bonus of 75,000 points for spending $5,000 in the first 6 months.

There are lots of different ways to redeem your card's points. You can use them to book travel through Amex, get gift cards or cash back, shop online, and even make charitable donations. The Platinum Card® from American Express points are worth 0.7 cents to 1 cent each in most cases.

Here's how to redeem points:

• Book travel through Amex. Just log in to your Amex account via the Amex travel portal, then search for the transportation and accommodations you want to book. When it comes time to check out, there will be an option to pay with points.
• Transfer points. You can actually move your points at a 1:1 ratio to 18 airline and 3 hotel loyalty programs. To do so, log in to your Amex account and choose your loyalty program. Just keep in mind that you have to transfer in 1,000-point increments.
• 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.
• Donate. You can make a tax-deductible charitable donation with your rewards points by logging in at Amex's Members Give page.
• Pay for Uber. If you connect your 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.

There are a few other ways to spend this card's points. They're worth 0.5 cents each toward Ticketmaster 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.

Amex Platinum lounges are a network of 7 airport lounge programs with a combined 1,200+ locations in more than 130 countries. Known as the Global Lounge Collection, these lounges offer free access to Platinum card members. All that's required is a Platinum card, a photo ID and a same-day boarding pass.

Amex Platinum lounges include:

• The Centurion Lounge
• The International American Express Lounges
• Delta Sky Club
• Priority Pass
• Plaza Premium Lounge
• Air Space Lounge
• Escape Lounges

Each lounge has its own set of perks, but typically, they offer access to an array of amenities ranging from cell phone charging stations to free Wi-Fi and conference rooms. There's also complimentary hot and cold food, snacks, alcoholic and non-alcoholic beverages, and more.

To find an Amex partner lounge location, visit the Global Lounge Collection website and type in the city or airport code in the search field. Restrictions on visitors vary by lounge, but nearly all locations allow complimentary access for at least one guest or immediate family member.

Amex Platinum lounge access is a benefit that, if you use it often enough, could help offset the card's $550 annual fee. There's no limit to the number of times you can visit each lounge, as long as your Platinum card is active and in good standing.

You don't have to pay off all American Express cards every month. Most Amex credit cards allow you to carry a balance from month to month, requiring only a monthly minimum payment to keep your account in good standing. That's the case with the Blue Cash Preferred® Card from American Express and Blue Cash Everyday® Card from American Express, for example, as well as the The Amex EveryDay® Credit Card from American Express and others. Some even offer 0% introductory APRs.

On the other hand, you do have to pay some American Express cards in full every month. That includes The Platinum Card® from American Express, American Express® Gold Card and American Express® Green Card. But there are exceptions. If you have one of those cards and use it responsibly, American Express may offer to let you pay for certain purchases over time. Interest will apply to such purchases, though, at a rate that won't be disclosed until Amex extends an offer.

You can check out WalletHub's review of the best American Express credit cards to find a good option for carrying a balance. Just don't expect to find a low regular APR. American Express credit cards are known more for rewards than low rates.

American Express points are worth 0.7 cents per point, on average. The value of American Express points depends on how you choose to redeem the points. For example, points from American Express are worth up to 0.8 cents each when redeemed for travel through the Membership Rewards program, and they are worth 0.6 cents each when redeemed for cash back.   

American Express Points Value by Redemption Method

Popular American Express Cards

• American Express® Gold Card
• The Platinum Card® from American Express
• American Express® Green Card
• American Express® Business Gold Card
• The Blue Business® Plus Credit Card from American Express
• The Business Platinum Card® from American Express

Tips for Maximizing the Value of American Express Points

Redeem Points for Travel.

American Express points are worth the most when redeemed for travel.

Redeem American Express points regularly.

American Express points do not expire due to account inactivity, but stockpiling points does put you at risk of rewards devaluation. Plus, you won't get to enjoy the fruits of your spending if you don't redeem.

Keep your account in good standing.

If American Express closes your account because of a failure to pay the bill or fraudulent activity, you'll lose any unredeemed points you have saved. And if you pay late, you might have to pay a fee to get back the points from that billing period.

Redeem before closing your account.

Any points you don't redeem before closing your account will be lost, unless you keep another American Express credit card account open.

The best Amex Business Platinum benefits are 100,000 points for spending $15,000 in the first 3 months, 5 points per $1 spent on flights and hotels, and access to 1,200 airport lounges worldwide. Other benefits include trip cancellation and interruption insurance, rental car insurance, and baggage insurance. And there's a perk that gives 35% of redeemed points back with a selected airline (or any airline for first class and business class flights).

Some Amex Business Platinum benefits aren't exactly for everyone. Presumably, not every Amex Business Platinum cardholder will take advantage of the 20% discount on flights with the Delta Private Jet program. But all worldwide travelers will enjoy the lack of foreign transaction fees and the complimentary Priority Pass Select membership, which gets you and up to two guests into Priority Pass lounges for free.

The benefits list for Amex Platinum is long, but the card is only worth its $595 annual fee if you use these benefits often. Some of the top American Express Business Platinum benefits include:

Airline fee credit: $200 per year in statement credits for airline charges like baggage fees and in-flight refreshments. Applies to one airline selected by cardholder.

TSA PreCheck or Global Entry credit: Statement credit for the cost of applying for TSA Pre-check ($85) OR Global Entry ($100) every 4-4.5 years.

Hotel perks: Staying at one of the 900+ Amex partner hotels provides perks like late checkout, hotel credits and complimentary room upgrades.

Airport lounge access: Access to over 1,200 airport lounges around the world with the American Express Global Lounge collection.

35% redemption bonus: 35% of redeemed points back when used at one selected airline. 35% back on all first class/business class flights regardless of airline.

Trip cancellation and interruption insurance: Up to $10,000 in compensation per covered trip ($20,000 per year) for cancellation or interruption of you or a family member's travel plans due to accidental injury or illness, bad weather, hijacking, jury duty, or damage to your primary residence.

Rental car insurance: Covers theft and collision damage for the first 30 days of a rental. Coverage is up to $75,000. Must charge the rental to Amex Business Platinum and decline the rental company's insurance.

Baggage insurance: Up to $3,000 per person per trip if baggage gets lost, stolen, or damaged while traveling. Coverage applies to cardholder, spouse and dependent children under 23. The whole reservation must be charged.

Those aren't the only Amex Business Platinum benefits. But they are the most broadly useful. Most of the other perks are special experiences without a clear dollar value. For example, there's preferred seating at concerts. Or, there are services that very few people need, like private jet bookings.

Yes, the American Express Platinum card does offer a 100k bonus, but only if Amex sends you a personalized offer by mail or email. Amex may send you this offer if your credit profile is a good fit for the card. If you receive an offer and are approved for the American Express Platinum card, you must spend $5,000 within 3 months from the date the account is approved in order to earn the 100k bonus.

Even though the American Express Platinum card 100k bonus isn't available to everyone, the American Express Platinum card's regular bonus of 75,000 points is still a pretty good deal if you qualify. The points are worth enough to offset the cost of the American Express Platinum card's hefty $550 annual fee, at least for the first year.

Once you've met the spending requirement for the American Express Platinum card's bonus, which is $5,000 in the first 6 months either way, the points will post to your account within 8-12 weeks.

The American Express Platinum card benefits at Hertz include reduced rates and other privileges on Hertz car rentals, like free one-car-class upgrades and expedited service. You can also return your rental up to 4 hours late with no penalty. To get the benefits, just pay for a Hertz rental with your American Express Platinum cardand include “CDP #211762” in your reservation.

The American Express Platinum card also offers free membership in the Hertz Gold Plus rewards program. You get an automatic 15% - 25% discount on all rentals, along with Hertz points. Plus, you can pick pretty much any car you want, without a reservation, as well as add your spouse/partner as a driver - among other perks.

The American Express Platinum card car rental insurance covers cardholders for up to $75,000 in collision damage and theft for vehicles rented with the American Express Platinum card or American Express rewards points. To get American Express Platinum card car rental insurance coverage, you must decline the rental agency's supplemental insurance policy. To make a American Express Platinum card rental car insurance claim, call (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.

Here's more info about the American Express Platinum card car rental insurance:

• You're covered up to $75,000 per claim for collision damage or theft.
• You must pay for the entire rental with your American Express Platinum card or rewards points.
• You must decline the rental agency's insurance policy.
• The following types of vehicles are not covered by American Express Platinum card 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 American Express Platinum card 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 American Express Platinum card rental car insurance claim, call (800) 338-1670 within 30 days of the incident. You can also call (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.

American Express Platinum card 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.

The American Express Platinum card Uber benefit is $200 in Uber credits annually: $15 in credits per month, plus a $20 bonus in December ($35 total). Cardholders are automatically enrolled when adding the American Express Platinum card to their Uber account. The American Express Platinum card Uber credits post to the Uber app (for iPhone and Android) on the first day of each month. Unused credits expire at midnight on the last day of the month and will not roll over to the following month.

In order to use the American Express Platinum card Uber benefit, the “Uber Cash” function at the top of the app must be enabled. This will allow you to apply credits to the cost of the ride when booking. To check how many Uber credits you have left for the month, tap the Uber Cash Balance menu icon in top left corner of the app. If there aren't enough Uber credits to cover the cost of the ride, Uber will charge the difference to the American Express Platinum card linked to your account.

Cardholders can use the Uber app to apply credits to the cost of rides anywhere in the U.S., but only primary accountholders are eligible for this free benefit – not authorized users.