AMEX Platinum Credit Card

The AMEX Platinum Credit Card has one of the highest annual fees, but it is a must-have for frequent flyers. The card offers numerous perks, including lounge access, $200 each year to be spent on travel, a $100 credit for NEXUS application, and much more. The rewards program offers a return value of 1% to 3%, so this card may not be the best choice for collecting rewarding points. However, for frequent flyers, this card is essential, not to mention that the card is made of metal.

Card Summary:

• Annual Fee: $699
• Fee for Additional Cardholder: $175
• Purchase Interest Rate: 30%
• Bonus Offer Available
• No Pre-set limit on spending

Rewards Summary:

Welcome bonus offer: Earn 80,000 points (approximately $800) – 60,000 points when you spend $6,000 within the first three months, and an additional 20,000 points when you make a purchase between the 14th and 17th months of card membership.

Earn 3 points for every dollar spent on eligible dining and food delivery.

Earn 2 points for every dollar spent on eligible travel purchases.

Earn 1 point for every dollar spent on all other purchases.

Benefits Summary:

Enjoy the following exclusive benefits with our credit card:

– Lounge Access for a comfortable and relaxing travel experience

– $200 yearly travel credit to use for various travel expenses

– $100 NEXUS application credit to expedite your border crossings

– Receive a premium Metal Credit Card for added durability and style

– Flexibility in redeeming your points for a wide range of rewards

– Hotel Status Benefit, allowing you to quickly achieve the highest tiers at Hilton, Marriott, and Radisson hotels without meeting the typical qualifying criteria

– Experience special perks at Toronto Pearson Airport, including access to the Priority Security Lane, complimentary valet service, and a 15% discount on parking rates for added convenience and savings.

Insurance Summary:

• Travel Medical Insurance.
• Baggage Insurance.
• Trip Cancellation
• Trip Interruption
• Flight Delay
• Auto Rental
• Accident Insurance
• Buyer’s Assurance Protection Plan
• Purchase Protection Plan
• Hotel Burglary

Even though this card comes with a $699 annual fee, if you are a frequent flyer, the services it offers can make it worthwhile. The rewards ratio is lower compared to other cards, so it may not be the best for collecting rewards points. However, this card provides unique services that are unmatched. For instance, if you travel every month and use the complimentary lounge access each time, the value you receive would be approximately $750 or more. Therefore, this card would be beneficial only if you can make use of the perks it offers, which are specifically designed for frequent flyers.

Editor’s Review: AMEX Platinum Credit Card

The AMEX Platinum Credit Card, though it comes with a hefty $699 annual fee, is a standout choice for frequent flyers seeking luxury and convenience. Its comprehensive suite of travel-related perks and exclusive benefits more than justifies the cost for those who travel often and value premium services.

Perks and Benefits

The card’s most notable perks include access to over 1,300 airport lounges worldwide, a $200 annual travel credit, and a $100 credit for NEXUS application, which expedites border crossings. These benefits alone can provide substantial value, particularly for those who travel frequently. For example, using the complimentary lounge access monthly can easily surpass the annual fee in terms of value, offering comfort and convenience during travel.

Moreover, cardholders can enjoy special perks at Toronto Pearson Airport, including priority security lane access, complimentary valet service, and a 15% discount on parking rates. This card also offers hotel status benefits, allowing members to achieve high tiers at Hilton, Marriott, and Radisson hotels without meeting the usual qualifying criteria, enhancing stays with added luxury and service.

Rewards Program

While the rewards program is not the primary highlight, it offers a solid earning potential with 3 points per dollar on dining and food delivery, 2 points per dollar on travel purchases, and 1 point per dollar on all other purchases. The welcome bonus is attractive, with up to 80,000 points available: 60,000 points after spending $6,000 in the first three months and an additional 20,000 points after making a purchase between the 14th and 17th months of membership. These points can be redeemed flexibly, though the return value of 1% to 3% might not be competitive with some other rewards-focused cards.

Insurance Coverage

The AMEX Platinum Card provides an extensive array of insurance protections, including travel medical insurance, baggage insurance, trip cancellation and interruption insurance, flight delay insurance, auto rental insurance, accident insurance, buyer’s assurance protection plan, purchase protection plan, and hotel burglary insurance. These coverages offer peace of mind and financial protection, which are especially valuable for frequent travelers.

Card Design and Prestige

Adding to the card’s appeal is its physical design—made of metal, which not only enhances its durability but also lends a sense of prestige and exclusivity. The card carries no pre-set spending limit, providing flexibility for high-spending cardholders.

Conclusion

In summary, the AMEX Platinum Credit Card is a premium option best suited for frequent travelers who can fully utilize its extensive travel benefits and luxury perks. While the annual fee of $699 may seem steep, the value derived from lounge access, travel credits, hotel benefits, and comprehensive insurance coverage can significantly outweigh the cost for those who travel often. However, for those primarily interested in maximizing rewards points, other cards with higher reward rates might be more suitable. For the jet-setter looking for comfort, convenience, and a touch of luxury, the AMEX Platinum Credit Card is an excellent choice.

View other Travel Credit Cards.

View other AMEX credit cards.

Disclaimer: Refer to the credit card official web page for the latest up to date rates, terms, and conditions. Nothing in the Site constitutes professional and/or financial advice, nor does any information on the Site constitute professional and/or financial advice.