Amex Platinum Card: Worth the Price?

There are a whole host of travel rewards credit cards available to the modern traveler. It seems like every bank and every airline has forged a partnership and produced a card with various high-value perks and benefits. However, the Amex Platinum travel card is one of the longest-established options on the market.

The American Express Platinum card is one of the most popular and beneficial travel rewards credit cards out there. Although you have to pay a premium fee, the Amex Platinum benefits include a $1,500 statement credit each year and airport lounge access which can make the annual payment well worth it.

In the article below, we will give you a detailed breakdown of all of the features and benefits you need to know about to decide whether this is the card for you.

Amex Platinum Benefits

Where the American Express Platinum Travel card stands out, are the benefits. You will find some of the most generous perks and benefits around on this premium rewards credit card. Here are the Amex Platinum benefits you can enjoy as a cardholder.

· Annual hotel statement credit of up to $200 for Amex Travel bookings with The Hotel Collection or Amex Fine Hotels. (Minimum stay of 2 nights.)

· $200 statement credit to cover your selected airline’s incidental fees.

· $189 annual statement credit for a Clear Plus membership.

· $100 statement credit for Global Entry membership every four years or a $85 credit for TSA Precheck membership every four and a half years.

· American Express Global Lounge Collection access, (which includes Priority Pass and Centurion lounges.)

· Eligibility for $500 reimbursement if your travel is delayed by over six hours (subject to terms and conditions.)

· Access to up to $10,000 reimbursement for canceled or interrupted trips due to an eligible reason.

· Access to The Hotel Collection and Amex Fine Hotels properties.

· Gold Status levels with both Marriot Bonvoy and Hilton Honors loyalty programs.

· Complimentary elite status with car rental companies including Hertz, Avis, and National Emerald Club.

· Uber Cash credit of up to $200 annually. (Split into payments of $15 monthly and $20 in December.)

· $240 statement credit for eligible digital entertainment partner purchases with your card.

· Up to $155 credit for a Walmart+ membership.

· $300 statement credit for annual Equinox gym and app memberships.

· Up to $100 credit for Saks Fifth Avenue. (Split into two statement credit payments throughout the year.)

As you can see, there is a wide variety of annual benefits which can make the annual fee more than worth it. Even just the savings of a $200 Ubercash credit and $300 credit for Equinox gym membership are enough to cover this annual cost. However, to judge whether this is the right card for you, you need to only factor in the value of the benefits and memberships you are going to use.

Welcome Bonus of the American Express Platinum Travel Credit Card

As a new cardholder, you will be eligible for a welcome bonus offer of 125,000 reward points after you spend $8,000 using the card within the first six months of opening your account.

Each American Express point is worth approximately 2 cents, which means that this initial bonus is valued at $1,600. This is one of the most generous Amex platinum benefits and makes the annual fee of $695 more than worth it.

How Do You Earn Amex Rewards Points with the American Express Platinum?

Here is a breakdown of how you can earn rewards points with the Amex Platinum Travel card:

· 5x points for each dollar spent on flights booked directly with airlines.

· 5x points on flights booked through American Express travel.

· (This points earning potential is applied up to $500,00 of flight purchases in a calendar year.)

· 5x reward points on prepaid hotel bookings made through the Amex Travel portal.

· 1x rewards on eligible everyday spending.

If you travel frequently, then these reward points earning opportunities are a great way to earn discounts and benefits for your future travel while making your regular flight and hotel bookings.

How Much Are Amex Platinum Benefits Points Worth?

Using American Express Platinum travel rewards is one of the best ways to make sure you are getting the most value from the card. Each Amex point you earn is worth approximately 2 cents when redeemed with Amex partner hotel and airline partners including members of the Oneworld, SkyTeam, and Star Alliance air carrier groups.

If you want to get the most reward for the points you have built up, then redeeming your points with one of these partners is likely to give you the most value. You can transfer your points to Amex partners and use them to make purchases instantly in most cases.

Another way to use your points is to book your travel through the American Express Travel hub. The value won’t be as high when redeeming with partners if you only hold one Amex card. The value will be approximately 1 cent per dollar in contrast to the 2 cents when renewed with travel partners.

What Are The Alternatives to an Amex Platinum Travel Card?

There are some other premium travel cards to consider if you think the American Express Platinum Travel card is not for you. These include:

• The Chase Sapphire Reserve.
• Capital One Venture X Rewards Card.
• Bank of America® Premium Rewards® Elite Credit Card
• Delta SkyMiles® Reserve American Express Card
• United Club Infinite Credit Card

Takeaway - Amex Platinum Card Review: High Annual Fee with Loads of Perks

The Amex Platinum benefits make this premium card a great choice for frequent travelers who want to save money on hotel bookings, flights, TSA memberships, and car rentals. Along with travel-related perks, you will also get statement credits for gym membership, digital entertainment, and shopping.

When deciding whether the Amex Platinum Travel card is the best fit for you, you should think about which benefits are going to be used and are therefore valuable. If this value outweighs the annual fee, then this may be the right elite travel credit card for you!