You can use it anytime during the calendar year, but you need to select your airline for the year by Jan. However, many are for very specific goods and services, and it’s not likely that every cardholder will use every one.įor instance, the $200 credit for airline incidentals is highly inflexible. The annual credits potentially total more than $1,500. For instance, you get up to $200 in annual hotel credits, up to $200 in airline incidental credits and much more. Luckily, the Amex Platinum offers a long list of statement credits to help cardmembers offset the annual fee.
(Note that this estimate only considers non-travel spending.) That’s a meager $360 in travel when redeemed for airfare with Amex. That’s $800 when redeemed for airfare with American Express Travel.Īs for the card’s rewards potential, if you spend $3,000 a month like the typical Wall Street Journal reader, you’ll earn 36,000 points a year. The card offers a 80,000-point bonus for spending $8,000 in the first six months. If you do pay off the balance monthly, the Amex Platinum can be rather lucrative in the first year. Interest on rewards credit cards is always quite high, so if you have a habit of letting a balance roll over, it’s best to look into a different type of credit card, such as one with a low interest rate or generous introductory balance transfer period.
#AMEX BLACK CARD FEE FULL#
To recoup the card’s fee with just rewards on non-travel spending, you’d have to spend $5,792 per month, provided you redeem for airfare through Amex and pay off the balance in full every month. But if you don’t take advantage of these perks, offsetting it with points will require a lot of spending. Most cardmembers will try to offset the Amex Platinum’s $695 annual fee with the card’s many statement credit benefits.
Not to mention, the card only earns one point per dollar on non-travel purchases. While the Amex Platinum has a lot to offer, an everyday card user may find it hard to take advantage of all its perks. You can earn credits on prepaid hotel stays booked through Amex, Uber rides, Equinox and Walmart+ memberships, and much more. On top of that, the card comes with myriad statement credits collectively worth more than $1,500 a year.
Plus, you’ll receive premium benefits, including travel insurance and hotel elite statuses. With this card, you can get into Amex’s Centurion Lounges and lounges in the Priority Pass network, as well as Delta Sky Club, Airspace and Escape lounges. Of all the travel cards we’ve looked at, the Amex Platinum offers the most extensive airport lounge access. The card’s long list of perks and annual credits make it a tremendous value to the right cardholder, which is why Buy Side from WSJ named it Best Travel Rewards Card for Luxury Travelers. At $695 a year, The Platinum Card® from American Express is a travel credit card for heavy spenders who prefer to travel in luxury.
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