The American Express Platinum card often sparks debate, primarily due to its significant $695 annual fee. For many, this price tag is daunting. However, for frequent travelers who strategically utilize its perks, the Platinum card can deliver exceptional value, potentially making it one of the Travel Credit Cards Best suited for maximizing rewards and enhancing the travel experience. Let’s delve into the benefits that can easily offset the annual cost and demonstrate why this card remains a top contender in the premium travel card market.
Maximizing Statement Credits to Offset the Annual Fee
One of the most compelling arguments for the Amex Platinum lies in its array of statement credits, designed to reimburse cardholders for everyday and travel-related expenses. By strategically leveraging these credits, the annual fee can be effectively neutralized, and in many cases, surpassed.
Digital Entertainment Credit
Cardholders can receive up to $240 annually in statement credits for select digital entertainment subscriptions. This credit applies to services like Disney+ and Hulu bundle, encouraging users to consolidate their subscriptions and take advantage of this built-in benefit. For those already subscribed to these platforms, this credit represents a direct and effortless way to recoup a portion of the annual fee.
Uber and Uber Eats Credit
The Amex Platinum provides up to $185 annually in Uber Cash, distributed monthly. This credit can be used for Uber rides or Uber Eats orders. A practical approach to utilizing this credit is through convenient pickup orders from restaurants, aligning with existing dining routines and ensuring consistent value from this perk.
CLEAR® Credit
For expedited airport security, the card offers up to $179 annually in statement credit towards a CLEAR® membership. This service streamlines the airport security process, saving valuable time for travelers. For frequent flyers, the CLEAR® credit is a significant benefit, enhancing the overall travel experience.
Global Entry or TSA PreCheck® Credit
Travelers can also benefit from a $100 statement credit every four years for Global Entry or TSA PreCheck® application fees. Both programs expedite airport security screening, with Global Entry also including TSA PreCheck® benefits and facilitating faster customs processing for international travelers.
Saks Fifth Avenue Credit
Fashion and lifestyle enthusiasts can take advantage of a $100 annual Saks Fifth Avenue credit, split into two $50 credits semi-annually. While Saks Fifth Avenue is a luxury retailer, the credit can be practically applied to smaller accessories or essential items, offering a touch of premium retail therapy.
Walmart+ Membership Credit
The Amex Platinum covers the cost of a Walmart+ membership, offering a monthly credit to offset the membership fee, which can total up to $155 annually (depending on how Amex applies the credit monthly). Walmart+ provides benefits such as free grocery delivery, saving time and adding convenience to everyday shopping. This credit caters to practical household needs and can replace other delivery services.
Airline Incidental Fee Credit
Cardholders can select a qualifying airline and receive up to $200 in statement credits annually for incidental fees, such as baggage charges or seat selection. While this credit requires pre-selection of an airline and careful planning, it can still provide significant savings for frequent flyers of a particular airline.
Beyond Credits: Additional Perks that Amplify Value
Beyond the statement credits, the Amex Platinum unlocks a suite of premium benefits that further enhance its value proposition and solidify its position among the best travel credit cards.
Generous Membership Rewards Sign-Up Bonus
New cardholders are often eligible for a substantial sign-up bonus, frequently around 150,000 Membership Rewards points. This bonus alone can effectively offset the annual fee for the first two years, even before considering the statement credits and other benefits. These points are highly valuable and transferable to various airline and hotel partners, offering flexibility in redemption.
Exclusive Lounge Access
The Amex Platinum is renowned for its unparalleled airport lounge access. Cardholders gain entry to the exclusive Centurion Lounges, known for their premium amenities and comfortable environments. Additionally, a Priority Pass Select membership is included, granting access to a vast network of lounges worldwide. These lounge benefits transform the airport experience, offering a haven of tranquility amidst travel hustle.
Comprehensive Travel Insurance and Protection
The card provides robust travel insurance coverage, including trip cancellation and interruption insurance, baggage insurance, and car rental loss and damage insurance. This protection offers peace of mind during travels, potentially saving significant expenses in unforeseen circumstances.
Amex Offers and Bonus Points Earning Opportunities
Amex Offers provide targeted discounts and bonus points on purchases with various merchants. Actively utilizing these offers can lead to substantial savings and further accumulation of Membership Rewards points. Referral programs also offer opportunities to earn even more points by recommending the card to others. Furthermore, retention offers are sometimes extended to long-term cardholders, providing additional incentives to keep the card.
Conclusion: Is Amex Platinum Worth It?
While the $695 annual fee of the Amex Platinum is a significant consideration, a thorough examination of its benefits reveals a compelling value proposition. For individuals who can strategically leverage the statement credits and appreciate the premium travel perks such as lounge access and travel insurance, the Amex Platinum can undoubtedly be considered one of the best travel credit cards available. The card’s value extends beyond mere financial returns, encompassing enhanced travel experiences and peace of mind. For frequent travelers seeking premium rewards and benefits, the Amex Platinum remains a top-tier choice that can genuinely be worth the investment.
