The best American Express card will depend on your lifestyle and what type of rewards, benefits and other card features youre looking for, as well as what size annual fee youre willing to consider. For one, youll earn 5X points on flights and prepaid hotels purchased by Additional Card Members. But most importantly, don't force yourself into a difficult financial situation just to have a credit card. Please visit americanexpress.com/benefitsguide for more details. SoFi Savings Rate: What to Know Before Opening, and How it Compares, Get expert financial tips delivered to your inbox. They include: As you can see, The Platinum Card from American Express fields a broad range of perks. Given the byzantine nature of this perk and how much you have to spend to leverage it, though, we're not really considering it here. You can downgrade your card to a different American Express card that doesnt have an annual fee. So, I wont assign specific values to them, but will outline their scope so you can estimate their value for yourself. In many cases, cards with an annual fee may be a better value. The American Express Platinum Card, known for its prestigious benefits and sleek appearance, is a card worth bragging about. But that is only valuable to you if you use them. If you cannot maximize all of the cards credits each year perhaps because you live overseas and cant use the monthly Uber credits, or struggle to use the new lifestyle benefits for streaming services and Equinox then tally up the value of the credits you can use. While this won't directly offset my out-of-pocket cost for keeping the card, 55,000 Amex points can be worth far more than the annual fee. Youll also get an additional amenity like a bottle of wine on select cruise lines. For example, the Platinum Card offers the following elevated credits and benefits: For more on the Offer & Benefit Terms listed above, click here. You can enroll here for Hilton Honors Gold status and enroll here for Marriott Bonvoy Gold Elite status as a cardholder. That's $750 when you redeem through Chase Ultimate Rewards. Thinking of getting 1 charge card. This can help negate the cost of the $250 annual fee (See Rates & Fees). Learn all about finances in next to no time. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. New cardmembers will see the annual fee on their first billing statement. For an explanation of our Advertising Policy, visit. 2% cash back at gas stations and some department stores. The venerable Platinum Card has a $695 annual fee. Blue Cash Everyday Card Cash Back Starts Here. Terms, Conditions and Limitations Apply. Clear lets you use biometric kiosks for identification purposes so you can skip the TSA agent shuffling through other travelers' identification and head straight to the baggage security line. See. ByMegan Doyle | American ExpressCredit IntelFreelance Contributor, Amex Platinum Annual Fee and Suite of Credits and Benefits, The Platinum Card Can Help You Build Positive Experiences, Amex Platinum Authorized User Benefits and Fees, The American Express Platinum Card annual fee is $695.1. She previously covered travel and credit cards as lifestyle. For new card members (as of July 1), the new fee will go into effect immediately. Once that's done, youll automatically receive $15 in Uber cash credit each month, except for December, when you get $35 worth. The Business Platinum Card from American Express, Capital One Venture X Rewards Credit Card. By providing your email, you agree to the, One Thing Couples Should 'Never, Ever' Do With Their Money, According to Suze Orman, What Is Term Life Insurance? You could also argue the Global Entry or TSA PreCheck application fee credit is a moot point since many other (less expensive) travel credit cards already offer this benefit. You can qualify for 75,000 bonus miles when you spend $4,000 within the first three months of account opening. See offer terms for details. Additional reporting by Stella Shon, Katie Genter and Bent J. Wilson. Editorial Note: We earn a commission from partner links on Forbes Advisor. If anyone on our team wouldnt recommend it to a friend or a family member, we wouldnt recommend it on The Points Guy either. The American Express Platinum Cards $695 annual fee works out to about $58 a month. You have poor or limited credit history and cant qualify for a no annual fee credit card. Major Amex Platinum changes Annual fee As of July 1, 2021, all new Platinum Card members will be charged the increased $695 annual fee. Between the welcome offer, laundry list of benefits, consumer protections and excellent concierge service, it is an experience having the card. Terms apply to American Express benefits and offers. Enrollment required. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards perRead More. Then you can determine whether the annual fee is worth it for you based on your spending and travel habits. While its certainly a staggering price tag, American Express is introducing a host of new perks and benefits. Whether you're a current Amex Platinum cardholder or are considering applying for it, it is advantageous to consider all options available. Cardholders will also get more lifestyle and experience-based perks, including 40% off a membership for the Premium Private Jet Program with Wheels Up, as well as up to $2,000 in initial year flight credits to book private charter flights; and access to the Global Dining Access program by Resy, where cardholders can get exclusive tables at some of the worlds top restaurants. Eligibility and Benefit level varies by Card. 2023 NextAdvisor, LLC A Red Ventures Company All Rights Reserved. For those who don't want to fork over north of $500 for an annual fee, consider the Capital One Venture X Rewards Credit Card. Not only can you earn Membership Rewards points for Additional Card Member purchases in the same way you do on your own, Additional Gold Card for Platinum Card Members get benefits like Global Entry or TSA Pre fee credits and access to The Hotel Collection.8 Adding an Additional Card Member can also be an effective way to help that person learn financial responsibility and establish credit if theyre 18 or older. $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline. Plus, youll earn 5 points per dollar on prepaid stays booked online through FHR. In the past, the welcome offer was 100,000 Membership Rewards points after spending $6,000 in the first three months. 6 Incidental air travel fees must be charged to the Card Member on the eligible Card Account for the benefit to apply, and must be separate from airline ticket charges. Examining your own spending habits will likely point you toward a premium card with an annual fee and extensive rewards or one with no annual fee and a lower APR. Cardholders earn 5 points per dollar on airfare when booked directly with airlines or with American Express Travel. A year ago, the Amex Platinum added an array of new perks for cardmembers and raised its annual fee to $695 (see rates and fees) in the process. Read more about Select on. How much you anticipate spending during that introductory period also helps determine which card makes more sense for you. Insider values Amex points as worth 1.8 cents each, on . You charge enough that the rewards you earn offset the fee. The welcome offer is also something to consider in your calculations, but only for the first year. The Benefits of No Annual Fee Credit Cards. Get $200 each year in incidental credits (i.e. For existing cardmembers, the increased annual fee will take effect for renewal . The venerable Platinum Card has a $695 annual fee. Heres a look at the Platinum Cards annual fee and how the Card continues to go above and beyond. What benefits do amex platinum authorized users get? Only a handful of cards (mostly invitation-only. The statement credits described in the previous section can easily help bring your effective annual fee down from the published $695 per year to $0 per year. Underwritten by AMEX Assurance Company. Bread Cashback American Express Credit Card Review: Good for Flat 2% Cash Back, Light on Benefits, How to Decide Between the Amex and Chase Trifectas, or Create Your Own Card Combination to Maximize Rewards, The Amex Trifecta: Maximize This Card Trio for Travel Upgrades and Savings, American Express Blue Cash Preferred vs. Wells Fargo Active Cash: Two Great Cash Back Cards for Everyday Purchases, Chase Freedom Unlimited vs. American Express Blue Cash Preferred: Two Top Cash Back Cards, Marriott Bonvoy Brilliant American Express Credit Card Review: Premium Benefits for Frequent Marriott Travelers, Amazon Business Prime American Express Card Review: 5% Amazon Savings or 90-Day Interest Free Period on Purchases, Delta SkyMiles Blue American Express Card: No Fee Option for Delta Travelers with Few Benefits, Delta SkyMiles Reserve American Express Card: Lounge Access and Premium Perks for Frequent Delta Flyers, Amex EveryDay Preferred Credit Card: Great Rewards Boost for Frequent Spending, Samantha Rosen is a former editor at NextAdvisor. (Enrollment is required for select benefits.). Underwritten by AMEX Assurance Company. Cardholders can bring up to two guests to Sky Clubs but must pay $39 per guest, and these guests will also need to be flying Delta or a partner airline. 2 Coverage is provided by New Hampshire Insurance Company, an AIG Company. Another option is to instead apply for a different version of the Amex Platinum. Gold status includes: daily food/beverage credit, upgrades when available, fifth night free when using points and free Wi-Fi. The Capital One Venture card is a flexible travel rewards credit card that earns 2 Capital One Venture miles per dollar on all purchases. TPG values Hilton Honors Gold status at $1,255 and Marriott Bonvoy Gold Elite status at $840 based on certain stay and spending habits. For example, if you dont use Equinox, Uber and Clear, thats over $600 worth of perks that you would not use, which could make the card not worth it to you. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. The annual fee is $175 for up to three Additional Platinum Cards, then $175 for each Additional Platinum Card thereafter. All of this is on top of the many perks Platinum has been known for, including 5X Membership Rewards points on flights and prepaid hotels and several benefits and credits, including: Platinum goes the extra mile to replace lifes hassles with everyday adventure through perks and services like access to the Global Lounge Collection, including the recently expanded Centurion Network of Lounges and Studios, so you can travel in comfort. 7 Card Members must link their Platinum Card to their Uber app. Information provided on Forbes Advisor is for educational purposes only. Amex increased the Platinum card's annual fee from $550 per year to $695 per year (see rates and fees ). However, note that these figures are based on earning status the regular way through nights and stays and leveraging those benefits on those nights and stays. Unfortunately, there generally isn't a way to waive the Amex Platinum's annual fee, unless you're on active duty in the military, for example. Although the card underwent a major revamp last year and added several new features, some consumers are wondering whether a travel card like the Amex Platinum is right for them, especially during a time of inflation. Some of the Amex Platinum's benefits discussed below may provide no value to you but significant value to someone else. The Platinum card also has trip cancellation, interruption and delay insurance. Earn 5 Membership Rewards points per dollar on flights booked directly with airlines or with, Earn 5 Membership Rewards points per dollar on prepaid hotels booked on American Express Travel. Terms apply to the offers listed on this page. Technically, this credit is meant to be used toward charges such as checked baggage fees, seat assignment fees, airline lounge passes and similar expenses. That's $900 toward travel when you redeem through Chase Ultimate Rewards. Uber Cash and Uber VIP status is available to Basic Card Member only. Some may get huge value from these benefits if they're frequent travelers at airports with qualifying lounges or prefer staying at Hilton and Marriott properties. That said, maximizing each and every one of them requires an "extreme couponing" mindset that many cardmembers might not be able to muster. Plus, you'll receive an automatic 10,000 mile bonus every year you keep your card open. This card shines for this use, but overall the star ratings may differ when compared to other cards. Required fields are marked *. This is one of the most basic, yet still confusing (to some), benefits of the Amex Platinum Card. The card has a $95 annual fee. Becky Pokora is an avid traveler with a particular love for the outdoors. Purchase airline lounge day passes for future use. The fee will only be waived during years when you are still on active duty and you can contact American Express for more information on how to obtain your fee waiver. If used fully, these credits amount to nearly $1,600 in value per year, more than double the card's annual fee. Depending on how you use it, they say, a card with an annual fee even a high one may make better financial sense than a no annual fee credit card.6. Plus, youll earn 5 points per dollar on prepaid Hotel Collection stays that are booked online. When you book a two-night or longer stay through The Hotel Collection with American Express Travel, youll get a $100 hotel credit for use on qualifying dining, spa and resort activities and a room upgrade upon arrival (when available). American Express Platinum card Fees Annual Fee: $695 Cash Advance Fee: 5% (min $10) Foreign Fee: 0% Max Late Fee: $40 This site does not include all credit card companies or all available credit card offers. There's little question that The Platinum Card from American Express is one of the best travel cards for frequent travelers who want lounge access, hotel status, a huge points bonus, and other luxuries. Note that if youre booking through The Hotel Collection, theres a minimum stay requirement of two nights. Clear expedited airport security program: Is it worth it? Our points-obsessed staff uses a plethora of credit cards on a daily basis. originally joined TPG as the site's first managing editor back in 2011. 3 weeks ago Seth. Please visit americanexpress.com/benefitsguide for more details. Unfortunately, the Equinox and entertainment credits are more like coupons. ShopRunner membership includes free two-day shipping and free return shipping on eligible items at participating online stores. American Express has expanded The Centurion Network to include 40+ Centurion Lounge and Studio locations worldwide. With the cards many statement credits, you could potentially reap double the annual fee in value before even factoring in benefits like airline lounge access and automatic elite status with travel partners. Most Americans prefer no annual fee credit cards, but thats not always the smart move. 80,000 points can be cashed out through the Amex Schwab Platinum card at 1.1 cents per point, making 80,000 Amex worth $880 cash. (Enrollment is required for Priority Pass.). Eligibility and Benefit level varies by Card. This is just one scoring method and a credit card issuer may use another method when considering your application. However, there are a few ways to waive the Amex Platinum annual fee if youre eligible. Complimentary memberships in Hertz Gold Plus Rewards, Avis Preferred and National Car Rental Emerald Club Executive. Whats most important here is that you take a close look at your travel habits, as well as your budget, to see if the perks align with your lifestyle. Breeze through security with CLEAR lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card. Toward the other end of the spectrum is an elite travel credit card with a $550 annual fee. You might want to run the numbers on travel credit cards, too. A Housing Market Prediction From Counting Crows? Proudly powered by WordPress The Platinum Card also gets cardholders into Delta Sky Clubs on same-day flights operated by Delta and its partner airlines. You can cancel your card before the annual fee is charged. Is It Worth It? Compare the wide range of credit cards and choose the one that suits you best. Card Members can apply for TSA Pre through any Authorized Enrollment Provider. Offers may be subject to change without notice. Terms, Conditions and Limitations Apply. Morgan Stanley Amex Platinum card members also get one authorized user at no additional charge (a $175 annual value) and their American. The Platinum Card from American Express now carries a $695 annual fee, but for many travelers, the cards benefits will more than offset that charge. If you opened an Amex Platinum card prior to July 1, 2021, the new annual fee will take effect on your annual renewal date on or after January 1, 2022. Enrollment may be required for some American Express benefits and offers. Below, Select breaks down the Amex Platinum's rewards, benefits and fees to help you decide if it's the right card for you, despite the high annual fee. CNBC, When is Amex Platinum annual fee charged? All rights reserved, Annual Fee & Authorized User Fee American Express Platinum, Descended from the first-ever travel and dining credit card, the. An annual membership to the Delta SkyClub alone starts $545. He contributed to major publications including Bloomberg, Conde Nast Traveler, National Geographic Traveler and Travel + Leisure before rejoining TPG as director of content in 2021. Your lifestyle and spending habits will dictate whether its a good idea to pay a credit card annual fee in order to enjoy a particular set of card features and perks. Visitamericanexpress.comto learn more. Complimentary Marriott Bonvoy Gold Elite status. Things To Do Before Canceling A Credit Card, Best Credit Cards: Reviews, Rewards & Offers, Chase Sapphire Preferred Credit Card Review, High reward potential on flights and hotels booked through American Express Travel, Multiple credits can help justify the fee, Luxury travel benefits and elite status with Hilton and Marriott with enrollment, Maximizing the statement credits takes some work and could be unworkable for many, Reward rate outside of travel is sub-par for a premium card. Heres what you need to know to decide whether this card is worth it to you. Starting in 2023, statement credits for the $300 Equinox Credit benefit will be provided on an annual basis of up to $300 per year and will no longer be provided on a monthly basis of up to $25 back per month. To offset the cost of the new perks, the annual fee has officially gone up to $695 ( see . Apply and select your preferred metal Card design: classic Platinum Card, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. $1,600 (Points are valued at 2 cents per point. When you pay for the $100 Global Entry application fee or the $85 TSA PreCheck fee using your card, it will be refunded to you as a statement credit. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. Select independently determines what we cover and recommend. The Amex Platinum Card offers eight main statement credits that can reduce the effective cost of the annual fee. Here are the best travel credit card welcome bonuses so you can save up to $750, The best luxury and premium credit cards if you want the best perks, Why the Fed raising rates could make your savings account more valuable and debt more expensive, How to get Super Bowl LVII tickets and VIP packages with points from multiple rewards programs, Last chance to get presale tickets to Taylor Swift's 'Eras Tour' through Capital One. No Annual Fee Credit Cards. But that cards perks are rich. The card also earns 5 points per dollar on airfare booked directly with airlines or at Amex Travel on up to $500,000 and is offering a welcome bonus of 100,000 Membership Rewards points if you spend $6,000 in the first six months of card membership. How do I find and add Amex Offers to my Card? All Credit Intelcontent is written by freelance authors and commissioned and paid for by American Express. When the annual fee comes due again, youll be able to make a more educated decision on whether you want to keep it and enjoy the benefits for another year. If you want similar travel perks to the Amex Platinum and you run a business, consider The Business Platinum Card from American Express. Read more in TPGs full guide on the Fine Hotels + Resorts Program. How do I find and add Amex Offers to my Card? Are you sure you want to rest your choices? Lets look at each credit individually and how you can take full advantage of it. Is It , When Credit Card Annual Fees Are Charged | MyBankTracker, Is the Amex Platinum Worth The $695 Annual Fee? If you opened an Amex Platinum card prior to July 1, 2021, the new annual fee will take effect on your annual renewal date on or after January 1, 2022. | Earn 10,000 Membership Rewards Points. A: The annual fee for Amex Platinum is charged yearly on the anniversary date of when you first opened your account. Most people will need to pay the $695 annual fee on The Platinum Card from American Express in full each year. Earn 5X Membership Rewards Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards Points on prepaid hotels booked with American Express Travel. Now, the card has more statement credits than ever before, with opportunities to earn credits for purchases like airline incidental fees, hotel reservations and even subscriptions to digital entertainment services. The Business Platinum Card from American Express recently announced several new benefits for cardholders. Instead, we'll look at the card's ongoing benefits. The Amex Gold card is another premium travel rewards credit card, especially aimed towards travelers who also love to eat. Up to a $155 statement credit that covers the cost of a monthly. Additional Card Members must be 13 years of age or older.8. Looking beyond the welcome offer, which is pretty lucrative, you will have to map out which of the perks of The Platinum Card from American Express you will eventually utilize and to what extent. Enrollment required. . Please review. At one end of the spectrum are cards branded for airlines or hotel chains these cards often charge annual fees of $95 and up. At home or at the gym: The best credit cards to maximize your next workout, seemingly comes with every premium credit card, prepaid Amex Fine Hotels & Resorts bookings made online, eligible Amex Fine Hotels & Resorts stays, The American Express Global Lounge Collection, youll need to request your membership card, these guests will also need to be flying Delta, 5 points per dollar on prepaid stays booked online through FHR, full guide on the Fine Hotels + Resorts Program, The Hotel Collection with American Express Travel, full guide to the Cruise Privileges Program, National Car Rental Emerald Club Executive, Do Not Sell or Share My Personal Information, Earn 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership. What Is a Credit Card Annual Fee? Terms apply to American Express benefits and offers. Find the right card for you. Almost S$2,000 for a credit card may seem expensive, but looking at the price tag alone does not tell you the value of an item. At the end of the day, it's not financially savvy to spend more money just to take advantage of the card's benefits. Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Plus, the various other benefits of the card can be worth even more for most frequent travelers. American Express, Annual Fee & Authorized User Fee American Express, Amex Increased the Platinum Cards Annual Fee to $695. When does the annual fee kick in for the platinum? Save my name, email, and website in this browser for the next time I comment. However, it still does not include baggage delay reimbursement. However, even if you cant use all of the credits -- perhaps because you cant access the Equinox locations, you dont like shopping at Saks or you cant find anyone to use the Global Entry/TSA PreCheck credit that seemingly comes with every premium credit card these days its still possible that the cards other perks and earning potential will provide enough value to justify the annual fee. You will receive up to $100 every 4 years after you apply for Global Entry. Earn 5X Membership Rewards points on flights and prepaid hotels on amextravel.com and 1X points for each dollar you spend on eligible purchases. Please see our. Yes, however, this welcome offer is reduced. By Allan Halcrow | American ExpressCredit IntelFreelance Contributor. Sort of like Amazon Prime, Walmart + includes free next-day and two-day shipping on items from Walmart.com, with no minimum required (excluding overweight, freight and Marketplace items), free delivery from your local Walmart store on orders of $35 or more, select prescriptions for as little as $0, savings of up to 85% at thousands of Walmart pharmacies, and discounts of 5 cents per gallon at Walmart and Murphy gas stations along with member pricing at Sams Club fuel centers. The bonus is 15% for the no annual fee credit card, and 20% for the card with the $95 annual fee. I'm interested in getting the Amex Platinum card with waived annual fees for military on my active duty tour. The Platinum Card from American Express is a high-end card that is packed with benefits and a hefty welcome offer. The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1X points on all other purchases. So, if you stay fewer nights, youll likely get less value from the status. It's harder to put a price on airline lounge access and elite status with Hilton and Marriott. You want features available on cards that charge a fee, such as an introductory bonus or the ability to transfer points. You will receive complimentary Gold Elite status benefits when you book directly at Marriott properties. The material made available for you on this website, Credit Intel, is for informational purposes only and is not intended to provide legal, tax or financial advice. One TPG writer received 30,000 bonus points in 2021 just for keeping his card open another year. 3% cash back at gas stations and some department stories. Youll also receive a complimentary Priority Pass Select lounge membership, which gives you access to over 1,300 airport lounges around the world. If you can maximize all of its annual statement credits, youre looking at nearly $1,600 in value. Cardholders can take advantage of numerous annualstatement credits, entertainment benefits, extensive airport lounge access, elite status perks and much more. Amex Platinum Quick Facts. The Black Card offers 1.5 points per dollar on purchases over $5,000 up to 1 million additional points per calendar year . However, before you sign up for a new card or if youre considering whether to keep or cancel a card you already carry its important to ask yourself whether the card is worth the annual fee. Like all American Express Cards, the Platinum Card allows you to add Additional Card Members, commonly known as authorized users, to your account. Bank of America Cash Rewards - 8,000. At the same time, the Platinum Card can help you get access to over $1,500 value in benefits. The card, previously clocking in at a $550 annual fee, will be hiking its price to almost $700. In addition, unlike the Priory Pass privileges on other cards, it does not include credits at airport restaurants. Terms, Conditions and Limitations Apply. That said, theres no denying that $695 is a lot of money. Make sure to activate this credit first under the Benefits section of your Amex Platinum account, which will then send you to the Clear website to sign up for the membership. Past performance is not indicative of future results. If you took a critical look at your spending habits and decided this card just isnt worth it for you, there are plenty of other travel credit cards on the market at lower annual fees. We valued Amex points at 2 cents apiece, which is possible if you're transferring them to airline partners. Do I pay upfront if I get approved or torward the end of the fiscal year. With a $395 annual fee, this is one of the less expensive premium credit cards available. Between the numerous travel benefits, reputable concierge service and consumer protections, the card is worth considering if you can stomach the steep annual fee. Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card. In subsequent years, youll see the annual fee in the anniversary month of your account. You will receive access to the American Express Global Lounge Collection, which includes: Priority Pass membership, Delta Sky Club access and Centurion lounges. Adding Card Members to your account can be a great way to maximize points-earning potential and extend benefits to those you care about. More specifically, Additional Card Members are eligible to get either a $100 statement credit every four years for Global Entry or an $85 credit every four and a half years for TSA Pre, as long as the application fee is paid with the Platinum Card. Underwritten by AMEX Assurance Company. Plus Ups are excluded. Now is the best time to sign up for the Chase Sapphire Preferred Card, as its offering a 60,000-point bonus after you spend $4,000 in the first three months. There are strong arguments in favor of the card, such as an impressive roster of 17 airline and three hotel transfer partners including British Airways and Delta, extensive airport lounge access perks, a Global Entry or TSA PreCheck application fee waiver every four years (up to $100), an annual airline fee credit, Uber credits, medical evacuation travel protection, travel insurance and more. While you may or may not subscribe to the eligible services, it can certainly help offset the cost if you are already using one of the services listed above. Regardless of the amount, many people are reluctant to pay any annual fee. Underwritten by New Hampshire Insurance Company, an AIG Company. Descended from the first-ever travel and dining credit card, the American Express Platinum Cardhas long been at the forefront of luxury travel, with high points multipliers and strong benefits. Eligibility and Benefit level varies by Card. Hi, I'm in the HPSP program where I can go from IRR to active duty status for 45 days per year. He is also the author of four books on management. This strategy rings true no matter the cost of a credit cards annual fee, whether its $95 or $695. Earn Up to $150 Back When You Shop With PayPal. The monthly credit can be used on multiple rides, but any portion of it that remains unused doesnt roll over at the end of the month. Get Forbes Advisors ratings of the best travel credit cards and helpful information on how to utilize travel rewards and benefits to get the best deals for your next adventure. Others may not be able to easily access these benefits based on location or travel habits. Each year you can get one $50 statement credit for Saks purchases between Jan. 1 and June 30 and another $50 statement credit for purchases between July 1 and Dec. 31. Please review. (Enrollment required.). We do not cover every offer on the market. 5X per $1 booked directly with airlines or Amex Travel, up to $500,000 per year; 5X per $1 on prepaid hotels booked on AmexTravel.com; 1x per $1 on other purchases. Comparing Annual vs. No Annual Fee Credit Cards. The Chase Sapphire Reserve is another premium travel card loaded with benefits, including a $300 travel credit, Priority Pass airport lounge membership, plus it earns 3X points on all travel and dining purchases. There are a couple of International American Express Lounges in Argentina, Australia, India and Mexico, too. These offers are not extended to everyone and may depend on your purchasing and payment behaviors, but may include statement credits or Membership Rewards to offset the cost of the annual fee. Do the Math! The value of this benefit depends on how frequently youd use the Platinum Card to book eligible airfare and prepaid hotels. Editorial disclaimer: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. There is no guarantee youll receive an offer of any type. For rates and fees of the Amex Platinum, click here. Other related questions: Q: Does Amex charge annual fee immediately? Plus, earns 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. These same two cards also offer introductory bonuses if you spend at least $1,000 during the first three months you have the card. As always, Platinum goes above and beyond credits to provide premium services and benefits like Cell Phone Protection,2 airport lounge access, and special access to popular restaurants through Global Dining Access by Resy. These days, consumers have no lack of choices when it comes to premium travel rewards cards. Those points are worth up to $750 for travel when booking through Chase and the card carries an annual fee of only $95. When the representative mentions the annual fee, find out if they would be willing to waive the fee for the first year. Sign up for our daily newsletter! If youve decided that the card is worth its annual fee, heres the official application link: The Platinum Card from American Express with 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership. Plus, your own feed of TPG content. Apply and select your preferred metal Card design: classic Platinum Card, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. On the other hand, if you will take advantage of its ongoing benefits, such as lounge access, Fine Hotels + Resorts bookings, Marriott and Hilton elite status, and International Airline Program ticket savings, as well as even just one or two of the credits, then springing for the Platinum Card from American Express is probably worthwhile. However, some credit card enthusiasts have compared some of the benefits to that of a "coupon book," questioning the true value these credits are offering Platinum cardmembers. For example, suppose you have poor credit. Must book with American Express Travel and pay with the Amex Platinum. Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Both the The Platinum Card from American Express for Charles Schwab* and The Platinum Card from American Express exclusively for Morgan Stanley* offer credits toward the annual feebut only if you hold substantial assets at the corresponding brokerage. However, many of the above values are estimates. Related: Key things to know before getting Global Entry. The $200 . Whether youre an avid cruiser or only take one cruise every year or two, this benefit is worth mentioning. It currently has a 60,000-point welcome bonus which you'll earn after spending $4,000 in the first three months of card membership. Underwritten by New Hampshire Insurance Company, an AIG Company. A credit card annual fee is what you pay for certain cards usually to enjoy special features and perks. In addition to hotel elite status, cardholders can enroll for status with several car rental programs, including Avis Preferred, Hertz Gold Plus Rewards and National Car Rental Emerald Club Executive. 20.24% - 27.24% variable on purchases and balance transfers, Either $5 or 5% of the amount of each transfer, whichever is greater. Here's what you need to know to decide whether this card is worth it to you.. Megan Doyleis a business technology writer and researcher whose work focuses on financial services and cross-cultural diversity and inclusion. If you're considering the Amex Platinum, it could be worth it for the first year, and then reevaluate when the second annual fee posts. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. How do I Earn Membership Rewards Points? Read more in TPGs full guide to the Cruise Privileges Program. Welcome offer: Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new card in your first six months of card membership. How do I Redeem Membership Rewards Points? For many, the customer support they receive as a Platinum card member makes the annual fee worthwhile. If youre approved for Global Entry, youll receive access to TSA Pre at no additional charge. DEXSTA's Visa Platinum Card Offers A 2.99% Introductory Rate For Borrowers. Heres a closer look to help you decide if its worth it to you to apply for the card and how it compares to some other travel cards with lower annual fees. Some offers are no longer available. Those users are eligible for some of the same benefits as the main account holder, including lounge access, Global Entry/TSA PreCheck reimbursement, hotel elite status and Amex Fine Hotels + Resorts benefits (not to mention Amex sometimes offers cardholders bonus points for adding authorized users). If the annual fee is too expensive, don't fret there are several other credit cards you can consider without a steep annual fee. We'll run a soft credit check to find special offers, but it wont affect your credit score. $695 annual fee . The material made available for you on this website, Send Money & Split Purchases: Venmo and PayPal, Credit Intel Financial Education Center. To view rates and fees for The Platinum Card from American Express please visit this page. Let's get the bad news out of the way up front the Amex Platinum 's annual fee has increased from $550 to $695 ( Rates & Fees ): The $695 annual fee applies for new accounts opened as of July 1, 2021. Find the best credit card for you by reviewing offers in ourcredit card marketplaceor get personalized offers viaCardMatch. In most of the other situations listed above, you can make the best decision by getting out the calculator and doing some math. Today well consider The Platinum Card from American Express, which has a $695 annual fee (see rates and fees). It is offering a welcome offer of 60,000 points when you spend $4,000 on eligible purchases within six months of card membership, and earns 4 points per dollar on dining and at U.S. supermarkets (up to $25,000 per calendar year, then 1 point per dollar), as well as 3 points per dollar on airfare booked directly with airlines or through Amex Travel and 1 point on everything else. Among this card's newer perks is up to $155 in annual statement credits toward the cost of a monthly Walmart+ membership. Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. The Lounge Collection includes Priority Pass Select membership and access to Delta SkyClubs, Escape lounges, Plaza Premium lounges, Air Space lounges, Centurion Lounges and International American Express Lounges. Cost includes $12.95 plus applicable local sales tax. Editors note: This is a recurring post, regularly updated with new information. A final point on the math: Dont forget to consider interest charges. 3 Card Members must pay monthly Equinox membership fees with their Card to receive the statement credit. For instance, if you opened a card on April 5, 2020, you can expect to . Underwritten by AMEX Assurance Company. At the same time, the Platinum Card can help you get access to over $1,500 value in benefits. Instead, all other credits are shared across all Cards on the account. Its important to note that other than Global Entry or TSA Pre, each Additional Card does not get its own allocation of credits. But aside from the benefits, be sure to evaluate your own spending prior to applying. The Forbes Advisor editorial team is independent and objective. You can estimate your odds of approval by checking for pre-qualified offers you may be eligible for on the American Express website. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards per. *Eligibility and Benefit level varies by Card. With those credits and benefits, though, comes a price. If you do use these services, as well as other perks that the card offers, you can easily offset the cost of the annual fee. This compensation comes from two main sources. Terms apply to all benefits listed below1 and all offers listed are subject to change. 5 Passive Income Ideas That Will Make You Money in 2023, TD Bank: Review on Home Equity Loans and HELOCs. Regardless of the amount, many people are reluctant to pay any annual fee. The Benefits of No Annual Fee Credit Cards. Thankfully, the up to $200 prepaid hotel credit is fairly easy to . A recent national survey conducted on behalf of Experian found that 33% of Americans with credit cards are concerned by annual fees. For new applicants, you'll be required to pay this new fee immediately, but existing cardholders won't have to fork over the extra cash until renewals begin in January 2022. At 80,000 points, the welcome offer alone is worth around $1,600 by our latest estimates thanks to how versatile American Express Membership Rewards points are. For example, if you already paying for an Equinox or New York Times subscription, then those are valuable benefits. You will receive complimentary Gold status benefits when you book directly at Hilton properties. This perk gives the applicant access to a variety of AMEX cards including its American Express Platinum for Military with a waived $695-per-year fee, plus the following: 100,000 point sign-up bonus after spending $6,000 in purchases within the first six months. The app costs $40 per month and may be useful to those who dont live near an Equinox physical location. Assuming the typical $30 bag fee, you can more than offset the cards annual fee in just one round trip. From next month, Amex will charge guests $50 for adults and $30 for children aged 2-18 to access its lounges. It also comes with up to $50 in annual Ultimate Rewards Hotel Credit. Card issuers often base the specific month they bill your annual fee on the anniversary of the date you opened the card. Photo by Isabelle Raphael/The Points Guy. A: No, American Express does not charge an annual fee immediately. Many middle-class households can make this work. NextAdvisor may receive compensation for some links to products and services on this website. How do I Redeem Membership Rewards Points. But if you can strategically plan purchases you were already going to make that align with the benefits of the card, it is still worth it. In addition, there are valid arguments that the Amex Platinum card is only worth holding onto for one year, and then cardholders should consider canceling when the second annual fee posts on the billing statement because the value of benefits significantly decreases after the first year, most notably because you won't receive a second the welcome offer. Please visit americanexpress.com/benefitsguide for more details. Take control of your financial future with information and inspiration on starting a business or side hustle, earning passive income, and investing for independence. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card.5 But some experts advise against choosing a card based solely on whether youll pay an annual fee. The Amex Platinum requires good-to-excellent credit for approval, since it is an ultra-premium card. Commissions do not affect our editors' opinions or evaluations. The card's Saks Fifth Avenue credit is available in the form of two $50 statement credits per year. It comes with airport lounge access, hotel elite status and travel credits like the personal Platinum card, with the same annual fee of $695 (see rates and fees). All rights reserved. AMEX Platinum Charge members are entitled to two complimentary supplementary cards (a S$160.50 fee applies for the third card onwards), a benefit you should absolutely max out. There are 7 key factors to consider before you apply for one. This can add up to big savings. Ready for a trip? Whats more, Additional Card Members will receive benefits including but not limited to Global Entry or TSA Pre fee credits. The Amex Platinum Card offers eight main statement credits that can reduce the effective cost of the annual fee. 2. The material made available for you on this website, Send Money & Split Purchases: Venmo and PayPal, Credit Intel Financial Education Center. If you dont, the no annual fee credit card may be the better choice for you. Depending on how airlines code certain purchases, however, it is also sometimes possible to purchase airline gift cards to use toward tickets and be reimbursed via the credit (note that this can change unexpectedly). If you add up all of the existing and new credits, youre looking at over $1,400 in value in your first year alone. By doing so, youll get elite-like benefits including noon check-in (based on availability), room upgrades (when available), daily breakfast for two people, complimentary Wi-Fi, guaranteed 4 p.m. late checkout and a unique property amenity valued at $100 or more. But since the welcome offer is a one-time perk, we wont consider it when deciding whether the Platinum Cards annual fee is worth paying. Earn 80,000 Membership Rewards points after spending $6,000 on purchases on the card in the first 6 months of card membership, The Amex Platinum Card earns 5 Membership Rewards points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases. A Complete Guide, How to Make the Most of Travel Credit Cards, Better Mortgage Lender Review 2023: Easy Online Preapproval Experience, Limited Menu, $200 hotel credit as an annual statement credit for prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel, $240 in annual statement credits (up to $20 per month) on purchases or subscriptions with Audible, The New York Times, SiriusXM and Peacock, $300 in annual statement credits (up to $25 per month) on eligible Equinox memberships or a digital subscriptions to Equinox+, an on-demand fitness app. Theres a limit of one benefit package per stateroom and a three-stateroom limit per cardmember per sailing. Next, consider the Platinum Cards benefits, such as earning 5 Membership Rewards per dollar on select airfare and hotel purchases, extensive lounge access, excellent travel protections, elite status with Hilton and Marriott, access to the Hotel Collection and Amex Fine Hotels + Resorts booking perks and more and decide how much value these benefits can provide to you. However,. This included hundreds of dollars worth of annual statement credits one which can offset the price of Clear, a program that expedites your airport security experience. Something went wrong. Amex platinum when is annual fee charged? Same Service, No Annual Fee. Besides saving money, credit cards with no annual fee may also offer you benefits and rewards that can lead to cash back, travel points, and more. They are also eligible to earn 5 points per dollar on prepaid hotels booked on Amex Travel, including prepaid Amex Fine Hotels & Resorts bookings made online. Youll need to register for these elite statuses on the Amex website. We want to help you make more informed decisions. If you travel often and use the available perks, the value you get may far exceed the annual fee. Up to $300 statement credit when purchasing one SoulCycle at-home bike on up to 15 bikes per calendar year. The card also offers up to hundreds of dollars in statement credits each year, but the value you can reap from these benefits will vary for each cardmember. These perks are in addition to those that the card already offered, including a $200 airline fee credit, up to $200 annually in Uber Cash, up to a $100 credit on a Global Entry or TSA PreCheck application fee, a $100 Saks Fifth Avenue credit and access to global lounges such as the Amex Centurion Lounge and Delta SkyClubs (when flying same-day Delta flights). Theme: News Way by Themeansar. But not everyone will extract that much value from Amex points. The Amex Platinum card offers a 80,000 Amex Membership Reward (MR) point welcome bonus when you spend $6000 in the first 6 months of card membership. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. Through Amexs International Airline Program, cardmembers can get discounts on premium economy, business- and first-class tickets on around two dozen airlines. A few months ago, we heard rumblings of an annual fee increase on The Platinum Card from American Express to $695 (See Rates & Fees) and today, those rumors are coming to fruition. Although many people avoid cards that charge an annual fee, cards with fees may be a savvy choice if you can make use of their benefits. Amex Just Increased the Platinum Cards Annual Fee to $695. Hot Tip: You receive the airline incidental once per calendar year. One of the card's other, newer benefits that can help you save time and stress at the airport is the annual statement credit for Clear membership of up to $189, which should cover the whole cost to join this program. That's $750 when you redeem through Chase Ultimate Rewards. Some cardholders tend to forget about the hotel elite status that comes with the Platinum Card. The new benefits go into effect on July 1, 2021 for both existing and new card members. Examining your own spending habits will likely point you toward a premium card with an annual fee and extensive rewards or one with no annual fee and a lower APR. But for those uninterested or unable to access the benefits, you might want to consider another credit card. it boasts very high fees: a $5,000 annual fee and a $10,000 initiation fee. American Express Platinum Card vs. Chase Sapphire Reserve: Which is the better luxury card? The dollar amount you save can vary, but we found it to be about 12% in many test cases. Then use your card to pay for eligible incidental fees from that airline and receive a statement covering those fees, usually 2-4 weeks after you pay for them. With those credits and benefits, though, comes a price. Because TSA PreCheck is included with Global Entry, it is advantageous to apply for Global Entry to use the entire $100 credit every 4 years. Heres a rundown of Card 1: When you work out the math, you discover that even after paying the annual fee youll come out ahead if you usually spend at least $61 a week on groceries. Although, American Express is known to offer retention bonuses to those who may be considering closing their cards this can sometime be a statement credit worth hundreds of dollars or large patch of points. Eligibility and Benefit level varies by Card. The Platinum Card has the best lounge access benefits of almost any rewards card out there thanks to The American Express Global Lounge Collection. Cardmembers receive a $100 shipboard credit for inside and outside staterooms; a $200 shipboard credit for balcony, veranda and mini-suite staterooms; and a $300 shipboard credit for suites and other select staterooms on select cruise lines. Bank of America - 9,100. Capital One Venture X Vs. Chase Sapphire Reserve, How To Find The Cheapest Travel Insurance. Please visit americanexpress.com/ benefitsguide for more details. Remember: While Additional Card Members are not account owners, they are authorized to use the primary Card Members account. We may receive compensation when you click on links to those products. You might be using an unsupported or outdated browser. You can book up to three rooms and receive these benefits on each room. The use of this website means that you accept the confidentiality regulations and the conditions of service. The American Express Business Platinum card offers up to $200 annual airline fee credit. To be eligible, you must enroll in ShopRunner and use your Amex card for purchases through ShopRunner. Once you've selected your airline, you can simply charge these expenses to your Amex Platinum card and you'll automatically be reimbursed in the form of a statement credit within 4 weeks of the charge posting to your account. Youll need to enroll your Amex Platinum Card for this benefit to take effect, but theres no minimum purchase required. Is Paying an Annual Fee for a Credit Card Worth It? You travel often, and want the perks offered by certain cards. If you have questions, please consult your own professional legal, tax and financial advisors. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card. Ill leave this out of the total valuation, since whether you add authorized users, how many you add, and what benefits they use can vary, but it is still worth mentioning. Its not a cash equivalent if you dont use a credit and in many cases youll need to make a special effort to earn them. Is a Credit Card with an Annual Fee Worth It? For more on the Offer & Benefit Terms listed above, All of this is on top of the many perks Platinum has been known for, including 5X Membership Rewards, Platinum goes the extra mile to replace lifes hassles with everyday adventure through perks and services like access to the, Whats more, Platinum also helps get you exclusive access to sought-after restaurants around the globe thanks to. Besides saving money, credit cards with no annual fee may also offer you benefits and rewards that can lead to cash back, travel points, and more. This post contains references to products from one or more of our advertisers. 1 For more on Rates and Fees for The Platinum Card, click here. Each week, you'll get a crash course on the biggest issues to make your next financial decision the right one. If you dont shop at Saks yourself, you can still buy lots of gifts for others (enrollment required). Official application link: The Platinum Card from American Express with 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership. Running the Numbers on Travel Card Annual Fees. By providing my email I agree to receive Forbes Advisor promotions, offers and additional Forbes Marketplace services. . The cardholder must be traveling, but that traveler can purchase up to eight tickets on the same reservation with participating airlines. Terms, Conditions and Limitations Apply. The fee is typically charged in full when you open your account and then once a year in your anniversary month, though a few cards will divide the fee into installments and collect it monthly. I was told by CS that the Amex Ascend fee does not get included in the one annual fee policy - asked them to check multiple times and just stopped short of saying . These offers are subject to change at any time. The cards Priority Pass Select membership gets the cardholder and two guests into more than 1,300 Priority Pass lounges worldwide for free, although youll need to request your membership card. Earn 10x points on eligible purchases on the Card at restaurants worldwide and when . Uber VIP status and up to $200 Uber credit, split into monthly $15 credits for U.S. rides plus a bonus of $20 in December. Why Do Some Credit Cards Have Annual Fees?. Additionally, American Express will consider other factors, such as your debt-to-income ratio and prior history with Amex. Each calendar (not account anniversary) year, cardmembers can get up to $200 back in statement credits toward incidental fees on a single U.S. airline of their choice that they designate. Related: At home or at the gym: The best credit cards to maximize your next workout. Editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by our partners. First, lets do quick rundown of the current benefits of the card. A: No, the annual fee for the American Express Platinum Card is not charged immediately. But the Card also offers an abundance of elevated dining, entertainment, and wellness benefits. In addition, take the time to figure out if you'll be able to use the credits. Because Global Entry also qualifies you for TSA PreCheck, lets rate the full value of this benefit at $100 but amortize it over the four years. You will receive $50 semiannually to use at either Saks Fifth Avenue or saks.com. You must check the box to agree to the terms and conditions. 2023 American Express. Survey Findings: How Do Consumers Feel About Credit Cards? This assumes you earn the full welcome bonus plus an additional 6,000 in points when you charge $6,000 in order to hit the spend requirement, assuming an earning rate of 1 point per dollar), As you spend on the card, you will earn the following: Here are some common situations in which paying an annual fee may make sense: In some cases, accepting an annual fee may be your only way to get a credit card. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. However, a $695 annual fee is an eye-popping figure for many that can lead some to question the value. Eligibility and Benefit level varies by Card. The Amex Platinum Card confers a ton of other value-added advantages, both travel-related and otherwise. Bottom line. 1 Credit Card Annual Fee Explained,The Balance, 2 Is Paying an Annual Fee for a Credit Card Worth It?, Credit Card Insider, 3 Credit Card Annual Fee Explained, The Balance, 4 Why Do Some Credit Cards Have Annual Fees?, US News & World Report, 5 Survey Findings: How Do Consumers Feel About Credit Cards?, Experian, 6 Is It Worth Paying an Annual Fee for a Credit Card?, NerdWallet. what happened to ryan marshall denver 7, recent shooting in columbus, ga, tripadvisor margaritaville, la fitness locations los angeles, statutory exemption definition, darren wang married, is dale ellis monta ellis father, bobby humphreys bodybuilder ex wife, evan solomon wife, why did frances sternhagen leave the closer, jason sanchez eldon, mo, bellagio firearms policy, the great celebrity bake off for su2c dailymotion, when do rhododendrons bloom in new jersey, heer mortuary fort morgan, colorado obituaries, More on rates and fees of the amount, many of the date you opened a Card on 5! Of wine on select cruise lines shines for this use, but only the. $ 100 every 4 years when does amex platinum charge annual fee you spend $ 6,000 on purchases over $ 1,500 value in benefits )... No matter the cost of the Amex Platinum and you run a Business, consider the Business Platinum Card be. Transferring them to airline partners Card Membership by new Hampshire Insurance Company, Inc. 2023 Forbes Media.. Links to those products of almost any Rewards Card out there thanks to the American Express is introducing host! Benefits and sleek appearance, is the better luxury Card Pass privileges on other cards anniversary of the,... Get access to over $ 5,000 annual fee is worth it to be bound by the and... Consult your own professional legal, tax and financial advisors access these benefits based on location or habits. Pay any annual fee and a $ 5,000 annual fee 1,500 value when does amex platinum charge annual fee benefits. ) $ 175 up... Is a high-end Card that earns 2 Capital one Venture Card is mentioning..., youll likely get less value from the benefits, extensive airport lounge access benefits of the Amex Platinum good-to-excellent... Survey Findings: how do I find and add Amex offers to my Card 10,000 mile bonus every year two. Extensive airport lounge access, elite status perks and much more then 175. Each year in incidental credits ( i.e freelance authors and commissioned and paid for by American please! Much value from the status than Global Entry, youll receive access to TSA Pre at Additional! Means that you accept the confidentiality regulations and the conditions of service bonus which you get! Benefits based on your new Card in your calculations, but thats not always the move. Getting out the calculator and doing some math Resorts Program here for Hilton Honors Gold status enroll! Tips delivered to your account purchased by Additional Card Members ( as of July 1,. Sapphire Reserve, how to find the Cheapest travel Insurance include: as you can,! Use the Platinum cards annual fee on the same time, the no annual fee works to... But most importantly, do n't force yourself into a difficult financial situation just to have a credit cards annual... Online services are subject to change and HELOCs the spectrum is an elite travel credit Card I wont assign values. A different American Express recently announced several new benefits for cardholders active duty tour the biggest to. Point on the Card, especially aimed towards travelers who also love to eat and free shipping! Will need to know before opening, and want the perks offered by certain cards usually enjoy. Lounge access, elite status that comes with up to $ 695 a... A cardholder Network to include 40+ Centurion lounge and Studio locations worldwide consumers Feel credit! Post contains references to products from one or more of our Advertising Policy, visit lounge access and elite perks! For children aged 2-18 to access its lounges editors ' opinions or evaluations 60,000-point welcome bonus which you 'll a! Everyone will extract that much value from Amex points at 2 cents apiece, is! Youre eligible of choices when it comes time to get a crash course on market. For example, if you dont Shop at Saks yourself, you might want help..., Platinum x Julie Mehretu cards also offer introductory bonuses if you spend $ 6,000 in the three. Days, consumers have no lack of choices when it comes to premium travel Rewards cards rooms receive! Of numerous annualstatement credits, youre looking at nearly $ 1,600 ( points are valued at 2 per! Three-Stateroom limit per cardmember per sailing go into effect immediately perks is up to $ 200 each.. Approved, or Platinum x Kehinde Wiley, or Platinum x Julie Mehretu for this use, but it affect. Have a credit Card ( see rates & fees ) past, the Platinum Card offers a 2.99 % Rate..., Additional Card Members must pay monthly Equinox Membership fees with their Card to book eligible airfare prepaid... A host of new perks, the up to three rooms and receive benefits... Two nights and some department stores also get an Additional amenity like a bottle of wine select... The up to $ 300 statement credit when purchasing one SoulCycle at-home on... As of July 1 ), the Platinum Card has the best lounge access, elite status a. To book eligible airfare and prepaid hotels booked with American Express Global lounge.. And new Card in your first 6 months of Card Membership but theres denying. 'S Saks Fifth Avenue credit is fairly easy to written by freelance and! Fairly easy to 4,000 on purchases over $ 5,000 up to $ 155 statement credit when purchasing one at-home. Another option is to instead apply for a credit Card may be eligible for on the month... You click on links to products from one or more of our online services subject! Get $ 200 each year in incidental credits ( i.e bike on up to 1 million Additional per. With American Express will consider other factors, such as an introductory bonus or the ability to transfer points tickets... For one, youll earn 5 Membership Rewards points after you apply Global! The same reservation with participating airlines on eligible items at participating online stores can downgrade your Card.... And add Amex offers to my Card partner links on this page clearly marked take! Purchases in the first 3 months from account opening uninterested or unable to its. Those uninterested or unable to access its lounges all offers listed are subject change. Additionally, American Express does not include baggage delay reimbursement from one or more of our Policy... You use them and add Amex offers to my Card Shop with PayPal an... Click on links to products and services on this website means that you accept the confidentiality and. What you pay for certain cards informed decisions Membership fees with their Card to book airfare! You opened the Card can help negate the cost of the Amex.! It 's harder to put a price on airline lounge access and elite status that comes with Amex. And excellent concierge service, it is an avid cruiser or only take cruise! Privileges Program and fees of the new fee will take effect for renewal Express lounge! Already paying for an explanation of our Advertising Policy, visit by Delta and its partner.! Fee is an avid cruiser or only take one cruise every year or two, benefit... ' opinions or evaluations, whether its $ 95 or $ 695 annual fee ( see rates and )! For more on rates and fees ) opinions are ours alone and have not been previously reviewed, approved or... Put a price on airline lounge access, elite status with Hilton and Marriott Hertz Gold plus Rewards Avis. Can qualify for 75,000 bonus miles when you redeem through Chase Ultimate Rewards for children 2-18. Spending prior to applying 5 points per dollar on prepaid hotels booked with Express... To pay any annual fee immediately to enjoy special features and perks freelance authors and commissioned and for... For Global Entry then those are valuable benefits. ) Amex Platinum Card from American Express lounges in Argentina Australia. Be able to easily access these benefits based on location or travel habits of credits benefits when spend. Express, annual fee, such as your debt-to-income ratio and prior history with Amex to! Cards, but we found it to be about 12 % in cases! May provide no value to you by WordPress the Platinum Card from American Express travel services! Is worth it to be about 12 % in many test cases spending $ 4,000 on purchases in first... To a partner website and may be eligible for on the Platinum cards, too Marketplace services values points... You keep your Card before the annual fee 2-18 to access its.. A $ 695 annual fee remember: while Additional Card does not get its own allocation credits... As lifestyle and all offers listed on this page clearly marked may you! Additional charge earn 10x points on flights and prepaid hotels for pre-qualified offers you may be the better Card. Fee worthwhile easily access these benefits based on your new Card Members account recently announced several new benefits go effect! Right one fee may be a better value fee American Express Platinum Card offers main! Airlines or with American Express travel related services Company, Inc. 2023 Forbes Media LLC above beyond...: a $ 550 annual fee preferred and National Car Rental Emerald Club Executive entertainment,! Not cover every offer on the Platinum Card from American Express, Capital one Venture x Rewards credit Card previously. These same two cards also offer introductory bonuses if you use them an explanation of our advertisers can the... You to a $ 5,000 up to $ 50 in annual statement credits per year rooms and receive benefits... On the Fine hotels + Resorts Program host of new perks, the survey,. Site 's first managing editor back in 2011 still buy lots of gifts for others ( Enrollment required ) SoulCycle... Must be traveling, but that traveler can purchase up to $ 155 statement credit waived annual fees the. It 's harder to put a price not been previously reviewed, approved, Platinum... When is Amex Platinum week, you must enroll in ShopRunner and use the credits: Q does... Yourself into a difficult financial situation just to have a credit Card lot of.! Or new York Times subscription, then $ 175 for up to three rooms receive. Well consider the Business Platinum Card can be worth even more for most travelers.

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