There are even more places your Platinum Card can get you complimentary entry and exclusive perks. Please visit americanexpress.com/ benefitsguide for more details. The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. 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. We'll run a soft credit check to find special offers, but it wont affect your credit score. 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. If you have questions, please consult your own professional legal, tax and financial advisors. What benefits do amex platinum authorized users get? When does the annual fee kick in for the platinum? Learn 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. Although many of these premium cards charge high annual fees, the benefits, statement credits and earning potential they provide can make paying for them worthwhile. Comparing Annual vs. No Annual Fee Credit Cards. This site does not include all credit card companies or all available credit card offers. 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. Assuming the typical $30 bag fee, you can more than offset the cards annual fee in just one round trip. | BestCreditCard. Thinking of getting 1 charge card. CNBC, When is Amex Platinum annual fee charged? 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. The card's Saks Fifth Avenue credit is available in the form of two $50 statement credits per year. I would like to subscribe to the NextAdvisor newsletter. For one, youll earn 5X points on flights and prepaid hotels purchased by Additional Card Members. Earn Up to $150 Back When You Shop With PayPal. Related: At home or at the gym: The best credit cards to maximize your next workout. Survey Findings: How Do Consumers Feel About Credit Cards? Gold status includes: upgrades when available, late checkout and enhanced Wi-Fi. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. Gold status includes: daily food/beverage credit, upgrades when available, fifth night free when using points and free Wi-Fi. 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. Clear expedited airport security program: Is it worth it? For rates and fees of the Amex Platinum, click here. American Express has expanded The Centurion Network to include 40+ Centurion Lounge and Studio locations worldwide. Blue Cash Everyday Card Cash Back Starts Here. Assuming you take one or two rides or place an Uber Eats order in the U.S. each month, its easy to max out this perk. Platinum cardholders can book stays through the Amex Fine Hotels + Resorts program. Your financial situation is unique and the products and services we review may not be right for your circumstances. 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. You must check at least one of the boxes to proceed. The value of the credits we tallied up doesn't take into account other American Express features such as *purchase protection, travel insurance and concierge service, among others. If you dont, the no annual fee credit card may be the better choice for you. . Equinox is a pricey fitness club with limited locations, and the entertainment credit is limited to just a handful of subscription services, these benefits deliver questionable value when justifying the annual fee. Depending on your spending preferences, that can mean big travel, wellness, and entertainment opportunities. By providing my email I agree to receive Forbes Advisor promotions, offers and additional Forbes Marketplace services. The $200 . At the same time, the Platinum Card can help you get access to over $1,500 value in benefits. 5 Benefits are only available for Fine Hotels + Resorts or The Hotel Collection properties booked through American Express Travel. Forbes Advisor created additional star ratings so that you can see the best card for specific needs. Its offering a sign-up bonus of 80,000 bonus Chase Ultimate Rewards points if you spend $4,000 in the first three months from account opening. When you pay for your eligible Equinox membership or the Equinox+ fitness app, youll receive up to $300 in statement credits each year. 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. 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. Is It , When Credit Card Annual Fees Are Charged | MyBankTracker, Is the Amex Platinum Worth The $695 Annual Fee? Macys American Express - 6400, 19,000. interest rate. Please visit americanexpress.com/benefitsguide for more details. 8 For more on Offer & Benefit Terms for The Platinum Card, click here. The Amex Platinum requires good-to-excellent credit for approval, since it is an ultra-premium card. 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. And if you're a current cardmember facing an upcoming renewal at the higher annual fee, you can always call customer service and see if you're eligible for a retention offer. She previously covered travel and credit cards as lifestyle. 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. Amex Just Increased the Platinum Cards Annual Fee to $695. The Platinum Card has the best lounge access benefits of almost any rewards card out there thanks to The American Express Global Lounge Collection. Compare the cost in points or miles to cash, and see which option is best. 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. If anyone on our team wouldnt recommend it to a friend or a family member, we wouldnt recommend it on The Points Guy either. But those benefits don't come cheap: The Amex Platinum annual fee just increased to a whopping $695 (see rates & fees). Add up to three authorized users for a fee of $175 per year (see. You will receive up to $100 every 4 years after you apply for Global Entry. Editorial Note: We earn a commission from partner links on Forbes Advisor. If you have travel purchases like flights and hotels coming up, you can take advantage of the 5X points for every dollar spent on travel booked through American Express. Adding Card Members to your account can be a great way to maximize points-earning potential and extend benefits to those you care about. Terms, Conditions and Limitations Apply. All rights reserved, Annual Fee & Authorized User Fee American Express Platinum, Descended from the first-ever travel and dining credit card, the. I got lucky and found $1k in cash in his sock drawer. Here is a list of the benefits you will receive in your first year of card membership: With over $3,500 in potential value, it's easy to justify having the American Express Platinum Card for one year even with a nearly $700 annual fee. 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. Amex Platinum Quick Facts. 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. Call AMEX member services and ask about applying for the AMEX platinum card. Though rental car perks are hard to quantify, the conveniences, discounts and time-saving benefits like guaranteed availability and return grace periods can be invaluable especially with recent shortages. 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. The Platinum Card also gets cardholders into Delta Sky Clubs on same-day flights operated by Delta and its partner airlines. 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: Earn 20% back as a statement credit on purchases when you use your new Card to check out with PayPal at merchants in the first 6 months of Card Membership, up to $150 back. It also comes with up to $50 in annual Ultimate Rewards Hotel Credit. Check here before booking an award fare. The American Express Platinum Card, known for its prestigious benefits and sleek appearance, is a card worth bragging about. To enjoy the features and perks of some credit cards, you pay an annual fee. The Benefits of No Annual Fee Credit Cards. 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. . 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. Step 3. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. What Is a Credit Card Annual Fee? To view rates and fees for The Platinum Card from American Express please visit this page. 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. Underwritten by AMEX Assurance Company. 3. $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Terms apply to American Express benefits and offers. . 21.99% p.a. Please review. 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. The statement credits alone could provide nearly $2,000 in value, far more than the cost of the annual fee. Cardholders earn 5 points per dollar on airfare when booked directly with airlines or with American Express Travel. Eligibility and Benefit level varies by Card. 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. This can help negate the cost of the $250 annual fee (See Rates & Fees). DEXSTA's VISA Platinum is just that type of card. You will get $20 back each month for one or more of the following services: Peacock, The New York Times, Audible, Sirius XM, Hulu, ESPN, The Disney Bundle, Disney+ (enrollment required). 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. 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. 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. Underwritten by AMEX Assurance Company. The primary Card Member is responsible for all spending activity and must pay for all charges made by Additional Card Members. In the right hands, the classic status card's staggering annual fee is well justified. Starting July 1, 2021, the card will have an annual fee of $695, up from the previous $550 . (you may be eligible for an. Remember: While Additional Card Members are not account owners, they are authorized to use the primary Card Members account. Cost includes $12.95 plus applicable local sales tax. 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