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The Platinum Card® from American Express Review

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The Platinum Card® from American Express Review

Advertiser Disclosure
The Platinum Card® from American Express

Published July 14, 2017

Card Review

The Platinum Card® from American Express (a SmartAsset advertiser) is an enticing option for those looking for significant travel rewards and a charge card that has flexible spending limits. First and foremost, we must make clear that The Platinum Card® from American Express is a charge card, not a credit card, meaning that you cannot carry a balance on the card. You must pay your balance in full each month with this card. However, with this minor inflexibility and an admittedly high annual fee come quite a few noteworthy benefits. Upon first receiving the card, users of The Platinum Card® from American Express can earn 60,000 Membership Rewards® points by spending $5,000 within 3 months of making an account. In addition, users of the card can earn 5x Membership Rewards® points on airfare booked through directly with airlines or through American Express. These points can be redeemed on travel, online shopping, gift cards, entertainment, dining, etc. or can be transferred to airline rewards programs like Delta SkyMiles® or hotel rewards programs like Hilton Honors™.

Just by signing up for the card, however, you are already entitled to a whole host of complimentary services and benefits. In terms of flying, all Platinum Card® holders are provided with $200 worth of credit at a participating airline of their choice that can be used on any incidental travel fee such as checked baggage or in-flight meals and entertainment. Outside of the airport, the card allows you to skip ahead to higher levels of designated reward programs, letting you enroll in car rental programs like the Hertz Gold Plus Rewards and hotel programs like Hilton Honors™ Gold Status. Finally, as a Platinum Card® holder, you will have access to American Express’ Concierge services to help you arrange any dining or entertainment plans you may need.

In summary, The Platinum Card® from American Express provides a number of high value travel perks at the cost of a relatively large annual fee and the inability to carry a balance. While this combination might not fit everyone, if you are a frequent traveler, The Platinum Card® from American Express might be the right card for you.

Rewards and Benefits

  • Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
  • Enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings.
  • 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
  • 5X Membership Rewards® points on prepaid hotels booked on amextravel.com
  • Enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
  • $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
  • $550 annual fee
  • Terms Apply.

Requirements, Costs & Fees

  • Credit needed: Excellent, Good
  • Purchase APR: N/A
  • APR for Cash Advances: N/A.
  • Cash Advance Fee: N/A.
  • Penalty APR: N/A.
  • Annual Fee: $550.
  • Foreign Transaction Fee: None
  • Late Payment Fee: Up to $38.
  • Returned Payment: Up to $38.
  • See all Rates and Fees

Apply for a The Platinum Card® from American Express

Editorial Note: This content is not provided by the issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the issuer.

Advertiser Disclosure: The card offers that appear on this site are from companies from which SmartAsset.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). SmartAsset.com does not include all card companies or all card offers available in the marketplace.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.