How do I find and add Amex Offers to my Card? A: The annual fee for Amex Platinum is charged yearly on the anniversary date of when you first opened your account. Read more about Select on. The Platinum Card from American Express, 17 airline and three hotel transfer partners, $200 annual airline fee statement credits, Global Entry or an $85 fee credit for TSA PreCheck, American Express Global Lounge Collection, Gold Elite status in the Marriott Bonvoy program, purchase airline gift cards to use toward tickets, How to make sure youre getting your Amex Platinum Uber credits, enroll your Amex Platinum Card for this benefit to take effect, Your guide to the Amex Platinum Saks Fifth Avenue credit, Key things to know before getting Global Entry, How the Amex Platinum card easily saved me $200 on a one-night hotel stay. But not everyone will extract that much value from Amex points. Adding Card Members to your account can be a great way to maximize points-earning potential and extend benefits to those you care about. Sign up for our daily newsletter! 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. Amex Platinum cardholders can add up to three authorized users to their account for a total of $175 per year. See. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. Get $200 back in statement credits each year on prepaid hotel stays at either Fine Hotels + Resorts or The Hotel Collection, which requires a minimum two-night stay. The primary Card Member is responsible for all spending activity and must pay for all charges made by Additional Card Members. 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. . 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. Compare the wide range of credit cards and choose the one that suits you best. By Allan Halcrow | American ExpressCredit IntelFreelance Contributor. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. The new benefits go into effect on July 1, 2021 for both existing and new card members. Find the best credit card for you by reviewing offers in ourcredit card marketplaceor get personalized offers viaCardMatch. We may receive compensation when you click on links to those products. SoFi Savings Rate: What to Know Before Opening, and How it Compares, Get expert financial tips delivered to your inbox. It also earns 3 points per dollar on dining, 5 points per dollar on travel purchased through Chase Ultimate Rewards and 2 points on all other travel. A: No, American Express does not charge an annual fee immediately. Terms, Conditions and Limitations Apply. All Credit Intelcontent is written by freelance authors and commissioned and paid for by American Express. Instead, we'll look at the card's ongoing benefits. The card's main fitness-focused statement credit is probably too targeted to be of use to a wide audience, but if you live in a big city where there are Equinox gyms, it's still worth mentioning. NextAdvisor may receive compensation for some links to products and services on this website. Plus Ups are excluded. Becky Pokora is an avid traveler with a particular love for the outdoors. However,. (you may be eligible for an. That's only $1000 of spending per month required. But aside from the benefits, be sure to evaluate your own spending prior to applying. You will receive complimentary Gold status benefits when you book directly at Hilton properties. The venerable Platinum Card has a $695 annual fee. 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. The dollar amount you save can vary, but we found it to be about 12% in many test cases. An annual membership to the Delta SkyClub alone starts $545. 2. It doesnt come with many travel perks, though, other than up to a $100 application fee credit towards Global Entry or TSA PreCheck every four years. 3 Card Members must pay monthly Equinox membership fees with their Card to receive the statement credit. Yes, there are some no annual fee credit cards designed for people in this situation. 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. Check here before booking an award fare. 7 Factors to Consider When Comparing Credit Cards. Terms apply to American Express benefits and offers. Please visit americanexpress.com/ benefitsguide for more details. This is just one scoring method and a credit card issuer may use another method when considering your application. This card shines for this use, but overall the star ratings may differ when compared to other cards. Monthly membership costs $12.95 plus local sales tax, so the statement credits should cover most, if not all, of that. Terms, Conditions and Limitations Apply. Blue Cash Everyday Card Cash Back Starts Here. Morgan Stanley Amex Platinum card members also get one authorized user at no additional charge (a $175 annual value) and their American. checked bag fees, in-flight drinks, etc.) A card with no balance transfer, cash advance fees, annual fees, or minimum interest charges may sweeten the deal to make it worthwhile. Some offers are no longer available. Although the rewards you earn generally are limited to the brand, the annual fee may still be a good deal. 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. The Platinum Card has a $695 annual fee.1 Though the fee is paid once a year, the math works out to about $58 a month. Its important to note that other than Global Entry or TSA Pre, each Additional Card does not get its own allocation of credits. A credit card annual fee is what you pay for certain cards usually to enjoy special features and perks. Apply and select your preferred metal Card design: classic Platinum Card, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Related: At home or at the gym: The best credit cards to maximize your next workout. What benefits do amex platinum authorized users get? Cost includes $12.95 plus applicable local sales tax. Whether you're a current Amex Platinum cardholder or are considering applying for it, it is advantageous to consider all options available. Up to $300 statement credit when purchasing one SoulCycle at-home bike on up to 15 bikes per calendar year. Select independently determines what we cover and recommend. To view rates and fees for The Platinum Card from American Express please visit this page. 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. 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. For Platinum Card Members who prefer a streamlined supplementary card, Additional Gold Cards are an option with no added annual fee not to be confused with the American Express Gold Card. In the past, the welcome offer was 100,000 Membership Rewards points after spending $6,000 in the first three months. 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. You will receive $50 semiannually to use at either Saks Fifth Avenue or saks.com. Uber Cash and Uber VIP status is available to Basic Card Member only. For instance, if you opened a card on April 5, 2020, you can expect to . If your application is not approved for those options, you may have to choose between the annual fee or doing without a card. American Express Platinum Charge Card is often called 1712 - a reference to its princely annual fee of S$1,712. You will receive access to the American Express Global Lounge Collection, which includes: Priority Pass membership, Delta Sky Club access and Centurion lounges. Amex Platinum Quick Facts. Editorial content from NextAdvisor is separate from TIME editorial content and is created by a different team of writers and editors. Whether youre an avid cruiser or only take one cruise every year or two, this benefit is worth mentioning. 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. In addition, take the time to figure out if you'll be able to use the credits. Bank of America Cash Rewards - 8,000. But that cards perks are rich. That's $900 toward travel when you redeem through Chase Ultimate Rewards. Like all American Express Cards, the Platinum Card allows you to add Additional Card Members, commonly known as authorized users, to your account. Youll also get an additional amenity like a bottle of wine on select cruise lines. Credit Score ranges are based on FICO credit scoring. Please visit americanexpress.com/benefitsguide for more details. Earn 5X total points on flights 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. The card has a $95 annual fee. Please view our advertising policy page for more information. Card Members can apply for TSA Pre through any Authorized Enrollment Provider. Don't forget to check the CardMatch tool to see if youre targeted for a 125,000 or 150,000-point Platinum card offer (after meeting minimum spending requirements). Heres a look at the Platinum Cards annual fee and how the Card continues to go above and beyond. That said, theres no denying that $695 is a lot of money. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. Eligibility and Benefit level varies by Card. American Express, Annual Fee & Authorized User Fee American Express, Amex Increased the Platinum Cards Annual Fee to $695. You want features available on cards that charge a fee, such as an introductory bonus or the ability to transfer points. TPG values Hilton Honors Gold status at $1,255 and Marriott Bonvoy Gold Elite status at $840 based on certain stay and spending habits. I got lucky and found $1k in cash in his sock drawer. Many of the benefits, like the entertainment and Equinox credits, are essentially forcing some customers to spend more money than they normally would defeating the purpose of the card saving you money. Underwritten by AMEX Assurance Company. With perks like $120 in annual dining statement credits ($10 monthly statement credit) and up to $120 in Uber Cash ($10 Uber Cash each month) . 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. 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. However, there are a few ways to waive the Amex Platinum annual fee if youre eligible. 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. Jul 27, 2022 Annual fees on the American Express Platinum card are typically charged on the account anniversary date. Another option is to instead apply for a different version of the Amex Platinum. 21.99% p.a. | To decide whether its worthwhile opening the card and keeping it, you will need to look at its ongoing qualities and how much value youre likely to reap from them. The Black Card offers 1.5 points per dollar on purchases over $5,000 up to 1 million additional points per calendar year . One airline-branded card, for example, offers a free checked bag for the cardholder and a companion. Take control of your financial future with information and inspiration on starting a business or side hustle, earning passive income, and investing for independence. 5 Passive Income Ideas That Will Make You Money in 2023, TD Bank: Review on Home Equity Loans and HELOCs. All Rights Reserved. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). $695 annual fee . The material made available for you on this website, Send Money & Split Purchases: Venmo and PayPal, Credit Intel Financial Education Center. *Eligibility and Benefit level varies by Card. 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. Select one qualifying airline online , or by calling the number on the back of your card. You can downgrade your card to a different American Express card that doesnt have an annual fee. 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. Please try again later. Please visit americanexpress.com/benefitsguide for more details. Thinking of getting 1 charge card. Bottom line. However, this depends on you leveraging each credit to its maximum. I'm interested in getting the Amex Platinum card with waived annual fees for military on my active duty tour. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. Plus, youll earn 5 points per dollar on prepaid Hotel Collection stays that are booked online. Enrollment required. We earn a commission from affiliate partners on many offers and links. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. It's harder to put a price on airline lounge access and elite status with Hilton and Marriott. Want more credit card news and advice from TPG? 10X miles on hotels and rental cars, 5X miles on flights when booked via Capital One Travel; unlimited 2X miles on all other eligible purchases, Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening. To take advantage of this benefit, you must link your Platinum Card to your Uber account. You can book up to three rooms and receive these benefits on each room. 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. These are provided as guidelines only and approval is not guaranteed. You will receive up to $189 per year in statement credit to apply for CLEAR, a biometric security program located at airports and stadiums across the U.S. We only value this at $100 because members of select airline loyalty programs can apply for CLEAR at a discounted rate. If anyone on our team wouldnt recommend it to a friend or a family member, we wouldnt recommend it on The Points Guy either. If the annual fee is too expensive, don't fret there are several other credit cards you can consider without a steep annual fee. 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. 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. 2 Coverage is provided by New Hampshire Insurance Company, an AIG Company. The cardholder must be traveling, but that traveler can purchase up to eight tickets on the same reservation with participating airlines. Youll need to register for these elite statuses on the Amex website. The Platinum card also has trip cancellation, interruption and delay insurance. Related: How the Amex Platinum card easily saved me $200 on a one-night hotel stay. 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. These are federal laws that provide certain protections to active duty military. Editorial Note: We earn a commission from partner links on Forbes Advisor. 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. DEXSTA's Visa Platinum Card Offers A 2.99% Introductory Rate For Borrowers. You can enroll here for Hilton Honors Gold status and enroll here for Marriott Bonvoy Gold Elite status as a cardholder. You have poor or limited credit history and cant qualify for a no annual fee credit card. 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. Read more in TPGs full guide on the Fine Hotels + Resorts Program. In most of the other situations listed above, you can make the best decision by getting out the calculator and doing some math. 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. Plus, the various other benefits of the card can be worth even more for most frequent travelers. Whats more, Platinum also helps get you exclusive access to sought-after restaurants around the globe thanks to Global Dining Access by Resy, your personal digital dining concierge. Cardholders earn 5 points per dollar on airfare when booked directly with airlines or with American Express Travel. Benefits include a $300 annual Capital One Travel credit, airport lounge access and a large welcome bonus. 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. To enjoy the features and perks of some credit cards, you pay an annual fee. But that is only valuable to you if you use them. The material made available for you on this website, Send Money & Split Purchases: Venmo and PayPal, Credit Intel Financial Education Center. If youre approved for Global Entry, youll receive access to TSA Pre at no additional charge. 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. One TPG writer received 30,000 bonus points in 2021 just for keeping his card open another year. American Express will fully refund the annual fee if a cardholder cancels a credit card less than 30 days after the posting date of the read full answer How do I get a credit card annual fee waived? Overall, the Amex Platinum still remains worth it if you can take advantage of the benefits without overextending yourself. 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. Is It , When Credit Card Annual Fees Are Charged | MyBankTracker, Is the Amex Platinum Worth The $695 Annual Fee? For you by reviewing offers in ourcredit card marketplaceor get personalized offers viaCardMatch $ 4,000 on purchases on your card. Dollar on purchases in the past, the annual fee credit card consider all options available Rate for.. Fee American Express does not charge an annual membership to the brand, the welcome was... Benefits of the Amex Platinum cardholder or are considering applying for it, it is advantageous consider! On the same reservation with participating airlines and cant qualify for a different American Express please visit this.... 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