Youll need to register for these elite statuses on the Amex website. For example, suppose you have poor credit. To view rates and fees for The Platinum Card from American Express please visit this page. For one, youll earn 5X points on flights and prepaid hotels purchased by Additional Card Members. 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. Please visit americanexpress.com/benefitsguide for more details. 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. 3 Card Members must pay monthly Equinox membership fees with their Card to receive the statement credit. 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. Take control of your financial future with information and inspiration on starting a business or side hustle, earning passive income, and investing for independence. This is just one scoring method and a credit card issuer may use another method when considering your application. 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. A recent national survey conducted on behalf of Experian found that 33% of Americans with credit cards are concerned by annual fees. The fee is charged most often in these two cases: 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.1 The fee generally ranges from $49 to $550,2 though you may find an annual fee as low as $253or as high as several thousand dollars.4 But there are also many no annual fee credit cards. 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. So, I wont assign specific values to them, but will outline their scope so you can estimate their value for yourself. 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. If you want similar travel perks to the Amex Platinum and you run a business, consider The Business Platinum Card from American Express. The Business Platinum Card from American Express recently announced several new benefits for cardholders. Get up to $300 back per calendar year on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your Platinum Card. I'm interested in getting the Amex Platinum card with waived annual fees for military on my active duty tour. 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. 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. $240 Digital Entertainment Credit: Get up to $20 back each month on eligible purchases made with your Platinum Card on one or more of the following: Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times. Additionally, all Equinox memberships include complimentary access to the Equinox+ fitness app. 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. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Your financial situation is unique and the products and services we review may not be right for your circumstances. 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. 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. If the annual fee is too expensive, don't fret there are several other credit cards you can consider without a steep annual fee. Please visit americanexpress.com/benefitsguide for more details. Card Members can apply for TSA Pre through any Authorized Enrollment Provider. Credit Score ranges are based on FICO credit scoring. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card. Please try again later. You can downgrade your card to a different American Express card that doesnt have an annual fee. Past performance is not indicative of future results. 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. In an attempt to make the Platinum Card more lifestyle-focused, Amex added a digital entertainment credit that offers reimbursement for the following services: Audible, Peacock, SiriusXM and The New York Times. 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. One way to have the fee waived in full is to qualify under the Military Lending Act or Servicemembers Civil Relief Act. 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. We may receive compensation when you click on links to those products. The American Express Business Platinum card offers up to $200 annual airline fee credit. Same Service, No Annual Fee. American Express Platinum Card vs. Chase Sapphire Reserve: Which is the better luxury card? 2 Coverage is provided by New Hampshire Insurance Company, an AIG Company. Platinum cardholders and up to two guests are also granted entry into Amexs Centurion Lounges, including lounges in multiple U.S. cities as well as ones at airports in Hong Kong (HKG) and London (LHR). In the past, the welcome offer was 100,000 Membership Rewards points after spending $6,000 in the first three months. Technically, this credit is meant to be used toward charges such as checked baggage fees, seat assignment fees, airline lounge passes and similar expenses. Instead, we'll look at the card's ongoing benefits. However, it does have a $550 annual fee. 4 Digital Entertainment Statement credits are earned on a monthly basis, up to $20 a month. There is no guarantee youll receive an offer of any type. 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. Comparing Annual vs. No Annual Fee Credit Cards. Someone who wont use the majority of these statement credits should probably skip this card. Benefits include a $300 annual Capital One Travel credit, airport lounge access and a large welcome bonus. In addition, take the time to figure out if you'll be able to use the credits. 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 Platinum Card from American Express ($695 annual fee; see rates and fees) currently offers: Enrollment is required for select benefits. 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. It's not the only fee you need to worry about with The Platinum Card from American Express, either. Is a Credit Card with an Annual Fee Worth It? 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). An even lower fee option includes the Chase Sapphire Preferred Card. 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. Lets look at each credit individually and how you can take full advantage of it. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. Plus, you'll receive an automatic 10,000 mile bonus every year you keep your card open. Forbes Advisor created additional star ratings so that you can see the best card for specific needs. Plus, youll earn 5 points per dollar on prepaid Hotel Collection stays that are booked online. Platinum card from american express exclusively for mercedes. How much you anticipate spending during that introductory period also helps determine which card makes more sense for you. The Platinum Card offers a suite of elevated benefits, including wellness, entertainment, and travel credits. 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. You charge enough that the rewards you earn offset the fee. No Annual Fee Credit Cards. On cards that offer better-than-average rewards and therefore cost credit card companies more to provide. Apply and select your preferred metal Card design: classic Platinum Card, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Today well consider The Platinum Card from American Express, which has a $695 annual fee (see rates and fees). 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. Plus, your own feed of TPG content. Compare the cost in points or miles to cash, and see which option is best. 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. From next month, Amex will charge guests $50 for adults and $30 for children aged 2-18 to access its lounges. Our points-obsessed staff uses a plethora of credit cards on a daily basis. The dollar amount you save can vary, but we found it to be about 12% in many test cases. The only downside is that youll need to pay a $39 service fee per ticket, even if you book using the new online chat service. It could be another American Express card, a business card if you are a business owner or a comparable travel credit card that may be a better option for you. 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. That's enough to give almost anyone sticker shock. Use of this site constitutes acceptance of our Terms of Use, Privacy Policy (Your California Privacy Rights) and California Do Not Sell My Personal Information. 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. Visit americanexpress.com to learn more. Nordstrom - 15,000. For new card members (as of July 1), the new fee will go into effect immediately. For rates and fees of American Express Gold Card , please click here, For rates and fees of The Platinum Card from American Express, please click here. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards perRead More.
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