What Is the Platinum Card and How Does It Work

The Platinum Card is a premium credit card offered by American Express, designed for individuals who want to earn rewards and enjoy exclusive benefits.

It offers a wide range of benefits, including a generous sign-up bonus, travel perks, and luxury experiences.

The card comes with a hefty annual fee, which can be a deterrent for some, but for others, the rewards and benefits make it well worth the cost.

The Platinum Card also offers a generous points system, where cardholders can earn 5x points on air travel and hotels, and 1x point on everything else.

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The Amex Business Platinum Card comes with a wide range of benefits, including access to over 1,300 airport lounges worldwide. These lounges include Amex Centurion lounges, Delta Sky Clubs, International American Express lounges, Escape Lounges, and Priority Pass Select lounges.

You can also enjoy exclusive reservations at high-end restaurants through the Amex Business Platinum Card's partnership with Resy. This benefit provides access to premium events and other perks for foodies.

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Some of the key benefits of the Amex Business Platinum Card include:

The card also offers a range of travel insurance and purchase protection benefits, including rental car damage protection, trip cancellation/interruption insurance, and purchase protection.

The Amex Business Platinum Card is packed with valuable benefits that can help offset its annual fee. It offers statement credits, purchase protections, and travel perks that can make your journey more comfortable.

You can earn 5 Membership Rewards points per dollar spent on flights booked directly with airlines or with American Express Travel. This is a great way to rack up points on travel expenses.

The card also offers 5 points per dollar on prepaid hotel purchases booked through amextravel.com, 2 points per dollar on other travel expenses booked through amextravel.com, and 1 point per dollar on all other spending.

Amex Business Platinum Card members have access to the Amex Fine Hotels & Resorts program through Amex Travel. This program offers perks like room upgrades, free breakfast, late checkout, free Wi-Fi, and a unique amenity at each hotel.

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You can also book upscale properties through The Hotel Collection and receive benefits that include property credits and room upgrades.

Redemptions within the American Express Membership Rewards travel portal yield a value of about 1 cent per point. This makes them slightly less valuable than an outright transfer to a partner but still worth more than if you redeemed them for gift cards or merchandise.

The Platinum Card from American Express offers automatic rewards on travel expenses. You'll earn 5 Membership Rewards points per dollar spent on flights booked directly with airlines or with American Express Travel.

Automatic statement credits can also be a big perk. American Express will provide a statement credit of up to $120 for Global Entry fees every four years.

Automatic enrollment in Global Entry and TSA PreCheck benefits is also a convenient feature. With Global Entry, you'll get to use a special lane when you return to the U.S. from overseas for faster immigration and customs clearance.

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The American Express Platinum Card is a premium credit card that offers a wide range of features and benefits to cardholders.

One of the most significant features of the card is its airport lounge access, which includes more than 1,300 airport lounges worldwide, such as American Express Centurion Lounges, Delta Sky Clubs, and Priority Pass Select lounges.

Cardholders can enjoy complimentary access to these lounges, which often offer high-end amenities like showers, hot buffet meals, and premium Wi-Fi.

The card also comes with a Priority Pass Select membership, which provides access to nearly 1,500 worldwide lounge locations, with guest policies subject to each individual lounge.

Additionally, cardholders can enjoy exclusive reservations at high-end restaurants through the Amex Business Platinum Card's partnership with Resy.

The card also offers a range of travel benefits, including hotel and rental car elite status with Hilton and Marriott, as well as purchase protection up to $10,000 per occurrence and $50,000 per year.

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Cardholders can also enjoy a range of hotel benefits, including room upgrades, free breakfast, late checkout, and property credits, through the Amex Fine Hotels & Resorts program and The Hotel Collection.

Here are some of the key hotel benefits offered by the Amex Business Platinum Card:

Overall, the American Express Platinum Card offers a wide range of features and benefits that can enhance the travel experience and provide value to cardholders.

If you're a cardholder of the Amex Business Platinum Card, you'll be glad to know that it offers secondary rental car insurance. This means you'll have coverage for theft or damage, but not liability, as long as you pay for the rental in full and decline the rental company's collision damage waiver.

Some rentals, vehicle types, and countries are excluded from this coverage, so be sure to read the terms carefully to avoid any surprises.

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The Amex Platinum has no preset spending limit, which means you can spend up to a certain amount based on your purchase, payment, and credit history.

This is different from traditional credit cards, which give you a fixed credit limit, like $10,000.

You won't hit a hard cap on spending, but you still need to pay your full balance each month.

There is an option to enroll in Pay Over Time, which allows you to pay eligible purchases later, but you'll pay interest on the balance you carry.

Eligible charges can be included in a Pay Over Time balance, up to the Pay Over Time Limit.

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The American Express Platinum Card offers a wide range of benefits and perks that can make a significant impact on your travel experiences. Lounge access is a valuable perk, allowing you to visit over 1,300 airport lounges worldwide.

You can also earn up to $200 in airline incidental fee credits each calendar year on an airline you choose, which can be used towards expenses like checked bag fees, seat selection, and inflight food and drink.

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The card comes with baggage insurance, trip interruption and cancellation insurance, trip delay reimbursement, and secondary coverage for standard car rentals. You'll also have access to a network of travel counselors to help you plan out your trip and take care of any issues that may arise.

Here are some of the key benefits and perks of the American Express Platinum Card:

The American Express Platinum Card offers an impressive array of benefits, making it a valuable addition to any traveler's wallet. One of the most significant perks is lounge access, which grants you entry to over 1,300 airport lounges worldwide.

You can use the card's annual airline fee credit of up to $200 to cover expenses like checked bag fees, seat selection, pet fees, lounge day passes, and inflight food and drink. This credit can be a game-changer for frequent travelers.

The card also provides automatic Hilton Honors Gold and Marriott Bonvoy Gold Elite status, which can lead to perks like room upgrades and free breakfast. You can also enjoy complimentary access to over 1,400 lounges worldwide through The American Express Global Lounge Collection and its Priority Pass and Plaza Premium Lounge partners.

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One of the lesser-known benefits is the reimbursement for TSA PreCheck or Global Entry application fees. You can receive a statement credit of up to $120 for Global Entry fees every four years, or up to $85 every 4.5 years for a TSA PreCheck application fee.

The Amex Fine Hotels + Resorts program offers a range of benefits at luxury hotels, including room upgrades, daily breakfast, and a property credit worth at least $100 per stay. The Hotel Collection also offers perks like room upgrades and property credits, but with a minimum stay requirement of two nights.

Here are some of the key benefits of the American Express Platinum Card:

These benefits can add up to significant savings and convenience, making the American Express Platinum Card a worthwhile investment for frequent travelers.

The CLEAR credit is a great benefit of the Amex Platinum Card. You can get up to a $199 credit toward an annual CLEAR Plus membership, which can save you time waiting in line at select U.S. airports and stadiums.

This credit is a statement credit, so you'll get the $199 back on your card. CLEAR Plus provides an extremely efficient security experience through the use of your biometrics.

The CLEAR Plus credit can be a nice benefit, especially at airports where the TSA PreCheck lines are starting to get routinely long. However, it's only available at select locations, so it may not be useful if you don't travel through those airports.

To use the CLEAR Plus credit, simply pay for your CLEAR Plus membership with your Amex Platinum Card and get the $199 credited back to you.

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Trip delay insurance is a valuable benefit that can help you recover from unexpected travel setbacks. You can get reimbursed up to $500 for meals, lodging, toiletries, medication, and other personal items if you've paid for a covered trip with your Amex Business Platinum Card and it's delayed by six hours or more.

This insurance can be a lifesaver if you're stuck in an airport or hotel for an extended period. You can use the reimbursement to cover the costs of food, accommodations, and other essentials.

You can get reimbursed up to $500, and this benefit is available up to two times per consecutive 12-month period. This means you can rely on this insurance to help you recover from multiple trip delays within a year.

The reimbursement is available for a range of expenses, including meals, lodging, toiletries, medication, and other personal items. This can help you stay comfortable and hydrated while you wait for your trip to resume.

The Chase Sapphire Reserve is a premium travel card with a $550 annual fee, but it offers some amazing benefits that can make it worth the cost.

With a $300 annual travel credit, you can offset some of the expenses associated with traveling. This credit can be used towards travel purchases, such as flights, hotels, or car rentals.

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One of the greatest assets of the Chase Sapphire Reserve is its ability to earn more points than the Amex Platinum Card. You can earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠.

The Chase Sapphire Reserve also offers primary rental car insurance, which is a huge plus for travelers. This means that you'll be covered in case something happens to the rental car, and you won't have to worry about secondary coverage.

In addition to these benefits, the Chase Sapphire Reserve offers a $120 credit toward Global Entry or TSA PreCheck enrollment, making it easier to get through airport security.

You can also earn 3x points on other travel and dining, and 1 point per $1 spent on all other purchases. This means that you'll earn points on a wide range of purchases, not just travel and dining.

If you're planning to use the Lyft credits, the Chase Sapphire Reserve might be a better pick than the Amex Platinum. You'll get two free years of Lyft Pink membership, which can save you money on rides.

With its 1.5 cents per point redemption value, your rewards will be worth more than those from the Amex Platinum Card. This means that you'll get a better return on your points when you redeem them through Chase Travel℠.

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The Amex Platinum Card offers a generous earning rate on flights, with 5X Membership Rewards points per dollar spent on flights booked directly with airlines or through American Express Travel, up to $500,000 spent per year.

You can also earn 5X points on prepaid hotels booked through American Express Travel, but be aware that many hotels don't require payment until checkout, which can limit your flexibility.

For other travel purchases made through American Express Travel, you'll earn 2X points per dollar. For all other eligible spending, you'll earn just 1X point per dollar.

Here's a breakdown of the earning rates:

The Amex Business Platinum Card offers some amazing rewards, and one of the best is the Indeed credit. You can earn up to $360 per year in statement credits toward all Indeed hiring and recruiting products and services.

This is a huge perk for small businesses looking to save on hiring costs. If you're using Indeed to find new employees, this credit can really add up.

To get the credit, you'll need to enroll your card with Indeed. Once you're enrolled, you can earn up to $90 per quarter in statement credits, which works out to $360 per year.

This is just one of the many rewards and benefits offered by the Amex Business Platinum Card. With so many great perks, it's no wonder this card is a favorite among business owners.

Earning rewards with the Amex Platinum Card can be quite lucrative, especially when it comes to airfare purchases. You can earn 5X Membership Rewards points for flights booked directly with airlines or through American Express Travel, up to $500,000 spent per year.

This is a standout feature of the Amex Platinum Card, as many travel credit cards earn no more than 3X points on travel. You can also earn 5X Membership Rewards points on prepaid hotels and flight+hotel packages booked through American Express Travel.

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Prepaid hotels booked through Amex Travel can also earn you 5X points, which can be a great way to earn rewards if you're booking a hotel that requires payment upfront. However, many hotels don't require payment until checkout, which can limit your ability to earn rewards.

You can earn 1.5X points on eligible purchases of $5,000 or more, up to a total of $2 million in purchases combined each year. This can be a great way to earn rewards on large business purchases.

Here's a breakdown of the earning rates for the Amex Business Platinum Card:

The American Express Platinum Card has a hefty annual fee of $695, which can be a major deterrent for some people. This fee is the same for both the personal and business versions of the card.

The good news is that you won't pay foreign transaction fees with this card, which can be a significant savings if you travel or make international purchases. This is especially useful for frequent travelers or businesses with international clients.

Here are some key fees and charges to keep in mind:

If you're a frequent traveler, you'll appreciate the benefits of enrolling in Global Entry or TSA PreCheck. Up to $120 toward the Global Entry or TSA PreCheck application fee can be credited to your American Express card every four years.

Enrolling in Global Entry is the better strategy, as it also includes TSA PreCheck benefits. This means you can use faster airport security lanes, skip removing shoes and light coats, and keep your laptop in your bag.

The credit is a nice perk, especially considering the benefits of Global Entry. With it, you get to use a special lane when returning to the U.S. from overseas for faster immigration and customs clearance.

You can use this credit towards your Global Entry fees every four years, or four and a half years for a TSA PreCheck five-year membership.

The American Express Platinum Card has a hefty annual fee of $695, which can be a major drawback for some users.

The card's annual fee is not the only cost associated with it, as there are also ongoing APRs to consider. The APR for purchases and cash advances is 29.49%, variable.

If you're planning to use the card for international purchases, you'll be happy to know that there are no foreign transaction fees. This can save you a significant amount of money, especially if you frequently travel or make purchases abroad.

Here are some key rates and fees to keep in mind:

It's worth noting that the card's benefits and rewards can potentially offset the annual fee, but it's essential to carefully consider whether the costs outweigh the benefits for your specific situation.

The American Express Platinum Card is a premium card with an annual fee of $695, but it offers a range of benefits that can make it a great choice for frequent travelers.

One of the standout features of the card is its lounge access, which gets you into Centurion Lounges, often described as a traveler's Shangri-La. This can be a huge perk for those who visit multiple airport lounges in a year, like the author of one review.

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However, the card's many travel and retail credits can be tricky to use, and may require some effort to maximize their value. The credits can only be used with specific brands, so it's essential to have a clear plan for utilizing them.

The Amex Platinum holds its own against other premium travel credit cards, but it may not be the best choice for everyone. The American Express Gold Card, for example, has a lower annual fee of $325 and is geared more towards everyday spending.

Ultimately, the decision between the Amex Platinum and other cards depends on your individual needs and preferences.

We take a comprehensive approach to reviewing credit cards, considering both the quantitative and qualitative features of each card.

Quantitative features are what matter most to many cardholders, so we carefully evaluate fees, interest rates, rewards, and the cash value of benefits and perks.

We also examine the ease of application and the simplicity of the rewards structure, as these factors greatly impact how easy it is for a typical cardholder to get good value from the card.

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Our star ratings serve as a general gauge of how each card compares with others in its class, but they're just one consideration when choosing a credit card.

NerdWallet's ratings are meant to be a starting point, not the final word, and we encourage consumers to consider multiple factors when selecting a credit card.

The Amex Platinum is a fantastic travel rewards credit card, but it's not the only game in town. If you're not a frequent traveler or don't want to pay the $695 annual fee, there are other options that offer similar perks for a lower price.

The American Express Gold Card, for example, has a lower annual fee of $325 and offers more chances to earn points on everyday purchases. It's a great option if you're primarily interested in earning rewards on everyday spending.

The Business Platinum Card from American Express has a much longer benefits list, including complimentary hotel elite status and airport lounge access, but it comes with a higher annual fee of $695.

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If you're a business owner, you might also want to consider the American Express Business Gold Card, which has a lower annual fee of $375 and offers a welcome bonus of 100,000 Membership Rewards points.

The Ink Business Preferred Credit Card from Chase is another alternative that offers a significant amount of points on business purchases and a lower annual fee of $95.

Ultimately, the best card for you will depend on your personal travel preferences and spending habits. It's worth doing some research and comparing the benefits and fees of different cards to find the one that works best for you.

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The Amex Platinum is an expensive card, but it can be worth its annual fee of $695 if you can maximize the new credits added in 2021, which can be worth up to $900 per year.

To justify the fee, American Express added four new credits, which can add up to over $1,500 in value if you use them all.

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The card provides an excellent array of travel benefits and insurance protections that can save you significant money, such as cell phone protection, which can be worth far more than the annual fee.

Don't forget about the welcome offer, which can add to the card's overall value.

Even if you only get $400-$500 in annual value from the Amex Platinum's annual credits, the card could be worth it for the lounge access, travel insurance coverage, and other benefits.

Comparing the Amex Platinum to other premium travel credit cards can help you decide if it's the right choice for you, especially if you don't find the credits useful or think the annual fee is too steep.

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