Is the AMEX Platinum Card Worth the Annual Fee?
- joselagran
- Feb 11, 2024
- 2 min read
Updated: Mar 2, 2024
The value of the American Express Platinum Card and whether it's worth the annual fee depends on your individual spending habits, travel preferences, and lifestyle. Here are some key features and benefits of the AMEX Platinum Card to consider:
Travel Benefits:
Airport Lounge Access: The Platinum Card offers access to various airport lounges, including Centurion Lounges, Priority Pass lounges, and others.
Fine Hotels & Resorts: Cardholders may receive benefits like room upgrades, late checkout, and other perks at select hotels
Membership Rewards Points:
The card earns Membership Rewards points, which can be valuable for travel redemptions, transfers to airline partners, or other rewards.
Statement Credits:
The card often provides statement credits for travel-related expenses, such as airline fees, Uber rides, and Global Entry/TSA PreCheck.
Travel Insurance and Protections:
The Platinum Card includes various travel insurance coverages, such as trip cancellation and interruption insurance, car rental loss and damage insurance, and more.
Concierge Service:
Cardholders have access to a concierge service that can assist with travel bookings, restaurant reservations, and more.
Shopping and Entertainment Benefits:
The card may offer perks like access to exclusive events, purchase protection, and extended warranty on eligible purchases.
However, it's important to weigh these benefits against the annual fee, which tends to be relatively high. If you don't travel frequently, don't take advantage of the premium travel perks, or if the annual fee doesn't align with your spending habits, the card may not be worth it for you.
Before deciding, consider your spending patterns, lifestyle, and whether the benefits provided by the card align with your preferences. Additionally, compare the Platinum Card with other credit cards to determine which one offers the best overall value for your needs. Keep in mind that credit card offerings and benefits can change, so it's a good idea to check the latest terms and conditions before making a decision.