There has been a significant change to the perks given on the American Express Platinum Card® in the last few years. As the worst of the epidemic has passed, credit card issuers are reevaluating their premium card offerings. The American Express Platinum Card® has long been one of the most prestigious and recognizable rewards cards. To cover the additional costs of the new services, American Express increased the annual charge from $550 to $695 per account holder.
While the $550 fee was already high, many are now wondering if the card is still worth it with a 25 percent increase. In addition, while the travel sector attempts to recover from the Covid-19 epidemic, some customers worry if an Amex Platinum travel credit card is suitable for them.
The American Express Platinum Card, with its prominent features and svelte design, is one to be proud of. The card is well worth considering its many travel perks, outstanding concierge service, and consumer safeguards if you can tolerate the high annual fee.
What does the American Express® Platinum Card provide?
For a long time, travelers have preferred American Express’ Platinum Card. The benefits vary from a $100 credit towards Global Entry or TSA PreCheck applications to immediate gold elite membership with the Marriott Bonvoy and Hilton Honors programs, among others. And now, the card is becoming even better, with new benefits worth an extra $1,400 a year. People anticipate additional advantages like cash back, travel rewards, sign-up bonuses, and more from rewards credit cards, which have been the norm in recent years. A higher degree of benefit comes at a cost with premium travel credit cards. Before applying for any card with an annual fee, do the math to see if the benefits outweigh the cost. Maintain in mind that even if a credit card appears to be worth the annual fee on paper, you should only keep it if you intend to use the perks it offers. All American Express offers are subject to the same conditions.
- Cardholders can save up to 40% on Wheels Up memberships and receive up to $2,000 in-flight credits for purchasing private jet charter flights during their first year of membership.
- At the top of its current premium Centurion Facilities, Amex will revamp and rebrand airport Escape Lounges as Centurion Studios. There will also be Centurion Lounges built at the former American Express International Lounge sites.
- After purchasing Resy’s restaurant bookings platform two years ago, Amex completely integrates Resy into a new project. Resy’s Global Dining Access program grants Platinum cardholders priority reservations at some of the world’s most exclusive restaurants, as well as admission to special events. Prime time tables at many of the most popular restaurants in the US and abroad are part of this access.
- $200 in Uber Cash throughout the course of the year, plus a year’s worth of Uber VIP service
- CLEAR® Credit of $179, allowing you to utilize touchless ID in airports and stadiums all over the United States.
- Low-Fare International Airline Program for up to eight tickets per booking on the finest international seats offered by international airlines.
- Through any Authorized Enrollment Provider, you’ll receive a free credit of $100 every four years for Global Entry or an $85, five-year Credit for TSA Pre.
- American Express Travel customers who book The Hotel Collection get rewards points for dining, spa treatments, and other experiences.
- Platinum travel service offers personalized itineraries, personalized tips, and more.
- $240 in digital entertainment credits when you pay for qualifying products at selected retailers
- If you pay certain monthly Equinox membership costs, you’ll receive a $300 credit toward your membership
- unique dinner reservations and dining experiences with Resy’s Global Dining Access
- Up to $100 in Saks Fifth Avenue statement credits every annum
- Platinum Card Concierge can assist you with reservations for meals, ticket purchases, and other special events.
- Invitation Only allows you to attend once-in-a-lifetime events such as sporting events, fashion shows, luxury dining, and more.
- Preferred seats at selected cultural and sports events.
- There is a 90-day money-back guarantee on qualifying goods.
So is it worthwhile to grab the American Express platinum card worth $695
To summarise, the new $695 price tag on the card is worth it if you plan to make use of all of the card’s benefits. Note: Existing cardholders will be charged a new fee for their yearly renewals starting on January 1, 2022. If you’re a frequent flyer, who doesn’t intend on booking a private aircraft or at the very least a business-class ticket anytime soon? Take a look at some of the other top-rated travel cards before you decide. As you can see, the card is most useful for frequent travelers. Depending on your travel plans and how you plan to use the card, you may be able to recoup your annual fee and then some. You can earn up to $2,439 in the first year by using only the perks with a fixed yearly value plus the welcome bonus. After that, you’ll be able to earn up to $1,439 in value each year. You can receive even more value if you connect it with your rewards when you purchase things.