With The Platinum Card® from American Express, you have the opportunity to earn a welcome bonus of 60,000 Membership Rewards points after making $5,000 in purchases in your first three months.
Now, if you travel frequently regardless if it’s for leisure or business, you will earn 5X Membership Rewards points back on flights booked directly with airlines or with American Express Travel AND on eligible hotels booked on amextravel.com.
The benefits do not stop there. As a cardholder, enjoy $15 in Uber credits for U.S. rides each month (plus a bonus $20 in December). That’s worth up to $200 in Uber credits! In addition, you will receive a $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline. If this card appeals to you, read on to find out more below!
Table of Contents
- 1 Amex Platinum Card Summary
- 2 Amex Platinum – 60,000 Membership RP
- 3 Earning Membership Rewards Points
- 4 Redeeming Membership Rewards Points
- 5 Amex Platinum Cardholder Benefits
- 6 Author’s Verdict
- 7 Alternative Credit Cards Options
Amex Platinum Card Summary
The The Platinum Card® from American Express offers 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
This card comes with an annual fee of $550, but you cardholders can enjoy Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Furthermore, you'll receive $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline. Plus, up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card® & receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts.
In addition, you can earn 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel & on prepaid hotels booked on amextravel.com.
Amex Platinum – 60,000 Membership RP
After spending $5,000 in the first 3 months of opening your account, you can earn 60,000 Membership Rewards Points (RP). There are many ways to go about this. Down below are several options to acquiring these points.
• Plastiq - Using Plastiq allows you to pay for your personal expenses such as rent, tuition, mortgage, auto lease etc. Although they charge a 2.5% processing fee for using your credit card, this will contribute to the card bonus that you will receive. There is also a referral program that allows you to earn "Free-Free Dollars" that goes towards processing fees as well.
• Funding Checking Accounts - When it comes to funding a checking account, opening your initial deposit with a credit card is the usual way to go about it. However, if you want to have more opportunities, you should open a checking account that offers a sign-up bonus. This allows you to work towards bonuses from not one but two different sources instead. Banks like Chase, Huntington Bank, TD Bank and BBVA offers credit card funding, and for your opening deposit, you can often fund anywhere from $50-$1000 with a credit card, depending on what bank offers it.
• Gift Card Purchases With Using a Credit Card - Another way to acquire the bonus is using your credit card to purchase gift cards. Buying a a gift card or an individual merchant card typically do not require a purchase fee and are used towards leisure, so gift cards are ideal. However, gift cards such as a Visa or American Express do incur purchase fees because they can be spent anywhere, but gift cards that are specifically for a certain online shopping site such as Amazon or eBay don't.
As for a Citi Credit Card, you should call customer service and ask them to lower your Cash Advance limit to $0 before making any purchases because Citi tends to read gift card purchases as a Cash Advance.
Ideally, you should do this with any card just to be safe. Lastly, there is such thing as a discounted gift card which can be purchased on Raise or eBay. If you use a credit card often for everyday purchases, it can build your credit score that will contribute towards paying for things such as bills and taxes.
Earning Membership Rewards Points
With the Amex Platinum Card, you earn 5 points per $1 spent on all airfare purchased directly with airlines. This is one of the major benefits of the card, offering one of the best airfare bonuses out there. It’s a great way to earn lots of Membership Rewards points, thus if you book a lot of airline tickets, this is one of the best reasons to consider this card.
It also offers 5 points per $1 spent on hotel bookings, but you’ll need to make them through the Amex Travel portal. They must be prepaid bookings which usually cannot be canceled. If your travel plans change often, this probably isn’t as great as a benefit as the 5x points on airfare.
Redeeming Membership Rewards Points
Membership Rewards points are very flexible to redeem. You can redeem them for gift cards, shopping, travel, entertainment, merchandise or charity. Below is a chart that list the different redemption methods and how much they are worth.
|REDEMPTION METHOD||VALUE PER POINT|
|Gift Cards||1 cent|
|Paying off a charge||.6 cents|
|Shopping on Amazon||.7 cents|
|Booking Flights with Points||1 cent|
|Booking Hotels with Points||.75 cents|
|Transfer Points||1.2 cents+|
With Amex’s many airline and hotel transfer partners–which includes major airline alliances SkyTeam, Star Alliance, and Oneworld–transferring your points to an airline partner is the best way to maximize the value of your points. Your points will generally transfer at a 1:1 ratio with the exception of a few partner programs, such as Aeromexico, JetBlue, and Hilton Honors.
You can get up to 2 cents per point when you use Amex’s travel partners. Below is a chart of Membership Rewards partners with American Express.
Membership Rewards Airline Partners
|Aer Lingus||AeroMexico||Air Canada|
|Air France/KLM||Alitalia||All Nippon Airways|
|Avianca||British Airways||Cathay Pacific|
|Delta Air Lines||El Al Israel Airlines||Emirates|
|Etihad Airways||Hawaiian Airlines||Iberia|
|JetBlue Airways||Qantas||Singapore Airlines|
Membership Rewards Hotel Partners
|Choice Privileges||Hilton Honors||Marriott Bonvoy|
Amex Platinum Cardholder Benefits
Amex Platinum cardholders receive access to travel and consumer benefits. These include purchase protection, rental car insurance, travel insurance, emergency roadside dispatch, global assist hotline, extended warranty coverage, and more. Here are some other notable benefits this card has to offer:
Global Entry / TSA PreCheck Fee Credit: Earn $100 fee credit for Global Entry or an $85 fee credit for TSA PreCheck every 4 years. This is a great perk for those who want to go through the airport screening process quickly.
$200 Airline Fee Credit: This fee credit applies on incidental fees charged by the airline you select. You can earn up to $200 in statement credits per calendar year. So, feel free to check your bags or enjoy an in-flight meal with your Amex Platinum Card.
$15 Monthly Uber Ride Credits: Enjoy $15 in Uber credits for U.S. rides each month, plus a bonus $20 in December. This is worth up to $200 in annual Uber savings.
Complementary Marriott Gold Status: With this card, earn complimentary Gold status at Hilton and Gold Elite status in the combined Marriott/SPG program. Gold status gives you some great hotel perks, including free in-room internet, complimentary room upgrades, lounge access and more.
No Foreign Transaction Fees: Enjoy using your Amex Platinum Card outside of the U.S. without worrying about a foreign transaction fee.
Complementary Amex Lounge Access: Now there’s a reason to enjoy being early at the airport. Amex Platinum Cardholders will receive access to the American Express Global Lounge Collection, which includes Centurion Lounges, Priority Pass lounges and Delta Sky Clubs when flying Delta. That gives you access to more than 1,200 airport lounges across 130 countries and counting.
Fine Hotels & Resorts Benefits: Enjoy a plethora of convenient benefits with nearly 1,000 Fine Hotels & Resorts. These are high-end hotel and resort properties worldwide. Benefits include, 12pm check-in when available, a room upgrade upon arrival when available, daily breakfast for two people, complimentary WiFi, guaranteed 4pm late checkout, and an additional special amenity unique to each property, such as a $100 food and beverage credit or a one-way private sedan transfer.
Ideally, The Platinum Card® from American Express is for those who travel frequently and are always on the go all the time. With this card, you’ll be able to make the most of your travel experiences, especially with the new additional benefits for a $550 annual fee! If you take advantage of all the benefits this card has to offer, you’ll be able to offset the annual fee.
Keep in mind that this is a charge card, meaning you’ll have to pay the amount you rack up on this card fully each month. However, if you aren’t interested in all these luxurious perks, then this card might not appeal to you.
Provide feedback in the comment section below by telling us your thoughts and experience with this card. For more cards from Amex, see our list of the best American Express credit card promotions or an extensive list of the latest credit card promotions.
Learn more about this card and its features here.
Alternative Credit Cards Options
If you don’t particularly travel often, then here is an alternative card like the Chase Sapphire Reserve that offers various other rewards such as cash back that might interest you more.
The Chase Sapphire Reserve® offers 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®.
You'll earn 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants & 1 point per $1 spent on all other purchases. When redeeming your points for travel through Chase Ultimate Rewards, you'll get 50% more value.
This card does carry a $550 annual fee and there are no foreign transaction fees. However, you're able to earn a $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year & up to $100 application fee credit for Global Entry or TSA Pre✓®.
• Chase Bank Bonuses. Chase usually offers the most sign-up bonuses out of all the big banks. Read up and enjoy several promotions for their Checking, Savings and Business accounts.
• HSBC Bank Bonuses. HSBC has some big value offers available for their Checking accounts. Some require hefty deposits to qualify. They also have an online Savings account offering a very competitive rate.
• Huntington Bank Bonuses. Huntington has Consumer Checking and Business Checking accounts available throughout the year.
• Discover Bank Bonuses. As an online bank, Discover offers high and competitive rates on their Savings, CD, and Money Market accounts. Enjoy excellent customer service nationwide.
• TD Bank Bonuses. TD Bank consistently offers great Checking account bonuses all year long. Savings account offers are less frequently available.
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|HSBC Premier Checking Member FDIC||Up To $700||Review|
|HSBC Advance Checking Member FDIC||$225 Cash||Review|
|HSBC Advance Checking Member FDIC||Up To $270||Review|
|Chase Premier Plus CheckingSM||$300 Cash||Review|
|Chase Total Checking®||$200 Cash||Review|
|Huntington 25 Checking||$500 Cash||Review|
|Huntington 5 Checking||$200 Cash||Review|
|Huntington Asterisk-Free Checking®||$150 Cash||Review|
|Huntington Bank Unlimited Plus Business Checking||$750 Cash||Review|
|Huntington Bank Unlimited Business Checking||$400 Cash||Review|
|Huntington Bank Business Checking 100||$200 Cash||Review|
|TD Bank Beyond CheckingSM||$300 Cash||Review|
|TD Bank Convenience CheckingSM||$150 Cash||Review|