Barclay Arrival Mastercard - 7,000. Amex Platinum Quick Facts. Getting the yearly fee for Amex Platinum to be waived The annual charge for all American Express cards is eliminated for active-duty military personnel, according to a spokesman of the credit card company. This assumes you earn the full welcome bonus plus an additional 6,000 in points when you charge $6,000 in order to hit the spend requirement, assuming an earning rate of 1 point per dollar), As you spend on the card, you will earn the following: We'd love to hear from you, please enter your comments. Earn 120,000 Membership Rewards points after you spend $15,000 on eligible purchases within the first 3 months of card membership. Eligibility and Benefit level varies by Card. In addition, unlike the Priory Pass privileges on other cards, it does not include credits at airport restaurants. Yes, there are some no annual fee credit cards designed for people in this situation. Although the card underwent a major revamp last year and added several new features, some consumers are wondering whether a travel card like the Amex Platinum is right for them, especially during a time of inflation. Youll need to enroll your Amex Platinum Card for this benefit to take effect, but theres no minimum purchase required. Now, the card has more statement credits than ever before, with opportunities to earn credits for purchases like airline incidental fees, hotel reservations and even subscriptions to digital entertainment services. We valued Amex points at 2 cents apiece, which is possible if you're transferring them to airline partners. Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. 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. Nordstrom - 15,000. Forbes Advisor created additional star ratings so that you can see the best card for specific needs. Gold status includes: daily food/beverage credit, upgrades when available, fifth night free when using points and free Wi-Fi. 1 For more on Rates and Fees for The Platinum Card, click here. The card has a $95 annual fee. The venerable Platinum Card has a $695 annual fee. It currently has a 60,000-point welcome bonus which you'll earn after spending $4,000 in the first three months of card membership. Blue Cash Everyday Card Cash Back Starts Here. For new card members (as of July. 2022 SELECT | All rights reserved. Cardholders will also get more lifestyle and experience-based perks, including 40% off a membership for the Premium Private Jet Program with Wheels Up, as well as up to $2,000 in initial year flight credits to book private charter flights; and access to the Global Dining Access program by Resy, where cardholders can get exclusive tables at some of the worlds top restaurants. You want features available on cards that charge a fee, such as an introductory bonus or the ability to transfer points. Among this card's newer perks is up to $155 in annual statement credits toward the cost of a monthly Walmart+ membership. In subsequent years, youll see the annual fee in the anniversary month of your account. I got lucky and found $1k in cash in his sock drawer. Card Members can apply for TSA Pre through any Authorized Enrollment Provider. Then you can determine whether the annual fee is worth it for you based on your spending and travel habits. Terms, Conditions and Limitations Apply. It has a $95 annual fee and comes with perks like a complimentary DoorDash DashPass membership through 12/31/24. American Express Platinum Card vs. Chase Sapphire Reserve: Which is the better luxury card? For many, the customer support they receive as a Platinum card member makes the annual fee worthwhile. Related: How the Amex Platinum card easily saved me $200 on a one-night hotel stay. The primary Card Member is responsible for all spending activity and must pay for all charges made by Additional Card Members. Amex Platinum annual fee increase from $550 to $695. The representative can sometimes find a supervisor willing to approve the request. $1,600 (Points are valued at 2 cents per point. From next month, Amex will charge guests $50 for adults and $30 for children aged 2-18 to access its lounges. Amex Platinum cardholders can add up to three authorized users to their account for a total of $175 per year. Allan Halcrowis a freelance writer concentrating in business, human resources, and diversity and inclusion. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card. A credit card annual fee is what you pay for certain cards usually to enjoy special features and perks. Learn more. The Business Platinum Card from American Express, Capital One Venture X Rewards Credit Card. Almost S$2,000 for a credit card may seem expensive, but looking at the price tag alone does not tell you the value of an item. Once you've selected your airline, you can simply charge these expenses to your Amex Platinum card and you'll automatically be reimbursed in the form of a statement credit within 4 weeks of the charge posting to your account. Terms apply to American Express benefits and offers. If youve decided that the card is worth its annual fee, heres the official application link: The Platinum Card from American Express with 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership. Those users are eligible for some of the same benefits as the main account holder, including lounge access, Global Entry/TSA PreCheck reimbursement, hotel elite status and Amex Fine Hotels + Resorts benefits (not to mention Amex sometimes offers cardholders bonus points for adding authorized users). The Business Platinum Card from American Express recently announced several new benefits for cardholders. For new applicants, you'll be required to pay this new fee immediately, but existing cardholders won't have to fork over the extra cash until renewals begin in January 2022. Although many people avoid cards that charge an annual fee, cards with fees may be a savvy choice if you can make use of their benefits. Cardholders can take advantage of numerous annualstatement credits, entertainment benefits, extensive airport lounge access, elite status perks and much more. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases. Starting in 2023, statement credits for the $300 Equinox Credit benefit will be provided on an annual basis of up to $300 per year and will no longer be provided on a monthly basis of up to $25 back per month. A recent national survey conducted on behalf of Experian found that 33% of Americans with credit cards are concerned by annual fees. The Platinum Card from American Express, 17 airline and three hotel transfer partners, $200 annual airline fee statement credits, Global Entry or an $85 fee credit for TSA PreCheck, American Express Global Lounge Collection, Gold Elite status in the Marriott Bonvoy program, purchase airline gift cards to use toward tickets, How to make sure youre getting your Amex Platinum Uber credits, enroll your Amex Platinum Card for this benefit to take effect, Your guide to the Amex Platinum Saks Fifth Avenue credit, Key things to know before getting Global Entry, How the Amex Platinum card easily saved me $200 on a one-night hotel stay. Megan Doyleis a business technology writer and researcher whose work focuses on financial services and cross-cultural diversity and inclusion. The Black Card offers 1.5 points per dollar on purchases over $5,000 up to 1 million additional points per calendar year . By providing my email I agree to receive Forbes Advisor promotions, offers and additional Forbes Marketplace services. Here are the best travel credit card welcome bonuses so you can save up to $750, The best luxury and premium credit cards if you want the best perks, Why the Fed raising rates could make your savings account more valuable and debt more expensive, How to get Super Bowl LVII tickets and VIP packages with points from multiple rewards programs, Last chance to get presale tickets to Taylor Swift's 'Eras Tour' through Capital One. However, this depends on you leveraging each credit to its maximum. You will receive up to $189 per year in statement credit to apply for CLEAR, a biometric security program located at airports and stadiums across the U.S. We only value this at $100 because members of select airline loyalty programs can apply for CLEAR at a discounted rate. Cardmembers receive up to $200 in statement credits each calendar year when booking a prepaid stay via Amex Fine Hotels + Resorts or The Hotel Collection on Amex Travel. 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. This can add up to big savings. If you took a critical look at your spending habits and decided this card just isnt worth it for you, there are plenty of other travel credit cards on the market at lower annual fees. Depending on how airlines code certain purchases, however, it is also sometimes possible to purchase airline gift cards to use toward tickets and be reimbursed via the credit (note that this can change unexpectedly). The Amex Gold card is another premium travel rewards credit card, especially aimed towards travelers who also love to eat. A: There are a few ways to avoid paying the Amex Platinum annual fee: 1. Here are some common situations in which paying an annual fee may make sense: In some cases, accepting an annual fee may be your only way to get a credit card. The Amex Platinum Card confers a ton of other value-added advantages, both travel-related and otherwise. Each year you can get one $50 statement credit for Saks purchases between Jan. 1 and June 30 and another $50 statement credit for purchases between July 1 and Dec. 31. The Platinum Card from American Express has a $550 annual fee, but for many travelers the card's benefits will more than offset the annual fee. The Platinum card also has trip cancellation, interruption and delay insurance. 10X miles on hotels and rental cars, 5X miles on flights when booked via Capital One Travel; unlimited 2X miles on all other eligible purchases, Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening. Step 3. If you actually plan to use them, that is. At one end of the spectrum are cards branded for airlines or hotel chains these cards often charge annual fees of $95 and up. Credit Score ranges are based on FICO credit scoring. It also earns 3 points per dollar on dining, 5 points per dollar on travel purchased through Chase Ultimate Rewards and 2 points on all other travel. Make sure to activate this credit first under the Benefits section of your Amex Platinum account, which will then send you to the Clear website to sign up for the membership. American Express Platinum card Fees Annual Fee: $695 Cash Advance Fee: 5% (min $10) Foreign Fee: 0% Max Late Fee: $40 Major Amex Platinum changes Annual fee As of July 1, 2021, all new Platinum Card members will be charged the increased $695 annual fee. The statement credits described in the previous section can easily help bring your effective annual fee down from the published $695 per year to $0 per year. Plus, earns 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. Some offers are no longer available. But aside from the benefits, be sure to evaluate your own spending prior to applying. The new benefits go into effect on July 1, 2021 for both existing and new card members. ShopRunner membership includes free two-day shipping and free return shipping on eligible items at participating online stores. Today well consider The Platinum Card from American Express, which has a $695 annual fee (see rates and fees). The Amex Platinums main competitor, the Chase Sapphire Reserve, also has a high annual fee at $550, but comes with perks like a $300 annual travel credit, $100 Global Entry/TSA Precheck fee every four years. If you have questions, please consult your own professional legal, tax and financial advisors. How do I find and add Amex Offers to my Card? Eligibility and Benefit level varies by Card. Enrollment required. Complimentary memberships in Hertz Gold Plus Rewards, Avis Preferred and National Car Rental Emerald Club Executive. Additional Card Members must be 13 years of age or older.8. See what a point or mile is worth with our appraisals of a loyalty programs currency, based on redemption values. The Platinum Card from American Express still remains an excellent card for luxury travelers. 20.24% - 27.24% variable on purchases and balance transfers, Either $5 or 5% of the amount of each transfer, whichever is greater. All of this is on top of the many perks Platinum has been known for, including 5X Membership Rewards points on flights and prepaid hotels and several benefits and credits, including: Platinum goes the extra mile to replace lifes hassles with everyday adventure through perks and services like access to the Global Lounge Collection, including the recently expanded Centurion Network of Lounges and Studios, so you can travel in comfort. At the same time, the Platinum Card can help you get access to over $1,500 value in benefits. 3 weeks ago Seth. However, note that these figures are based on earning status the regular way through nights and stays and leveraging those benefits on those nights and stays. Others may not be able to easily access these benefits based on location or travel habits. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card.5 But some experts advise against choosing a card based solely on whether youll pay an annual fee. Must book with American Express Travel and pay with the Amex Platinum. You could also argue the Global Entry or TSA PreCheck application fee credit is a moot point since many other (less expensive) travel credit cards already offer this benefit. An even lower fee option includes the Chase Sapphire Preferred Card. 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. Earn 5X Membership Rewards points on flights and prepaid hotels on amextravel.com and 1X points for each dollar you spend on eligible purchases. Someone who wont use the majority of these statement credits should probably skip this card. Whether you're a current Amex Platinum cardholder or are considering applying for it, it is advantageous to consider all options available. Earn 5X Membership Rewards Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, 5X Membership Rewards Points on prepaid hotels booked with American Express Travel, 1X points on all other eligible purchases. Whats more, Platinum also helps get you exclusive access to sought-after restaurants around the globe thanks to Global Dining Access by Resy, your personal digital dining concierge. However, it still does not include baggage delay reimbursement. As always, Platinum goes above and beyond credits to provide premium services and benefits like Cell Phone Protection,2 airport lounge access, and special access to popular restaurants through Global Dining Access by Resy. The Platinum Card has the best lounge access benefits of almost any rewards card out there thanks to The American Express Global Lounge Collection. Clear expedited airport security program: Is it worth it? To view rates and fees for The Platinum Card from American Express please visit this page. Take control of your financial future with information and inspiration on starting a business or side hustle, earning passive income, and investing for independence. 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. 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). Hot Tip: You receive the airline incidental once per calendar year. If the annual fee is too expensive, don't fret there are several other credit cards you can consider without a steep annual fee. That's $750 when you redeem through Chase Ultimate Rewards. Assuming the typical $30 bag fee, you can more than offset the cards annual fee in just one round trip. Earn 5X Membership Rewards Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards Points on prepaid hotels booked with American Express Travel. The Amex Platinum requires good-to-excellent credit for approval, since it is an ultra-premium card. 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