American Express Platinum: Why It’s Worth the Fee
It’s easy to make the mistake of thinking that the American Express Platinum is overhyped and overpriced. But don’t let the $450 annual fee deter you: you’ll get far more than that in lounge access, airline fee credits and other juicy perks. When it comes to combining luxury and practicality, no one does it like the Amex Platinum.
|The Platinum Card® from American Express|
on American Express's
|Annual Fee||Signup Bonus||APR , Variable*||APR Promotions|
|$450||Earn 40,000 points after you spend $3,000 on purchases on your new Card in your first 3 months.||N/A||N/A [You must pay your balance in full each month]|
Fringe benefits, front and center
The Platinum Card® from American Express has a number of auxiliary perks that aren’t exclusively the domain of the ultra-rich, but are also huge improvements for any international travelers. And many of these new benefits are actually quantifiable, so the numbers hold out: the $450 annual fee is an investment that’ll pay for itself and then some.
- Complimentary Priority Pass Select membership – Cardholders have access to more than 600 airport lounges worldwide with the Priority Pass program, as well as Centurion and select Delta and Airspace lounges. It one-upped the PenFed Platinum Travel Rewards, which only offers 2 free passes a year. By contrast, AmEx offers Select access, which means cardholders get complimentary access to lounges all over the world (and $27 for guests). This sort of access normally costs around $400, and is definitely worth it to anyone who often flies overseas.
- No more foreign transaction fees – American Express credit cards typically charge 2.7% of every purchase cardholders make overseas, which can mean hundreds of dollars to anyone spending big bucks on hotel rooms, food, rental cards and such while traveling. But this fee has now been dropped, putting the Platinum card amongst the ranks of the few credit cards with no foreign transaction fees.
- $100 credit towards the Global Entry program – Global Entry is a government program allowing certain individuals “expedited clearance” upon re-entry into the U.S. Amex can’t guarantee that cardholders will be approved (an extensive application and background check process are necessary to prove you aren’t a risk), but they will rebate the $100 application fee.
- Up to $200 credit toward expenses on your favorite airline – Just register your preferred airline with Amex, and they’ll refund up to $200 per year of incidentals like baggage fees, change fees, or in-flight meals.