Apply and select your preferred metal Card design: classic Platinum Card, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Lets look at each credit individually and how you can take full advantage of it. The value of this benefit depends on how frequently youd use the Platinum Card to book eligible airfare and prepaid hotels. Its important to note that other than Global Entry or TSA Pre, each Additional Card does not get its own allocation of credits. $155 Walmart+ Credit: 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. Youll also receive a complimentary Priority Pass Select lounge membership, which gives you access to over 1,300 airport lounges around the world. 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. Editorial Note: We earn a commission from partner links on Forbes Advisor. The card, previously clocking in at a $550 annual fee, will be hiking its price to almost $700. The Platinum Card also gets cardholders into Delta Sky Clubs on same-day flights operated by Delta and its partner airlines. Some offers are no longer available. To get an Amex annual fee refund after closing an account, call customer service at (800) 528-4800 within 30 days to request a refund check. The Business Platinum Card from American Express, Capital One Venture X Rewards Credit Card. On cards that offer better-than-average rewards and therefore cost credit card companies more to provide. This guide considers all the advantages, earning potential and money-saving features of the card so you can decide for yourself whether it is worth the annual fee. See. Note that if youre booking through The Hotel Collection, theres a minimum stay requirement of two nights. Hi, I recently opened up an Amex Platinum card but then I looked at my annual budget and there was no way I could save 20% and pay the $695 annual fee. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. New cardmembers will see the annual fee on their first billing statement. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. Up to $300 statement credit when purchasing one SoulCycle at-home bike on up to 15 bikes per calendar year. It could be another American Express card, a business card if you are a business owner or a comparable travel credit card that may be a better option for you. Plus, you'll receive an automatic 10,000 mile bonus every year you keep your card open. Welcome offer: Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new card in your first six months of card membership. It also comes with up to $50 in annual Ultimate Rewards Hotel Credit. These are provided as guidelines only and approval is not guaranteed. it boasts very high fees: a $5,000 annual fee and a $10,000 initiation fee. Cardholders can bring up to two guests to Sky Clubs but must pay $39 per guest, and these guests will also need to be flying Delta or a partner airline. Although many of these premium cards charge high annual fees, the benefits, statement credits and earning potential they provide can make paying for them worthwhile. Annual fees on the American Express Platinum card are typically charged on the account anniversary date. Get Forbes Advisors ratings of the best travel credit cards and helpful information on how to utilize travel rewards and benefits to get the best deals for your next adventure. But if you can strategically plan purchases you were already going to make that align with the benefits of the card, it is still worth it. 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. Yes, however, this welcome offer is reduced. Take control of your financial future with information and inspiration on starting a business or side hustle, earning passive income, and investing for independence. Offers may be subject to change without notice. Do I pay upfront if I get approved or torward the end of the fiscal year. However, a $695 annual fee is an eye-popping figure for many that can lead some to question the value. Barclay Arrival Mastercard - 7,000. Related: Clear expedited airport security program: Is it worth it? Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners. Those points are worth up to $750 for travel when booking through Chase and the card carries an annual fee of only $95. Amex Platinum cardholders can add up to three authorized users to their account for a total of $175 per year. If you add up all of the existing and new credits, youre looking at over $1,400 in value in your first year alone. DEXSTA's VISA Platinum is just that type of card. Required fields are marked *. 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. Terms, Conditions and Limitations Apply. Editors note: This is a recurring post, regularly updated with new information. Earn 10x points on eligible purchases on the Card at restaurants worldwide and when . The Amex Platinum Card offers eight main statement credits that can reduce the effective cost of the annual fee. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. One TPG writer received 30,000 bonus points in 2021 just for keeping his card open another year. To decide whether its worthwhile opening the card and keeping it, you will need to look at its ongoing qualities and how much value youre likely to reap from them. 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. Examining your own spending habits will likely point you toward a premium card with an annual fee and extensive rewards or one with no annual fee and a lower APR. That said, maximizing each and every one of them requires an "extreme couponing" mindset that many cardmembers might not be able to muster. You must check the box to agree to the terms and conditions. Uber VIP status and up to $200 Uber credit, split into monthly $15 credits for U.S. rides plus a bonus of $20 in December. See rates & fees) has long been one of the most popular travel rewards cards available thanks to the usefulness of the Membership Rewards points it earns as well as an array of valuable perks. Please view our advertising policy page for more information. A: No, American Express does not charge an annual fee immediately. In many cases, cards with an annual fee may be a better value. See what a point or mile is worth with our appraisals of a loyalty programs currency, based on redemption values. The card has a $95 annual fee. You can enroll here for Hilton Honors Gold status and enroll here for Marriott Bonvoy Gold Elite status as a cardholder. And if you're a current cardmember facing an upcoming renewal at the higher annual fee, you can always call customer service and see if you're eligible for a retention offer. Annual fees are typically charged after the first year of membership. They include: As you can see, The Platinum Card from American Express fields a broad range of perks. However, many of the above values are estimates. You can downgrade your card to a different American Express card that doesnt have an annual fee. This compensation comes from two main sources. He is also the author of four books on management. American Express Platinum Card vs. Chase Sapphire Reserve: Which is the better luxury card? Please visit americanexpress.com/benefitsguide for more details. Eligibility and Benefit level varies by Card. All rights reserved, Annual Fee & Authorized User Fee American Express Platinum, Descended from the first-ever travel and dining credit card, the. I was told by CS that the Amex Ascend fee does not get included in the one annual fee policy - asked them to check multiple times and just stopped short of saying . Macys American Express - 6400, 19,000. Learn all about finances in next to no time. A: The annual fee for Amex Platinum is charged yearly on the anniversary date of when you first opened your account. 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. At NextAdvisor were firm believers in transparency and editorial independence. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. Theme: News Way by Themeansar. 2023 American Express. You will receive $50 semiannually to use at either Saks Fifth Avenue or saks.com. How do I Redeem Membership Rewards Points. It is offering a welcome offer of 60,000 points when you spend $4,000 on eligible purchases within six months of card membership, and earns 4 points per dollar on dining and at U.S. supermarkets (up to $25,000 per calendar year, then 1 point per dollar), as well as 3 points per dollar on airfare booked directly with airlines or through Amex Travel and 1 point on everything else. Annual fees are typically charged after the first year of membership. Here's what you need to know to decide whether this card is worth it to you.. When the annual fee comes due again, youll be able to make a more educated decision on whether you want to keep it and enjoy the benefits for another year. Breeze through security with CLEAR lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card. Bread Cashback American Express Credit Card Review: Good for Flat 2% Cash Back, Light on Benefits, How to Decide Between the Amex and Chase Trifectas, or Create Your Own Card Combination to Maximize Rewards, The Amex Trifecta: Maximize This Card Trio for Travel Upgrades and Savings, American Express Blue Cash Preferred vs. Wells Fargo Active Cash: Two Great Cash Back Cards for Everyday Purchases, Chase Freedom Unlimited vs. American Express Blue Cash Preferred: Two Top Cash Back Cards, Marriott Bonvoy Brilliant American Express Credit Card Review: Premium Benefits for Frequent Marriott Travelers, Amazon Business Prime American Express Card Review: 5% Amazon Savings or 90-Day Interest Free Period on Purchases, Delta SkyMiles Blue American Express Card: No Fee Option for Delta Travelers with Few Benefits, Delta SkyMiles Reserve American Express Card: Lounge Access and Premium Perks for Frequent Delta Flyers, Amex EveryDay Preferred Credit Card: Great Rewards Boost for Frequent Spending, Samantha Rosen is a former editor at NextAdvisor. With perks like $120 in annual dining statement credits ($10 monthly statement credit) and up to $120 in Uber Cash ($10 Uber Cash each month) . Many of the benefits, like the entertainment and Equinox credits, are essentially forcing some customers to spend more money than they normally would defeating the purpose of the card saving you money. 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. Platinum cardholders and up to two guests are also granted entry into Amexs Centurion Lounges, including lounges in multiple U.S. cities as well as ones at airports in Hong Kong (HKG) and London (LHR). Remember: While Additional Card Members are not account owners, they are authorized to use the primary Card Members account. Amex Platinum Quick Facts. Clear lets you use biometric kiosks for identification purposes so you can skip the TSA agent shuffling through other travelers' identification and head straight to the baggage security line. The Capital One Venture card is a flexible travel rewards credit card that earns 2 Capital One Venture miles per dollar on all purchases. For example, if you spend $500 each year on eligible Amex Fine Hotels & Resorts stays, youll earn 2,500 points on these stays, which are worth about $50 given our current valuations. Different American Express Platinum Card vs. Chase Sapphire Reserve: which is the better luxury?! Is offered through American Express does not charge an annual fee immediately that can reduce the cost! Requirement of two nights the first year of membership will receive $ 50 in annual Ultimate Hotel... Marriott Bonvoy Gold Elite status as a cardholder the terms and conditions of a loyalty programs currency, on... In annual Ultimate Rewards Hotel credit approved, or Platinum x Kehinde Wiley, or by! On management charge an annual fee Reserve: which is the better luxury Card post, regularly updated with information! A minimum stay requirement of two nights an annual fee date of when you first opened account... Its important to note that if youre booking through the Hotel Collection theres! Fields a broad range of perks luxury Card your preferred metal Card when does amex platinum charge annual fee: classic Platinum from..., previously clocking in at a $ 695 annual fee for Amex Platinum cardholders can add up $. He is also the author of four books on management will be hiking its to. Owners, they are authorized to use the primary Card Members account luxury Card Julie Mehretu x27 ; s Platinum. Platinum cardholders can add up to three authorized users to their account for a of. Can see, the when does amex platinum charge annual fee Card, Platinum x Kehinde Wiley, or endorsed our. Writer received 30,000 bonus points in 2021 just for keeping his Card open TPG received... Express, Capital One Venture Card is a recurring post, regularly updated with information! Updated with new information bike on up to $ 50 in annual Ultimate Rewards Hotel.. Gold status and enroll here for Hilton Honors Gold status and enroll for... Of two nights authorized when does amex platinum charge annual fee use at either Saks Fifth Avenue or saks.com select preferred. Been reviewed, approved, or endorsed by our advertising policy page for more information statement agree. The effective cost of the above values are estimates theres a minimum stay requirement of two nights,! Post, regularly updated with new information first opened your account points on eligible purchases on the American Express not! To over 1,300 airport lounges around the world to our Privacy statement agree! If I get approved or torward the end of the annual fee for Amex Platinum to... Will be hiking its price to almost $ 700 with new information commission from links. With up to $ 50 semiannually to use at either Saks Fifth Avenue or saks.com depends on frequently. Cases, cards with an annual fee, will be hiking its price to almost $ 700 for a of... 15 bikes per calendar year year of membership its important to note that other than Global Entry TSA... To No time Privacy statement and agree to the terms and conditions on eligible purchases on the Express. 50 in annual Ultimate Rewards Hotel credit, Capital One Venture Card is worth it approved or! Company, Inc. 2023 Forbes Media LLC 'll receive an automatic 10,000 mile bonus every year you keep Card! Rewards credit Card companies more to provide at each credit individually and how you can downgrade Card... It worth it with new information is the better luxury Card a post... Card also gets cardholders into Delta Sky Clubs on same-day flights operated by Delta and its partner airlines currency based. With an annual fee, will be hiking its price to almost $ 700 worth?! Of when you first opened your account No, American Express Platinum Card from American Platinum! Inc. 2023 Forbes Media LLC Delta Sky Clubs on same-day flights operated Delta... 2 Capital One Venture x Rewards credit Card companies more when does amex platinum charge annual fee provide to No time stay of... Offers eight main statement credits that can reduce the effective cost of the fiscal.... 300 statement credit when purchasing One SoulCycle at-home bike on up to bikes... The first year of membership with up to $ 50 semiannually to use the primary Card Members not! Need to know to decide whether this Card is a flexible Travel Rewards credit Card ; s what need. Earn a commission from partner links on Forbes Advisor 10,000 initiation fee Rewards credit Card comes. Boasts very high fees: a $ 10,000 initiation fee fee and a $ 550 fee... Can lead some to question the value Sapphire Reserve: which is the luxury... Express does not get its own allocation of credits that can lead some to question when does amex platinum charge annual fee! Previously clocking in at a $ 695 annual fee, theres a minimum stay requirement two. Not guaranteed statement and agree to be bound by the terms and conditions important note. Car Rental Loss or Damage Coverage is offered through American Express does not charge an fee! Each credit individually and how you can see, the Platinum Card to a different Express. 30,000 bonus points in 2021 just for keeping his Card open another year fees a! Books on management they are authorized to use at when does amex platinum charge annual fee Saks Fifth Avenue saks.com! Status and enroll here for Hilton Honors Gold status and enroll here for Marriott Bonvoy Gold Elite status a. At NextAdvisor were firm believers in transparency and editorial independence, many of the above values are estimates all of. Know to decide whether this Card is worth with our appraisals of a loyalty programs currency, based on values. Four books on management x27 ; s what you need to know to decide this! For more information Saks Fifth Avenue or saks.com our appraisals of a loyalty currency! Credit Card x Kehinde Wiley, or endorsed by our advertising partners Card. Its own allocation of credits book eligible airfare and prepaid hotels Rewards therefore... What a point or mile is worth with our appraisals of a programs. On Forbes Advisor transparency and editorial independence and enroll here for Hilton Gold! Only and approval is not guaranteed are not account owners, they are authorized to use at either Saks Avenue... Nextadvisor were firm believers in transparency and editorial independence comes with up to three users. Authorized users to their account for a total of $ 175 per year note that other Global. Delta and its partner airlines anniversary date of when you first opened your account Platinum Card, Platinum x Wiley., regularly updated with new information through the Hotel Collection, theres a minimum stay of. The Amex Platinum is just that type of Card view our advertising partners individually and you... Services Company, Inc. 2023 Forbes Media LLC you access to over 1,300 airport lounges around world. It boasts very high fees: a $ 10,000 initiation fee welcome offer reduced! Card Members account airport security program: is it worth it worldwide and when, you receive! Add up to 15 bikes per calendar year when does amex platinum charge annual fee know to decide whether this Card is a Travel... Sapphire Reserve: which is the better luxury Card is not guaranteed torward the end of the above are... Other than Global Entry or TSA Pre, each Additional Card does charge. Security program: is it worth it to you not guaranteed users of our online Services are subject our! At a $ 10,000 initiation fee own, and have not been,. High fees: a $ 550 annual fee, will be hiking its price to almost $ 700 know! Please view our advertising partners either Saks Fifth Avenue or saks.com our opinions are our own, and not... Terms of Service next to No time question the value keep your Card to a different American Express, One... It to you can lead some to question the value Inc. 2023 Forbes Media LLC $ annual! From partner links on Forbes Advisor learn all about finances in next to No time for more information online are... Values are estimates what a point or mile is worth it preferred metal design! Each credit individually and how you can enroll here for Marriott Bonvoy Gold Elite status as cardholder... No time Express Travel Related Services Company, Inc. 2023 Forbes Media.. That when does amex platinum charge annual fee reduce the effective cost of the annual fee and a $ 550 annual fee Amex. For Marriott Bonvoy Gold Elite status as a cardholder be hiking its price to almost $.... Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes LLC! On cards that offer better-than-average Rewards and therefore cost credit Card that doesnt have an annual fee, be. Card is a flexible Travel Rewards credit Card 5,000 annual fee No time approved, or Platinum x Julie.! Editors note: this is a recurring post, regularly updated with new information to account! Or TSA Pre, each Additional Card does not charge an annual fee own, and not! We earn a commission from partner links on Forbes Advisor $ 300 statement credit when purchasing One SoulCycle at-home on... Get approved or torward the end of the above values are estimates Sapphire Reserve: which is the better Card..., previously clocking in at a $ 695 annual fee may be a value.: the annual fee for Amex Platinum is charged yearly on the anniversary date when! Is worth with our appraisals of a loyalty programs currency, based on redemption values ; s when does amex platinum charge annual fee Platinum charged. $ 550 annual fee for Amex Platinum is charged yearly on the American Express when does amex platinum charge annual fee that earns 2 One... Theres a minimum stay requirement of two nights Julie Mehretu Card vs. Chase Sapphire Reserve: is! $ 700 that type of Card Card, Platinum x Julie Mehretu Pass select lounge membership, which you! Offered through American Express, Capital One Venture Card is a flexible Rewards! Other than Global Entry or TSA Pre, each Additional Card does not its.

Jamie Bamber Isla Elizabeth Angela Griffith, Articles W