Exploring the Perks of the American Express Platinum Card
The Platinum Card® from American Express is designed for those who enjoy luxury and great travel perks. With a $450 annual fee, it offers a range of benefits. There’s no annual percentage rate (APR) since you need to pay off the total balance each month. You earn at least one point per dollar on every purchase. If you buy travel tickets, you get double the points, and shopping at their 300 select online stores can earn you up to 10 points per dollar. You can use these points for flights, gadgets, accessories, and more.
For frequent travelers, buying an international business class ticket gives you a free companion ticket, although there are some restrictions. American Express also covers the cost for Global Entry, which is a fast-track re-entry service into the U.S. The card partners with more than 700 hotels worldwide, offering up to $450 in complimentary benefits per stay.
Here are a few additional benefits:
– Zero liability for unauthorized charges
– Refunds for purchases you’re unhappy with, even if the store doesn’t accept returns
– Extended warranty service, adding up to one year to original warranties that last less than three years
– 24/7 concierge service for personalized help with shopping, events, and travel planning
– A $100 annual travel credit for vacations costing $3,000 or more
– Travel insurance with up to $500,000 coverage for accidental death or dismemberment during trips
– Event ticket protection, offering up to $2,000 per incident
– No foreign transaction fees
– Access to over 600 airport lounges through Priority Pass
Keep in mind, the cardholder needs to pay the full balance every month. If you miss a payment, there’s a $35 fee, and if you miss two months in a row, they charge a 2.99% interest on the balance or $35, whichever is more.
If you’re okay with the $450 annual fee, can pay off your card each month, and travel often or would appreciate concierge service any time, the Platinum Card is a good option. However, if your spending or annual travel costs are less than $3,000, this card might not be the best fit for you.
