The American Express Platinum. It’s one of those cards that it almost everyone has heard of and that everyone thinks of as one of those fancy “ooh-la-la” cards.
It does come with a hefty annual fee of $550 that’s not waived the first year. However, like most high annual fee cards, you do get quite a lot of bang for your buck.
Welcome bonus
The current public welcome bonus offer is 60,000 points after spending $5,000 in purchases in your first 3 months. Like all other American Express cards, applicants are only eligible for a welcome bonus once in a lifetime (in practice this seems to only be enforced up to 7 years, though that’s still a long time). It’s also important to note that higher bonuses are somewhat frequently available for the Platinum. Currently, some prospective applicants can find a 100,000 bonus by going through Cardmatch.com.
Card benefits
Here are the major benefits of this $550 per year card:
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$200 in airline credit
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- The credit is technically only meant for incidental fees with your chosen airline, such as paying for checked bags, in-flight purchases, change fees, etc. However, in practice, gift cards and airfare with certain airlines, such as Southwest, are almost always reimbursed. Note that this is not intended and may change at any time.
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- Must manually choose an airline from the benefits section of your account.
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$200 in Uber credit, plus Uber VIP status
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- Comes as ride credits in $15/month increments with $35 for December
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- The credit does not carry over month to month. Use it or lose it.
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- Usable with UberEats
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- Will automatically apply to the Uber account in which the Platinum card is added.
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$100 in Saks Fifth Avenue Credit
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- Comes as two, separate $50 credits – one usable between January and June, and the other between July and December.
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- Must manually enroll for the credit from the benefits section of your account.
- Credit renews every 5 years.
- Just charge the Global Entry or TSA PreCheck application fee to the card and it will automatically be reimbursed.
- American Express Centurion Lounges
$100 credit towards Global Entry or $85 towards TSA PreCheck
Airport Lounge access
- Delta SkyClub access provided the cardholder is flying a Delta marketed or operated flight. You can even attach your Platinum card to your Delta account incase you forget to bring the card with you.
- Priority Pass Select membership: Complimentary access to over 1000 lounges worldwide, food and beverage credit at certain airport restaurants, and discounts at certain airport retail shops.
- International American Express, Plaza Premium, Escape, and Air Space lounge access.