Bottom Line
True, the annual fee is a billowing $550. But if you just gotta have all the bells and whistles of a luxury card -- this is it. Maximize your benefits and perks, and you're really only paying around $150 per year for a card that you can use for access to superb lounges and hotel elite status. If you're more about just getting to your destination and are less concerned about the comfort while traveling, then this isn't the best option for you.
Why You Might Want This Card
Huge Annual Fee... But Huge Credits And Benefits
Depending on your needs and tastes -- the Personal Amex Platinum might be the grand daddy of all travel cards. With an annual fee of $550, you want to make sure you squeeze everything you can out of this one.
There are so many benefits with this card, it's difficult to narrow it down to the most important. So here are a few of our favorites: Start with Uber VIP ($15 credit every month; be sure to opt-in for this one). Then there's the $200 annual airline credit (which just took the annual fee down to $350), plus a $100 reimbursement for your Global Entry/TSA Credit. If you want luxury travel amenities, this is your card. Amex Platinum cards are the ONLY cards that offer Centurion Lounge access for you and 2 guests and/or access to Priority Pass lounges and Delta Sky Clubs (when flying Delta). You're also automatically enrolled into Hilton Honors Gold Status -- and the Gold Elite status with SPG.
The only spending multipliers worth mentioning are the airfare and hotel spends -- both raking in 5x points per dollar.This is one Amex card you might NOT want to wait for a special offer on if you aren't a big spender. The special offers usually requires a whopping $10,000 spend.
Exceptions To The Rule
About Amex Member Rewards
American Express points are relatively easy to earn and use. The rub is, it takes a little more strategy to maximize value.
The simplest option is using the travel portal, which works similarly to Chase. Unfortunately each point is worth only 1 cent toward airfare, making it similar to Capital One valuation if used this way. But if you have the Business Platinum card, your points become worth 1.54 cents each (although it is through a points rebate, not for the current booking), making it a solid valuation with a ton of flexibility. Two quick notes:
- If you don’t see a desired flight (e.g. Southwest) you can call 800-297-2977 as Amex has access to more flights and you can still pay with points
- Bookings through Amex travel generally DO NOT show as award travel, so you should receive miles for the flight with the carrier’s system. In this way, it is better than Chase.
Buying gift cards through the Amex Portal will also yield 1 cent per point, sometimes slightly better if there’s a special offer.
Generally, 1 cent is a poor return on Amex points. So if you don’t have the Platinum card, the best way to maximize value is to transfer to a partner. Here are the top choices:
- Delta Airlines is a 1-to-1 transfer partner of Amex, making your points worth about 1.3 cents each. The trick here is to use Virgin Atlantic (A star alliance partner of Delta) to book international business class and Delta for U.S. domestic flights.
- Air France via Flying Blue is a great option for International Business Class Flights. You’ll pay some surcharges, but they are relatively small for business class seats.
- Singapore Airlines, if your destination aligns with theirs, could be a great value for your seats. Here’s why: Singapore’s coach is better than most other carriers' “comfort” seats but cost fewer points.
- Other potential transfer partners which are slightly more complicated include:
- British Airways
- Etihad (booking partners through their site)
- Avianca (booking partners through their site)
Where Amex Platinum Fits In This Point Ecosystem
This card has a sign-up bonus of 80,000 points, whereas the Amex Gold only has a sign-up bonus of 60,000 with an annual fee of $325
Personal Experience
