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. How do I Earn Membership Rewards Points? Some may get huge value from these benefits if they're frequent travelers at airports with qualifying lounges or prefer staying at Hilton and Marriott properties. Terms apply to the offers listed on this page. Looking beyond the welcome offer, which is pretty lucrative, you will have to map out which of the perks of The Platinum Card from American Express you will eventually utilize and to what extent. That's $900 toward travel when you redeem through Chase Ultimate Rewards. 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. Eligibility and Benefit level varies by Card. Although many people avoid cards that charge an annual fee, cards with fees may be a savvy choice if you can make use of their benefits. Underwritten by AMEX Assurance Company. Card Members can apply for TSA Pre through any Authorized Enrollment Provider. The Platinum Card from American Express, 17 airline and three hotel transfer partners, $200 annual airline fee statement credits, Global Entry or an $85 fee credit for TSA PreCheck, American Express Global Lounge Collection, Gold Elite status in the Marriott Bonvoy program, purchase airline gift cards to use toward tickets, How to make sure youre getting your Amex Platinum Uber credits, enroll your Amex Platinum Card for this benefit to take effect, Your guide to the Amex Platinum Saks Fifth Avenue credit, Key things to know before getting Global Entry, How the Amex Platinum card easily saved me $200 on a one-night hotel stay. Related: Best credit cards for streaming services. Amex Platinum annual fee increase from $550 to $695. One of the card's other, newer benefits that can help you save time and stress at the airport is the annual statement credit for Clear membership of up to $189, which should cover the whole cost to join this program. 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. Depending on how you use it, they say, a card with an annual fee even a high one may make better financial sense than a no annual fee credit card.6. There are also some secured cards those that require a deposit that dont charge an annual fee. By doing so, youll get elite-like benefits including noon check-in (based on availability), room upgrades (when available), daily breakfast for two people, complimentary Wi-Fi, guaranteed 4 p.m. late checkout and a unique property amenity valued at $100 or more. Cardholders will also get more lifestyle and experience-based perks, including 40% off a membership for the Premium Private Jet Program with Wheels Up, as well as up to $2,000 in initial year flight credits to book private charter flights; and access to the Global Dining Access program by Resy, where cardholders can get exclusive tables at some of the worlds top restaurants. Read more in TPGs full guide on the Fine Hotels + Resorts Program. All Credit Intelcontent is written by freelance authors and commissioned and paid for by American Express. With those credits and benefits, though, comes a price. You must check at least one of the boxes to proceed. The Platinum Card has a $695 annual fee.1 Though the fee is paid once a year, the math works out to about $58 a month. Are you sure you want to rest your choices? 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. 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. Eligibility and Benefit level varies by Card. She previously covered travel and credit cards as lifestyle. American Express Platinum card's $695 annual fee is higher than the average annual fee among new credit card offers right now. Same Service, No Annual Fee. 1 For more on Rates and Fees for The Platinum Card, click here. See offer terms for details. But that is only valuable to you if you use them. Learn more. Insider values Amex points as worth 1.8 cents each, on . Earn 10,000 Membership Rewards Points. We earn a commission from affiliate partners on many offers and links. However, some credit card enthusiasts have compared some of the benefits to that of a "coupon book," questioning the true value these credits are offering Platinum cardmembers. 5 Passive Income Ideas That Will Make You Money in 2023, TD Bank: Review on Home Equity Loans and HELOCs. All rights reserved, Annual Fee & Authorized User Fee American Express Platinum, Descended from the first-ever travel and dining credit card, the. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners. Through Amexs International Airline Program, cardmembers can get discounts on premium economy, business- and first-class tickets on around two dozen airlines. 7 Card Members must link their Platinum Card to their Uber app. For more information, see. Here is a list of the benefits you will receive in your first year of card membership: With over $3,500 in potential value, it's easy to justify having the American Express Platinum Card for one year even with a nearly $700 annual fee. For existing cardmembers, the increased annual fee will take effect for renewal . Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. With those credits and benefits, though, comes a price. You might want to run the numbers on travel credit cards, too. A year ago, the Amex Platinum added an array of new perks for cardmembers and raised its annual fee to $695 (see rates and fees) in the process. For more on the Offer & Benefit Terms listed above, All of this is on top of the many perks Platinum has been known for, including 5X Membership Rewards, Platinum goes the extra mile to replace lifes hassles with everyday adventure through perks and services like access to the, Whats more, Platinum also helps get you exclusive access to sought-after restaurants around the globe thanks to. Sign up for our daily newsletter! Youll also get an additional amenity like a bottle of wine on select cruise lines. It has a $95 annual fee and comes with perks like a complimentary DoorDash DashPass membership through 12/31/24. I would like to subscribe to the NextAdvisor newsletter. Get all of our latest home-related storiesfrom mortgage rates to refinance tipsdirectly to your inbox once a week. There are 7 key factors to consider before you apply for one. If the annual fee is too expensive, don't fret there are several other credit cards you can consider without a steep annual fee. Editorial content from NextAdvisor is separate from TIME editorial content and is created by a different team of writers and editors. Find the best credit card for you by reviewing offers in ourcredit card marketplaceor get personalized offers viaCardMatch. The American Express Platinum Cards $695 annual fee works out to about $58 a month. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. If you have travel purchases like flights and hotels coming up, you can take advantage of the 5X points for every dollar spent on travel booked through American Express. The app costs $40 per month and may be useful to those who dont live near an Equinox physical location. When the representative mentions the annual fee, find out if they would be willing to waive the fee for the first year. Its not a cash equivalent if you dont use a credit and in many cases youll need to make a special effort to earn them. For example, if you already paying for an Equinox or New York Times subscription, then those are valuable benefits. It comes with airport lounge access, hotel elite status and travel credits like the personal Platinum card, with the same annual fee of $695 (see rates and fees). A: No, American Express does not charge an annual fee immediately. Please visit americanexpress.com/ benefitsguide for more details. Whether youre an avid cruiser or only take one cruise every year or two, this benefit is worth mentioning. For rates and fees of the Amex Platinum, click here. Unfortunately, the Equinox and entertainment credits are more like coupons. The Capital One Venture card is a flexible travel rewards credit card that earns 2 Capital One Venture miles per dollar on all purchases. Use of this site constitutes acceptance of our Terms of Use, Privacy Policy (Your California Privacy Rights) and California Do Not Sell My Personal Information. Complimentary memberships in Hertz Gold Plus Rewards, Avis Preferred and National Car Rental Emerald Club Executive. The welcome offer is also something to consider in your calculations, but only for the first year. Thinking of getting 1 charge card. You might be using an unsupported or outdated browser. For new card members (as of July. 1 Credit Card Annual Fee Explained,The Balance, 2 Is Paying an Annual Fee for a Credit Card Worth It?, Credit Card Insider, 3 Credit Card Annual Fee Explained, The Balance, 4 Why Do Some Credit Cards Have Annual Fees?, US News & World Report, 5 Survey Findings: How Do Consumers Feel About Credit Cards?, Experian, 6 Is It Worth Paying an Annual Fee for a Credit Card?, NerdWallet. No Annual Fee Credit Cards. For example, suppose you have poor credit. Earn 5X total points on flights and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. How do I find and add Amex Offers to my Card? On cards that offer better-than-average rewards and therefore cost credit card companies more to provide. Please review. But, if you spend $5,000 each year on eligible airfare and prepaid hotel bookings, youll earn 25,000 points on these purchases, which is worth about $500. Platinum cardholders can book stays through the Amex Fine Hotels + Resorts program. In addition, unlike the Priory Pass privileges on other cards, it does not include credits at airport restaurants. Because TSA PreCheck is included with Global Entry, it is advantageous to apply for Global Entry to use the entire $100 credit every 4 years. Underwritten by AMEX Assurance Company. 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. Platinum card from american express exclusively for mercedes. Amex platinum when is annual fee charged? 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. How do I Redeem Membership Rewards Points. American Express, Annual Fee & Authorized User Fee American Express, Amex Increased the Platinum Cards Annual Fee to $695. Want more credit card news and advice from TPG? Read more about Select on. Once that's done, youll automatically receive $15 in Uber cash credit each month, except for December, when you get $35 worth. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards perRead More. American Express has expanded The Centurion Network to include 40+ Centurion Lounge and Studio locations worldwide. While this won't directly offset my out-of-pocket cost for keeping the card, 55,000 Amex points can be worth far more than the annual fee. 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. In the right hands, the classic status card's staggering annual fee is well justified. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card. 7 Factors to Consider When Comparing Credit Cards. Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card. She's always looking for new ways to make travel easier, more memorable, and more affordable, particularly by using miles and points. Cost includes $12.95 plus applicable local sales tax. Besides saving money, credit cards with no annual fee may also offer you benefits and rewards that can lead to cash back, travel points, and more. You can qualify for 75,000 bonus miles when you spend $4,000 within the first three months of account opening. Underwritten by AMEX Assurance Company. If you're considering the Amex Platinum, it could be worth it for the first year, and then reevaluate when the second annual fee posts. 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