The post, “The Amex Platinum – Still the One in the One-Two Punch for Travelers” originally appeared in July 2014.
The Platinum Card® from American Express ($450 or $475 Mercedes Benz version with a better points bonus) has caught a bit of heat over the last couple of years. It started with the loss of the Continental lounges in the merger with United, hit a fever pitch as American and US Airways lounges dropped out, and then there was the crescendo when Delta announced Sky Club access changes for those who enter via a credit card relationship. There were other things along the way like the loss of Membership Rewards transfer partners like Continental and Southwest. All of these things combined led many travelers to question the value of the card, and some dropped it for other options. Yet here I am, with the Platinum card still occupying the top slot in my travel wallet, and I’m still calling it “the one in the one-two punch for travelers.” I think that is most true for Delta flyers like myself, but it’s still possible to piece together some real value and make the card pay for itself for others too. For me, the primary benefits of the card are:
- Access to Delta Sky Clubs (MrsMJ has her own Platinum Card for this as well)
- Priority Pass Select membership (the additional cardholder gets this too)
- Access to American Express Centurion lounges (Currently DFW and LAS, with SFO, MIA and LGA coming soon)
- Airspace Lounge access (BWI, CLE, and JFK)
- The $200 annual airline fee credit
- Reimbursement for Global Entry or TSA PreCheck fee ($100 or $85, every 5 years)
- Cruise Privileges Program
Now, these are not the only benefits, they’re just the most valuable to me and MrsMJ in our travels. Of course, there’s Starwood Gold status, elite rental car memberships with Avis, Hertz, and National. There’s also the Fine Hotels and Resorts (FHR) program that I do not personally use often, but know many really leverage that for maximum benefit. For MrsMJ and me, we are looking at annual fees of $450 plus $175 for the additional card, a total of $625. For us, considering that I would buy a Delta Sky Club Executive membership otherwise, the Sky Club access makes the Platinum Card worth the fee all by itself. Backing out $200 for the airline fee credit, and another $200 or so annually in value from Cruise Privileges, I’m looking at $225 per year, well worth it for us….and that’s not even counting reimbursement for Global Entry every 5 years.
In all cases, you need to do your own math, and figure out what works best for you. If you don’t travel enough to justify a lounge membership or take advantage of the card’s great benefits, you’ll be better off shopping for a less expensive card. While the Platinum card is a great one for travel benefits, it’s rarely the best for everyday spend and that’s why I refer to it as just part of a one-two punch for travelers. The Platinum card combined with another card like the Chase Sapphire Preferred Card®, or the Barclaycard Arrival Plus™ World Elite MasterCard® (I carry both) work together for benefits and earning valuable rewards points for your spend. For me, the Platinum card along with my Sapphire Preferred and Arrival+ are the perfect one-two (three?) punch for maximum travel benefits and rewards. YMMV.
I’m currently in the last week of a 3-week travel sprint. I’ll be posting new content throughout, but filling in a few slots with “Best of MJ” content from time to time. How does a post get designated as “Best of?” Pageviews, comments, and intuition.
I think it’s great the Amex Plat works well for you and for others. But I certainly believe the Amex Plat is not as valuable as it once was. My husband already has one, and I’ve never bothered to get one. I earn MR points using the Amex Business Premier Gold, since I purchase tons of airfare for my business and get the 3x bonus. But I honestly believe that MR points have become much less valuable except for Air France. Delta used to be a valuable partner, but Delta’s new annual limit on MR point transfers makes MRs largely worthless for me–since I only redeem for premium awards and the limit essentially precludes enough points for 2 premium awards. We fly UA most often (we’re both Lifetime Golds), but fly AA or SW or DL or B6 whenever the nonstop routing is available that is better than whatever UA might offer.
Chase URs and SPG points are now our preferred currencies–since Chase URs transfer to UA and since Hyatt and SPG hotels are our preferred chains (especially St. Regis/W/Luxury Collection and Park Hyatts). SPG also transfers to so many different airlines that it reminds us of how useful MRs USED to be. The 20% bonus on SPG-airline transfers is also a boon. Chase transfers to UA accesses most of the Star Alliance, transfers to BA accesses most of OneWorld, and transfers to Korean and Virgin Atlantic accesses Delta and most of SkyTeam.
Amex Plat would be more worthwhile if it bonused travel categories more like the Chase Sapphire Preferred. But Amex Plat is just a 1x earning proposition, and that is anarchronistic in today’s bonus world.
@Bill,
The CSP…or even Arrival Plus are much better for spending. The AX Plat card is one that I think is worth keeping for the benefits rather than the points rewards.