American Express has been taking it on the chin lately. Losing Costco, Starwood program in jeopardy with Marriott buyout, etc. But for many business travelers, there’s been an old reliable card in our wallets for years, the Amex Platinum….and hey…if you’re lucky and/or good, the Centurion Card. Each year, the sizable $450 annual fee hits about this time, and I have a conversation with myself every year.
The hefty annual fee is one I have continued to pay because of the benefits that come with the card. The benefits I value most in no particular order are:
- Cruise Privileges
- Starwood Preferred Guest Gold
- Hilton Gold
- Sky Club Access
- A smattering of rental car statuses (Avis, Hertz, National)
- Access to the Centurion Lounges at select airports (DFW, LGA, SEA, MIA, with more in the pipeline)
- Priority Pass Select
The Math
For sure, the Amex Platinum card is one you keep for the benefits and not for points earning. I’ve never been much of a Membership Rewards player, but if I were, the Platinum card with its 1 for 1 earning across the board is not the card I’d use most. But for a business traveler who flies Delta the majority of the time, the financial case is easy to make based on Sky Club access alone.
- Sky Club Executive membership = $695
- Platinum Card – $450 + $175 (additional card for MrsMJ) = $625
I haven’t even mentioned the $200 annual airline fee credit. Use that to cover fees (or gift cards) and that brings me down to a $425 outlay for Sky Club access for both of us. I would place the value of the cruise privileges benefits (not that cheap wine, on board credit, dinner at a specialty restaurant) that I’ve taken advantage of at around $200. If you book more expensive rooms, you can get more value through more generous on board credits.
While I appreciate hotel and rental car status, I don’t place much of a monetary value on them, but your mileage may vary on that. In the end, the Amex Platinum card continues to pay for itself with benefits that I value. As long as you are taking advantage of those benefits, the Amex Platinum continues to be a card that has a place in the wallet of many business travelers, this one included.
-MJ, January 6, 2015
I have AMEX platinum and AF is coming up. I just saw AMEX PRG business offer for 75K offer/$10K spend in 3 mo.
If I apply for AMEX Business PRG card, can I combine membership rewards into single account so I don’t lose it when I close AMEX platinum?
You can merge your MR accounts unless something has changed. When you open your new card, just give Amex a call and have them merge your MR accounts into one.
Have you been able to use Cruise Privileges on your Royal Caribbean sailings? I thought with the never ending BOGO sales, it was pretty much useless, because it was not combinable. Have I been getting incorrect information?
Had better luck with Celebrity, Karl. Could use with RCL, but Diamond + benefits usually better.
As soon as the 100K bonus comes back around, I’m going to snag it. I can definitely make use of the benefits, and 100K points definitely pays for the annual fee.
Tom,
Tell us more about that retention offer! 🙂
I keep Amex Platinum for the FHR. Sweet spots include the Four Seasons in Carlsbad (great for Legoland). An upgrade there means a 1245 square foot villa. Plus a daily $60 credit toward breakfast (which can be used as room service) and $100 dining credit and third night free means it costs less than a Sheraton.
For Delta captives, yes, I agree that the Platinum makes sense. If you’re an AA captive and Citi banking client like me — and have a family — I think the Prestige works better.
But I’m still keeping my Platinum for now after getting an absurdly good retention offer. Next year we’ll see.
I do not travel that much, a few of international and domestic flights each year. I have used the Fine Hotels benefit in Las Vegas for the past 2 years. The suite upgrades, free breakfasts, and free wifi have more than paid for the $450 fee.
Additionally, I have been able to use the $200 airline credit. I’m keeping the card for now.
Love the Centurion lounges. Apparently so does everyone else. Starting to get crowded.The Vegas one is almost always packed. However, the service and food are quite good.
Lots of love for those Centurion lounges for sure…. sometimes annoyingly so.
The Platinum Card is in a dark place right now, but the situation is improving with every new Centurion Lounge that they open. The Centurion lounges are great, but there aren’t enough yet to justify the $250 annual fee (after $200 airline credit). They should introduce new benefits as a stop-gap until new lounges get built; perhaps some “limited time” spending-bonuses for specific categories.
While we’re at it, the Gold Card should offer Centurion Lounge Access for $25. It needs to be propped-up as well, ever since the Everyday Preferred cannibalized it.
Getting the $200 airline credit as an Amazon gift card was the main reason I kept this card. Plus, last year with Amex Sync offers I got another $585 in savings. Keeping it this year became a no-brainer.
If I traveled more, I would absolutely use the benefits. As it is, I dont travel much for work and I have a family of 5, so we rarely use these benefits when we do travel.
I just cancelled it last month.