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.
-MJ, July 18, 2014
I cancelled my American Express Platinum, because AMEX lied to me!
AMEX refused to honor the sign up bonus–despite a representative confirming my account was eligible for it! The offer mysteriously vanished from my account, and the AMEX recorded phone call was mysteriously “unable to be listened to.”
I am terminating my relationship with American Express and filing complaints with the BBB/FCPB/FTC, plus giving AMEX bad reviews.
@Levy Flight @ Marshall Jackson
Agree with both of you that would like to see AMEX rework additional benefits of the Plat before picking up. Especially now the new Everyday cards have some great rewards earning features and competitors like Ritz Carlton and doing a good job of loading that card up with value now.
@David Young
How do you find the FHR rates, are they cheaper or more expensive on average than what is found on the hotel website ?
Thanks
That’s it, thanks!
@Disco,
I missed that, but I found this on a google search….. is this the one you saw?
https://www.ameriprise.com/cash-cards-and-lending/cards/platinum-card-from-american-express.asp
Isn’t there a specially-branded version of the Platinum card out there with a smaller signup bonus and no annual fee for the first year (with no fee for second card the first year too). I swear I read it on a blog a few weeks ago…?
You give them the card, your ID, and your boarding pass. They scan the card, and I do not know what kind of message they get when they do so. No guests, including your children with Sky Clubs. That’s why I have the additional card for MrsMJ. You can get up to 3 additional cards for the one $175 fee.
I have a European issued Amex plat. We only have access to the Priority Passs Lounges. MJ when you enter a Delta Skyclub do you only show your Amex card, or do they actually check what kind of card it is ( so a US issued card or other)?
And what about kids, can they join you when you enter the Delta Sky Lounge or is the access one person per card?
thanks
I really appreciate the FHR program. That extra free day, late check-out, breakfast and $100 hotel credit really add up. We use it three to four times per year.
One key point about the SPG Gold: if you are also a Delta PM or DM, you get some pretty sweet perks at Starwood. Like you don’t have to waste your welcome perk on Internet – it is already included.
Great point, Darth. I don’t stay at SPG as much as I’d like so I sometimes forget about Crossover Rewards.
For a Star Alliance flyer already with those gold status’s, Global entry and Precheck the Plat offers little value (lower than the gold card). I also have very few airline charges. The centurion lounges look interesting being SFO centric but I need something more for me to pick up this card. Would like Amex to think of something.
@Levy Flight,
Completely agree. It gets harder to make the ROI work for folks that don’t fly Delta or get the other benefits through other means. It can be done, just depends on specific travel needs.