5 Reasons It’s Ridiculous Not to Have Amex Platinum In Your Wallet

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If you’ve been thinking about applying for The Platinum Card from American Express, now is a great time. I don’t have enough time to tell you all the reasons you want to get this card, but here is the gist.

Higher Sign-Up Bonus

 Unfortunately, the annual fee has increased to $550 for the first year, and just to be clear, it’s applied to your first statement. However, the welcome offer is also higher than before. The public sign-up bonus has gone up from 40,000 Membership Rewards points to 60,000 points — a 50-percent increase.

Keep in mind that the minimum-spending requirement also has gone up from $3,000 to $5,000. Effective March 30, cardholders can use all the benefits of the card, including the new ones. It is unclear how long the increased bonus will be around, so don’t wait too long to get it.

Earn 5X Points on Airfare

Earning 5X points per dollar spent directly with airlines has got to be the highest bonus rate in this category. Although the card does not come with travel protection, as do its competitors Chase Sapphire and Citi ThankYou credit cards, the high earning rate on airfare booked with airlines makes the Platinum Card competitive. Occasionally, I book flights for friends and family, and the card certainly comes in handy in those instances.

Receive $200 Uber Credit

This is another one of the new perks that was added to the card effective March 30. Members now receive a $200 annual Uber credit, but there is a caveat. The credit is restricted to blocks of $15 per month ($35 in December) but, unfortunately, does not roll over to the next month if left unused. The other catch is that the credit applies only to rides requested in the United States. The good news is that it does not matter which card you use to pay for rides, as long as the Platinum Card is linked with the ridesharing app.

Receive $200 Airline Credit

Still one of the best perks of the Platinum Card is the annual $200 airline credit. Card members receive $200 in incidentals with an airline of their choice, including checked bag fees, in-flight meals, entertainment purchases, etc. Depending on the airline you select, you can purchase gift cards for future use, and they count for 5X points on airfare. Since most airline gift cards do not expire, this is a great way to save money on airfare proactively. Believe me, I’ve used up most of my airline credits.

Enjoy Lounge Access

I’ve lost track of how many times I’ve used lounge access, be it Delta Sky Clubs, The Centurion Lounges or Priority Pass lounges across the airports worldwide. Even though card membership comes at a premium, the Platinum Card and its lounge access are a lifesaver, especially to those who travel often.

Airport food costs an arm and a leg, and having a snack away from the noisy gates is worth the annual fee. And with the benefits upgrade, members can bring guests to Priority Pass lounges at no extra cost.

Do you consider applying for the Platinum Card now that the annual fee has increased to $550?

Anya Kartashova

Chase Sapphire Preferred® Card

  • Annual Fee: $95 fee waived for the first year
  • Foreign Fees: No
  • Card Type: Bank

Apply Now
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  • Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That’s $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption – Kiplinger’s Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions – as long as there’s a seat on the flight, you can book it through Chase Ultimate Rewards

Breakdown

Earn (pt.)

Spend


First 3 months

50,000

$4,000


Travel Purchases

2.00

$1


Restaurants Purchases

2.00

$1


Coffee Shops Purchases

2.00

$1


Fast Food Purchases

2.00

$1


Alcohol & Bars Purchases

2.00

$1


All Purchases

1.00

$1


Chase Sapphire Preferred® Card

  • Annual Fee: $95 fee waived for the first year
  • Foreign Fees: No
  • Card Type: Bank
FTG Review Reward Breakdown Points Breakdown
  • Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That’s $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Named Best Credit Card for Flexible Travel Redemption – Kiplinger’s Personal Finance, July 2016
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel
  • No blackout dates or travel restrictions – as long as there’s a seat on the flight, you can book it through Chase Ultimate Rewards

Breakdown

Earn (pt.)

Spend


First 3 months

50,000

$4,000


Travel Purchases

2.00

$1


Restaurants Purchases

2.00

$1


Coffee Shops Purchases

2.00

$1


Fast Food Purchases

2.00

$1


Alcohol & Bars Purchases

2.00

$1


All Purchases

1.00

$1


Apply Now

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