Platinum Card® From American Express Review
by Mr Credit Card
About a year ago, I upgraded my American Express® Preferred Rewards Gold Card to the Platinum Card® from American Express. I have held off writing a review because I wanted to have first hand experience with using the card. As time passes, I would like to share my experience with you. So here goes…
Rewards and Formula
Membership Rewards First – The Platinum Cards reward is based on the Membership Rewards First program. “First” is the higher end version that is only available to platinum and centurion card holders. You will earn one point for every dollar that you spend and Membership Reward Points do not expire. (Watch the Video)
Bonus Points Mall – Amex also has a program called Bonus Points Mall where they have partnered up with online merchants like Target.com etc. When you access their sites through Bonus Points Mall on the Amex site and use your Platinum card, you can earn 4 points for every dollar that you spend on the card at these sites. This is actually a feature most people do not use, but is a great way to earn points.
Now that we’ve got the basics out of the way, let’s look at the other features of this card.
Travel Privileges
Platinum Travel Service – Platinum card holders can make use of Platinum Travel Service to make all their travel reservations. The advantage of using this service is that they will coordinate your bookings in terms of using the reward points you have earned.
Airport Club Lounge Access – This is a feature that I really like. Basically, as a platinum card holder, you can access the airport club lounge of the airline that you are flying even if you have a coach class ticket. Normally, this access is given only to business class flyers. But you and your family or up to two companions can make use of airport lounges.
Fine Hotels and Resorts – This program has partnerships with over 600 luxury hotels worldwide. When make a reservations at these hotels with your Platinum Card, you will have room upgrades when you check-in, continental breakfast for two each day, guaranteed 4pm late checkout and other special amenities that are unique to each participating hotel or resort.
International Airline Program – The International Airline Program allows you to get a complimentary business or first class ticket when you purchase a full fair business class or first class ticket from Travel Platinum Service (using your platinum card off course). Participating airlines include Aer Lingus, AeroMexico, Air France, Air NewZealand, Aitalia, Asiana Airlines, Austrian, Cathay Pacific, China Airlines, Delta Airlines, Emirates, Etihad Airways, Japan Airlines, Jet Airways, LAN Airlines, Luthansa, Mexicana, SAS, South African Airways, SWISS and Virgin.
Cruise Privileges Program – Platinum Cardholders who book their cruise vacations through the Platinum Travel Service with any of the cruise partners will get either a $300 shipboard credit or a two level stateroom upgrade. You will also receive special amenities from each cruise. Partners include Crystal Cruises, Cunard Line, Holland America Line, Princess Cruises, Regent Seven Seas Cruises, Silversea Cruises, The Yachts of SeaBourne, and Winstar Cruises.
Platinum Destination Vacation – American Express has also partnered up with select group of exotic vacation partners that will allow you to earn points and use points for these vacations. For example include Abercombie & Kent, American Express Vacation®, AutoVenture, Brendan Worldwide Vacations, Classic Vacations, Insight Vacations, Mountain Park Travel Canada, Orient-Express Hotels, Trains and Cruises, PerryGolf, PrimeSport, Ski.com, Tauck World Discovery.
Premium Car Rental Program – Card members will be given complimentary memberships to car rental programs of Hertz, Avis and National Car Rental.
Gold Starwood Preferred Guest Membership – This is actually a great perk – getting a gold level Starwood Preferred Guest Membership without meeting any quotas.
International Communications Solutions – This perk allows you to get the YouToMe Service where you can do call forwarding from your cell phone or you can give your friends a toll-free number to call you. Card members will be given 15 minutes of free air time. I have not used this service, so I cannot say if it is good or not.
The Limousine Program – Amex has partnered up with Carey, a limousine company to provide limousine services. The perk is that you can earn three points for every dollar that you spend on the card.
Platinum Villas – As a platinum card member, you can get access of absolutely gorgeous villas for an absolutely gorgeous price off course! Amex has teamed up with Abercombie & Kent, Beautiful Places, Four Seasons Residence Club, Lacure, The Mansion at MGM Grand and Villas of Distinction to offer luxurious villas for your vacation.
Private Yacht Program – Amex has partnered with Fraser Yacht and International Yacht Collection to offer card members customized Yacht trips to various destinations worldwide!
Private Jet Service Program – Amex actually markets this service for private jet programs. Their partners include Atlantic Aviation Flight Services, Bombardier Flexjet, Delta AirElite Business Jets, Le Bas International, Sentient Jet Membership.
Travelers Check and Foreign Currency – Amex allows you to get fee free travelers checks at any of their world wide travel offices.
American Express Travel Website – Amex has actually their own travel website where you can book your trips. You can earn double membership points when you use the site to book your trips. When you spend more than $3,000 a year, you will get a statement credit of $100.
Preferred Access
Platinum Concierge – Platinum card holders can have access to Amex Concierge service. This is a service that I have used many times, including the one that I made reservations for this years valentine’s day!
By Invitation Only – As a platinum cardholder, you will be able to get access to certain very high profile. For 2009, these events include :
Platinum Dining Reservations – Amex Platinum has made arrangements with restaurants, bars, bistros etc to hold a couple of tables for last minute reservations. I have many friends who have made last minute reservations at extremely hard to get restaurants. Now, they did not get the best seats, but they did get a place.
Platinum Shopping Partners – Amex has partnered by Neiman Marcus, Sony and Bergdorf Goodman to offer card holders certain privileges. For example, Platinum Card members can enroll their card in Neiman Marcus InCircle Program. You can then earn both InCircle Points and Membership Reward points when you shop at Neiman Marcus. Once you have accumulated 10,000 points, you can exchange them for a $100 InCircle gift card. Being enrolled in the InCircle program also allows you to earn InCircle points at Bergdorf Goodman as well. As for Sony, being a platinum card member allows you to enjoy VIP status with Sony’s program.
Premium Seats Program – Platinum card members can also get access to tickets before the general public for events in L.A. and New York. Examples of venues include Madison Square Garden, Radio City Music Hall.
Premium Access – Card members can also get early access and preferred seating (before the general public) to hot events like concerts etc.
Tour GCX – Special Golf Access – This is a program where you can play golf at over 250 private clubs in the US.
Equinox Fitness Club – You could also get a whole range of benefits and discounts at Equinox Fitness Club.
Departure Magazine – Once every quarter, you will get a “Departure” magazine from Amex. This magazine has articles on various places and travel articles around the world. It also has some interesting write ups on things like antique, where to buy exotic stuff etc.
American Express Selects – This is a program where you can shop at various online sites like hotels.com or orbitz.com (through Amex site) and get special discount using your Platinum Card.
Premium Protection – Amex calls these “premium protection”, but there really standard and common in most Visa and Mastercards these days. But here is a laundry list of features found on the Platinum card (that is found in most other Amex cards as well).
Premium Global Assist – This is a 24/7 hotline service that you can call for emergency medical, legal service especially if you are in a different country. (I haven’t had to use this yet!)
Roadside Assistance – I once had to use this when I left my keys in the car!
Car Rental Loss and Damage Insurance – This is an extremely useful feature because you do not have to pay the extra insurance when you rent a card (if you charge the rental to your Platinum Card).
Baggage Insurance – When you buy an airline ticket with your Platinum Card you will automatically get a “combined” baggage insurance of up to $3,000. Usually, the airlines also takes out baggage insurance, but Amex will top up to an extra $2,000 over the airline coverage as long the total coverage does not exceed $3,000.
Travel Insurance – Most credit cards have this feature and it is activated when you book your travels with the card. For the Platinum card, the limit is $500,000.
Purchase – This feature protects you from any damage, loss of goods you buy with the Amex Platinum for up to 10,000 per occurance and up to $50,000 in claims a year. I’ve had broken goods before, but the stores always took them back and I’ve never had to use this feature.
Extended Warranty – When you buy something with the card, you will have extended warranty that is equal to the original warranty period (capped at one additional year).
Return Protection – If return a product you bought with the card (within 90 days of purchase) and the merchant refuses to accept it, Amex will refund you the original purchase price (excluding any shipping cost) for up to $300. If you get returns of up to$1,000 in value each year.
Event Ticket Protection Plan – This feature protects you in the event that you bought tickets with Amex and cannot attend the events. You can be reimbursed up to $2,000 per incident for up to two incidents in a twelve month period. It needs to be a legitimate reason like medical reason for example. The “qualifying reasons” are not stated on the website so you will have to call their toll-free number to find out more. New York state residents do not qualify for this feature.
Guaranteed Fraud Protection – On their website, Amex will guarantee you against any fraudulant charges to your account.
Identity Theft Assistance – Amex has a 24/7 hotline for you to call in case your identity has been stolen. It has happened to me so I cannot comment on this service.
Dispute Resolution – This should be a standard feature for all credit cards. But essentially, when you dispute a charge, Amex will try to reverse it and if it can’t in the instant, they will help you dispute it on your behalf with the merchant.
Emergency Card Replacement – Amex will replace your card anywhere worldwide as quickly as 24 hours. Years ago, I was traveling in Australia and I lost a Visa card. I did not get a replacement card until I got home! It is moments like these that you wish you had an Amex!
Emergency check cashing privileges – Amex allows you to use your card to cash personal checks for up to $10,000 every 30 days worldwide.
No Pre-set Spending Limit – No pre-set limit does not mean unlimited credit limits. But from my experience, I have never been called by Amex even if I have a spike in my spending for the month. When I’m about to put a huge ticket on the card, a phone call to customer service does the trick and I’ve always had no problems. This feature I believe will increasingly become more important as credit card companies indiscriminately cut credit lines.
Phew – So What’s The Verdict? – Before I get to that, let me explain why I got this card. Firstly, American Express has been constantly sending me mails to upgrade my gold card. I got it partly for the ego of having one, but to also use it so I could actually review the card. How could I call myself Mr Credit Card and review a $450 annual fee card if I did not have one!
Throughout my 15 years relationship with American Express, I have always had nothing to say but good words about them. Service has been great. Now, I do understand not everyone has a great experience with them.
In 2008, the Amex Platinum still had the Domestic Companion Feature (buy one get one free) which they have discontinued. I used the Domestic Companion Complimentary Ticket three times and that alone paid for the annual fee. I have used their Roadside Assistance, their concierge numerous times, got into airport lounge on a few occasions. So even without the domestic companion ticket, I think this card is worth the value.
While reviewing the card again and writing this review, I realized that I have under utilized in several ways.
Firstly, I should be using the card more to shop online via shopamex.com at their Bonus Point Mall and earn more points.
Secondly, I have not enrolled in InCircle! Should do that just in case Mrs Credit Card goes on a shopping spree in Neiman Marcus!
Thirdly, I realized that I have not enrolled myself yet in the Starwood Preferred Guest program! I am entitled to the Gold Level Membership without having to meet minimum stay requirements.
I have also not used American Express Selects and get discounts shopping online!
So rather than say whether this is a good card or whether the $450 fee is worth paying, the question to ask is will you make it worth your while to get this card. After thinking long and hard about it, my answer is yes – it has for me and I think it will be worth it to keep this card going forward.
This card will appeal to various groups of people. For example, a frequent traveler will find this card appealing because of flexibility of Membership Rewards frequent flyer partners and hotel partners. Using airport lounges for free and getting various room upgrades at hotels will easily pay for the annual fee of this card. Busy executives who use the concierge service a lot will find that the card will pay for itself.
A business person in an industry where client entertainment is so important may find this card very useful indeed if getting great seat for concerts etc is important.
If you are in an industry serving high end clients and image is important, this is also a good card to get. Just to give an example : Last year, I sat down with two financial advisers over lunch at a diner. One took out a “gold” credit card to pay. But my keen eye told me it was a First Premier Bank Gold Card – a sub-prime card! The other financial adviser took out a “platinum card”. It turned out to be also First Premier Bank’s Platinum sub-prime card! Look, I never moved my accounts over to them. I’m Mr Credit Card and I don’t hand over money to a financial adviser who does not have good credit scores!
So round up this long review, I absolutely love my Platinum Card® from American Express. For me, the features more than pay for the fees and the service (for me at least) has been great.
March 26th, 2009 at 08:08
Hmm…all travel benefits basically. Pass
March 26th, 2009 at 15:19
Hi… I use mine for mostly business travel. I have a Gold Card for personal stuff. I’m wondering if Platinum is really is just a zero sum game.
1. $450 per year fee.
2. When booking airline tickets on the phone with an Amex Travel agent they charge a $40.00 fee. They will help you apply your membership awards to various programs. But, usually I’ve been online getting some ideas of airline schedules anyway….it might make more sense just to book the ticket using their travel web site, get the double points, and save the $40.00. I’ve tried the Amex Travel agent because I used to have a “real” travel agent who was really helpful. (ten years ago), but it isn’t really the same.
Scheduling a stay in Las Vegas recently, they suggested a “preferred hotel”, with some additional perks that was really reasonable, (and much less than the conference hotel, even if it is a 1.5 mile jog away). I’ll be interested to see how this works out.
3. Departures, the magazine is a joke. Also many of the “perks” like cruises and things are ridiculously expensive. Private jets? forget it. Limousine service? well maybe. Starwood Gold? Never got anything above the minimal yet… (two free bottles of water).
4. Airport Lounges – Highly overrated in the U.S. Seattle, SEATAC was going to close its lounge. Atlanta and Kennedy lounges: I love getting off a redeye flight and joining all the drunks in the lounges at 7:30 AM. And now they let in screaming kids, and/or have flat-screen TVs with CNN blaring in the lounge. You’re better off at an empty gate.
I do like the Gold Card at $75.00 a year and it offers some of the good things like car rental insurance.
I thought Platinum was going to have a lot of leverage….but in the two years I’ve had it, I would call it a breakeven.
March 27th, 2009 at 04:37
I just used my Platinum card to get 4 free nights in Las Vegas (2 nights at the Wynn, 2 nights at the Encore), suite upgrade, plus free lunches everyday, plus a one-time $45 breakfast credit per person. All for $0.
So IMHO, yes, this is worth well more to me than $495, especially when you factor in the airport lounges.
More info here: http://www.flyertalk.com/forum/american-express-membership-rewards/923796-2-free-nights-wynn-encore.html
March 31st, 2009 at 04:19
Awesome review! I will have to keep this card in mind for when my kids are a little older and we start traveling again. Also, I loved that anecdote at the end – hilarious!
April 1st, 2009 at 04:18
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May 18th, 2009 at 21:44
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May 19th, 2009 at 16:16
Great review. Thank you for taking the time and effort you put in to it. You helped me make up my mind. I just upgraded.
June 6th, 2009 at 10:28
This is a great review. Having just been hit with my first anniversary $450 charge I decided to double check the internet to see if the card was worth it or not. In my first year I have made use of the concierge service to obtain theater tickets, concert tickets, and brunch reservations at Balthazar. All were of great help. I’ve used the airport lounge numerous times – however note in many countries I have been turned away at the lounge of partner airlines – so this program works best in the US and Europe. Additionally I have been able to use the premier rewards for several free tickets from Ticketmaster.
I will say that a lot of the perks are geared toward extreme wealth including anything in departures, the private jet, villas etc. So at times I do feel I am trying to put a toe in a league that I don’t belong in. Despite that, having read this review I will maintain membership for another year and see what the fringe of the benefits can do for me.
July 11th, 2009 at 01:14
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August 12th, 2009 at 15:31
They actually charge you $10 for the luggage insurance. It’s not automatic as with other cards i was told when i called them.
August 13th, 2009 at 23:15
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August 27th, 2009 at 11:15
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November 29th, 2009 at 23:54
I have had some recent troubles with AMEX cutting my credit limit from 100k to 10k because I wouldn’t provide them two years of tax returns–I have never paid late in 13 years. they insisted they were cutting the limit based on negative credit report data. They just wouldn’t listen to me. They kept telling me if I got the data corrected through the credit bureau they would reevaluate and i kept telling them there was nothing negative on the bureau. this went on for weeks, the vicious cycle of clearly stupid customer service people who couldn’t grasp that AMEX might be wrong. i finally talked to an underwriter, but the whole experience has soured me to a great degree on AMEX.
Early on in my relationship with then, i did have a problem with a plasma TV that died during the warranty doubling period and AMEX paid $5000 to replace it. i guess that paid for a few years of fees. One feature of the Corporate Platinum in the $50k in primary rental car coverage. Sure , it costs $24.95, but you won’t have any claims on your insurance , up to $50k , if you damage the rental car–and that’s not the cheap secondary coverage many cards offer for free.
The $24.95 covers up to six weeks of rental, and I used it overseas repeatedly. Ironically, i did cause minor damage twice and AMEx paid for that and loss of use to the rental company. So, i would guess i have to say i am frustrated with them lately.
They also cut off my card while i was in london, claiming someone tried to use a duplicate at a Chuck E Cheese in illinois (and didnt succeed). They didn’t understand that they could press a card at my next destimation, Amsterdam, and kept insisting they had to send it from the US. I had to pay 50 euros for the cab ride to the AMEX office in Amsterdam just so I could get another card.
based on all this i think their customer service has really declined in the past few years. Until recently i’d have to say i never got what I’d have to term a “dumbass” when I called. that always impressed me. Now, it’s happened repeatedly in a brief time.
finally, i proved to them my net worth was 50x the credit limit and they still insisted on cutting the limit. i think they are giving brownie points to employees to reduce limits.
if it weren’t for bonus Points Mall, I’d have turned the card in as it isn’t accepted overseas except at hotels and some restaurants.
December 7th, 2009 at 12:15
I just closed my account. It was open for two months. Just recently they stopped my account at $4300. I said fine, told them to pay it off early with cc on file. One week later I’m at the grocery store. Card declined. I called them up, they said I was over the limit for the month, $2200 total. Half of what I paid off just the week before. No initial spending limit. Ha! I was never late on any statement payment. If anyone that makes over $70,000 a year puts everything on their Amex , they will spend more than$5k a month. It’s embarrasing and inconveniant to have your card declined when your account is clear and you have money in the bank. No initial spending limit, yeah, right. My master card works fine, I have a travel agent, and can get airport lounges through the air carriers cheaper. Later Amex
January 18th, 2010 at 04:02
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February 21st, 2010 at 03:23
Clearly this card isn’t for everyone with the $450 annual fee. I like your take on it. Even though you feel like you aren’t using the card to its fullest potential you still feel it’s a good credit card.
February 25th, 2010 at 23:54
Nice review on the card. I would like to know if the card comes with a welcome kit. I know the question is random but it just pop in my head.
Thanks
February 26th, 2010 at 00:04
yep – comes in a nice swanky box..
February 26th, 2010 at 19:50
Card provides zero value for the fee. Customer service seems to go out of thier way to be difficult.
March 5th, 2010 at 01:08
I have been an amex member for 10 years. I do not understand when you say you were declined for being over the limit? I have gone from charging $300 a month at times to over $11,000 a month and not once was my card ever declined nor did i receive anything from amex stating i was reaching my limit. In fact when i called them about that high volume month they told me my card does not have a credit limit on it, charges are approved based of off payment history and stated income and as long as my account was in good standing my charges would be approved, hence they were.
March 7th, 2010 at 02:43
When you upgraded your existing card, did the “Member Since” date stay the same?
March 7th, 2010 at 10:45
yes – although when we got the plum card for the business, it did not remain the same (business card – computer system mess up? dunno)..but we called and they apologized and asked if we wanted it reissued!
March 7th, 2010 at 17:36
After canceling my AMEX Gold some time ago, I received an invite for the Platinum last week. Surprising. Though no harsh words were exchanged, I made it very clear that poor customer service had put me in a bind repeatedly and I wanted no further business with them of any kind. I travel internationally 5 or 6 x p/yr an have found any previously earned “prestige” accorded AMEX has completely depreciated. While I disagree with Mr. CC based on my own experiences, the review is outstanding and appreciated.
March 26th, 2010 at 03:47
I’m considering getting a A/E Platinium card. Is there any distinction worth noting between a personal card v. business card?
March 26th, 2010 at 07:29
it’s essentially the same, but the business version gets you discount with OPEN Savings partners like Hyatt, Marriott Courtyard, Air Tran, Fedex etc
May 13th, 2010 at 19:46
Hi, from Toronto, Canada
Just a quick hello from as I’m new to the board. I’ve seen some interesting posts so far.
To be honest I’m new to forums and computers in general
Mike
July 19th, 2010 at 19:33
Hello to all. I must say that this review has made the incentives of the AMEX Plat much clearer than anything available on the net. Thank you MR. Credit Card for your dedication.
I do have a question pertaining to the Starwood Gold level membership perk. Does a AMEX Plat holder get this perk ofr the 1st year of membership then has to acquire to appropriate number of stays to keep this level of membership or do you get to keep it for the life of you AMEX Platinum membership?
Thank you in advance for your feedback.
July 19th, 2010 at 23:53
you keep it for life (as long as you are a cardholder)
July 23rd, 2010 at 05:19
Thats great! Thank you for the reply!