2023 NextAdvisor, LLC A Red Ventures Company All Rights Reserved. 10X miles on hotels and rental cars, 5X miles on flights when booked via Capital One Travel; unlimited 2X miles on all other eligible purchases, Earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening. The Black Card offers 1.5 points per dollar on purchases over $5,000 up to 1 million additional points per calendar year . You must check at least one of the boxes to proceed. Whats more, Platinum also helps get you exclusive access to sought-after restaurants around the globe thanks to Global Dining Access by Resy, your personal digital dining concierge. Youll need to register for these elite statuses on the Amex website. Up to a $155 statement credit that covers the cost of a monthly. Monthly membership costs $12.95 plus local sales tax, so the statement credits should cover most, if not all, of that. the fee is typically charged in full when you open your account and then once a year in your anniversary month, though a few cards will divide the fee into installments and collect it monthly.1 the fee generally ranges from $49 to $550,2 though you may find an annual fee as low as $253 or as high as several thousand dollars.4 but there are also It's harder to put a price on airline lounge access and elite status with Hilton and Marriott. Bottom line. ShopRunner membership includes free two-day shipping and free return shipping on eligible items at participating online stores. You will receive $50 semiannually to use at either Saks Fifth Avenue or saks.com. Platinum card from american express exclusively for mercedes. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Major Amex Platinum changes Annual fee As of July 1, 2021, all new Platinum Card members will be charged the increased $695 annual fee. The venerable Platinum Card has a $695 annual fee. Improve earnings, maximize rewards and track progress toward dream trips. (Enrollment is required for select benefits.). You will get $20 back each month for one or more of the following services: Peacock, The New York Times, Audible, Sirius XM, Hulu, ESPN, The Disney Bundle, Disney+ (enrollment required). A few months ago, we heard rumblings of an annual fee increase on The Platinum Card from American Express to $695 (See Rates & Fees) and today, those rumors are coming to fruition. But that is only valuable to you if you use them. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. Amex Platinum annual fee increase from $550 to $695. Benefits include a $300 annual Capital One Travel credit, airport lounge access and a large welcome bonus. Use of this site constitutes acceptance of our Terms of Use, Privacy Policy (Your California Privacy Rights) and California Do Not Sell My Personal Information. On cards that offer better-than-average rewards and therefore cost credit card companies more to provide. Amex increased the Platinum card's annual fee from $550 per year to $695 per year (see rates and fees ). Make sure to activate this credit first under the Benefits section of your Amex Platinum account, which will then send you to the Clear website to sign up for the membership. Eligibility and Benefit level varies by Card. 5 Benefits are only available for Fine Hotels + Resorts or The Hotel Collection properties booked through American Express Travel. To enjoy the features and perks of some credit cards, you pay an annual fee. CNBC, When is Amex Platinum annual fee charged? If your application is not approved for those options, you may have to choose between the annual fee or doing without a card. Editorial Note: We earn a commission from partner links on Forbes Advisor. We'd love to hear from you, please enter your comments. The Platinum Card from American Express (Terms apply. NextAdvisor may receive compensation for some links to products and services on this website. But aside from the benefits, be sure to evaluate your own spending prior to applying. 2023 American Express. It is offering a welcome offer of 60,000 points when you spend $4,000 on eligible purchases within six months of card membership, and earns 4 points per dollar on dining and at U.S. supermarkets (up to $25,000 per calendar year, then 1 point per dollar), as well as 3 points per dollar on airfare booked directly with airlines or through Amex Travel and 1 point on everything else. In addition, there are valid arguments that the Amex Platinum card is only worth holding onto for one year, and then cardholders should consider canceling when the second annual fee posts on the billing statement because the value of benefits significantly decreases after the first year, most notably because you won't receive a second the welcome offer. Adding Card Members to your account can be a great way to maximize points-earning potential and extend benefits to those you care about. 2% cash back at gas stations and some department stores. Eligible Equinox membership types include Single Club, Regional Access, All-Access, Destination Access, and E by Equinox access. See rates & fees) has long been one of the most popular travel rewards cards available thanks to the usefulness of the Membership Rewards points it earns as well as an array of valuable perks. There are even more places your Platinum Card can get you complimentary entry and exclusive perks. First, lets do quick rundown of the current benefits of the card. Terms apply to the offers listed on this page. When you pay for the $100 Global Entry application fee or the $85 TSA PreCheck fee using your card, it will be refunded to you as a statement credit. The Chase Sapphire Reserve is another premium travel card loaded with benefits, including a $300 travel credit, Priority Pass airport lounge membership, plus it earns 3X points on all travel and dining purchases. To view rates and fees for The Platinum Card from American Express please visit this page. Yes, there are some no annual fee credit cards designed for people in this situation. Complimentary Marriott Bonvoy Gold Elite status. it boasts very high fees: a $5,000 annual fee and a $10,000 initiation fee. Capital One Venture X Vs. Chase Sapphire Reserve, How To Find The Cheapest Travel Insurance. No Annual Fee Credit Cards. Same Service, No Annual Fee. Plus, youll earn 5 points per dollar on prepaid Hotel Collection stays that are booked online. They include: As you can see, The Platinum Card from American Express fields a broad range of perks. The representative can sometimes find a supervisor willing to approve the request. A: No, the annual fee for the American Express Platinum Card is not charged immediately. 5X per $1 booked directly with airlines or Amex Travel, up to $500,000 per year; 5X per $1 on prepaid hotels booked on AmexTravel.com; 1x per $1 on other purchases. However, it still does not include baggage delay reimbursement. Depending on how you use it, they say, a card with an annual fee even a high one may make better financial sense than a no annual fee credit card.6. You could also argue the Global Entry or TSA PreCheck application fee credit is a moot point since many other (less expensive) travel credit cards already offer this benefit. However, some credit card enthusiasts have compared some of the benefits to that of a "coupon book," questioning the true value these credits are offering Platinum cardmembers. Thankfully, the up to $200 prepaid hotel credit is fairly easy to . The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. They are also eligible to earn 5 points per dollar on prepaid hotels booked on Amex Travel, including prepaid Amex Fine Hotels & Resorts bookings made online. Learn all about finances in next to no time. Read more about Select on. On the other hand, if you will take advantage of its ongoing benefits, such as lounge access, Fine Hotels + Resorts bookings, Marriott and Hilton elite status, and International Airline Program ticket savings, as well as even just one or two of the credits, then springing for the Platinum Card from American Express is probably worthwhile. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. New cardmembers will see the annual fee on their first billing statement. Is a Credit Card with an Annual Fee Worth It? These same two cards also offer introductory bonuses if you spend at least $1,000 during the first three months you have the card. Plus Ups are excluded. Underwritten by AMEX Assurance Company. Eligibility and Benefit level varies by Card. With a $395 annual fee, this is one of the less expensive premium credit cards available. Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Amex Platinum cardholders can add up to three authorized users to their account for a total of $175 per year. Step 3. How do I Redeem Membership Rewards Points? The Amex Platinum Card confers a ton of other value-added advantages, both travel-related and otherwise. Get Forbes Advisors ratings of the best travel credit cards and helpful information on how to utilize travel rewards and benefits to get the best deals for your next adventure. You might want to run the numbers on travel credit cards, too. All Rights Reserved. Whats more, Additional Card Members will receive benefits including but not limited to Global Entry or TSA Pre fee credits. Please review. At 80,000 points, the welcome offer alone is worth around $1,600 by our latest estimates thanks to how versatile American Express Membership Rewards points are. The cardholder must be traveling, but that traveler can purchase up to eight tickets on the same reservation with participating airlines. Find the best credit card for you by reviewing offers in ourcredit card marketplaceor get personalized offers viaCardMatch. Enrollment required. For more on the Offer & Benefit Terms listed above, All of this is on top of the many perks Platinum has been known for, including 5X Membership Rewards, Platinum goes the extra mile to replace lifes hassles with everyday adventure through perks and services like access to the, Whats more, Platinum also helps get you exclusive access to sought-after restaurants around the globe thanks to. Things To Do Before Canceling A Credit Card, Best Credit Cards: Reviews, Rewards & Offers, Chase Sapphire Preferred Credit Card Review, High reward potential on flights and hotels booked through American Express Travel, Multiple credits can help justify the fee, Luxury travel benefits and elite status with Hilton and Marriott with enrollment, Maximizing the statement credits takes some work and could be unworkable for many, Reward rate outside of travel is sub-par for a premium card. 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