Credit Cards

Is The Platinum Card From American Express Worth its $550 Annual Fee?

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The Platinum Card from American Express is a popular rewards credit card known for its suite of luxury perks, such as concierge service, travel protections and access to various lounge networks.

However, these top-tier benefits come at a cost: a $550 annual fee, which can be steep for some travelers. Although the card’s list of benefits sounds enticing, you might question whether the AmEx Platinum annual fee is worth it. Here’s what to consider.

9 Valuable Benefits That Offset the AmEx Platinum Annual Fee

Deciding whether The Platinum Card from American Express is worth it for you depends on whether you’ll maximize the card’s perks.

“The biggest thing to consider is how much you travel and how often you spend time in airports,” says Nick Serati, co-founder of Thrifty Traveler, a travel deals resource.

These are the major perks offered by The Platinum Card from American Express. Consider how much you’re able to use them when calculating the card’s value for you.

Welcome Bonus

New cardholders who’ve never claimed The Platinum Card from American Express’ welcome bonus can earn an additional 60,000 points. But to receive a welcome bonus, you must spend at least $5,000 on your card within the first three months of opening the account.

This bonus alone is worth $600 when redeemed for travel through American Express Travel, the issuer’s travel booking service. If you’re able to reach the required spend on the card within the allotted time, you’ll earn back more than the cost of the annual fee for the first year.

TSA Precheck or Global Entry

Standing in congested airport security lines can make your travel experience feel more hectic. The Platinum Card from American Express provides cardholders with a reimbursement credit of up to $100 for TSA Precheck or Global Entry membership.

To receive the credit, you must apply for membership and pay for the application fee using your AmEx Platinum Card. This benefit is available every four or 4.5 years, depending on which program you enroll in…Read more>>

Source:-creditcards