American Express Platinum Card Benefits

American Express Platinum Card Benefits – American Express “precious metal” cards, whether gold or platinum have a reputation of prestige. The gold card and the platinum card both offer a range of benefits to cardholders, and they both have annual fees that are significantly higher than the average credit card fee.

Learn more about the differences between the Amex Gold Card and Amex Platinum so you can decide if one is right for you.

American Express Platinum Card Benefits

The American Express Gold and Platinum cards are actually “charge” cards rather than “credit,” which means you must pay the bill in full each month.

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The platinum card is basically a gold card with more rewards and a higher fee. The American Express Gold card has a $250 annual fee, while the Platinum card has a $695 annual fee in 2023.

The Gold card has an annual fee of $250, and there is no annual fee for adding additional cards to a Gold account. One of the biggest perks is the membership rewards program, which allows consumers to earn points with purchases.

The gold card is designed for people who like to shop, eat and have a lot of everyday spending. American Express Gold cardholders can earn four points for every dollar spent in the US. it. Restaurants and US For every dollar spent on any other purchase.

As of January 2023, first-time cardholders are also eligible for 90,000 points after they use their card to make $4,000 in purchases during the first six months of account membership.

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Unlike traditional credit cards, American Express cards do not have a regular APR or charge interest, as all balances must be paid in full each month. However, the gold card offers card members the flexibility to pay for purchases of $100 or more over time at a set interest rate.

Other benefits include up to $120 in dining credits each year – up to $10 per month in automatic statement credits when you use your card at Grubhub, Seamless, The Cheesecake Factory, Wine.com, Goldbelly, Milk Bar and participating Shake Shack locations . However, cardholders must enroll in the program to be eligible.

The Gold card also offers an Uber cash benefit of $120 or $10 per month. The card also offers an extended warranty program*, purchase protection*, return protection*, Amex preferred seating on airlines and roadside assistance.

* Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

American Express Platinum Vs. American Express Gold Card

The Platinum Amex card offers members five points for every dollar spent on flights booked directly by airlines or through the American Express travel site, five points for prepaid hotels booked through amextravel.com, and one point for every dollar spent on other purchases.

The Platinum Welcome Bonus as of January 2023 gives cardholders 150,000 points when they spend $6,000 or more in the first six months of account membership. However, if you want to add cards to your Platinum account, expect to pay an extra annual fee of $175 for up to three cards and $175 per card after that.

The Platinum card is designed for people who travel frequently. It has more travel perks than the gold card. Rewards points can be used for merchandise, gift cards, dining, shopping, entertainment or for use on the Amex travel website. Points can also be transferred to other frequent flyer programs.

The Platinum card offers $200 in Uber credits and an annual $200 incidental airline fee credit on the eligible airline of your choice, giving passengers complimentary checked baggage and an in-flight meal with qualifying airlines.

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Members also receive a $200 hotel credit with bookings at qualifying Hotel Collection and Fine Hotels + Resorts properties through the Amex travel website. Other benefits include (but are not limited to) a $240 digital entertainment credit, $300 Equinox credit and a $189 clear credit. The platinum card’s ample add-ons can significantly offset the cost.

The Platinum card offers a host of extras such as discounts on private jet and limousine rentals and a dedicated concierge service to assist in managing travel details.

There are other costs to consider besides annual fees. Both cards are charge cards, which means balances must be paid in full at the end of each month. The first late payment will incur a fee of $29. Any additional late payments in the following six months will result in a fee of up to $40 per month. Cardholders can also receive a refund of up to $40 in payment fees.

There are no interest charges on the Platinum account as it must be paid in full each month. However, there is more flexibility with the gold card, which offers cardholders the option to carry a balance on certain purchases over $100 with interest. American Express offers a calculator to calculate your interest charges.

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Both Amex Gold and Platinum offer a range of benefits, with the Gold card catering more to everyday spending and the Platinum card designed more for travelers. The platinum card has more benefits, but the annual fee of $695 is higher than the $250 fee of the gold card.

The marketing of the card pushes status. A solid credit score and income is necessary to qualify for the American Express Platinum card. Annual membership soared from $145 to $695 for 2021. Cardholders receive a variety of travel perks including access to airport lounges as well as benefits from Uber, airport security app CLEAR, hotels, car rental companies and concierge services.

The gold card can provide a range of benefits for everyday spending for a more modest fee than the platinum card. It will cost you $250 per year. The Gold card offers the option of carrying a balance on certain purchases over $100 with interest.

The right card for you will depend on your income, how much you charge, how much you travel and what you can afford. Consider if you want to pay extra for more perks, in which case the Platinum card may be best for you.

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With the black, platinum, gold and familiar green cards, American Express offers cards that fit most incomes. The best card for you will depend on your personal and financial situation, including your income, preference for charging or paying cash, how much you travel and what you can afford. Keep in mind that Amex often changes the benefits to the card, so check the current offerings before you apply.

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But the two have some key differences. The American Express Black Card is a high-end, exclusive charge card that is available to individuals on an invitation-only basis. Consumers may qualify for the American Express Platinum Card based on their credit score and income.

The American Express Black Card is not available to just anyone. This is a charge card that is offered to High Net Worth Individuals (HNWIs) by invitation only. Think of it as an exclusive club. This means that you can not just apply to join.

Also referred to as the Centurion Card, it is easy to recognize thanks to its distinctive black color and American Express Centurion. The card itself is made of anodized titanium and weighs almost 14 grams (half an ounce).

Getting an invitation generally depends on a number of factors. The card’s member agreement web page doesn’t have details on how people qualify for an invite, while news reports said that to be invited, you have to spend a few hundred thousand dollars on your card to around $1 million a year. . Minimum annual income estimates also vary widely.

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Having enough disposable income allows the cardholder to keep the hefty fees associated with the card. According to the cardholder agreement,

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