Is the Platinum card worth it?

American Express Platinum Card

My cousin recently asked me, “Is the Platinum Card worth it?” and I immediately told her, “Absolutely!” I gave her a brief explanation but promised a detailed list of the benefits so she can decide for herself. (For those unfamiliar with the Platinum Card, it is one of the credit cards American Express offers.) As I began listing the benefits, I thought to myself, “This would make a great blog post too!” So here we are, sharing why we believe the Platinum Card is worth it. However, you be the judge and decide for yourself. (And by we, I am referring to Jose and I because he helped me create this blog post 😉 )

We have been having the Platinum Card since 2014 so it is safe to say we’ve experienced a majority of the benefits this card brings to our lives. Below is a list of the benefits we find extremely valuable and worth it. We hope this list serves as a guide to help you determine if the $550 annual fee for the credit card is worth it or not.

Our personal favorite Platinum Card benefits:

  1. Earn up to $100 in statement credits at Saks Fifth Avenue.
    • That’s up to $50 in statement credits semi-annually, which means from January through June and July through December. No minimum purchase required. By the way, this is usually when I purchase my favorite makeup foundation by Estée Lauder.
  2. Earn up to $200 in Uber Cash.
    • If Uber rides are a part of your lifestyle, this one is a no-brainer. Receive $15 in Uber Cash for rides or eats orders in the US every month plus a bonus $20 in December. That’s up to $200 for Uber rides or eats orders annually.
  3. Access to the American Express Global Lounge Collection.
    • This means you’ll have access to 1,300+ airport lounges in over 500 airports around the world. Some of the lounges include: The Centurion® Lounge network, the International American Express lounges, Delta Sky Club®, Priority Pass Select lounges, and Airspace Lounge. By the way, the Centurion® Lounge network includes some of the finest lounges I’ve ever visited. (For the next trip, I plan to share all about our experience at the Centurion Lounge located at the George Bush Intercontinental/Houston Airport (IAH).)
  4. Earn up to $200 in statement credits for an Airline of your choice.
    • This means, you can select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to your Platinum Card.
  5. Fee credit for Global Entry ($100) or TSA PreCheck ($85).
    • Receive either a statement credit available every 4 years after you apply for Global Entry ($100), or a statement credit available every 4.5 years after you apply for a five-year membership through any Authorized Enrollment Provider for TSA PreCheck (up to $85). If approved for Global Entry, at no additional charge, you will receive access to TSA PreCheck – pretty cool, huh?!?

Other benefits include:

  1. Extended warranty from manufacturers.
    • American Express can extend the Original Manufacturer’s Warranty for up to one extra year for covered purchases.
  2. Cell phone protection.
    • Reimbursement for repair, or replacement costs, following damage (or theft) up to $800 per claim with a limit of 2 approved claims per 12-month period. The cell phone line must be listed on a wireless bill and the prior month’s wireless bill was paid by an eligible card account. A $50 deductible will apply to each approved claim.
  3. Gold Elite status for the Marriott Bonvoy program.
    • Marriott’s portfolio includes 30 brands with more than 7,000 hotels and resorts in 131 countries and territories. With Gold Elite status, you can experience a complimentary upgrade to an enhanced room at check-in. Earn 10 points per eligible US dollar spent and a 25% bonus over base-level members. Late checkout up to 2 p.m., subject to availability.
  4. 5X points for flights booked directly with airlines or American Express Travel.
  5. 5X points for hotels booked on American Express Travel.

Final Thoughts

As you decide if the Platinum Card is the right credit card for you, consider your current (or future) lifestyle. For example, if you travel frequently, and would like to have access to exclusive airport lounges, perhaps this is an incentive for you. Not to mention, you’ll basically get your Global Entry AND TSA PreCheck for free, which is super beneficial if you travel domestically or internationally. Or if you currently Uber everywhere, or on the weekends, you know the Uber Cash is probably worth it. Additionally, if you shop at Saks Fifth Avenue, even if it’s just for makeup, this benefit makes sense too.

Only you know if the Platinum Card fits into your lifestyle or not. Please do your own research and make a decision based on your findings.

If you found this blog post to be helpful in making a decision, and you would like to apply for the Platinum Card, it would mean the world to us if you used our referral link. I’ll link it here. American Express offers a cool referral program for family and friends, and once you become a member, you can also share your link with family and friends. You’ll be compensated in points at no cost to anyone. 😉

As always, if you have any questions, comments, or additional insight, please don’t hesitate on emailing me at sonia@mrsprofresh.com. You can also send a DM on Instagram, or comment below on this blog post.

xoxo

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