How do I find and add Amex Offers to my Card? Regardless of the amount, many people are reluctant to pay any annual fee. When does the annual fee kick in for the platinum? These offers are subject to change at any time. It has a $95 annual fee and comes with perks like a complimentary DoorDash DashPass membership through 12/31/24. Then use your card to pay for eligible incidental fees from that airline and receive a statement covering those fees, usually 2-4 weeks after you pay for them. The American Express Platinum Cards $695 annual fee works out to about $58 a month. American Express Platinum card's $695 annual fee is higher than the average annual fee among new credit card offers right now. American Express Platinum Edge Credit Card. 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. Complimentary memberships in Hertz Gold Plus Rewards, Avis Preferred and National Car Rental Emerald Club Executive. Cost includes $12.95 plus applicable local sales tax. That's $900 toward travel when you redeem through Chase Ultimate Rewards. Starting in 2023, statement credits for the $300 Equinox Credit benefit will be provided on an annual basis of up to $300 per year and will no longer be provided on a monthly basis of up to $25 back per month. Although many people avoid cards that charge an annual fee, cards with fees may be a savvy choice if you can make use of their benefits. Performance information may have changed since the time of publication. 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. Insider values Amex points as worth 1.8 cents each, on . There is no guarantee youll receive an offer of any type. Earn 10x points on eligible purchases on the Card at restaurants worldwide and when . Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. For example, if you dont use Equinox, Uber and Clear, thats over $600 worth of perks that you would not use, which could make the card not worth it to you. The Amex Platinums main competitor, the Chase Sapphire Reserve, also has a high annual fee at $550, but comes with perks like a $300 annual travel credit, $100 Global Entry/TSA Precheck fee every four years. Here are some ideas for using your Amex Platinum airline incidental credits throughout 2023: Pay for seat assignments, checked bag fees, and food and beverages on future flights. On cards that offer better-than-average rewards and therefore cost credit card companies more to provide. Some cardholders tend to forget about the hotel elite status that comes with the Platinum Card. Amex Platinum cardholders can add up to three authorized users to their account for a total of $175 per year. You might be using an unsupported or outdated browser. She previously covered travel and credit cards as lifestyle. Becky Pokora is an avid traveler with a particular love for the outdoors. The Platinum Card from American Express now carries a $695 annual fee, but for many travelers, the cards benefits will more than offset that charge. Editorial Note: We earn a commission from partner links on Forbes Advisor. The card also earns 5 points per dollar on airfare booked directly with airlines or at Amex Travel on up to $500,000 and is offering a welcome bonus of 100,000 Membership Rewards points if you spend $6,000 in the first six months of card membership. Enrollment required. If you have questions, please consult your own professional legal, tax and financial advisors. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards perRead More. That said, theres no denying that $695 is a lot of money. You will get $15 in Uber Cash per month (bonus $20 in December) for Uber rides or Uber Eats orders. You can book up to three rooms and receive these benefits on each room. Underwritten by New Hampshire Insurance Company, an AIG Company. It currently has a 60,000-point welcome bonus which you'll earn after spending $4,000 in the first three months of card membership. Yes, however, this welcome offer is reduced. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). If you're a regular Walmart customer, this can save you a ton of money. At the end of the day, it's not financially savvy to spend more money just to take advantage of the card's benefits. This can help negate the cost of the $250 annual fee (See Rates & Fees). These are federal laws that provide certain protections to active duty military. The material made available for you on this website, Send Money & Split Purchases: Venmo and PayPal, Credit Intel Financial Education Center. Getting the yearly fee for Amex Platinum to be waived The annual charge for all American Express cards is eliminated for active-duty military personnel, according to a spokesman of the credit card company. For new card members (as of July. A: No, American Express does not charge an annual fee immediately. The bonus is 15% for the no annual fee credit card, and 20% for the card with the $95 annual fee. Underwritten by AMEX Assurance Company. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive compensation from the companies that advertise on the Forbes Advisor site. 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. Select independently determines what we cover and recommend. Amex Just Increased the Platinum Cards Annual Fee to $695. Please visit americanexpress.com/benefitsguide for more details. Uber VIP status and up to $200 Uber credit, split into monthly $15 credits for U.S. rides plus a bonus of $20 in December. Earn 5 Membership Rewards points per dollar on flights booked directly with airlines or with, Earn 5 Membership Rewards points per dollar on prepaid hotels booked on American Express Travel. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Another option is to instead apply for a different version of the Amex Platinum. With those credits and benefits, though, comes a price. For example, if you already paying for an Equinox or New York Times subscription, then those are valuable benefits. Bank of America Cash Rewards - 8,000. Ill leave this out of the total valuation, since whether you add authorized users, how many you add, and what benefits they use can vary, but it is still worth mentioning. Here's what you need to know to decide whether this card is worth it to you.. Amex Platinum benefits With over $3,500 in potential value, it's easy to justify having the American Express Platinum Card for one year even with a nearly $700 annual fee. Get up to $300 back per calendar year on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your Platinum Card. However,. Do the Math! Hot Tip: You receive the airline incidental once per calendar year. Additional Card Members must be 13 years of age or older.8. It could be another American Express card, a business card if you are a business owner or a comparable travel credit card that may be a better option for you. (you may be eligible for an. 5 Benefits are only available for Fine Hotels + Resorts or The Hotel Collection properties booked through American Express Travel. Regardless of the amount, many people are reluctant to pay any annual fee. Given the byzantine nature of this perk and how much you have to spend to leverage it, though, we're not really considering it here. Earn Up to $150 Back When You Shop With PayPal. 6 Incidental air travel fees must be charged to the Card Member on the eligible Card Account for the benefit to apply, and must be separate from airline ticket charges. 21.99% p.a. If youre approved for Global Entry, youll receive access to TSA Pre at no additional charge. One TPG writer received 30,000 bonus points in 2021 just for keeping his card open another year. You can even use Pay With Points to purchase your tickets. Heres a closer look to help you decide if its worth it to you to apply for the card and how it compares to some other travel cards with lower annual fees. But the Card also offers an abundance of elevated dining, entertainment, and wellness benefits. If you add up all of the existing and new credits, youre looking at over $1,400 in value in your first year alone. And if you're a current cardmember facing an upcoming renewal at the higher annual fee, you can always call customer service and see if you're eligible for a retention offer. Remember: While Additional Card Members are not account owners, they are authorized to use the primary Card Members account. Platinum cardholders can book stays through the Amex Fine Hotels + Resorts program. Overall, the Amex Platinum still remains worth it if you can take advantage of the benefits without overextending yourself. At NextAdvisor were firm believers in transparency and editorial independence. 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. after you use your new Card to make $2,000 in purchases within the first 6 months of Card Membership. Cardmembers receive up to $200 in statement credits each calendar year when booking a prepaid stay via Amex Fine Hotels + Resorts or The Hotel Collection on Amex Travel. Get all of our latest home-related storiesfrom mortgage rates to refinance tipsdirectly to your inbox once a week. One airline-branded card, for example, offers a free checked bag for the cardholder and a companion. A Complete Guide, How to Make the Most of Travel Credit Cards, Better Mortgage Lender Review 2023: Easy Online Preapproval Experience, Limited Menu, $200 hotel credit as an annual statement credit for prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel, $240 in annual statement credits (up to $20 per month) on purchases or subscriptions with Audible, The New York Times, SiriusXM and Peacock, $300 in annual statement credits (up to $25 per month) on eligible Equinox memberships or a digital subscriptions to Equinox+, an on-demand fitness app. 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 have poor or limited credit history and cant qualify for a no annual fee credit card. Read more about Select on. Amex increased the Platinum card's annual fee from $550 per year to $695 per year (see rates and fees ). 20.24% - 27.24% variable on purchases and balance transfers, Either $5 or 5% of the amount of each transfer, whichever is greater. Proudly powered by WordPress interest rate. $195 annual fee (waived in first year) Earn 3 points per $1 spent at major supermarkets and petrol stations, with no limit on points earned. Besides saving money, credit cards with no annual fee may also offer you benefits and rewards that can lead to cash back, travel points, and more. The Business Platinum Card from American Express, Capital One Venture X Rewards Credit Card. 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. Cardholders can bring up to two guests to Sky Clubs but must pay $39 per guest, and these guests will also need to be flying Delta or a partner airline. (Enrollment required.). A credit card annual fee is what you pay for certain cards usually to enjoy special features and perks. Underwritten by AMEX Assurance Company. Card Members can apply for TSA Pre through any Authorized Enrollment Provider. Toward the other end of the spectrum is an elite travel credit card with a $550 annual fee. Save my name, email, and website in this browser for the next time I comment. Gold status includes: upgrades when available, late checkout and enhanced Wi-Fi. Enrollment required. Please visit americanexpress.com/benefitsguide for more details. A: No, the annual fee for the American Express Platinum Card is not charged immediately. One way to have the fee waived in full is to qualify under the Military Lending Act or Servicemembers Civil Relief Act. It comes with airport lounge access, hotel elite status and travel credits like the personal Platinum card, with the same annual fee of $695 (see rates and fees). Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases plus, 10X points on Lyft rides through March 2025, Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. The representative can sometimes find a supervisor willing to approve the request. 7 Card Members must link their Platinum Card to their Uber app. I was told by CS that the Amex Ascend fee does not get included in the one annual fee policy - asked them to check multiple times and just stopped short of saying . Clear expedited airport security program: Is it worth it? However, this depends on you leveraging each credit to its maximum. Please visit americanexpress.com/benefitsguide for more details. Bank of America - 9,100. Related: Is the Amex Platinum worth the annual fee? So, to help cover the costs (I'm really desperate for the 150k MR), I decided to rob my neighbor. These new perks, credits and discounts are accompanied by a new higher annual fee on the Amex Platinum. You might want to run the numbers on travel credit cards, too. Heres a look at the Platinum Cards annual fee and how the Card continues to go above and beyond. When the representative mentions the annual fee, find out if they would be willing to waive the fee for the first year. Our points-obsessed staff uses a plethora of credit cards on a daily basis. Find the best credit card for you by reviewing offers in ourcredit card marketplaceor get personalized offers viaCardMatch. By providing my email I agree to receive Forbes Advisor promotions, offers and additional Forbes Marketplace services. Although, American Express is known to offer retention bonuses to those who may be considering closing their cards this can sometime be a statement credit worth hundreds of dollars or large patch of points. Among other things, they include airline, hotel, and ride-sharing credits, airport lounge access, and preferred member status at branded hotels. For more information, see. We earn a commission from affiliate partners on many offers and links. It doesnt come with many travel perks, though, other than up to a $100 application fee credit towards Global Entry or TSA PreCheck every four years. The new benefits go into effect on July 1, 2021 for both existing and new card members. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Theres a limit of one benefit package per stateroom and a three-stateroom limit per cardmember per sailing. Instead, we'll look at the card's ongoing benefits. Earn 5X Membership Rewards Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, 5X Membership Rewards Points on prepaid hotels booked with American Express Travel, 1X points on all other eligible purchases. Your email address will not be published. $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline. The American Express Platinum Card, known for its prestigious benefits and sleek appearance, is a card worth bragging about. 2. Almost S$2,000 for a credit card may seem expensive, but looking at the price tag alone does not tell you the value of an item. 2% cash back at gas stations and some department stores. Want more credit card news and advice from TPG? Cardmembers receive a $100 shipboard credit for inside and outside staterooms; a $200 shipboard credit for balcony, veranda and mini-suite staterooms; and a $300 shipboard credit for suites and other select staterooms on select cruise lines. Through Amexs International Airline Program, cardmembers can get discounts on premium economy, business- and first-class tickets on around two dozen airlines. Annual fees on the American Express Platinum card are typically charged on the account anniversary date. Cardholders will also get more lifestyle and experience-based perks, including 40% off a membership for the Premium Private Jet Program with Wheels Up, as well as up to $2,000 in initial year flight credits to book private charter flights; and access to the Global Dining Access program by Resy, where cardholders can get exclusive tables at some of the worlds top restaurants. Terms, Conditions and Limitations Apply. Those users are eligible for some of the same benefits as the main account holder, including lounge access, Global Entry/TSA PreCheck reimbursement, hotel elite status and Amex Fine Hotels + Resorts benefits (not to mention Amex sometimes offers cardholders bonus points for adding authorized users). Youll need to register for these elite statuses on the Amex website. If you took a critical look at your spending habits and decided this card just isnt worth it for you, there are plenty of other travel credit cards on the market at lower annual fees. Additionally, American Express will consider other factors, such as your debt-to-income ratio and prior history with Amex. A: There are a few ways to avoid paying the Amex Platinum annual fee: 1. For example, suppose you have poor credit. Barclay Arrival Mastercard - 7,000. Monthly membership costs $12.95 plus local sales tax, so the statement credits should cover most, if not all, of that. If the annual fee is too expensive, don't fret there are several other credit cards you can consider without a steep annual fee. The app costs $40 per month and may be useful to those who dont live near an Equinox physical location. Please visit americanexpress.com/benefitsguide for more details. You can mix and match how youd like to take advantage of this, but youll earn up to $240 in annual statement credits (broken down into $20 monthly increments). We want to help you make more informed decisions. If you're considering the Amex Platinum, it could be worth it for the first year, and then reevaluate when the second annual fee posts. Descended from the first-ever travel and dining credit card, the American Express Platinum Cardhas long been at the forefront of luxury travel, with high points multipliers and strong benefits. Cardholders are eligible for this statement credit every four years (4.5 for PreCheck) since you have to renew your Global Entry or TSA PreCheck membership every five years. Instead, you can consider how youll use the card and do the math. The Amex Platinum card offers a 80,000 Amex Membership Reward (MR) point welcome bonus when you spend $6000 in the first 6 months of card membership. 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. Please review. The statement credits described in the previous section can easily help bring your effective annual fee down from the published $695 per year to $0 per year. 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Save my name, email, and wellness benefits when does amex platinum charge annual fee history and cant qualify for a total $! No annual fee is what you pay for certain cards usually to special! Of money Card 's ongoing benefits we earn a commission from affiliate partners on many offers and links cards to! My name, email, and wellness benefits one airline-branded Card, known for its prestigious benefits and appearance... On a daily basis the representative can sometimes find when does amex platinum charge annual fee supervisor willing to approve the request cardmember sailing. Prior history with Amex through Amexs International airline program, cardmembers can get discounts on premium economy, and! Apply for TSA Pre through any authorized Enrollment Provider cant qualify for a no annual fee immediately Capital!, and wellness benefits credits and benefits, though, comes a price program: is worth. Tpg writer received 30,000 bonus points after you spend $ 6,000 on purchases the. 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