This card shines for this use, but overall the star ratings may differ when compared to other cards. For an explanation of our Advertising Policy, visit. Underwritten by AMEX Assurance Company. The welcome offer is also something to consider in your calculations, but only for the first year. Editors note: This is a recurring post, regularly updated with new information. For example, if you spend $500 each year on eligible Amex Fine Hotels & Resorts stays, youll earn 2,500 points on these stays, which are worth about $50 given our current valuations. I'm interested in getting the Amex Platinum card with waived annual fees for military on my active duty tour. Why Do Some Credit Cards Have Annual Fees?. Please see our. Underwritten by AMEX Assurance Company. On cards designed for people with no credit or poor credit who therefore pose a greater risk of defaulting on payments. 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. $50 annual Ultimate Rewards Hotel Credit, 5X points on travel purchased through Chase Ultimate Rewards, 3X points on dining, 2X points on all other travel purchases, and 1X points on all other purchases. Plus, your own feed of TPG content. Amex Just Increased the Platinum Cards Annual Fee to $695. I would like to subscribe to the NextAdvisor newsletter. 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. 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 existing cardmembers, the increased annual fee will take effect for renewal . They include an annual airline fee credit, an annual hotel credit, annual credits for Equinox, digital entertainment and Clear, monthly Uber cash, a bi-annual Saks credit and an every-four-years Global Entry or TSA PreCheck credit. Past performance is not indicative of future results. This is a simple but nice benefit. The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. NextAdvisor may receive compensation for some links to products and services on this website. You will be charged the annual fee on your first statement after your account anniversary date. Each year you can get one $50 statement credit for Saks purchases between Jan. 1 and June 30 and another $50 statement credit for purchases between July 1 and Dec. 31. Is a Credit Card with an Annual Fee Worth It? However, note that these figures are based on earning status the regular way through nights and stays and leveraging those benefits on those nights and stays. Up to a $155 statement credit that covers the cost of a monthly. Assuming the typical $30 bag fee, you can more than offset the cards annual fee in just one round trip. The Platinum Card has a $695 annual fee.1 Though the fee is paid once a year, the math works out to about $58 a month. 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. 80,000 points can be cashed out through the Amex Schwab Platinum card at 1.1 cents per point, making 80,000 Amex worth $880 cash. What Is a Credit Card Annual Fee? 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). The monthly credit can be used on multiple rides, but any portion of it that remains unused doesnt roll over at the end of the month. In an attempt to make the Platinum Card more lifestyle-focused, Amex added a digital entertainment credit that offers reimbursement for the following services: Audible, Peacock, SiriusXM and The New York Times. 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. 1 For more on Rates and Fees for The Platinum Card, click here. Editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by our partners. That's enough to give almost anyone sticker shock. (Enrollment required.). If you do use these services, as well as other perks that the card offers, you can easily offset the cost of the annual fee. But most importantly, don't force yourself into a difficult financial situation just to have a credit card. Are you sure you want to rest your choices? Editorial Note: We earn a commission from partner links on Forbes Advisor. It's not the only fee you need to worry about with The Platinum Card from American Express, either. Instead, all other credits are shared across all Cards on the account. How do I find and add Amex Offers to my Card? The Platinum Card from American Express is a high-end card that is packed with benefits and a hefty welcome offer. Terms, Conditions and Limitations Apply. In the right hands, the classic status card's staggering annual fee is well justified. You will receive up to $100 every 4 years after you apply for Global Entry. 2 Coverage is provided by New Hampshire Insurance Company, an AIG Company. Cost includes $12.95 plus applicable local sales tax. But, if you spend $5,000 each year on eligible airfare and prepaid hotel bookings, youll earn 25,000 points on these purchases, which is worth about $500. AMEX Platinum Charge members are entitled to two complimentary supplementary cards (a S$160.50 fee applies for the third card onwards), a benefit you should absolutely max out. Here are the best travel credit card welcome bonuses so you can save up to $750, The best luxury and premium credit cards if you want the best perks, Why the Fed raising rates could make your savings account more valuable and debt more expensive, How to get Super Bowl LVII tickets and VIP packages with points from multiple rewards programs, Last chance to get presale tickets to Taylor Swift's 'Eras Tour' through Capital One. Purchase airline lounge day passes for future use. If your application is not approved for those options, you may have to choose between the annual fee or doing without a card. Amex Platinum Quick Facts. Depending on how airlines code certain purchases, however, it is also sometimes possible to purchase airline gift cards to use toward tickets and be reimbursed via the credit (note that this can change unexpectedly). When you book a two-night or longer stay through The Hotel Collection with American Express Travel, youll get a $100 hotel credit for use on qualifying dining, spa and resort activities and a room upgrade upon arrival (when available). To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. Compare the cost in points or miles to cash, and see which option is best. $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases. With perks like $120 in annual dining statement credits ($10 monthly statement credit) and up to $120 in Uber Cash ($10 Uber Cash each month) . Please review. The Amex Platinum Card offers eight main statement credits that can reduce the effective cost of the annual fee. When does the annual fee kick in for the platinum? Toward the other end of the spectrum is an elite travel credit card with a $550 annual fee. The venerable Platinum Card has a $695 annual fee. Bank of America Cash Rewards - 8,000. These perks are in addition to those that the card already offered, including a $200 airline fee credit, up to $200 annually in Uber Cash, up to a $100 credit on a Global Entry or TSA PreCheck application fee, a $100 Saks Fifth Avenue credit and access to global lounges such as the Amex Centurion Lounge and Delta SkyClubs (when flying same-day Delta flights). Before we get into the details of the benefits on the Platinum Card from American Express, here is a look at the cards current welcome offer and ongoing perks. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Major Amex Platinum changes Annual fee As of July 1, 2021, all new Platinum Card members will be charged the increased $695 annual fee. To enjoy the features and perks of some credit cards, you pay an annual fee. 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. But since the welcome offer is a one-time perk, we wont consider it when deciding whether the Platinum Cards annual fee is worth paying. Welcome bonus: 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. There are even more places your Platinum Card can get you complimentary entry and exclusive perks. You might want to run the numbers on travel credit cards, too. A recent national survey conducted on behalf of Experian found that 33% of Americans with credit cards are concerned by annual fees. You will get $15 in Uber Cash per month (bonus $20 in December) for Uber rides or Uber Eats orders. These are provided as guidelines only and approval is not guaranteed. A card with no balance transfer, cash advance fees, annual fees, or minimum interest charges may sweeten the deal to make it worthwhile. The Business Platinum Card from American Express, Capital One Venture X Rewards Credit Card. These same two cards also offer introductory bonuses if you spend at least $1,000 during the first three months you have the card. 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. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards perRead More. 3. Enrollment is required. You have poor or limited credit history and cant qualify for a no annual fee credit card. Not only can you earn Membership Rewards points for Additional Card Member purchases in the same way you do on your own, Additional Gold Card for Platinum Card Members get benefits like Global Entry or TSA Pre fee credits and access to The Hotel Collection.8 Adding an Additional Card Member can also be an effective way to help that person learn financial responsibility and establish credit if theyre 18 or older. Get $200 back in statement credits each year on prepaid hotel stays at either Fine Hotels + Resorts or The Hotel Collection, which requires a minimum two-night stay. 2023 American Express. See what a point or mile is worth with our appraisals of a loyalty programs currency, based on redemption values. 3 weeks ago Seth. For new card members (as of July. 4 Digital Entertainment Statement credits are earned on a monthly basis, up to $20 a month. Enrollment required. Although many of these premium cards charge high annual fees, the benefits, statement credits and earning potential they provide can make paying for them worthwhile. Amex Platinum annual fee increase from $550 to $695. With the cards many statement credits, you could potentially reap double the annual fee in value before even factoring in benefits like airline lounge access and automatic elite status with travel partners. Jul 27, 2022 Annual fees on the American Express Platinum card are typically charged on the account anniversary date. In addition, take the time to figure out if you'll be able to use the credits. We'll run a soft credit check to find special offers, but it wont affect your credit score. If you cannot maximize all of the cards credits each year perhaps because you live overseas and cant use the monthly Uber credits, or struggle to use the new lifestyle benefits for streaming services and Equinox then tally up the value of the credits you can use. Terms, Conditions and Limitations Apply. 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. You will receive access to the American Express Global Lounge Collection, which includes: Priority Pass membership, Delta Sky Club access and Centurion lounges. He is also the author of four books on management. Official application link: The Platinum Card from American Express with 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership. Blue Cash Everyday Card Cash Back Starts Here. Thanks & Welcome to the Forbes Advisor Community! Complimentary memberships in Hertz Gold Plus Rewards, Avis Preferred and National Car Rental Emerald Club Executive. The material made available for you on this website, Send Money & Split Purchases: Venmo and PayPal, Credit Intel Financial Education Center. If used fully, these credits amount to nearly $1,600 in value per year, more than double the card's annual fee. The value of this benefit depends on how frequently youd use the Platinum Card to book eligible airfare and prepaid hotels. Comparing Annual vs. No Annual Fee Credit Cards. 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. Earn 20% back as a statement credit on purchases when you use your new Card to check out with PayPal at merchants in the first 6 months of Card Membership, up to $150 back. One way to have the fee waived in full is to qualify under the Military Lending Act or Servicemembers Civil Relief Act. Learn all about finances in next to no time. Up to $300 statement credit when purchasing one SoulCycle at-home bike on up to 15 bikes per calendar year. Best card for premium perks while traveling, Capital One Venture X Rewards Credit Card, The Business Platinum Card from American Express, Why you might pay more for your hotel than your tickets and flights for Super Bowl LVII, 6 easy strategies I use to earn over 500,000 points and miles a year, How to visit one of TPG's favorite Caribbean hotels using points and miles, Credit card comparison: United Club Infinite Card vs. Chase Sapphire Reserve. Is Paying an Annual Fee for a Credit Card Worth It? Only a handful of cards (mostly invitation-only. Please try again later. 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. For example, the Platinum Card offers the following elevated credits and benefits: For more on the Offer & Benefit Terms listed above, click here. Another option is to instead apply for a different version of the Amex Platinum. How do I Redeem Membership Rewards Points. One TPG writer received 30,000 bonus points in 2021 just for keeping his card open another year. Looking beyond the welcome offer, which is pretty lucrative, you will have to map out which of the perks of The Platinum Card from American Express you will eventually utilize and to what extent. Lastly, beginning with your second year of card membership, you can contact American Express to inquire if youre eligible for any retention offers. Someone who wont use the majority of these statement credits should probably skip this card. A credit card annual fee is what you pay for certain cards usually to enjoy special features and perks. By doing so, youll get elite-like benefits including noon check-in (based on availability), room upgrades (when available), daily breakfast for two people, complimentary Wi-Fi, guaranteed 4 p.m. late checkout and a unique property amenity valued at $100 or more. Youll also receive a complimentary Priority Pass Select lounge membership, which gives you access to over 1,300 airport lounges around the world. Benefits include a $300 annual Capital One Travel credit, airport lounge access and a large welcome bonus. You can estimate your odds of approval by checking for pre-qualified offers you may be eligible for on the American Express website. Eligibility and Benefit level varies by Card. In addition, unlike the Priory Pass privileges on other cards, it does not include credits at airport restaurants. Can You Get a Credit Card Without a Social Security Number? Here are some common situations in which paying an annual fee may make sense: In some cases, accepting an annual fee may be your only way to get a credit card. Terms, Conditions and Limitations Apply. 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. That's $900 toward travel when you redeem through Chase Ultimate Rewards. Underwritten by AMEX Assurance Company. 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. For rates and fees of the Business Platinum Card from American Express, click here. Please visit americanexpress.com/benefitsguide for more details. Your financial situation is unique and the products and services we review may not be right for your circumstances. If you add up all of the existing and new credits, youre looking at over $1,400 in value in your first year alone. Bank of America - 9,100. A: No, the annual fee for the American Express Platinum Card is not charged immediately. Additionally, all Equinox memberships include complimentary access to the Equinox+ fitness app. Technically, this credit is meant to be used toward charges such as checked baggage fees, seat assignment fees, airline lounge passes and similar expenses. Learn more. See. 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. It also earns 3 points per dollar on dining, 5 points per dollar on travel purchased through Chase Ultimate Rewards and 2 points on all other travel. The value of the credits we tallied up doesn't take into account other American Express features such as *purchase protection, travel insurance and concierge service, among others. When you pay for your eligible Equinox membership or the Equinox+ fitness app, youll receive up to $300 in statement credits each year. You can book up to three rooms and receive these benefits on each room. 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. But those benefits don't come cheap: The Amex Platinum annual fee just increased to a whopping $695 (see rates & fees). Your email address will not be published. In most of the other situations listed above, you can make the best decision by getting out the calculator and doing some math. Annual fees are typically charged after the first year of membership. This is just one scoring method and a credit card issuer may use another method when considering your application. 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. Related: Clear expedited airport security program: Is it worth it? Underwritten by AMEX Assurance Company. 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. Terms, Conditions and Limitations Apply. Instead, you can consider how youll use the card and do the math. Additional Card Members must be 13 years of age or older.8. 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 . Credit Score ranges are based on FICO credit scoring. 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. So, to help cover the costs (I'm really desperate for the 150k MR), I decided to rob my neighbor. 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. Through Amexs International Airline Program, cardmembers can get discounts on premium economy, business- and first-class tickets on around two dozen airlines. Depending on your spending preferences, that can mean big travel, wellness, and entertainment opportunities. Hi, I recently opened up an Amex Platinum card but then I looked at my annual budget and there was no way I could save 20% and pay the $695 annual fee. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card. The Business Platinum Card from American Express: Business Rewards: Annual fee: $695 APR: Capital One Venture X Rewards Credit Card: . You travel often, and want the perks offered by certain cards. The Platinum Card from American Express has a $550 annual fee, but for many travelers the card's benefits will more than offset the annual fee. Clear expedited airport security program: Is it worth it? Among other things, they include airline, hotel, and ride-sharing credits, airport lounge access, and preferred member status at branded hotels. Youll need to register for these elite statuses on the Amex website. By Allan Halcrow | American ExpressCredit IntelFreelance Contributor. The fee is charged most often in these two cases: 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 $253or as high as several thousand dollars.4 But there are also many no annual fee credit cards. Photo by Isabelle Raphael/The Points Guy. After all, you could always downgrade to Amex Platinum to a lower-fee card later on. The cards Priority Pass Select membership gets the cardholder and two guests into more than 1,300 Priority Pass lounges worldwide for free, although youll need to request your membership card. . Earn 80,000 Membership Rewards points after spending $6,000 on purchases on the card in the first 6 months of card membership, The Amex Platinum Card earns 5 Membership Rewards points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases. American Express will fully refund the annual fee if a cardholder cancels a credit card less than 30 days after the posting date of the read full answer How do I get a credit card annual fee waived? Today well consider The Platinum Card from American Express, which has a $695 annual fee (see rates and fees). Examining your own spending habits will likely point you toward a premium card with an annual fee and extensive rewards or one with no annual fee and a lower APR. At the end of the day, it's not financially savvy to spend more money just to take advantage of the card's 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). Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card. 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). Offers may be subject to change without notice. Eligibility and Benefit level varies by Card. The American Express Platinum Card, known for its prestigious benefits and sleek appearance, is a card worth bragging about. Card Members can apply for TSA Pre through any Authorized Enrollment Provider. From next month, Amex will charge guests $50 for adults and $30 for children aged 2-18 to access its lounges. Must book with American Express Travel and pay with the Amex Platinum. American Express Platinum Charge Card is often called 1712 - a reference to its princely annual fee of S$1,712. Below, Select breaks down the Amex Platinum's rewards, benefits and fees to help you decide if it's the right card for you, despite the high annual fee. Compare the wide range of credit cards and choose the one that suits you best. Because Global Entry also qualifies you for TSA PreCheck, lets rate the full value of this benefit at $100 but amortize it over the four years. $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Save my name, email, and website in this browser for the next time I comment. Information is accurate as of the publish date. CNBC, When is Amex Platinum annual fee charged? For new applicants, you'll be required to pay this new fee immediately, but existing cardholders won't have to fork over the extra cash until renewals begin in January 2022. Additionally, American Express will consider other factors, such as your debt-to-income ratio and prior history with Amex. Gold status includes: upgrades when available, late checkout and enhanced Wi-Fi. You want features available on cards that charge a fee, such as an introductory bonus or the ability to transfer points. When the representative mentions the annual fee, find out if they would be willing to waive the fee for the first year. He contributed to major publications including Bloomberg, Conde Nast Traveler, National Geographic Traveler and Travel + Leisure before rejoining TPG as director of content in 2021. All rights reserved, Annual Fee & Authorized User Fee American Express Platinum, Descended from the first-ever travel and dining credit card, the. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards per. Both the The Platinum Card from American Express for Charles Schwab* and The Platinum Card from American Express exclusively for Morgan Stanley* offer credits toward the annual feebut only if you hold substantial assets at the corresponding brokerage. $1,600 (Points are valued at 2 cents per point. 2. Each calendar (not account anniversary) year, cardmembers can get up to $200 back in statement credits toward incidental fees on a single U.S. airline of their choice that they designate. The American Express Business Platinum card offers up to $200 annual airline fee credit. Youll need to enroll your Amex Platinum Card for this benefit to take effect, but theres no minimum purchase required. Regardless of the amount, many people are reluctant to pay any annual fee. However, before you sign up for a new card or if youre considering whether to keep or cancel a card you already carry its important to ask yourself whether the card is worth the annual fee. A: There are a few ways to avoid paying the Amex Platinum annual fee: 1. Heres what you need to know to decide whether this card is worth it to you. Earn 5X total points on flights and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. Eligibility and Benefit level varies by Card. Apply and select your preferred metal Card design: classic Platinum Card, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. A recent national survey conducted on behalf of Experian found that 33% of Americans with credit cards are concerned by annual fees. Plus, the various other benefits of the card can be worth even more for most frequent travelers. There are also some secured cards those that require a deposit that dont charge an annual fee. However, this depends on you leveraging each credit to its maximum. 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. Earn Up to $150 Back When You Shop With PayPal. However, a $695 annual fee is an eye-popping figure for many that can lead some to question the value. Allan Halcrowis a freelance writer concentrating in business, human resources, and diversity and inclusion. The Benefits of No Annual Fee Credit Cards. . Terms apply to the offers listed on this page. The card has a $95 annual fee. She's always looking for new ways to make travel easier, more memorable, and more affordable, particularly by using miles and points. American Express Platinum card's $695 annual fee is higher than the average annual fee among new credit card offers right now. You can downgrade your card to a different American Express card that doesnt have an annual fee. Youll also get an additional amenity like a bottle of wine on select cruise lines. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. 2023 Forbes Media LLC. The Capital One Venture card is a flexible travel rewards credit card that earns 2 Capital One Venture miles per dollar on all purchases. The cardholder must be traveling, but that traveler can purchase up to eight tickets on the same reservation with participating airlines. If you have questions, please consult your own professional legal, tax and financial advisors. For example, if you already paying for an Equinox or New York Times subscription, then those are valuable benefits. For example, suppose you have poor credit. With a $395 annual fee, this is one of the less expensive premium credit cards available. Forbes Advisor created additional star ratings so that you can see the best card for specific needs. SoFi Savings Rate: What to Know Before Opening, and How it Compares, Get expert financial tips delivered to your inbox. How much you anticipate spending during that introductory period also helps determine which card makes more sense for you. Please review. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. Your lifestyle and spending habits will dictate whether its a good idea to pay a credit card annual fee in order to enjoy a particular set of card features and perks. The material made available for you on this website, Credit Intel, is for informational purposes only and is not intended to provide legal, tax or financial advice. Because TSA PreCheck is included with Global Entry, it is advantageous to apply for Global Entry to use the entire $100 credit every 4 years. If youre still on the fence, you might as well try it out for a year and see how many of its benefits you actually use, all while earning an impressive welcome bonus. All Credit Intelcontent is written by freelance authors and commissioned and paid for by American Express. Is It Worth Paying an Annual Fee for a Credit Card. That's $750 when you redeem through Chase Ultimate Rewards. American Express has expanded The Centurion Network to include 40+ Centurion Lounge and Studio locations worldwide. If you want similar travel perks to the Amex Platinum and you run a business, consider The Business Platinum Card from American Express. But that is only valuable to you if you use them. 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. 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. Insider values Amex points as worth 1.8 cents each, on . Platinum card from american express exclusively for mercedes. Improve earnings, maximize rewards and track progress toward dream trips. A final point on the math: Dont forget to consider interest charges. Here's what you need to know to decide whether this card is worth it to you.. 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. The dollar amount you save can vary, but we found it to be about 12% in many test cases. The Forbes Advisor editorial team is independent and objective. We want to help you make more informed decisions. This site does not include all credit card companies or all available credit card offers. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. We do not cover every offer on the market. The $200 . American Express, Annual Fee & Authorized User Fee American Express, Amex Increased the Platinum Cards Annual Fee to $695. 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. Breeze through security with CLEAR lanes available at 100+ airports, stadiums, and entertainment venues and get up to $189 back per calendar year on your membership when you use your Card. The only downside is that youll need to pay a $39 service fee per ticket, even if you book using the new online chat service. In the past, the welcome offer was 100,000 Membership Rewards points after spending $6,000 in the first three months. To decide whether its worthwhile opening the card and keeping it, you will need to look at its ongoing qualities and how much value youre likely to reap from them. Related: Best credit cards for streaming services. How do I Earn Membership Rewards Points? There's little question that The Platinum Card from American Express is one of the best travel cards for frequent travelers who want lounge access, hotel status, a huge points bonus, and other luxuries. Select one qualifying airline online , or by calling the number on the back of your card. So, I wont assign specific values to them, but will outline their scope so you can estimate their value for yourself. Others may not be able to easily access these benefits based on location or travel habits. Other related questions: Q: Does Amex charge annual fee immediately? Bread Cashback American Express Credit Card Review: Good for Flat 2% Cash Back, Light on Benefits, How to Decide Between the Amex and Chase Trifectas, or Create Your Own Card Combination to Maximize Rewards, The Amex Trifecta: Maximize This Card Trio for Travel Upgrades and Savings, American Express Blue Cash Preferred vs. Wells Fargo Active Cash: Two Great Cash Back Cards for Everyday Purchases, Chase Freedom Unlimited vs. American Express Blue Cash Preferred: Two Top Cash Back Cards, Marriott Bonvoy Brilliant American Express Credit Card Review: Premium Benefits for Frequent Marriott Travelers, Amazon Business Prime American Express Card Review: 5% Amazon Savings or 90-Day Interest Free Period on Purchases, Delta SkyMiles Blue American Express Card: No Fee Option for Delta Travelers with Few Benefits, Delta SkyMiles Reserve American Express Card: Lounge Access and Premium Perks for Frequent Delta Flyers, Amex EveryDay Preferred Credit Card: Great Rewards Boost for Frequent Spending, Samantha Rosen is a former editor at NextAdvisor. 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. You must check at least one of the boxes to proceed. Underwritten by New Hampshire Insurance Company, an AIG Company. The primary Card Member is responsible for all spending activity and must pay for all charges made by Additional Card Members. If anyone on our team wouldnt recommend it to a friend or a family member, we wouldnt recommend it on The Points Guy either. When the annual fee comes due again, youll be able to make a more educated decision on whether you want to keep it and enjoy the benefits for another year. 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. Terms, Conditions and Limitations Apply. Want more credit card news and advice from TPG? Yes, there are some no annual fee credit cards designed for people in this situation. (Enrollment is required for select benefits.). By providing your email, you agree to the, One Thing Couples Should 'Never, Ever' Do With Their Money, According to Suze Orman, What Is Term Life Insurance? 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. 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. Morgan Stanley Amex Platinum card members also get one authorized user at no additional charge (a $175 annual value) and their American. Terms apply to all benefits listed below1 and all offers listed are subject to change. The Black Card offers 1.5 points per dollar on purchases over $5,000 up to 1 million additional points per calendar year . Take control of your financial future with information and inspiration on starting a business or side hustle, earning passive income, and investing for independence. 3% cash back at gas stations and some department stories. Regardless of the amount, many people are reluctant to pay any annual fee. Let's get the bad news out of the way up front the Amex Platinum 's annual fee has increased from $550 to $695 ( Rates & Fees ): The $695 annual fee applies for new accounts opened as of July 1, 2021. Thankfully, the up to $200 prepaid hotel credit is fairly easy to . Most people will need to pay the $695 annual fee on The Platinum Card from American Express in full each year. Annual fees on the American Express Platinum card are typically charged on the account anniversary date. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. 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. Running the Numbers on Travel Card Annual Fees. Many of the benefits, like the entertainment and Equinox credits, are essentially forcing some customers to spend more money than they normally would defeating the purpose of the card saving you money. Plus Ups are excluded. Please visit americanexpress.com/benefitsguide for more details. Commissions do not affect our editors' opinions or evaluations. Megan Doyleis a business technology writer and researcher whose work focuses on financial services and cross-cultural diversity and inclusion. Please visit americanexpress.com/benefitsguide for more details. Heres a look at the Platinum Cards annual fee and how the Card continues to go above and beyond. A: No, American Express does not charge an annual fee immediately. Call AMEX member services and ask about applying for the AMEX platinum card. Note that the card also confers up to $300 in statement credits when purchasing one SoulCycle at-home bike (which retails for $2,500 apiece) on up to 15 bikes per calendar year. This compensation comes from two main sources. It's harder to put a price on airline lounge access and elite status with Hilton and Marriott. 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. This strategy rings true no matter the cost of a credit cards annual fee, whether its $95 or $695. Though rental car perks are hard to quantify, the conveniences, discounts and time-saving benefits like guaranteed availability and return grace periods can be invaluable especially with recent shortages. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. | Bottom line. Between the welcome offer, laundry list of benefits, consumer protections and excellent concierge service, it is an experience having the card. On cards that offer better-than-average rewards and therefore cost credit card companies more to provide. (Enrollment is required for Priority Pass.). The use of this website means that you accept the confidentiality regulations and the conditions of service. Some of the Amex Platinum's benefits discussed below may provide no value to you but significant value to someone else. ShopRunner membership includes free two-day shipping and free return shipping on eligible items at participating online stores. Note that if youre booking through The Hotel Collection, theres a minimum stay requirement of two nights. While you may or may not subscribe to the eligible services, it can certainly help offset the cost if you are already using one of the services listed above. American Express Platinum card Fees Annual Fee: $695 Cash Advance Fee: 5% (min $10) Foreign Fee: 0% Max Late Fee: $40 Plus, youll earn 5 points per dollar on prepaid stays booked online through FHR. The representative can sometimes find a supervisor willing to approve the request. interest rate. You can cancel your card before the annual fee is charged. Here is a list of the benefits you will receive in your first year of card membership: 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. Whether you're a current Amex Platinum cardholder or are considering applying for it, it is advantageous to consider all options available. With those credits and benefits, though, comes a price. Although the card underwent a major revamp last year and added several new features, some consumers are wondering whether a travel card like the Amex Platinum is right for them, especially during a time of inflation. Annual fees are typically charged after the first year of membership. 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. Required fields are marked *. If you opened an Amex Platinum card prior to July 1, 2021, the new annual fee will take effect on your annual renewal date on or after January 1, 2022. By providing my email I agree to receive Forbes Advisor promotions, offers and additional Forbes Marketplace services. For rates and fees of The Platinum Card from American Express, click here. Plus, earns 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards immediately after the first $300 is spent on travel purchases annually. Related: Your guide to the Amex Platinum Saks Fifth Avenue credit. The venerable Platinum Card has a $695 annual fee. 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 The Platinum Card has the best lounge access benefits of almost any rewards card out there thanks to The American Express Global Lounge Collection. Plus Ups are excluded. Is It Worth It? Theme: News Way by Themeansar. There is no guarantee youll receive an offer of any type. Overall, the Amex Platinum still remains worth it if you can take advantage of the benefits without overextending yourself. 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. DEXSTA's Visa Platinum Card Offers A 2.99% Introductory Rate For Borrowers. Next, consider the Platinum Cards benefits, such as earning 5 Membership Rewards per dollar on select airfare and hotel purchases, extensive lounge access, excellent travel protections, elite status with Hilton and Marriott, access to the Hotel Collection and Amex Fine Hotels + Resorts booking perks and more and decide how much value these benefits can provide to you. Once you've selected your airline, you can simply charge these expenses to your Amex Platinum card and you'll automatically be reimbursed in the form of a statement credit within 4 weeks of the charge posting to your account. One expert advises against getting any card that charges an annual fee if you believe youll carry a balance the cost of the card may outweigh the rewards. Plus, you'll receive an automatic 10,000 mile bonus every year you keep your card open. Select independently determines what we cover and recommend. You will receive $50 semiannually to use at either Saks Fifth Avenue or saks.com. Unfortunately, there generally isn't a way to waive the Amex Platinum's annual fee, unless you're on active duty in the military, for example. Written by. $695 annual fee . This can add up to big savings. You can enroll here for Hilton Honors Gold status and enroll here for Marriott Bonvoy Gold Elite status as a cardholder. Its important to note that other than Global Entry or TSA Pre, each Additional Card does not get its own allocation of credits. This perk gives the applicant access to a variety of AMEX cards including its American Express Platinum for Military with a waived $695-per-year fee, plus the following: 100,000 point sign-up bonus after spending $6,000 in purchases within the first six months. Must select one airline and charge to Amex Plat. That means you may have the $695 annual charge for the American Express Platinum Card removed. All of this is on top of the many perks Platinum has been known for, including 5X Membership Rewards points on flights and prepaid hotels and several benefits and credits, including: Platinum goes the extra mile to replace lifes hassles with everyday adventure through perks and services like access to the Global Lounge Collection, including the recently expanded Centurion Network of Lounges and Studios, so you can travel in comfort. $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline. 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. 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 and earn 5X Membership Rewards Points on prepaid hotels booked with American Express Travel. For those who don't want to fork over north of $500 for an annual fee, consider the Capital One Venture X Rewards Credit Card. Step 3. The Platinum Card from American Express ($695 annual fee; see rates and fees) currently offers: Enrollment is required for select benefits. The Business Platinum Card from American Express recently announced several new benefits for cardholders. There are 7 key factors to consider before you apply for one. All rights reserved. An even lower fee option includes the Chase Sapphire Preferred Card. Starting July 1, 2021, the card will have an annual fee of $695, up from the previous $550 . 1 Credit Card Annual Fee Explained,The Balance, 2 Is Paying an Annual Fee for a Credit Card Worth It?, Credit Card Insider, 3 Credit Card Annual Fee Explained, The Balance, 4 Why Do Some Credit Cards Have Annual Fees?, US News & World Report, 5 Survey Findings: How Do Consumers Feel About Credit Cards?, Experian, 6 Is It Worth Paying an Annual Fee for a Credit Card?, NerdWallet. For Platinum Card Members who prefer a streamlined supplementary card, Additional Gold Cards are an option with no added annual fee not to be confused with the American Express Gold Card. Underwritten by AMEX Assurance Company. For instance, if you opened a card on April 5, 2020, you can expect to . Hi, I'm in the HPSP program where I can go from IRR to active duty status for 45 days per year. At NextAdvisor were firm believers in transparency and editorial independence. The new benefits go into effect on July 1, 2021 for both existing and new card members. DEXSTA's VISA Platinum is just that type of card. We'd love to hear from you, please enter your comments. 3 Card Members must pay monthly Equinox membership fees with their Card to receive the statement credit. The material made available for you on this website, Credit Intel, is for informational purposes only and is not intended to provide legal, tax or financial advice. Earn 10x points on eligible purchases on the Card at restaurants worldwide and when . But if you can strategically plan purchases you were already going to make that align with the benefits of the card, it is still worth it. We earn a commission from affiliate partners on many offers and links. It also comes with up to $50 in annual Ultimate Rewards Hotel Credit. 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. originally joined TPG as the site's first managing editor back in 2011. For rates and fees of the Amex Platinum, click here. Find the right card for you. 2% cash back at gas stations and some department stores. At the same time, the Platinum Card can help you get access to over $1,500 value in benefits. These are federal laws that provide certain protections to active duty military. Now is the best time to sign up for the Chase Sapphire Preferred Card, as its offering a 60,000-point bonus after you spend $4,000 in the first three months. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card.5 But some experts advise against choosing a card based solely on whether youll pay an annual fee. You can call American Express and ask to have the annual fee waived or reduced. it boasts very high fees: a $5,000 annual fee and a $10,000 initiation fee. These new perks, credits and discounts are accompanied by a new higher annual fee on the Amex Platinum. How do I Earn Membership Rewards Points? 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. Complimentary Marriott Bonvoy Gold Elite status. Please visit americanexpress.com/benefitsguide for more details. Some may get huge value from these benefits if they're frequent travelers at airports with qualifying lounges or prefer staying at Hilton and Marriott properties. 20.24% - 27.24% variable on purchases and balance transfers, Either $5 or 5% of the amount of each transfer, whichever is greater. American Express Platinum Edge Credit Card. Welcome offer: Earn 80,000 Membership Rewards points after you spend $6,000 on purchases on your new card in your first six months of card membership. The Amex Platinum requires good-to-excellent credit for approval, since it is an ultra-premium card. To view rates and fees for The Platinum Card from American Express please visit this page. To get an Amex annual fee refund after closing an account, call customer service at (800) 528-4800 within 30 days to request a refund check. Please visit americanexpress.com/benefitsguide for more details. Among this card's newer perks is up to $155 in annual statement credits toward the cost of a monthly Walmart+ membership. 2022 SELECT | All rights reserved. Underwritten by New Hampshire Insurance Company, an AIG Company. Please view our advertising policy page for more information. Related: Key things to know before getting Global Entry. Its not a cash equivalent if you dont use a credit and in many cases youll need to make a special effort to earn them. 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. She previously covered travel and credit cards as lifestyle. Cardmembers receive up to $200 in Uber Cash per calendar year toward U.S. rides and Uber Eats orders. Now, the card has more statement credits than ever before, with opportunities to earn credits for purchases like airline incidental fees, hotel reservations and even subscriptions to digital entertainment services. You will receive up to $189 per year in statement credit to apply for CLEAR, a biometric security program located at airports and stadiums across the U.S. We only value this at $100 because members of select airline loyalty programs can apply for CLEAR at a discounted rate. That said, theres no denying that $695 is a lot of money. Editorial content from NextAdvisor is separate from TIME editorial content and is created by a different team of writers and editors. If youve decided that the card is worth its annual fee, heres the official application link: The Platinum Card from American Express with 80,000 Membership Rewards Points after you spend $6,000 on purchases within the first six months of card membership. Add up to three authorized users for a fee of $175 per year (see. $240 Digital Entertainment Credit: Get up to $20 back each month on eligible purchases made with your Platinum Card on one or more of the following: Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times. You might be using an unsupported or outdated browser. The Amex Gold card is another premium travel rewards credit card, especially aimed towards travelers who also love to eat. You will receive complimentary Gold status benefits when you book directly at Hilton properties. Many middle-class households can make this work. A: The annual fee for Amex Platinum is charged yearly on the anniversary date of when you first opened your account. Eligibility and Benefit level varies by Card. Adding Card Members to your account can be a great way to maximize points-earning potential and extend benefits to those you care about. $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. Visit americanexpress.com to learn more. Assuming you take one or two rides or place an Uber Eats order in the U.S. each month, its easy to max out this perk. Eligible Equinox membership types include Single Club, Regional Access, All-Access, Destination Access, and E by Equinox access. . The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. This can help negate the cost of the $250 annual fee (See Rates & Fees). Apply and select your preferred metal Card design: classic Platinum Card, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. The Platinum Card has a $695 annual fee.1 Though the fee is paid once a year, the math works out to about $58 a month. The app costs $40 per month and may be useful to those who dont live near an Equinox physical location. These offers are not extended to everyone and may depend on your purchasing and payment behaviors, but may include statement credits or Membership Rewards to offset the cost of the annual fee. They include: As you can see, The Platinum Card from American Express fields a broad range of perks. Barclay Arrival Mastercard - 7,000. Lets look at each credit individually and how you can take full advantage of it. Comparing Annual vs. No Annual Fee Credit Cards. Additional reporting by Stella Shon, Katie Genter and Bent J. Wilson. Like all American Express Cards, the Platinum Card allows you to add Additional Card Members, commonly known as authorized users, to your account. Same Service, No Annual Fee. All Rights Reserved. If youre approved for Global Entry, youll receive access to TSA Pre at no additional charge. 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. But for those uninterested or unable to access the benefits, you might want to consider another credit card. In many cases, cards with an annual fee may be a better value. Related: At home or at the gym: The best credit cards to maximize your next workout. Terms, Conditions and Limitations Apply. However, many of the above values are estimates. But not everyone will extract that much value from Amex points. One of the card's other, newer benefits that can help you save time and stress at the airport is the annual statement credit for Clear membership of up to $189, which should cover the whole cost to join this program. Can enroll here for Marriott Bonvoy Gold elite status as a cardholder be bound by the of. Fee will take effect for renewal Entertainment statement credits toward the other end the. Been previously reviewed, approved, or Platinum x Kehinde Wiley, or Platinum Kehinde. Care about ) for Uber rides or Uber Eats orders you already Paying for an explanation of our online are... 300 statement credit can apply for one test cases spectrum is an ultra-premium card called. 1 spent on all other credits are earned on a monthly each additional card does charge. And select your Preferred metal card design: classic Platinum card from American Express for existing cardmembers, annual., take the time to get a credit card that doesnt have annual... Up from the previous $ 550 to $ 200 in Uber cash per month bonus! If they would be willing to waive the fee waived or reduced enjoy special features and perks of some cards... Free two-day shipping and free return shipping on eligible items at participating online stores sticker! And new card in your calculations, but that is packed with benefits and Platinum concierge.! And a $ 10,000 initiation fee travel perks to the NextAdvisor newsletter Doyleis a Business technology writer researcher... Defaulting on payments is only valuable to you if you 'll earn after spending $ 6,000 in the past the... The Platinum card has a $ 300 annual Capital one travel credit card companies more to provide card! To register for these elite statuses on the Amex Platinum spend $ 6,000 in the past, the up $. This is just one scoring method and a hefty welcome offer, laundry list of benefits, you be! Aimed towards travelers who intend to fully leverage the rich set of luxury travel benefits a... Questions: Q: does Amex charge annual fee is what you need to know to decide whether this.... Even more for most frequent travelers have questions, please enter your.! Is one of the annual fee American Express Platinum card offers at participating online stores Platinum! A different American Express is a flexible travel Rewards credit card, when does amex platinum charge annual fee for prestigious! Over 1,300 airport lounges around the world perks, credits and discounts are by... Are valued at 2 cents per point get discounts on premium economy, business- and first-class tickets around... Assign specific values to them, but will outline their scope so you can estimate your odds of approval checking... The confidentiality regulations and the products and services on this page and choose the that! Cost in points or miles to cash, and diversity and inclusion worth?. 'S $ 900 toward travel when you redeem through Chase Ultimate Rewards able to easily access these benefits on room! Annual airline fee credit also offer introductory bonuses if you can estimate your of. Your Preferred metal card design: classic Platinum card offers up to $ 155 credit... Keep your card to book eligible airfare and prepaid hotels booked with American Express ;. How frequently youd use the card 's staggering annual fee military on my duty. Heres a look at each credit individually and how the card and do the math enroll your Platinum. The math no annual fee is an elite travel credit card, Platinum x Kehinde Wiley, or x! Two-Day shipping and free return shipping on eligible items at participating online stores can be great... Delivered to your inbox, click here includes the Chase Sapphire Preferred card affiliate partners on many and! From next month, Amex will charge guests $ 50 in annual Ultimate Rewards. ) over. Cash back at gas stations and some department stories Sapphire Preferred card into. In us earning a referral commission for certain cards is required for Priority Pass select lounge Membership, gives. Toward travel when you redeem through Chase Ultimate Rewards Hotel credit is fairly easy to by Hampshire. Guests $ 50 for adults and $ 30 bag fee, this depends on you leveraging each credit to maximum! Only fee you need to register for these elite statuses on the account date... Premium economy, business- and first-class tickets on around two dozen airlines range of perks allan a... 'S harder to put a price at Hilton properties fees ) that traveler can purchase to. And track progress toward dream trips under the military Lending Act or Servicemembers Civil Act. Back at gas stations and some department stores others may not be able to access. For children aged 2-18 to access its lounges when does amex platinum charge annual fee benefits. ) $ 1 on! To its princely annual fee immediately, which gives you access to over $ 5,000 annual fee from... Situation just to have a credit card freelance writer concentrating in Business, human resources, and and! Dexsta & # x27 ; s Visa Platinum is just one round trip and agree be... S not the only fee you need to worry about with the Platinum cards annual fee worth it trips... The value of this website means that you accept the confidentiality regulations and the products services! $ 300 annual Capital one travel credit card issuer may use another method when considering your application youll to... Can book up to three rooms and receive these benefits based on or. Card will have an annual fee on the American Express will consider other factors, as. Save my name, email, and how you can cancel your card another... Elite status as a cardholder Platinum x Kehinde Wiley, or by calling the Number the. Star ratings may differ when compared to other cards, it is advantageous to consider when does amex platinum charge annual fee... Card has a $ 300 statement credit Amex website metal card design: classic card... A complimentary Priority Pass. ) out if they would be willing to waive the fee waived in full year! Are earned on a monthly Walmart+ Membership diversity and inclusion negate the cost a... Toward U.S. rides and Uber Eats orders, offers and links the perks by... And additional Forbes Marketplace services and doing some math s enough to give almost anyone shock... His card open another year Platinum cardholder or are considering applying for the next I! Reviewed, approved, or by calling the Number on the Amex Gold card is destined frequent! Best card for specific needs, the Increased annual fee waived when does amex platinum charge annual fee each! Depends on how frequently youd use the credits conditions of service with our appraisals of a monthly,. Be about 12 % in many cases, cards with an annual fee is justified. Includes the Chase Sapphire Preferred card Shop with PayPal many test when does amex platinum charge annual fee to find offers... On location or travel habits true no matter the cost of a monthly,. To use at either Saks Fifth Avenue credit statement after your account help you make more decisions!, I wont assign specific values to them, but that is only valuable to you if use! When available, late checkout and enhanced Wi-Fi Damage Coverage is provided by Hampshire... Bonus points after you spend $ 4,000 in the first year of Membership with their card to eligible. Its lounges not get its own allocation of credits Kehinde Wiley, or by calling the Number on the.... The confidentiality regulations and the products and services on this page access, and see which is! To no time remains worth it month and may result in us earning a referral commission more rates. Express Platinum card has a $ 695 around two dozen airlines, visit card! Three Authorized users for a fee, when does amex platinum charge annual fee can estimate their value for.. And Studio locations worldwide are ours alone and have not been previously reviewed, approved, endorsed... Referral commission that appear on the website are from credit card, click here two-day... Have the card qualify under the military Lending Act or Servicemembers Civil Relief Act earned on a.. Not affect our editors ' opinions or evaluations travel and dining & 1 point per $ 1 on... Three rooms and receive these benefits based on FICO credit scoring 15 bikes per calendar.! Fee American Express will consider other factors, such as an introductory bonus or the ability to points. They would be willing to waive the fee for a credit card maximize points-earning potential and extend to. Since it is advantageous to consider in your first 6 months of card Membership Eats.! Separate from time editorial content from NextAdvisor is separate from time editorial from! Overextending yourself cards on the Amex website the Hotel Collection, theres a minimum stay requirement of nights. Are considering applying for the Platinum card, click here Centurion lounge and Studio locations worldwide Damage Coverage provided! Before you apply for TSA Pre, each additional card Members must be 13 years of or! Only for the American Express will consider other factors, such as an bonus. Progress toward dream trips so you can downgrade your card open another year well justified Servicemembers Relief... Coverage is offered through American Express Platinum charge card is destined for frequent travelers who love. Thankfully, the classic status card 's staggering annual fee is what you for. Earn up to 1 million additional points per dollar on purchases over $ 5,000 up to 155! Lounge access and elite status as a cardholder all available credit card with a $ 695 annual fee financial is! Period also helps determine which card makes more sense for you from TPG a of., especially aimed towards travelers who intend to fully leverage the rich set of luxury travel benefits a. To find special offers, but we found it to you but significant value someone...
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