I have been contemplating applying for the American Express Platinum Card. Its annual fee is a whopping $699, but my question has been whether it is really worth getting it.
Here are some of the benefits of the American Express Platinum Card
- A sign-up bonus of 50,000, when you make purchases to a minimum of $1,000 within the first three months. You can convert the 50,000 points at a rate of 1×1 to Aeroplan of Air Canada or Avios of British Airways. With Aeroplan, this will be enough to take you anywhere in North and Central America while 50,000 Avios is enough for a trip to England. Taxes are extra for both plans.
- Points can also be transferred to hotels programs such Hilton’s HHonors and Startwood Preferred Guest.
- A $200 travel credit annually. This can only be redeemed through the Platinum Travel Card. Because this can be used on a calendar year basis, if you apply the card now, you can use it now, and then sometime between Jan. 2014 and the expiration of your first year.
- 1.25 Miles for every $1 charged to the card
- Access to the Canadian Platinum Lounge for card member, spouse, a guest and a maximum of two children under 21.
- Access to Airport Club Program
- Access to Cathay Pacific Business Class Lounges
- Access to Oneworld Alliance Airlines Business Class Lounges
- Complimentary and discounted companion tickets and upgrades
- Lodging benefits at member hotels
Comments
For the first year, this is a worthwhile investment, as the bonus sign-up points alone is worth more than $500. Added to this is the $200 travel credit.
Thereafter, the major benefit is the $200 even if its advantages are somewhat restricted by the fact one has to use it through American Express.
But unless I travel frequently, and need to use the lounge often, this card does not work for me.
