Searching for a platinum-level credit card that offers tons of benefits and tons of bonus points? The American Express Platinum Card currently offers 150,000 extra Membership Rewards points.
When you submit an online application, get granted access, and make $5,000 in eligible purchases with your new Card within the first three months, you will receive the 150,000 bonus Membership Rewards points. Applying T&Cs. Just new cardholders. Together with elite status with top hotel chains and a $450 travel credit each membership year, you’ll also get a $400 global dining credit each year and complete travel insurance.
As if that weren’t enough, there is also a free membership to Accor Plus, which is worth $399 and includes a free hotel night per year. Additionally, a Premium subscription grants you access to The Australian online. Discover the main Card advantages by reading on, or go to the American Express website for more details and a safe, mobile-friendly application form.
Card Key Features:
Category: Frequent Flyer & Travel Credit Cards and Rewards Credit Cards
Card Type: American Express
Benefits: Complimentary Travel Insurance, Sign-Up Bonus Points Offer, and Travel Credit.
Minimum Income: $100,000
Additional Cardholders: 4
Additional Cardholder Fee: $0 p.a.
Minimum Repayments: 100%
Rewards Program: American Express Membership Rewards
Points Earn Rate: 2.25 points per $1
Points Conditions:
- 2.25 points per $1 spent on all purchases except government bodies in Australia
- 1 point per $1 spent with government bodies in Australia
- There is no cap on the earn rate.
Contactless Payments: Apple Pay, Fitbit Pay, Google Pay, and Samsung Pay
Late Payment Fee: $6
Annual Fee: $1,450 p.a.
Foreign Transaction Fee: 3%
Overseas ATM Withdrawal Fee: $1.25
Interest-Free Period: 44 day
Pros:
- When you apply online, are accepted, and spend $5,000 with your new card within the first three months, you will receive 150,000 Bonus Membership Rewards Points. Just new American Express Cardholders.
- Get up to 2.25 points for every $1 spent on purchases, excluding those from government agencies, where you’ll only get 1 point for every $1 spent.
- Unrestricted earning rate.
- Twice a year, you can receive a $75 credit from NET-A-PORTER, good for up to $150 in lifestyle, home goods, and designer brand purchases. One $75 credit is allotted for each distinct half-year period. Initial enrollment is necessary. The deal expires on December 31, 2023.
- Australian Premium membership.
- Take advantage of the many advantages offered by Langton, such as access to their famous brokerage service and a $50 welcome voucher.
- International and domestic travel insurance is free (including limited cover related to COVID-19 coverage, T&Cs apply).
- Free shopping insurance covers such as Card Purchase Cover, Buyer’s Advantage Insurance, Card Refund Cover, and more.
- Use your American Express Platinum Charge Card to pay for your monthly or yearly Amazon Prime subscription and get a benefit cap of up to $84 every calendar year. The benefit is accessible till December 31, 2025.
- Each year, members receive a $450 Platinum Travel Credit that can be used to purchase qualified lodging, transportation, or both (beginning on May 1, 2023, reservations must be made through American Express Travel Online with a $450 minimum).
- When you eat at more than 1,400 carefully chosen participating restaurants both domestically and internationally, you can receive up to $400 in Global Dining Credit annually. Applying T&Cs. The promotion runs through December 31, 2024.
- Access to more than 1,400 airport lounges, including The Centurion® Lounge, Escape Lounges—The Centurion® Studio Partner, Priority PassTM Lounges, and others—for you and a guest, in more than 650 cities and 140 countries.
- Convert your points to any of the 10 main Airline Reward Partner programs and two hotel partner programs.
Cons:
- The annual price, but you’ll get your money’s worth if you use it wisely.
- This is a charge card therefore you need to pay off your balance in full.
Benefits and perks
Valuable travel benefits
American Express recognizes that their Platinum cardholders are frequent travelers and offer a wide range of travel and entertainment benefits. These include:
- An annual $450 Platinum Travel Credit, which can be used for the airline, car rental, and hotel bookings for themselves or anyone they choose.
- Access to over 1,400 lounges worldwide, including Centurion, Priority Pass, American Express, Virgin Australia, Delta Sky Club, and Plaza Premium airport lounges for the primary cardholder, and in most cases, one supplementary cardholder and one or more guests.
- Automatic enrollment in the elite tiers of Radisson, Marriott, and Hilton hotels.
- Access to the Fine Hotel & Resorts program, providing upgrades, complimentary benefits, and preferential treatment at luxury hotels worldwide when booked through the Platinum Travel Service, estimated to be worth over $800 per year.
- Complimentary access to Accor Plus membership, valued at $399 per year, for over 1,100 hotels in the Asia-Pacific region.
- Membership of the Platinum International Airline Program, offering up to a 20% discount on first and business-class fares with leading airlines.
- Access to the Platinum Concierge Service and American Express Experiences, providing recommendations, bookings, and exclusive discounts and privileges at restaurants, entertainment, and sporting events. This includes access to events and experiences not generally available, such as special wine dinners, drive days, fashion shows, theatrical previews, VIP functions, and major sporting events.
- Complimentary worldwide travel and shopper insurance.
In summary, American Express Platinum cardholders have access to a wide range of valuable travel benefits, from lounge access to hotel upgrades and discounts on airfare, making it an attractive option for frequent travelers.
Excellent rewards program with a ton of bonus point potential.
The American Express Ascent Premium Membership Rewards program membership, the highest level offered for an Amex personal card, is one of the best features of this card.
Also, you will receive a very high amount of bonus points if you meet an easily attainable spending goal in the first three months of card ownership. For those who are new to Amex, it would be a terrific way to start earning points. You could even redeem your points early for a pricey item.
If you’ve had an Amex card in the last 18 months, you won’t be eligible for the bonus points.
A charge card, not a credit card
There are no interest rates or balance transfer possibilities because this is not a credit card. Because there is no option for a minimum payment, there is no effective interest rate. Don’t choose this card unless you are prepared and willing to pay the full balance of your monthly purchases from the card each month.
But, due to the monthly billing cycle, you will really receive up to 44 days of interest-free credit each month. You can add up to four extra cardholders to your account without incurring any additional annual fees.
Who is it useful for?
The $1,200 annual fee and $100,000 minimum income criterion of the Platinum Charge card, which places a strong emphasis on premium and lifestyle spending like travel and dining, place it firmly in the hands of the wealthy.
Charge cards differ from credit cards in that you must make a complete monthly payment or you will be in arrears. The good news is that you won’t have to worry about having space on the card held up by those annoying hotel pre-authorizations that happen every time you obtain your room key because there isn’t a pre-set spending limit to get in the way of your plans (within reason).
Still want credit? Also, an American Express Platinum Reserve credit card is made available to you, providing you with all the advantages of a premium credit card, including an additional $400 in travel credits.
Is there any competition?
This card is really in a class of its own because of the high rewards earning rate, the freedom to transfer to other reward schemes (including, particularly, Qantas Frequent Flyer), and the very excellent complementary travel, insurance, and other advantages.
But if the exorbitant annual fee is simply too much for you, you could look at other high-income cards like the NAB Qantas Rewards Signature Card, the Westpac Altitude Black Credit Card, or the St. George Amplify Signature Credit Card, all of which have fewer perks but noticeably lower annual fees. All of these cards are available to people with high incomes.
Conclusion
The American Express Platinum Card is the best credit card for regular travelers who make large purchases and want to receive substantial rewards. With a high earn rate and a variety of redemption choices, the card lets you transfer points to a number of well-known frequent flyer programs.
The American Express Platinum Card isn’t for everyone because of its hefty annual fee.
Yet, there is a lot of opportunity to get the most out of the perks that are already included if you use them, which might easily help you recoup the cost of owning the card.
If you apply online, are accepted, and make $5,000 in eligible purchases with your new Card within the first three months, don’t pass up the chance to earn 150,000 American Express Membership Rewards Points. Applying T&Cs. Just new cardholders.
You should spend less than ten minutes completing the safe, mobile-friendly application form, and Amex will respond to you in about five to ten business days. Know more about the card here.