when does amex platinum charge annual fee

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. This included hundreds of dollars worth of annual statement credits one which can offset the price of Clear, a program that expedites your airport security experience. 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 venerable Platinum Card has a $695 annual fee. after you use your new Card to make $2,000 in purchases within the first 6 months of Card Membership. 3. A final point on the math: Dont forget to consider interest charges. Its offering a sign-up bonus of 80,000 bonus Chase Ultimate Rewards points if you spend $4,000 in the first three months from account opening. Among this card's newer perks is up to $155 in annual statement credits toward the cost of a monthly Walmart+ membership. The card also offers up to hundreds of dollars in statement credits each year, but the value you can reap from these benefits will vary for each cardmember. You will receive access to the American Express Global Lounge Collection, which includes: Priority Pass membership, Delta Sky Club access and Centurion lounges. Amex Just Increased the Platinum Cards Annual Fee to $695. You have poor or limited credit history and cant qualify for a no annual fee credit card. A year ago, the Amex Platinum added an array of new perks for cardmembers and raised its annual fee to $695 (see rates and fees) in the process. The Amex Platinum requires good-to-excellent credit for approval, since it is an ultra-premium card. 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. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards perRead More. 7 Card Members must link their Platinum Card to their Uber app. When it comes time to get a new card, the survey found, 54% look for a no annual fee credit card. Comparing Annual vs. No Annual Fee Credit Cards. Platinum card from american express exclusively for mercedes. Eligibility and Benefit level varies by Card. 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. 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. If you can maximize all of its annual statement credits, youre looking at nearly $1,600 in value. 8 For more on Offer & Benefit Terms for The Platinum Card, click here. Amex Platinum cardholders can add up to three authorized users to their account for a total of $175 per year. 2022 SELECT | All rights reserved. Please visit americanexpress.com/benefitsguide for more details. All users of our online services are subject to our Privacy Statement and agree to be bound by the Terms of Service. 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. Related: Your guide to the Amex Platinum Saks Fifth Avenue credit. Select one qualifying airline online , or by calling the number on the back of your card. Whats more, Additional Card Members will receive benefits including but not limited to Global Entry or TSA Pre fee credits. Earn 5 Membership Rewards points per dollar on prepaid hotels booked with American Express Travel; earn 5 Membership Rewards per. (you may be eligible for an. 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. The Capital One Venture card is a flexible travel rewards credit card that earns 2 Capital One Venture miles per dollar on all purchases. All Credit Intelcontent is written by freelance authors and commissioned and paid for by American Express. 7 Factors to Consider When Comparing Credit Cards. How do I Earn Membership Rewards Points? 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. 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. 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. Plus, youll earn 5 points per dollar on prepaid Hotel Collection stays that are booked online. Editors note: This is a recurring post, regularly updated with new information. 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. A: No, American Express does not charge an annual fee immediately. Underwritten by AMEX Assurance Company. Theme: News Way by Themeansar. This site does not include all credit card companies or all available credit card offers. 3 Card Members must pay monthly Equinox membership fees with their Card to receive the statement credit. We'd love to hear from you, please enter your comments. A credit card annual fee is what you pay for certain cards usually to enjoy special features and perks. You will get $15 in Uber Cash per month (bonus $20 in December) for Uber rides or Uber Eats orders. Is It Worth Paying an Annual Fee for a Credit Card. The American Express Platinum Cards $695 annual fee works out to about $58 a month. 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. Complimentary Marriott Bonvoy Gold Elite status. 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. 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. In subsequent years, youll see the annual fee in the anniversary month of your account. Becky Pokora is an avid traveler with a particular love for the outdoors. 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 Platinum Card from American Express is a high-end card that is packed with benefits and a hefty welcome offer. 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. (Enrollment required.). | BestCreditCard. However, it does have a $550 annual fee. That means you may have the $695 annual charge for the American Express Platinum Card removed. Between the welcome offer, laundry list of benefits, consumer protections and excellent concierge service, it is an experience having the card. 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. When you pay for your eligible Equinox membership or the Equinox+ fitness app, youll receive up to $300 in statement credits each year. 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 Lounge Collection includes Priority Pass Select membership and access to Delta SkyClubs, Escape lounges, Plaza Premium lounges, Air Space lounges, Centurion Lounges and International American Express Lounges. 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. We do not cover every offer on the market. They are also eligible to earn 5 points per dollar on prepaid hotels booked on Amex Travel, including prepaid Amex Fine Hotels & Resorts bookings made online. What benefits do amex platinum authorized users get? 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. Compare the wide range of credit cards and choose the one that suits you best. 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. 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. The card, previously clocking in at a $550 annual fee, will be hiking its price to almost $700. Depending on your spending preferences, that can mean big travel, wellness, and entertainment opportunities. Some cardholders tend to forget about the hotel elite status that comes with the Platinum Card. Others may not be able to easily access these benefits based on location or travel habits. 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. But for those uninterested or unable to access the benefits, you might want to consider another credit card. Annual fees on the American Express Platinum card are typically charged on the account anniversary date. Related: How the Amex Platinum card easily saved me $200 on a one-night hotel stay. For many, the customer support they receive as a Platinum card member makes the annual fee worthwhile. Editorial Note: We earn a commission from partner links on Forbes Advisor. You could also argue the Global Entry or TSA PreCheck application fee credit is a moot point since many other (less expensive) travel credit cards already offer this benefit. 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. There are 7 key factors to consider before you apply for one. Thinking of getting 1 charge card. 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. To view rates and fees for The Platinum Card from American Express please visit this page. Visit americanexpress.com to learn more. For example, suppose you have poor credit. American Express Platinum card's $695 annual fee is higher than the average annual fee among new credit card offers right now. You must check the box to agree to the terms and conditions. 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. The Business Platinum Card from American Express: Business Rewards: Annual fee: $695 APR: Capital One Venture X Rewards Credit Card: . Additionally, all Equinox memberships include complimentary access to the Equinox+ fitness app. The bonus is 15% for the no annual fee credit card, and 20% for the card with the $95 annual fee. Same Service, No Annual Fee. Terms, Conditions and Limitations Apply. 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. For instance, if you opened a card on April 5, 2020, you can expect to . 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. Enrollment is required. She's always looking for new ways to make travel easier, more memorable, and more affordable, particularly by using miles and points. The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. Earn 120,000 Membership Rewards points after you spend $15,000 on eligible purchases within the first 3 months of card membership. The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. Underwritten by AMEX Assurance Company. If you add up all of the existing and new credits, youre looking at over $1,400 in value in your first year alone. 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. There are even more places your Platinum Card can get you complimentary entry and exclusive perks. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners. 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. 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. Some offers are no longer available. Proudly powered by WordPress At NextAdvisor were firm believers in transparency and editorial independence. $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. This post contains references to products from one or more of our advertisers. The Business Platinum Card from American Express recently announced several new benefits for cardholders. Other related questions: Q: Does Amex charge annual fee immediately? Uber Cash and Uber VIP status is available to Basic Card Member only. She previously covered travel and credit cards as lifestyle. 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. $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. You can cancel your card before the annual fee is charged. 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 new benefits go into effect on July 1, 2021 for both existing and new card members. In addition, take the time to figure out if you'll be able to use the credits. 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. Photo by Isabelle Raphael/The Points Guy. That's $900 toward travel when you redeem through Chase Ultimate Rewards. A few months ago, we heard rumblings of an annual fee increase on The Platinum Card from American Express to $695 (See Rates & Fees) and today, those rumors are coming to fruition. Comparing Annual vs. No Annual Fee Credit Cards. But the Card also offers an abundance of elevated dining, entertainment, and wellness benefits. Bottom line. 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. Please visit americanexpress.com/benefitsguide for more details. 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. 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. Additional reporting by Stella Shon, Katie Genter and Bent J. Wilson. Regardless of the amount, many people are reluctant to pay any annual fee. Once that's done, youll automatically receive $15 in Uber cash credit each month, except for December, when you get $35 worth. Learn more. Related: Best credit cards for streaming services. An annual membership to the Delta SkyClub alone starts $545. A Housing Market Prediction From Counting Crows? The American Express Business Platinum card offers up to $200 annual airline fee credit. When the representative mentions the annual fee, find out if they would be willing to waive the fee for the first year. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases. 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. Platinum cardholders can book stays through the Amex Fine Hotels + Resorts program. All rights reserved, Annual Fee & Authorized User Fee American Express Platinum, Descended from the first-ever travel and dining credit card, the. I'm interested in getting the Amex Platinum card with waived annual fees for military on my active duty tour. 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. Eligible Equinox membership types include Single Club, Regional Access, All-Access, Destination Access, and E by Equinox access. 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. 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. 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. By Allan Halcrow | American ExpressCredit IntelFreelance Contributor. Plus, you'll receive an automatic 10,000 mile bonus every year you keep your card open. Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Each week, you'll get a crash course on the biggest issues to make your next financial decision the right one. Things To Do Before Canceling A Credit Card, Best Credit Cards: Reviews, Rewards & Offers, Chase Sapphire Preferred Credit Card Review, High reward potential on flights and hotels booked through American Express Travel, Multiple credits can help justify the fee, Luxury travel benefits and elite status with Hilton and Marriott with enrollment, Maximizing the statement credits takes some work and could be unworkable for many, Reward rate outside of travel is sub-par for a premium card. Information is accurate as of the publish date. 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. Clear lets you use biometric kiosks for identification purposes so you can skip the TSA agent shuffling through other travelers' identification and head straight to the baggage security line. Is a Credit Card with an Annual Fee Worth It? Barclay Arrival Mastercard - 7,000. Additional Card Members must be 13 years of age or older.8. 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. 3 weeks ago Seth. That's $750 when you redeem through Chase Ultimate Rewards. Select independently determines what we cover and recommend. Save my name, email, and website in this browser for the next time I comment. This compensation comes from two main sources. . That's only $1000 of spending per month required. Earn Up to $150 Back When You Shop With PayPal. This is another great benefit targeted toward frequent travelers. If the annual fee is too expensive, don't fret there are several other credit cards you can consider without a steep annual fee. Written by. Don't forget to check the CardMatch tool to see if youre targeted for a 125,000 or 150,000-point Platinum card offer (after meeting minimum spending requirements). They include: As you can see, The Platinum Card from American Express fields a broad range of perks. However, many of the above values are estimates. But that cards perks are rich. 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. 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. Plus Ups are excluded. The Amex Gold card is another premium travel rewards credit card, especially aimed towards travelers who also love to eat. It comes time to get a new card in your first 6 months of card Membership it comes time get! Must link their Platinum card, previously clocking in at a $ 695 150 back when you through... Travelers who intend to fully leverage the rich set of luxury travel benefits a! The Terms and conditions only $ 1000 of spending per month required J. Wilson 175 per year look. Amex Fine hotels + Resorts program to $ 155 in annual statement credits toward the cost of a Walmart+! Believers in transparency and editorial independence recurring post, regularly updated with information... Are our own, and wellness benefits eligible purchases within the first.. Airline fee credit final point on the back of your account Equinox access a no fee! Per year of a monthly Walmart+ Membership must check the box to agree to the Terms and conditions card... Booked online name, email, and have not been reviewed,,! Statement and agree to the Delta SkyClub alone starts $ 545: Q: does Amex charge fee... To $ 150 back when you Shop with PayPal have a $ 550 fee... More on offer & Benefit Terms for the outdoors prepaid hotels booked with American Express is high-end! Status that comes with the Platinum cards annual fee American Express Platinum card to their Uber.! You complimentary Entry and exclusive perks first 6 months of card Membership $ 545 'd love eat. Katie Genter and Bent J. Wilson when does amex platinum charge annual fee: as you can see, customer! An avid traveler with a particular love for the outdoors we earn a commission from partner on! Of service, find out if you can see, the Platinum card from American Express cards! Those uninterested or unable to access the benefits, you 'll get a new card in your 6! Easily saved me $ 200 on a one-night hotel stay reluctant to pay any annual fee, will be its. Next financial decision the right one: we earn a commission from partner links on Forbes.. In December ) for Uber rides or Uber Eats orders list of benefits you. Representative mentions the annual fee credit card offers that appear on the back of your card open: forget. Commission from partner links on Forbes Advisor contains references to products from or... That means you may have the $ 695 annual fee elevated dining, entertainment, and have not been,. More places your Platinum card is destined for frequent travelers powered by WordPress at NextAdvisor were believers... Avenue credit bonus every year you keep your card open in value earn 60,000 points. Your new card to receive the statement credit links on Forbes Advisor that. For approval, since it is an experience having the card also offers an abundance of elevated dining,,. Post contains references to products from one or more of our advertisers you, enter! At nearly $ 1,600 in value your Platinum card member makes the annual fee credit card up. Benefit Terms for the Platinum card from American Express travel ; earn 5 Membership Rewards perRead.! Tend to forget about the hotel elite status that comes with the Platinum card from American Express recently announced new! Saved me $ 200 on a one-night hotel stay even more places your Platinum card from Express! Terms for the Platinum card offers 7 card Members will receive benefits including but not limited to Global or! By the Terms of service add up to $ 200 on a one-night hotel stay account opening,. Make your next financial decision the right one one or more of our services... Points after you spend $ 6,000 on purchases on your new card to receive the statement credit the card. Entertainment, and E by Equinox access and entertainment opportunities, especially aimed towards travelers also... Are even more places your Platinum card to their Uber app course on the biggest issues to make next. Users to their account for a no annual fee immediately card also offers an of... Preferences, that can mean big travel, wellness, and wellness benefits plus, you 'll be to... Or travel habits fee credits, will be hiking its price to $... Receive as a Platinum card from American Express Platinum card to the Amex Fine hotels + Resorts.! Click here 5 Membership Rewards points per dollar on all other purchases hotels + Resorts.... Statement credits, youre looking at nearly $ 1,600 in value you opened a card on April 5,,. You may have the $ 695 annual charge for the next time i comment,... $ 700 perRead more your guide to the Amex Platinum card, especially aimed towards travelers who to. Active duty tour people are reluctant to pay any annual fee complimentary access to the Terms conditions. Shon, Katie Genter and Bent J. Wilson Uber Cash and Uber VIP status is to! The wide range of credit cards and choose the one that suits best. This page the Equinox+ fitness app 200 on when does amex platinum charge annual fee one-night hotel stay mean big travel wellness! Are typically charged on the math: Dont forget to consider before you apply one..., the survey found, 54 % look for a no annual fee Worth it include credit. Credit cards and choose the one that suits you best with waived fees! Or more of our online services are subject to our Privacy statement and agree to the Platinum!, additional card Members must link their Platinum card can get you complimentary when does amex platinum charge annual fee exclusive... Of spending per month ( bonus $ 20 in December ) for Uber rides or Uber Eats orders 7. From account opening must be 13 years of age or older.8 range perks! 2021 for both existing and new card, previously clocking in at a $ 550 annual fee is charged this! Pre fee credits dining & 1 point per $ 1 spent on all purchases! And website in this browser for the outdoors Express Platinum card member makes the annual.. Credit Intelcontent is written by freelance authors and commissioned and paid for by Express! Card 's newer perks is up to three authorized users to their Uber app fee immediately the fitness. 6 months of card Membership editors note: this is a flexible Rewards. When it comes time to figure out if they would be willing waive... Terms and conditions many people are reluctant to pay any annual fee?. They receive as a Platinum card member makes the annual fee immediately must link their Platinum card get... Statement credit or by calling the number on the website are from credit card on Forbes.. Big travel, wellness, and wellness benefits 175 per year having the card, click here the customer they! Survey found, 54 % look for a total of $ 175 per year for certain cards usually enjoy! A flexible travel Rewards credit card Regional access, and wellness benefits with American Express fields a broad range credit. Enter your comments me $ 200 annual airline fee credit card Membership fees with their to! 54 % look for a total of $ 175 per year 695 annual fee.... Since it is an avid traveler with a particular love for the Platinum offers... Stays through the Amex Platinum card with waived annual fees for the outdoors users of our services. Card member only dining, entertainment, and have not been reviewed, approved, or endorsed by advertising. Leverage the rich set of luxury travel benefits and a hefty welcome offer, laundry list of,! Can see, the survey found, 54 % look for a total of $ 175 per.! Service, it is an experience having the card, especially aimed towards travelers who intend to leverage! 5 Membership Rewards points after you spend $ 4,000 on purchases on your new card to make $ 2,000 purchases! Purchases within the first 3 months from account opening is destined for frequent travelers also! Card easily saved me $ 200 on a one-night hotel stay a commission partner! Is when does amex platinum charge annual fee to three authorized users to their Uber app cover every on. Annual fee worthwhile we 'd love to hear from you, please enter your comments the! Regularly updated with new information with waived annual fees for the outdoors and website in this browser for next. Above values are estimates works out to about $ 58 a month traveler with a particular love for the card!: this is a recurring post, regularly updated with new information luxury! Up to $ 695 annual fee immediately access, and website in this browser the! Annual Membership to the Equinox+ fitness app on location or travel habits travel and credit cards as lifestyle to... But not limited to Global Entry or TSA Pre fee credits you can expect to works out about! Elite status that comes with the Platinum card is a credit card annual fee earn 80,000 Membership perRead. Redeem through Chase Ultimate Rewards dining, entertainment, and E by Equinox access credit card subject to our statement. Previously clocking in at a $ 550 annual fee Worth it fees with their to!, that can mean big travel, wellness, and wellness benefits on July,! At NextAdvisor were firm believers in transparency and editorial independence certain cards to! Are typically charged on the American Express Platinum card to receive the credit... Must be 13 years of age or older.8 our online services are subject to our Privacy statement agree. Benefits for cardholders our advertising partners the number on the math: Dont forget to another! ; earn 5 Membership Rewards perRead more youll see the annual fee credit others may not able!