With a $550 annual fee, the Platinum Card® from American Express is one of the most expensive charge cards around. Is it worth it? If you’re a frequent traveller the short answer is, yes. For your first year, the welcome offer of 60,000 Membership Rewards® points (if you spend $5,000 in the first 3 months) translates to $600 towards your next flight. This alone makes the first year well worth the annual fee. But of course the welcome offer is just the beginning. In addition to an exhaustive list of travel perks and a $200 Annual Airline Fee Credit, this card now offers 5X points on airline flights and hotels booked on amextravel.com. If you are credited the $200 a year for airline fees and spend $7,000 in the 5X categories, your annual fee virtually pays for itself in credits and points.
Membership Rewards® points can be used to purchase gift cards, redeemed for a variety of rewards such as airline tickets, hotel stays, and merchandise, or transferred to frequent flyer programs.
Ease of Reward Redemption
Perks & Features
This table shows approximate credit score category ratings based on FICO® Score 8 and should only be used as a general guide.