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American Express® Platinum Card Review
Issued by American Express
  
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Overall Rating:
Benefit Rating:
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The American Express® Platinum Card is a charge card designed for those who have an excellent credit history, can pay in full each month, and want to avoid accumulating credit card debt.
This platinum card is by far one of the most glamorous of all platinum cards - offering numerous benefits and services to cardholders. In addition to the services provided by the gold card, the platinum card offers a concierge service, exclusive shopping discounts, up to $500,000 in travel accident insurance, and various travel related discounts, benefits, and services for cardholders (too many to list here). Read the 'Additional Perks' section (see below) as some of the benefits are quite impressive and unique.
Access to the Membership Rewards® program is free and offers cardholders the opportunity to redeem accumulated points for various services and benefits. For those who are not familiar with the Membership Rewards program, it is by far one of the best and most flexible reward programs available, with no expiration or yearly limit applied towards points earned. Plus, cardholders get 25,000 bonus points when they spend $1000 in their first three months of membership - that's the equivalent of one domestic airline ticket.
Of course, all these services and benefits come with a hefty price - a $450 annual fee, which is one of the highest annual fees in the credit card industry. Due to its high annual fee, this card should be exclusively used by those who spend at least $3,500 - $4,500 or more on their credit cards each month, frequently travel, and plan to take advantage of the many exclusive benefits offered.
Therefore, those who will take advantage of the many services and discounts and plan to spend several thousand dollars a month will benefit most from the American Express® Platinum Card.
This platinum card is by far one of the most glamorous of all platinum cards - offering numerous benefits and services to cardholders. In addition to the services provided by the gold card, the platinum card offers a concierge service, exclusive shopping discounts, up to $500,000 in travel accident insurance, and various travel related discounts, benefits, and services for cardholders (too many to list here). Read the 'Additional Perks' section (see below) as some of the benefits are quite impressive and unique.
Access to the Membership Rewards® program is free and offers cardholders the opportunity to redeem accumulated points for various services and benefits. For those who are not familiar with the Membership Rewards program, it is by far one of the best and most flexible reward programs available, with no expiration or yearly limit applied towards points earned. Plus, cardholders get 25,000 bonus points when they spend $1000 in their first three months of membership - that's the equivalent of one domestic airline ticket.
Of course, all these services and benefits come with a hefty price - a $450 annual fee, which is one of the highest annual fees in the credit card industry. Due to its high annual fee, this card should be exclusively used by those who spend at least $3,500 - $4,500 or more on their credit cards each month, frequently travel, and plan to take advantage of the many exclusive benefits offered.
Therefore, those who will take advantage of the many services and discounts and plan to spend several thousand dollars a month will benefit most from the American Express® Platinum Card.
Review Date: September 02, 2008
Note: The review on this card was updated on September 02, 2008. The review is believed to be accurate during the update, however, information posted may have changed since the update. We strongly suggest that you carefully read the Terms and Conditions statement that accompanies the credit card application.
| Credit Card Rate Details | |
Intro Rate (Intro APR):
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No Introductory Rate Available |
| Credit Card Fee Details | |
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Annual Fee:
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$450 |
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Annual Fee Details:
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**$175 for up to three additional cards; $175 for each additional card after the first three. |
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Additional Cardholders:
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$175** |
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Late Payment Fee:
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$0 to the greater of $35 or 2.99%*** |
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Cash Advance Fee:
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n/a |
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Minimum Credit Limit:
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See Important Notations |
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Maximum Credit Limit:
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See Important Notations |
| Credit Card Reward Program Details (Point) | |
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Points Per Dollar:
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1 Point |
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Point Details:
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Points are redeemable for travel, entertainment, shopping, and more. |
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Expiration:
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None |
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Yearly Limit:
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None |
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Bonus Details:
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Earn 25,000 Membership Rewards® Bonus Points When You Spend $1,000 in 3 Months - Redeemable for One Domestic Round-Trip Airline Ticket! |
| Features | |
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Most Attractive Feature(s):
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| Free access to rewards program; many benefits and additional perks. | |
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Least Attractive Feature(s):
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| Extremely high annual fee for primary and additional cardholders. | |
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Additional Features:
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| Various Internet account related services. Year-end financial statement. Discounts on products and services at participating merchants and retailers. Return protection. Purchase protection. Extended warranty for purchases. Fraud protection. Various travel and emergency assistance services. Medical referral services. Legal referral services. Emergency check-in service. Lost luggage insurance. Emergency card replacement. Trip planning assistance. Auto rental insurance. Up to $500,000 in travel accident insurance. See website for additional benefits. |
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Important Notations
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| This card is a charge card and the bill is paid in full each month. ***Late payment fees vary from state to state. The card has no pre-set spending limit; however, purchases are approved based on credit record, account history, and personal resources. See website for complete terms and conditions of card usage and application disclosure. | |
| Additional Information | |
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Apply Online for the American Express® Platinum Card from American Express See other Charge Credit Cards See other American Express Credit Cards |
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