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In this video we are doing an updated Amex Platinum Card review to answer whether or not this popular American Express credit card is worth it! The Amex Platinum benefits and features are really good for those that travel a lot, but the high $695 annual fee makes it one of the most expensive credit cards out there. So, since I’ve now had the American Express Platinum Card in my own wallet for 2 years, I figured that I would give you all my honest opinion on whether or not this card has been worth the price.
American Express designed the Platinum Card to be very travel focused with its many credits like an Uber credit, an airline fee credit, a hotel credit, and many more. The Platinum Card’s point multipliers are also focused heavily on travel with 5x points on flights and certain hotel bookings. But to justify such a high annual fee it takes a very specific customer, so that’s why this credit card needs such a detailed review.
Overall like I talk about in this video, after 2 years with the Amex Platinum Card, I’ve received a lot of value. My total value typically comes close to the annual fee every year from the credits, so when I add in what I get from all of the other benefits, I think the Amex Platinum is worth it for me. But for anyone watching this, you’ll have to run the numbers yourself!
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CHECK OUT SOME OF MY OTHER VIDEOS:
How To Redeem Amex Points For MAX VALUE (Beginner’s Guide): https://youtu.be/nQ-BjcpIAmA
Maximize Your Amex Points For Flights (3 Examples): https://youtu.be/fJXYv8gvqhs
Amex Platinum Card – 13 Things You MUST DO: https://youtu.be/hFHh4bcw1bA
Amex Gold Card – My HONEST Review (After 2 Years): https://youtu.be/F74MANIi90Q
Amex Trifecta – A Powerful Setup (You DO NOT Need): https://youtu.be/r0xeEA2_IFw
How To Climb The Credit Card Ladder (Explained): https://youtu.be/1KswO3lvG8c
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The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.
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24 comments
I just got it with a 125,000 SUB and I figure I’ll get $240 streaming, $200 Uber, $200 hotel, & $100 Saks. We’ll see if I decide to keep it after a year though.
I just got this card almost a month ago. I was able to get the 150000 bonus offer so I went for it. My husband travels a lot for work and we plan to travel more this year and next with our kids so we thought we would give it a go! I appreciate all the help so I get the most out of it!
I was bummed I had already paid for a year membership to Walmart a few months ago so I can’t use that credit 🤨
But will definitely get use out of the others!
Great video!
As a college student this card definitely doesn’t align with my natural spending habits so far. I don’t travel too much either to justify the cost regardless. I travel 1-2 times a year and don’t even have an lounges available at my home airport. I’ve been mostly focusing on finishing off my chase trifecta with the CSP. I have the flex and unlimited thus far and am at 3/24 with 4 cards total. Amex seems like a late game credit card setup as I gain freedom to travel. Awesome video as always Dan!
Great video! What would you say is the best travel credit card? Since chase is very difficult because of the 5/24 rule
If you've never had Amex Platinum before and plan to get it some point in the future, DO NOT get yourself as authorized user. It might cause you not qualified for welcome bonus when you apply for Amex platinum as a primary card holder later. Source – Amex customer support.
for such a massive annual fee, this card really should get 1.5-2x on general spending. But guess they don't have to as many probably have this card as a 1-2 card setup and for the prestige of the card not for maximizing benefits.
10/10 of my friends use almost none of the credits and barley use lounge access because they have long lines and a guest isn’t free anymore. Since they are using points to book flights and the hotel credits aren’t very pliable, they are definitely sinking money just to flex lol.
The gold card is really the better option unless you can justify the credits and you can use your personal card to reimburse work travel.
Edit: people sometimes treat the credits as free money, but don’t forget that they are just credits to offset the $700 you already spent on the card. The point of rewards cards are to receive financial benefit and soft benefits like trip insurance. If you are working for the card, then the card isn’t working for you lol
I'm keeping my card cause in my first year I've had positive value of over $940 on the $695….plus the 100.000 pts? And I've visited the centurium lounge about 10 times in the last year not even counting the priority lounges. Lost count.
Not for everyone but Great for me. It's not for people that wouldn't do any of this stuff anyways. I travel a lot, stay at hotels, use Uber to get around when I travel, shop a Sak's from time to time, so the credits are easy because I do that stuff anyways. if it's hard to justify the credits, this card most likely isn't for you. The Platinum in combination with the Hilton Aspire has made travel great for me 🫡
You have no idea how much your help has meant to me Ricchdawg ,There was nothing random about your acts of kindness. You made me myself again with your credit card things 👆🏾
As somone who will begin their traveling journey next year, I really want to get try to get it at the end of the year but I’m hesitant because of the amount that has to be spent to make the $695 worth it.
Yes on card pointers!!!! Love when they get mentioned. Such a great app/extension/service!!
It’s a travel habits issue. If you use FHR, you can easily get back your annual fee in one trip. ($200 hotel credit, $100 experience credit, $30+ per day breakfast benefit, early check in, late check out, room upgrades, often other small benefits). Use other credits on top and you will easily turn a profit. The hotel & flight multipliers are good, and the offers can easily get you a few hundred dollars per year (or more) on things you would have bought anyway.
If you don’t use any credits, don’t fly, and are happy staying with friends and family when you travel, don’t get the card.
I used about $1000 of the credits last year, plus $240 of platinum offers, plus three FHR stays, plus six airport lounge visits. For me, the Platinum was worth it.
I've benefits alot since I start dealing with *Ricchdawg* cos I got my dumpstpin with good balance on it he is very legit man work with him I bet you won't regret it
I am in the military, i get waived the annual feed, also i referral some friends , so i get 15,000 for each friend
Hello Daniel!
I love your videos, I want to open a business checking account and would like to know which do you think is best.
Is it just me or should we cast this guy as the next Joker???
Once you cut these into segments with time stamps, and even produce some shorts this channel will shoot the moon my friend.
can you make a video on how to get the Morgan Stanley American Express Platinum card in 2023? I don't care about getting the 695 credit. I just want to know how to get the card itself.
1000USD for AMEX platinum card in Australia and AMEX card holders in here have much less benefits compared with AMEX platinum in the U.S., platinum card service in New Zealand is even worse.😅😅😅
It's a big nope for me. The coupons they offer are of no interest to me, I very rarely travel, am team cash back, and the multipliers on the platinum are poor compared to the card lineup I regularly use. Definitely not worth paying $695 for a card that I would basically sock drawer, since it would be worthless for me to get and no reason to take up space in my wallet with the cards I actually use.
The US card is so much better than the UK one wtf
The extra gold card that come with the platinum card is what got me I thought it was like the reg gold card fool me
You are so so rite about that