The Value of The Platinum Card from American Express

I have been contemplating applying for the American Express Platinum Card. Its annual fee is a whopping $699, but my question has been whether it is really worth getting it.

Here are some of the benefits of the American Express Platinum Card

  • A sign-up bonus of 50,000, when you make purchases to a minimum of $1,000 within the first three months. You can convert the 50,000 points at a rate of 1×1 to Aeroplan of Air Canada or Avios of British Airways. With Aeroplan, this will be enough to take you anywhere in North and Central America while 50,000 Avios is enough for a trip to England. Taxes are extra for both plans.
  • Points can also be transferred to hotels programs such Hilton’s HHonors and Startwood Preferred Guest.
  • A $200 travel credit annually. This can only be redeemed through the Platinum Travel Card. Because this can be used on a calendar year basis, if you apply the card now, you canĀ  use it now, and then sometime between Jan. 2014 and the expiration of your first year.
  • 1.25 Miles for every $1 charged to the card
  • Access to the Canadian Platinum Lounge for card member, spouse, a guest and a maximum of two children under 21.
  • Access to Airport Club Program
  • Access to Cathay Pacific Business Class Lounges
  • Access to Oneworld Alliance Airlines Business Class Lounges
  • Complimentary and discounted companion tickets andĀ  upgrades
  • Lodging benefits at member hotels


My Comments

For the first year, this is a worthwhile investment, as the bonus sign-up points alone is worth more than $500. Added to this is the $200 travel credit.

Thereafter, the major benefit is the $200 even if its advantages are somewhat restricted by the fact one has to use it through American Express.

But unless I travel frequently, and need to use the lounge often, this card does not work for me.

To apply for the card, visit the American Express The Platinum Card site.


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