Read this American Express Platinum Credit Card review to decide if this is the best credit card choice for you. Be sure to compare credit cards from many different credit card companies to decide on the best selection for your needs. Our unique credit card finder can help.
Similar Credit Cards:
American Express has been in business since 1850, although they did not originally begin in the banking industry. Instead, as their name implies, they began as an express delivery service to succeed where the U.S. Post Office was unable. In 1882 they began issuing money orders and by 1958 American Express issued its first charge card.
Today it is one of the largest credit card companies. Currently, they have sixteen personal cards to choose from and the American Express Platinum card is their featured offer in the luxury credit card market.
Review of American Express Platinum Card Benefits
With the slogan, “Wrap Yourself in Privilege” it is tempting to find out what the American Express Platinum Card has to offer. Rewards, travel privileges, premium access, personal assistance, and preferred shopping are some of the main features that accompany this card.
The rewards program lets you earn one point for every dollar you charge on your new Platinum card. If you use their preferred vendors at the Bonus Points Mall, you can earn four times as many points just for shopping with those retailers and using your charge card. You can even double your rewards points just for booking your trips online. So far, the rewards program sounds nice, but it’s pretty standard stuff. However, with this program you are also allowed to purchase rewards points so there is no more waiting for something if you really want to have it. The points don’t expire and there is no limit to the earning opportunities.
A traveler will truly appreciate the benefits of the Platinum card, with select access to airport lounges, travel protection, preferred guest treatment at more than 600 hotels, and your own travel consultant to help you plan your trip. You also get roadside assistance and baggage insurance as part of the program. Starwood and cruise privileges are also available.
American Express Platinum card holders also receive Premium Access. This little luxury gives you various opportunities in which you may not normally get to indulge. You will receive exclusive access to venues that are not publicly available, reserved tables at five star restaurants, concierge service to assist you with event planning, and the Event Ticket Protection Plan to reimburse you for unexpected cancellations.
Shopping assistance is also available through the Platinum Card Concierge. In addition to receiving help finding the right gift for the right occasion, you will get special offers and rewards from select vendors. Whether you are making purchases through Platinum Partners or with your local retailer, your purchases are covered from fraud. Warranties can be extended, accidental breakages are covered, and American Express Platinum will even refund your money for an item a store refuses to take back.
Review of American Express Account Management
American Express allows you to manage your account online where you can review recent activity, set up a payment schedule, request reminders and alerts, and check your Rewards account for balances and redemption offers. They also have mobile phone web access so that you can check your account from anywhere you are with your phone.
If you decide you want other people on your account, you are allowed to order additional cards for them. You have control over whether or not another person on your account is allowed to access your account management system. There is a charge for additional cards (See Platinum Card fees and rates below).
Review of AmEx Platinum Card Fees & Rates
All of the luxury features are nice and, of course, they do not come free of charge. An annual membership for the American Express Platinum card is $450. Additional cards are available for $175 for the first three and another $175 per card thereafter.
Since American Express is a charge card and not a credit card, the good news is that there is no interest rate applicable to your charges. The bad news, then, is that your payment is due in full every month when the billing statement arrives. Many people who choose charge cards over credit cards do so because they like having no APR and they pay their balances in full every month. Therefore, if you are the kind of shopper who always carries a balance, this may not be the best choice for you.
As is common with all credit card companies, if you do not pay your bill on time, late fees can be applied to your account. The late fees vary by state law but can be as high as $35. You can also be charged a late fee percentage of 2.99% of the balance that is late.
The cost of this card is outweighed by the value it provides to the cardholder who uses the services and amenities. The interest rate certainly can’t get any better than this, so if you are able to pay your full balances on time every month, this may be the card for you. You can apply online now for free at the top of the page or use the Credit Card Chaser Tool to shop for a different card.
Similar Articles:
- Citi Platinum American Express Credit Card
- Bank of America Accelerated Cash Rewards American Express Card
- American Express Business Green Rewards Card
- American Express Corporate Card
- Bank of America Accelerated Rewards American Express Card
- BB&T Platinum Visa Credit Card
- American Express Preferred Rewards Gold Card
