Tiger Brokers

3 Little-Known Perks of the Amex Platinum Card

Motley Fool
07 Feb

KEY POINTS

  • The Premium Global Assist Hotline is available 24/7 to help cardholders with travel issues.
  • Members can get their CLEAR® Plus membership covered with a credit.
  • The Amex Platinum Card's purchase protections are worth up to $50,000 per year.

The Platinum Card® from American Express has a well-deserved reputation as one of the best travel cards out there. Most people know about its big rewards for travel spending, airport lounge access, hotel room upgrades, and other splashy perks.

But the Amex Platinum Card has some unique and valuable perks that even many cardholders don't know about. Keep reading to learn about three of them.

Ratings Methodology

The Platinum Card® from American Express

Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees

Rating image, 4.50 out of 5 stars.
4.50/5Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score:Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees

Credit ScoreCircle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good/Excellent (670-850)

Intro APR

Purchases: n/a

Balance Transfers: n/a

APR

See Pay Over Time APR

RewardsCircle with letter I in it. Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply.

1X-5X Membership Rewards® Points

Annual Fee

$695

Welcome OfferCircle with letter I in it. Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

80,000 Membership Rewards® Points

  • This luxury travel card has some of the most prestigious perks you'll find — access to over 1,400 airport lounges, elite status with Hilton and Marriott Bonvoy (enrollment required), and spending credits worth over $1,500 in value every year. Just be ready for the hefty annual fee, which can be offset in the first year with a welcome bonus worth $800 in points. Terms apply.

    • Big welcome offer
    • Substantial spending credits
    • Airport lounge access
    • Hotel benefits
    • Flexible travel points
    • Annual fee
    • Limited bonus categories
    • Spending credits can be complicated to manage
    • Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
    • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
    • $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
    • $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
    • The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
    • $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
    • $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
    • $200 Uber Cash: Platinum Card® Members can get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card® to your Uber account to get started. Available to Basic Card Member only. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
    • $199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
    • Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
    • Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
    • Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
    • $695 annual fee.
    • Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
    • Terms Apply.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip delay and cancellation insurance and cell phone protection underwritten by New Hampshire Insurance Company, an AIG Company. Extended warranty, purchase protection, car rental insurance, and baggage insurance underwritten by AMEX Assurance Company.

1. Help with travel planning and emergencies

Amex Platinum Card holders can call the Premium Global Assist Hotline (PGA) to get help with all sorts of travel-related issues (terms apply).

If you're planning a trip abroad, a PGA rep can answer questions about your destination, like:

  • What you can take through customs
  • What vaccines you may need
  • Passport and visa requirements

You can probably google most of this information, but PGA can help you in other ways while you're traveling. For example:

  • If you need an interpreter in the event of a "travel emergency," PGA can patch one in over the phone.
  • If you lose an item, or your luggage is missing, PGA can help track it down.
  • If you have a medical emergency and need transportation to a medical facility, PGA may coordinate your transport and cover the cost (though this benefit comes with a long list of caveats and requirements).
  • If you get into legal trouble, PGA can refer you to local lawyers and bond agencies.

PGA can't help you with every travel snafu, but it's available to Amex Platinum Card members 24/7. It never hurts to ask, and PGA just might help you get out of a pinch.

Love to travel but don't need all the fancy perks? Check out our list of the best travel credit cards to find one that could be a better fit for your lifestyle.

2. CLEAR® Plus membership credit

A lot of travel cards -- including the Amex Platinum Card -- will give you statement credits to cover the cost of TSA PreCheck or Global Entry. But the Amex Platinum Card goes a step further: Cardholders can also get an annual credit (up to $199) to cover the cost of a CLEAR® Plus membership (terms apply; enrollment may be required).

CLEAR® Plus lets you skip to the front of airport security lines after verifying your identity with a quick scan of your face, eyes, or fingerprints. It's currently available at 58 U.S. airports. Combine CLEAR® Plus with PreCheck or Global Entry, and you'll be reaching your gate in record time.

3. Generous purchase protections

Many cards offer some form of purchase protection, but the Amex Platinum Card goes above and beyond.

If something you've purchased with your Amex Platinum Card within the last 90 days is stolen, lost, or accidentally damaged, then Amex may reimburse you for some or all of the cost. Your coverage is limited to $10,000 per item and $50,000 in total claims per year (terms apply). That's sky-high compared to most credit cards that offer purchase protection.

There's a long list of exceptions to this policy. For example, cars, buildings, and perishables aren't covered. However, many Amex Platinum Card holders have reported getting their money back with little hassle.

The Amex Platinum Card also comes with return protection. If you decide you don't want something you purchased with your Amex Platinum Card, but the seller won't take it back, then Amex may refund you up to $300. This benefit is capped at $1,000 per year (terms apply).

The list of benefits goes on and on

These are only a few of the Amex Platinum Card's lesser-known perks. Add in the benefits that made the Amex Platinum Card famous -- the many statement credits, the high rewards rate for travel spending, elite status with hotel chains, and more -- and cardholders can earn back their $695 annual fee (see rates and fees) several times over.

Ready to find out more? Read our full Amex Platinum Card review to learn more about this premium travel card's benefits.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10