The Amex Platinum Review | Should I Renew the $695 Annual Fee?

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Last year I added the single most expensive credit card that is widely available to my wallet… the American Express Platinum Card. So, with the renewal of its $695 annual fee looming… let’s take a look back to see if I actually came out ahead of that hefty annual fee and walk you through exactly how to know if this is a card worth adding to your wallet.

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0:00-Intro
0:20-Credits and Benefits
3:59-Is it Worth $695?
5:47-Sign-Up Bonus
6:56-The BEST Benefit
8:13-Should YOU Get it?

[bubblie]

I just want to thank you for the transparency you provided in reviewing the "Amex Platinum" card. This video is incredibly helpful and thorough.

[FirstHandLLC]

I got my card in January with 150k points bonus and just on amex offers alone I’ve saved over $1000 already (hotel deals, watch, clothing, wine orders).The more you spend on it the more it makes sense.

[chellipurcell]

Another benefit of the Platinum card free Walmart + membership is that Walmart + includes a free Paramount+ membership. Not a huge benefit but $5.99 a month is a $72 a year benefit associated with the Platinum card. I also think the lounge access should be figured in somehow. If we didn’t have that we would be spending $ for food at the airport which isn’t cheap! I spent the Saks credit on socks I was going to buy somewhere else.

[RebeccaLMorgan]

Two thoughts: I'm going to Quito in a few months so used my FHR credit for 2 nights at a nice hotel costing me $2 out of pocket, plus it comes with a $100 credit for F&B and spa. This was even better than using my Bonvoy points for some 20K room nights. My point -- use those FHR for nice, but inexpensive hotels that cost you essentially nothing, not even certificates or points.

Second point: use those Saks credits for skin lotion (they have great brands), or sunscreen. I got some great moisturizer on sale that made my last $50 credit go far. It includes free shipping. If you or your wife aren't going to use it, offer it to your mom, sister, etc. -- don't let it go to waste!

[funnythag]

The $17.95 premium rental car insurance (primary) fee is actually an underrated perk. Yes, primary is included at no charge with many Chase cards but those cards lack many offerings of this card. What I like about the fee is that it covers 45 days. I had to do two work trips in 30 days and that one fee covered both trips.

[sacara]

9:40 Just a heads up, I'm pretty sure the Platinum doesn't provide Primary rental car insurance, only secondary. Both of the Sapphire cards and a variety of other cards issued by Chase provide Primary coverage, and Amex cards usually cover secondary. Is there another way to get primary coverage through the Platinum?

[getsugatenshoFTW]

The Amex FHR benefit is actually amazing! You can find cheap hotels and get elite status overseas

[Njs]

I just got a pre approval offer in the mail for 150k points but there's no way I can justify the annual fee. I already pay for the venture x, amex blue cash preferred, and southwest priority.

[Frexuz]

Finally, been waiting for this review!

[VincentPascual]

One of the benefits of the Business Platinum is having far fewer credits to manage than the personal version.

[jmalvarado]

I’m able to use the SW airlines credit for early bird checkins for me and my family. And when purchasing flights with SW points I use the Amex plat to cover the 5.60 fee and have had them cover those w the Airline credit.

[duanes]

The Walmart benefit with their app also gives you 10 cents off per gallon at Exxon, and allows you to get gas at Sams Club without a membership. I get $1700+ in benefits. $155.40 WalMart+
$300 Equinox
$200 Airline incidentals
$200 Uber
$100 Saks
$189 Clear
$240 NY Times
$329 Priority Pass

$1713 in benefits

[mehdiabderrahmane]

Thanks for this new video! I really love your channel! 👍🏼

Do you know how Kara and Nate get the upgrade for the presidential villa at the Bora Bora Conrad Hotel? (The sure that the Hilton Diamond status is totally not enough for that and i try to contact them but they didn’t get back to me).

Thanks by advance for your answer!

[squiggy]

I have used the airline fee credit to get into the delta lounge. I get in for free with the card, but no free guest, so I use it to pay for my wife.

[BoywithLoveeee]

I heard you can use the hotel credit if you buy an annual lounge pass (directly from Amex representative). Also I got 100k bonus but instead of spending 8k I only had to spend 6k. Booked Hawaiian airline business class to asia which cost more than 3k with 65k points +$39 (though Hawaiian business class is not the best or not good) which brings my annual fee an easy peasy one. I don’t use Disney plus nor Walmart and Hawaii doesn’t have any CLEAR yet so I would say I can only get a benefit from the Uber, airline and hotel credit plus lounge access and global entry.

[OurMidlifeVan]

After finally getting value out of the airline credit and hotel credit we had a value of $1200 in benefits over the last 10 months. Keeping it another year for sure.

[rachaeljdunn]

Didn’t you say you didn’t use the hotel credit? Then why include it in the total?

[blackphenix]

Thinking about grabbing this card and combining the 175k welcome bonus I received via mail and the AMEX corporate advantage program (gives $150 in statement credit annually as long as you maintain your corporate card every year).

[chrissan]

I don’t have the platinum yet just the gold, but I usually combine the gold Uber credit with the capital one saver, one Uber one credit

[DavidGarzaFamily]

I’m super tempted to get this one. I just got a 175, 000 points offer. I know it maths out, but $695 is a steep fee. I’ll be on your site figuring out the best way to use the points so the wife and I can go to Hawaii next year