How Bad Is The Amex Platinum Actually?

In this video, we’re looking at how good or bad the Amex Platinum card actually is. I’ve personally had the American Express Platinum card for over 3 years now, but I’ve got some mixed opinions about whether it’s been worth it.

Even though you’ll get access to airport lounges with the Amex Platinum, there’s still a hefty $695 annual fee that you’ll have to pay for that access. There are several annual credits here on this credit card to potentially offset that fee, but honestly these credits are not going to be great for everyone. There's even other credit cards like the Chase Sapphire Reserve and Capital One Venture X that could be better with their lower cost and easier to use benefits. Overall, I think there definitely is a lot of value that comes with the Amex Platinum card which makes it one of the best travel credit cards, but it's only going to be worth it for the right person.

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CHAPTERS:
0:00 - Intro
0:32 - Bonus vs Annual Fee
1:57 - Credits & Benefits
4:48 - Cuts Clothing
5:47 - Airport Lounges
8:56 - Spending Multipliers
10:12 - Hotel Benefits
12:25 - Car Rentals
13:27 - Sapphire Reserve & Venture X
17:02 - Thoughts

The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

[jaysonpadilla]

We may see an increase in the Annual fee from $ 695 to maybe $800 .
And to offset the cost, you will receive monthly a bag of Jolly Ranchers 😂😂.

[isaiescamilla]

I hardly use it in my everyday life but the benefits while being active duty are undeniable

[louisnvrr]

Currently working through a 175K SUB. The last 2 months I’ve been making use of the entertainment credit, Uber credit, Walmart + subscription for cheaper gas. Tomorrow my gf and I will be trying out our airports delta lounge and the one at LaGuardia👌

[SUltra-mtbg]

Card is worthless. Catered to luxury market yet offers Walmart credit 🤡 entire benefits suck outside of lounge access and booking flights but at $695 that's terrible.

The benefits used to be way better before. They increased the price and lowered the benefits.

[wez]

It complements the AMEX Gold card really well. I have several international trips lined up this year and don’t have the points to use for airlines yet but a benefit of the platinum card that is saving me hundreds of dollars that barely gets talked about is the International Airline Program.

On top of that, I justify the annual fee easily with Clear ($189), Hotel ($200), Uber ($200), and Digital Entertainment ($240) that I already spend and everything else are bonus.

[himanshusao]

I found the last-minute restaurant booking service through the Amex Platinum concierge to be particularly helpful.

[pashahillyard]

I've known a lot about credit itself for a long time, but a few weeks ago I started thinking about my future and dove into the YT credit card community. Daniel quickly became my go-to and convinced me that I'm team travel...the way this content is presented is so elite, at this point I know my card plan and I'm literally just watching his content because it's interesting and entertaining.

[LovetheCaTeam]

Canadian AMEX Platinum is $800, with only a signup bonus of 70, 000 in the first year and 30, 000 in the second year. The card only gives us a $200 travel and $200 Dining. The lounges that we have access to in Canada suck if it's not Maple Leaf Lounge.

[BobI-jbrk]

Since I live out in rural America, that big ass coupon book won’t do me much good. Congrats on the sponsor, it’s a fresh fit.

[ardnehsan]

Just got the Venture X, in a few months I’ll add the Savor One for my setup 😊

[Milkinporsche]

I highkey want to see a massive cancellation so the lounge can be less crowded.😂

[biancacalbert]

Great video. You can actually enroll in the premium car rental protection which will give you primary CDW. You can choose to pay either $20 or $25 when you rent a car. You only pay that fee when you rent a car and it’s a one time charge. You can add this benefit to most of the Amex cards. Joe Baretto mentioned this a little ways back.

[BoywithLoveeee]

The card is really good if you travel internationally at least once a year. Stayed at one of the most luxurious hotels in Korea and with my platinum card, I got to really enjoy it. I got upgraded to their executive business room (high floor and very spacious) plus the free breakfast for two (normally cost $60 per person) and $100 credit plus other benefits like early and late checkout. I think that alone really made me happy to have the platinum card.

[M-ne]

I essentially break even with the benefits, but one big thing people never mention is Purchase Protection. I’ve lost items or had vendors not accept returns after 30 days, and AMEX would refund me without any issues after filing a claim. Also the one year added warranty is a big plus

[sjg]

The resort credits, food discounts at hotels, access to lounges do add up, especially for the AMEX preferred hotels. The fee actually can be absorbed quite fast, and if you travel a lot, the lounge access is huge.

[jaysonpadilla]

Amex Platinum is awful use on everyday expenses only if you fly a lot. And the prepaid credits are worthless if you don’t use those services in your normal spending.

[psarks]

I got 500 worth of benefits using the card, from a 4 day trip. In addition to the annual Uber credits, Saks credit, 200 hotel credit, etc. If you take a couple of trips per year and you can't get at least triple the annual fee back in benefits, you may just be an idiot.

[wonderbread]

Love the videos!! Is that a speedmaster you’re wearing?? Sorry I’m a watch guy too lol

[bethearl]

Their Trip Cancellation/Interruption insurance SCREWED ME!!! I charged a $14, 000 Alaska cruise from Vancouver to Anchorage. We got covid halfway through. They denied our claim because the it was not a ROUND TRIP CRUISE. We made the mistake of not booking our airfare back to Vancouver on the same card.

[Sinisterniinja]

Love this card so much I have 5 of them. Only because I get the annual fee waived being active duty military