AMEX Platinum Charge Card - Worth it?

Jlawson118

I've had the Gold Charge Card just gone two years now, and I think it's great. I've always met the criteria for 10,000 yearly points bonus, and I also get on great with the double points on travel/foreign expenditure. I did try the Platinum Card about 18 months or more ago but closed it down after a month or two because I felt I was getting more use from my Gold.

I'm constantly getting emails from AMEX asking me to upgrade to Platinum. But I just don't see the worth in it. It's £575 per year and the only thing I'd really see myself getting out of that is £40/£50 that my annual travel insurance tends to be, and the airport lounge access.

I know there's the hotel rewards schemes where you're fast tracked to the top tiers, but I'm quite loyal to the Accor Hotels brand where my loyalty is near enough Gold with them anyway.

I find it a bit disappointing that you don't get as many membership reward points as you would with Gold. But then again I suppose they are investing a lot into hotel partners and the concierge for customers.

Think I've answered my own question in this thread :rotfl: But I'm wondering what other MSE members think? It's something I do keep contemplating but don't know if I'd get my £575 worth.

stevenhp1987

How long is a piece of straw?

If you'll get more out of it than the £575 fee then great! You'd have to be travelling quite a lot (and at different chains, otherwise you'd have the perks through your frequent flyer or hotel program) to use most of the perks.

Here's a good review that might help: https://www.headforpoints.com/2019/11/02/amex-platinum-review/

You still get 1 MR per £1 spent, with no 10k after £15k spend... The Plat is all about the perks.

Ben8282

The platinum card is not 'worth it' in any real sense. It is more a question of prestiege value. It all depends if you are happy paying the fee or could put the money to better use. If you are happy to pay the fee then yes it's a nice thing to have but NOT a product which offers any value for money. The value of any rewards earned will not justify the annual fee.
The concierge service is all very well IF your lifestyle is such that you will make use of it. The same applies to the various insurances. Offers of certain levels of membership in hotel rewards programmes are fine if you actually use the hotel chains in question and actually receive the promised loyalty cards (personal experience). Offers of room upgrades by presenting the card at check in are again fine so long as the hotel actually honours and provides them (personal experience). Personally I have a low opinion of the competence of Amex platinum travel service, their charges to issue tickets, their 'attitude' if they make a mistake.(personal experience) and their refusal to accept the Amex card and request an alternative form of payment if you want to travel with an airline which does not accept Amex as they won't accept it in their own right as Amex (cards) charge Amex Travel Service too much (personal experience - Amex travel service refusal to accept Amex card in their own right as opposed to on behalf of the airline for Monarch airlines ticket after Monarch stopped accepting Amex. Reason stated by Amex Platinum Travel service - Amex (cards) charge us too high a merchant fee. Surely you should be able to pay Amex Platinum Travel service with the Amex card for anything you purchase from them?)
Amex like charge card customers who are happy to pay large annual fees. If you do upgrade to platinum, maintain a good payment history and keep using the card, one day you will be invited to upgrade again to a charge card with an even higher annual fee. When you receive this invitation you will be so overwhelmed you will accept immediately and Amex will be getting an even larger annual fee from you.

adouas

For me it is worth it.

I fly at least 8 round trips a year out of London and I can use the departure and in some cases arrival lounges each time so I never ever need to pay for food or drink at airports out of my pocket. This would save me a good 200 GBP minimum, and even more if I start flying more.

Travel Insurance and Car Rental Insurance? At least 100 GBP

I use the Addison Lee 10 GBP monthly cash back thing as well reasonably often so let's say 50 GBP from that.

So I get a good 350 GBP back from that.

I invited 2 friends and got 100 GBP worth of Amex points.

I have also been to an Amex Platinum Concierge Free Event in Central London where I got food and drinks for free.

I then spend a reasonable amount on the card and do the points cash back thing, so basically this year my Platinum card cost me ZERO.

I am very happy with it, I use it pretty much all the time except the few places that don't accept Amex and when I go abroad and do daily purchases with the Halifax Clarity 0% FX commission card.

I still use AMEX at hotels and car rentals as it being a charge card I could care less what deposits they take on it.