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The Platinum Card® clearly stands out from the competition thanks to the various benefits it offers frequent travellers. For each of them, I will try to assign a value.
This is personally something I appreciate (and I know many members of the Facebook group do too!)
The Platinum Card® offers free, unlimited access for the cardholder and a travel companion to most of the lounges listed below.
If we look only at the Priority Pass membership included for the Platinum Card® cardholder, this benefit is worth US$469/year.
And American Express has a special agreement with Priority Pass that allows you to add a travel companion to this membership (which would otherwise cost US$35/visit)!
And that is without counting access to all the other types of lounges around the world:
Here are the conditions of access for each type of lounge:
Being reasonable in my estimates, thanks to this airport lounge access benefit offered by the Platinum Card®, I estimate that I save $40 per person each time we pass through an airport (for drinks/food).
And that is without counting the rest you get versus waiting in certain terminals (especially with young children)!
American Express has partnered with various hotel programs to provide access to higher statuses when you are a Platinum Card® cardholder.
Among all hotel programs, I consider that only the status offered by the Platinum Card® on the Hilton Honors side has value.
It is the only one to offer breakfast in most of the group’s hotels.
Unfortunately, Marriott Bonvoy Elite Gold status has lost its appeal, as the program now reserves the benefit of free breakfasts for Platinum Elite members.
I would have liked to see American Express offer Platinum Elite status, or at least elite night credits to reach that status level more quickly.
The value of this Platinum Card® benefit is relative. It will depend on the number of stays you make at these different hotels each year. If you prefer Hilton properties, getting free breakfast for each of your nights can be a significant benefit!
Assuming an average rate of $20 per breakfast per person, for 10 nights per year, that can be a savings of $400 per year thanks to this benefit.
But if you stay at Marriott hotels instead, the value of this benefit is lower.
If there is one Platinum Card® benefit that is easy to quantify, it is the annual $200 travel credit.
When you apply for the Platinum Card®, you receive a $200 travel credit to use through American Express Travel services. This may be:
Then, each year when your Platinum Card® annual fee renews, you receive this credit again. I explain in detail in this article how the annual travel credit works.
As I have the opportunity to travel several times a year, it is easy for me to use the Platinum Card® annual $200 credit. It is therefore worth $200 for travel I would have purchased anyway!
Another Platinum Card® benefit that is easy to quantify is the annual $200 dining credit.
When you apply for the Platinum Card®, you receive an annual $200 dining credit.
This credit applies to your restaurant bill based on a list of American Express restaurants.
Then, each year on January 1, you receive this credit again.
As I have the opportunity to dine at good restaurants in Montreal, it is easy for me to use the Platinum Card® annual $200 dining credit. It is therefore worth $200 for a meal at a good restaurant that I would have had anyway!
Instead of using my American Express Cobalt® Card (which allows me to earn 5 points per dollar at all restaurants), I will use my American Express Platinum Card®.
The Platinum Card® comes with another benefit for travelers: the $100 statement credit for NEXUS program membership. Simply charge your NEXUS membership (every 4 years) to your Platinum Card® to receive this credit.
Beyond the travel benefits, it is important to note the excellent Membership Rewards points earning with the Platinum Card®:
Here is an example of earning:
The Platinum Card®—like the American Express Cobalt® Card—lets you use your Membership Rewards points in multiple ways, without being “stuck” with Aeroplan points:
Here is how I go about it, concretely, to make this Card return more than its $799 annual fee.
To give you real benchmarks, here are two profiles based on the benefit values I assign earlier in the article. The annual fee is $799. I present the recurring value (year 2 and beyond), then the first-year value with the welcome bonus.
It is clear that the Platinum Card® is not for everyone and remains a card designed for travellers.
However, if you have travel plans and can take advantage of its various benefits (annual $200 travel credit, annual $200 dining credit, airport lounge access, statuses, etc.) as well as the Membership Rewards points earning categories, this is THE card to get in preparation for those trips!
The benefits easily outweigh the annual fee (especially in the first year with a welcome bonus).
In my view, it therefore remains an essential card alongside my American Express Cobalt® Card!
*This post was not sponsored. The opinions and viewpoints expressed in this review are solely my own. American Express is not responsible for maintaining or controlling the accuracy of the information published on this website. To obtain complete and up-to-date information about the product, click the Apply Now link. Terms and conditions apply.
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