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The Platinum Card by American Express has a $550 annual fee. Before we get to the benefits, there are several things I consider to be ‘offsets’ or dollar value credits that help me to mentally pay for the fee.
- $200 annual airline fee credit. You choose one participating airline and each calendar year seat fees, upgrade fees, change fees, lounge access fees and similar can be reimbursed. Although it’s not supposed to work this way, each year I purchase (2) $100 American Airlines electronic gift cards. And since the benefit is per calendar year, not member year, in your first year with the card you can get this benefit twice (once before the end of 2018, again at the beginning of 2019).
- $200 Uber credit. You get a $15 ride per month, plus an additional $20 in December.
- $100 Global Entry application credit, or $85 TSA PreCheck credit.
Now they’re adding another benefit: $100 each year at Saks Fifth Avenue. It’s $50 in the first 6 months of the year, another $50 in the second 6 months of the year, with no minimum purchase required and the credit will work online. The benefit is slated to start July 1 and you’ll have to register at that time. (HT: Zach Honig)
You’ll receive a statement credit after purchase, this benefit applies to all personal Platinum cards, but not to business cards.
And of course the Platinum Card by American Express gets some elite status benefits — Hilton Gold, Starwood Gold (soon to become Marriott Gold), National Car Rental Executive — and club lounge access.
- Delta lounge access when flying Delta same day
Delta SkyClub Seattle, Credit: Delta
- American Express Centurion lounges
American Express Centurion Lounge, Houston
- International American Express lounges
American Express Lounge, Syndy
- Priority Pass with unlimited visits and 2 complimentary guests
Minute Suites Philadelphia
- Plaza Premium lounges
Plaza Premium Lounge, Male
- Air Space lounges
Airspace Lounge, San Diego
- Escape lounges
Escape Lounge, Reno
I’m not a regular Saks customer but I’ll happily make a $50 purchase every six months.