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Old Apr 24, 11, 9:12 pm   #1
 
Join Date: Oct 2008
Location: MCI
Programs: Mega Bus Plaid; Southwest Airlines Ruby and Bates Motel Platinum
Posts: 224
AMEX Platinum...worth it?

I am giving strong consideration to picking up an AMEX Platinum for the first time...I note that it has an impressive roster of benefits, including the current promo offering 50K MR points....with the current 50 percent first time transfer to Delta, that seems like a nice set of benefits for the $450 annual fee. However, I am wondering how many of you keep the AMEX Platinum around after the first year...are there any retention incentives? The standard benefits are nice, but I'm not sure based on my current travel patterns if I will get full value out of those. I have a family and most of my travel is on my own dime...so I am not on the road as often as many. I am planning an upcoming international trip which likely will put in me in coach and so the lounges will be nice...but that likely is over a year away. Overall, I am simply curious if folks think paying $450 is worthwhile for the card for someone like me. Thanks for any insight.
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Old Apr 24, 11, 10:19 pm   #2
 
Join Date: Dec 2003
Location: New york, NY, United States
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Just grab it, then drop it before the annual fee kicks in. I'm guessing they won't be offering that 50K bonus forever. If they do offer some incentives to keep it I will. I think the benefits make it worthwhile even though I don't do a lot of business travel if any at all.
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Old Apr 24, 11, 10:19 pm   #3
 
Join Date: Jun 2010
Location: Minneapolis, MN
Programs: DL, AA, UA, SPG Gold, HH Gold, IHG Platinum, Marriott Silver
Posts: 373
You get access to a ton of airport lounges through the card itself as well as the included Priority Pass membership. Every year they'll cover up to $200 in airline fees. It's a pretty sweet card if you can get it.
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Old Apr 24, 11, 10:33 pm   #4
 
Join Date: Jan 2010
Posts: 1,512
Just get it. It's well worth it for the first year with the current 50k bonus and perks. For some, the perks will make it a card worth keeping, depends on how much you utilize the benefits. Everybody is different. Get it, see how it works for you. Keep it if you think you get your moneys worth, give it up at the end of the year if you don't.
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Old Apr 24, 11, 10:33 pm   #5
 
Join Date: Aug 2010
Location: ORF
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I've had the Platinum Card for about 20 years. Perhaps others have received retention bonuses; I haven't. When the 50,000 point promotion came up, I requested a similar benefit for a similar spend. Rejected.

Platinum has plenty of really good benefits that I use, including lounge access, the $200 airline credit, elevation to Gold elite level at SPG, the Membership Rewards program, the recent elimination of foreign transaction fees, and the rebate for the Global Entry fee. I don't think it's likely Amex is going to waive annual fees for too many members when they're offering that roster of benefits.

Further information can be found in this thread: Amex platinum charge card annual fee. As noted by one of the posters, his annual fee has been comped in the past, based on his level of spending. Although not specified, I suspect his annual level of spending exceeds $100,000. That's speculation on my part, but somewhat informed by my own experience with an annual spending level at about half that and discussions with others whose spending either matches or exceeds mine but not above $100,000. No one I know with that level of spending has gotten a waiver of the annual fee.
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Old Apr 24, 11, 10:52 pm   #6
 
Join Date: May 2010
Location: WAS
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Posts: 1,182
The Gold Premier Personal and Biz both have 50K promos from time to time. I got both. No fee 1st year.

Personally i would, and did, get those 1st. Next I'll get the Plat.
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Old Apr 24, 11, 10:52 pm   #7
 
Join Date: Feb 2011
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Quote:
Originally Posted by mnscout View Post
Just grab it, then drop it before the annual fee kicks in. I'm guessing they won't be offering that 50K bonus forever. If they do offer some incentives to keep it I will. I think the benefits make it worthwhile even though I don't do a lot of business travel if any at all.
You get charged $450 on your first month's bill so you can't drop it before the fee kicks in.

The OP could get it, pay the $450 and try it out for a year and then if they don't feel the card is beneficial then drop it a year from now.
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Old Apr 24, 11, 11:52 pm   #8
 
Join Date: Dec 2003
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Quote:
Originally Posted by kts262 View Post
You get charged $450 on your first month's bill so you can't drop it before the fee kicks in.

The OP could get it, pay the $450 and try it out for a year and then if they don't feel the card is beneficial then drop it a year from now.
That's what I meant. Drop it before the next annual fee kicks in. Just to clerify.
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Old Apr 25, 11, 6:18 am   #9
 
Join Date: Apr 2011
Location: FLL or MIA
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It really depends on your individual circumstances. In my case I predominetly fly Delta so the card gets me into the Sky Clubs. Then add in the $200 incidental fee, the $100 Global Entry fee and the addition of Priority Pass and it certainly becomes worth it for me. Now if my main carrier was United/Continental it may not be worth it since it gives you no access to those clubs.
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Old Apr 25, 11, 6:46 am   #10
 
Join Date: Jan 2010
Programs: AA BA CO DL UA US
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Well, it all depends upon what you value. I don't care much for airport lounges and their other benefits, some of which are available via other cards as well. When I click what cards are pre-approved for me at Amex, the Platinium is one of them. Personally, I am waiting for a 100k point bonus or a first year fee waive and 50k points bonus.
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Old Apr 25, 11, 6:58 am   #11
 
Join Date: Nov 2005
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For anyone interested, I just wrote an updated review of the card since there have been a bunch of changes in the past 6 months.

In my opinion, the first year with 50k sign up is a no brainer. Renewals are a different beast, but the card is still worth it for me since I'm addicted to Membership Rewards points and extensive lounge access!
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Old Apr 25, 11, 7:15 am   #12
 
Join Date: Jan 2011
Location: Raleigh (RDU)
Programs: DL Gold, AA Gold, Marriott Gold, HHonors Gold
Posts: 72
I just received my AmEx Platinum last month in order to take advantage of the 50k MR promo, but after only 2 weeks of using it, saw it's value.

We were headed back BOS-RDU on Marathon Monday, when our flight had a fault and was cancelled. As I'm only FO on Delta this year, the other PM's and GM's were rebooked direct but not so lucky for me, I was placed on standby and with the crowd behind me also trying to figure it out, I went to the Sky Club and handed her my card. The lady took my tickets, assured me it would be a small chance I would get a seat on the next direct flight as there were so many standing by, and instead booked me on a flight with one connection that got us into RDU 5 hours later, but was confirmed. After that, and the open bar we had while waiting there, the $450 fee seemed minimal.
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Old Apr 25, 11, 8:57 am   #13
 
Join Date: Jul 2007
Location: ATL
Programs: Skymiles FO, a+ rewards lifetime elite, AS, Marriott silver, PC plat, spg gold, HH gold
Posts: 924
received a nice Holiday package last year, Tumi Vapor Roll aboard, i-pod nano, Bose headphones, blanket and pillow. Not every cardholder received this package according to the thread started in December 2010.
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Old Apr 25, 11, 8:59 am   #14
 
Join Date: Oct 2009
Posts: 207
Quote:
Originally Posted by muflyer View Post
I am giving strong consideration to picking up an AMEX Platinum for the first time...I note that it has an impressive roster of benefits, including the current promo offering 50K MR points....with the current 50 percent first time transfer to Delta, that seems like a nice set of benefits for the $450 annual fee. However, I am wondering how many of you keep the AMEX Platinum around after the first year...are there any retention incentives? The standard benefits are nice, but I'm not sure based on my current travel patterns if I will get full value out of those. I have a family and most of my travel is on my own dime...so I am not on the road as often as many. I am planning an upcoming international trip which likely will put in me in coach and so the lounges will be nice...but that likely is over a year away. Overall, I am simply curious if folks think paying $450 is worthwhile for the card for someone like me. Thanks for any insight.
"Worth it" is a subjective term, but I'll say under most circumstances it should be worth it for a year. Between the signup bonus (50k doesn't appear to come around all that often, although who knows if it will be a new norm), lounge access, $200 airline credit, etc, I think it's worth a try for most.
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Old Apr 25, 11, 9:00 am   #15
 
Join Date: Nov 2009
Location: Kuala Lumpur
Programs: UA MR UR AA
Posts: 106
Anyone know the T&C of the current Amex 50k MR promo? I clicked on a few of the links provided here but I don't see anywhere on the Platinum application page that states 50k MR points for signing up. I'm a current Amex gold, SPG and blue card member though, maybe that's a reason?
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