There are a lot of premium credit cards that have some of the most amazing benefits but are rarely acquired by many due to their high fees. With the American Express Platinum Credit Card, the annual fee might be one of the highest but it is also one of the most sought-after credit cards all over the world.
There is a reason why it is one of the most popular and one of the most coveted credit cards in the world. The moment you get approved for this card is the moment that your life will immediately change. You begin to live the high-end lifestyle that you have dreamed of or improve your life altogether.
If you're interested to learn more about the American Express Platinum Credit Card and how you can apply online, check out the guide below.
A Slew of Benefits That Will Change Your Life
The American Express Platinum Credit Card is a high-end premium credit card that is not normally offered to anyone. It is one of the most highly-coveted credit cards in the world due to its massive list of benefits, perks, and features that no other card can rival.
The card offers very high reward potential on flights and hotels as well as a comprehensive list of airport lounge access. You also get luxury travel benefits with Hilton and Marriott among others.
In your first six months with the card, you get 80,000 Membership Rewards Points after spending just $6,000 using the card. You also get a $200 hotel credit each year when you book hotels with American Express Travel and pay using your Amex Platinum card.
Cardholders can get a total of $240 in digital entertainment credits or $20 in statement credits per month when they subscribe to online streaming services like Disney+, ESPN, Hulu, and many more.
Interest Rates and Other Charges
One of the few drawbacks that many people might see with the American Express Platinum Credit Card is its annual fee. It costs a whopping $695 annual fee just to maintain the card but the amount of perks and features that you can take advantage of by simply having this card is enough to offset the annual fee.
Apart from that, you also have a very competitive APR of 20.99% to 28.99% on purchases made with the card. The APR for cash advances is at a prime rate of 21.99% while the cash advance fee is at either $10 or 5% of the amount of each cash advance whichever is greater.
The late payment and returned payment fee can be up to $40 but the good news is, you won't be paying any foreign transaction fee when you use the card.
Earning Rewards Using Your American Express Platinum Credit Card
The American Express Platinum Credit Card also has a very robust rewards program that allows you to earn Membership Rewards Points for different kinds of transactions done with the card.
You get 5 Membership Rewards Points for every dollar you spend on flights booked directly with the airline of your choice or with the American Express Travel program.
You then get another 5 Membership Rewards Points for every dollar that you spend on prepaid hotels booked through American Express Travel and another point per dollar on any other purchases made with the card.
Aside from that, you also get the 80,000 Membership Rewards Points mentioned above. The points do not expire as long as your account remains open so you can redeem your rewards at any time.
Check Out How to Redeem Your Rewards
There are multiple ways for you to redeem your rewards with the American Express Platinum Credit Card. You can redeem your Membership Rewards Points through American Express Travel when you book your next flight.
Remember that points are worth 1 cent each when used for flights and 0.7 cents for each point when redeemed for prepaid hotels, cruises, and car rentals. You can also transfer your points to different airlines and hotel partners.
If you want to redeem a gift card, be reminded that they are generally worth 1 cent per point, and using your accumulated points as statement credit will be worth 0.6 cents per point. You can also use your points during checkout at different online outlets like Amazon, Saks Fifth Avenue, Best Buy, and many more.
Maximize Your American Express Platinum Rewards
Making the most out of the rewards from your American Express Platinum Credit Card should be one of your priorities if you want to enjoy further discounts when you use your card.
The very first thing that you need to do with the American Express Platinum Credit Card is to use your hard-earned Membership Rewards Points to charge your purchases.
This can be done mostly during checkout but some other outlets and platforms allow you to add the discount upon selecting the items. The more you use your rewards points, the more you can make the most out of your card.
Take advantage of the many different perks that you get with the American Express Platinum Credit Card such as the $200 Uber cash or $300 statement credits for Equinox.
How the Amex Platinum Credit Card Compares to Others
When comparing the Amex Platinum Credit Card against many other cards of the same category, the American Express Platinum Credit Card continues to dominate.
When up against the American Express Gold Card, you might have a lower annual fee and a very similar rewards rate but the travel perks are lacking with this card against the Amex Platinum Card.
When compared to Capital One Venture X Rewards Credit Card, the American Express Platinum Credit Card still has a leg up even with its very low annual fee. It has all the potential perks and benefits that the average Amex Platinum cardholders enjoy.
What are the Qualifications to Apply for the Amex Platinum Credit Card?
If you're interested in applying for the Amex Platinum Credit Card, the first thing that you need to know is that you need to have a very excellent credit score.
American Express is quite strict on credit ratings so you need to prepare yourself before applying. You will need documents to prove your annual income that is set by the American Express Bank.
Other terms of eligibility include applicants who must be 18 years old and above, must have an excellent credit history, must have a good source of income to support the lifestyle, and must have no payment defaults as well as a resident of the United States.
For more information, you can call them at 1-800-528-4800 or visit their main office at 200 Vesey Street New York, NY 10285.
Learn How to Apply Online
To apply for the credit card online, head over to the official American Express website and choose The Platinum Card. It will take you to the card's homepage where you can see all the features and benefits.
Click on Apply Now and it will lead you to another window where you can fill up an application form.
Upload the digital copies of the required documents when asked and before you submit, make sure that you have reviewed all the information and you have read through the terms and conditions.
While a lot of people might be put off by the very high annual fee, the amount of features, benefits, and perks that you get from the American Express Platinum Credit Card makes it very worthwhile for certain people. Make no mistake, this is a premium credit card for specific types of people but if you do get one, it is one of those credit cards that you will never regret applying for.
Note: There are risks involved when applying for and using credit cards. Consult the institution’s terms and conditions page for more information.