Amex Platinum Card - Worth the $695 Annual Fee?

This video is about whether the American Express Platinum Card, with its $695 annual fee, is worth it, discussing the benefits, perks, and credits that come with the card.

This video by Brian Jung was published on Jul 20, 2023.
Video length: 08:48.

This YouTube video is a review of the American Express Platinum Card and whether or not it is worth the $695 annual fee.

The video goes through the various perks, benefits, and credits that come with the card, including a welcome bonus offer of 80,000 membership reward points. The value of these points is discussed, as well as strategies to increase their worth. The video also mentions the 5x points earned on flights and hotels booked through the AmEx travel portal, as well as access to airport lounges and global entry/TSA pre-check.

Overall, the video concludes that if you travel frequently and value the benefits and credits offered by the card, it is worth the annual fee.

• The welcome bonus offer is currently 80,000 membership reward points after spending $6,000 in the first six months.
• Earn 5x points on flights booked directly with airlines or on the AmEx travel portal, up to $500,000 annually.
• The welcome bonus offer, combined with average monthly spending, can bring the value of the card to around $1,400.
• If you travel frequently, value status, and enjoy lounge access and upgrades, the card is worth it.
• Even if you don't have a high income or the best credit score, there are strategies to increase your chances of approval.

Amex Platinum Card - Worth the $695 Annual Fee? - YouTube

Benefits of the American Express Platinum Card

• The welcome bonus offer is currently 80,000 membership reward points after spending $6,000 in the first six months.
• 80,000 points are worth about $800, but the value can be increased by transferring points to partner airlines or hotels.
• Earn 5x points on flights booked directly with airlines or on the AmEx travel portal, up to $500,000 annually.
• Earn 5x points on prepaid hotels booked through the AMX travel portal.
• Earn 1x points on all other purchases.

Value of the American Express Platinum Card

• The welcome bonus offer, combined with average monthly spending, can bring the value of the card to around $1,400.
• Booking directly with airlines using the card can result in a significant number of points earned.
• The card offers access to global entry and TSA pre-check, as well as access to various airport lounges.

Is the American Express Platinum Card Worth It?

• If you travel frequently, value status, and enjoy lounge access and upgrades, the card is worth it.
• Consider your own income level when deciding if the annual fee is worth it.

Amex Platinum Card - Worth the $695 Annual Fee? - YouTube

How to Get Approved for the American Express Platinum Card

• Even if you don't have a high income or the best credit score, there are strategies to increase your chances of approval.
• Look for Amex Platinum Card match offers for higher welcome bonus points.
• Be aware of the once in a lifetime rule for claiming welcome bonus offers on American Express cards.

Benefits and perks of the Amex Platinum Card

• For frequent travelers, the benefits of the Amex Platinum Card can make it worth the $695 annual fee.
• The card offers access to travel portals and perks such as Marriott Gold status and status at car rental agencies.
• Even if you don't value the Amex Platinum, there are other credit cards with lower fees that may be a better choice.
• The Capital One Venture X Card is a good option for someone looking for a premium travel card at a lower cost.
• If you make at least $60,000 a year, the Amex Platinum Card is definitely worth it.

Tips for maximizing credit card rewards

• Collect welcome bonuses as often as possible by getting new cards and paying them off on time.
• Start a business or side hustle to increase your income and earn more rewards.
• Consider downgrading to a different card, such as the Green Card, if the Platinum Card no longer suits your needs.
• If you're unsure about whether the Platinum Card is worth it for you, you can message the video creator for personalized advice.
• The video creator is also starting a business to help people find the best credit card offers and determine which cards are right for them.

Watch the video on YouTube:
Amex Platinum Card - Worth the $695 Annual Fee? - YouTube