Don’t let Amex Platinum’s ‘Lifestyle Benefits’ distract you

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• The Platinum Card® from American Express
  This comes with the potential to receive thousands of dollars in annual credit.
• Many customers aren’t able to use the new benefits of card cards because they aren’t practical.
• This card is worth keeping year after years because of seven pillar benefits.
• Check out Insider’s guide on the best American Express cards.

Did you know? The Platinum Card® from American ExpressYou get up to $6,099 annually in statement credits

American Express is constantly improving and updating the product. A range of benefitsThis year, you can get the Amex Platinum. You will get this card if you can use every credit available. Over $6,000 in value You can get more than $7,000 in value by combining this card with other memberships and programs. Amex is an Insider Partner.

This knowledge makes the $695 annual card fee seem less bad.

That’s at least how the card is advertised. Amex Platinum has so many benefits and credits that it is almost unrecognizable, it’s a wonder. Technically possible to get many thousands of dollars in value each year from its perks — though, for most of us, it’s virtually impossible to do so.

Let’s look beyond the obvious benefits of this card to see what the Amex Platinum really is worth for the average customer.

Here, we’re focusing on the perks and rewards that each card offers. If you have to pay interest or late fees, these cards will not be worth the cost. You should pay your entire credit card balance each month. Make timely payments and only pay what you can afford.

Do not let Amex Platinum’s niche credit distract you from its true value

Amex Platinum has come under fire for providing benefits that aren’t beneficial to everyday cardholders.

These credits can distract cardmembers who are interested in the card’s true value. Take a look at this:

• To get up to $300 in annual credits, which can be divided into $25 monthly increments. Equinox** — a network of luxury gyms that exist only in major cities. A membership can cost as much as $2,500 Annually, more than $3,000. This credit can be used for any type or membership starting November 3, 2022 (including Equinox+ via app). The $300 annual credit is available all at once starting in 2023.
• $300 in statement credits for you You can use your card for a SoulCycle bike-at-home purchase. This credit can be used to purchase up to 15 bikes each year, so you can receive a maximum of $4,000. These bikes cost $2,500 each.
• Annual income of up to $155 Statement credits towards Walmart+ (divided into monthly increments of $12.95)**. Walmart+ is $12.95 per month or $89 for a year plus taxes. Walmart+ is a great option if you are looking for something more than just a credit. The subscription costs $7.42 per monthly when purchasing a yearly membership.
• An annual income of up $100 Saks Fifth Avenue Credits (divided into $50 increments — the first to be used between January and June, and the second to be used between July and December)**. Saks Fifth Avenue is a great place to shop, but you will find yourself visiting their website twice a year in order to avoid losing $100.

These are all possible statement credits worth more than $5,000, which is quite extraordinary. The above perks won’t help you save more than $100 a year unless you are opening a SoulCycle class.

These 7 Amex Platinum Benefits are the reason you should get the card

Let’s pretend these benefits don’t exist. There are a few perks that make the card worth keeping. Other credits that you are eligible to use are a nice bonus. The Amex Platinum is a great option for my wife and me. It provides enough value that we can continue to pay the $695 annual fees.

These are the top benefits of the Amex Platinum that make it worth your while.

Uber Cash Annually: Up to $200

This credit is split into monthly increments of $15 per month, and $35 per month for December. You can use the monthly credit towards Uber Eats even if you don’t use Uber for transportation. $15 worth of food. You can pick up your food directly from the restaurant.

Amex Fine Hotels and Resorts: Up to $200 per year in hotel credit

You can get as high as a $200 credit to use when you book a hotelWith The Hotel Collection, minimum two-night stay Amex Fine Hotels and Resorts (one night minimum). Amex Platinum Platinum card holders have access to credit that is almost as good as cash, with Amex Fine Hotels and Resorts being a key reason to apply for the card.

It provides elite-like benefits in luxury hotels. It offers room upgrades (when possible), late checkout, free breakfast, and other unique amenities such as $100 in dining credits.

Annual airline credit up to $200

After you American Express will help you select your airlineUp to $200 annual credit towards incidental fees.** You can use these credits for things like baggage fees, seat selection, etc.

These credits are used organically every year so it is a benefit that I consider almost as good as cash.

Get up to $100 in Global Entry/TSA precheck statement credit

A $100 credit will be issued to you towards either one Global Entry or TSA PreCheckApplication (every 4.5 year). You will receive a full reimbursement of your application fees.

TSA PreCheck allows for you to wear your shoes, belt and laptop while going through security at domestic airports. Global Entry makes it possible to bypass the lengthy immigration lines for returning to the US from overseas. Global Entry is the best option, as it comes with TSA PreCheck privileges.

Up to $189 annual CLEAR® credit

CLEAR® is a trusted traveler program that lets you skip the line at participating Domestic airport security checkpoints (and some ports and stadiums) It usually costs $189 annually, so this Amex Platinum CLEAR CreditThis will fully offset your costs.**

However, there are easy ways to get discounts on CLEAR®, so you probably won’t use the full $189 credit for yourself. The annual cost of a United Airlines or Delta frequent flyer program can be reduced to $119. Fortunately, you can use the credit to pay for anyone’s CLEAR® membership, so this credit will go a long way toward offsetting a couple’s membership fees.

This program is a great complement to TSA PreCheck, which will make your TSA experience very short. The program allows you to speed through the line without having to remove shoes, belts or laptops.

Annual digital entertainment credits of up to $240

The card allows you to receive a maximum $240 annuallydigital entertainment creditsDivided into monthly increments of up To $20**. This credit can be used to offset Hulu and Disney+ and ESPN+ (including Disney Bundle), Peacock and Audible as well as SiriusXM and The New York Times.

Many of these subscriptions are significantly cheaper when you purchase a yearly plan — and some you can get for free with a library card. I don’t personally make much use of this benefit — but if you’re a family that values Disney or subscribes to Hulu + Live TV, this credit is right up your alley.

Comprehensive airport lounge access

Amex Platinum offers the best in customer service. comprehensive airport lounge membership of any card on the market. You’ll have access to:

• More than 1,300 Priority Pass airport loungesWorldwide (2 guests free of charge)
• Amex Centurion LoungesThe renowned domestic lounge with hot meals and complimentary mixed drinks is widely regarded as the best (two guests are allowed up to February 1, 2002).
• Delta Sky Club loungesYou must have a Delta same-day ticket
• Escape Lounges
• Plaza Premium lounges
• Airspace lounges
• Some Lufthansa lounges

This benefit is hard to quantify, but it saves me hundreds of dollars annually on airport food and beverages. Referring to the Amex Platinum membership, a Priority Pass similar to this one costs $429 per Year. Similar Delta Sky Club memberships are available for $545 annually.

Bottom line

Amex Platinum is now using a coupon-book method to claim statement credits. While some statements credit may not be very valuable or useful to most cardholders, the Amex Platinum has changed to a coupon book approach. Even for the average person, the card has pillar benefits which make the annual fees worthwhile.

You can get up to $200 in Uber Cash, up to $200 in airline incidentals, $200 in hotel credits, CLEAR® membership credit, $240 in digital entertainment credits, and top-tier airport lounge access, this card is worth potentially $1,450+ per year to you.

The other benefits, including the huge welcome offer of 80,000 Membership Rewards® points after spending $6,000 on purchases in the first six months of card membership, are You get an additional bonus