– Platinum Card Offer

March 16, 2020

By Martin Norris

The American Express Platinum charge card is meant for those that have exceptional credit scores, that are willing to pay $550 upfront in annual fees. Those with letters containing codes should know that they are viewed very highly from a lender’s standpoint. The rewards program and initial offer on this card are great if you are a frequent traveler, though they aren't the best out there.

The American Express Platinum Card, pre-approved at, is a good card for those with great credit or better. The American Express Platinum rewards program shines when you use it to frequently book flights and hotels. If this isn't you, it's unlikely that the $550 annual fee will be justified.

However, it's also important to note that while the rewards program is solid with around a 1% return, the safety and rebate features are what make this card worth the fee. If you're not interested in remembering where to book, checking offers before committing, or extra travel insurance and purchase protection, this isn't the best travel card for you and you shouldn’t accept a offer.

The interest rate on the American Express Platinum card is whatever the prime rate is, typically around 4% and 4.25% as of this writing, plus 21.99%. As the Amex Platinum card is a charge card, this only applies to cash advances.

The American Express Platinum Card has no pre-set spending limit, though it does have a sort of ceiling on what they will allow you to charge without receiving payment. This is calculated by taking the information you initially sent with your application into account, as well as your credit and spending history. This information is not outlined at

At first, this could mean charges will begin to be declined once you have accrued a balance of as little as $1,200 in a month. For others, it could be somewhere around $10,000 or more. The number varies with your personal information. If you have a lot of large purchases to make, you may want to call in ahead of time to make sure they'll go through.


  • Annual Fee – $550 is the annual fee for the Amex Platinum charge card.
  • Cash Advance Fee – The fee for a cash advance is either $10 or 5% of the total amount of each cash advance, whichever is greater.
  • Foreign Transaction Fee – There is no foreign transaction fee for any foreign purchases made with an American Express Platinum card.
  • Late Payment Fee – Late payment fees for the American Express platinum card are up to $39.
  • Return Payment Fee -  Return payment fees for the American Express platinum card are up to $39.
  • Authorized User Fees – You will be charged a total of $175 per year for up to three authorized users on one account. Every authorized user after the third will each cost $175 per year. However, if you choose to add an authorized user as an Amex Gold Card cardholder, you can continue to do so for free.
  • Balance Transfer Fee – This is a charge card, which means you are not allowed to carry a balance from month to month. No balance transfer fee applies.
  • Fee to Re-Open Your Account – If for some reason your account is closed you may be required to pay a fee of $25 to re-open it.
  • Penalty APR – There may be penalty APR is you have a history of returned payments or missed payments. This rate is assessed on a case-by-case basis.

The American Express Platinum card works on a points system. You can get one point per dollar on all eligible purchases, and up to 5 points on every dollar spent on air travel and hotel purchases. Each point is worth roughly 1 cent when redeemed, though this will depend on the redemption method or offer.


The Amex Platinum card comes with benefits that may be worth more than the point system altogether. Not only that but using just a select few of these benefits each year will more than make up your annual fee. The benefits below are included for all eligible purchases made with your Amex Platinum Card.

  • Extended Warranties
  • Additional Baggage Insurance
  • Car Rental Insurance
  • $50,000 per Year in Purchase Protection
  • Travel Accident Insurance
  • Rebates on Travel, TSA, and Baggage Fees

Pros – Advantages of the American Express Platinum Card

In addition to the rewards points and travel perks, the Amex Platinum card offers several distinct advantages.

  • Grace Period Up to 31 Days – The grace period on the American Express Platinum Card is the same as the number of days in the calendar month in which the current closing date occurs. As a charge card, this is your final due date. You are not allowed to carry a balance and retain charging privileges.
  • No Foreign Transaction Fees – No matter what country you intend to purchase from, you will incur no foreign transaction fees.
  • Built-In Travel and Purchase Protections – Each Amex Platinum cardmember is entitled to the five different protections listed in the benefits section above and more.
  • 24/7 Top-Rated Customer Service – For what you pay just to have the card, you would expect great service, and that is one of the things American Express as a whole is known for.

Cons – Disadvantages of the American Express Platinum Card

There are just a few things that make this card less than perfect, though it's still quite close.

  • High Annual and Authorized User Fee – The annual fee isn't all that bad, considering what you get for it. However, the authorized user fee of $175 for the first 1-3 users is a bit much.
  • Lower Rewards Rate Than Similar Travel Cards – The basic points rewards system for this card is both harder to earn with and worth less than what similar cards offer.
  • Some Limited Rewards and Credits – Some credits and rewards have caps. Though many of these caps are more than the vast majority of people will ever spend in the given time limit.

Yes, the fee is high, but when you're looking at cards in the upper tiers, that's to be expected. Not only that but if you use even half of the benefits the card offers rather than paying for them yourself, you should be able to break even or better.

If you're all about both safety and luxury travel, the American Express Platinum card is your perfect match, so go ahead and take that promotion. While this may not be the best travel charge card for points rewards, the travel and purchase protection you can find under the card benefits will make up the difference to those that are safety conscious above all.

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