Posted on 06/16/2024 6:27:46 PM PDT by ChicagoConservative27
Price is only an issue in the absence of value, and the American Express Platinum Card brings value. Keep reading as we share the valuable benefits that may make the $695 annual fee seem cheap compared to other credit cards that don't offer as many benefits.
Yes, the American Express Platinum Card is one of the most expensive credit cards on the market. Depending on your spending and amount of travel, you may get huge value from this card. On the other hand, some of you may be better off with another credit card with a lower annual fee.
(Excerpt) Read more at forbes.com ...
“No it is not worth that money.”
You can get your $695 back if you work it.
Good point. My daughter had the Chase Sapphire Visa and therefore had Priority Pass already (as I remember it). So the net effect was to add the just 21 Amex lounges to the 1000 or so Priority Pass lounges, plus a few other lounges that have tight access requirements.
It’s not just that. It’s the security. Somebody who sees you pull out that card is going to know that you probably have a hefty balance.
“We don’t need any more. Credit is a trap anyways. It’s way too easy to over spend and get hammered with fees. What a waste of money.”
I am 77 and never got hammered.
Get the Delta Platinum Am Exp as it is much cheaper, and the benefits are good. Free bags on flight, free annual flight, ...
I have just one, with *gasp* Citibank. Goes back into the ‘70s. Citi has been extremely good at catching frauds. I pay it off 100% every month. Living in debt gives me hives, especially at 18% interest.
Every person’s situation is different.
I have a Southwest Airlines visa. I put all my business expenses on it an use the points for personal travel. Still have about 200K points on it. I also have a AMEX green card since 1985 as a backup in case there is a problem with the Visa. I think I pay $50 a year for the green card, but I use the points off of it for Home Depot gift cards which I use a lot.
Say you’re in construction, and run all your materials through that account. You can easily earn some round trip airfares for two with your points.
Regional banks, probably. Local banks, likely not. Local banks (and perhaps some regionals) may have their logo on a card, but it's actually issued by a larger institution.
https://www.americanexpress.com/en-us/account/get-started/platinum/benefits-overview
Certainly not worthwhile on the way I live.
Many CEOs would probably like it though.
Everyone is different. You have to do the math to decide if it’s a good deal or not.
If you can use the benefits to a value more than the fee, then yes. And the sign on bonus points more than cover the first years fee. I have the Sapphire Reserve, which makes all my acquired points worth $0.015 in their travel portal. They act as my travel agent and book my air/cruise/hotel/car with points. I’ve saved a couple thousand dollars just this year, but that’s because I had been saving up points (on a no fee card) for years, and had about 1 million points. Several times when I flew out of San Diego, I had breakfast or lunch for myself and a guest for free, including drinks, at the PGA Tour Grill. Included restaurants and lounges vary depending on airport. Some are great, some just OK. Some airports don’t have a lounge that is covered.
For me, the fee is only worth it until I blow through all my saved up reward points. Once they are gone, I’ll cancel until I build up enough that it makes financial sense.
I'm not looking forward to the CapOne takeover of Discover. They are going to have to make back that $35 Billion out of somebody's pocket.
I haven’t had a credit card since at least 2000. It’s a dumb thing for people to have. Yep. My credit score has zeroed out. I’m a big believer in Dave Ramsey. But idiots don’t listen to him.
The banksters are rich and in bed with the feds lockstep. Aside from this story the credit cards are usury legalized.
Just pay by cash/check and choke the bastards off. Soon you will find that extra six percent in your bank account although inflation is killing our way of life there is no reason to give money to these thieves.
“ I am going to pay someone to loan me money?”
That’s the idea of all loans.
Yeah, I get it.
You’re right in that I pay off all every month. So I don’t pay to use it.
No annual fees.
They actually do give credit back, so the way I do it they pay me.
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