How to justify the Amex Platinum $1450 annual fee?

I’ve been with Amex Explorer for 4 years and before that with Platinum Edge for 4 years.

I read lots of people sees Platinum Charge Card as the best Amex card out there.
But the annual fee is to high where as Explorer $395 Annual Fee is ‘replaced’ with $400 Travel Credit

I know Platinum Charge offer better feature such as

  • higher 2.25 points per $1 compared to 2 points per $1
  • extra qantas frequent flyer for transferring option
  • insurance is included in both cards
  • both has access to lounge
  • fine hotel & resort program and gold status on certain hotel program

can anyone with Charge card help explain to me what it is that you value that you decided to pay $1450 for the card

*ps apart from first year 200k points sign up bonus

Thank you

Hi @astroboy

Only you can decide whether this card is worth it, because you know your spending and travel habits. Here are a few random thoughts from me in no particular order:

  • Many professional organisations and trade unions have a deal with AmEx where members can get the Platinum card for a reduced annual fee of $1200. It’s worth checking to see if you belong to such an organisation.

  • AmEx Platinum cardholders also get a free Platinum Reserve card. This comes with an additional travel credit of $400 (meaning that cardholders get $850 worth of travel credits). Sadly, AmEx recently discontinued the extra $400 credit for new applicants, even though it’s continuing for people who had the card beforehand.

  • For the past two years, AmEx has given Platinum cardholders a $400 refund for purchasing everyday items (eg. from supermarkets). This is an unannounced benefit and there’s no guarantee it will continue – but for me it’s been a serious factor in deciding whether to cancel my card or keep it.

  • If you travel relatively frequently, the free Accor Plus membership can easily be worth many hundreds of dollars a year, in the form of cheap (or, one night a year, free) accommodation, room upgrades and dining discounts.

So I’m personally keeping the card because the benefits outweigh the $1200/year that I pay: $850 worth of travel credits, Accor Plus, the grocery credit, good points earning capacity, etc. But for you the proposition may be very different, especially if you have to pay the full $1450 and you don’t receive the $400 Platinum Reserve credit.

All I can say is that you should do the sums carefully and take into account your situation!