The Platinum Card from American Express would be the perfect credit card for fans of the Real Housewives franchise. American Express is a well-known credit card issuer known for providing secure ways to make purchases both in person and online. In case of any fraudulent activity on your card, don’t worry.
Their Fraud Protection Guarantee ensures that you are not held responsible for any charges. While there have been some security incidents involving American Express customer information in recent years, they were primarily due to security breaches at external sites where customer data was stored or actions of former employees.
Advantages of the AMEX Platinum Card
The American Express Platinum Card offers a variety of reward options, including earning American Express Rewards points on every purchase which can be redeemed for groceries, gas, travel or statement credits on eligible card purchases. Additionally, cardholders have access to a wide range of travel perks such as complimentary access to airport lounges through the American Express Global Lounge Collection, an annual $200 travel credit, benefits at Fine Hotels + Resorts and status upgrades with hotel loyalty programs.
Travelers departing from Toronto Pearson International Airport specifically can also enjoy perks like priority security lanes, complimentary valet service and discounted parking rates. The American Express Platinum Card provides a wide range of insurance coverage including protection for trip cancellation, but that’s not all.
Also included are: lost baggage, car rental theft and damage, and accidental death and dismemberment. Cardholders also have access to unique dining, entertainment and wellness events through American Express Experiences and can take advantage of exclusive tickets and pre-sales through American Express Front of the Line.
Some other perks:
One of the main perks is the unlimited complimentary access to the American Express Global Lounge Collection. This gives cardholders access to a network of over 1,300 airport lounges worldwide. Additionally, cardholders receive a $200 CAD Annual Travel Credit that can be applied to a single booking through American Express Travel.
Furthermore, they can receive up to $100 CAD in statement credits every four years through the Annual NEXUS credit. Travelers departing from Toronto Pearson International Airport in particular can take advantage of priority security lanes, complimentary valet service at Terminal 1 and discounted parking rates.
Cardholders also receive elevated hotel services such as 4:00 p.m. late check-out, complimentary daily breakfast for two and more at over 1,100 properties worldwide. They also have the opportunity to get fast-tracked to the higher tiers of leading hotel programs around the world without having to fulfill the usual qualifying criteria.
American Express Platinum Cardholders also have access to exclusive offers and deals through American Express Travel Online and American Express Experiences, as well as exclusive pre-sales for concerts, shows and other events through Front of The Line perks. Additionally, cardholders have special privileges like skipping lines and accessing exclusive lounges at popular Toronto venues like Budweiser Stage and the Ed Mirvish Theatre.
Making the best use of your AMEX Platinum Card
You can save several hundred dollars a year with the Platinum Card’s most enticing benefits, such as annual travel credits, airport lounge access, and upgraded hotel service. When you enroll in NEXUS, you will receive an annual $100 credit every four years when you charge the NEXUS application or renewal fees to your Platinum Card. Use your credit card to pay for travel expenses.
Travel purchases must be charged in full to your American Express Platinum Card for almost all insurance coverage. Don’t forget to consider earn rates. When you use your American Express Platinum Card to purchase dining, food delivery, and travel, you’ll earn the highest earnings rates. Make sure you pay your balances, since cards with annual fees of $699 won’t pay off if you accrue interest charges.
Disadvantages of the AMEX Platinum Card
The American Express Platinum Card has a considerably high annual fee of $699 and to make the most out of it, frequent usage of lounge access and hotel upgrades by frequently booking flights and hotel rooms is necessary. Some of the travel perks, such as priority security screening, are only available to cardholders who fly out of Toronto Pearson International Airport.
So if you live in another province or don’t usually use Pearson, those benefits won’t be very useful. Additionally, the card’s insurance coverage is comprehensive; however, it does not cover cardholders who are 65 years or older for out-of-province/country emergency medical insurance.
Do you need the American Express Platinum Card?
The American Express Platinum Card is most beneficial for those who make enough purchases to make use of the welcome bonus and frequently use the premium travel perks, such as complimentary airport lounge access and upgraded hotel services. This is especially true because the card has a high annual fee of $699.
To make the most use of your American Express Platinum Card, it is important to at least recoup the cardholder costs. According to NerdWallet, to offset the card’s annual fee of $699, you need to earn at least 34,950 points, which can be achieved by spending at least $11,650 in the card’s highest category of earning, which is 3 points per dollar.
The American Express Platinum Card’s highest earn rates are on dining, food delivery and travel purchases, therefore, cardholders will earn the most Membership Rewards points by frequently spending on those categories. The card also offers elevated travel perks, making it most beneficial for individuals who frequently travel by air. The American Express Platinum Card might be a good fit for you if you plan to use it to pay for travel, dining and food delivery purchases and frequently travel to take advantage of its many travel perks.