Platinum Charge Card - is it worth if?

[zig]

Hi all

I'm a new user and have enjoyed reading many of the posts and getting some tips. Would appreciate any advise on this subject. I have received another invitation to take up the Platinum Charge Card. I have been a Gold holder for many years and am relatively happy with the product.
I guess my question is 'is the Platinum Card worth the $900 annual fee?" Perhaps some of you who hold the card could give me your opinion. Also if anyone has any information about the companion airfares I would appreciate it - this would be one reason why I might consider paying the annual fee.

Thanks for your thoughts!

 

[ansettrule]

Hi all, I am wondering what is the difference between Platinum charge and normal platinum credit card???

 

[NM]

A Charge Card must have the balance paid in full by the statement due date. Failure to pay the entire statement balance by the due date will incur late payment penalties. Such penalties are significantly higher than any credit card interest rate.

A credit card has a minimum amount that must be paid each statement cycle, but the remainder can be carried over to the next month and incur interest charges.

Amex offer different benefits with the charge and credit cards, as well as charging different annual fees.

 

[oz_mark]

As someone who was offered the card, I did look to see if I would extract $900 a year value out of it, and based on the published benefits it was hard to see that I would get anywhere near that.

HTH

 

[jasonja3]

Hi all
I guess my question is 'is the Platinum Card worth the $900 annual fee?"
Thanks for your thoughts!

Simply..... NO.

The Plat CC is similar in benefits, but much cheaper. The companion fares are not very competetive compared with other fares around. Anything you request from their lifestyle call centre is not price competetive, so if you want to pay extra for the convenience, it might suit.

 

[jakeseven7]

In general... why would an individual - want a charge card then? If it is so much more expensive with similar benefits, why not just get a c/c and pay off in full monthly...?

I use a corporate charge card (amex) for work but I guess thats different for a business as they would never not pay it off monthly.

 

[Myrna]

I recently took up the Amex Platinum card via the CPA and it cost $295 a year. I had a free Amex gold card before this (also with CPA). I am planning to use the free domestic trip this year to visit my sister in Adelaide (from Sydney) - so I guess the cost of this trip would be almost equivalent to the annual fee. Also, I am banking on the 1.5 points for each $ spent. However, I am a bit weary about the FF benefits after APA control. It is anyone's bet at the moment.

 

[NM]

In general... why would an individual - want a charge card then? If it is so much more expensive with similar benefits, why not just get a c/c and pay off in full monthly...?

The benefits are different between the Charge Card and the Credit Card. Look at the Amerx web site for the details of each. For some people, they may well perceive the benefits of the charge card represent value for their situation. I am not such a person.

 

[oz_mark]

I recently took up the Amex Platinum card via the CPA and it cost $295 a year. I had a free Amex gold card before this (also with CPA). I am planning to use the free domestic trip this year to visit my sister in Adelaide (from Sydney) - so I guess the cost of this trip would be almost equivalent to the annual fee. Also, I am banking on the 1.5 points for each $ spent. However, I am a bit weary about the FF benefits after APA control. It is anyone's bet at the moment.

This would be the Platinum credit card, rather than the debit card.

 

[zig]

Thanks for your comments everyone - much as I thought it probably would be difficult to achieve $900 of benefit each year.

 

[Mal]

A Plat charge card does give you a fee waiver on the Plat Credit Card. Good for the free flight.

Agree with others here though. I don't see benefits in a Plat Charge card (or Centurion). Credit cards are more flexible, and retain (in most ways) similar kinds of benefits.

You can get little presents from Amex with a Plat Charge card though. As an example, they gave out Hilton Gold cards a couple of years ago to some/all Plat Charge card members.

 

[oz_mark]

A Plat charge card does give you a fee waiver on the Plat Credit Card. Good for the free flight.

Agree with others here though. I don't see benefits in a Plat Charge card (or Centurion). Credit cards are more flexible, and retain (in most ways) similar kinds of benefits.

You can get little presents from Amex with a Plat Charge card though. As an example, they gave out Hilton Gold cards a couple of years ago to some/all Plat Charge card members.

While I see such unpublished benefits as having some value, it does seem a bit hit and miss as to whether there will be anything in a particular year. In addition, even these freebies seem to have been downgraded over the years. Not much point in working them into the cost-benefit anaysis. If the free flight is worthwhile, may as well just go the credit card.

 

[brucek]

I have a similar set of questions.

I have a good friend who insists that he gets great value from his Amex Pt Card (I think it is a charge rather than a credit card). He leaves for South Africa today and the Amex Pt Card travel service got him a business class flight with Singapore Airlines, Mel-Sin-'joberg'-sin-mel for about A$5.5k compared to the normal asking price of about A$12k. This alone would seem to make the card worth while.

We are planning a trip to Hawaii next April for a family wedding (step daughter getting married over there) and I'm trying to decide if Amex Pt membership would be worthwhile or are there other ways of geting a good fare, hotels, and etc?

1. How does the Amex Pt Card stack up against other similar products such as the Citibank Pt card, for instance?
2. Does anyone have any good ideas about securung good deals to Hawaii?

Cheers and tnx in anticipation

 

[shillard]

I have a similar set of questions.

1. How does the Amex Pt Card stack up against other similar products such as the Citibank Pt card, for instance?
2. Does anyone have any good ideas about securung good deals to Hawaii?

Cheers and tnx in anticipation

1. Not very well - the $900 annual fee is a complete wank. Therefore, those willing to pay it.....

There is little that it offers (travel insurance, travel services, a magazine - wohoo! - companion fares, etc) that you can't get with a Platinum Credit Card similar, for much less. Cheap flights are hardly the exclusive domain of the Amex travel service, and if my experience with their corporate division is anything to go buy, they're generally hopeless.

2. Jetstar - Cheap Flights, Low Fares all day everyday from Australia's newest Cheap Fare airline

 

[NM]

I have a good friend who insists that he gets great value from his Amex Pt Card (I think it is a charge rather than a credit card). He leaves for South Africa today and the Amex Pt Card travel service got him a business class flight with Singapore Airlines, Mel-Sin-'joberg'-sin-mel for about A$5.5k compared to the normal asking price of about A$12k. This alone would seem to make the card worth while.

Any TA has access to a fare basis of C2 for SQ travel MEL-JNB-MEL for A$6385. Of First Class for $A7560 (fare basis FC2).

The full IATA fare for that route is A$10,347 using fare basis CRT, and in first class for A$12,979 (fare basis FRT).

So not too sure how accurate the "about A$5.5K" is. Could it really have been about $6.5K and actually booked as the published C2 fare? Certainly the $12K is not accurate as a "regular fare", unless booked as two one-way business class fares using COW fare basis, which is a very inefficient and expensive way to book travel.

 

[Mal]

Any TA has access to a fare basis of C2 for SQ travel MEL-JNB-MEL for A$6385. Of First Class for $A7560 (fare basis FC2).

Bestflights is offering F for MEL-JNB for $6699 (+taxes, + fines etc) from Singapore. It's possible that Amex had access to an even better offer, but I agree the saving isn't that much over what else you can purchase.

 

[turtlemichael]

1. the $900 annual fee is a complete wank. Therefore, those willing to pay it.....

I'm reliably told that it's meant to be the most popular se8ual activity, so I'm prepared to risk it! At least it is a cheap date

For my $900 I have got in the last year 1) enough MR points for a substantial amount of travel on QF and particularly VS 2) a return trip Sydney-Perth 3) travel insurance for self and partner 4) USD600.00 in onboard credits on two cruises paid for with the card 5) a good working relationship with an Amex TA. and 6) replacement of my card when away from home, after my wallet was stolen, in 4 hours.

Now I am sure that I could have got most or all of this in other ways at some sort of cost which may have even been lower. But sometimes you make decisions based on past record and the perception of service and therefore I'm happy with my outlay. YMMV

 

[sinbad8880]

Hi all

I'm a new user and have enjoyed reading many of the posts and getting some tips. Would appreciate any advise on this subject. I have received another invitation to take up the Platinum Charge Card. I have been a Gold holder for many years and am relatively happy with the product.
I guess my question is 'is the Platinum Card worth the $900 annual fee?" Perhaps some of you who hold the card could give me your opinion. Also if anyone has any information about the companion airfares I would appreciate it - this would be one reason why I might consider paying the annual fee.

Thanks for your thoughts!

I have had the Plat Charge card for the last twelve months and here are my views of its worth:

1. 1.5 points for every dollar spent up to $200k ($100k for the accompanying credit card version) and I have found this to be very good and the best offer in the marketplace at the moment;

2. Companion airfare deals - complete waste of time. I tried for 3 different international trips and price specials elsewhere beat their "special" hands down;

3. "Free" Room upgrades at certain hotels - I booked thru Amex travel again 3 times for 3 different locations and was never given an upgrade as these were always unavailable at check in time. Amex charge you the full rack rate for the room (sometimes more) for this "privilege";

4. Travel Insurance - very good but available on other less expensive cards;

5. Concierge Service - used this a couple of times for last minute bookings at popular restaurants. Bit of hit and miss for this one. Same goes for tickets to concerts etc

6. Free airfare (plat credit card) - good value as it includes taxes.

I will probably cancel my Amex Plat charge card at renewal and just use the Plat credit card since its fee is a lot lower and benefits not that less.

 

[simongr]

I have the Gold Charge Card. I like teh chartge cards with the enforced disciplines of complete repayment each month - yes I know I could just pay it off each month. It also gives me no credit limit so for one thing it is not counted in my debts when I apply for loans etc - but more importantly given I have a A$25K limit on my Corporate Amex I at least have the free credit space if anything goes wrong whilst travelling (more important last year when at zero hours notice I had to go to the US and then extended my trip into the UK).

It also means that if anything happens whilst I am travelling mrssimongr has a card that can pay for anything that goes wrong (flights to collect body, funeral, major car repairs, hospital bills - anyuthing) which again gives me peace of mind.

I have just been offered (pre-approved - subject to conditions (so I am not sure what pre-approved means...)) the Plat Credit Card. With that and a fee of $350 per annum I am also offered to keep my Gold HCarge card and that fee along with my asscent fee will be waived. I think the additional cards are free.

I am still wavering on whether I should take up the offer... at least it will match my AA card