Why would anyone get an Amex Platinum?

[cowboyguy]

$400 annual fee, NOT waived for the first year. Most of the benefits are same as PRG.

Why would anyone do that?

[bmd0224]

There are tons of reasons which justify the annual fee of $450. Among the benefits there are mostly for people who travel frequently.

There is an offer out there if you are an Ameriprise client to get the card with the annual fee waived for the first year. 

[bmd0224]

http://www.dailymarkets.com/creditcards/american-express-platinum/

[fixingitohio]

This is my goal card.  Had one many years ago.  Lost it (in good standing) so I hope to garden and get back in with them the end of this year or January of 2014 for max backdating.

If you travel (which I'm doing more and more of for my job) I think this could be a great card.

+450 (fee for card)

-200 (airline fee reimbursement)  At $50 a roundtrip for one bag, this will be earned back in 4 trips.

-100 (GlobalEntry credit) Use it to pay for GE and get up to $100 back.  Some have gone the Nexus -> GE route which is $50 and done them for both themselves and their spouse and got the $100 credit.

Net cost first year $150

Add in airline club access ($27 each time to pay as you go I think) and the MR points you can redeem towards air travel and you're probably ahead, if that's your thing.

Also, to my knowledge it's the only US Amex with EMV chip capability currently (although chip and sig vs. chip and PIN).  Useful if you travel overseas.

Again, my goal card.

As a question to the Amex gurus, is the qualification the same for Green, Gold, PRG and Platinum in terms of credit profile with the only differentiator being your willingness to pay the fee?  When I get back in with them, I'd like to go with Platinum because of travel vs. Green and work my way up (which I did way back when).

If I can get back in, Member since 1993 will be pretty nice, especially if I can parlay in to a BCE or BCP.

Thoughts?

[kilj0y]

I am active duty military so annual fees are waived for me. Thats why I want one.

[enharu]

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@cowboyguy wrote:

$400 annual fee, NOT waived for the first year. Most of the benefits are same as PRG.

Why would anyone do that?

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The perks.....

Including:

1. No forex. Other charge cards, PRG included, have forex fees. If you spend quite a bit overseas, this will save you a considerable amount of money.

2. $200 airline fee credit. That's almost half of the AF cost. Then again, you got to be travelling to use this perk.

3. Airport club access with priority pass. Very nice if you travel a lot.

4. Global entry fee credit. You have to travel internationally for this to make any sense for you. 1/5 of the AF cost essentially.

5. Concierge service is much better than other charge cards. Better customer service as well for Plat customers, don't think you will get any outsourced CSRs with the plat if that matters.

6. Gold SPG status.

7. Preferred seating area at many venues, including Platinum seating area for Staples Center. And other concert / restaurant perks.

And many more.

The Plat card is NOT a rewards card. If your main priority is a rewards card, you will find many other much more attractive options.

It is however a very good perks and service card. The benefits of the PRG are definitely not the same as the Plat in many different ways. It's kinda unfair to compare theese 2 cards because they are very different cards that serve different purposes.

If you're looking for top of the line service and perks, this is one of the best cards to consider. 

[RhubarbPie]

Agree with what others have said. Most of the bene's are not the same as PRG. To me, its a much better value than PRG (aside from the fact the PRG's AF is waived the first year. however, if I didn't get in on that 50K points deal at the beginning of the year, I would've have opened a PRG). But the benefits are only worth it if you travel.

For the $125 fee, PRG doesnt offer much, and membership rewards are worth way less to me than URs, for example, which I can get for $95 a year from Chase (with first year AF waived on both Chase Ink and CSP). I pretty much only find value in transfering MRs to BA (which I use as my secondary program for short-haul flights) when there is a transfer bonus.

[romey050500]

You don't have to be an Ameriprise client. You just have to use the Ameriprise link.

[scenery_guy]

Apparently it's important to have when you're a pirate.  also it's not a Visa Black. 

[GaTech]

One of my goals is to have a PRG and AMEX Platinum charge card to rack up the MR points. Mhm