American Express Platinum – How to apply

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This credit card is perfect for those who want many benefits and enjoy all related advantages.

The American Express Platinum Card is packed with great benefits for people who travel often or enjoy luxury perks. With access to airport lounges, travel credits, and rewards points on flights and hotels, it’s a card designed to make your life easier. 

While the annual fee is high, the rewards and benefits can be well worth it for regular travelers. Read on to find out how the American Express Platinum can help you make the most of your travels.

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How does the American Express Platinum work?

The American Express Platinum Card works like a charge card, which means it doesn’t have a set credit limit. Instead, your spending ability is based on your spending patterns, payment history, and credit profile. 

However, one key difference from a typical credit card is that you need to pay the full balance each month. American Express also offers flexibility with options like “Pay Over Time,” where you can carry a balance on eligible purchases, but this comes with interest charges.

Cardholders can use the American Express app or website to keep track of their purchases, view statements, and redeem rewards points. 

The card also offers additional perks that can enhance the travel experience, such as lounge access and travel credits.

Main benefits for the American Express Platinum

One of the standout benefits is the ability to earn 5X points on flights booked directly with airlines or through American Express Travel, making it a great choice for anyone who spends a lot on travel. Additionally, cardholders can earn 5X points on prepaid hotel bookings made through Amex Travel.

The card also gives you access to the Global Lounge Collection, which includes over 1,400 airport lounges around the world. This perk is perfect for making your travel experience more comfortable, especially during long layovers.

For those who enjoy fine dining, the card offers Global Dining Access by Resy, which lets you secure reservations at some of the best restaurants globally. Plus, with $200 Uber Cash and $240 Digital Entertainment Credits, you’ll be able to enjoy dining and entertainment benefits regularly.

There are also travel credits like the $200 Airline Fee Credit, which can be used for incidental airline fees, and up to $100 in statement credits for shopping at Saks Fifth Avenue. These rewards and benefits can add up quickly, especially for those who travel or dine out often.

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Cons for the American Express Platinum

Despite all its perks, the American Express Platinum Card does have some downsides. The most significant drawback is the annual fee of $695, which is high compared to other cards. For some, this fee might not be worth it unless they’re able to take full advantage of the benefits.

Additionally, the card’s rewards structure is geared mainly towards travelers, so it may not be the best option for those who don’t travel often. If you don’t spend much on flights, hotels, or dining, you may not see as much value from the rewards points.

Another downside is that the card requires excellent credit for approval. If you have a lower credit score, you might not be eligible. Plus, while the card offers flexible payment options like “Pay Over Time,” carrying a balance on your card means paying interest, which can add up quickly.

Lastly, some of the benefits, such as travel credits or dining perks, require you to make purchases with specific providers or enroll in certain programs, which may limit flexibility.

APR and Fees

The American Express Platinum Card comes with a variable APR between 20.24% and 28.24% for balances carried on the “Pay Over Time” option. However, since the card is a charge card, most users will pay off their balance each month, avoiding any interest charges.

The card’s annual fee is $695, which covers all the premium benefits. While this fee might seem high, it’s important to note that it’s offset by the travel credits, lounge access, and other perks if you use them regularly.

Other fees include a late payment fee, which can be up to $40, and a cash advance fee of 5% of the amount or at least $10. There are no foreign transaction fees, which makes it a good option for international travel.

How to Apply for the American Express Platinum

Applying for the American Express Platinum Card is simple. You can start by visiting the American Express website and reading through the card details. Once you’ve decided, click on the “Apply Now” button.

To apply, you’ll need to provide basic personal information such as your name, address, Social Security number, and annual income. American Express will then review your credit profile to determine your eligibility. While the card is designed for those with good to excellent credit, they usually provide a decision quickly, often within minutes.

If approved, you’ll receive the card in the mail within a few business days. Once it arrives, you’ll need to activate it online or via the mobile app before you can start using it.

After activation, you can begin using the card immediately and start enjoying the rewards and benefits. 

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