The BRUTAL UGLY Truth About The Amex Platinum Card
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- čas přidán 4. 08. 2024
- The brutal ugly truth about the Amex Platinum card.
The Amex Platinum Card is probably the most polarizing card in the credit card space.
I decided to make a video exposing the brutal ugly truth about the Amex Platinum Card.
American Express is known for their two prestigious cards, the Amex Gold and Amex Platinum Card.
With that being said, I recently did a poll on what people believe is the most overrated premium card and it was not favorable to the Amex Platinum Card.
This video addresses some of my concerns regarding the Amex Platinum Card going forward.
Do you believe the Amex Platinum Card is a good card?
#creditcard #creditcards #amexplatinum #creditcardadvice
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The annual fee for Amex Platinum is about to be $800 now!
Thanks for watching, John.
If I was to guess, I would guess that 90-95 percent of people wouldn’t be a good fit for the Platinum card. A 695 dollar annual fee is a tough pill to swallow and takes a lot of utilization of perks to justify that cost, and if you’re not using it, organically, what’s the use?
💯
Exactly
Thanks for watching, Tristin.
Not only utilizing the perks, but straight-up spend, especially luxury travel spend, to justify renewing the card. Welcome bonuses only go so far.
@@Fridge56Vet Facfs. There are so many things that I’d rather spend $695 on than a credit card’s annual fee.
This economy is exposing the reality that a $700 AF will not make you a jetsetting traveler. It doesn't matter what credits come with it. It takes effort to break even for the average person. Most people do not see an airport more than twice a year.
Good point. Thanks for watching.
Exactly
My opinion only. It’s $695, per year. How many millions of American have gym memberships and online subscriptions that they do not use resulting in the and more each year. If it’s not for you, you don’t like the fee, then don’t get the card plain & simple
Thanks for watching.
You make a great point about the facelift. It’s a little weird not to offer 5X on hotels without the portal, and at least 3X on restaurants. That trifecta stuff is annoying as hell.
Thanks for watching.
It's basically a FLEX card..let's be honest
Thanks for watching.
Well said. Amex needs to decide what is their target market and their current credits sends mixs signal.
Thanks for watching, Juan.
Nell, I truly do appreciate your take on this card. It needs to go out there for everyone to know that having it is NOT a Flex! Thank you my friend!
Definitely. Thanks for watching, Joe.
You are right on the money about the platinum card. I downgrade a while back because of the fee and not enough benefits for me. I had 8 cards with them and closed 4 again due to no real benefits but having AMEX. Now I don’t care about their name it’s more about whats in it for me.
Definitely. Thanks for watching, Nadirah.
Absolutely right! The platinum card is all over the place. I rarely use it. I use my gold card and blue cash card.
Thanks for watching, Dominique.
You got the memo too that it is Platinum Card week 😂 Great vid!
I appreciate it, Lani. Thanks for watching.
Most people with average credit can apply for and get approved for an Amex platinum. It's a charge card. Amex knows it's getting paid at the end of the month since users cannot carry balances month to month. Definitely a ymmv card depending on your usage scenario.
Thanks for watching.
Started with AX in 1982. Thanks another great video brother!
I appreciate it. Thanks for watching.
I’m feeling the lights WYS 🔥. I got the platinum last year but I think it’s not gonna make it next year in my wallet. The signup bonus for 125k was nice but I’m gonna see if they downgrade to hopefully a green card. I do like the purchase protection and that’s the only thing worth noting.
I appreciate it. Thanks for watching.
There was a rumor about couple of years ago about the Optio a card between the Platler and the Black card with a 1200 annual fee.
I remember that rumor.
Yeah, I remember that. It's something they should consider. Thanks for watching.
Very interesting
Thanks for watching, Betty.
Honestly, AMEX is making nobody keep the card.
Thanks for watching.
I will probably be dumping this in favor of another...I though the lounge access and some of the travel benefits would help more, but it's just not happening.
Thanks for watching, Ryan.
I’m an Amex fan but man, I couldn’t agree more with you. I only upgraded my gold to platinum because there was a solid upgrade bonus, but besides that I wouldn’t probably get the platinum. I love Amex customer service and I think they’re the best in the market but the card doesn’t quite fit in as a travel card and as you mentioned a lot of the credits and benefits doesn’t work as a travel card. If they could make the multipliers higher, it would be a fantastic card. I’m thinking to downgrade or cancel totally the card next year and get the venture x and the ritzcarlton card
Thanks for watching.
Thank you for the video. I agree with you. They are all over the place, but I bethere is A.
Reason behind The confusion. I think you're tossing a broad net. There is a lot of people that have the platinum car and I believe that not all of them need it. For a lot of travelers the capital one venture x card might suit their needs. The only reason I keep the card is because I got the morgan stanley version which comes with the free authorized user. And I fly about 8 times a year.Not a lot but more than most. I also have a centurion lounge in my home airport. Everybody situation is different. I shared my perspective because you were kind enough to share yours
Thanks for watching.
I currently enjoy the current version of the Platinum and the Hilton Aspire. I do maximize most benefits but those cards get evaluated every year to ensure they make sense to my travel needs. I don’t like the Equinox, Sacks and Walmart benefits. I think the CSR is the most overrated card. Thanks for the info Nell!🫵
💯 I shop at Saks anyways so the $100 is a bonus and the Walmart+ credit is clutch for Paramount+, discounts on gas and free shipping. Sometimes even free same day shipping. But yeah, the Platinum and Aspire are my Power Combo!
@@SledgeIncTeam yeah, I use them but not fan of those, but the other benefits on the Platinum easily offset the annual fee. The Aspire has a special place in my heart, such a great card.
They need to replace that Equinox benefit for a fitness option that's in more cities. Thanks for watching, Cesar.
@@WaterYourSoilI definitely agree. I've honestly only seen 2 Equinox Gyms ever. In Houston and Miami. The closest one to me is over 400 miles away.
To upgrade to platinum from Gold Amex is offering me 25k bonus after 2k spend in 3 months. Very low offer in my opinion (25k bonus)
Nice. Thanks for watching, Edmond.
So I work on Aircraft overseas. Very odd and different life. 90-120 days of work followed by 2-3 months off. Amex Plat is great for me. Setting aside the 125k bonus points I got..entry to lounges, priority pass, free global entry, free clear, free walmart plus which nets me paramount plus, free disney plus and a whole host of others I think I net about 800-1000 any given year in freebies. That greatly offsets the cost. Now the cost of 690 is a wallop but thats easy I have a savings that I throw 100 a month into to cover them all when its time.
You do have to take advantage of what they offer but most are easy to do such.
I appreciate you sharing that story. Thanks for watching.
But yet theyre keeping them
Thanks!
Fee 2 high 4 me
Thanks for watching, Stephen.
If you want to flex just buy a Lion Card 😁
Lol