Why The Amex Platinum STILL Destroys The Competition
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- Опубликовано: 2 авг 2024
- 💳American Express Platinum: mattwelter.info/amex-platinum
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All of a sudden, it seems like the American Express Platinum has become way less popular and is honestly being overshadowed by other premium Cards like the Chase Sapphire Reserve & Capital One Venture X.
People are frustrated with American Express & the Amex Platinum, and I mean I myself even made a video a couple months ago talking about why you should NOT get this Card.
So, in this video, I am going to uncover exactly why the Amex Platinum currently has somewhat of a negative sentiment, which includes the $695 annual fee and the coupon book like statement credits.
But then, I’m going to take the other side of the argument, and I’m going to discuss why the American Express Platinum Still Destroys The Competition, and is still the best Premium Travel Credit Card that is out there on the market.
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TIMESTAMPS:
0:00-0:52 What To Expect
0:52-2:22 Negative Sentiment on Amex Platinum
2:22-7:09 Useful Statement Credits
7:09-9:17 Benefits Can Offset Other Annual Fees
9:17-12:22 American Express Has Best Customer Service
12:22-14:30 Airport Lounge Access
14:30-16:31 Retention & Upgrade Offers
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Please keep in mind that this video is for entertainment purposes only & is not to be used for financial advice. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Let me know your thoughts on the Amex Platinum 👇
💳American Express Platinum: mattwelter.info/amex-platinum
I’m first…all others disqualified. And nope! The C1VX is best! Fight me!….dont fight me though.
Haha CJ is ready to 🥊
CJ you mean venture X card
@@MrMeneya yes, Capital One Venture X (C1VX is what I use to shorten it 😆)
I like CSR over all due to their travel partners and points value. It puts them on top.
Great review. Those big ass coupon books won’t do me any good out here in rural America so I’ll stick with my CSP.
Haha totally fair Bob!
Enabling me to have Gold status for both Hilton and Marriott (downgrade to the no annual fee cards) is actually the most convincing point for me to keep the Platinum. Well done!! 🎉🎉🎉
Also,
Access to the Delta Sky lounges without having the top Delta card is a big plus.
Thank you so much! And yeah the elevated statuses & perks with other travel brands on the Plat can definitely help to shave off other annual fees since a lot of benefits are all encompassing within the Platinum. Appreciate your support as always!
Amex Platinum is the BIG DADDY travel card you will not find the status or lounge access it offers anywhere else. Of course bring a Visa as well when overseas!
Agreed Shawn!
If I had to choose one premium card I’d still choose the sapphire reserve because AMEX isn’t accepted in many parts of the world and as an international traveler I need the convenience that a Visa provides.
Totally fair! Especially if you prioritize international travel I can see why the Amex Plat is definitely not the ideal Card. Appreciate you watching!
Their Trip Cancellation/Interruption insurance SCREWED ME!!! I charged a $14,000 Alaska cruise from Vancouver to Anchorage. We got covid halfway through. They denied our claim because the it was not a ROUND TRIP CRUISE. We made the mistake of not booking our airfare back to Vancouver on the same card.
Another great video. I would also suggest looking into the Delta Amex Reserve. I have both the Platinum and Reserve cards and use them to complement each other. i also have a Venture X I use everywhere Amex is not accepted, like Costco. I never realized how much fun the Credit Card game could be until I started watching your videos. Of course, I never carry a balance on any card.
Great breakdown and comparison
Thanks Buck!
The Amex Platinum is the best travel card for good reason! Even though the CSR and C1VX are pretty good competitors, the Amex Platinum is still the top dog! Great coverage of all the reasons why it’s a great card Matt!
Completely agree! Thanks so much for watching Stan!
Mileage may vary, but a big plus for the Platinum that people always tout is “lounge access”, I know is there is Escape etc. but people always tout the Centurion lounge and there are 13 Centurion lounges in the U.S., people never give that number (I know you did😂) and make it seem like 1,000, lol, so if you don’t have one in your home airport or travel with family (can’t access a Centurion lounge with guests anymore) you are out of luck. 🍀 😂
Totally fair Ryan and a great point to bring up! You are absolutely right that having a Centurion Lounge at your home airport vs Not having one is a significant factor on how much value each person would get out of the Platty.
@@MattWelterOfficial personally I actually live near CLT which has a Centurion lounge (and a PP lounge) but because I travel with my family I can’t use the Centurion lounge with the changes made this year. With the VX all four of us plus my mom in NY have PP access at the $395. I totally get the use case for the Platinum but the changes made this year really stuck it to families. That is the beauty of all of these cards, there is one for everyone 😂. Great content as always
@@ryanccc777 Haha exactly, and yeah I totally understand that. The Platty is definitely the perfect card for individual people who travel a lot for business and if you travel with family most of the time, the changes are too suitable for that. Appreciate your support as always!
Thoughts on adding an AU just for Centurion/Sky Club lounge access? We have all the big players here in NYC fyi.
I think it's definitely circumstantial. One way that I've looked at it- to bring in a guest to a Centurion Lounge its $50/visit. The annual Fee on an AU for the Platinum is $195. So you basically would need to bring your P2 into a lounge at least 4+ times per year for the AU Fee to be worth it. Thanks Matt!
You say a one night stay could trigger the hotel credit but doesn’t the Hotel Collection require a 2 night stay?
Fine & Hotels Resorts which can activate the Hotel Credit only requires a one night stay! Thank you for watching!
I live in Atlanta where Amex Platinum is so much better with best Centurion lounge and Delta Sky Club lounges whereas priority pass lounge is miserable and always wait listed. Centurion lounge (at least the one in Atlanta) is far superior than Capital One lounges and less crowded than Sapphire lounges in other airports. My only complaint about Amex Platinum is that I have to call them every single month for statement credits that are supposed to be applied automatically - waste of time to remind them every month....
If you live in ATL, the Amex Platinum is awesome as you said! But yeah that is annoying.. YOu'd think they'd have a better breadth of understanding for when certain Credits should be applied. Appreciate you watching!
I’m curious, which credits are not posting timely automatically for you?
Its a good card for a subset of users. You need to travel a significant amount and fly in/out of airports with the Centurion/Delta Lounges. You should be able to handle a good amount of the credits with natural spend and utilize the hotel benefits. I looked into the card and I could not truly justify it. The best features are the huge welcome bonuses, the lounge access, the possibility of getting a retention offer after the first year and what I believe is the best set of transfer partners in the business (at least for airlines). It makes year one and possibly year two no brainers even if you fly just a few times. It's just I cant find too much value in the credits to offset the AF.
That's totally fair! And yeah my take on is that everyone should at least "try out" the Plat, but I understand if it's not a viable option long-term, since like you said there are a lot of Credits to keep track of, and taking a hands-on approach with that is necessary. Additionally, mileage will vary again with Lounge Access just based on if you fly out of an airport with good lounge options. Thanks for watching!
@@MattWelterOfficial 100% spot on. Just remember to go through the entire family of cards starting with the green as you don’t want to lose out on so many points due to that annoying family language.
@@SpartanOfFinance Absolutely! Unfortunately already missed out on the Green with getting the Gold first. But I'll go Platinum next.
The 🐐 has posted!
Haha thank you Spencer, appreciate your support as always!
Great video. I still would roll with venture x though, Remember there's no real downgrade path for the platnuim no matter what you do which is why most just end up canceling all together
Also the platnuim is great locally but defused internationally while venture x is getting u 2% on all activities no matter the country.......i think everyone should still get a platnuim just see if it works for you & experience the ins and outs.
Thanks so much Lewis! Yeah that's totally fair. Not having a significant downgrade path with the Platinum is definitely a downside and the Venture X can definitely be a better international Card & a more straightforward one overall. I definitely do agree with you though that everyone should test out the Platty at least for the welcome offer and then make a decision on whether it's worth it long-term after that.
Hey Matt, I just watched your video and I must say that it was really informative and well-made.
I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
Matt!! Good video man. I can see where, depending on individuals' circumstances, the VX or the CSR could be the best high end travel card option for certain folks. But, for me and my situation, the Amex Plat is the best option since my home airport has only a SkyClub and Im a Delta fan and will always fly Delta or SkyTeam members over other alliances. Platinum cant be beat for lounge access options for me. Good comparison video.
Absolutely! The Plat is definitely the goat of lounge options, especially if you have significant opportunities at your home airports. Thanks for watching Jon!
Great video, we all occasionally get annoyed with the coupon book, but it definitely delivers value with their benefits and customer service. When you do the upgrade from Gold, and get stuck with 2 Platinum cards, what would be the gameplan after that? Is there any other benefit of staying with 2 Platinum cards? (I get the bonus part, but after that) I'm guessing maybe downgrading one of them to Gold or Green since those are the ones that earn regularly.
Thank you Luis! And you are spot on- Upgrade would be used to double-dip on the amount of point earning, and then simply downgrade one of the Plat Cards back down to the Gold or Green after that.
@MattWelterOfficial Thanks! I'm actually currently in that situation and it was worth the bonus points but I'm wondering when the year is up if I'll go to Gold or Green.... they both have pros and cons, but definitely keeping the CS Platinum, as you already mentioned it's by far the card that delivers the most value even with its price tag.
@@luisserrano863 Completely agree! And it's a nice floor with being able to cash points out at 1.1 Cents/Point through Schwab if you ever wanted to
I have said I’d never give up my Schwab Platinum, but if the fee is hiked and the useless (to me) rideshare and Resy credits are added, like to my Delta Platinum, I may have to let it go, which means I’d also give up my Gold card. Don’t do it, Amex!
DON'T DO IT AMEX haha! I definitely would hate the Rideshare & Resy Credits as well. Thanks for watching Robert!
Customer Service - I get send to off shore call centers these days - not buying great CS.
Yeah that's fair! I honestly don't even really ever call Amex, for the most part can pretty much accomplish everything through the in-app Chat. Thanks for watching Chad!
Yo, the Venture X is a world-class card; easily up to par with the Amex Platinum.
The multiple eyebrow-raises triggers my anxiety.. idk why
Sorry!
So… I’m always running late to a flight 🤣, Clear was made just for me. I didn’t have it on my recent trip, only TSA PreCheck, and I made to my flight with like 10 mins left before boarding closed. Yup, I cut it close….and since I’m always late, I don’t think I’ll ever get to enjoy an airport lounge.
Hmm…so if I open up the Amex Platinum, it’d benefit me to cancel my HHB. Very good to know.
Bruh, try comparing Amex customer service to WF. Who do you think wins? 👀
So, I’m going to request a retention offer when my AF becomes due (I think) especially if the AF is increased.
Hahah CLEAR can definitely be a game changer! Yeah the Platty with its elite statuses can help to shave off some of those annual fees on other Cards. Appreciate you watching CJ!
Yeahh mannn, Hilton Gold alone could be worth the annual fee for me depending on how much I’m staying at Hiltons, and want to eat at the Hilton restaurants to make use of the dining credits etc.
One 5 day stay I did last year saved me $150 in food since we only ate at the hotel, very underrated!
So good point on that man, and I like that you said you could just cancel the Surpass etc which would save you some annual fees, good way to think about it.
I think the biggest reason it still wins, is STATUS!
Great stuff Matt!
Completely agree Anthony! Yeah being able to shave off annual fees on other Hotel Cards by simply having access to the same statuses on the Platinum is honestly a pretty underrated but great benefit that doesn't get talked about too much. Appreciate you watching!
While a bit annoying to manage, the variety of benefits on the Amex Platinum is a powerful aspect of the card, especially since as you said, you won't need some other cards with annual fees that cover those benefits. The C1VX is still my favorite premium travel card, but the Amex Platinum isn't far behind. Awesome stuff Matt!
Thank you so much Monty! Yeah huge diversity of benefits on the Platty!
Amex plat is trash. Especially for international travel which always paid for by points anyways. And the "credits" youre paying for anyways.
That's what i'm talking about! the Platty is the King of the mountain regardless of it's popularity! Thanks for the honest review great video Matt!
Absolutely and completely agree! Thanks so much Chad!
AMEX should launch a Lite version of these cards with no credits and a lower annual fee. Just terribly bloated products while competition is gaining.
None fo the businesses around me take American Express.
Gotcha- yeah American Express acceptance especially internationally can definitely still be a downside with this Card for sure.
Favorite coupon book card. Punches above its weight class. Pay fee, get outsized value in coupons and net free lounges (and the best lounge network for any credit card).
Agreed! Credits get you past Annual Fee and the fantastic lounge access is the cherry on top! Appreciate you watching Chad!
Plat is the 👑 when it comes to travel cards. I love the VX and think it's suitable and justifiable for a wider range of ppl, but the statuses and benefits from the Plat are hard to beat.
Completely agree! Thanks for watching Darius!
At your Gold Card one year mark they will send you a Platinum upgrade offer. I hope it's a great one!
Thank you! I actually do have a 100k upgrade offer! Planning to get the Plat first and the welcome offer that comes with it and then I'll potentially take advantage of that upgrade offer!
I just got a upgrade offer from Gold to Platinum 100k with $6k spend in 6 months but I will lose the Gold in the process and I don't want to give up my Gold card
Gotcha- Yeah I totally understand that. If 100k bonus points is worth it though, you could always upgrade to take advantage of the bonus and then downgrade back to the Gold Card at some point.
The plat card could dominate the other premium cards with a few tweaks, a bump to the point earnings would be a good start, they need to add a few benefits to justify the annual fee, especially if they plan to raise it, otherwise it is easy to walk away from this card.
That's totally fair! Yeah the annual fee is definitely high, the point earning isn't very good and it does take a lot of work to actually get positive value so I can see why it's become somewhat of a polarizing Card. Appreciate you watching!
I would have gotten this card but I'm in hardcore pop up jail, couldn't even get the 100k offer on it. Got the CSP instead to go with my Venture X last night.
Ah dang that sucks.. Congrats on getting the CSP though!
The Platinum card is horrendous. It’s a glorified coupon book with horrible multipliers.
Totally understand why some people don't like the Coupon-Book style of the Platinum! Thanks for watching!
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It's not for me. Great job on RUclips ❤
Thanks Vicki :)
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Thanks for watching Xavier!
I don't have the platinum card; nor do I ever plan to get one unless it suits a future lifestyle of mine.... But YESSSS!!! Platinum is King 🎉🎉🎉 You gave me a potential reason to get the platinum in the future. That Hilton gold status; since the only free night awards on Hilton cards is the hefty aspire card which I am not a Hilton loyalist, but could value having a good status with them for paid stays and get the benefits of the Platinum card. Nice 😂 Now I am going to be thinking about fitting the Platinum into my annual budget.
Thanks so much! Yeah the saving fees due to the statuses offered by the Platinum can be a game changer. Really appreciate you watching!