There is a substantial competition between the banks are going on in the premium credit card category. Chase recently introduced its premium card Chase Sapphire Reserve, with lots of travel benefits and perks. The Chase announced they were able to issue more than 100,000 cards within few weeks of offering the card.
American Express Platinum Card 5X Points per Dollar spent on Airline Tickets
American Express does not want to be left alone and does not want to make their card inferior to the Chase counterpart, recently announced 5 points per dollar spent on booking flight ticket directly through the American Express website or the airline’s website.
If you do not have the American Express Platinum card, wait till you get a better bonus offer. American Express Platinum currently offers a signup bonus of 40,000 Points. But once or twice a year Amex bump up the bonus to 100,000 points. So it pays to wait to get a higher signup bonus.
American Express Platinum Card Other Benefits
- 1000+ Global Lounge access including The Centurion® lounge network‡, the International American Express lounges‡, Delta Sky Clubs®‡, and Airspace Lounges. You can also enroll in Priority Pass™ Select (costs $27 per accompanying guest).
- $200 airline fee credit. Enjoy perks while you fly. Includes checked bags fee or in-flight meal and other charges like ticket rebooking fee.
- $100 TSA Pre and Global Entry fee credit every five years.
- Automatic Starwood Preferred Guest Gold Member Upgrade.
- Automatic Hilton HHonors Gold Member Upgrade.
- No foreign transaction fee (most of the cards offers this benefit now).
- Transfer membership rewards point to 16+ airlines frequent flyer program.
- Free Boingo hotspot for WIFI access.
Cons of Owing the American Express Platinum Card
- American Express charges a hefty annual fee of $450 for the American Express Platinum card. This fee is not waived for the first year. By using the airline credit of $ 200 annually, you cost of owning the card comes down to $250.
Earning 5 Points per dollar spent is an excellent deal. Currently, Citi and Chase offer only 3 points per dollar spent on airline ticket charged to their card. If you do not have this card wait until American Express offers a better signup bonus instead of the standard 40,000 points bonus before applying for this card.