Based on the number of annoyed, dismayed comments on the blogosphere and Twitter yesterday, it seems like for many current cardholders, the Amex Platinum card is on the chopping block; people claim that the card no longer holds the allure and promise that it once did. This comes after two recent “hits” to the card’s benefits:
- the loss of complimentary American Airline’s Admiral’s Club lounge access (starting March 22, 2014)
- the reduction in Delta lounge access – guests or family members are no longer free. Effective May 1, 2014 cardholders will be able to bring two guests, or their immediate family, for a fee of $29 per person.
Personally, I’m keeping my card. For me, it’s still packed with value and worth the hefty $450 annual fee. In fact, I just wrote a post detailing the reasons why I love my Amex Platinum card. Here’s how it pencils out for me:
- $200 annual Airline Fee Credit
- Roadside Assistance (worth $57)
- At least 3 nights booked using the “Fine Hotels and Resorts” benefit (worth $100+/night)
- At least 4 visits to the Centurion Lounges (worth $25-$50, depending on the day ;))
This is a total of over $650 worth of benefits – possibly more, depending on how my travel plans shape up for the year. The card could be worth even more to me if I didn’t already have Global Entry ($100, reimbursed by Amex), or if I flew Delta and wanted access to their lounges (without my friends or family, of course).
Most of the perks I enjoy from the card are because I travel frequently and embrace the High/Low lifestyle.
Clearly, this card is not for everyone. In fact, before I got into points and miles collecting, I never would have given this card a second look! $450 is a gasp-worthy annual fee, unless you know how to unlock its true value. In other words, the Amex Platinum is like a…
“Samurai sword!” yells my 8-year-old son.
So I’m just gonna go with that analogy. The Amex Platinum is like a samurai sword, because it’s expensive, rare, and powerful to some – but if used in the wrong way (or not used at all) it can be worthless…or even deadly.
Do you use your Platinum card as a samurai sword? Or are you laying down your arms?