American Express (Amex) Platinum review 

Can rewards justify the large £650 charge on this high finish Amex card?

I really like a very good reward or cashback card. Utilizing one on my on a regular basis spending is solely the best option to earn money. And when these playing cards are free, it’s even higher.

However the American Specific Platinum card isn’t free. It’s actually, actually costly. So costly you’d must spend £13,000 in a yr to earn sufficient factors to cowl the annual charge.

So is it one to keep away from? Properly the opposite perks would possibly truly make it price contemplating, particularly when you nab a boosted welcome bonus. Right here’s my America Specific Platinum evaluation.

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What’s the Amex Platinum card?

The American Specific Platinum is the premium bank card on supply from Amex. It comes with perks like journey insurance coverage and a refund on meals out – these are detailed additional down the article.

It’s essential to have a minimal revenue of £35,000 a yr to use for the cardboard.

The cardboard itself is steel. Although it’s not a motive to get one, I used to be shocked that I actually appreciated it!

American Specific Platinum charge

As I’ve already talked about, you’re an enormous £650 annual charge. That’s paid upfront, so you might want to think about that price initially – and it doesn’t rely in direction of any welcome bonus thresholds.

For the second, the charge is refunded pro-rata when you don’t maintain it for the complete yr. Nevertheless, American Specific have stated it will change sooner or later. So I’d go into this anticipating to pay the complete quantity.

How a lot are you able to earn from spending?

The Amex Platinum earns Amex Membership Reward Factors. You’ll get 1 level for each £1 you spend. Amex Reward Points convert in a few ways, together with:

• 1 level = 1 airline level (eg Avios or Virgin Atlantic Flying Membership)
• 1 level = 0.5p if swapped for a present card (eg Amazon) or Nectar factors
• 1 level = 0.45p if used as assertion credit score or spending direct with retailers (eg Argos)

Factors will hit your account fairly quick, so that you received’t have to attend a yr to make use of them like cashback earned on the Amex Cashback bank cards.

If you happen to shut your card down and don’t have an alternate Amex Membership card you’ll lose the factors you’ve earned. The way in which to keep away from that is to both switch factors first, or to open up one other Amex Rewards card such because the free American Specific Rewards card. It will maintain the factors energetic.

American Specific Platinum welcome bonus

Who can get a welcome bonus?

The signup bonus for the Amex Platinum is open to any new cardholders, or current ones who haven’t had any Amex card that earns Membership Reward factors within the final 24 months.

This implies this card would possibly earn you in a position to get a second American Express bonus so long as you’ve not had the next within the final two years:

• Amex Most well-liked Rewards Gold
• Amex Rewards
• Amex Platinum
• Amex Inexperienced

However you’re good to go when you’ve had playing cards together with:

• Amex Nectar
• Amex Cashback and Amex Cashback On a regular basis
• BA Amex and BA Amex Premium Plus

Customary join supply

The same old bonus is 50,000 factors for a £6,000 spend over three months. That is price £250 in Nectar factors or a present card, with one other £30 on high from the £6,000 spend. You must spend a minimum of £6,000 to set off the bonus. A penny much less and received’t get it. Getting a supplementary card in your associate could make it simpler to succeed in this determine.

As well as, when you apply through a cashback site, there’s the prospect to get one other £100 again, which means you’re up £380

For the reason that charge is £650, you’re successfully solely paying £270 for the cardboard and different perks in yr one (after which the complete quantity for subsequent years).

Boosted join affords

A few instances a yr the welcome bonus is boosted – and I believe these are price ready for. We’ve obtained a separate American Express Platinum deals web page only for when this occurs, which has full evaluation of the supply.

On the time of writing, there’s a promo operating till 14 October 2025. There are 80,000 Amex Reward factors accessible.

Nevertheless you’ll must spend an enormous £10,000 in six months to get the bonus. Be sure to can afford this and don’t purchase extras you don’t want simply to hit the edge.

The boosted factors are price £400 in Nectar factors or a present card. And issue within the additional 10,000 factors you’ll earn from that £10k spend and that’s one other £50, totalling £450.

Go through a referral hyperlink and also you’ll normally get one other 20,000 factors (price £100) on high, providing you with free cash price £550. Which means you’re actually paying £100 for the opposite card perks.

Amex Platinum advantages

There are a couple of extras that include the Platinum price factoring into your sums. Listed below are the core advantages.

Annual journey insurance coverage

You get worldwide journey insurance coverage for you, any supplementary cardholder and dependent kids. Journeys can final 90 days, or a full yr for youngsters underneath 25. Automobile rent insurance coverage can be lined.

It is a first rate profit when you do journey so much – apart from one main flaw. You must e-book your vacation and journey with the Platinum card for something aside from the essential medical cowl.

Nice if you are able to do this, however as anybody who has already had an Amex is aware of, not all retailers will settle for the cardboard. So our journey to New York a couple of years in the past was lined, however I used to be instructed a weekend in Rome booked someplace that didn’t take Amex wasn’t (although I’ve seen some data saying it may have been – it’s not massively clear).

Airport lounge entry

You’ll get a Precedence Cross for entry to various worldwide lounges, and entry to extra on high with the Platinum card itself. There’s additionally entry to the Eurostar lounge in London and Paris.

This was a pleasant little bonus for some peace and quiet, however the meals was fairly poor in each London and New York so not one thing I’d wish to pay for.

Different journey advantages

Hertz and Avis standing

As a Platinum cardholder you possibly can activate premium membership standing at a few rent automobile firms. This gives you a reduction and an improve. Sounds good. However once I regarded I used to be in a position to pay much less for a similar stage automobile by buying round.

Lodge extras

E-book through Amex for a Nice Inns & Resorts keep and also you’ll get a room improve (if accessible), early check-in, late checkout and free breakfast. Nevertheless you do must e-book direct with Amex, so that you would possibly discover a cheaper possibility elsewhere.

Amex Platinum free credit score

Alongside the standard Amex affords, there are some particular to the Platinum card. Those I believe you would possibly truly use are:

As much as £400 eating credit score a yr

You may activate affords to earn £100 credit score on UK eating and one other £100 on abroad eating each six months. This is because of run till the top of 2026, but it surely might be prolonged.

Although you can get the complete £400 yearly, the international restaurant record and areas are restricted – so that you would possibly wrestle.

I’d worth this at £100 each six months, and if you’ll be able to get extra that’s a bonus. Here’s my full analysis.

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Plus an unique £20 welcome bonus for brand new Quidco members (Phrases apply)

How does it examine?

If you happen to’re in search of a card for the majority of your spending (outdoors of the welcome bonus) then you possibly can match the 0.5% with out paying a charge. In reality you possibly can beat it. Listed below are the most effective free playing cards (read more here).

Do you have to get the Amex Platinum?

Andy’s Evaluation

When the welcome bonus on this card is boosted it could hopefully wipe out many of the charge – which means you possibly can then benefit from the extras at little or no price.

In reality, you’ll actually be getting cash while you add within the additional credit score for eating out, not to mention the price of paying for journey insurance coverage elsewhere.

However past this primary yr? With out the increase that comes from the welcome bonus, it’s going to be arduous to justify the outlay when you possibly can earn cashback without cost on different playing cards.

Even factoring in these extras may go away you wanting the £650 annual charge.

I believe most individuals are solely going to learn from a brief burst of this card when there’s a boosted sign-up supply. However after you have that, switch your factors and cancel.

Bear in mind, you possibly can cancel your card, and also you’ll be capable of apply once more in two years!

American Specific Platinum abstract