Should you get the Amex Platinum or be an authoriz...

One of the common premium bank cards is The Platinum Card® from American Express. Whereas it has a excessive annual price (see rates and fees), it might probably supply a ton of worth for the proper of traveler.

It prices $195 for every additional Platinum cardmember you add to your account (see rates and fees). Nonetheless, these extra cardmembers could also be asking an necessary query: Ought to I keep as a licensed consumer or get a Platinum Card of my very own?

This is some steering that can assist you make that call.

The Amex Platinum has an annual price of $695 (see rates and fees). Should you’re a licensed consumer, you may pay a further $195 in annual charges.

You will need to weigh the associated fee distinction between holding your individual Amex Platinum and being a licensed consumer on another person’s account. Because of this, it’s possible you’ll wish to crunch the numbers to see which makes essentially the most sense.

There are a number of arguments in favor of getting your individual Amex Platinum. Not surprisingly, they begin with the welcome supply.

You will not earn your individual welcome supply once you’re added as a licensed consumer. Nonetheless, for those who apply (and are authorized) for the Platinum Card as the first cardmember, you’ll be able to earn 80,000 Membership Rewards points after spending $8,000 on eligible purchases inside the first six months of card membership. This bonus is price $1,600 based mostly on TPG’s January 2025 valuations, due to the array of valuable ways to use Amex points.

(Professional tip: Remember to examine the CardMatch tool to see for those who’re focused for an even higher welcome offer, although these are topic to vary at any time.)

The welcome supply is a one-time perk just for the first year. Past that, there are a number of necessary advantages on the Amex Platinum which are granted as soon as per account. Should you can maximize any of the next, you may be an excellent candidate for getting your individual Platinum Card:

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• Month-to-month Uber Money:* Rise up to $15 in monthly Uber Cash (plus a $20 bonus in December), once you add your Amex Platinum as a fee methodology to your Uber account. The credit score can be utilized for Uber rides and Uber Eats orders within the U.S. Even for those who’re an occasional Uber buyer, this may end up in as much as $200 in whole worth every year. As soon as your Amex Platinum is added to your Uber account, you’ll be able to redeem Uber Money with any Amex card at fee.
• Digital leisure credit score:* The Amex Platinum offers you as much as $20 in assertion credit every month once you use the cardboard for subscriptions to select digital entertainment providers, together with Disney+ and The New York Occasions. Should you max out these credit, you may get pleasure from as much as $240 in worth per calendar yr.
• Clear Plus assertion credit score:* Get up to $199 in annual statement credits once you cost the price of a Clear Plus membership to your Amex Platinum.
• Resort assertion credit score: As an Amex Platinum cardmember, you’ll be able to entry luxurious lodge perks by means of Fine Hotels + Resorts and The Hotel Collection (the latter of which requires a two-night minimal keep). Whenever you make a pay as you go reservation with a taking part property in both of those applications, you may get pleasure from up to $200 in statement credits per calendar yr.
• Airline assertion credit score:* The Amex Platinum additionally comes with up to $200 in annual statement credits for incidental charges charged to your card with an airline you designate per calendar yr. This may cowl baggage charges, seat assignments, or visitor passes to go to an airline lounge.

*Enrollment required; phrases apply for these advantages.

Whereas your spending as a licensed consumer can set off these perks for the first Platinum Card account, you do not get your individual set as a further Platinum cardmember. Should you’re frequently utilizing these perks, it may be price getting your individual Platinum card.

Put a concrete greenback quantity to those advantages based mostly by yourself utilization over the subsequent 12 months. If that quantity is bigger than $500, you are a good candidate for getting your individual Platinum Card.

Between the welcome supply and these assertion credit — together with some that let you double up in yr one — now could also be a good time to turn into a major cardmember on the Amex Platinum.

Associated: 10 things to do when you get the Amex Platinum

Most clearly, for those who’re beneath the age of 18, your solely actual possibility is to be a further Platinum cardmember. And even once you flip 18, the Amex Platinum has some pretty strict requirements to get authorized. Current highschool graduates with restricted credit score histories will probably should be licensed customers for a number of years (and construct up their very own credit score) earlier than contemplating getting the Amex Platinum in their very own proper.

Past that, staying (or changing into) a licensed consumer probably makes essentially the most sense for individuals who extremely worth the perks that stretch to extra Platinum cardmembers — however do not care in regards to the above advantages. In spite of everything, entry to the American Express Global Lounge Collection, the assertion credit score for Global Entry or TSA PreCheck, and complimentary Gold status with Marriott Bonvoy and Hilton Honors all lengthen to licensed customers. And for frequent lounge guests or common Marriott and Hilton visitors, paying $195 a yr can nonetheless be a cut price. Enrollment required; phrases apply for choose advantages.

Should you’re nonetheless on the fence, crunch the numbers by placing greenback quantities to those advantages. For instance, how a lot would you pay to enter an Amex Centurion Lounge? Visitors of the first Platinum cardmember are $50 (except they unlock guest privileges by spending $75,000 on the cardboard in a calendar yr), so for those who agree with that worth, you’ll be able to greater than cowl the $195 licensed consumer annual price with 4 (or extra) visits.

Associated: Is the Amex Platinum worth the annual fee?

In fact, for some clients, neither one among these is smart. Perhaps you beforehand had the Amex Platinum and thus aren’t eligible for a welcome offer. Maybe you solely entry an airport lounge a number of occasions a yr or use the lodge elite standing perks sometimes.

Once more, crunch the numbers based mostly on the real-world worth you get from every year’s included advantages. If the worth is beneath $195, you are higher off canceling your licensed consumer card.

The Platinum Card from American Express fees $195 for licensed customers, and whereas some could think about eradicating extra Platinum playing cards from their accounts, others could wish to think about when it is smart to turn into a major cardmember.

Begin by wanting on the welcome supply, particularly for those who’re focused for an elevated supply. Then, determine the worth of these extra perks you’d unlock with your individual Amex Platinum Card — preserving in thoughts that some are based mostly on a calendar yr. It doesn’t matter what you select, be sure you’re getting sufficient worth to justify the associated fee.

To be taught extra in regards to the card, learn our full review of the Amex Platinum.

Apply right here: Amex Platinum

For charges and costs of the Amex Platinum, click on here.