Great point about getting value from natural spend!

Yep -- if many of these credits reimburse relatively natural, "organic" spend that you would have made anyway, then the annual fee becomes a lot less scary, and a lot more justifiable even if you only fly once or twice a year. But if you are buying stuff you don't need or even particularly want, then it's not such a good deal.

@@MarkReese I know I can convince myself that I'll get tons of value from these cards even when that may not actually be the case, but that's just the lenders marketing at work!!

@@ziggy29 I completely agree!!

I agree, but if you have this Platinum or any other Amex Platinum, you know what it means to make our USD go further. Great video!

Congrats on becoming a new cardmember! Glad you found the video helpful 👍

Glad you found it helpful! 💯

Appreciate it, Gustavo! 🥇

Awesome! 💯

You're welcome!

👊💯

BOOM! Congrats 💥👊

Absolutely!

Glad it was helpful!

You're next!

You're doing it right! 🇧🇷🍷

Good to hear you're enjoying that W+ membership credit for Paramount+!

Thanks Jimmy!

Haha it sure is. Thanks Patrick!

Nope, neither. However, the Premium Global Assist Hotline may provide emergency medical transportation assistance at no cost if approved and coordinated by Premium Global Assist Hotline. You can learn more here: www.americanexpress.com/us/credit-cards/features-benefits/policies/global-assist-terms.html

@@MarkReese I chose Sapphire Reserve because I cruise every year and I was paying $1k/year on travel insurance., just to ensure I had the mentioned coverage.

It’s my favorite benefit. I use the home grocery delivery a decent amount.

You're also getting free Paramount Plus with this

@@fbx03 yeah good stuff

Also Walmart Plus currently includes free Paramount +

@@paulstein916 yeah between that and the 20 buck entertainment credit you can get alot of free channels.

A great addition for sure! Correct, I tend to focus on the broader benefits for primary cardholders in the U.S. (and avoid discussing both military & authorized user benefits as I find those better to cover separately). Perhaps I'll discuss the SCRA / MLA benefits in a dedicated video at some point.

@@MarkReese you absolutely should. I think a lot of people don’t know and it could get a lot of extra views and referrals for ya if the title is done right

👍

The Complimentary Night @ Mandarin Oriental + 3X Points in Your Birthday Month features are pretty cool! Not sure if points have the same value as in the U.S. though. "Membership Rewards points" don't always have the same value in different countries.

@@MarkReese Hey Mark, Thanks for the quick response, even in Thailand the annual fee is high. Seeing this is my first platinum with Amex im sure it will be worth it.

Hi Clausell - there isn't a way to guarantee this. The Amex portal(s) are still 3rd-party portals, so I cannot say for sure that you will consistently earn elite-night credits in programs like Marriott, Hilton, etc. When using the portal, if there's a place to enter your loyalty # with the associated program, enter it. If not, then speak to the front desk agent upon check-in to see if they can add it then. I'd also double check w/ the front desk even if you were able to enter your loyalty # during the booking process, again just to make sure that the info was transferred over.

Glad you liked it!

Not that I'm aware of.

Thank you! 💯🎬

You bet!

ALL of the credits require spending first (e.g., Spend $50 at Saks, Get a $50 statement credit). The only exception is the Uber Cash benefit. That one is not a statement credit, rather, it's a deposit of Uber Cash into your Uber account.

@@MarkReese So in reality, if only uber cash is an automatic credit (like in Gold Card) then only that can count toward the AF offset. So the annual fee is offset by only 200$. And the real cost of having the Platinum is 495$ annually. I mean I can't count all the credits that I get, if I have to spend it first. That is how I see it. I am wrong with calculations?

@@TheHellSpeed - I see it differently, but it doesn't matter ✌

@@MarkReese Mark, I get what are you saying and I am not trying to convert you. Of course getting credits back is great. I am not denying that. I am big fan of Amex cards. The only thing is, I don’t agree when people say for example, that Amex Gold Card with credits you get really costs you $10 annually. Since 120$ dinning credit only applies when you actually first spend your own money. To me, the Gold Card costs me 130$ annually, if you only take a count of $120 Uber credit. Thanks you for replying Mark. I appreciate that.

@@TheHellSpeed - 100% of it depends on if you'd normally spend the same money on the same purchase with the same merchant _without_ having the card. For example, I was already spending $300+ at Equinox before the Amex Platinum Card received the annual Equinox credit. So, when I pay the $695 annual fee, I view the Equinox expense as already baked into that amount. The annual fee should be a form of _prepaying_ for things you were going to buy anyway. If not, then it's a true cost. If someone gets the Amex Gold Card and they _were NOT already spending $10+/mo. with Uber,_ but then they began spending $10+/mo. on Uber AFTER getting the Gold Card, then that Uber 'benefit / credit' is not a savings at all. It is in fact a new cost that person added to their life.

Thanks! 🥇

You bet!

Perhaps at some point!

Thanks Dj Brucewayne 🎬

Appreciate it, Russell! 🥇

Thanks Cinthya!

I use both Experian + Credit Karma.

If you don't travel, then pass on this card.

Thanks Trendari!

Only you can make that decision for your wants / needs. The Platinum Card is awful for earning rewards, but great for benefits (if those benefits make sense for your current lifestyle). People looking to make travel more affordable will likely want to earn more rewards. People looking to elevate their travel experience will likely want to focus on benefits.

@@MarkReese again. I appreciate you for the information. This makes sense. I was actually wondering that myself. How will I get more points after the song up bonus. And I was looking at the other card like the blue daily and the daily I realized that one of them is cash back I want to film is rewards but not that beneficial of rewards. So I might go with a gold card for a year or two gather decent amount of points and then sign up for the platinum since I'm eligible for both.

@@frankieh9233 - There's a big difference between cash back vs. travel rewards. Determine which you want prior to getting more cards 👍

@@MarkReese i was offered the 90K points on the gold card so i jumped on it ! again thank you so much for your work on here ! alot of people find it very helpful !

@@frankieh9233 - Congrats!

It will not reset anything. However, there's no need to enroll if you already have Gold Status; there's no additional benefit to doing so.

Ahhhh, perfect...wanted to make sure that by not doing so, I wouldn't be missing some extra perks. I could add my husband as an AU so that he could get those elevated statuses though (he doesn't have them already). Thanks so much!

The policies vary by lounge network: - Centurion Lounge: no free guests. All = $50 each. - Delta SkyClub: no free guests. All = $50 each. - Priority Pass: 2 free guests. Additional guests = $32 each.

@@MarkReese thanks Mark for the information

😁

Look at cards offering 0% APR on balance transfers specifically (not only on purchases). Some good ones right now are: - Wells Fargo Reflect (18 mo. | Up to 21 mo.) - Citi Diamond Preferred (21 mo.) - Wells Fargo Active Cash (15 mo.) - Capital One SavorOne (15 mo.) - Capital One Quicksilver (15 mo.) You can view a lot of these cards in one place on my site at: markscreditcards.com/offers Scroll down to the "0% APR Credit Cards" section.

Thanks I'll it a look

Depends on what 'pretty often' means, how much you value it, and if the lounges are located in the airports where you go.

No. The $189 CLEAR Credit can be used by the primary cardholder & authorized users. However, it's only up to $189 in total reimbursements (i.e. AUs do not get their own credit). Here's a link to another video about the authorized user benefits (note: CLEAR was $179 at the time): kzfaq.info/get/bejne/bat5aqyHmKqtn4k.html

Not sure if SoulCycle allows for split payments across multiple cards; you'd have to go through the checkout process to find out. However, even if they do, the the terms for the $300 credit still say, "Must charge full price of bike in one transaction."

Just replied to your other comment.

?

I personally don't like adding AUs because I don't like people relying on me / my account being open for them to use benefits, make charges, etc. I just like to have control over things that are financially related. However, the more objective / monetary perspective angle would be: "I trust Person X, and the cost would be $175 instead of $695 for up to 3 people." It's an excellent value & I'd recommend it to the right people. I'm just not one of them.

Yes. Add both payment methods to ur Uber account & ur credit total will show $25 ($15 Plat & $10 Gold).

Hi Stephen - Yes, the Uber Cash stacks from the Platinum + Gold Cards. You'll need to have both cards added to your Uber Wallet for it to work.

It has no preset spending limit as it's a charge card (i.e. not a traditional credit card).

Now it's all about the color 😄

Depends on the lounge network. - Centurion Lounge = no - Delta SkyClub = no - Priority Pass = yes - Escape Lounge = yes

@@MarkReese wow! No more Centurion and Delta?

@@miguelrodfher - No. Here's a link to a post by NerdWallet about the Centurion Lounge change, which occurred on 2.01.2023: www.nerdwallet.com/article/travel/centurion-lounge-guest-policy The Delta SkyClub policy has been the same for awhile, where guests were $39 each. But as of 2.02.2023, they're now $50 each. You can view the details directly on Delta's website at this link: www.delta.com/us/en/delta-sky-club/access

@Mark Reese, it seems that the change is only impacting guest, not necessarily the card holder for what I gather from the article “Now, unless you otherwise spend $75,000 or more each calendar year on your card, you’ll need to pay $50 to bring an adult guest ($30 for children ages 2 through 17) into the Centurion Lounge. Terms apply.”

@@miguelrodfher - Correct. I now realize I misread your original question as I thought you were asking about guests. There's no change to access for the primary cardholder.

kzfaq.info/get/bejne/gKyVmKyn1K2phIU.html A good video from Ask Sebby!

@@adrianbira2583 cool! Thanks for the info!

I don't have plans to review the card or apply for it.

👋

Happened to me too. I charged a hotel stay for a bit $400 and the second the charge went thru on my Amex platinum card I got an email from Amex that I now have a limit of $4,700! Seems like the limit reduction was an automatic system downgrade triggered by the charge.

Thanks for the response. Perhaps you should consider doing a video blog on the downgrading of platinum credit limit from no preset CL to preset credit limits. I searched KZfaq and couldn’t find one. Thanks again for the response and the excellent content.

Hi Dave - I haven't heard of this, though I just read a bunch of data points from other people on other forums. Did you under go a financial review? Were you using high limits on other Amex cards? What have you spending habits been like on the Platinum Card itself?

@@MarkReese Hi Mark! Thankfully I did not go through a financial review. The only item I had was a inquiry for a new student loan and the trade line hitting my credit report. I received a letter from Amex and they asserted it was due to the new account and the lower credit score of 705. My use of the card has been around $1,800 per month. I can share the letter I received from Amex if you like! Oh wait! I did use the Amex spend account to reimburse a friend for dinner. Do you think that’s why the downgrade occurred? Thanks for the response. DJ

@@davejai5384 - Interesting (and strange)! Do you have the Pay Over Time feature on or off?

Thanks, all good! I used a different audio source & a number of issues came up during the editing process on this one, so perhaps that's why 🤙

Yep ☹️

Did Amex tell you that was the reason? Or just an assumption?

@Mark Reese // Credit & Finance they told me that when I didn't get my promotional points on my 2nd card. So I canceled the 2nd card, too.

@@roynantu03 - What do you mean you didn't get the promotional points? What happened?

@Mark Reese // Credit & Finance ok, so in 2017, I got amex, then I felt like I didn't need it, so I canceled n then got it again with delta sky miles, in 2019. But I never received the miles bcoz I closed an account before. I got mad n canceled the 2nd account, too.

@@roynantu03 - Were both of those the same cards (Delta SkyMiles Gold)?

👊

Agreed 👍"Beginner's Guide" does not imply "beginner card." Rather, it's referring to those who are beginners to the Platinum Card (i.e. they got it for the first time) and who want an explanation of their benefits.