Is the £575 AMEX Platinum Card Worth the Money? (2024 Guide)

The AMEX Platinum Card is a highly sought-after credit card designed to elevate your travels. With a staggeringly high sign-up bonus and endless benefits, there’s no surprise that this card is among the most in-demand for frequent UK flyers. After all, who doesn’t want 30,000 membership points (or 30,000 Avios points) for simply signing up?

However, it’s important to weigh the pros and cons before committing. Alongside its benefits, this card has an annual fee of £ 575. You can make the fee back with the £300 dining credit and £100 Harvey Nichols vouchers, but examining your spending and lifestyle habits is crucial before diving in.

Most users profit from this card within the first year. Once you’re familiar with the best benefits and offers, you’ll almost certainly make gains in year two. Ready to learn more? Keep reading our AMEX Platinum Card review to ensure you have the complete lowdown before signing up. Scroll down for more.

What is an Amex Platinum Card?

The Platinum American Express Card was created with travellers in mind. But what does this credit card actually offer?

This credit card costs £575 per year and provides a whole host of perks, including restaurant credit, lounge access, cashback deals, and a points system. The AMEX membership points can be used further to pay for travel bookings and other purchases.

The representative APR is 470.7% variable, including the annual fee. The APR on purchases is 30.7% variable.

What Are the Earnings per £1 Spend?

Knowing your potential earnings before signing up for the card is essential.

The AMEX Platinum Card offers 1 membership reward point per £1 spent on the card. 1 membership point equals 1 Avios or other airline mine (per £1) if you decide to transfer them over.

If you spend with American Express Travel, you earn 2 points per each £1 spent. This is available when you book and pay online via the official American Express website. So, you can earn many points while spending directly with Amex.

However, a lot of users focus their spending elsewhere. For example, many redeem the 2-for-1 British Airways voucher using the card.

Other Platinum Card Details

The Platinum AMEX credit card has a minimum monthly payment of £25 (or the amount owed if less). This also includes any interest fees or amounts owed on instalment plans, plus 2% of the remaining balance.

The credit card is not designed for long-term borrowing; paying the minimum will take longer to clear your balance. Users should also note that cash withdrawals are more expensive than using the card for purchases.

Explore more about the AMEX card via the card’s official About section.

A Little About American Express

American Express provides credit card products and travel-related services. This includes change cards, credit cards, and a range of additional financing solutions. These are available to small and middle businesses, corporations, and individuals.

Who is Eligible for the AMEX Platinum Card?

Before you apply for the Platinum Card, double-check that you meet the application criteria.

The current application criteria include the following:

• To be 18 or over
• Have a UK bank or building society account
• A permanent UK home address
• Earnings of at least £35,000 per year
• No history of bad debt

Also, if you currently hold or have held any personal membership rewards-enrolled American Express Cards in the past 24 months, you won’t be eligible for the Welcome Bonus.

Unsure whether you’re eligible? Use the American Express eligibility checker today. This online tool doesn’t affect your credit score.

How to Sign Up For an AMEX Platinum Card

Signing up for the Platinum Card is done online at American Express. Still, it’s even easier if you know someone who has an AMEX Platinum Card, as they can refer you and secure you a better Welcome Bonus and some extra points for themself. All referrals must be completed through an online link.

Don’t forget to read the credit card’s terms and conditions before signing up.

The Sign Up Bonus of the Platinum Card from AMEX

This American Express card has some of the biggest Welcome Bonus offers of any UK credit card.

When you get started with the American Express Platinum, you receive 30,000 American Express Membership Reward points. These convent into the following:

• 30,000 Avios
• 30,000 Emirates, Etihad, Asia Miles, Delta, Flying Blue, Qantas, SAS, or Delta miles
• 30,000 Virgin points
• 60,000 Hilton Honors points
• 20,000 Singapore Airlines miles
• 90,000 Radisson Rewards points
• 45,000 Marriott Bonvoy points
• 2,000 Club Eurostar points

Sign Up Bonus Target Spend

Before using the exciting sign-up bonus, you’ll need to meet the card’s 90-day target spend. For the Platinum card, this is £4,000 within the first 90 days. This figure doesn’t include the annual fee.

Top 9 AMEX Platinum Card Benefits

The generous welcome bonus isn’t the only valuable benefit of this credit card. Here are 9 more benefits for Platinum card holders.

1. Luxury Hotel Benefits

Want to add extra benefits to your luxury hotel stays? The Platinum Card provides exclusive bookings through the “Fine Hotels & Resorts” scheme.

This premium scheme includes guaranteed 4pm check out, free breakfasts, room upgrades, and $100 food and drink credits. These perks are particularly handy for short stays and weekend trips, making your experience more comfortable. So, consider the Amex Platinum Card for business travel if you often fly for work or take over three to four holidays per year.

2. £100 Annual Spend at Harvey Nichols

All Platinum Card users receive £100 credit for Harvey Nichols every year, without any catches. This is presented as £50 from January to June and another £50 from July to December.

You can use this credit online and in-store, and there’s no minimum spend. If you spend under £50, you get 100% of your purchase reimbursed by AMEX. This is great if you are already purchasing high-end cosmetics, food, wine, or fashion.

3. £300 Annual Dining Credit

One of the favourite perks is that users receive £300 per year to spend exclusively on food.

The £300 sum is broken down into £150 at 160 different UK restaurants and £150 at 1,4000 international restaurants. This credit is valid for the full calendar year and resets on January 1st. You don’t need to spend £150 in one pop, and it’s a cumulative scheme.

Perfect for foodies, especially if you’re overseas often.

4. Hotel Status

As long as you hold your Platinum Card, you’re also eligible for status in top hotel schemes. This makes hotel booking much easier and allows you to redeem additional benefits while on the road.

AMEX hotel schemes include:

• Gold in MeliaRewards
• Premium in Radisson Rewards
• Gold in Hilton Honors
• Gold in Marriot Bonvoy

5. Delta and Eurostar Lounge Access

Travel is the focus of this credit card, and all cardholders can redeem Delta and Eurostar lounge access as long as they’re a current card holder.

The Eurostar lounge access is only available in Paris, Brussels, and London, and you can redeem it no matter your class of travel. Guests aren’t allowed access to the Eurostar lounge, except for partners with a supplementary premium on your Platinum card.

Delta lounge access can be used whenever you fly with a Delta flight, but you must pay $29 per guest you’re travelling with.

6. Exclusive Event Access

American Express runs an exclusive events programme that grants users access to a mix of unique paid and free events. All are usually linked with top restaurants and shows.

This American Express benefit is about leisure, from private meals with high-profile chefs to concert tickets. You won’t necessarily save cash when you attend these exclusive events, as many outprice standard meals or event tickets. But it’s still an excellent way to try new experiences and access premium entertainment.

7. Car Hire Insurance

AMEX Platinum Cards provide full car hire insurance, meaning you don’t need to worry about extra insurance policies while hiring a car at home or abroad. A very useful perk is you hire a car more than once or twice per year, and particularly great for family holidays.

8. Full Travel Insurance

Perhaps one of the most important benefits of the AMEX Platinum Card is that it provides full travel insurance for you and your family — as long as everyone is under 70 years old.

The complimentary travel insurance insures five other people by giving them supplementary cards on your account. Some travel insurance benefits require paying for your travels with an American Express card (any UK AMEX card, not only platinum). However, the core medical benefit is always automatic.

This is excellent if you want to skip booking travel insurance and spend more time booking your holiday.

9. Priority Pass Airport Lounge Access

Finally, when you have an American Express Platinum Card, you (and your main supplementary cardholder) receive a Priority Pass card.

A Priority Pass card provides free access to over 1,300 airport lounges worldwide, including the Plaza Premium and Aspire Lounge in Heathrow Terminal 5. You can also take a free guest, meaning a family of four can enter with two adult Premium Pass holders.

You can also access American Express’s “Centurion” lounge network. Most of these are in the US, but AMEX is slowly rolling them out globally. For example, you can find them in Melbourne, Hong Kong, and Heathrow Terminal 3.

Pros and Cons of AMEX Platinum for Holiday Makers

It might seem like this card is geared towards business travel. But here are the benefits and drawbacks for holidaymakers.

Pros:

• Full family travel insurance
• Lounge access for frequent travellers
• Car hire insurance
• Upgrades and hotel benefits
• £150 food credit for overseas spending

Cons:

• Eurostar and Delta lounge access is only for one person
• Hotel benefits are for specific hotel brands
• £150 of the £300 food credit must be used within the UK
• Exclusive events can cost more and aren’t holiday-orientated

Overall, this card is geared towards business travellers. However, you can make it work for your holidays if you travel frequently (over three to four times yearly). If you’re booking one or two holidays, you might be unable to use all the perks.

The Takeaway: Is The Platinum Card For You?

So, there’s a large annual fee and a plethora of benefits. But is the AMEX Platinum Card right for your holidays?

Getting the most value out of this premium credit card depends on your long-term use of the card’s benefits. If you can spend £4,000 in 90 days to meet the card’s welcome bonus, you can enjoy 30,000 membership points, £300 of free food, and £100 of Harvey Nichols goodies and still have made a profit on the card.

However, once you pass the first year and welcome bonus, the card’s profitability depends on how often you travel. You’ll want to use the annual vouchers, hotel reward schemes, and lounges to earn the fee back. It’s ideal if you’re a frequent traveller, but tricky if you’re UK-based for most of the year.

Frequently Asked Questions

Have more questions? Here are some common FAQs about the Platinum American Express card.

Is It Worth Getting a Platinum AMEX Card in the UK?

Yes, the Platinum AMEX Card has many benefits that can be used in the UK. These include £150 for UK meals, £100 for UK Harvey Nichols purchases, and the Eurostar London lounge access.

Is an AMEX Platinum Card Hard To Get?

The AMEX Platinum Card isn’t tough to get. You need a good credit score (around 700) to earn over £35,000 per year and be over 18. Some sources report that applicants with credit scores in the 600s have also been accepted.

Is Amex Platinum Higher Than the Gold?

Platinum cards have higher minimum limits than gold cards and have higher annual fees. The Platinum card is catered to travellers, whereas the Gold is designed for everyday spending.

How Much Income Do I Need for AMEX Platinum?

The American Express “About” section states you must earn at least £35,000 to be eligible for the AMEX Platinum card. However, income isn’t the only deciding factor. The application also considers previous debt, your credit history, and mortgages.

Can I Use the Sign-Up Bonus if I Have a British Airways American Express Card?

You can use the AMEX Platinum card welcome bonus even if you have a British Airways American Express Card. You don’t receive a sign-up bonus if you already hold a Platinum, Gold, or Green Card.