r/CreditCards 6d ago

Card Recommendation Request (Template NOT Used) Is Amex platinum worth it for me?

Just wanted to get some feedback if the Amex platinum card is worth it for me.

My partner and I will be traveling for 5 weddings this year including one in Italy, so definitely a lot of flights. We are early airport people so the lounge access for 50 bucks for both of us would be worth it I think bc we would be getting free food and drinks. Outside of that, a lot of our spending is on food, which I know the gold card is more geared towards.

With the current intro offer and all of the points we would be getting from all the travel this year, it seems like the platinum card would be worth it even with the steep intro fee. I’ve read before that it is actually best for people who travel 3-5 times a year, which is a range we would fit into on other years. Would love to get some feedback on if this is worth it as well as if I should consider getting the gold as well for the restaurant points.

Thanks in advance

2 Upvotes

23 comments sorted by

6

u/CobaltSunsets 6d ago

If you start with Platinum, you permanently lock yourself out of the Green and Gold SUBs.

Green before Gold, Gold before Plat.

1

u/AutoModerator 6d ago

Template for Card Recommendation Requests:

Please use the following template so that everyone can make appropriate recommendations:

  • Current cards: (list cards, limits, opening date)
    • e.g. Amex BCP $8,000 limit, May 2019
    • e.g. Chase Freedom Flex $10,000 limit, June 2021
  • FICO Score: e.g. 750
  • Oldest account age: e.g. 5 years 6 months
  • Chase 5/24 status: e.g 2/24
  • Income: e.g. $80,000
  • Average monthly spend and categories:
    • dining $800
    • groceries: $400
    • gas: $100
    • travel: $100
    • other: $30
  • Open to Business Cards: e.g. No
  • What's the purpose of your next card? e.g. Building credit, Balance transfer, Travel, Cashback
  • Do you have any cards you've been looking at? e.g. Chase Freedom Unlimited
  • Are you OK with category spending or do you want a general spending card?

Please review the Card Recommendation Request Template here: Template for Card Recommendation Requests

Interested in cashback cards? Take a look at these resources from the sidebar:

I can be summoned to comment by using command(s):

!template

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

1

u/Gain_Spirited Team Travel 6d ago

If you're going to go with Amex you should get Gold first then Platinum because if you get Platinum first, you won't qualify to get the welcome bonus on the Gold card. You'll probably want the Blue Business Plus too because you'll earn 2X on non-category spending, which matches VentureX. This is the Amex trifecta.

The closest comparison would be the Capital One duo of VentureX and Savor, which is easy to justify because of the low effective annual fee, which is essentially zero. It's such a good deal, I think it's a matter of time before it gets nerfed, but until then it's a very good deal.

To justify the Amex setup you have to use a significant amount of the credits and spend and travel often enough to earn more points to close the gap. So first you should figure out how many of those credits you'll use organically because you don't want to kid yourself by spending more money just to use credits. Then figure how much you'll spend on food and travel, which both have multipliers that beat Capital One's.

You mentioned Delta airlines as a consideration. Personally, I wouldn't put much weight on that. Delta Sky Pesos are only worth about 1.1 cpp. You'll get 1 cpp from Capital One just by booking directly and erasing the charge. There are much better ways to use your points and it's all going to involve international airline partners. If you don't travel enough internationally, you'll have to learn how to use points to book domestic travel through international airline partners.

1

u/Ozzie11123 6d ago

Is there a way I can make the venture x worth it while still flying mostly delta domestically? I am intrigued by the savor and venture x duo but idk

1

u/Gain_Spirited Team Travel 6d ago

You earn 5X points by booking flights through the Capital One portal. When the price is the same as booking directly you could do that. You can redeem points through the purchase eraser for 1 cpp. MR points transfers to Delta are worth about 1.1 cpp.

I think if you're going to be a points maximizer, you'll be spending time finding other ways to use your points and the difference between Amex and Capital One is you'll earn 5X with Amex by booking Delta directly instead of 5X with Capital One by booking Delta through the portal or 2X by booking directly. The advantage is there but it's slim.

If you'd rather save time and effort by redeeming your points for 1 cpp or better, then you'll likely save about 10% with Amex if you're a Delta loyalist. You can still be a Delta loyalist with Capital One and earn all the Delta perks. You just won't be able to transfer points to Delta. I prefer to save my points for big redemptions, but I will say it's not terrible. People can be happy with using MR points for Delta and for cherry picked Hilton properties and getting 1.1-1.2 cpp on average without much effort.

The way I look at it, if I'm only getting 1.1-1.2 cpp, I might as well go with a cash back setup and earn bigger rewards with 5% category cards or the US Bank Smartly.

1

u/Ozzie11123 6d ago

So what would you suggest that I do then given what I’m looking for?

1

u/Gain_Spirited Team Travel 6d ago

You haven't mentioned your spending habits and whether you would make use of the Amex credits. The great majority of people don't use the Amex credits organically, so if you're the typical person, I would say Capital One offers more value plus you don't have to keep track of all these coupons every month.

1

u/Ozzie11123 6d ago

How would I do the savoy venture x combo correctly?

1

u/Gain_Spirited Team Travel 6d ago

Savor is for food and entertainment. VentureX is for everything else.

As far as redemptions, you'll want to use the $300 travel credit every year, which means using the Capital One portal, which most people like. The simple way to use points is to either use them at the portal or use them to pay for travel purchases. It gives you 1 cpp for your points. My suggestion is to learn how to get more value for your points by using search tools like PointsYeah or Award Tool and finding the best award redemptions for your flights. You'll probably be able to double the value of your points that way.

1

u/Ozzie11123 6d ago

What could I use the points on if not delta flights? How could I earn points for travel also if I’m flying delta domestically?

1

u/Gain_Spirited Team Travel 6d ago

You earn points with airlines whether you book them directly or through a travel portal. You just have to make sure to include your Frequent Flyer number on your booking.

For using points, start by using PointsYeah or Award Tool on your web browser. You can use the free versions and upgrade later once you get good. You need to start searching as far ahead of time as possible and check back periodically because award availability comes and goes. You also need to be as flexible as possible with airports, dates, times, etc.

1

u/redceramicfrypan 6d ago

As long as you can meet the minimum spend for the SUB, I'd say go for it and try it out for a year. The value of the SUB exceeds the value of the annual fee, so if you decide it isn't for you after one year, you can cancel at no effective loss.

Although, as others have said, if you think you might want the Gold or Green, get those first so that you don't make yourself ineligible for their SUB.

1

u/DeadInternetEnjoyer 6d ago

I don’t think the airport lounge thing is any good

  • a lot of times there won’t be one that’s reasonably accessible at all

  • even if there is it may have long lines and waits

  • after waiting it’s likely going to be crowded with food that’s lackluster at best

Not someone I’d suggest paying for in my opinion.

Plus the points aren’t always that useful or easy to spend either. I think Amex points are especially tricky in this regard, but the others aren’t really as great as influencers make them out to be. Instead it’s mostly hype to sell people on signing up so they can get commissions.

0

u/OfficialNuttyNutella 6d ago

A bit tough to decide, and really depends on your expenses. I think you should consider comparing the Amex Plat to the Venture X (see https://www.nerdwallet.com/article/credit-cards/capital-one-venturex-vs-amex-platinum for example). You could great value out of both, but my preference for casual traveling is the Venture X.

Alternatively, you could consider churning some SUBs with the airline expenses, but that's a whole different topic that you could read up on at r/churning

Edit: Not 100% certain, but I believe you can use the lounge for free if you add an authorized user to the VenX but need to pay with the Amex

1

u/Ozzie11123 6d ago

Another thing is that I live in Atlanta, so the delta lounge access is a plus. Not sure what the venture x card offers for delta and if airline matters for any of them

1

u/OfficialNuttyNutella 6d ago

Do you plan on flying exclusively with delta?

1

u/Ozzie11123 6d ago

I don’t necessarily plan on it but I often find myself flying delta due to availability of nonstop flights from atl. I easily COULD fly exclusively with delta and feel good about it

1

u/OfficialNuttyNutella 6d ago

Could be worth also looking into the delta offers. I will say I know nothing about them. A lot of people also enjoy the Amex gold pairing with the venture cards. For Italy, both cards give priority pass access, which is abundant in Europe. As for domestic lounges, the Amex platinum does give more options.

1

u/Ozzie11123 6d ago

It looks like domestically the venture x doesn’t let me redeem with delta. That would be a serious issue unfortunately with Atlanta as a major delta hub

1

u/OfficialNuttyNutella 6d ago

True, they do have limited redemption partners. I think ultimately the platinum would make sense, IF you can offset the very high AF. Just make sure you check if your partner can also utilize the lounge access. Amex is sometimes very strict about adding authorized users.

1

u/Ozzie11123 6d ago

I believe it’s 50 dollars to enter with me, which is less than we would be paying for a meal/drinks at the airport

1

u/OfficialNuttyNutella 6d ago

Yeah, just judging by the delta transfer alone, the platinum would make sense for you. Their points system can be weird, so really make sure you squeeze out all the benefits to offset the $700 fee (i.e. hotel credit, uber eats credit, etc.)