American Express has one of the best lines of cards with the best rewards and rewards categories. One such card is the American Express Platinum Card, which has one of the best rewards, specially made for frequent travelers. The Platinum Card from American Express is a rewards credit card where cardholders earn Membership Rewards points as they use the card.
The cardholder will receive points from different categories, with the most earned from travel and travel purchases annually. Aside from the Membership Rewards points, the cardholder earns benefits and offers, including statement credits and complimentary entry to exclusive spaces.
The Platinum Card from American Express is a high-value card with high-value benefits worth more than other competing cards. Although the card has a $695 annual fee relatively high, the benefits earned by the cardholder make it worth it. The cardholder will earn one point per dollar on eligible purchases or up to five points per dollar on travel purchases.
Cardholders can redeem the Membership Rewards points or transfer at a 1:1 ratio with partner airlines and hotels. That way, the cardholder will maximize the value of their points, as is the reputation of the Platinum Card from American Express.
Key Takeaways
· You can earn Membership Rewards points on your American Express Platinum Card by using the card to pay for eligible purchases
· There are different categories to earn Membership Rewards points, with five points per dollar spent on prepaid hotels booked through American Express Travel
· You can redeem the Membership Rewards points through gift card redemptions, the Pay with Points option, or transfer points to loyalty programs
How to Earn Points with the Amex Platinum Card
The Amex Platinum Card is a card that gives the best benefits tailored toward travel or other travel purchases. Also, the cardholder should spend more to maximize the benefits and rewards the card offers. The Platinum Card has an annual fee of $695, but the 0 foreign transaction fees make it easily accessible globally.
The annual fee makes all the benefits worth it if you fully utilize the card, especially during travel. Some of the exclusive spaces the cardholder has complimentary access to include the Global Dining Access by Resy.
Whether the cardholder has the Amex Platinum Card or the Amex Business Platinum Card, the value of the points remains the same. Also, the two cards have the same redemption options, including transferring points to loyalty programs of partner airlines and hotels. The cardholder should look forward to earning Membership Rewards points which cannot expire as long as the account remains open.
The cardholder can also transfer the points to one Platinum Card account to have more points for future use. The Platinum Card allows authorized users or employee cards for the Amex Business Platinum Card to earn points equal to the primary card.
The Amex Platinum Card offers a once-in-a-lifetime welcome bonus of 80,000 Membership Rewards points upon card membership. However, the cardholder must spend $6,000 within the first six months of account opening to receive the bonus offer. Also, there are other pre-set conditions made by American Express to ensure only legible cardholders receive the welcome bonus.
The 80,000 Membership Rewards points are worth over $800 if redeemed at one cent per dollar spent. Thus, the value of the Platinum Card remains equally high even after the first year after receiving the welcome bonus.
Earning Rewards
The Platinum Card from American Express is packed with rewards from different categories, allowing the cardholder to spread their spending. Usually, the cardholder earns 5X Membership Rewards points by booking flights and prepaid hotels directly without third-party platforms. That means the cardholder will earn five points per dollar for booking flights or prepaid hotels.
Alternatively, the cardholder will receive the 5X Membership Rewards points by booking flights and prepaid hotels through American Express Travel. American Express Travel is a platform used by cardholders of American Express cards for easy access to prepaid hotels and other travel-related purchases.
However, earning five points per dollar on flights and prepaid hotels has a cap on the amount spent on such purchases. The cardholder can only spend up to $500,000 every calendar year to receive five points per dollar. After that limit, the cardholder will receive one point per dollar spent on those purchases made using the Platinum Card.
Other eligible purchases made through the American Express Platinum Card will receive one point per dollar spent. Some eligible purchases that earn the cardholder one point per dollar spent include dining in specific restaurants.
With an 80,000 Membership Rewards points boost for the first year of card membership, you are already far ahead with points. However, you will earn only a few points if you are not a frequent traveler since most points are earned through travel. Therefore, you should look for an alternative card if you spend more daily than travel and travel-related purchases.
Try booking through the Amex Travel website to increase the number of points you earn through travel. As you accumulate your points, you can later use them through various redeeming options, including using the Membership Rewards program.
Redeeming Rewards
American Express offers several ways the cardholder can redeem their Membership Rewards points. First, the cardholder can redeem the points and pay for flights or prepaid hotels booked while traveling. The Pay with Points program allows cardholders to pay for their flights and other eligible purchases using an eligible card.
The cardholder will redeem the points at one cent per point for flights and 0.7 cents per point for rental cars, cruises, and prepaid hotels. Alternatively, cardholders can use Pay with Points for a room upgrade or upgrade an airline ticket and for shopping.
Another way of redeeming points is transferring points for a maximum value of two cents per point. Transferring to loyalty programs belonging to airlines and hotels will offer the best value for the cardholder’s points. Many hotels and airlines offer a 1:1 transfer ratio, which means the points’ value will remain the same during the transfer.
Some of the main partnering airlines and hotels include Delta Airlines, Emirates Airlines, Hilton Hotels, and Marriott Bonvoy Hotels. Also, you can use the points to upgrade your ticket during the flight using an eligible card as you transfer your points.
Gift cards are another method of redeeming your Membership Rewards points from partnering retailers. A gift card will redeem the points at one cent per point and 0.6 cents per point against a statement credit. Paying with your points during checkout is only available for partnering retailers, including Walmart, Saks Fifth Avenue, and Amazon.
The points’ worth when using this option is 0.6 cents per point, worth more or less, depending on the eligible purchase made. Therefore, gift cards offer the most value for your points while shopping in retail.
Rewards Potential
The rewards potential of a card means how much and how fast a cardholder can receive rewards from their card. The American Express Platinum Card is a high-value card with the potential of a high reward, ensuring the cardholder earns the most points. However, the cardholder will receive most Membership Rewards points during travel than making an eligible purchase.
Therefore, the Platinum Card is best suited for frequent travelers who can earn more points every calendar year using their eligible card.
For example, an individual earns $120,000 every calendar year with $60,000 in expenses with $30,000 charged to the card. When the cardholder pays $3,000 for airfare and prepaid flights booked through Amex Travel, they receive five points per dollar spent. The cardholder will earn 15,000 Membership Rewards points on flights and prepaid hotels only.
The cardholder can make other eligible purchases using the remaining $27,000, earning 27,000 Membership Rewards points. With an additional 80,000 Membership Rewards points for a welcome bonus, the cardholder has 122,000 points at the end of the calendar year.
Therefore, the cardholder will earn more points within the first calendar year of card membership, but the card’s value remains high. The more the cardholder spends on travel and other eligible purchases, the more points they will earn using an eligible card. Additional Platinum Cards can earn more points for eligible purchases, but they are limited on some benefits, including redeeming the points.
Thus, the American Express Platinum Card has a great rewards potential for cardholders who maximize the card’s benefits.
How to Use the Amex Membership Rewards Points
Earning and redeeming the Membership Rewards points is one thing, while using the points is another. Cardholders can use the Pay with Points option for using the Membership Rewards points to make an eligible purchase. However, different merchants have different policies for the cardholder who use points for shopping, whether online or in-store.
Therefore, you must understand each merchant’s fine print before shopping using your Membership Rewards points. For example, you can use the points to check out in select partnering retailers, including Amazon and Saks Fifth Avenue.
Cardholders may use the Membership Rewards points to upgrade their airline tickets or have a hotel room upgrade. Thus, the points can come in handy during travel, allowing the cardholder to enjoy some exclusive perks. Also, cardholders can book flights and car rentals and pay incidental fees using their points, saving them money in return.
Therefore, accumulating their points to use them for making some eligible purchases is a great benefit to the cardholder.
Another way of using the Membership Rewards points is by using the points to clear charges on the card, especially during shopping. The cardholder must meet some requirements to pay for charges using their Membership Rewards points. For example, the cardholder must have over 1,000 points in their eligible cards to be able to pay for the charges.
Also, the option is only available to a primary eligible card, meaning additional Platinum Cards or Corporate Platinum Cards cannot access this feature.
Conclusion
The Platinum Card from American Express is an amazing card specially created for people who travel frequently. The Platinum Card comes packed with benefits, including exclusive perks such as exclusive reservations through Global Dining Access by Resy. Also, since the Platinum Card is a rewards credit card, cardholders will earn Membership Rewards points as they spend using the card.
However, the cardholder will earn different points from different categories of eligible purchases made by an eligible card. The cardholder will earn most rewards, benefits, and offers relating to travel and other travel purchases every calendar year.
Cardholders will earn five points per dollar spent on flights and prepaid hotels booked through the Amex Travel program. Other eligible purchases will earn the cardholder one point per dollar spent on purchases such as rental cars. American Express offers various means of redeeming the points, including gift card redemption and transferring to partner airlines.
The redemption options offer different points values, with the highest being two cents per point for transferring points. Also, the cardholder can use the points to shop or pay charges that may occur, especially during shopping.
FAQs
How much are Amex Platinum Membership Rewards points worth?
The Membership Rewards points worth usually depends on American Express’s redemption options. The points have a value of between 0.5 cents per point and up to two cents per point while redeeming them. Using gift cards or paying for flights while redeeming points will earn the cardholder one cent per point.
Cardholders will receive 0.7 cents per point for booking prepaid hotels and checking out partnering retail stores using their points. Transferring points to partnering airlines and hotels or their loyalty programs will earn the cardholder up to two cents per point.
How many points per dollar does Amex Platinum Card give?
Cardholders will receive five points per dollar spent for paying for flights and prepaid hotels directly without using third-party platforms. Alternatively, cardholders will receive five points per dollar spent while paying for flights or prepaid hotels through Amex Travel. However, there is a $500,000 cap for receiving the five points per dollar spent every calendar year.
After hitting the cap, cardholders will receive one point per dollar spent for flights and prepaid hotels booked directly or through Amex Travel. Other eligible purchases, such as booking rental cars, made by the Platinum Card will receive one point per dollar.
How can I redeem the Amex Platinum points?
American Express offers different options for redeeming the Membership Rewards points from an eligible card. The cardholder can use gift card redemptions for partnering retailers, which earns the cardholder one cent per point. If the cardholder uses a statement credit for a gift card, they will receive 0.6 cents per point.
The cardholder can redeem points by paying for flights, hotels, car rentals, and cruises during travel. However, transferring points to airlines will offer the best redemption option, giving the cardholder two cents per point.
