American Express Platinum Card
The American Express Platinum card is a charge card with a $695 annual fee. It requires a 720 credit score, 2 years of credit history, and $50,000 in annual income. The APR ranges from 15.99% to 22.99%.
- No preset spending limit
- Pay in full monthly or use Pay Over Time feature with interest
- Earn and redeem Membership Rewards points
- Airport lounge access through Amex Global Lounge Collection
- Recommendations for applicants
Payment Information
If you do not pay off the American Express Platinum card every month, you will be charged interest on any purchases added to a Pay Over Time balance.
- Interest charges apply beyond full payment
- Late fee and loss of grace period for not paying at least the minimum balance
- Pay Over Time limit and plan details
Comparison with Sapphire Reserve Card
The Sapphire Reserve card offers lounge access, an annual travel credit, and easier annual credit utilization but lacks additional statement credits compared to the Platinum Card.
Worth of the Platinum Card
The value of the American Express Platinum Card depends on utilizing enough benefits to offset the annual fee. If not, it may not be worth it.