PROMO: Receive up to 135,000 Membership Rewards® points (enough to redeem a return trip to Europe or USA (West Coast) or (Canada) + a complimentary one-night stay at The Ritz Carlton, Millenia Singapore (worth S$590) + S$100 cash
The AMEX Platinum Credit Card is a pricey but exclusive option for affluent social spenders who enjoy luxury shopping, dining, and spa visits locally, as well as golfing in the APAC region.
Receive up to 135,000 membership rewards + a complimentary one-night stay at The Ritz Carlton, Millenia Singapore with a minimum spend of S$6,000 within 2 months of card approval (Valid until 29 May 2024) + Get S$100 cash (Valid until 27 March 2024) Click to apply.
It’s hard sorting through all the AMEX platinum cards sometimes. I mean, you have The Platinum Card, the AMEX Platinum Reserve Credit Card, and finally the AMEX Platinum Credit Card.
What’s the difference? And which one is best for you?
In this case, we’ll be reviewing the American Express Platinum Credit Card, which is basically the beginning of the “platinum” tier in terms of annual fees, benefits, and prestige – if that’s still a thing these days.
| Age | 21 and above for principal cardholders; 18 and above for supplementary cardholders |
| Annual Income | Subject to AMEX’s minimum income requirement and internal assessment criteria |
It used to be that having a platinum credit card meant you were part of the upper echelon of society – you had to earn a minimum of $100,000 or be specially invited to apply for the card.
These days? Not so much. Platinum credit cards are now more accessible in general, though they still carry higher income requirements than entry-level cards. The exact requirements for the AMEX Platinum Credit Card are not publicly disclosed, but it’s considered to have a lower income requirement than the other platinum cards. (It was previously $50,000, then revised upward to $80,000, and then AMEX decided to unpublish the requirement entirely.)
If you have your heart set on this card, feel free to apply as long as you’re somewhere within the ballpark of those numbers. (No worries even if your application is rejected; the penalty for credit card rejections is inconsequential to your credit history over the long term)
We’ve already mentioned that this is like the “baby” of the platinum credit cards, made all the more evident when you compare its fees with those of the other platinum credit cards:
| Credit Card (American Express) | Annual Fees |
|---|---|
| The American Express® Platinum Credit Card | $324 |
| American Express® Platinum Reserve Credit Card | $540 |
| The Platinum Card® | $1,728 |
Apart from the difference in annual fees, all other fees are identical across all three Platinum cards.
The dining privileges of the AMEX Platinum Credit Card are undoubtedly noteworthy. But what other benefits does this premium card have to offer? And more importantly, do the benefits outweigh the fees? We’ll explore that next.
Besides the usual vouchers, you can use your points to get rewards such as a limited-edition Teeling Whiskey, offset the cost of a new iPhone 14, or waive the annual fee. And if you’re planning to convert your points into miles for your next trip, transfer fees are permanently waived with the AMEX Platinum Credit Card.
The rate varies depending on where you spend:
If you’re wondering how much your points are worth, here’s a sample of what you can redeem from the AMEX rewards catalogue (accurate :
| Exchangeable Rewards | Points Required | Spending Required (assuming spending is at 10x Partners) | Actual Rebate Percentage/Rates |
|---|---|---|---|
| $100 IKEA voucher | 22,200 | $3,552 | 2.8% |
| $50 iTunes voucher | 11,100 | $1,776 | 2.8% |
| $10 Isetan voucher | 2,200 | $352 | 2.8% |
| 250 Krisflyer miles or Highflyer points | 450 | $72 | S$0.28 per Krisflyer mile/ Highflyer point |
Under AMEX’s Love Dining programme, users get access to a suite of deals at the luxury hotels and restaurant partners listed. Some examples of partners include:
Hotel partners:
Restaurant partners:
Cardholders get savings of up to 50% on their total bill depending on the number of diners:
| Number of Diners | Dining Privileges |
|---|---|
| Dining alone | Up to 15% savings |
| Two to Dine | 50% savings |
| Three to Dine | Up to 35% savings |
| Four to Dine | 25% savings |
| Five to Ten Diners | 20% savings |
(Clearly, the program is pushing you to dine in as a pair to maximise your benefits.)
Although the points never expire, it’s unfortunate that the earn rate on this card is one of the lowest in the market.
Base rates for both local and overseas spending is 0.69 miles, whereas most other miles cards in the market would offer at least 1.2 miles per S$1 spent locally and 2 miles per S$1 spent overseas.
Even with the boosted earn rates at Platinum Partners, the 3.44 MPD earn rate still doesn’t compare to the 4 MPD that other rewards cards offer. (Granted, those usually have a much lower spending cap.)
Considering it’s a platinum card, it doesn’t offer much in the way of luxury benefits. The 10Xcelerator programme only has 57 partners islandwide, of which 4 are for insurance.
Although AMEX’s Platinum Lifestyle programme offers free drinks at prestigious venues like Fairmont Singapore’s Anti:Dote along with spa vouchers from high-end wellness centers such as Adeva Spa, some may feel that the luxury perks could be more comprehensive. For instance, the programme doesn’t include categories such as exclusive experiences.
Here are some of the participating partners you can expect from each category:
Unfortunately, overseas spending at Platinum partners do not entitle cardholders to the boosted point earning rates.
The AMEX Platinum Credit Card offers the best dining benefits with up to 50% off bills at selected restaurants. The annual fee is also relatively low at S$324, although the earn rate is also lower compared to other premium cards.
The UOB Visa Infinite Metal Card tops the list for those in search of luxury experiences and lifestyle perks such as golf privileges, fine dining, and hotel upgrades. While the annual fees are on the higher end, cardholders benefit from perks like co
mplimentary drinks at fine dining restaurants, boosted local mile earn rates, and travel concierges.
The Citi Prestige card is designed for affluent travellers seeking to accumulate miles without the hassle of monitoring spending categories. With Citi PayAll, cardholders can earn points on various expenses like taxes, rent, condo management fees, and utility bills (at the cost of a small service fee).
This card is an option to consider if:
This card is NOT a good option to consider if:
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