Every few months, I get an offer from American Express for a Platinum card.  I’ve been a good customer of Amex’s for the last 10 years.  I started off with the Optima card, and found I had little use for it, and moved on to the Amex Blue.  I’m perfectly willing to admit, I went for the Blue because I thought it was a great looking credit card.  At the time, the Blue card also pitched itself as way to perform secureonline purchases via this device you hooked up to your computer.   I never got that device, but I have used the card for online transactions.  Though now if I transact with a vendor that does not have an established reputation I tend to use Bank of America/MBNA ShopSafe service to create a temporary credit card number for use.  

I keep hoping that Amex will offer me the platinum card with a waiver of the annual fee ($450) so I can try out of some the benefits.  The only benefits that I really care about are:

  • Free Companion Tickets (upto 4 times a year)
  • Complimentary Access to Airline Lounges 

I travel by air maybe only a half a dozen times a year, but traveling, especially international traveling, is one of the things I always want to do more of.   Also having had a job where I used to travel alot, and had access to the airlines lounges, I really do appreciate the benefit of waiting in comfort with free drinks and internet access over scrambling for a seat near an outlet.  In the past when I got the offer for the Platinum card, I would dismiss it out of hand given the high annual fee.   Recently, I heard from a friend that he has been effectively using the companion ticket benefit for travel with his girlfriend.  Most recently he used it to book a companion flight to Hawaii.  I had always assumed that in reality it would be difficult to book a companion ticket using the Platinum card, apparently it’s not quite as difficult as I had originally believed.   It’s not easy, but far from impossible.   He effectively payed for his annual fee by booking that one ticket to Hawaii.  Normally, booking two trips should be enough pay for the card.  I make at least two trips a year with my girldfriend, and I could wait around in the club lounge… Still that $450 sticker prevents me from taking the plunge.    Like any program, Costco included, the benefits can easily outweigh the cost as long one actively takes advantage of the benefits.