Hi guys, we are in need of a new card to earn some points. Was looking at the Amex Explorer but came across the Platinum and value seems to be quite decent?
Some benefits
Annual fee is insane at $1400 but if you add on things like unlimited lounge access, free room upgrades etc.. We travel once a year overseas, usually to Asia.
What do you guys think?
Can anyone explain how travel credit work through Amex Reserve caed ? I never understood that benefit.
Apparently, if you have this Platinum card, you get a Platinum Reserve Credit Card with no annual fee. This card comes with a yearly $400 travel credit. I could be wrong but i'm fairly certain.
If that’s the case then this is a brilliant charge card worth the fee
I can confirm that this is indeed the case.
I don't think the credits can be used for experiences right? And they can't be combined.
Correct me if I'm wrong
Edit
Just checked, yes you can use them for experiences.
Do I think think it's worth it to lose money?
No.
Of course many people believe they make money by using credit cards but as far as I can see this is delusional.
If you spend over $250k per year on this card it can also get you an invite to Centurion Amex.
Thanks for the feedback.
I used to have one of these, many years ago, but gave it up because I just wasn't getting the value. I'm not familiar with all the details of the card these days, but imagine they would be broadly similar to when I had it. You need to spend a lot on the card to make it worthwhile in terms of points/rewards, etc. It really is geared to someone who spends a lot on travel and restaurants, i.e. basically lives in a hotel room.
We travel once a year overseas
Just basing it on what you've written and not knowing your spending habits, its not worth it.
Most of the benefits relate to travel. If you only travel once, it's kind of pointless. I got rid of mine when I started having less time to travel. Just couldn't justify the high (and constantly growing) annual fee anymore.
Really only you can determine if its worth it for you.
Only you know the frequency you travel, the amounts you spend and where (this impacts the merchant fees payable which reduces the value of the points).