Why I sign up for AMEX Platinum Charge card

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The AMEX Platinum Charge has an annual fee of $1712, but why am I willing to sign up and pay for it and how much I can recover from the freebies?


The AMEX Platinum Charge comes with a pack of perks however the annual fee will cost $1712 and this is by far the highest amount of annual fee that I paid. The second highest is SCB X Card which is $695.50.

I try to breakdown the benefits below so that I am able to justify to my other half why I am willing to pay so much to own this card.

Amex Platinum Card

Sign up through my MGM link and you will receive 40,000 Membership Rewards Points with $5000 spend within the first 3 months. 

Benefits and Value Overview

The value I impose on the benefits is base on how I feel and should not be a conclusive amount as It is subjective base on individuals. 

Benefits Value
75,000 MR Points Bonus (1.5 cents) $703 
2 nights Banyan Tree or
Mandarin Oriental
$624
Airport Lounges $300
Travel Credits $800
Hotel and Car Rental Status $500
Dining Vouchers $300
Spa Vouchers $450
Total $3677

Conclusion

By paying $1712 I am expecting to get a value of $3677 which is quite a good deal. Let’s say I took out $703 which is from the spending I am still getting a value of $2974.

As i foresee my family to be traveling at least 3 times a year, the lounge access is quite useful for us and not forgetting that with Hilton Gold status, I do not need to do fast track yearly anymore to maintain the status.

Author: The Financial Guy

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