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CNN
2 days ago
- Business
- CNN
I'm a travel expert, and this is why I'm not getting the Citi Strata Elite card
CNN Underscored reviews financial products based on their overall value. We may receive a commission through our affiliate partners if you apply and are approved for a product, but our reporting is always independent and objective. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more. Citi is launching the new Citi Strata Elite credit card, its contender at the high end of the market for travel rewards credit cards. The offering, which competes directly with The Platinum Card® from American Express (see rates and fees) and the Chase Sapphire Reserve®, charges an annual fee of $595. That fee is the lowest of the three, compared to an annual fee of $695 for the Amex Platinum and $795 for the Sapphire Reserve. While those are eye-popping sums, the cards offer benefits and credits that can add up to more value for card holders than the cost of the annual fees. And does that go for the Citi Strata Elite as well? It can, depending on what you value and spend money on. Credit cards should always be considered in terms of the value they bring you, which is, of course, subjective. Below, we'll describe the perks of the Citi Strata Elite card, and why they're not enough to get me to switch away from the Chase Sapphire Reserve as my premium travel rewards card. We'll also tell you why the Strata Elite, while it doesn't work for me, may be a good choice for you. The Citi Strata Elite card has an annual fee of $595, but Citigold® Private Client and Citigold® clients will pay less. The former, who maintain a minimum combined average monthly balance of at least $1,000,000 in eligible linked deposit, retirement and investment accounts, receive a $595 credit the first year — making the card effectively free — and a $145 credit toward the fee each year. Citigold clients who have at least $200,000 in those same assets with Citi get a $145 annual credit. The size of your welcome bonus will depend on where you apply for the card. New customers who apply online and are approved for the Citi Strata Elite can earn 80,000 bonus ThankYou® Points after spending $4,000 within the first 3 months of opening the account. But it's better to apply at a Citi retail branch, because if you do that and are approved, your bonus will be a huge 100,000 points. Even at the lower end, that's enough to fly to Europe or Asia in business class. The card's points earnings are relatively high in some categories: 12 points per dollar spent on hotels, car rentals and attractions booked on 6 points on air travel booked on 6 points at restaurants, including delivery services, every Friday and Saturday from 6 p.m. to 6 a.m. ET; 3 points any other time. 1.5 points on all other purchases. There's one big caveat here: The best returns are reserved for bookings made on the Citi Travel portal. You won't get good returns for buying directly from travel providers, such as airlines and hotels. Booking from a third party, like a card issuer's portal, doesn't get you the same protections or flexibility in case of disruptions, though. With hotels, you won't get points with the hotel's loyalty program or have any elite status recognized either. This can be a major crippling factor for many when considering the Citi Strata Elite. The boosted weekend dining rewards are a refreshing perk in the world of rewards cards, and earning 1.5 points per dollar on everyday purchases outpaces the standard 1 point per dollar offered by competing cards. Still, the need to go through the portal for those great travel earnings is a big downside. Unlike the Amex Platinum and Chase Sapphire Reserve, the Citi Strata Elite doesn't require you to keep track of as many different credits. Yet those credits can amount to $700, more than the annual fee, if you use them all in full: Up to $300 annual hotel benefit: Every calendar year, you'll get up to $300 off a hotel stay of two nights or more booked through Citi Travel. Up to $200 Annual Splurge Credit: Every calendar year, earn up to $200 in statement credits on your choice of up to two merchants among five (1stDibs, American Airlines, Best Buy, Future Personal Training and Live Nation). Up to $200 Blacklane credit: Every calendar year, up to $200 in statement credits with Blacklane, a global chauffeur service (up to $100 January through June and up to $100 July through December). Every four years, you'll also receive a statement credit up to $120 as reimbursement for the application fee for Global Entry or TSA PreCheck. Another useful benefit for travelers are the four day passes per calendar year to American Airlines Admirals Club® airport lounges. A day pass for flyers who don't qualify for access otherwise costs $79, so four passes are worth $316. As a frequent flyer, I love Priority Pass lounges, found all over the world, and the Strata Elite delivers on this front too. The card comes with a complimentary Priority Pass Select membership, giving card holders and authorized users (who can be added for a $75 annual fee) complimentary access to more than 1,500 lounges. This includes up to two guests. Since that level of Priority Pass membership costs $469 annually, this is another great benefit. You also get access to The Reserve by Citi Travel, a collection of 4.5- and 5-star hotels on the Citi Travel platform. When booking one of them with the card on the portal, you'll get a daily complimentary breakfast for two, free Wi-Fi, a $100 experience credit (varies by property) and early check-in, late checkout and room upgrades, subject to availability. In a major win for American Airlines loyalists, the Strata Elite becomes the only credit card that lets users transfer ThankYou points to AAdvantage miles at a 1:1 ratio — something previously only possible through hotel programs like Marriott Bonvoy and World of Hyatt. Transferring points to an airline partner is generally the way to extract the most value, and this feature opens up myriad ways to fly on American or its partners using credit card points. It's a huge development. Even better, the ability to transfer points to American applies to card holders of the much less expensive Citi Strata Premier® Card, with an annual fee of $95. Those with the legacy Citi Prestige card, which is no longer open to applications, can transfer points to American too. Given those benefits, plus the ability to transfer points to American Airlines, why am I not rushing to get the Citi Strata Elite, even though I am a flyer who covers 100,000 miles in an average year? It's simple. I have other cards that get me similar top-tier benefits or earn more on everyday basics. My premium card will remain the Chase Sapphire Reserve, which, even with its $795 annual fee, gives me usable credits that bring the fee down to essentially zero. It earns less than the Strata Elite on travel, with 4 points per dollar on flights and hotels but doesn't require booking through a third-party portal. The Citi Double Cash, our benchmark card for everyday expenses, earns 2 points per dollar on everything, for no annual fee. That's a 33% better return than the Strata Elite on everyday spending. If you aren't concerned about booking travel on a third-party portal, the Citi Strata Elite's high earning rates on flights and hotels are hard to beat. This is a great card for people who dine out on weekends too. No other card earns 6 points per dollar on dining, and if you do most of your restaurant spending on Friday and Saturday nights, the Strata Elite will reap vastly more points on that than the competition. Take stock of the card's overall benefits to see if it makes sense for you. If you spend at one or more of the five merchants offering what Citi calls 'Splurge Credit,' for example, you've essentially got $200 more in your pocket just from using the Strata Elite to pay. Add to that the other perks of the card related to goods or services you would purchase anyway, and see if the combined value at least equals the annual fee. Besides the Sapphire Reserve, the Amex Platinum is another card worth considering for frequent flyers since it earns 5 points per dollar on flights booked directly with airlines or through American Express Travel. It also offers benefits that can offset the $695 annual fee. Another great alternative is the Capital One Venture X Rewards Credit Card, with an annual fee of $395. Like the Strata Elite, it offers its highest points earnings when booking through the issuer's own travel portal, but makes for an excellent daily driver as well, with 2 points per dollar on all spending. Add to that several high-end benefits that travelers value, like top elite status with Hertz, and you have a winner. A great combo to maximize points earnings would be the Citi Strata Premier plus Citi Double Cash, with just $95 in annual fees. The Double Cash would earn 2 points per dollar on all spending, while the Premier would earn 3 points on flights, hotels, restaurants, supermarkets, gas stations and EV charging stations. So, if you travel often or want to, by all means, consider the Citi Strata Elite card — just be aware that a card with such a high annual fee makes sense only for people who utilize enough of its many perks to make the cost worthwhile. Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
Yahoo
03-07-2025
- Business
- Yahoo
I'm a Banking Expert: 3 Ways the $35B Capital One and Discover Merger Could Impact You
According to a recent article on Kiplinger, Capital One Financial Corporation was in the process of acquiring Discover Financial Services in a $35.3 billion deal, which is expected to change the credit card landscape. According to a survey conducted by 78% of American adults were unaware of the Capital One-Discover merger before its approval, with 66% sharing that they believed the merger wouldn't impact their credit card usage. Since the deal was finalized on May 18, 2025, it's worth examining how it could impact you and your financial situation. Discover More: Try This: Here are three ways the merger could impact your finances, according to banking experts. 'This could create a stronger value proposition on debit cards for consumers,' said Tony DeSanctis, a banking expert and senior director at Cornerstone Advisors. 'The newly formed Capital One is not subject to the same restrictions on debit rewards as other banks and credit unions. This could lead to a more compelling offering for checking and debit products for the average American consumer.' Since Discover is one of the few lenders that offers a cash back debit card, consumers can change their approach to daily banking. With Capital One transitioning its debit card to the Discover credit card network, consumers can earn 1% cash back on up to $3,000 in debit card purchases per month. You may find yourself with a new checking account setup that improves your finances. With a cash back debit card, you may even decide to use your checking account to cover bills and expenses over a credit card. For You: 'Consumers need to be aware of changes that are going on with their credit card issuers,' remarked Bobbi Rebell, a CFP and personal finance expert at 'The changing landscape not only can impact the terms of their credit, but there may be new benefits for borrowers that could be worth exploring.' The merger could impact credit card interest rates and fees, as well as the potential rewards. It's likely that consumers may not accept these terms if fees rise or interest rates go up, and start looking to other lenders. If your credit card habits are based on rewards or certain perks, you may need to adjust your approach if the terms change. However, if the terms don't change, then you may not make any modifications to your approach. 'The consumer opportunity could be that the credit card offerings have a more robust value proposition,' noted DeSanctis. He believes that the merger could create a bit more scale, even though Capital One was already one of the top five issuers. While everyone has their own unique approach to credit cards, specific changes to terms can impact how you utilize credit. 'We could also see Capital One come out with a high-end travel card like the Amex Platinum and Chase Sapphire Reserve as a result of the better demographics of the Discover customers,' stated DeSanctis. While speculation has arisen about new credit card products that may become available to consumers, there's still no official information. It's essential to stay informed about notifications and official communications to check if any new options become available to you. If a new card becomes available, you could change how you organize your finances and handle your bills based on the unique perks. As details about the merger and its impact on consumers become available, it's essential to closely monitor any communication you receive from Capital One or Discover. You will likely receive updates on changes to your credit card details. Rebell warned that it was concerning how many people weren't aware of the major merger. 'It's always important to read notices from credit card issuers, and this is just one more reminder that consumers need to be their own best advocates,' she added. You don't want to be caught off guard by any changes to your banking products. You'll want to look out for the following information in the next year or so: Changes to Discover-branded products. New or updated credit card terms from Capital One. Changes in network acceptance. New products that may become available. Banking experts recommend reviewing your credit card policy to familiarize yourself with key details. If there are any changes to interest rates, fees or rewards, you can always shop around to find a better option with another issuer. As always, it's recommended that you stay up to date with any changes. More From GOBankingRates 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on I'm a Banking Expert: 3 Ways the $35B Capital One and Discover Merger Could Impact You Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
02-07-2025
- Business
- Yahoo
Is the new Chase Sapphire Reserve worth it — and what are some alternatives?
On June 23, 2025, Chase changed the annual fee on the Chase Sapphire Reserve® from $550 to $795. Along with this massive increase in membership costs, Chase also added a bundle of new benefits, bringing the potential annual value of the card, according to Chase, to more than $2,700. But even with this massive overhaul, is the Chase Sapphire Reserve worth it? Or is it still worth it for existing cardholders? While over $2,700 of annual value sounds good on paper, we know — thanks to cards like The Platinum Card® from American Express and the Capital One Venture X Rewards Credit Card — that not all premium travel card benefits are the easiest to use. In many cases, trying to use monthly, biannual, or annual credits on largely unnecessary purchases becomes a downright hassle. Enter the Chase Sapphire Reserve, which follows in the footsteps of the Amex Platinum and its various credits. The variation here is that the credits mostly differ between the two cards. The way to find out if the new Chase Sapphire Reserve makes sense for you is to: Look over the benefits and credits. Consider your travel and lifestyle preferences. See if numbers 1 and 2 align. For example, you can get complimentary Apple TV+ and Apple Music subscriptions as a Sapphire Reserve cardholder. If those are services you'd use, that's an annual value of $250. If not, it's a worthless benefit for you and won't add any value to your potential Sapphire Reserve card membership. You can use the same process with each Sapphire Reserve benefit to determine whether it increases your potential to Chase, you can get over $1,200 in annual travel value and over $1,500 in annual lifestyle value from the Sapphire Reserve benefits. Let's take a look at how you might be able to reach these same valuations. Keep in mind that the card's welcome offer and rewards rate aren't included in this analysis. Neither are the no foreign transaction fees, travel insurance, and purchase protection benefits. All of these benefits and features can easily add value on top of what we're about to discuss. Related: Best credit card sign-up bonuses and welcome offers: Enjoy boosted first-year credit card rewards The benefit: Receive up to $300 in statement credits for travel purchases each account anniversary year. The value: Almost every cardholder should get the full $300 value from this benefit. This is one of the easiest and most flexible travel credits available because you just have to use your card to make travel purchases, and there's a lot that qualifies as a travel purchase. The benefit: You can access Priority Pass lounges and Chase Sapphire Lounge by The Club locations for free and bring in two guests for free. The value: Frequent travelers will get the most use out of this benefit since they have the most opportunities to visit airport lounges. However, the actual value will depend on which airports you use most often, as not every airport has Priority Pass or Chase Sapphire Lounge by The Club locations. This level of Priority Pass Select membership is valued at over $450 annually, but the actual value depends on how often you use it. The benefit: Get complimentary IHG Platinum Elite status through Dec. 31, 2027. The value: This benefit only matters if you stay at IHG hotels. There's no actual value attached to having this status, but you can get value from its perks, such as complimentary room upgrades and late checkout (subject to availability). You can also get this same IHG Platinum Elite status with the IHG One Rewards Premier Credit Card, a hotel credit card with a low $99 annual benefit: Receive up to $500 in statement credits for stays with The Edit each calendar year. That's up to $250 from January through June and up to $250 from July through December for prepaid bookings made with The Edit (two-night minimum required). The value: The Edit is a handpicked collection of hotels and resorts from Chase. Booking through The Edit grants complimentary benefits, including daily breakfast for two, a $100 property credit, and a room upgrade (if available). This benefit likely wouldn't provide the full $500 value for every cardholder because you can only select from available hotels in certain locations. And not everyone is trying to stay in these types of fancier hotels four nights a year. Related: See the best hotel credit cards to enhance your hotel stays The benefit: Access the personalized service of Reserve Travel Designers to build and book a custom travel itinerary. The value: This complimentary service is valued at up to $300 per trip. Most people likely aren't going to get that amount of value from this, but we could be wrong. The benefit: Receive one statement credit of up to $120 every four years for applicable application fees for the listed programs. The value: This is a value of up to $120, depending on the program you apply for, every four years. If you don't already have a card that does this for you, it's a good credit. Global Entry is especially useful because it includes TSA PreCheck. Related: How to get TSA PreCheck for free with a credit card The benefit: Get up to $300 annual dining credit each calendar year for dining at restaurants that are part of Sapphire Reserve Exclusive Tables on OpenTable. That's up to $150 in statement credits from January through June and another $150 from July through December. The value: If your dining preferences align with this credit, it can be worth up to $300. If they don't or there aren't any available Sapphire Reserve Exclusive Tables restaurants in your area (or where you plan to travel), this credit may be harder to use. Keep in mind that the available restaurants tend to lean on the fancy side of dining, including many Michelin-starred locations. Check out the best credit cards for restaurants The benefit: Get complimentary Apple TV+ and Apple Music subscriptions through June 22, 2027. The value: These services provide a $250 annual value if you use them. At the very least, many people can get value from an Apple TV+ subscription and watching its many award-winning shows. The benefit: Receive a complimentary DashPass membership for 12 months when you activate by Dec. 31, 2027. The value: The value of this membership is highly variable, depending on whether you use food delivery services. If you do, it also depends on whether you use DoorDash. We don't see this membership being as valuable for a lot of cardholders. The benefit: DashPass members receive up to $25 each month to spend on DoorDash. That's a $5 monthly promo for restaurant orders and two $10 monthly promos for grocery, retail, and other orders. The value: Again, if you don't even use DoorDash, these won't add any value for you. Otherwise, this could be at least $60 in restaurant orders during the one year you have a complimentary DashPass subscription. The benefit: Get up to $300 in StubHub statement credits per calendar year. That's up to $150 in statement credits from January through June and up to $150 from July to December. These are good for StubHub and viagogo purchases through Dec. 31, 2027. Activation is required. The value: Not everyone goes to sporting, theater, and concert events, but a lot of people do. If nothing else, this could push people to go out and do something fun and out of the ordinary twice per year. We could see a lot of people getting the full $300 value from this benefit. The benefit: Get up to $10 in monthly in-app Lyft credits through Sept. 30, 2027. Also, earn 5x bonus points on Lyft rides through Sept. 30, 2027. The value: Not everyone uses ridesharing services and, more specifically, not everyone uses Lyft. Especially every month. This benefit likely won't provide as much value for a lot of cardmembers. The benefit: Get up to $10 in statement credits per month on eligible Peloton memberships through Dec. 31, 2027. Activation is required. Also, earn 10x points (on up to $5,000) on eligible Peloton equipment and accessory purchases over $150 through Dec. 31, 2027. The value: This is a very specific benefit for Peloton users or people interested in a Peloton fitness membership. You don't actually need Peloton equipment to use some of the Peloton digital memberships, but it's still a specific benefit that not everyone will use. The benefits: You can unlock more benefits if you spend $75,000 in a calendar year. You'll earn the listed benefits for the remainder of the year in which they were earned and through the following calendar year: IHG One Rewards Diamond Elite status: This is the highest IHG elite status tier, offering 100% bonus points on eligible purchases, dedicated Diamond support, and free breakfast at participating hotels. $250 credit for The Shops at Chase: Receive up to $250 credit for The Shops at Chase, a new online shopping experience where you can purchase items from top brands like Ray-Ban, TUMI, and more. $500 Southwest Airlines Chase Travel credit: Receive up to $500 credit for Southwest Airlines purchases made through Chase Travel. Southwest Airlines A-List status: Southwest A-List members receive priority boarding, one free checked bag, same-day standby, and more. The value: Unfortunately, these benefits will be largely unattainable for many prospective cardholders. Spending $75,000 in a calendar year just isn't feasible for the average consumer. Yes, it's more than possible to offset the $795 fee with the many Chase Sapphire Reserve benefits, but whether that actually happens depends on each situation and what benefits you get value from. For example, let's say you use these Sapphire Reserve benefits the most: Airport lounge access Rewards rate Transfer partners, including Air Canada Aeroplan, Southwest Airlines Rapid Rewards, and World of Hyatt No foreign transaction fees Purchase and travel protections Combining Chase Ultimate Rewards points between Chase credit cards Up to $300 annual travel credit Up to $300 annual dining credit at Sapphire Reserve Exclusive Tables restaurants Up to $300 annual StubHub credit That's $900 in value with the credits alone, without accounting for any of the other benefits. So, really, any other benefit is just added value since you've already more than offset the annual fee. However, that's just one example, and it won't apply in every situation. Still, it showcases how some people can easily get more than their money's worth out of the new Sapphire Reserve benefits after accounting for the annual fee. Huge potential value with credits and benefits Complimentary airport lounge access for the cardholder and guests Excellent purchase and travel protections High annual fee Not everyone will get full value from the credits and benefits Frequent travelers: Many of the Sapphire Reserve's primary benefits become more useful the more you travel. This includes complimentary airport lounge access and credit card travel insurance, as well as annual credits. People who can utilize the credits: You can get enough value from all the non-credit benefits to offset the annual fee, but it's a lot easier to justify the cost if you actually use some or all the credits. New cardholders: Eligible new cardholders can earn a generous welcome bonus, which only increases the card's value. The Sapphire Reserve is a high-annual-fee premium travel credit card with loads of benefits. It's likely not worth it for you if you prefer a straightforward card with a low annual fee and fewer perks to worry about. Related: Chase ends 48-month bonus rule for Sapphire cards — are you still eligible for a Chase Sapphire sign-up bonus? The Sapphire Reserve has plenty of new benefits, but it's not going to be the right fit for everyone. If it doesn't make sense for you, check out these alternative travel credit card options. Why this is a good alternative: The Sapphire Preferred has a $95 annual fee, making it $700 cheaper than the Sapphire Reserve. It's also a more straightforward option because it doesn't have loads of different credits and benefits to worry about. This is an excellent low-cost option for any traveler who wants high-quality travel rewards, travel coverage, and purchase this is a good alternative: The Amex Platinum is the traditional competitor of the Sapphire Reserve, especially now that their annual fees have both risen above $700. In many ways, they're very similar cards, including how their benefits heavily rely on different types of annual credits that you have to use or lose. If the Sapphire Reserve benefits don't align with your travel and lifestyle preferences, consider the Amex Platinum and its many this is a good alternative: The Capital One Venture X makes sense if you still want premium benefits with a lower price tag. For a significantly lower $395 annual fee, you still get complimentary airport lounge access, though you don't get free guests starting Feb. 1, typically need an excellent credit score to qualify for the Chase Sapphire Reserve, making it harder to get than most rewards credit cards. However, credit card issuers often utilize multiple metrics to determine your eligibility, including your annual income, debt, and credit history. With a minimum redemption value of 1 cent per point, you would need to earn 79,500 points per year to offset the $795 annual fee. Here's how much you would need to spend in each category alone to offset the membership cost: 8x points on all purchases through Chase Travel: $9,937.50 4x points on flights and hotels booked direct: $19,875 3x points on dining worldwide: $26,500 1x points on all other purchases: $79,500 Note that if you redeem your points for more than 1x redemption value, you wouldn't need to earn as many points in a year to offset the annual fee. For example, you would only need to earn 39,750 points if you typically get 2x redemption value from your points. That's much more reasonable, especially if you spread the spending out between multiple categories. The refreshed Chase Sapphire Reserve is worth it if you're able to get enough value from its credits and benefits to more than offset the $795 annual fee. It will be difficult for most people to get the full value from all the new credits because they simply won't align with their travel preferences and spending habits, making them more complicated to use. However, frequent travelers can get plenty of value from the various travel credits and perks, including complimentary airport lounge access. This is the new rewards rate for the Chase Sapphire Reserve: 8x points on all purchases through Chase Travel 4x points on flights and hotels booked directly 3x points on dining worldwide 1x points on all other purchases The old Sapphire Reserve rewards rate was: 10x points on hotels and car rentals purchased through Chase Travel 5x points on airfare purchased through Chase Travel 3x points on other travel and dining 1x points on all other purchases A few of the primary benefits the Chase Sapphire Reserve credit card has over the Chase Sapphire Preferred include: Complimentary airport lounge access for the cardholder and two guests The potential for over $2,700 in annual value from travel and lifestyle benefits Higher rewards rate in select bonus categories Higher potential redemption value through Chase Travel Enhanced travel and protection benefits That being said, the Sapphire Preferred only has a $95 annual fee, making it a much more affordable option. Related: Get the most from your cards: How credit card protections work Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
Forbes
24-06-2025
- Business
- Forbes
This Amex Platinum Offer Could Score You As High As 175,000 Bonus Points
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. There's a massive The Platinum Card® from American Express (Terms apply, see rates & fees) welcome bonus floating around, but it's playing hard to get. If you've been eyeing the Amex Platinum, you might want to check your personal offers ASAP. The Platinum Card may flash a bonus of 175,000 points, but whether you get it depends on what's behind the velvet rope. Unlike the standard 80,000-point public offer, this one is all about personalization. You'll see the biggest number up front, but your actual welcome bonus might be lower depending on your credit profile, card history and other mystery metrics. That means some applicants will receive a personalized offer as high as 175,000 Membership Rewards® Points after spending $8,000 on eligible purchases on the card in the first 6 months of card membership (approval required, welcome offers vary and you may not be eligible for an offer). Others might see a lesser offer or may not qualify for anything. Here's how to find out where you land. There are a couple of ways to see if you qualify for the new Amex Platinum offer. The easiest way is to use a special link that includes the 'as high as' language, which has been emailed to Amex customers, on the Amex website, or from the application link on this page. Once you click through, you'll land on the Amex Platinum offer landing page, where you can click 'Apply Now' to fill out a short form with information like your Social Security number and income. Once you submit your information Amex will run a soft credit check to show you the specific welcome bonus you're eligible for, if any. This won't affect your credit score, and you're under no obligation to continue if you don't like what you see. If you're eligible, you'll immediately see your personalized welcome bonus. At that point, you can either accept your offer (which may impact your credit score) or hit 'Withdraw Application' and exit without any impact on your credit. If you accept the offer you will have to meet a spending requirement in the allotted time to receive the bonus. Let's not sugarcoat it, the $695 annual fee on the Amex Platinum card isn't cheap. But if you travel even a few times a year, the perks can be worthwhile. Lounge Life Goals Centurion Lounge? Priority Pass? Delta Sky Club (when you fly Delta)? Yes, yes, and yes. Cardholders can also expect free food, drinks, Wi-Fi and a quieter place to wait than the standard gate area. Stacked Statement Credits Earn back up to $200 in airline fees, up to $200 in Uber Cash, and up to $240 toward streaming services each year (terms apply, see rates & fees for details). That's nearly $650 in value, almost covering the annual fee right there. VIP Hotel Treatment Cardholders get elite status with Hilton and Marriott, plus luxe perks through Fine Hotels & Resorts like upgrades, free breakfast and late checkout. 5x Points on Flights and Amex Travel Flights and prepaid hotels booked through Amex Travel earn 5x points. Add that to a huge welcome bonus, and you're basically bathing in Membership Rewards. Other Extras Earn CLEAR credits, Walmart+ perks, purchase protection ¹ , return protection ¹ and concierge access for last-minute table reservations (you didn't plan ahead for). It's unclear how long the 'as high as' feature will be available or whether similar offers will roll out for other cards. If you do see the offer, it's worth checking your personalized bonus, since it won't affect your credit score unless you accept the offer which you're under no obligation to do. This card may be a good fit for frequent travelers who can take advantage of the lounge access, hotel perks and high-value travel credits. For those who fly several times a year, the benefits can outweigh the $695 annual fee. But if you don't travel often or don't typically spend much on flights and hotels, it may be harder to justify the cost or fully use the perks. Ultimately, this is one of the highest public offers currently available on a premium card—but whether it's worth it depends on your travel habits and how much value you'll realistically get from the benefits. To view rates and fees for The Platinum Card® from American Express please visit this page. ¹Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit for more details. Underwritten by AMEX Assurance Company.
Business Insider
16-05-2025
- Business
- Business Insider
I spend $940 on credit-card fees a year. These 4 travel perks make the cost worth it — and help me score free flights.
I travel at least once a month, so I'm always looking for savvy ways to fly in style and upgrade my trips without breaking the bank. Although it sounds surprising, one way I do this is by spending almost a thousand dollars on credit card fees each year. As a frequent traveler, I like how the cards' perks help elevate my trips and believe they're a good value. I pay $940 annually for three travel rewards cards: American Express Platinum, United Explorer, and Chase Sapphire Preferred. Here are four of my favorite benefits that easily justify the cost of every premium credit card in my wallet. Unlimited airport lounge access is my favorite perk There's nothing I value more than airport-lounge access on long travel days. I've visited dozens of lounges last year alone, whether flying through Dallas, Rome, or Seoul. My American Express Platinum card gets me access to over 1,400 airport lounges around the world. At a bare minimum, most of these lounges provide complimentary food and drinks, showers, and comfortable seating. Some offer more unique features, including massage chairs and outdoor terraces. The VIP Lounge in Punta Cana even has a pool. Although the card's $695 annual fee isn't cheap, I find lounge access is basically priceless as a frequent traveler. It's far better than waiting in a crowded, noisy terminal, and I never have to buy expensive food in the airport. Convenient access to a shower is also invaluable after a long flight. I also love the Amex Platinum's $200 hotel credit Another American Express Platinum card perk I use each year is my $200 hotel credit, which can be used on bookings through the American Express Travel Fine Hotels + Resorts program. I love any excuse for a discounted getaway, so this is one of my favorite features of the card. When booking through the Amex travel portal, cardholders may receive early check-in, late checkout, complimentary breakfast for two, and a $100 experience credit, among other perks. One year, a friend and I booked a luxury stay in Sydney using my card. We saved $200 on the room and used our $100 experience credit for drinks at the hotel's bar, which had stunning views of the nearby harbor. My United Airlines card includes free checked bags The most recent addition to my wallet is the United Explorer card. At $150 a year, the card's benefits quickly surpass the annual fee. To start, cardholders receive two complimentary visits to the United Club each year along with priority boarding on United flights. The most notable benefit, however, is a free checked bag on every United flight. When using the card to book a flight, cardholders receive a free checked bag for both themselves and a companion. The savings almost pay for themselves. If I and a guest checked a bag each way on a round-trip United flight, we'd pay $160 — more than this credit card's annual fee! I fly United several times a year, so adding the card to my wallet was a no-brainer. I've booked flights using only points with my Chase Sapphire Preferred card My most utilized travel card is the Chase Sapphire Preferred. For me, the $95 annual fee is well worth the point-earning opportunities. Cardholders earn 5 points per dollar on travel booked through Chase, 3 points per dollar on dining, select streaming, and online grocery purchases, and 2 points per dollar on all other travel purchases. By using this card for everyday transactions, I quickly rack up thousands of Chase Ultimate Rewards points on a regular basis. In the past year, I've used points to cover the entire cost of flights to countries like Japan and Italy. I've also redeemed points for a handful of domestic flights within the US. It's hard to beat traveling for free, and my Chase Sapphire Preferred makes that a whole lot easier. Rates, fees, and offers in this post are accurate at the time of publishing on May 16, 2025.
