Does it make sense to hold an Amex Platinum and Amex Gold card?
https://thepointsguy.com/credit-cards/amex-platinum-and-amex-gold-card/
Beyond the welcome bonus, you’ll earn points on purchases made with your card. However, the number of points you earn with the Platinum and Gold cards varies greatly. Compare the following:
| Earning rates | Amex Platinum card | Amex Gold card |
|---|---|---|
| Flights | 5 points per dollar on flights booked directly with airlines or with Amex Travel (up to $500,000 of these purchases annually, then 1 point per dollar) | 3 points per dollar on flights booked directly with airlines or amextravel.com |
| Hotels | 5 points per dollar if booked and prepaid with Amex Travel; 1 point per dollar otherwise | 2 points per dollar if booked and prepaid with amextravel.com; 1 point per dollar otherwise |
| Restaurants | 1 point per dollar | 4 points per dollar (on up to $50,000 in purchases per calendar year, the 1 point per dollar) |
| Supermarkets | 1 point per dollar | 4 points per dollar at U.S. supermarkets (on up to $25,000 on purchases per calendar year, the 1 point per dollar) |
| Other purchases | 1 point per dollar | 1 point per dollar |
You could earn thousands of extra points each year by using the right card for each purchase. A general guide is to use the Platinum and Gold cards as follows:
Platinum card: For flights booked directly with airlines, plus flights and hotels booked with Amex Travel.
TPG’s managing editor for credit cards Matt Moffitt says, “Whilst this card has a high annual fee, it more than justifies itself for frequent travelers like me. The lounge access options that come with the Platinum are unrivaled by competitors. I put all of my flights — whether bought with cash or points — on this card to earn 5 points per dollar spent and trip protection insurance. I make sure to take full advantage of the Uber, Saks Fifth Avenue, Hulu/Disney+ and Clear Plus statement credits (enrollment required for select benefits). And, honestly, pulling a Platinum card out of your wallet to pay for something does feel pretty fancy.”
- Gold card: At restaurants and U.S. supermarkets.
TPG associate credit cards writer Chris Nelson is a foodie and loves the Gold card because of 4 points per dollar earning rates at restaurants (on the first $50,000 in purchases per calendar year; then 1 point per dollar) and the ability to transfer Membership Rewards points to a variety of airline and hotel partners.
Amex Gold vs. Amex Platinum: Which card should you bring on your next trip?
https://finance.yahoo.com/personal-finance/amex-gold-vs-amex-platinum-223303480.html
Best rewards: American Express Gold Card
The more you compare travel credit cards, you may find yourself in one of two camps: Either you prefer earning rewards on everyday spending to redeem for travel, or you prefer earning rewards on travel to put toward more travel.
The Amex Gold is better for the former, while the latter type of cardholder will prefer the Amex Platinum. But there are a few more details of these cards’ rewards structures that lead us to choose the Gold Card in this category.
The Platinum Card rewards your travel spending — making it ideal for cardholders who are constantly on the go:
- 5x points on flights booked directly with airlines or Amex Travel (up to $500,000 spent each year, then 1x)
- 5x points on prepaid hotels booked with Amex Travel
- 1x points on everything else
But even frequent travelers may be limited with these categories, since you’ll only earn the 5x bonus rewards when you book travel through Amex’s travel portal or reserve flights directly with airlines. Compared to other cards with much more comprehensive travel rewards, this could hinder your ability to score a great deal elsewhere while still earning bonus points.
The Amex Gold, on the other hand, offers some of the highest rewards rates at restaurants and supermarkets you’ll find among any rewards credit card today. It’s among the highest-earning cards for everyday spending:
- 4x points at restaurants in the U.S., including takeout and delivery (up to $50,000 spent per year, then 1x)
- 4x points at U.S. supermarkets (up to $25,000 spent per year, then 1x)
- 3x points on flights booked directly with airlines or through AmexTravel.com
- 2x points on prepaid hotels and other eligible purchases made through AmexTravel.com
- 1x points on everything else
Not only do we love the everyday rewards, but even the airfare category is only slightly lower than the Platinum Card (3x vs. 5x, with the same restrictions on where you can spend). Unless you’re spending thousands of dollars year after year on flights and hotels — say you fly for business, for example, and get reimbursed by your company — the Gold Card’s rewards will make much more sense for the majority of cardholders.
Best benefits: The Platinum Card from American Express
The Platinum Card’s added benefits are second to none among premium travel credit cards available today, making it the clear winner in this category. According to Amex, the Platinum Card’s value is worth more than $1,500. Here’s a breakdown comparing the overall benefits offered by each card:
Amex Gold*
- Up to $120 Uber Cash annually: $10 per month for eligible Uber Eats orders and Uber rides in the U.S.*
- Up to $120 annual dining credits: Up to a total $10 each month toward purchases at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys
- Up to $100 in annual statement credits ($50 semi-annually) on eligible purchases at U.S. restaurants on the Resy app or Resy.com
- Up to $84 per year ($7/month) in statement credits on Dunkin’® purchases nationwide
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit toward eligible charges with every booking of two nights or more through AmexTravel.com (eligible charges vary by property)
*You must have the latest version of the Uber App downloaded and your eligible American Express Gold Card must be a method of payment in your Uber account; Amex benefit may only be used in the United States
Amex Platinum*
- Up to $200 per year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings (minimum two night stay) through American Express Travel
- Up to $200 airline fee credit per year for purchases with your selected qualifying airline
- $155 Walmart+ credit: Receive a monthly statement credit to cover the full cost of membership
- $240 digital entertainment credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal (enrollment required)
- $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually (Uber Cash and Uber VIP status is available to Basic Card Member only)
- Up to $199 annual CLEAR Plus credit per calendar year on your membership (subject to auto-renewal)
- Up to $100 in annual credits for purchases at Saks Fifth Avenue or saks.com ($50 from January-June and $50 from July-December; enrollment required)
- Global Lounge Collection: Complimentary access to more than 1,400 airport lounges across the globe
- Global Dining Access by Resy: Access to exclusive dining reservations and experiences
- International Airline Program: Savings on international first, business, and premium economy class tickets with more than 20 airlines booked through American Express Travel
- Fee credit for Global Entry every 4 years or TSA PreCheck every 4.5 years
- Marriott Bonvoy Gold Elite status and Hilton Honors Gold status (enrollment required)
- Complimentary premium status among choice of car rental services (enrollment required)
- Concierge access
Benefits offered on both Amex Gold and Amex Platinum:
- No foreign transaction fees
- Car rental loss and damage insurance
- Baggage insurance plan
- Trip delay insurance (the Platinum Card also offers trip cancellation and interruption insurance)
Amex Gold vs. Amex Platinum: Which one should you get?
For most people, the American Express Gold Card is the better option for maximizing value on every dollar and saving on travel — whether you go on vacation once per year or you’re always planning your next trip.
However, the American Express Platinum Card is still one of the highest-value premium cards with a lot to offer frequent travelers. If you dedicate much of your annual budget toward hotels, airfare, airport lounges, and other related travel expenses you can find a ton of value in this card. But if you only travel once or twice per year, you likely won’t be able to maximize it — which could make the Platinum Card a less-than-ideal choice.
When to consider both cards
If you really want to rack up Amex Membership Rewards points and cash in on travel, you may consider adding both cards to your wallet. But again, the annual fees can be a major factor. Combined, you’ll pay a whopping $1,020 each year to own both the Amex Gold and Amex Platinum cards.
If you’re a very frequent traveler who spends most of your year on a trip or planning for the next, combining these cards’ rewards can help you increase your points earned while taking advantage of the range of added benefits.
But for most people, combining the Amex Gold and Platinum probably isn’t necessary. Choose the card that best fits your spending and budget, and you can maximize your spending without leaving any value on the table.