Nowadays everyone has a credit card, but what if you want some a bit more classy with extra benefits? Then a premium charge card is right up your alley. The two most popular ones on the market are the American Express Gold Card and the Platinum Card. Let’s compare and contrast their features and benefits:

What they both have in common… Since both of them are charge cards, their balance must be paid in full each month (unlike a credit card, which allows you to pay over time). They both have no preset spending limit, which gives you extra flexibility for making big purchases. Other benefits they have in common are roadside assistance, return protection, car rental insurance, and free extended warranty. Where they differ… Annual Fee: Upon reviewing the American Express Gold Card application, the first thing you’ll notice is the annual fee is $125, which is not cheap but it’s significantly less than the $450 fee for the American Express Platinum Card. Purchase Protection: Both cards cover eligible purchases for accidental damage and theft for 90 days from their date of purchase. However the Platinum Card also covers items if they’re lost during that time. Premium Car Rental Programs: With the Platinum Card, you get free premium car rental memberships at Hertz, Avis, and National (these would normally cost you extra). Companion Airfare: The Platinum Card gives free companion airfare with certain international airlines. However you must purchase a full-fare business class ticket yourself, which unfortunately costs significantly more than coach. Furthermore, this option is not available on domestic flights. Airport Lounge Access: American Express gives free business lounge access to Platinum card members. Personal Concierge Service: The Platinum Card offers a phone concierge service free of charge. However now that we can simply search for things on our phones using Google, it makes their concierge service a waste of time for many things. Hotel Upgrades: With the Platinum Card you get upgrades and perks at certain high-end hotels. Which card wins? If you are a frequent international traveler, the American Express Platinum Card definitely makes sense. However if you don’t travel a lot, it’s probably not worth paying the annual fee. You would be better off filling out an American Express Gold Card application instead.

No related posts.