Amex Platinum Card vs Amex Gold Card (Full Comparison 2021)
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- เผยแพร่เมื่อ 18 ก.ย. 2024
- In this video, we compare the Amex Platinum Card vs the Amex Gold Card as we take a look at 2 of the best American Express credit cards available today. The Amex Platinum card and the Amex Gold card are both premium credit cards with steep annual fees, so here we want to go over the Amex Platinum benefits, the Amex Gold benefits, and what you need to consider before applying for either card in 2021. This video also serves as a brief Amex Platinum review and Amex Gold review as we talk about what each card offers and which one is right for most people out there.
Both of these American Express credit cards are actually charge cards, and they also both earn Membership Rewards Points in a few ways. Overall, the American Express Gold card is a good everyday spending type of card because of its focus on food-related categories with its credits and the ways that it earns MR points; while the American Express Platinum card is a good travel card because of its focus on travel-related points categories and benefits.
I think that both the Amex Platinum and Amex Gold can be good cards to have for the right person. I personally like having both credit cards because I can get enough value from the annual credits to effectively offset the combined $945 in annual fees. But for most people, if you travel a lot - then go with the Platinum card, and if you eat a lot - then go with the Gold card.
Just make sure that you do your own research to decide if either the Amex Platinum or the Amex Gold are worth it for you!
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I have the Gold and I absolutely love it. This card is meant for ME! The plat is cool but I just don’t travel or fly enough to justify it.
Good to hear William! I feel the same way haha, but yeah definitely can be tough to justify the Platinum
I have both and they are great cards. The credits can be somewhat of a struggle to use on the Platinum, but luckily I am able to use $740 easily in credits and I do travel enough to make the card very useful to me. My Gold card is my favorite and If I could only keep one card out of all the cards I have it would definitely be my Amex Gold... Thanks Daniel 🙌🏽
Good to hear from someone else that is able to get good value like that from the Platinum card! Definitely agree with you though that I would keep the Gold card as my one card too. Thanks so much for the comment and support as always here!
Now this is my kind of vid! I have both cards, and I definitely see the value in having the Gold. 4x on restaurants and groceries is no joke, and transferring them to Delta at a 1:1 ratio is a sweet deal--better than any multiplier on Delta's own credit cards! The Platinum card is sort of a mix for me. A lot of credits, yes, but as a Delta Diamond I already get Clear for free, and with the Hilton Aspire I get diamond status. Still, it can be a very valuable card for anyone who can maximize the credits! Great vid as always, Daniel!
Yeah Delta transfers are a great thing with Amex! Agreed about the Platinum that its a mix, definitely good for those that use the credits like you said though! 2 great cards to have in my opinion and cool to hear that you have both as well. Thanks for all of the support Paul!
Both amazing cards for sure! Gosh though, if I only had to choose one, it would definitely be the Amex Gold Card. Much easier to deal with the annual fee, and in my opinion the best point earning card out there. Although together, they are an amazing combo! Great work Daniel!
Thanks Jacob! Yeah totally agree with you there, Amex Gold is the way to go but also a great combo for certain people!
Thanks Jacob I just up graded to the platinum card even though I love my gold card like you I wanna put both together to work for me
Daniel would you do both card s platinum an the gold card ???
I have them both and it’s so nice the versatility they offer by having them both. But if i had to pick I’d take the Gold as well
Nice! Yeah I feel like most people would feel the same way about picking the Gold like you and I both say
Good information. I have had a Platinum for about 7 years now and debating dropping to Gold because of the fee different (and I don't travel as much anymore).
I really like the audible credit on the platinum but I think it could be temporary, I could be wrong. And like you said the fhr credit isn't as great since all those hotels can be pretty pricey. I agree the gold card is better for most people.
Yeah audible is something I already liked using so I was glad to see that as a credit, hopefully its not temporary. Hotel credit is just ok because of that like you said. But yeah overall, gold card is definitely the better deal for most people. Thanks for watching and commenting!
I loved my Gold but I utilized a targeted upgrade offer to go Plat which I love as well. The Gold made sense when I had it during the beginning of COVID, not traveling and eating a lot of take out and plenty of grocery shopping but right now, I go out to eat a lot less and I save more money food shopping at Walmart than the 4 points/$ at traditional grocery stores is worth. I can utilize most credits other than the Hotel & Equinox credit and I crush the airport lounge game, HARD! Lol
Good point about getting more savings at Walmart! Definitely can be something to consider as well with the Gold card. Sounds great! Glad to hear you are crushing the airport lounge game because that's a huge reason to have the Amex Platinum! Thanks so much for watching and commenting Chris!
They make sense both. I prefer the gold here in Germany those days of less travelling
Amex change that crappy $300 Equinox credit that probably 95% of us cant even use for $300 credit or even just $200 for gas and then we will be talking!
Totally agree! Such a bad credit haha. A gas credit would be amazing!
I’d even settle for something way less useful than gas like $15 monthly AMC credit lol
Or groceries
I agree completely especially now with gas prices Skyrocketing !!!
I have the amex platinum card. My goal is to get the black card by the end of 2022 for the phenomenal benefits.
I think I made a mistake. I was approved for the Platinum Card but I’m a foodie and would rather have the Gold Card. 😩 As for my travel plans, I only travel once a year for my birthday.
Daniel, I just found out that Amex actually increases the rates for the Fine Hotels & Resorts for Platinum members in return for the $100 credit and other benefits. In one case I realized my stay was going to be $490 greater as a Platinum member than it would be booking as a regular Gold member for example. The math completely does not add-up and they advertise these benefits as being complimentary to Platinum members. This basically cancels out the value of this benefit...I wonder how many people don't realize they are being ripped off.
AMEX Gold is a legacy card. It's good for every wallet given how versatile it is, although it is the old "coupon" credit card. The Platinum is really a case by case base.
Totally agree with you here! Amex Gold is good for everyone but Platinum is going to require a deeper look for most people
I think this was the first time I've heard you say this isn't financial advice 😅 how much you pay for all your annual fees for your cards? Maybe a video on that and if you're getting your money worth out of all of them?
Haha I thought I'd casually mention it here but always have that in my description too! In total, all of my annual fees add up to $1,040 right now. I may add another annual fee or 2 next year depending on what offers are out there and what I'm looking for. Definitely would be a good video to go through all of that though to show how its worth it for me!
Hello Daniel, your video is great with full explanation! I currently have Apple Card since 2 years and I am only 22. I would love to upgrade to Amex card. I'm still having hard time deciding with these 2 credit card. I would love to have Platinum but the only thing is that I dislike high annual fees. I do travel a lot and went out restaurants daily! Do you think Amex gold would be good for traveling and I know its only 3 points but it can be a lot better than Apple Credit Card correct? Also is it possible to use Amex for my Tesla payments? Let me know. Also, keep up with good work with TH-cam videos about financing! Great work Daniel
Hey thanks so much for the comment and for watching my videos! So I think that the Platinum is a very hard card to justify having for a lot of people unless you either travel a lot or really can make use of those credits to offset the annual fee. I sort of fall into both of these categories.
The Amex Gold card is great for food purchases at grocery stores and restaurants and the 3x points per $ on flights is decent as well. But its only worth it if you plan to eventually redeem those points for travel in the future to get the most value from them. I'll have a video on Amex points redemptions out later this week.
I'm not sure about Tesla payments - usually its not worth it because to pay for payments like that - there's some sort of 2-3% credit card fee on top of that so probably not best.
But I hope that helps, thanks again for watching!
I have both and its a great combo to have. Plus the cards share points...
I have both and I love the both of them but the average person will love love the gold for every day use.
Good to hear Henry! I totally agree with you, the average person will love the Gold card since it has so much that it can do with everyday use around food. Appreciate you watching and commenting! 👍
I really like both cards, if I were to pick one I would definitely go with the AMEX gold card it is one of my favorites indeed.
Same with me! Easy to use that card everyday so that'll be one that's in my wallet for a long time!
Just got my platinum with 125k welcome points!
Can’t wait to use all the benefits I get!
Awesome, that's a great offer! Enjoy the card 👍
Thank you Daniel. This helps me understand how you guys look at it better. Thank you!!
I have the Amex Gold and I love it… I thought of getting the platinum, but I dislike the $695 fee it use to be only $500.
I know that this vlog might not be applicable to me since I am in the Philippines but I just want to appreciate Daniel's knowledge in Credit Cards and Finances. I am really learning a lot plus the fact that he is HOT. 😍 Done subscribing by the way and looking forward to more of your Credit Cards 101. 😘
Haha thank you so much for subscribing! I really appreciate all of the support!
@@Daniel_Braun your reply really makes me blush... 🥰. stay safe hotstuff! 💘
I have both! Worth it!
Great comparison video!
Thanks Nic! Appreciate the support as always man 👍
i really liked this full comparison
Thank you so much! Appreciate it!
i just got my amex gold card in the mail i’m super excited to use it!
Nice, enjoy the card! One of my favorites
both cards are good tho but gotta take Amex Gold Card. Great work Daniel!
Agreed, Amex Gold is the way to go for most people! Thanks so much!
You would want to open the Platinum or Gold before canceling the other since when you cancel, you will lose any MR Points if you have not redeemed or transferred them their partners.
Very important points! Always make sure to either use your points or have another MR point earning card open in your Amex account before closing a card so that you don't lose the points! I've heard of some people making that mistake before and its very unfortunate. Thanks so much for a great comment!
Great Video. Good Job!
Thank you so much, I'm glad to hear you liked it! I appreciate the comment 👍
Amex is the best. I have the platinum, gold, bbp, delta reserve, hilton aspire and the lowes business card. Once i get under 5/24 I’ll probably get the marriott card or what ever else comes out by then.
Nice, great cards! Good idea to go back to Chase cards once you're back under 5/24. That's what I'm doing right now!
What people don't understand these cards aren't for your average Joe. Alot of people may qualify for it due to good credit, but if you don't use it for making large purchases constantly, or overall high usage you really not gonna get your moneys worth, that's why alot of people complain about the annual fee. You gotta spend to reap the rewards, cause they got the best in the market.
Do you need to do anything to get the Sacks credit? Or just buy there and they reimburse automatically? Also, do you need to do anything to get the welcome bonus? Or is that automatic? Thanks for the vid!
Good questions! For the Saks credit you just have to click "enroll" on you American Express account page under the benefits tab. Then you will just automatically be reimbursed for purchases there for up to $50 for the 2 6 months period that the credit can be used for. For the welcome bonus, that is just automatic after you reach the minimum spend requirement on the card within the specific time period that is required. Then the bonus points will just be deposited into your account
I always love your video
Thank you so much!
Never understood paying high AF. I just can't justify it. I get the sub are generous but after that it's just 🔥💵
Yeah I get that, it definitely not something that is for everyone. The sign up bonuses definitely help but really takes a lot of value from the credits to truly be worth it. I'll be making a video on best no annual fee cards very soon because there's some great options out there!
Hi Daniel, can you go over how you're balancing the two Tri-fectas of Chase and AMEX?
Great idea! I added it to my list of videos and I think I'll make that soon
Hey Daniel. I have the Schwab Platinum and the Gold, which will be my grocery workhorse card again once I finish getting 5% back on groceries with my Chase Freedom Unlimited intro offer. Hope all is well.
Hey Anthony! Yeah I love that setup and will definitely be what I'm looking to get soon as well with the Schwab Platinum. Even with that decrease from 1.25 CPP to 1.1 CPP in redemption to the Schwab brokerage account, still very much worth it to have in an Amex setup. Gotta love that 5% grocery bonus you still have on the Freedom Unlimited too! Thanks as always for stopping by 👍
@@Daniel_Braun Always nice to connect. Happy Friday!
Hey Daniel I just upgraded to the platinum card from the gold card in your option was that a good move Question how do,I have wait before getting back with the gold card I wanted to keep both card
I wish Amex would have Split the all credits like the Saks fifth Avenue credit. I think more people would’ve like it that way.
100% agree! Such a great point. But of course that would have just been too easy lol. Thanks for watching and commenting!
right before this video started, there was an ad for the Amex Gold card lol
Great comparison. Was wondering if these cards are also available in Canada?
Thanks! Typically most US cards aren't available outside of the country but both of these are available in Canada. Only problem is that the benefits and features are completely different that what I talked about in this video
@@Daniel_Braun Alright 👍
You should have also mentioned those uber credits are only usable in the USA. They won't count for uber rides taken abroad.
I personally think the Gold also looks better
Great Video
Great video thanks right now I use the united airlines explorer card the best buy card the city rewards plus card and the m life las vegas card from the bank of Omaha I am not sure what amrican express credit card to get yet.
Thanks Jonathan and thanks for sharing what cards you use! Personally, I recommend the American Express Gold card for most people if you are looking to get either that one or the Platinum. But the gold card is really only worth it if you can get good use out of the Uber and dining credits that I talked about in the video. Amex cards aren't always great for everyone, but if you plan to use the points they earn for travel then it can be a great option!
I just liked and subscribed.
I have a question to ask you or anyone that has knowledge on the subject.
In April I got the American Express Platinum. I like the card and it's a game for me to keep track of all the various deals.
I found out about the American Express Morgan Stanley card and I just received that recently for my wife and I. I got it because I did not want to pay the annual fee at least not the total amount.
My question is this I got the Morgan Stanley card so I could cancel the regular American Express Platinum Card when it's time to renew. What are the ramifications if they are any that I might face. I know I should have asked this question before I found myself with two Platinum cards. Any advice would be greatly appreciated
Thanks so much for liking and subscribing Dave, it really means a lot! And I'd be happy to give my opinion here because I fully expect to cancel my regular platinum card at some point in the future to get the Schwab version instead. A closed account will still stay on credit reports for around 7-10 years so closing a card will not immediately impact things like age of credit on your report. Eventually it will drop off but the impact should be very minimal since it's that far in the future. A couple of things though that I'm considering before I do decide to close my regular platinum card in the future. I'll want to make sure that I have all of my Amex MR points safe by having another MR points earning card. In your case, you should be ok if you have a Morgan Stanley card and the regular platinum card. But just make sure that they're in the same account. As long as you have at least 1 MR point earning card open and active in your American Express account, then you should be good and not lose the MR points by closing one of the cards. Also, what I plan to do is call and ask Amex for a retention offer before closing the card because if they can offer me a certain amount of points for keeping the card open another year, then it may be worth it. But totally up to you if you want to do that or not. Hopefully all of that helps but there's some other really great videos out there about this too. I plan to make a video about this soon when my annual fee becomes due for my Amex Platinum this February
@@Daniel_Braun thank you for your opinion on the matter you clarified a lot looking forward to your video coming out in February. Being that my annual renewal rate on my vanilla card is due in April
@@davemartinez4143 Awesome, I’m happy to help!
Gold
I love the Amex Gold! Thanks so much for watching and commenting Sandor!
Hey guys, looking for some input. I am active duty military and currently stationed overseas. I will be traveling back to the US and surrounding countries in the Pacific. What would you recommend? Any current military taking advantage of these cards or others?
What if you have a prequalified offer for 150,000 point? Should that be enough for someone to consider getting this card?
That's definitely a record high offer! If the card makes sense for you then you can go for it! The platinum card is pricey but the benefits are worth it if you travel a lot
I got the gold card. Dont do much traveling right now (will plan on doing it soon tho)
First card and only knew about it because I get the annual fee waived as a service member. Really cool card overall it seems so I'll see if I even have time to use the benefits ahaha.
How do you request to get the fee waived as a service member?
Also, please point out that even travel rewards aren't worth 1:1 for hotels. Unless you're booking hotels through their FHR program (Fine Hotels and Resorts). The points hotels is about 0.6 points, MUCH less than Chase Sapphire Reserve's portal, which values hotels at 1.5 ....
Yeah a very good point Eddie, its never really going to be worth it to book hotels through the Amex travel portal with Amex points because of such a low redemption value. It's a much better option to transfer those points to one of the American Express travel partners which will be where you can get much closer to or above that 1.5 CPP value like you said on the Chase Sapphire Reserve. Thanks for a good comment and appreciate you watching the video! 👍 I definitely going to be comparing the Amex Platinum to the Chase Sapphire Reserve in the very near future
Thanks for this breakdown. I quite often transport VIP cats and kittens (and pups and dogs) on airlines and I appreciate being able to maximize the value of my spend which goes toward my feline/pup masters and superiors ongoing luxury-centered lifestyles.
I’m pre approved for both card and it’ll be my first serious card besides a secured card and I don’t know which one to choose
Would it be better to apply for the Gold card and get the welcome bonus. Then apply for the platinum and get that welcome bonus and after the year downgrade to the green and just mis out on that welcome bonus bc it’ll be much less than the platinum
Definitely something you could look at doing! But the green card still does have an annual fee of $150 and isn't as good as the gold and platinum. There is a 50,000 point offer on the green card too right now so you'd be passing up on that too. I personally was fine getting the Platinum card knowing that eventually I'll close it and get the Schwab Platinum card instead
Is it wise to hold both amex gold and the amex platinum at the same time?
I just received an pre-approved offer 150,0000 points
That's awesome! Such an amazing offer right there!
Chat do these deals run out at the end of the year? Or would most of the benefits still be the same?
Good questions! I don't know how long the welcome bonuses will be available but they could change in the new year at some point because they have been very high for a while now. The benefits will remain the same though for both of these cards!
I received an offer of 90,000 points for American Express Gold card in the mail today
so could you have both in the same time? im mil so i get the fee waived and wondering if i could utilize both
AU on my Gold card , do they get 4x points on groceries and restaurants as well ?
I believe all points earned on an authorized user card under a gold card will earn points, but they will be pooled under the primary card account
How does having an Amex charge card positively impact your credit report when no approved spending limit is reported. For instance, approved for 10k but only spent 3k. They don’t report utilization, from my understanding?
Compare the Delta American Express platinum card to the Gold American Express card.
can you tell me a good transfer partner? delta chrages taxes to transer. klm ba ethiad fuel surcharges are ridicules. hilton and marriot yuo lose money when you transfer.
You should never recommend cancelling a credit card, it will hurt your credit BIG TIME.
That's not always true, it will vary from person to person how much / if it hurts your credit score by closing a credit card. If you are paying an annual fee that is too high and no longer providing enough value, then it might be worth it to close the card. Even if it is closed, it will still stay on your credit report for 7-10 years and even help you score as long as you didn't miss any payments. I never recommend closing a credit card account that has been open for many years, as that may hurt the age of your credit. But as long as those older cards have no annual fee, then it shouldn't be any issue at all to keep them open. So closing a card that has only been open for a short period of a year or 2 will not have much of a negative impact, especially if you have many other cards and other credit accounts open and on your report. Again, this all varies from person to person, but in my case, closing a card like the amex platinum won't really hurt my score at all! And since its a charge card, that does not affect my credit utilization either which is another thing to monitor when considering whether or not to close a credit card. So overall, it does not always hurt your credit to close an account, it just depends on a number of factors. But if you look into what your credit profile consists of, then you can decide if it is good or bad to close an account. That's a long reply haha but I just want this to be clarified for anyone that reads this!
If I have the Gold one, but from my country (Peru) can I still use the benefits when I travel to the US?
Does anybody know if the uber cash stacks with each card if connected to your uber account? So if had both cards you'd get 25 dollars per month in uber cash?
Hey Austin, Greta question! Yeah it does. I have both the platinum and gold linked to my Uber account so each month I get $25 combined deposited into my account in Uber Cash
Please review the Sable Credit Card
I'll look into that one and see if I can talk about it!
have the platinum and now the gold
It is a little misleading to count the Uber credits for either of these Amex cards. Uber credits are not same as dining credits and unless you are a frequent Uber user, they should not be factored in. The way they work is you get credit for a future Uber order once you have your first Uber order. So, the earned credits can only be used for a future order and so on and so forth. Of course this is to get business to Uber, and nothing wrong with it. However, the fine print is critical in understanding before anyone thinks that the credits can lower the AF.
The Uber credit works essentially the same way as the dining credits, you either use them or you don't, so they should be factored in. Not sure what you mean by future order because that's how credits work, you get money back that you already spent. For Uber that's in the form of Uber cash that you're given at the beginning of the month that you can then use. For the dining credit, you will be reimbursed within your Amex account after an eligible purchase. Either way they both have the same effect. I do agree that people should only get this card for the credits if they use for pay for these things already because that's where the value comes in.
I don’t understand why anyone would choose the Amex platinum over the Sapphire Reserve if the sapphire reserve offers 10X points for hotel stays. Seems like a big difference of 5X extra points when taking the reserve over the platinum. Also, I hear that the chase portal has better deals in general than the Amex one.
Good points, I've always enjoyed the Chase portal and found good prices, so 10x there on hotels with the Reserve is a decent deal. The thing is that the Amex Platinum offers some more benefits and credits which some people like. I'm personally able to get more value out of the Platinum than the Reserve because even though the Reserve can earn more points, there aren't as many credits to offset my annual fee like the Platinum card can. But both great cards are good depending on what each person is looking for! Thanks so much for watching and commenting Rob!
@@Daniel_Braun thanks for the clear and concise feedback!
@@Daniel_Braun and the centurion lounge and having access to delta sky club seals the deal
Why the perks and fees is different in NZ..🙄technically not much benefits… can you please explain
Can you get both?
i just downgraded to the Gold. Can't justify that $695 annual fee. Just nuts.
Platinum is offering 150,000 bonus points right not if you pre qualify
That's such an amazing offer for anyone that receives it! Amex is really trying to win new customers!
Is actually 125,000.
What other card comes after the platinum card ?
Daniel so to be clear, the Gold does not give lounge access?
Correct, no lounge access for the Gold card
@@Daniel_Braun thank you Daniel. I currently have a Venture card and currently deciding between upgrading to the venture x or finally getting an Amex. I’m really seeking lounge access and with the venture x I’m trapped using the capital one travel portal
I spend 1k a month, I don’t travel or dine out! Is it feasible to get Gold Card?
It depends on your grocery spending, how you plan to redeem Amex points, and whether or not you use this Uber and dining credits. I actually have a video coming out later this week that will discuss in more detail as a 2 year review from my experience with the Gold card
What if I’m military and don’t pay the annual fee. Which one should I get?
I know military people that have both but I'd say to start with the Amex Gold if you're interested because that's just an easier card to manage and its easier to justify the annual fee even if you had to pay it in the future
I just got a special offer for 90k msrp for $4000 spent in the first 6 months.
Just got the Amex Gold Credit Card, after a year I will upgrade to Gold.
Do any of this cards offer 🤔 car rental insurance
They come with secondary car rental coverage but you can purchase premium coverage from American Express which is what some people like to do
Do points expire on the gold?
No they don't expire as long as you have a Membership Rewards Points earning card that's active and open!
1
First place again, thanks as always for the early comment and view Paul!
😎
Thanks for watching!
Amex plat now needs 75,000$ spend to get free centurion access 👎👎👎👎👎
like a commercial. just be real
Sorry, one of my older videos, I've tried getting better with not just being like a boring commercial for credit cards now haha
👍🏽👍🏽
Thanks for watching!
@@Daniel_Braun You're welcome 👍🏽
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