Do you ever wonder why credit card companies offer different versions of the same credit card? And what’s the difference between gold and platinum anyway… prestige and bragging rights? Not really. No one cares about the credit card in your wallet unless it is the American Express Centurion Card (unofficially known as the Amex Black Card). And then people only care because they are superficial or they think you’re silly for spending several grand in annual fees. But I digress… The short answer is there is more than just a color difference of green, gold, and platinum. These cards deliver a variety of different and valuable services and benefits.
Comparing Benefits of Premier Rewards Gold Card from American Express and Platinum Card® from American Express
Each of these cards offers cardholders a variety of valuable rewards, services, and other perks. There are many common features among these cards, and some of the benefits are exclusive to a particular card, such as the Gold Card events or the concierge service available only to The Platinum Card® from American Express cardholders.
Membership Rewards® program. These cards all come with free membership to the American Express Membership Rewards® program for no additional fee. So you can use your rewards card to make purchases, book travel, or redeem them for gift cards or other perks. Cardholders earn points based on purchases, with most purchases rewarding members with a minimum of one point per dollar spent on all purchases. Some purchases reward the cardholder with bonus points. Rewards can be redeemed for gift cards, items, travel, or can be transferred to airline or hotel miles. There is no limit to the amount of points that can be earned, and points never expire.
Here are just some of the perks you expect with the Premier Rewards Gold Card from American Express and The Platinum Card® from American Express.
|Card Feature||Premier Rewards Gold Card from American Express||Platinum Card from American Express|
|Auto Rental Insurance||Yes||Yes|
|Use points for airline/hotel miles||Yes||Yes|
|Identity Theft Assistance||Yes||Yes|
|Access to Gold Card Events||Yes||Yes|
|Complimentary Access to Airport Lounges||–||Available at Select Airports|
|Travel Accident Insurance||Yes||Yes|
Sign-Up Bonuses for these American Express Cards
These American Express Cards each come with a sign up bonus for new cardholders.
- Premier Rewards Gold Card from American Express. Earn 25,000 Points after you spend $2,000 on purchases on your new Card in your first 3 months of Card Membership.
- The Platinum Card® from American Express.Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
Premier Rewards Gold Card from American Express Details
- Earn 25,000 Membership Rewards® Points after you use your new Card to make $2,000 in purchases within the first 3 months.
- 3X points for flights booked directly with airlines. 2X points at US restaurants, US gas stations, and at US supermarkets. 1X points on other purchases.
- No Foreign Transaction Fees.
- $100 Airline Fee Credit. Up to $100 a calendar year for baggage fees at one airline.
- Get a $75 hotel credit on qualifying charges, plus a room upgrade upon arrival, when available with The Hotel Collection at americanexpress.com/hc.
- $0 Intro Annual Fee for the 1st year, then $195.
- Expanding merchant acceptance: Over 1 million more places in the U.S. started accepting American Express® Cards in the last year.
- Terms Apply.
The Platinum Card® from American Express Details
- Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
- Up to $200 for Uber rides annually. Credit and Uber VIP status available to Basic Card Member only.
- 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel.
- 5X Membership Rewards® points on eligible hotels booked on amextravel.com.
- As a Platinum Card Member, you can enjoy access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
- Receive complimentary benefits with an average total value of $550 with Fine Hotels & Resorts. Learn More.
- $200 Airline Fee Credit, up to $200 per calendar year in baggage fees and more at one qualifying airline.
- Terms Apply.
Annual Fees – A Hidden Value
These American Express cards offer generous benefits, but they come at a price. Each of these cards carries an annual fee (waived for the first year for the Gold Card). Annual fees are never fun, but it may be possible to negotiate the fee. And in some cases, annual fees can earn the card holder rewards points upon renewal. The renewal fee for the Premier Rewards Gold Card from American Express is $195, starting in your second year. The Platinum Card from American Express has an annual fee of $550.
The Annual Fee can pay for itself. The benefits you receive for using these cards can far exceed the annual renewal fee, depending on your usage. For example, the Premier Rewards Gold Card from American Express comes with $175 in combined credits for airline fees and hotel credits that can be spent on qualifying dining, spa, and resort activities. Add in the other perks, and the $195 annual fee doesn’t seem so high, provided you will use the included benefits.
The Platinum Card from American Express has even more built-in value for cardholders. The face value of the benefits is a combined $950 in credits, when you add the $200 Uber credits, $200 airline credits, and $550 in average total value of $550 with Fine Hotels & Resorts. That does not include the Rewards for regular spending, or the the Global Lounge Collection which gives you access to airport lounges around the world.
Who Should Use These American Express Cards
These two cards are charge cards not credit cards, which means the bill must be paid in full each month. The target audience for these cards is a person who regularly spends a lot of money each month, has the ability to pay the bill in full, and wants to take advantage of the excellent benefits and services—particularly those of thePremier Rewards Gold Card from American Express and Platinum Card from American Express. The higher annual fees make these cards a better deal for those who will take advantage of the many services and discounts and plan to spend several thousand dollars a month with their card.
Disclaimer: Any editorial content is not provided or commissioned by American Express. Opinions expressed here are author’s alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through the American Express Affiliate Program.