The Platinum Card® from American Express (see rates & fees) comes with a not-so-small annual fee of $695. But it also comes with a litany of valuable benefits that can help you offset the annual fee.

However, many of these benefits are not automatic.

The U.S. Bank Visa® Platinum Card, while a solid option for some, doesn’t have much to offer overall. Its only notable benefit is cell phone insurance worth up to $600 per claim. 

Still, let’s look at the different features of the U.S. Bank Visa Platinum Card so you can decide for yourself whether this card would be a good addition to your wallet. 

ProsConsNo annual feeHigher credit requirementsCell phone insuranceNo rewardsNo welcome bonusCharges foreign transaction fee

U.S.

Most small business owners want to find a credit card that offers valuable perks to help their business and good spending bonuses. Some business owners may have already racked up a solid amount of credit card debt and need a card that will allow them to pay that debt off over time while avoiding interest. This kind of credit card is typically known as a balance transfer card, which is the category that the U.S. Bank Business Platinum Card falls under. 

This card offers no rewards or one-time offers.

If you’re looking for a solid, do it all travel card, then The Platinum Card® from American Express should be on your radar. This one card brings you great airport lounge access, hotel status, and more.

Let’s keep it short, because there’s a lot to get into with this great card and we’re going to take a deep dive into everything you need to know about the Amex Platinum.

The Basics of The Platinum Card from American Express

Before we dive deep into the perks of the Amex Platinum, we need to go over all the basics.

If you have The Platinum Card® from American Express (Rates & Fees) or The Business Platinum Card® from American Express (Rates & Fees), you’ve probably poked around the benefits page and came across the Fine Hotels + Resorts program. 

The FHR program provides elite-like benefits at select properties for hotels booked through the program. In order to get all the benefits, you do need to book through the FHR program and not directly with the property.

If you’ve been following the news in our hobby, you’ve probably already heard of the “enhancements” recently added to The Platinum Card® from American Express: 

Annual fee is now $695 (Rates & Fees) for new accounts opened on or after July 1, 2021 

For existing cardmembers, the new annual fee will take effect on the annual renewal date on or after Jan.

This week I helped my dad decide what to do with his Platinum Card® from American Express.