Attention serious travelers: If you've been thinking about signing up for an elite travel rewards credit card, now might be the time to do it. The Platinum Card® from American Express is currently offering one of its heftiest intro bonuses in recent years: 60,000 Membership Rewards points once you spend $5,000 on purchases within the first three months of owning the card. (Note: The points offer is valid as of publication date, but could change at any time.)
Of course, you should think carefully before choosing this card. It comes with a considerable $550 annual fee, but for the right person, that fee could pay for itself, considering all the benefits that come with the card.
For example, cardmembers earn five points for every dollar spent on airfare purchased directly with an airline or through the American Express travel portal.
That's one of the best reward earning rates around, and frequent fliers can rack up rewards quickly with this benefit. (For comparison, the Chase Sapphire ReserveSM Card, a similar elite travel card with a $450 fee, offers three points per dollar spent on travel.)
Cardholders also get a $200 credit for Uber purchases each year (up to $15 each month, except for December, when it jumps to $20). You also get a $200 to spend on fees, such as checked bags or in-flight purchases at any one airline. (Eligible airlines include Alaska, American, Delta, Frontier, Hawaiian, JetBlue, Spirit, Southwest and United.) And if you're applying for Global Entry or TSA Pre-Check, you get $100 to cover the fee.
You can also travel in style with the Platinum card: You get $550 in credits at hotels and resorts in the American Express Fine Hotels and Resorts group, plus access to more than 1,000 airport lounges worldwide, including the AmEx Centurion lounges, Priority Pass Select lounges and Delta Sky Clubs.
In fact, this is a good deal for Delta loyalists, thanks to the lounge access and fee credits—and the ability to transfer points to Delta on a one to one basis (meaning one Membership Rewards point equals one Delta SkyMile). That means if you spend just $2,500 on the card, you already have enough for a one-way economy ticket on Delta using 12,500 SkyMiles.
The information related to the Chase Sapphire Reserve® credit card has been collected by Experian and has not been reviewed or provided by the issuer of the card.