Credit cards are not only a good option for secure and cashless payment at home and abroad, but often also offer a large package of additional services. As does the credit card provider American Express, which offers 55,000 membership points as a welcome bonus, among other things. But is it worth it?
Credit card providers such as Amex often offer new and existing customers a large package of worthwhile bonuses, such as various insurance policies when traveling abroad. New customers who opt for the Platinum Card can also look forward to 55,000 Membership Rewards points or a starting credit of 200 euros and much more.
Welcome bonus for new customers at Amex: 55,000 membership points and more
The American Express Platinum Card is one of the premium credit cards and as such offers its customers corresponding services. In addition to a membership program, in which rewards points can be collected with every purchase, there is also an insurance package for travel or exclusive shopping benefits. There are also other benefits such as an annual restaurant credit of 150 euros, which can be redeemed in various participating restaurants throughout Germany or abroad.
Here’s the offer American Express:
The advantages of the Amex Platinum Card at a glance:
- 55,000 Membership Rewards points as a welcome bonus or a starting credit of 200 euros
- Annual restaurant credit of 150 euros, redeemable in participating restaurants
- Entertainment credit of 120 euros per year for streaming services (WOW, Netflix and Amazon, including video, music, Audible)
- Participation in the MR bonus program (one point for every euro spent)
- 200 euros Sixt-Ride travel credit per year
- 200 euros travel credit (including for flights or hotel accommodation)
- 90 euros shopping credit
- including two Priority Pass memberships for primary and one secondary cardholder with access to over 1,200 airport lounges
- Status upgrades for hotel, airline or rental car partners
- Insurance package (including international health or travel cancellation insurance)
- Cost: 60 euros per month
Despite all the benefits: the Platinum Card is not available free of charge, but costs 60 euros a month. Another condition: In order to receive the 55,000 membership points, EUR 10,000 must be spent on the card in the first six months after signing the contract. Calculated for the month, that would be just under 1,667 euros – not necessarily little.
When the Amex Platinum Card is still worthwhile
10,000 euros in card sales and 60 euros in fees per month are quite a sum. Nevertheless, the purchase can be worthwhile. The welcome bonus of 55,000 Membership Rewards points alone can be used to pay for purchases at Amazon, for example, or to convert them into award miles, which can then be used for hotel bookings. With the Amex Platinum, cardholders also have access to more than 1,200 airport lounges worldwide, whose regular Prestige membership costs 459 euros per person per year. Added to this is the value of the additional services such as restaurant and entertainment credits, which add up to 760 euros and thus exceed the annual basic costs of the card of 720 euros.
Alternative: This credit card also offers attractive benefits
Not everyone can or wants to afford a credit card that costs 60 euros a month. However, there are alternatives such as Lufthansa’s Miles & More, for example. Monthly fees of EUR 11.50 are incurred for this credit card and there is no need to do without worthwhile additional services. This credit card also scores with interesting inclusive services, albeit with a significantly smaller offer than with the Amex Platinum. Miles & More also offers a welcome bonus for new customers of 4,000 award miles and an insurance package for private trips.
The benefits of Miles & More Gold:
- 4,000 award miles welcome bonus
- Bonus program (one mile for every two euros spent)
- Mileage Protection
- Insurance package for private trips with travel cancellation and international health insurance included
- one gigabyte of free data volume for mobile surfing abroad (three times a year in total)
- individually adaptable with additional packages (travel, shopping or Miles Plus package with 100 additional welcome miles each)
- Cost: 11.50 euros per month
Here it goes to offer from Miles & More:
For whom are premium cards worthwhile?
Above all, frequent travelers benefit from the advantages of a premium credit card, but they can also be an option with regard to upcoming holidays abroad. The credit cards create financial flexibility and offer security. Nevertheless, everyone should check to what extent the included insurance and additional services make sense and are also needed: If, for example, a certain credit card insurance is only valid if the trip was also paid for with it, you should know this beforehand so that you are not caught off guard in an emergency.
Certain types of insurance may also already exist or be taken out cheaply. Health insurance for travel abroad, for example, is available from as little as 15 euros per year and luggage insurance can already be part of household contents insurance.
Credit Card Bonuses: What Matters?
If you are thinking about getting a premium credit card, you should pay attention to possible restrictions in bonus programs: Can points only be redeemed at certain shops? When do they expire? Ultimately, it’s about weighing up whether the fees for additional services are worth the money. If you travel a lot anyway, often need a rental car and often stay in hotels, a premium credit card can be worthwhile.
It is also important not to repay credit card debt in installments, as these are often associated with high interest rates.
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