You may be surprised to hear this, but i enjoy diving and travel. Also, as a great man once said, &...
You may be surprised to hear this, but i enjoy diving and travel. Also, as a great man once said, "It's been a wonderful life, I've enjoyed every minute".
When i was first upgraded from a gold card, the platinum fee was just under £200 a year. If you travel a few times a year and take at least one family holiday, then this fee was worth the cards unique travel benefits.
Along with the usual consumer protection benefits the cardholder receives:
1. Free worldwide travel insurance for their spouse, dependant children and themselves. This benefit is worth around £100 on its own, particularily if you holiday more than once a year.
2. Free entry to Business class airport lounges through the "Priority Pass" card scheme. This is an excellent facility as the lounges offer complimentary drinks (including alcohol), snacks, newspapers, internet connection and television. It is especially usefull when the airports are busy as the lounges offer a quiet retreat. I have used this on many occasions and if you wish to take a guest into the lounge Priority pass bill you £15 per guest.
3. Finally, if your scheduled flight is delayed or you luggage does not arrive at your destination you are immediately entitled to very good compensation: a. A four hour delay is worth £200 for food and drink to be billed to your card. I have used this on one occasion and even though i bought the meal for a group of friends Amex to did query my bill. b. If your luggage has not arrived after 24 hours of your arrival at the foreign destination your combined compensation is over £1000 for purchasing new items on your card.
It is of note that all compensation expenditure MUST be billed to the card, which can cause you problems with finding a retailer who will accept it. These are impressive benefits, but with the annual fee at £275 the card can only be of value to the "seasoned" traveller, as it will take a considerable amount of use to get your money's worth.
Furthermore, through my dealings with Amex over the years i have learnt a few things which may be of interest:
1. Retailers are charged around 3% of the transaction fee by Amex, compared to less than 2% for Visa and Mastercard, therefore you can have difficulties finding a retailer who will accept the card as a payment option. This is especially the case for goods that are discounted or sold with a low profit margin.
2. Amex boast about the cards "Dedicated Concierge and Lifestyle Service", however on the three occasions i requested them to book theatre tickets and resturant tables, they were unable to do this.
3. They do offer dissatisfied customers incentives to remain cardholders. When i held the gold card i complained about the customer service call centre and recived a full refund of my annual fee as a good will gesture. When american express raised the platinum fee to £245 a few years ago i threatened to cancel the card and they discounted the fee to the previous years level. Finally, when i was adamant that i was cancelling the card this year the offered me a complimentary gold card account again.
4. The Amex award points that you gain from spending on your card can get you some excellent gifts, but you are required to spend a considerable amount.
I have attempted to cover the benefits that were of interest to myself and possible prospective card holders, but in summary unless you travel a great deal on business and with your family the fee does not justify the benefits.
How helpful would this review be to a person making a buying decision? Rating guidelines
Advantages: Travel insurance, priority pass membership, accelarated hotel status and more! Disadvantages: Limited acceptance within the UK, although this is improving.
Dec 28th, 2004
very helpful by (75%):
helpful by (25%):
