Amex Platinum Reserve: wef 1 Nov 2022, new card holders pay annual fee even with Amex Platinum Charge Card

Above Image: Amex Platinum Reserve Card. (Source: American Express Singapore)

Changes to Amex Platinum Reserve priviledge for Platinum Charge Card holders

Historically, with American Express as long as a card holder owns the Platinum Charge Card and pays the annual fee of SG$1712, the card holder does not have to pay the annual fees of other Amex cards owned.

However, with effect from 1st November 2022, new card applicants will no longer enjoy this benefit. Moving forward, for Platinum Charge Card holders, if they apply for the Platinum Reserve Card after 1st November 2022,  the annual fee for the Platinum Reserve card have to be paid.

This policy change will only affect new card applicants. Existing card holders (who already hold both an Amex Platinum Charge Card and Platinum Reserve Card will continue to enjoy annual fee waivers for the Platinum Reserve Card.

American Express: original policy of one Annual Fee

I personally own THREE cards from American Express:

• Amex Platinum Charge Card (annual fee: S$1712)
• Amex Platinum Reserve Credit Card (annual fee: S$535)
• Amex Krisflyer Ascend Credit Card (annual fee: S$337.05)

Historically, despite possessing THREE of these cards, I’ve only ever paid the annual fee for the Platinum Charge Card (S$1712 as of late 2022).

Thanks to this old one-fee policy, Platinum Charge Card holders typically also hold onto the Platinum Reserve card. While the Platinum Reserve card has inferior benefits, it does come with a fairly decent stack of hotel and dining vouchers that’s given to the card holder every year.

An especially notable benefit is the following hotel voucher: a complimentary 3D2N stay at participating Fraser Properties globally.

Within Singapore, I’ve used it before at Capri by Fraser Changi City. Abroad, the voucher recently covered a 3D2N stay at Fraser Suites Akasaka Tokyo. 

Amex Platinum Reserve: Moving forward

Moving forward, suddenly, for new card applicants, if the annual fee of the Platinum Reserve Card cannot be waived, it’s hard to say whether it’s still worth it to have both cards. Honestly, if it weren’t for the complimentary vouchers and 3D2N stay at a Fraser proerpty worldwide, I almost never use the Platinum Reserve card – it simply does not give as much benefits as the Platinum Charge Card.

The question for new card holders then, would be, is the annual fee of S$535 worth the 3D2N Fraser property voucher? Only they can answer it – my suggestion is to examine the cost of a participating property (see list of properties here), as cost hugely varies depending on location.

For myself and existing card holders (with cards applied for prior to 1 Nov 2022) – this is a sign to hang onto the Platinum Reserve card, and not cancel it for the time being. 

Apply for an American Express credit card and get bonus points!

Platinum Charge Card. Image Source: American Express

Inspired by this post and want to apply for an American Express credit card? Apply through one of my referral links and receive either bonus Membership Rewards points or statement credit:

• The Platinum Charge Card: Use this referral link and receive up to 140,000 bonus Membership Rewards points when you apply and minimum spend criteria is met.
• The American Express Platinum Card: Use this referral link and receive up to 62,500 Membership Rewards points when you apply and minimum spend criteria is met.
• American Express Singapore Airlines KrisFlyer Ascend Credit Card: Use this referral link and receive up to 35, 000 Krisflyer miles when you apply and minimum spend criteria is met. 

Disclaimer: the views and opinions expressed on this page are that of Happy High Life and may not necessarily reflect the position of American Express. Happy High Life is not responsible for any decisions made by readers. The terms and conditions for each credit card's application and usage may be subject to change by American Express. Therefore, readers are recommended to check any matters with American Express or its partners; the list of all benefits of the Platinum Charge Card can be found here.

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