S$1728 annual fee: Is the Amex Platinum Charge card worth it?

Above image: American Express Platinum Charge Card that currently has an S$1728 annual fee as of 2023 (source: Amex website Singapore)

S$1728 annual fee review: American Express

The last time I reviewed the worth of the American Express Platinum Charge card was in 2021. 

As such, after holding the card for a few more years, it’s time to review it again. 

It’s been over 3 years since I started with the Amex Platinum Charge card, and in the decision on whether to renew the card on an annual basis, one of the factors to seriously consider is the hefty S$1728 annual fee (which is slated to increase to S$1744 on 1st January 2024). 

I’ve always thought of  the card as unrivalled in terms of lifestyle perks offered. But is it worth it?

So I’m going to evaluate how I’ve used the card in the past year, from the mid 2022 to mid 2023 period. 

How I put a valuation: I’m generally going to take the minimum valuation – for example, if the value of an experience (e.g. hotel, dining) can vary between S$100 to S$200, I would take the LOWER value. This is to ensure that it’s truly worth paying the S$1728 annual fee per annum – a higher quantum may over-inflate the value of the card.

American Express 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.

~ HOTEL BENEFITS: COMPLIMENTARY STAYS. ELITE STATUS. FHR.

With the S$1728 annual fee, these were the Hotel Benefits that my family and I enjoyed over the past year:

1) Complimentary stay at Mandarin Oriental Singapore

Upon payment of the annual fee, every year, Platinum Charge Card holders will receive a One Night complimentary stay at a participating property. 

Typically, a 2D1N stay at the Mandarin Oriental Singapore will set you back at least S$500 (I’ve seen it go as high as S$800 as well, depending on the season). As such, I’m going to value this at S$500.

2) Complimentary stay at Fraser Suites Akasaka Tokyo

This was a complimentary 3D2N Fraser Property stay voucher that came as the result of the Platinum Reserve Card.

At the time that I had applied for Platinum Charge card, back then, card holders did not have to pay an annual fee for the Platinum Reserve, if they also happened to possess the card.

This led to many Platinum Charge card holders actually also holding the Platinum Reserve card, because they do get an extra set of vouchers.

However, with effect from November 2022, new applicants to the Platinum Charge card can no longer enjoy this benefit – and they would have to pay the annual fee for the Platinum Reserve (S$540 per annum).

While the policy would not affect existing card holders pre-November 2022, this could be a deal breaker for new applicants

3) Elite Status in Hotel Programmes 

With the Amex Platinum Charge card, currently, card members receive Elite Hotel statuses in four hotel membership programmes: Hilton Honors, Marriott Bonvoy, DISCOVERY, and Radisson Hotels. 

Over the past few years, I’ve enjoyed the Hilton Honors Gold status the most. This includes stays at Hilton Singapore, Conrad Centennial Singapore, Doubletree by Hilton Johor Bahru and Hilton Kuala Lumpur.

Among these places – I recommend the Conrad Centennial Singapore; the Executive Lounge there is one of the better ones here.

In 2022-2023, while I personally did not use this benefit much, my husband – who is my supplementary card holder and is entitled to ALL the benefits that the main card holder possesses – travelled quite a bit for work, and he used the hotel benefits to a significant extent.

4) S$400 Lodging Credit + FHR (Fine Hotels and Resorts) benefits

In 2022, as part of the benefits, Platinum Charge Card holders had S$800 in travel credits to spend on the American Express travel website: this was divided into $400 in hotel lodging credits and S$400 in airline credits.

However, on 1st January 2023, these benefits got overhauled and now Amex offers S$1204 worth in statement credits spread out across four categories (whether this change is good or bad depends on your lifestyle and how you use the card).

As such, my valuation here would be based on the 2022 one of S$800 and not the 2023 one of S$1204, as I consumed the benefits in late 2022.

I used the S$400 lodging credits to book a stay at the Conrad Tokyo, and doubled it up with FHR (Fine Hotels and Resorts) benefits.

Hotel Benefits: Total value

For this category, the value gained from using the card in the past year adds up to be S$1700.

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.

~ TRAVEL BENEFITS: AIR CREDITS. PRIORITY PASS. CAR RENTAL.

These were the Travel benefits that my family and I enjoyed over the past year:

1) S$400 Airline Credit

Again, this was part of the 2022 benefits (S$800 travel credits split into S$400 for lodging and S$400 for airline), which ceased to exist in 2023.

In late 2022, my family used the airline credits to book flights from the Amex Travel website.

2) Priority Pass: Airport Lounge

The S$1728 annual fee includes the highest tier of Priority Pass membership (worth USD469, or S$640, at the time of writing) for the main card holder and ONE supplementary card holder. This membership grants holders unlimited complimentary visitations to Airport Lounges. Priority Pass members can also bring one guests each with them into the lounge.

This means, if the both the husband and I were to travel, both our kids receive complimentary lounge access as well (at the moment, my younger child is 3 years old, and most lounges start to charge for guests age 2 and above) – which is EXTREMELY useful when we travel. 

The husband used this benefit a lot, given his tendency to travel for work. Now, having been accustomed to the Airport Lounge life, he can no longer do without them. Hahaha.

3) Car Rental: Hertz Gold

This is a less talked-about benefit: Car Rental perks. The husband and I have used this a few times when travelling with family and friends, and it has made a real difference in the way we experience the car rental services.

Platinum Charge card holders receive both elite status in Avis (Avis President’s Club) and Hertz (Hertz Gold Plus Rewards Five Star). We more commonly go with Hertz, and these are the benefits we enjoyed:

Hertz Gold Plus Rewards Five Star benefits

• Priority service at the counter
• One car class upgrade subject to availability

Additional Platinum benefits include:

• Up to 15% savings off published rates
• 25% savings on Hertz Prestige Collection with a Saturday night kept available
• 4-hour return grace period when returning the vehicle (0-4 hours, varies by location)
• Free additional driver for spouse/civil partner

Travel Benefits: Total value

In this American Express Platinum Charge card review, for this category, the value of what I have gained from the past year of using the card adds up to be S$1450.

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.

~ DINING BENEFITS

1) Dining Vouchers at Violet Oon and Jaan by Kirk Westaway.

There is a stack of dining vouchers that comes with the Platinum Charge card upon payment of the S$1728 annual fee. 

I’ve personally not used all of them, but when I do, the experiences are usually good. To date, I’ve dined at Violet Oon – not just once but visited twice – and once at Jaan by Kirk Westaway. Each time, I used a S$50 dine-in voucher

Dining voucher for Jaan at Kirk Westaway

2) S$100 Dining Vouchers at Tower Club Singapore

Tower club – went there multiple times, and on two occasions, the S$100 voucher was used to offset the cost.

This is my latest dining at Tower Club review:

3) Complimentary cake / bottle of wine at selected partners

• Platinum Charge Card holders: Redeem a Complimentary cake / bottle of wine at Fairmont, Swissotel the Stamford, or Swissotel Merchant Court (x2 vouchers)
• Platinum Reserve Card holders: Redeem a Complimentary cake / bottle of wine at Fairmont, Swissotel the Stamford, or Swissotel Merchant Court (x2 vouchers)
• Platinum Reserve Card holders: Redeem two complimentary bottles of wine at Grand Cru Concierge

In total, I redeemed six bottles of alcohol through these vouchers.

However, new applicants since 2022 November have had to pay the annual fee for the Platinum Reserve card, even if they possess the Platinum Charge card – so again, if you plan to apply for a new card, do consider if this is a deal breaker for you.

4) Love Dining benefits

I’ve used the card extensively for Love Dining benefits in high-end hotels and several upscale restaurants. (Including places such as St. Regis Singapore, Fairmont Singapore, Swissotel the stamford, and other distinguished dining establishments). It’s an amazing benefit whereby discounts for dining go up to 50% off. 

For reference, here is the list of my personal love dining experiences.

Additionally, the Love Dining experiences of my supplementary card holder – while the benefits were reaped, these are not calculated in the total value.

But… in the end, I decided to be strict, so this is how I’ve assessed it’s value:

Dining Benefits: Total value

Adding on to this American Express Platinum Charge Card review, in the Dining category, the value received from usage of the card adds up to:

~ OTHER LIFESTYLE BENEFITS

1) Spa Visitations

I rarely used the spa vouchers here, but for the one I did, at Adeva spa, I got S$100 off a treatment when I spent at least S$180 for it.

2) Random Promotions and Discounts offered by American Express

Occasionally, American Express will release promotions that card members can save to their card to use later. 

For example these include cashback at hotels with a minimum spend, or a shopping promotion at Net-a-porter or other stores both local and abroad. 

They can include even rebates from grocery stores.

Lifestyle Benefits: Total value

In this last section of the American Express Platinum Charge Card review, in the Lifestyle category, the value received from usage of the card adds up to:

~ PLATINUM CHARGE CARD REVIEW: OVERALL BENEFITS

Clearly, the Platinum Charge Card is unparalleled when it comes to hotel, dining, and lifestle benefits. To sum up the value of all the benefits highlighted so far: 

~ PLATINUM CHARGE CARD REVIEW: IS IT WORTH PAYING THE ANNUAL FEE OF S$1728?

For me, yes, the card is definitely worth it. Despite having an S$1728 annual fee, I received benefits of S$4854 in return. The returns are is a little over 2.5 times the annual fee. 

This is NOT the kind of credit card where there is zero annual fee and you maybe get S$50 in annual benefits. The American Express Platinum Charge Card is a LIFESTYLE card above all – it caters to those who enjoy the high life – those who love fine dining and hotel stays. 

As such, the card IS totally worth it – but only if the benefits are USED.

So, in choosing to renew the card, did I fully utilize it? Yes and No – Yes because I did use the card to a hugely remarkable extent. But were the benefits that I did NOT use? Absolutely. The underutilized benefits, for me, were the following.

~ BENEFITS UNUSED: PLATINUM CHARGE CARD REVIEW

1) Chillax! By Amex.

Chillax features perks such as huge discounts or 1-for-1 Drinks. See here for the full list of participating drinking places.

This is large attriburted to lifestyle. On most nights, I am at home tending to the children. Late night drinking has been almost nonexistent (most of my food reviews, if you look carefully, tend to be during lunch time or with the family during weekends).

Hopefully when the children grow older and do not require as much attention (not that I regret it any way!), late-night drinking can be explored again. 

2) Not all vouchers were used

Some of the vouchers were happily enjoyed, and some were unfortunately left untouched. This is not an exhaustive list – but here are some of the vouchers left to expire – either because I couldn’t use them by the deadline, or because they just weren’t compatible with my family’s needs.

• 50% off 8-10 Adults dining at either Asian Market Cafe (Fairmont), Clove (Swissotel the Stamford), or Ellenborough Market Cafe (Swissotel Merchant Court)
• $50 off at participating restaurants at Marriott Tang Plaza Hotel (with minimum spend $100)
• Complimentary bottle of house wine with 4 paying adults for buffet lunch or dinner at Marriott Cafe.
• S$100 dining voucher at WoolooMooloo
• S$100 off spa treatment vouchers at Spa Rael and The Ultimate Spa
• … etc and a few others

~ FINAL WORDS

So, here comes the question:

Would I be renewing the card? 100% yes, and here’s to looking forward to use it for another year.

I’ve had a wonderful exeperience using the American Express for the past few years, and I see no reason to NOT renew it.

The review next year will be an interesting one (I definitely plan to do it), given the change in Amex benefits (e.g. S$1204 credits in four categories instead of S$800 travel/lodging credits). However – most of what I currently enjoy about hte card – Priority Pass, Love Dining, Hotel Benefits – are still strongly present in the card. As such, I plan to tightly hold onto the card, for now.

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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