“What’s in your wallet?” Oh, wait, wrong slogan! Furthermore, this isn’t a Capital One commercial but a luxury brand for high flying travellers. We are delving into the American Express Platinum Lifestyle card. All caps, no hyphens, no hype!1 The good news is that you don’t need deep pockets to enjoy all the perks. But it does help if you are already in the American Express family and your credit score is above par.
Maiden Voyage, Airport Lounges & Fees
The Platinum card made its debut in 1984, with an annual fee of $250. In 2021, that fee jumped to $695, from $550, making it one of the most expensive metal cards to maintain. Moreover in 2023, there was a fee increase of $20 for authorised users. The new fee of $195 was effective immediately.
The logic behind these fee increases stems from overcrowding at airport lounges. Thus a fee increase may discourage card usage. However, the American Express Platinum cards are pretty ubiquitous if you are a frequent traveller. Business travellers and jet setters like us love airport lounges. It’s one of the many perks you receive with the American Express Platinum lifestyle card.
Perks of the Trade
The Social Diary primarily use our American Express Platinum cards for the “By Invitation Only” social activities. Past events on this list included a private after hours tour and swag at The Met and Veuve Clicquot Polo Classic on Liberty Island. Occasionally, the list includes movie premiers and screenings and fashion shows.
The new Ghostbusters movie premiered in Manhattan last week, with a party at Firehouse, Hook & Ladder Company 8. The screenings took place this past Tuesday in major cities across the country including in New York and Boston. Each complimentary ticket included popcorn and a non-alcoholic drink. The movie is set to release on Friday.
Sports is a big part of the American Express Platinum lifestyle. The list also includes motorsports. Nothing says luxury like Formula 1 (F1) racing. The list included not one, but two upcoming F1 events, as we posted on Twitter. Golf lovers can watch the 124th U.S. Open Championship in June with a luxury hospitality package.
Black card, optional
American Express Platinum card has no spending limit. That doesn’t mean you can go “hog wild” with spending. Moreover, earning and keeping the card requires some financial acumen. The Centurion Black Card is also an option. The fees are much higher at $5000 per year, with an initiation fee currently at $10000. Top tiered level hotel partners and rental cars are included. Otherwise, most of the benefits are relatively similar.
On the “By Invitation Only” list, the Black Card members get priority. The time difference can between one to three hours, or a full day, depending on the social event. Last year, reservation for the Barbie movie and Karl Lagerfeld Exhibit at The Met opened up simultaneously. We were on two different computers and a mobile phone trying to get the complimentary tickets. The Black Card, in this instance made all the difference. Some Platinum members couldn’t obtain tickets for either.
Both the Platinum and Black Card had access to a private jet service called Wheels Up, but that went away in 2023. There was a good reason for that too. Apparently Wheels Up may be grounding to a halt due to financial reasons. Responsible ownership is the only way to enjoy all the perks that a luxury lifestyle card affords. Otherwise, it will be “belly up.”
- This story was updated to include relevant information and formatting ↩︎