American Express has a great public offer for their Platinum Mercedes-Benz card. The offer comes with 75,000 Membership Rewards bonus after you charge $3,000 in purchases on the Card within the first three months of Card Membership. This card comes with similar benefits to the regular Platinum card, but it is a different product so you’re eligible to get the bonus, even if you’ve had or have the regular Platinum card. Offer is available until 6/22/2016.
It has $475 annual fee which is not waived for the first year, but it can be offset almost entirely (using airline fee credit). You receive statement credits of up to $200 per calendar year toward incidental air travel fees, Card Member must select a qualifying airline. So you can get this credit twice while paying the annual fee just once. You can actually get it 3 times, but you’d have to apply close to the end of the year.
Lounge access is a big plus for the card that will even make up for the annual fee for many frequent flyers. You get complimentary access to over 900 airport lounges, including The Centurion lounge network, Delta Sky Clubs, and Airspace Lounges.
You also get a fee credit for Global Entry or TSA Precheck. You receive one Global Entry ($100) statement credit or one TSA Precheck ($85) statement credit.
The card has some added value if you own or are planning to buy a Mercedes-Benz. You will earn 5x points on select Mercedez-Benz purchases. You get a $1,000 certificate toward the purchase or lease of a new Mercedes after spending $5,000 each year and $100 annual reward certificate for Mercedes-Benz accessories. If you’re leasing you get 2,000 excess miles waived at lease end.
- Apply Here
- Earn 75,000 Membership Rewards points after you charge $3,000 in purchases on the Card within the first three months of Card Membership
- $200 airline fee credit: select a qualifying airline and then receive up to $200 per calendar year in statement credits when incidental fees, such as checked bags and in-flight refreshments, are charged to your Platinum Mercedes-Benz card
- Acess to The Centurion lounge, Delta Sky Clubs, and Airspace Lounges
- Fee credit for Global Entry or TSA Precheck: Receive one Global Entry ($100) statement credit or one TSA Precheck ($85) statement credit
- 5x points on select Mercedez-Benz purchases
- 1x point per dollar on all other purchases
- $475 annual fee (not waived)
- Offer expires on 6/22/2016
With such a hefty $450 annual fee, not waived, the question is always whether the card is worth it. I’d say yes it is. Beyond the first year, it becomes harder to justify the $450 cost though since there are no category spend bonuses.
Always make sure you are eligible, otherwise you may complete the minimum spend for no reason. Specifically, for the AMEX Business Platinum, the welcome bonus is not available if you currently have the card or have had this card within the last 12 months.