 Hello everyone, this is financial author Amit Dan of amitdan.com. On this channel, you'll find financial travel and more videos just like the one you're watching right now. If you like what you see, please give it a thumbs up and consider subscribing. American Express Platinum, 3 things to love and hate. Hello everyone, this is financial author Amit Dan of amitdan.com. Today I'll talk about 3 American Express Platinum things that you'll love and hate. I'm expecting this video about 3-4 minutes long. The first thing you'll love about your American Express Platinum credit card is the unlimited lounge access across the globe. American Express Platinum credit card provides unlimited lounge access across the globe through various lounge programs. For example, Plaza International Lounge Program, Priority Pass, Delta Sky Club and American Express Centurion Lounge. You'll have lounge access for you and your friends or relatives. For some of them, you don't have to pay for extra or additional persons and for some of them, you do have to pay. However, for your own personal use, it will be always free and there's no limit to it that how many times you can access these lounges. So this is the most important or the first thing you'll love about your American Express Platinum credit card. The second thing you'll love about your American Express Platinum credit card is the upgraded gold elite status you'll be provided for several hotel loyalty programs. Some of these programs are Club Carson Hotel Program, Starwood Preferred Guest Hotel Program, Hilton Honors Hotel Program and many more. Regularly, in order to get elite gold status with these hotel loyalty programs, you'd require to stay many nights, sometimes it could be 20, 30 nights with these hotels. However, once you have the American Express Platinum credit card, you'll be provided upgraded gold status without staying those nights right away. And once you have the elite gold status, you'll be receiving various perks and features depending on what type of hotel chain you're looking at. So this is another thing you'll love about your American Express Platinum credit card. Another thing you'll love about your American Express Platinum credit card is the full insurance coverage you'll be receiving for free. Some of these insurance coverages are medical insurance, flight data insurance, trip cancellation insurance, trip interruption insurance and many more. And the good thing about these insurances is that the provider is the reputable one and a very, which has a very good rating. Credit cards on the market will provide you these insurances. However, whenever it comes to providing the coverage, there will be, there are a lot of problems and hassles by some of these insurance provider for other credit cards. But for the American Express Platinum Gold, sorry, the American Express Platinum credit card, the insurance provider is a reputable one. And it has a very good reputation comes to processing the claims. Now let's talk about the things you'll not love about your American Express Platinum credit card. The first thing you'll hate about your American Express Platinum credit card is the hefty annual fees. The fees $699 Canadian per year, which is a lot of fees comparing to other premium credit card. Most other premium credit cards have annual fees of in the range of $120 to $150 or $180, but not at this level, which is $699. Yes, there are lots of parts and features. However, when it comes to paying the almost $700 right up front, many of you will not love this. The second thing you will hate about the MX Platinum credit card is the poor reverse earning structure. You'll be earning only $1.25 per dollar spent, and there's no bonus or special categories for accelerated earning. For a hefty annual fee of $699 per year, the earning $1.25 per dollar is really poor, and many of you will not like it, especially when there's the American Express Gold credit card, which charges only $150 annual fee, and there are special categories where you'll be earning two points per dollar spent. The third thing you will hate about your American Express Platinum credit card is very limited transfer partners. If you want to transfer points from American Express to other loyalty programs, some of these partners are SPG or Starved Preferred Guest, Hilton Honors, AeroPlan, British Airways Avius, and so on. If you would like to transfer to other programs, you're very limited to transfer from American Express to these partners. Before committing long term to any credit cards, make sure that your returns are higher than the amount you're spending on that credit card. There will be more videos coming up, but that's all for today. Thank you for watching. If you like what you see, please give it a thumbs up and consider subscribing. Thank you.