$450 Annual Fee for American Express Platinum Card Waived for the First Year

American Express is offering up the Platinum card with no annual fee for the first year! That is a savings of $450 right there! This offer is targeted specifically to customers of Ameriprise Financial. However there does not appear to be anything in the application or application terms that would identify you as an Ameriprise customer. There are also several reports of people who do not have any relationship with Ameriprise still being able to successfully receive this offer.

amex platinum with no annual fee for the first year

There is one major point I need to make. This offer does NOT come with any sign up bonus. No bonus points at all, none, zilch, nada. There is also a public offer that comes with 40,000 bonus points however I would make the argument that this is a better offer. If you choose the 40,000 bonus point offer you are essentially choosing to pay $450 for 40,000 points and I would never recommend buying MR points at over 1 cent per point.

It does go against the grain to apply for a credit card with no sign up bonus, I get it. This card is not one of those cards you get simply for a sign-up bonus and then cancel. This is a card you get for the ongoing perks such as:

  • $200 Annual Airline Fee Credit – for incidentals such as baggage fees, flight change fees, in-flight snacks, etc.
  • Lounge Access – Including American Express Centurion lounges for you and your family or 2 travel companions and Delta Sky Club (only free for yourself, guests after May 1st, 2014)
  • $100 Global Entry fee reimbursement
  • Complementary Gold Status with SPG for duration of card membership
  • No foreign transaction fee

Plus EXCLUSIVE TO THIS OFFER the card comes with the ability to “earn an additional 5,000 Membership Rewards points for each $20,000 in eligible purchases on your Platinum Card, up to 30,000 points per year.

I would put the value of this card easily at a bare minimum of $600 just to hold this card for a free year for your leisure traveler flying only a couple of times a year. Those who travel frequently will get far more value from this offer. The $200 airline fee credit is per calendar year so you could easily get $400 in fee credits before having to pay the annual fee on the card. Plus between lounge access and SPG Gold status you can get quite a bit of additional value out of this card depending on you travel habits.

If you can get your hands on one of the larger targeted bonus offers of 100,000 bonus points you would be better off with that even after paying the annual fee. But for the rest of us who never seem to be targeted for the 100k offers, this could be worth consideration. Keep in mind however that if you get this offer you will not be eligible for any other sign up bonus on this card for 12 months after you close the card Ever! Also as this states it is only for Ameriprise customers, your miles may vary.

HT: Running With Miles

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13 Responses to $450 Annual Fee for American Express Platinum Card Waived for the First Year

  1. Don says:

    Am I eligible if I already have anAmex Gold? Or is this considered a differennt product?

    • Jeremy - The Points Traveler says:

      This would be a different product. Some bonus offers have specified that you are not eligible for the sign up bonus if you are a current Gold card holder (or have had in the last 90 days), however this offer makes no mention of that in the terms and it doesn’t have a sign-up bonus anyway so you should be just fine.

  2. Jerry Mandel says:

    You didn’t mention the minimum spending. How much?

  3. jeremy says:

    I just applied, but my offer was for 25K points after 3k spend and I was approved.

  4. john says:

    How do they check to see if I am an ameriprise client? Or do they check? Or if I go through this website do I automatically get the fee waived the first year?

  5. Pingback: American Express Platinum Card With 1st Year Annual Fee Waived PLUS 25,000 Bonus Points - Limited Time Offer The Points Traveler

  6. JO says:

    If i don’t provide the ss# for authorized users (just name and birth date), will anything about their card show up on THEIR credit reports? Thanks

    • Generally yes – The credit bureaus will use the name and address information to attempt to match up the auth user with their credit report. The SS# will just make it more reliable and less likely to be reported to the wrong persons report.

      • JO says:

        I didn’t even put in an address, just the name and birthdate. Is tha enough for them? i really didn’t want to have my sister’s credit report affected by adding her.

        • No guarantees – it is still possible and I’d say likely. However, w/ an AU if when you remove her it will remove the history so if she needs it off her credit report at any time you can just remove her and wait a month for it to disappear.

          • JO says:

            Thanks so much. I put it on the amex application that offered it free for a year – I haven’t gotten approval yet, so I think I’ll call and see if I can just take her off before it gets approved.

Let me know what you are thinking!