Published on June 16th, 2016 | by William Charles45
Different Flavors Of The American Express Platinum Card
Update: We’ve added the American Express Platinum Card for Schwab.
A lot of people don’t realize that American Express offer multiple co-branded versions of their Platinum credit card. I thought it would be fun to look at each of these cards and also create a table to compare them. This is particularly interesting as American Express have moved to a one bonus per lifetime rule on their personal cards, but you should (YMMV) be able to get the bonus on each of these cards once.
- Platinum Card From American Express. This is the original card that is offered directly from American Express.
- Mercedes Benz Platinum Card from American Express.
- The Platinum Card from American Express Exclusively for Morgan Stanley.
- The Platinum Card from American Express Exclusively for Goldman Sachs
- Platinum Card from American Express for Ameriprise Financial.
- American Express Platinum Card for Schwab
There are also a few other partners with which American Express used to offer co-branded platinum cards with: First Republic Bank & Guaranty bank.
All of these cards come with the same staple of benefits, so I am only going to focus on the things that are actually different: annual fees (for both primary and additional card holders).
|Platinum Card From American Express||Mercedes Benz||Morgan Stanley||Goldman Sachs||Ameriprise Financial||Charles Schwab|
|Annual Fee||$450||$475||$450||$450 per year||$0 first year then $450||$450 first year then $450|
|Additional Cardholders||First three are $175, each additional is $175||First three are $175, each additional is $175||First one free, then $175 each per year||$175 each per year||$175 each, first three are waived in first year||First three are $175, each additional is $175|
|Sign up bonus||40,000 points after $3,000 in spend within three months||75,000 points after $3,000 in purchases (limited time)||50,000 points after $1,000 in spend within three months||10,000 points after first purchase||None||40,000 points after $3,000 in spend within three months|
|Spending bonus||None||$1,000 certificate towards lease or purchase of Mercedes Benz after $5,000 in spend||$500 after $100,000 or more in spend within a card member year||40,000 points after $100,000 or more in spend within a card member year||5,000 MR points after every $20,000 in spend (limit of 30,000 MR points)||none|
|Availability||Everybody||Everybody||Must have MS account||Must have GS account||Restricted to those with AF account, but not enforced||Must have Charles Schwab account|
|Additional Benefits||None||$100 certificate at renewal of your Card account (can be used for official Mercedes Benz accessories & Up to 2,000 excess miles waived at lease-end on leases through Mercedes-Benz Financial Services||None||None||None||Redeem points for 1.25¢ per point. $100 statement credit if funds $250k+, $200 if funds 1,000k+|
Best Card Platinum Card
On the surface the original American Express platinum looks one of the weakest (Goldman Sachs card is by far the worst option) but you need to remember that people often receive sign up bonuses of 100,000/150,000 MR points (the best way to check for these offers is with the American Express pre-approval tool). The best option will really depend on what cards are available to you and what you value more (e.g cash or MR points) – I can see benefits to getting each of these cards. Considering you can only get the sign up bonus on each of these cards once, I’d recommend getting cards when they have increased sign up bonuses. Here is what I’d look for:
- Original American Express Platinum: 100,000+ points
- Mercedes Benz: Current 75,000 offer is the highest it’s been
- Morgan Stanley: ??
- Goldman Sachs: ??
- Ameriprise: 25,000 points with annual fee waived
- Charles Schwab: Hasn’t had an increased offer