The first year with AmEx Platinum was more or less a success, with an estimated $1,187 in “savings” in addition to the mileage. That more than offset the annual fees. Unfortunately, mostly through our own fault, it failed to pay for itself over the billing period from July 2023 through June of 2024.

Last year we decided to reenter the world of premium credit cards, and we felt that the American Express Platinum offered the best benefits for our lifestyle. We didn’t take the decision to apply lightly because the annual fee is steep -- $695 for the primary user, plus $175 for each additional card. For us, that meant we had to at least exceed $870 in “value” to break even.