American Express Platinum Card
American Express' top-tier card, the Platinum Card offers a wide range of cash back and travel benefits, as well as some of the most comprehensive insurance for everything from returns, cancelations, smartphone protection, and more.
Sign Up Bonus
40,000 AMEX Membership Rewards Plus
¥170,000 Cash Back
First Year Value
¥275,000
(breakdown below)Annual Fee
¥165,000
Sign Up Bonus Details
This card's sign up bonus offers an incredible value worth 40,000 yen, along with various ongoing cashback benefits. Let's look at the sign up bonus details:
- ¥35,000 cashback: After spending ¥2,000,000 in the first 3 months
- ¥105,000 cashback: After spending ¥4,000,000 in the first 6 months
- ¥30,000 travel credit: Upon card membership
- 40,000 points: After spending ¥4,000,000 or more
By achieving all these sign up bonuses, you can receive value equivalent to one year's worth of annual fees! We estimate points to be worth ¥1.60 each, making this sign up bonus (points portion) worth approximately ¥64,000!
Card Benefits
The Platinum Card offers numerous benefits that can well exceed the annual fee. Along with a stylish metal card, it comes with travel benefits, dining perks, various insurance coverage, and complimentary enrollment in Membership Rewards Plus.
- Metal Platinum Card (with plastic secondary card)
- Up to 4 free supplementary cards
- Global Lounge Collection - Access to over 1,400 airport lounges worldwide
- Free Stay Gift - Complimentary pair stay certificate at participating domestic hotels upon card renewal
- Hotel Elite Status (Hilton Honors Gold, Marriott Bonvoy Gold Elite, etc.)
- KIWAMI 50® - Priority reservations at popular hard-to-book restaurants
- Free Membership Rewards Plus enrollment (¥3,300 value)
The Platinum Card also includes comprehensive insurance and protection benefits:
- Travel Accident Insurance - Covers accidents during travel and theft of belongings. Automatically covers primary cardmember, spouse, and dependent family members
- Smartphone Protection - Up to ¥150,000 coverage for smartphone damage (including screen cracks), fire, water damage, and theft
- Homeware Protection - 50-100% coverage of purchase price for accidental damage to electronics, computers, etc.
- Overseas Flight Delay Coverage - Covers meals, accommodation costs for flight delays, and essential items for baggage delays
- Cancellation Protection - Covers travel and event cancellation costs due to sudden hospitalization
- Shopping Protection - Covers damage or theft of card purchases for 90 days, up to ¥5 million annually (¥10,000 deductible per incident)
- Return Protection - If a store won't accept returns within 90 days, receive up to ¥30,000 per item (¥150,000 annually)
Additionally, the following cashback benefits are offered:
- Global Dining Cashback - 20% cashback at eligible restaurants (up to ¥40,000 annually)
- Digital Entertainment Cashback - 20% cashback on eligible services (up to ¥12,000 annually). Eligible services: Hulu, DAZN
- Luxury Shopping Cashback - 20% cashback at eligible stores (up to ¥30,000 annually)
The value of these benefits varies greatly depending on usage. Our conservative estimate puts the value at ¥41,000 annually, but for those who maximize all cashback benefits and travel frequently, this becomes one of the most valuable cards in the market.
For example, by maximizing Global Dining (up to ¥40,000), Digital Entertainment (up to ¥12,000), and Luxury Shopping (up to ¥30,000) cashbacks, and using the Free Stay Gift and airport lounges several times a year, you can receive value far exceeding the annual fee.
Earning Points
The Platinum Card allows you to earn points efficiently with a base rate of 1 point and bonus point programs:
| Earn Rate | Spending Category |
|---|---|
| 3% | 3x points on foreign currency purchases when enrolled in the overseas bonus point program |
| 2% | 2x points on prepaid hotel and car rental bookings through American Express Travel Online |
| 1% | 1x points on all other purchases |
Redeeming Points
This card comes with complimentary Membership Rewards Plus enrollment, allowing you to efficiently earn and use points. Accumulated points can be used in the following ways:
- Transfer to airline miles (ANA Mileage Club, JAL Mileage Bank, etc.)
- Transfer to hotel points (Marriott Bonvoy, Hilton Honors, etc.)
- Pay for purchases at American Express Travel Online
- Apply toward card charges
Our Verdict
The American Express Platinum Card offers exceptional value for cardmembers who can maximize its benefits. While the ¥165,000 annual fee is significant, the comprehensive benefits package makes it worthwhile for frequent travelers and restaurant-goers.
In particular, premium benefits such as the Global Lounge Collection, free hotel stays, various cashbacks, and 24/7 Platinum Concierge Desk make this card extremely attractive for those living a luxury lifestyle. Considering the current sign up bonus, this card is definitely worth considering.