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American Express Platinum Credit card Review 2023

Nedbank BBEEE Status 2023

The American Express Platinum Credit Card is one of South Africa’s most prestigious credit cards. The credit card is ideal for anyone looking for travel and lifestyle benefits in one credit card. A membership rewards program subscription provides discounts and rewards.

The American Express Platinum Credit Card comes with a free rewards membership link. Rewards program members receive discounts on travel and entertainment. Travel discounts are the most valuable benefits that credit card holders can obtain.

American Express has partnered with numerous services to ensure that Platinum credit card holders travel affordably and in style. When flying, there are complimentary cabin upgrades, as well as hotel upgrades. Credit card holders can earn discounts on car rentals, airline tickets, and other purchases.

In South Africa, the American Express Platinum Credit Card is unique. The features and fees of the American Express Platinum Credit Card are detailed below.

American Express Platinum Credit card summary 

Individuals earning R62,500.00 or more per month are eligible for the American Express Platinum Credit Card. The monthly service fee for the credit card is R490. Credit card holders are required to make a monthly minimum repayment of 5% of the credit card’s outstanding balance.

American Express Platinum Credit Card offers up to 55 days of interest-free credit. A one-time initiation fee of R180.00 is required when opening the credit card. The credit card also includes free enrollment in the rewards program.

Credit card holders can earn points and receive discounts through the rewards program. These discounts and rewards, as well as the other benefits, are detailed below:

Discounts and rewards benefits of the American Express Platinum Credit card 

  • When you apply for a credit card and spend R10,000.00 in the first three months, you will receive 30 000 membership rewards points.
  • Comes with automatic platinum status with Tsogo Sun for discounts on movies, dining, and lodging.
  • When you use your platinum card to pay for Netflix, Amazon Prime, Spotify, Showmax, or Audible, you will receive 3 months of free streaming.
  • Comes with one free access to Hole19’s premium4 features.
  • Amex discounts for Foodies dining program. Credit card holders can save up to 20% at 30 high-end restaurants.

Travel benefits of the American Express Platinum Credit card 

  • Access to the local Bidvest Premier lounges is unlimited.
  • Access to over 1200 lounges in 400 cities worldwide.
  • Members of the American Express Platinum Credit Card have exclusive access to the Centurion Lounge.
  • FastTrack VIP meet and greet services provide worldwide and domestic upgrades to your airport experience.
  • FastTrack VIP Airport’s meet and greet service is available at a 20% discount.
  • When booking in business class with Etihad Airlines, you will receive a complimentary upgrade to a first-class cabin as well as a 15% discount.
  • Emirates offers discounts of up to 10% and Qatar Airways offers discounts of up to 20% when purchasing air tickets with the credit card.
  • Concierge service is available.
  • Avis offers worldwide car rental discounts.

Insurance benefits of the American Express Platinum Credit card 

American Express Platinum Credit card fees 2023

Fee descriptionAmount
Monthly credit facility service feeR32.00
Primary card freeR458.00
Additional card feeFree
Once off initiation feeR180.00
Monthly Loyalty linkage feeFree
Once off enrolment feeFree
Withdrawal at Nedbank ATMR2.50 per R100.00 or part thereof
Cash withdrawal at SASWITCH ATM R12.00 + R2.50 per R100.00 or part thereof 
Over the counter cash withdrawal feeR100.00 + R2.50 per R100.00 or part thereof
Overseas cash withdrawal feeR60.00 +R2.5 per R100.00 or part thereof 
International currency conversion fee 2%
Cash deposit at a branchR100.00 + R2.50 per R100.00 or part thereof 
Cash deposit at an ATMR1.50 per R100.00 or part thereof
Dishonored payment feeR35.00
Late payment fee Free
Incorrectly disputed transaction localR165.00
Incorrect disputed transaction foreignR200.00 
Tracing Up to R410.00
Balance enquiry at a branch R22.00
Enquiry at a Nedbank ATM Free
Enquiry at a SASWITCH ATMR10.00
Lost card replacement feeFree
Face to face card delivery Free
Same day card replacement R450.00
POS balance enquiry R2.00
Counter statement R40.00

Advantages of the Credit card 

  • There is complimentary travel insurance.
  • Airline ticket discounts are available when booking with Etihad, Qatar Airways, or Fly Emirates.
  • There are hotel discounts available.
  • There is no charge for card replacement or delivery.
  • Card swipes are free of charge.
  • The membership program is available for free.
  • Free use of Nedbank’s digital platforms.
  • Airport lounge access.
  • Free concierge service.

Disadvantages of the Credit card 

  • Credit card has a very high monthly service fee when compared to other credit cards in South Africa. 

Requirements of the Credit card 

  • Must at least earn R62,500.00 per month before tax. 
  • Must be over the age of 18 at the time of application. 
  • Have a valid South African ID book or Smart card or a passport and a valid permit if you are a foreign national. 
  • Must have a healthy credit score at the time of application. 
  • Provide proof of residence that is not older than 3 months at the time of application. 
  • Payslips for the past 3 months or stamped bank statements for the past 3 months. 

Conclusion 

The American Express Platinum Credit Card is one of the best credit cards in South Africa, with some of the best travel benefits available. The  Credit Card is one of the best options in the country for frequent travelers. However, due to the high cost of maintaining the credit card, it may be unsuitable for someone who does not travel at all.

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