American Express Platinum Charge: 2024 Year in Review

Every 12 months, AMEX Platinum Charge cardholders have to confront the annual “keep or cancel” question, which this year has hit an all-time-high of S$1,744 thanks to the GST hike on 1 January 2024.

For many people, this is the most they’ll ever pay for a credit card. And since no one gets an AMEX Platinum Charge for its miles-earning potential (unless perhaps you spend big at 10Xcelerator merchants), the only way the math works out is if you make full use of all the benefits on offer.

That’s why I perform an annual audit of my AMEX Platinum Charge each year to get a sense of how much I value I managed to get out of my card. I’d strongly encourage you to do the same, if you’re considering whether to renew!

Summary: AMEX Platinum Charge 2023/24

Below is a summary of my AMEX Platinum Charge usage for the 2023/24 membership year, which in my case runs from October to September.

My 2023/24 Membership Year
Perk	Value
Platinum Statement Credits	S$1,094
Comoclub C4 Vouchers	S$390
1-Night Hotel Stay	S$420
Dining Vouchers	S$250
Airport Lounge Access	S$450
Hilton Gold Status	S$300
2-night Frasers Hospitality Voucher	S$430
Love Dining & Chillax	S$800
Retention Offer (20K points)	S$188
Wine Vouchers	S$140
Total	S$4,462

Caveats

Before we go into the analysis, some caveats apply. 

Renewal vs first-time

This article is written from the perspective of a renewing AMEX Platinum Charge cardholder. 

A first-time cardholder would get even more value because of:

1. the welcome bonus
2. the ability to use two sets of Platinum Statement Credits in the first membership year

With regards to the welcome bonus, American Express is now running an offer that effectively discounts the first year’s annual fee by more than 50% with S$900 worth of statement credits and a Samsonite luggage (turning the S$1,744 question into a S$844 question, even if you don’t put any value on the luggage itself). 

AMEX Platinum Charge
Apply
	Offer 1	Offer 2
Pay S$1,744 Annual Fee	–	–
Spend S$8,000 (First 180 days)	88,000 MR points  + S$100 credits + Samsonite luggage	S$900 credits + Samsonite luggage
Base Points from S$8,000 (@ 2 pts/S$1.60)	10,000 MR points	10,000 MR points
Total Spend	S$8,000	S$8,000
Total Return	98,000 MR points + S$100 credits + Samsonite luggage	10,000 MR points + S$900 credits + Samsonite luggage

With regards to Platinum Statement Credits, the key thing to remember is that they’re issued by calendar year, not membership year. This means a new cardholder can enjoy two sets in their first membership year, enhancing their value significantly. 

For example, if a cardholder is approved in November 2024, he gets 1x S$200 local dining credit to use by 31 December 2024, and then on 1 January 2025, another 1x S$200 local dining credit to use by 31 December 2025. Using the second year’s credit has no impact on his ability to cancel his card the following November before the second year’s annual fee comes due, if he wishes to.

For more information, refer to the post below.

The AMEX Platinum Charge first-year sweet spot

AMEX Platinum Reserve benefits

Historically speaking, AMEX Platinum Charge cardholders enjoyed a perpetual fee waiver for the AMEX Platinum Reserve, which came with additional perks such as:

• A 1-night stay at selected Fraser Hospitality properties worldwide (reduced from 2 nights)
• S$100 Tower Club voucher (discontinued from 1 January 2024)
• 2x complimentary bottles of wine from Grand Cru (no purchase required)
• 1x complimentary bottle of wine from Napoleon (no purchase required)
• S$150/S$190 nett stays at Hotel Fort Canning, M Social, Rendezvous Hotel and Outpost Hotel under the Near Away staycation programme

However, the fee waiver no longer applies to anyone approved for an AMEX Platinum Charge from 1 November 2022 onwards. Those who were approved prior to this date will continue to enjoy the benefit so long as they hold the AMEX Platinum Charge. 

I’m part of the batch that was grandfathered in, but if you’re not, you’ll need to adjust your figures accordingly.

Value is subjective!

Finally, the most important caveat: valuation is inherently subjective, and what you get out of the AMEX Platinum Charge will depend on your individual preferences, travel patterns and lifestyle. For example, a teetotaller wouldn’t find much value in Chillax or the wine vouchers, and someone who always flies First or Business Class may not value a lounge membership.

The same goes for the rest of the vouchers and statement credits, where your valuation should take into account whether these are the kinds of places you’d normally be spending money at. And if not, then some sort of haircut is in order.

How much of a haircut should that be? Only you can say. Ultimately, I don’t know your lifestyle patterns and preferences, so I can’t speak to your particular situation. What I do know is that you shouldn’t take my figures wholesale. Make adjustments as needed!

tl;dr: The AMEX Platinum Charge is big money investment, and you should only be taking the plunge if you’re confident you can get a lot more out of it than you put in. 

Now, on to the main event…

Platinum Statement Credits: S$1,094

The annual Platinum Statement Credits are key to recovering the value of your annual fee, so much so I’ve written a separate guide covering each of these in full detail.

Guide: AMEX Platinum Charge annual S$1,354 statement credits

Airline credit: S$200

I maxed out the S$200 airline credit simply by using the AMEX Platinum Charge to pay for the taxes and surcharges on my KrisFlyer award tickets.

This comes with the added benefit of fairly comprehensive complimentary travel insurance which covers myself, the MileLioness and the MileCub, saving me from having to buy a separate policy to cover them.

Dining credit (local): S$200

I used last year’s S$200 local dining credit during what I call the “Basilico Bonanza”, when a  couple of well-timed AMEX Offers created a fantastic stacking opportunity at Basilico in the Conrad Orchard Singapore.

In short, cardholders could stack:

• A S$105 Conrad statement credit with a minimum spend of S$350
• A S$60 Hilton statement credit with a minimum spend of S$300
• 25% discount on F&B for Hilton Gold/Diamond members
• S$200 local dining credits 

That was sensational, to say the least, and I made some people very happy by treating them to the lunch buffet.

Dining credit (overseas): S$200

This year’s S$200 overseas dining credit was spent at Mido Omakase, a small omakase place located in Eight Thong Lo in Bangkok. The lunch set started from 2,900++ THB (~S$113++), so we only had to top up a little extra for two people.

The quality? Superb. I’d say it was as good as anything I’ve had in Tokyo, and I’d probably come back even without the dining credit. 

Entertainment credit: S$204

I’ve been spending the S$17/monthly entertainment on a Netflix subscription (which requires an additional top-up since I’m on the premium plan that costs S$25.98 a month).

Fashion credit: S$150

Every year I keep telling myself that this is the year I do something more interesting with my Fashion Credit, that I overhaul my wardrobe and get myself a snazzy pair of shoes or a stylish hat that makes my wife think I’m having an affair.

Every year I end up getting more Aesop. I get two bottles each half-year period (which cost about S$100 total), and add the code mrp10pmx to remove the shipping costs.

Don’t forget that NET-A-PORTER and MR PORTER are both on ShopBack, so you can earn extra cashback on your order too (though that may be affected if you use the free shipping promo code; I’m not sure).

Lifestyle credit: S$340

Since I have little interest in spa treatments or grooming, I always default to using my lifestyle credit with Grand Cru Wines. I managed to hit S$600 on the dot this year with this order.

However, the prices on the Platinum portal are sometimes (but not always) higher than the public website, so I think it’s prudent to take a 15% haircut on the value of this credit. 

Comoclub C4 membership: S$390

AMEX x COMO

AMEX Platinum Charge cardholders enjoy a complimentary 12-month Comoclub C5 membership, bypassing the usual S$50,000 minimum spending requirement. 

This comes with various discounts throughout the Como Group, but the real highlight are the birthday perks:

• S$200 shopping vouchers at Club21 Singapore, Kids21 Singapore and Dover Street Market Singapore
• S$40 dining voucher at COMO Dempsey
• S$20 grocery voucher for SuperNature Singapore and glow cafe
• COMO Shambhala birthday gift
• DrHair deep cleansing scalp treatment
• Corkage waiver at COMO Dempsey

I didn’t spend enough to maintain the C5 membership, so I’ve dropped down to C4. But that’s still decent, because I get: 

• S$100 shopping vouchers at Club21 Singapore, Kids21 Singapore and Dover Street Market Singapore
• S$20 dining voucher at COMO Dempsey
• S$10 grocery voucher for SuperNature Singapore and glow cafe
• COMO Shambhala birthday gift
• DrHair deep cleansing scalp treatment

That’s S$130 worth of vouchers (all of which have no minimum spend), and since the benefit also applies to supplementary cardholders, I get a total of S$390 across three cards.

1-Night Hotel Stay: S$420

AMEX Platinum Charge members receive a voucher for a complimentary hotel night each year, currently valid for stays at the following properties: 

I redeemed this year’s voucher at the Mandarin Oriental Kuala Lumpur, which was a solid stay, all things considered. The hotel completed a renovation in 2018, so it’s not as run down as some of the other Mandarin Orientals I’ve seen.

Breakfast was included, and a similar rate for the dates of my stay would have cost me S$420. 

Platinum dining vouchers: S$250

The AMEX Platinum Charge includes numerous dining vouchers in its membership pack, but this year I ignored all but two.

• S$100 Tower Club voucher (+S$100 more from AMEX Platinum Reserve- remember, this has since been discontinued)
• 30% off Wan Hao restaurant

For the Tower Club vouchers, I normally take a 10% haircut because AMEX Platinum Charge and other affiliate members need to pay a 10% surcharge on orders.

However, because I find the food at Tower Club to be very mediocre, I used this year’s vouchers to buy wine instead. Tower Club has periodic wine sales where they get rid of excess inventory, and you can pop in (no reservation needed) to purchase what you like. The 10% surcharge does not apply to list prices, so I’m taking the full S$200 value here (the prices were generally the same or better than what I could find online). 

If you plan to do the same, be advised that Tower Club has a one voucher per unique card per day policy, so those with the AMEX Platinum Charge and AMEX Platinum Reserve vouchers should bring down both cards. Also, you’re limited to a maximum of one voucher per transaction, so you’ll need to pay for whatever exceeds S$100. 

Given that Wan Hao is already on Love Dining, does the 30% off voucher have any use? Three things to remember:

• Love Dining privileges don’t apply to drinks, while the 30% off voucher does
• Love Dining privileges don’t apply to the dim sum menu, while the 30% off voucher does
• Love Dining offers 50% off for parties of two, but the 30% off voucher is valid regardless of party size

Based on my bill, I got roughly S$50 worth of savings. 

As for the rest of the vouchers:

• S$100 Restaurant JAG voucher: I never got around to visiting JAG, and in any case the  cheapest menu, if you don’t want to go vegetarian, would cost S$210
• S$100 Wooloomoolooo voucher: This requires a minimum spend of S$250 and does not stack with Love Dining, and in any case I don’t feel the food quality warrants that kind of money
• 2x S$50 JAAN vouchers: I already gave JAAN a try a couple of years ago, and while it’s decent, I can think of a hundred other places that would give me as good or better a meal at the fraction of the price
• $50 Crossroads Buffet voucher: This requires a minimum spend of S$100, and makes no sense at all because you’d almost always save more with the Love Dining discount instead
• S$50 Mikuni voucher: I was looking forward to do the S$50 melon hack (where you order a single piece of musk melon that costs, you guessed it, S$50), but Mikuni has now changed its policy to disallow it
• 50% off Asian Market Cafe: Never crossed my mind to visit, and in any case, you don’t even need the voucher to enjoy the discount because it’s offered for free to DBS, OCBC and UOB cardholders

I’ll put it bluntly: the AMEX Platinum Charge’s dining vouchers have been steadily devalued over the years. Gone are the days where cardholders could look forward to S$200 of St. Regis dining vouchers, with no minimum spend and stackable with Love Dining. 

The dining vouchers now come with significant restrictions, and you’re likely to have to pay a significant amount out of pocket when using them (which I believe is the idea).

Airport lounge access: S$450

AMEX Platinum Charge cardholders receive access to the following lounges:

• Centurion Lounges (+2 guests)
• Delta Sky Clubs
• Lufthansa Lounges 
• International American Express Lounges (+2 guests)
• Priority Pass (+1 guest)
• Plaza Premium Lounges (+1 guests)

These benefits are equally applicable to all supplementary cardholders, although only the first supplementary cardholder will enjoy a Priority Pass membership. 

The main thing that has changed from previous years is that the number of guests for Plaza Premium Lounges has been reduced from two to one. 

I generally try to redeem Business Class tickets wherever possible, but there’s some trips where there’s no award space, or where it simply doesn’t make sense (e.g. Kuala Lumpur to Singapore). In those cases, I rely on my AMEX Platinum Charge for access.

Of all the lounges I visited, the highlight was the AMEX Centurion Lounge in Los Angeles, where I had one of my best-ever meals in an airport lounge. I know that reads like a punchline, but the Nancy Silverton curated menu featured a surprisingly decent pasta with roasted Brussel sprouts I’m still dreaming about. 

My travel frequency, and that of my two supplementary cardholders, increased significantly over the past year, so I’m ballparking the benefits slightly higher at S$150 per cardholder, or S$450 total.

Of course, the value here boils down to how frequently and in what cabins you fly, and how much you’d have spent on airport F&B otherwise.

Hilton Gold status: S$300

AMEX Platinum Charge members receive complimentary status with several programmes including Marriott Bonvoy and Radisson Rewards, but the truly useful one is Hilton Gold.

Hilton Gold means free breakfast, which can easily save S$100 or more per couple per day at high cost locations. It’s why I’ve been gravitating towards Hilton properties over the past 12 months: Conrad London St James, Hilton Tokyo, Roku Kyoto, Conrad Osaka, Hilton Milan, Conrad New York Midtown and Conrad New York Downtown to name a few.

Like I mentioned last year, I already hold Hilton Diamond status, so Gold offers no incremental benefit for me. However, my supplementary cardholders also enjoy Hilton Gold status, which I estimate to be worth about S$300, based on the cost of savings on breakfast on their stays. 

2-night Fraser Hospitality voucher: S$430

The AMEX Platinum Reserve comes with a 2-night Fraser Hospitality voucher, which can redeemed at more than 40 properties worldwide. 

I used my voucher at Capri by Fraser Barcelona, which was always going to be a step down coming from the impeccable Cotton House Hotel the night before, but was still much better than expected. The voucher booked into a studio deluxe room, which was spacious enough for us to do all our repacking. Some recent reviews cited issued with a sewage smell coming from the bathroom and ventilation system, and while I did catch a faint whiff of it here and there, we were largely spared.

A two night stay for the dates we were there would have cost S$430.

Unfortunately, any vouchers issued from 1 January 2024 onwards will be valid for just one night instead of two, so expect the value of this perk to be cut in next year’s article.

Love Dining & Chillax: S$800

American Express Love Dining isn’t an exclusive privilege of the AMEX Platinum Charge (it’s offered on the AMEX Platinum Credit Card and Reserve too), but it can help save a fair chunk on dining nonetheless.

Here’s the current list of participating restaurants and hotels.

Restaurants (27)
Alegria Atrium Restaurant Barossa Steak & Grill Cali Escape Restaurant Harry’s Jia He Grand Chinese Restaurant L’Angelus New La Nonna Lawry’s The Prime Rib Les Bouchons New Matera New Napoleon Food & Wine Bar	Peach Garden at OCBC Centre Quenino by Victor Liong New Sen of Japan Si Chuan Dou Hua at UOB Plaza Sky22 Spizza Tablescape New Tapas 24 New Verandah @ Rael’s Vineyard at HortPark Wooloomooloo Steakhouse Xin Cuisine Chinese Restaurant YAN New
T&Cs
Hotels (33)
Fairmont Singapore Asian Market Cafe Anti:dote Mikuni Prego The Eight Singapore Marriott Tang Plaza Crossroads Cafe Crossroads Buffet Lobby Lounge Wan Hao St Regis Singapore Astor Bar Brasserie Les Saveurs The Drawing Room Yan Ting Paradox Singapore Blue Potato Crossroads Bar* Ellenborough Market Cafe Pullman Singapore Hill Street Madison’s New MOGA New	Resorts World Sentosa CHIFA! Soi Social Swissotel The Stamford SKAI Bar* SKAI Restaurant The Stamford Brasserie CLOVE Kopi Tiam The Capitol Kempinski 15 Stamford New Lobby Lounge New The Bar at 15 Stamford  New The Fullerton Singapore Town Restaurant New The Robertson House Entrepot New W Singapore Kitchen Table SKIRT WooBar
T&Cs
*No Love Dining @ Hotels savings available; cardholders instead enjoy 20% off total bill

2024 was the year that Love Dining got rejuvenated, with 16 new joiners (including the short-lived Burger & Lobster- what a disaster that turned out to be!).

I was delighted to see Tapas24 join the programme, as I consider it to be one of the better Spanish places in Singapore (Binomio, Esquina and FOC are great too, but have price tags to match).

Elsewhere, 15 Stamford has rejoined Love Dining after a lengthy absence, and while Alvin Leung is no longer associated with the restaurant, it still serves up high quality cuisine that becomes excellent value at 50% off.

Les Bouchons is a solid option for steak frites, Entrepot serves up innovative East meets West cuisine, and protip: Paradox and Pullman offer 50% off the food bill on Mondays even for single diners!

So, me and my supplementary cardholders did a lot more Love Dining this year than the year before, and saved more than S$800.

Retention offer: S$188

When my annual fee is charged, I always make a point of calling up customer service to ask about a retention offer (you’ll need to do it after your annual fee has been billed to your statement; the CSO won’t be able to assist you before that). 

American Express usually offers cardholders bonus points upon renewal, but they’re not automatically awarded; if you don’t ask, you don’t get. This year, like previous years, I received 20,000 MR points (12,500 miles) for renewing. At 1.5 cents per mile, this is worth ~S$188. 

Bigger spenders have reported receiving up to 40,000 MR points (25,000 miles), so it’s really a YMMV situation.

Platinum wine vouchers: S$140

AMEX Platinum Charge cardholders get two complimentary wine  vouchers, with an additional five from the AMEX Platinum Reserve, redeemable at the following outlets:

From	Voucher	Conditions
AMEX Plat. Charge	2x vouchers for wine (or cake) at Fairmont Hotel & Swissotel The Stamford	At least 1 dine-in item, max 1 voucher per visit
AMEX Plat. Reserve	2x vouchers for wine (or cake) at Fairmont Hotel & Swissotel The Stamford	At least 1 dine-in item, max 1 voucher per visit
	2x vouchers for Grand Cru Wines	N/A
	1x voucher for Napoleon	N/A

The Grand Cru Wines and Napoleon vouchers are absolute no-brainers. No minimum spend is required; just show up and collect your bottles. Don’t feel bad, you’re not the first to do this, and you won’t be the last.

The Fairmont Hotel & Swissotel The Stamford vouchers require a minimum order of one dine-in item. I usually get around this by ordering a coffee or dessert and redeeming two wine vouchers each time.

Unfortunately, the rules were recently tightened, and now:

• You must order a main to utilise a voucher
• You can redeem a maximum of two vouchers per visit (example: if you visit Mikuni, you can redeem 1x S$50 voucher + 1x wine/cake voucher)

Fortunately, I managed to redeem my vouchers before the new rules came into play, but it’s certainly going to affect my valuation next year.

As for the quality of the wines, they’re not going to win any awards. Think of them as better used for daytime drinking or cooking.

Depending on available stock, you may receive any of the following:

• La Minga Sauvignon Blanc 2022
• Mâcon Uchizy 2015
• Triennes Merlot 2014
• L’Autantique Sauvignon 2020
• Karku Nocturno Sauvignon Blanc 2020
• Karku Nocturno Merlot 2020
• Famille Perrin Ventoux 2019

I use a S$20 value for each bottle, for a total of S$140. 

Other perks

I’ve not given a value to any of the perks below, but thought I’d mention them for completeness’ sake.

AMEX Fine Hotels & Resorts

AMEX Fine Hotels & Resorts

AMEX Platinum Charge members can book Fine Hotels & Resorts (FHR) rates at luxury hotels worldwide, which include perks such as:

• Room upgrade
• Daily breakfast for two
• US$100 hotel credit
• 12 p.m check-in (subject to availability)
• 4 p.m check-out (guaranteed)
• Complimentary Wi-Fi

FHR rates price the same as the hotel’s best flexible rate, and are eligible to earn hotel points and elite status credits. 

Guide: American Express Fine Hotels & Resorts programme

Over the past year I’ve booked FHR stays at the Crown Perth, Langham Hong Kong and Ritz-Carlton Perth, and on all occasions I’ve received at least a one-category upgrade, some very nice breakfasts, as well as the opportunity to try restaurants and spa treatments with the hotel credits.

A special mention for the Ritz-Carlton Perth, where I got upgraded to an amazing suite with killer views of the Elizabeth Quay waterfront. This 104 sqm room had acres of space for the MileCub to run around, and probably ranks among my best FHR upgrades.

However, I’m not including this in the valuation because you can book similar luxury agent rates through a free platform like HoteLux.

Spa vouchers

AMEX Platinum Charge members receive the following spa vouchers:

• S$100 credit at Aveda Spa (min. S$180 spend)
• S$100 credit at Spa Rael (min. S$180 spend)
• S$130 credit at The Ultimate Spa (min. S$180 spend)

I might have given these a token value back when the treatments were completely free, but now that they have minimum spends I just ignore them completely.

Complimentary travel insurance

Policy Wording

AMEX Platinum Charge cardholders receive complimentary travel insurance when they pay for air tickets (or taxes and surcharges on award tickets) with their card.

This is a fairly comprehensive policy, which includes: 

• S$1 million for death or total permanent disability
• S$1 million of medical expense coverage
• S$10,000 trip cancellation and postponement
• S$4,000 of emergency dental treatment
• S$1,500 for lost personal belongings
• S$400 for flight or baggage delays
• S$150 hospital cash allowance

However, it does not cover the loss of airline miles (e.g. you redeem a Spontaneous Escapes ticket and can’t travel because of illness), so that’s something to take note of.

Because I value miles and points coverage, I purchase a separate Singlife insurance plan and use that as my primary coverage.

Regional Golf Programme

Regional Golf Programme

AMEX Platinum Charge, Platinum Reserve and Platinum Credit Card members enjoy complimentary green fees when they bring along one paying guest on weekdays, and two paying guests on weekends under the Regional Golf Programme,

This features Orchid Country Club, Sembawang Country Club and Warren Golf & Country Club in Singapore, along with courses in Cambodia, Indonesia, Japan, Malaysia, Philippines, Thailand and Vietnam. 

I don’t golf, so I don’t assign this any value.

Great World Parking

Great World Parking

AMEX Platinum Charge cardholders enjoy complimentary all-day parking at Great World City on Fridays, Saturdays and Sundays. This is capped at 50 redemptions per day, so you’ll need to come early if you want to take advantage of this (redemptions start from 10 a.m).

I’ve used this perk a handful of times, but not enough for me to assign it any real value.

AMEX Experiences

AMEX Platinum Charge cardholders can sign up for events in partnership with various lifestyle and F&B merchants. These are available via the AMEX Experiences app on a first-come-first-serve basis, and over the past year I’ve managed to register for: SABON Next Generation Body Scrub, Montblanc Archive Roadshow, The Breitling Heritage Exhibition, Panerai Watches & Wonders, La Labo Scent Discovery Journey, Guerlain L’Art & La Matiere Fragrance Masterclass, Chopard Day of Happiness, and Moschino Spring Summer 2024. 

These events are all free to attend, and while I’m sure they’d appreciate it if you made a purchase, it’s not expected. You can generally expect light bites, champagne, and possibly a goody bag. 

It’s not something I’d assign a specific value to, but nice if you can find the time. 

Conclusion

Apply Here

There’s only space in my wallet for one “benefits card” (a card you hold not for earning miles, but rather lifestyle and travel perks), and since 2018 that’s been occupied by the AMEX Platinum Charge.

For sure, the card has lost some lustre from the early days, where the dining vouchers were less stingy, NOOK was available as a private working space, and there was Platinum af’FAIR to look forward to every year. But I still see a clear way of getting more out of my annual fee than I put in, and given my returns for the 2023/24 membership year, I’m happy to continue.

But at the risk of belabouring the point, value is subjective. The way you value the perks may be different from mine, so you’ll need to look at your travel and lifestyle patterns and decide whether the AMEX Platinum Charge is still a good fit, or whether a $120K card (with annual fees of around S$500-600) could work just as well for your needs.

What other AMEX Platinum Charge perks did you make use of?