The American Express Platinum Card is widely regarded as one of the most valuable premium travel credit cards, offering an array of luxury benefits, travel rewards, and exclusive perks. While its high annual fee of $695 may seem steep, active-duty U.S. military personnel are eligible for a complete waiver under federal protections.
Service members can take advantage of fee waivers, exclusive travel benefits, and rewards, thanks to protections offered under the Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA), which make the card an exceptional financial tool for those in active service, according to CNBC Select.
SCRA and MLA: Financial Protections for Military Personnel
The SCRA and MLA provide financial relief to active-duty service members, ensuring they are not burdened by excessive fees and high-interest rates. The SCRA applies to financial obligations incurred before active duty, limiting interest rates to 6% and offering certain fee waivers.
The MLA, on the other hand, protects military personnel from predatory lending practices and applies to financial commitments made during active service. American Express is one of the most accommodating issuers regarding these regulations.
It waives annual fees for eligible service members, including active-duty reservists, allowing them to access premium card benefits without additional costs. This policy applies to the Platinum Card, as well as other Amex cards with significant rewards and perks.
Key Benefits of the American Express Platinum Card
The American Express Platinum Card is designed for frequent travellers, offering a suite of benefits that can provide over $1,500 in value annually. Among its most notable features are:
- $200 Airline Fee Credit – Covers incidental airline expenses such as baggage fees.
- $200 Hotel Credit – Available for prepaid stays at Fine Hotels + Resorts® and The Hotel Collection (minimum two-night stay required).
- $200 in Uber Cash – Monthly credits applicable to Uber rides and Uber Eats.
- $240 Digital Entertainment Credit – Covers streaming services with participating providers.
- $199 CLEAR® Plus Credit – Helps expedite airport security processes.
- $100 Saks Fifth Avenue Credit – Split into $50 biannual credits for luxury shopping.
- Global Entry or TSA PreCheck Credit – Covers application fees for enhanced travel clearance.
Additionally, the card provides airport lounge access, hotel elite status, and extensive travel and purchase protections, making it particularly valuable for military personnel who travel frequently.
Other Military-Friendly Credit Cards to Consider
While the Amex Platinum Card is a top choice for service members, other cards also offer attractive military benefits. The American Express Gold Card, which has an annual fee of $325 (also waived for eligible military members), is a strong alternative for food and dining rewards. It offers:
- 4X Membership Rewards® points on dining at restaurants worldwide.
- 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 in purchases per year).
- Up to $120 in annual dining credits at select restaurants.
- Up to $120 in Uber Cash annually for Uber rides or Uber Eats.
Chase also provides military benefits on select cards, such as the Chase Sapphire Reserve®, which waives its $550 annual fee for service members and includes an annual $300 travel credit, Priority Pass lounge access, and extensive travel protections.
Maximising Military Benefits with Credit Cards
For military personnel, leveraging the SCRA and MLA benefits on premium credit cards can result in significant savings and exclusive perks. While annual fees on luxury cards are typically a deterrent, military waivers make these high-value cards accessible at no cost.
Before applying, service members should contact card issuers directly to confirm eligibility and ensure that benefits are correctly applied.
