Key takeaways
- Active duty military members, their spouses and dependents are eligible to have the annual fee waived for many credit cards, including The Platinum Card® from American Express.
- The Platinum Card offers a variety of benefits that include airport lounge access, airline fee credit and Uber Cash.
- American Express also offers other travel credit cards that may be a great fit for military members.
Active military members and their families face many challenges, such as lengthy separation from loved ones and financial stress. To help navigate these challenges, the federal government enacted the Servicemembers Civil Relief Act (SCRA) and the Military Lending Act (MLA), both of which provide military personnel with benefits like interest rate caps and waived fees. Many businesses offer special benefits in line with these laws, plus some of their own.
Credit card companies like American Express are a great example. The Platinum Card® from American Express is one of thebest travel rewards cards on the market, loaded with premium benefits like airport lounge membership and elite status with select hotels. The card also comes with thousands of dollars worth of credits, including hotel and airline fee credits, Uber Cash and complimentary Walmart+ membership credit.
Because of how Amex adheres to the SCRA and the MLA, the Amex Platinum winds up being an excellent card for active duty military members and their families to take advantage of. Here are some questions to ask about the Amex Platinum, plus a list of the card’s benefits, to help you decide whether it’s the right card for you.
Is the American Express Platinum Card free for military members?
The American Express Platinum Card usually comes with a high $695 annual fee for the primary cardholder and $195 annual fee for additional cardholders. But that fee is waived for active military members, their spouses and child dependents. So if you’re on active duty, you can enjoy all the generous benefits this card has to offer for no annual fee.
This is true whether you choose to be a primary cardholder or anauthorized user on another person’s account. For example, an active duty service member could also become an authorized user on another person’s account for $0 per year, instead of the $195 per card that’s normally charged.
How do active duty military members get the Amex military fee waiver?
The fact that military members can avoid this fee is mostly due to 2003’s Servicemembers Civil Relief Act (SCRA) and the 2006’s Military Lending Act (MLA). These two acts provide important consumer protections and benefits to military members and their families, such as caps on the amount of interest they’re required to pay.
Benefits from SCRA generally apply to credit acquired prior to active duty, meaning that if a servicemember opened a credit card before joining the military, they can go to their issuer and request waivers or benefits under the SCRA once they become an active duty member.
MLA benefits, on the other hand, apply to credit acquired during active duty. No action is needed to qualify for MLA relief, but you must submit a request for SCRA relief online or by phone, fax or mail. Fortunately, American Express offers amilitary relief resource page on how both the SCRA and the MLA work.
While American Express is not required to waive fees for military applications due to either of these acts, they choose to go the extra mile to help military members save money while using their products.
Keep in mind: Not all issuers choose to waive these fees and instead stick more closely to the federal requirements. If you’re looking into other cards, make sure you understand how they manage MLA and SCRA benefits before you apply.
Does American Express waive annual fees for veterans?
While active duty military members can have their annual fee for American Express credit cards waived entirely, the same isn’t true for military veterans. Once you’re no longer active, the SCRA and MLA benefits come to an end — including waived fees for service members.
The annual fee for theAmexPlatinum Card may still be worth it for veterans, however. If you travel often and can take advantage of enough of the card’s credits, you can offset the annual fee while enjoying premium features.
What credit score do you need for the Amex Platinum card?
Like other premium travel credit cards, the Platinum Card requires very good or excellent credit. This typically means aFICO score of 740 or higher, although American Express does not advertise specific minimum credit score requirements.
Before applying,check your credit score. If you’re not eligible yet, the best ways to improve your credit include paying your bills early or on time and paying down debt to decrease your credit utilization ratio. You can also refrain from opening or closing new accounts until you’re ready to apply.
Benefits of the Amex Platinum
The Amex military fee waiver gives you access to popular Amex Platinum benefits without paying an annual fee. Those include:
Access to the Amex Membership Rewards program
Among the best perks is theAmerican Express Membership Rewards program, known for its value and flexibility. This program lets you earn points to book travel directly through the American Express Travel portal, but you can also transfer your points to an American Express transfer partner and book with them, which would typically get you the most value for your rewards.
You can also redeem points for gift cards, merchandise and statement credits, but these options typically come with a lowerredemption value.
Airport lounge access
The Platinum Card comes withPriority Pass Select membership that extends access to more than 1,500 airport lounges across over 140 countries. You can access several other lounge networks, including Delta Sky Clubs when you fly with Delta Air Lines and Amex Centurion Lounges. While individual airport lounges can be hit or miss in terms of the food, drink and relaxation potential, it’s an amazing deal to get this benefit for free.
$200 airline fee credits
You also get up to $200 in statement credits each calendar year toward airline incidental purchases, though these credits are only good for a single airline you select ahead of time. Also, you can’t use these credits for airfare — only for incidental fees charged to your card’s account, such as baggage fees or in-flight refreshments.
$200 hotel credit
You can get up to $200 in statement credits each calendar year when you book prepaid stays at places in the Fine Hotels + Resorts or The Hotel Collection network. These bookings must be made through the American Express Travel portal.
$200 in Uber credits
You get up to $200 in Uber Cash a year (Terms Apply), although these credits are doled out on a monthly basis — $15 for each month (except for December, when you get $20). These credits can help you save a considerable amount if you use Uber every month, but they do not roll over to the next month if you don’t use them.
Elite hotel status
The Amex Platinum gets you automatic Marriott Bonvoy Gold Elite Status and Hilton Honors Gold Status. This level of status may help you get free breakfast in some Hilton properties, whereas you’re more likely to benefit from a room upgrade with the Marriott Bonvoy program.
With either program, you’ll earn more points on paid stays due to your elite status. You’ll also have the ability to quickly climb the elite status ladder with paid stays since you’re getting a head start as a Gold member.
Statement credits for Global Entry, TSA PreCheck or Clear Plus
You can use your credit card to cover the cost of either aTSA PreCheck membership for up to $85 or Global Entry for up to $100. The statement credit for these memberships comes every 4 to 5 years, depending on your renewal schedule. Since Global Entry includes TSA PreCheck, however, this membership is easily the better deal.
You can also get up to $189 in statement credits per year to cover a Clear Plus membership. If you fly domestically often as opposed to internationally, Clear Plus could be a better deal than Global Entry.
5X points on most travel
Rack up 5X points on flights booked directly with airlines or through the Amex travel portal on up to $500,000 in spending per year, as well as prepaid hotels booked through the Amex travel portal. If you’re someone who frequently travels for work or leisure, being able to earn such a high rate for each purchase can help you quickly grow your rewards balance.
Other American Express military credit cards
While the Platinum Card is a popular choice for active duty military members and their families, otherAmerican Express credit cards may be more attractive. Depending on how you spend and like to redeem rewards, you might want to consider the following cards:
| Card | Rewards rate | Welcome bonus | Normal annual fee (waived for active duty military) |
|---|---|---|---|
| Delta SkyMiles® Reserve American Express Card |
| 60,000 bonus miles after you spend $5,000 in the first 6 months from account opening | $650 |
| Hilton Honors American Express Aspire Credit Card* |
| 150,000 points after spending $4,000 in purchases in the first 3 months from account opening | $450 |
| American Express® Gold Card |
| 60,000 Membership Rewards points after spending $6,000 in purchases within 6 months from account opening. Plus, 20% back in statement credits (for up to $100 back) on eligible purchases made at restaurants worldwide within the first 6 months from account opening (expires Nov. 6, 2024). | $325 |
| American Express® Green Card* |
| 40,000 Membership Rewards points when you spend $3,000 on purchases within 6 months from account opening | $150 |
| The Business Platinum Card® from American Express |
| 150,000 Membership Rewards points after you spend $20,000 within the first 3 months from account opening | $695 |
The bottom line
If you’re an active duty military member and can get an American Express credit card minus the annual fee, you might as well go for one of the most premium Amex cards available. Bankrate’s detailedPlatinum Card from American Express review can provide more information on the card’s rates and benefits before you sign up. Or, you can also check out our other top picks of credit cards for military members and compare them to the Amex Platinum using our card comparison tool.
*Information about the Hilton Honors American Express Aspire Card and American Express® Green Card has been collected independently by Bankrate. Card details have not been reviewed or approved by the card issuer.
