I often get asked about why I have such an expensive credit card when I’m discussing reward credit cards with friends, and let’s be honest, a credit card with an annual fee of $695 is pretty hefty. That’s $58 each month. I could probably take that $695 and pay for a flight to a warm beach somewhere. However, I’ve now had it in my wallet for 2 years now and I personally like to reevaluate my reward credit cards once a year to make sure I’m getting the most value out of them. I should note that as my company uses Amex corporate cards…they give employees a perk where I get $150 off the annual fee, so that does take the sting out of it. Anyways; here’s my take on my experience 2 years in and why I plan to keep it for another year.

It helped me achieve my BHAG

A BHAG is a big, hairy, audacious goal and I like them because they aren’t just any regular sort of a goal, it’s a lofty one to achieve. Mrs. Money and I really wanted to go to Italy for our 10 year anniversary (which was this past July) and we really wanted to go business or first class. To make this goal even more audacious, I had seen from following my favorite points bloggers that Emirates had a flight from New York to Milan using their A380 – the double decker plan. Emirates is known as being one of the most luxurious airlines out there, and their business/first class with lay flat seats, the shower, the onboard bar was just a dream. We honed in and clearly defined our BHAG and started figuring out how to make it happen. I found that Emirates ran flights round trip on business class for about 140,000 Emirates miles. One of the big reasons I got this card was to hit the 100,000 point signup bonus. Ultimately we were able to take this trip in 2023 and I would call it ‘the trip of a lifetime’ but I hope to have another (or more) trips just like it and don’t want to limit myself!

Moving forward

Now that I’ve hit my BHAG, the question now becomes why am I keeping this card around? It’s definitely a good question as the card doesn’t really have that great of an earning schedule – 5x points on flights (which I don’t take THAT many of) and 1x on everything else. There are plenty of other cards in my wallet that earn higher than that. The perks are great but Delta has made some big changes starting in 2024 and 2025 that I’m still figuring out how I feel about them. Let’s dive into the main perks I take advantage of and those that I didn’t as much.

The Delta paradigm shift

I’ve been a travel enthusiast for several years now, having chased airline and hotel status, having taken lots of amazing flights, broken up with Delta, gotten back together with Delta and overall had a ton of fun playing the miles/points game.

Historically Delta awarded status a long time ago based on MQMs – the miles you actually travelled, then they added in a dollar requirement – MQDs – (Medallion is the M in both) and now they’ve removed the miles and it’s all about the dollars. Delta loyalists bemoan that fact that Delta basically just cares about them for their money, which to be fair I suppose, Delta is a business and that is their main focus. They are essentially making it so the status tiers (Silver – Gold – Platinum – Diamond) are out of reach unless you are a consultant that travels weekly, OR more likely – a person that puts a TON of spend on their Delta branded credit card (and only the high tiers at that). I personally had somewhat given up on status, and TBH didn’t find it all that helpful – I wasn’t getting tons of upgrades which really to me is a big reason why you go after status. Then I read this article which said that Delta SOLD 74% of their first class seats, meaning only 26% of first class seats were even up for grabs. I didn’t put a ton of spend on my delta credit card in 2023 and don’t think I’ll be shifting in 2024. You’d have to put basically ALL your spend on that one card to stand a status chance!

Ok off that soapbox and back to my Amex Platinum which a big reason I got it was for the Delta Skyclubs. I viewed it as a little bit of a travel hack – I came to terms with not getting status with Delta but having Skyclub access before my flight kind of helped! It was nice to have a quiet place to relax and grab a bite or a drink or snack while waiting to board. I had unlimited visits to Skyclubs – assuming I was flying Delta.

BUT – as part of the changes – Delta announced they were CAPPING Skyclub visits for Amex Platinum holders at 6. 6!!!! I was furious. That was a huge slap in the face. “I’ll cancel” – I told myself. The backlash was pretty quick and loud – and Delta backtracked some of their changes. For me and what I care about – they increased the 6 visits to 10. I believe we’ll still be able to use the $200 flight credit towards a Skyclub visit, so perhaps it’s more like 14 visits. Ok that feels a bit more reasonable. And these changes don’t go into effect until 2025 so I have all of 2024 to still enjoy the Skyclub every time I fly.

Perks I enjoyed

Sky Club access – As noted in my previous vent – is a major reason I hold the Amex Platinum and I enjoyed unlimited visits in 2023. I will continue to do so in 2024 but I’ll probably threaten to cancel in 2025 with the reduced visits (capped at 10) – we’ll see!

Other lounge access – During my travels this year I did benefit from the Amex Global lounge collection – Priority Pass and the Centurion lounge when there was not a Skyclub present. Madrid Spain had a cool lounge with an outdoor terrace!

$200 Fine Hotels and Resorts credit – this is a perk that I’ve been surprised with how much I enjoy using it. Amex has a program for more upscale hotels that come with all sorts of little perks here and there (like early arrival, late checkout, maybe a room upgrade, a welcome gift and sometimes an on-prem credit). We used this during our Italy trip in NYC actually – we had to spend the night after our Emirates flight (queue the angelic music for how awesome it was) before heading back home. We stayed at a nice Hyatt in Manhattan. The room was $450 for the night so we got $200 off of that and then it came with a $100 voucher which we used for dinner (which was spent quickly in NYC!). It was a great stay!

$15 Monthly Uber Credits – This is always a perk where I’m like “well I only use it because I have it”…but it is nice to have and we order once a month. I did use it for actual uber rides a few times throughout the year – i.e. on the Italy trip in NYC. Then I used the rest for takeout which is always a nice treat.

Entertainment credit – the KiddoMoneyFinances love Disney and that is one of the eligible services for the $20/month credit. So logically we spend all $20 of it on Disney Plus (with Hulu). Easy enough!

$200 Airline Credit – I chose Delta as my airline (you can only choose 1) and I’m a bit surprised to find I didn’t use it all this year. I think in years past I’ve used it to bring a guest into the Skyclub (which is a nicer perk) and this year Mrs. Money and I didn’t take as many Delta flights – our big trip was on Emirates (once again queue the angelic music for how awesome it was).

Walmart Plus Membership – Walmart Plus is fine. We actually have been ordering groceries more from our local Kroger – which offers free pickup. TBH Walmart hasn’t been 100% reliable – it feels like out of every 3 order; 1 is late or doesn’t show up, 1 has several key things missing, and 1 is fine. Kroger has been much more reliable. However free delivery is nice and we use it periodically when we are more crunched for time. The hidden gem is how Walmart Plus gives you access to Paramount Plus although the kiddos are more into Disney Plus these days. The $0.10 off per gallon of gas at Exxon stations comes in handy periodically – especially when we are travelling!

$100 Saks credit – Mrs. Money enjoyed being able to buy something twice with a $50 credit!

Perks that were meh

Clear Membership – I live in Atlanta which as you may know is the world’s busiest airport. However I always say you don’t get to be the busiest without doing things efficiently – and security line although they may look bad, often move along quickly enough. For a while there, Clear was the fastest security line…but now it feels that EVERYONE has it and now TSA Pre-Check is just as fast. Also previously I could get Clear membership for myself and Mrs. Money Finance but they raised their prices and I didn’t think it was worth paying out of pocket for her. So now it’s just me, and it’s meh.

Soul Cycle / Equinox – I do Crossfit, which that rule is you must tell everyone that you do it, so I don’t have a need for this.

Why I’m keeping it another year

I’m kind of at the point where I’m like – am I jus pre-paying for benefits (Uber, Delta etc) that I may or may not actually use if I didn’t have this card? I’m not putting a ton of spend on it – I’m more focused on other cards and earning points there. But, the Skyclub in 2024 is still unlimited and I do really value that perk so along with the other perks I valued – I’m going to keep it another year!

Shameless referral link – $695 is a hefty fee but for the last 2 years I’ve found it worthwhile. If you are inspired to chase your own travel BHAG and want the Amex Platinum in your arsenal…I’d be remiss for not at least sending you my referral link!