So you want a credit card that sets off metal detectors… or maybe a card that offers more benefits than (just about) any other.
In either case, you want the AMEX Platinum card.
This high-end card usually has a $695 annual fee and a lot of people pay that for all the sweet, sweet bennies that come with it. Things like premium travel perks, elite status and annual statement credits. But, as an active duty servicemember, you (and your spouse) can get all of that without paying anything. The benefits that millions of people pay hundreds of dollars for are yours absolutely free all thanks to the military lending act.
Right now, (Jan 2025) the best sign up bonus is 80,000 points after spending $8,000 in the first 6 months. Ask around your shop, wardroom, team room, etc. to see if anyone has a referral link. Signing up through a referral link makes sure that you are getting the best bonus currently on offer and it helps out your brother/sister in arms. Pro tip: if you’re married, congrats, you have a “player two” in the game of credit card points. Your spouse also qualifies for MLA benefits and also gets his or her own credit card account completely free. Sign up first then refer your spouse (or vice versa). That way you both get the sign up bonus and one of you gets the referral points, thus triple dipping.
You’ll need a credit score of 670+ to qualify for the card. We’ll have more to say about building credit in future posts if your score needs some work. And keep in mind, this card still has a ~25% APR so this card is to be paid off every month IN FULL. Remember the golden rule: never, ever carry debt on a credit card.
The bennies
Here are some of the things that your waived annual fee buys you:
| Annual Benefit | Details |
| AMEX lounges | Oh the lounges… More on that below. |
| $100 Saks Fifth Avenue credit | $50 statement credit semi-annually. Most of the stuff is pretty expensive but you can often find good deals on cosmetics and appliances. |
| $155 Walmart+ credit | $12.95 Walmart+ monthly fee reimbursed when you pay with your Platinum card |
| $199 Clear credit | This is like TSA Precheck on steroids. Gets you to your gate faster. |
| $200 Uber Cash | $15/month & $35 in December. Can be used for both Uber & UberEats. Don’t be lazy – order pickup and make your money go further. |
| $200 hotel credit | Statement credit for stays at Fine Hotel & Resorts or Hotel Collection properties that you book pre-paid through AMEX travel. FHR are very nice hotels and come with amazing benefits when you book through AMEX. |
| $200 airline credit | Covers incidental fees like checked bags or seat selection on your pre-selected airline. |
| $240 digital entertainment credit | $20/month statement credit for Disney+, Hulu, ESPN+, Peacock or New York Times when you pay with this card. |
| $300 Equinox credit | Equinox is a very nice gym but, honestly, this is probably not the most useful benefit. |
| Marriott Bonvoy Gold & Hilton Honors Gold status | Decent mid tier status, better than having nothing. |
| Travel, lost luggage, and rental car insurance | No brainer to use your Platinum card when renting a car or booking travel. Not only is it 5x the points but you are also protected. |
Basically a $1000/yr raise
We’re talking about goodies worth roughly $1200 each year. Admittedly, some benefits are a little complicated to use or applied incrementally but remember – this card costs you nothing thanks to American Express’s generous interpretation of the Military lending Act. Anything you wind up using is gravy.
You do have to keep on top of things to get the most out of your – again – $0 investment. Annual credits and terms and conditions are constantly changing. Ask me how I know. (I tried to walk into the Delta lounge with my lowest class economy ticket.) But you can easily check the status of used benefits on the AMEX site. And AMEX is known for top notch customer service for premium cardholders so their chat feature is my first stop any time I have a benefits questions. You also have access to platinum concierge. It gets mixed reviews but it’s worth trying to get last minute or sold out tickets, reservations, or questions about where to go in a pinch.
A little nicer than the USO
A luxurious lifestyle isn’t typically what you think of with the military life, but here is one of the exceptions. No doubt the AMEX platinum is responsible for boosting retention. With the platty, you have access to some of the nicest airport lounges there are; both AMEX centurion lounges and priority passes 1,300+ lounges and American Express partner lounges.
You can get free food and booze and even spa treatments (if you’re into that sort of thing). They are nice enough that you’ll want to get to the airport as early as your dad recommends.
