A platinum credit card is one of the most exclusive premium credit cards and promises a host of advantageous benefits. But is the high annual fee for these credit cards really worth it? In this guide, we compare the various platinum cards available in Germany and reveal which model offers the best value for money.
The best platinum credit cards compared
American Express Platinum Card
- Promotion: Up to 85.000 points welcome bonus
- 150 Euro in restaurant credit
- 200 Euro in travel credit
- 200 Euro in Sixt Ride credit
- Free lounge access with guest
- The best insurance package in Germany
easybank Platinum Double
- Promotion: 50 Euro starting credit
- Free cash withdrawals worldwide
- Free payments worldwide
- Extensive insurance coverage
- Free Platinum partner cards
Revolut Ultra
- Promotion: 20 Euro welcome bonus
- Earn 1 RevPoint for every Euro spent
- Unlimited lounge access included
- Free cash withdrawals and payments abroad
- Premium app-subscriptions worth over 1.000 Euro
American Express Business Platinum Card
- Promotion: 200.000 welcome bonus points
- 1.440 Euro credit with partners
- Free lounge access with guest
- Extended payment term of 58 days
- Upgrades, status, breakfast, and more at hotels
N26 Metal
- 16,90 Euro per Month
- Exclusive metal Mastercard debit card
- Free cash withdrawals abroad
- Smartphone insurance up to 2.000 Euro
As you can see from the models above, platinum credit cards often offer a range of attractive additional benefits – but the price for this type of card is often higher too. In this detailed guide, we explain why the high annual fee can often be worthwhile and which is the best platin credit card.
Inhaltsverzeichnis
- The best platinum credit cards compared
- What is a platinum credit card?
- What are the advantages of a platinum credit card?
- What should you look out for with platinum credit cards?
- What requirements must be met for a platinum credit card?
- How do you apply for a platinum credit card?
- When and for whom are Platinum credit cards suitable?
- Which platinum credit card is the best?
- Our expert conclusion on platinum credit cards
What is a platinum credit card?
Credit cards have become an indispensable part of everyday payments. There are many different types of credit cards available from a wide range of providers, so it’s easy to lose track of them all.
There are also many attractive free credit cards, but platinum credit cards in silver are also becoming increasingly popular. However, these usually come with significantly higher fees, which raises the question of why you should spend so much more money on a platinum card.
There are now many different types of credit cards that are best suited for different purposes in everyday payments. They can be classified into the following groups:
- Standard credit cards
- Gold credit cards
- Platinum credit cards
Standard credit cards are usually inexpensive and often offer no services beyond the usual payment functions. With these models, you should also be careful that the low annual fee is not offset by additional fees and that no further costs are incurred elsewhere if you use the card frequently. These usually take the form of additional fees for cash withdrawals or payments abroad.
Gold credit cards are generally somewhat more expensive and offer a good range of extras such as insurance. Due to the higher fee, consumers usually do not have to pay any additional fees for certain services such as cash withdrawals and payments in foreign currencies. Gold credit cards often also offer certain benefits such as insurance and bonus programs.
A platin credit card, on the other hand, differs from regular cards in a number of ways. For one thing, they are sometimes the most expensive credit cards on the market.
However, platinum cards are still popular because, in return for the high annual fee, they promise a number of benefits that are not included with a regular credit card.
You can generally expect the following benefits:
💰 High credit card limit
🛡️ Comprehensive insurance packages
🎁 Exclusive discounts and bonus programs
✈️ Access to airport lounges
🛎️ Preferred service
What are the advantages of a platinum credit card?
Although the annual fee may seem daunting at first glance, there are still numerous reasons why a platinum credit card can be incredibly lucrative. Premium cards are so popular with consumers for the following reasons.
High limit
Platin credit cards also offer high liquidity, which is usually incomparable to that of regular credit cards. This refers to the credit limit on the one hand, but also to the cash limit on the other.
Both are usually limited for credit cards and can be gradually increased after applying for the credit card. This is because the issuing bank checks the creditworthiness of consumers.
Since certain requirements must be met in order to apply for a platinum card, the credit limit for these cards is generally higher than for regular credit cards. This means that you can benefit from greater liquidity right from the start, which is particularly advantageous for larger investments. The cash limit is also higher, which can also be an advantage.
Comprehensive insurance
In most cases, a Platinum Card is also a credit card with insurance. This can be particularly useful when traveling, as Platinum Cards often offer more comprehensive coverage than Gold Cards.
It should be noted that the benefits of the insurance package correspond to the high fee. Ideally, the following types of insurance should be included:
- Travel cancellation insurance
- Travel health insurance
- Comprehensive rental car insurance
Which services are included in the price naturally depends on the individual credit card models. However, despite the initially high costs, the American Express® Platinum credit card offers one of the most comprehensive insurance packages in Germany.
American Express Platinum Card
- 200 Euro travel credit per year for flights, hotels and more
- 200 Euro SIXT Ride credit per year
- Up to 200 Euro discount & Priority benefits for Condor flight bookings
- Exclusive metal credit card
- Collect valuable points with each turnover
- Free platinum partner card with all benefits included
- Best insurance package in Germany
- Free lounge access with a guest at 1.550 lounges worldwide
- Upgrades, breakfast and more status benefits in hotels
Status levels and discounts
Premium credit cards such as platinum cards also allow you to benefit from certain privileges such as different status levels (for example, with Hilton Honors).
The advantages available naturally depend on the respective credit card provider, but you can save money on various car rentals and hotel chains, for example.
In some cases, this also includes free upgrades. Some platinum cards also offer fuel discounts, which also allows you to save money.
Some platin cards also grant you access to the lounges of various airline partners, as they include Priority Pass membership, allowing you to enjoy comfortable travel.
In addition to various travel discounts, which also offer you many advantages. One example is Amex Offers, where you can save a lot with selected partners.
Some credit cards also have their own bonus programs. These are particularly worthwhile if used wisely and can justify the high annual fee.
Collect miles or points
Some of the popular platinum cards in Germany also offer the opportunity to collect miles or points with every payment through attractive bonus programs.
These can then be exchanged for valuable rewards. One example of this is the Membership Rewards Program® from American Express.
Every point you earn with an Amex payment can be converted into miles. This brings you closer to a first or business class flight, as attractive bonuses as part of promotions give you advantages when collecting points.
Exclusive services
Since a platinum credit card is a premium product, you can also expect to receive privileged service. Part of this is the concierge service, which is included with some credit cards.
This personal assistance is available exclusively to customers and provides support with various activities. These include bookings for travel, hotels, and even exclusive events.
What should you look out for with platinum credit cards?
Although the advantages of a platinum credit card listed above sound very promising at first glance, it is also important to bear in mind that there are some disadvantages to consider.
In any case, you should carefully study the terms and conditions of a premium credit card and compare them with your own financial behavior in order to avoid high costs as much as possible.
As with regular credit cards, there are a few things to consider before applying for a platinum card. First, it is obviously not a credit card without an annual fee, as platinum cards often come with attractive additional benefits.
However, you should make sure that the high annual fee is justified, i.e., that the fee pays off in terms of savings.
High annual fee
Of course, the first disadvantage of platinum credit cards is the high annual fee. This is usually between $115 and $850, making it an important factor to consider.
It is best to think about what requirements the respective platinum credit card needs to meet and whether the annual fee is ultimately worth it.
If you hardly ever use certain privileges, such as the insurance included or the discounts and bonus programs, it may be worth considering a different model.
It is also important to bear in mind that the annual fee is not the only charge that may apply to a platin credit card.
Costs for cash withdrawals and foreign payments
Despite the high annual fee, you should not automatically assume that there will be no additional costs with a platinum credit card.
These also apply to the most expensive models, for example when it comes to cash withdrawals or payments with foreign currency fees.
This is particularly unfavorable if you travel abroad a lot and therefore have to make many payments or cash withdrawals in foreign currencies.
However, this is no reason to completely forego a platinum credit card—it is sometimes advisable to have another free credit card in your wallet to complement the platinum card in this regard.
Special requirements
As already mentioned several times, these are premium credit cards, so Platinum credit cards also have higher application requirements. This is mainly due to the high limit for cash withdrawals, as the respective provider must check whether applicants are creditworthy. Accordingly, you should take a closer look at the requirements before applying.
What requirements must be met for a platinum credit card?
Of course, applying for a credit card is always subject to certain requirements. Even with a Platinum Card, certain things must be presented to prove the applicant’s creditworthiness.
While prepaid cards are generally easier to obtain and are therefore ideal as credit cards for students or cards for young people and children, the hurdle to obtaining a platinum credit card is somewhat higher. The requirements usually vary depending on the credit card provider.
In most cases, however, the following information is required:
- Credit report (SCHUFA)
- Secure income (minimum income, if applicable)
- Minimum card turnover
- Previous use of a credit card with the bank, if applicable
Unlike credit cards without a Schufa credit check, a platinum card usually requires proof of creditworthiness—and many other specific requirements. However, this should not deter you from applying for a platin credit card, as these requirements vary depending on the provider, as already mentioned.
How do you apply for a platinum credit card?
Once you have researched the requirements for applying for your chosen platinum card, you can start the application process. The first step is to decide on a suitable provider and the right model.
You can then start the credit card application on the provider’s website by filling out all the information in the form and verifying your identity either by mail or by video identification. The latter option is significantly faster, meaning that the credit card can arrive in your mailbox sooner.
You will need the following for the video identification process:
- A working camera
- A working microphone
- Valid identification document (passport or ID card)
Of course, applying for an expensive Platinum Card is only worthwhile if you can make sufficient use of all the benefits.
When and for whom are Platinum credit cards suitable?
Basically, a Platinum credit card can be worthwhile for anyone who wants to take advantage of the additional services. A platin card can be particularly advantageous for frequent travelers, as many benefits such as insurance are already included, providing good protection.
Booking separate travel insurance can quickly become expensive, among other things. In addition, frequent travelers can use platin credit cards to collect lots of miles both in everyday life and on their travels.
Those who want to enjoy certain privileges such as lounge access, travel discounts, and various status levels will also find these included in the benefits of premium credit cards.
But a platinum credit card is not only attractive as a travel credit card. Many platin cards also come with at least one partner card, making them a worthwhile option for families as well.
Freelancers and self-employed individuals also have the opportunity to collect valuable miles and points through business expenses. The attractive liquidity is also particularly worthwhile for this group for investments. However, it is also worth taking a look at the selection of business credit cards.
American Express Business Platinum Card
- 200 Euro travel credit per year for flights, hotels, and more
- 200 Euro Dell Technologies credit per year
- Up to 440 Euro Sixt mobility credit (Ride & Plus) per year
- Up to €600 co-working and phone service credit per year
- Digital invoice management: GetMyInvoices membership
- Earn valuable Membership Rewards points with every euro spent
- Up to 99 free business supplementary cards included
- Supplementary card for personal expenses included
- Additional liquidity with up to 58 days delayed billing
- Comprehensive insurance package
- Free lounge access for up to 4 people in 1,550 lounges worldwide
- Upgrades, breakfast, and other status benefits in hotels
Which platinum credit card is the best?
If you decide to get a platinum credit card, there are a few models to choose from in Germany. However, some models are more suitable than others, partly because of the services they offer.
American Express Platinum Card
- Promotion: Up to 85.000 points welcome bonus
- 150 Euro in restaurant credit
- 200 Euro in travel credit
- 200 Euro in Sixt Ride credit
- Free lounge access with guest
- The best insurance package in Germany
easybank Platinum Double
- Promotion: 50 Euro starting credit
- Free cash withdrawals worldwide
- Free payments worldwide
- Extensive insurance coverage
- Free Platinum partner cards
Revolut Ultra
- Promotion: 20 Euro welcome bonus
- Earn 1 RevPoint for every Euro spent
- Unlimited lounge access included
- Free cash withdrawals and payments abroad
- Premium app-subscriptions worth over 1.000 Euro
American Express Business Platinum Card
- Promotion: 200.000 welcome bonus points
- 1.440 Euro credit with partners
- Free lounge access with guest
- Extended payment term of 58 days
- Upgrades, status, breakfast, and more at hotels
N26 Metal
- 16,90 Euro per Month
- Exclusive metal Mastercard debit card
- Free cash withdrawals abroad
- Smartphone insurance up to 2.000 Euro
However, one other card stands out in particular: the American Express Platinum Card. This model offers a host of attractive options for redeeming valuable miles and points through the Membership Rewards program. Even though the annual fee is relatively high, the credit card is particularly worthwhile when used strategically. Travel insurance can quickly become expensive when booked separately, and the Platinum Card has by far the most comprehensive insurance package for a credit card in Austria and Germany.
American Express Platinum Card
- 200 Euro travel credit per year for flights, hotels and more
- 200 Euro SIXT Ride credit per year
- Up to 200 Euro discount & Priority benefits for Condor flight bookings
- Exclusive metal credit card
- Collect valuable points with each turnover
- Free platinum partner card with all benefits included
- Best insurance package in Germany
- Free lounge access with a guest at 1.550 lounges worldwide
- Upgrades, breakfast and more status benefits in hotels
One of the more affordable platinum credit cards with a fee of just under €100 is the easybank Platinum Double (formerly Barclays). This model is particularly advantageous as a credit card abroad, as you get both a Mastercard and a Visa credit card in one, meaning you have even less to worry about in terms of acceptance. You can also withdraw money and make payments abroad free of charge, which is worthwhile in combination with travel insurance.
easybank Platinum Double
former Barclays Platinum Double
- Free cash withdrawals worldwide
- Free transactions worldwide
- Free platinum partner card
- Travel cancellation insurance
- Worldwide health insurance
- Rental car insurance
Haven’t found the right credit card yet? Then check out our reisetopia financial picks:
💳 reisetopia’s financial picks April – find the best credit card for your needs:
Our expert conclusion on platinum credit cards
Although platinum credit cards are among the most expensive products on the market, they also promise by far the most benefits. Comprehensive insurance, status benefits, discounts, and a high credit limit are just some of the advantages included in the price.
However, it should also be noted that the benefits of such a platinum card are subject to certain conditions. In any case, a platinum credit card can be worthwhile if you make proper use of the additional services it offers.
American Express Platinum Card
- Promotion: Up to 85.000 points welcome bonus
- 150 Euro in restaurant credit
- 200 Euro in travel credit
- 200 Euro in Sixt Ride credit
- Free lounge access with guest
- The best insurance package in Germany
easybank Platinum Double
- Promotion: 50 Euro starting credit
- Free cash withdrawals worldwide
- Free payments worldwide
- Extensive insurance coverage
- Free Platinum partner cards
Revolut Ultra
- Promotion: 20 Euro welcome bonus
- Earn 1 RevPoint for every Euro spent
- Unlimited lounge access included
- Free cash withdrawals and payments abroad
- Premium app-subscriptions worth over 1.000 Euro
American Express Business Platinum Card
- Promotion: 200.000 welcome bonus points
- 1.440 Euro credit with partners
- Free lounge access with guest
- Extended payment term of 58 days
- Upgrades, status, breakfast, and more at hotels
N26 Metal
- 16,90 Euro per Month
- Exclusive metal Mastercard debit card
- Free cash withdrawals abroad
- Smartphone insurance up to 2.000 Euro
