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The Platinum Card® from American Express packs a lot of punch into its metal shell. That shouldn't come as much of a surprise, given that it's both the heaviest and most expensive of the publicly-available premium credit cards.

While the welcome bonus alone is worth more than $1,000 (based on TPG valuations) and the luxury perks — including travel credits, elite status and lounge access — can add several hundred dollars a year to its long-term value, most people considering the Amex Platinum will fixate on one number: the $550 annual fee.

It's easy to make the case that the Amex Platinum can pay for itself over time, but that doesn't necessarily mean it's right for you. So let's take a look at who should — and who shouldn't — get the Amex Platinum.

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