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In many ways, The Platinum Card® from American Express still sits apart from other premium travel rewards cards. It's a solid choice, offering excellent travel benefits, great travel insurance coverage, and a plethora of credits worth over $1,500 if you can maximize them all. However, the eye-watering $695 annual fee (Rates & Fees) can be difficult to justify, at least at first glance.
The card isn't without its drawbacks, however. Although the card offers numerous benefits and credits, these can be difficult to use. Many feel that the way the credits are structured purposefully make them harder to maximize.
We'll weigh the pros and cons of the Amex Platinum Card up front. Then, we'll dive into how you can get value from the Amex Platinum‘s travel benefits, annual credits, and welcome offer. Afterward, you can decide whether it's the right fit for your wallet.
- You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount - all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
- Enjoy the benefits of the Global Lounge Collection, with over $500 of annual value if you visit Centurion Lounges and each of our partner lounges including Delta Sky Club® lounges when flying an eligible Delta flight (subject to visit limitations) , select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges, and enroll in Priority Pass Select. See terms.
- A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart. Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive one statement credit for up to $12.95 (plus applicable taxes. Plus Ups not eligible) each month. Free Shipping excludes most Marketplace items, freight & certain location surcharges. Paramount+ Essential plan only, separate registration required.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- $200 Uber Cash: Platinum Card® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.
- $199 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. Receive up to $199 in statement credits per calendar year after you pay for your CLEAR Plus Membership (subject to auto-renewal) with the Platinum Card®.
- Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
- Use Global Dining Access by Resy to access premium dining experiences. Receive Priority Notify and unlock insider access to some of the world's most sought-after restaurants with Global Dining Access by Resy. Download the Resy iOS app or log into Resy.com and add your Platinum Card® to your Resy profile to take advantage of your special benefits and discover restaurants near you.
- $695 annual fee.
- Terms Apply.
- Rates & Fees
- Earn 5X points for flights booked directly with airlines or with American Express Travel® (up to $500,000 in purchases per calendar year).
- Earn 5X points on prepaid hotels booked with American Express Travel®.
Page Contents
Amex Platinum Card Pros
- Access to over 1,400 Priority Pass lounges and dozens of Amex-affiliated lounges. Enrollment is required for select Amex benefits.
- Solid travel insurance protections.
- Over $1,500 in valuable annual credits, including hotel and air travel, Uber, Walmart+, and digital media.
- Valuable welcome offer.
- Points are transferable to an extensive array of valuable travel partners.
- No foreign transaction fees.
Amex Platinum Card Cons
- $695 annual fee.
- Poor return on everyday spending.
- Generally useful credits if you're a frequent traveler, but they might not provide value to everyone.
- Annual and monthly credit can be complex to use.
Amex Platinum Card Welcome Offer
The Amex Platinum currently has the following welcome offer: As High As 175,000 points. Find Out Your Offer. You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Based on the average value of actual bookings made by AwardWallet users, this welcome offer is worth up to $3,400! This alone provides enough value to justify the annual fee for the first several years. However, it all depends on what offer you're targeted for.
Related: American Express Card Offer History: Best-Ever Offers and When You Should Apply
Amex Platinum Card Benefits
With a plethora of travel perks and annual credits, there's a lot to cover on the Amex Platinum. We'll cover each thoroughly enough to understand its value and how to maximize it.
No preset spending limit
The Amex Platinum is not a traditional credit card. Instead, it has no preset spending limit, which has positives and negatives.
With a traditional credit card, you'll get a credit limit (for example, $10,000). You typically can't spend past that amount until you pay off some of the balance. Contrasting this are cards with no preset spending limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history.
This doesn't mean the card gets unlimited spending capacity, but it does mean you aren't likely to hit a hard cap on spending the way you would with traditional credit cards. Your purchase and payment history are factors that determine how much American Express will let you charge to the card.
However, there's a catch: You must pay your full balance each month with this card. There is an option around this. You can enroll in Pay Over Time (sometimes with a bonus) and have eligible purchases that you can opt to pay later. The downside is that you'll pay interest on the balance you carry.
Note: Eligible charges can be included in a Pay Over Time balance, up to the Pay Over Time Limit. All charges not added to a Pay Over Time balance or monthly payment plan or Cash Advance balance must be paid in full each month by the payment due date. Pay Over Time only applies to eligible charges meeting minimum transaction amounts for certain cards.
Related: How To Unenroll From Amex Pay Over Time (And Why It's a Good Idea)
Lounge access
American Express operates its own Centurion Lounge network with 15 U.S. locations and 10 international locations. Plus, there are more on the way. Amex Platinum cardholders enjoy complimentary access to Centurion lounges within three hours of flight departure or during a layover before a connecting flight.
Unfortunately, guests are no longer free for most cardmembers. You'll have to fork over $50 per person to bring up to two guests or immediate family (children between between 2 and 17 years of age cost $30) with you into the lounge. Alternatively, you can qualify for complimentary guest privileges by spending $75,000 annually on your card. However, this change greatly reduces the lounge access value — especially for traveling families. Note that you can only bring complimentary guests into the Hong Kong and London Heathrow international Centurion lounges.
Amex Platinum cardholders also have access to Escape Lounges — The Centurion Studio Partner, Airspace lounges, Plaza Premium lounges, select Lufthansa lounges, and other lounges that are included in the Global Lounge Collection. Cardmembers can bring up to two complimentary guests into Airspace, Escape, and Plaza Premium lounges. You'll need a boarding pass of a same-day departing flight.
The Amex Platinum also provides access to Delta Sky Club® locations. Use of Sky Clubs is more restricted, as you must have a boarding pass for a flight with Delta Air Lines that same day. Importantly, no complimentary guests are allowed for Sky Club visits; you have to pay $50 per person or $25 for Grab and Go entries. Like Centurion Lounge locations, Sky Club access is limited to three hours before your flight at your departure airport. Card members get 10 visits to be used until January 31 of the next calendar year, with the ability to unlock unlimited visits when you spend $75,000 on the card in a calendar year.
The Amex Platinum also provides you with a Priority Pass Select membership. This provides complimentary access to nearly 1,500 worldwide lounge locations within that network. Guest policies are subject to each individual lounge — but typically include up to two guests. The Amex Platinum does not offer complimentary Priority Pass Restaurant access. Enrollment is required for select Amex benefits.
Hotel and rental car elite status
You can enjoy elite status with two hotel chains and benefits with select car rental partners, including:
- Hilton: Enroll to receive complimentary Hilton Honors™ Gold elite status.
- Marriott: Enroll to receive complimentary Marriott Bonvoy Gold Elite status.
- Avis, Hertz, National: Enroll to receive status and perks, such as discounts, car upgrades, and even grace periods on late returns.
To enjoy complimentary elite status with each travel partner, you must enroll in each of the hotel and car rental loyalty programs. In fact, you will have to visit the benefits section of the Amex website to activate your hotel elite benefits. Additionally, you can use your card to earn rental car elite status for free, even matching this status to additional programs.
Amex Fine Hotels + Resorts and The Hotel Collection
The Amex Fine Hotels + Resorts program provides a nice set of benefits at hand-picked luxury hotels around the world. These include:
- Room upgrade, based on availability at check-in.
- Daily breakfast for two guests.
- Check-in as early as noon, when available.
- Guaranteed 4 p.m. late checkout.
- Complimentary Wi-Fi.
- Property credit, worth at least $100 per stay — which could be for dining, spa, or some other on-property experience, depending on the hotel.
The benefits of The Hotel Collection aren't as great, and these stays require a minimum of two nights. Perks include:
- Room upgrades, based on availability at check-in
- Property credit, worth at least $100 per stay.
- Check-in as early as noon, when available.
- Late checkout, when available
The two programs have a combined total of over 2,200 properties. You must book through Amex to receive these benefits.
Related: How To Receive Elite Hotel Benefits Without Elite Status
Save over $1,500 using all the card's statement credits
Keeping track of all the Amex Platinum‘s annual credits can be a chore. The card has man! Maximizing these credits is crucial for receiving the greatest value each year from your card. The issue for many people, including me, is that not all the credits are particularly useful.
Maximizing most or all of the travel-related credits can usually offset the card's annual fee or at least come close. Other credits, such as the digital media credit, can provide value for select cardholders. The bottom line is that the value will vary greatly depending on your individual circumstances.
Here is a summary of all the credits, which add up to over $1,500 in annual value:
- $200 hotel credit
- $200 airline incidental fee credit
- $199 CLEAR® Plus credit
- $200 in Uber Cash (as a monthly credit)
- $240 digital entertainment credit ($20 monthly)
- $120 Global Entry fee credit (every four years) or $85 TSA PreCheck (every 4.5 years)
- $100 Saks credit ($50 biannually)
- $155 Walmart+ credit (which covers the monthly subscription)
- $300 Equinox credit
- $300 off a SoulCycle bike (not factored into the annual value)
Enrollment is required for select Amex benefits.
$200 hotel credit offered with The Platinum Card® from American Express applies to prepaid Fine Hotels + Resorts® or The Hotel Collection bookings made via American Express Travel®. The Hotel Collection requires a minimum two-night stay.
Related: Which Amex Platinum Card Benefits You Need to Enroll In
Get $200 off a prepaid hotel with American Express Travel®
You can get up to $200 in annual statement credits for prepaid bookings made through the Amex Travel portal with Fine Hotels + Resorts® (FHR) or The Hotel Collection (THC) paid for with your Amex Platinum Card. This stay is eligible for all the additional perks when booking with FHR or THC. Even if the credit doesn't cover the hotel cost, you can still enjoy a $100 experience credit and a room upgrade, if available.
The primary drawback to the $200 credit is that it only applies to prepaid bookings. This is a downside if you like to be flexible with your travel plans. Also, make sure you note that there is a minimum two-night booking to reserve The Hotel Collection properties.
Related: How To Use the Amex Platinum Card's $200 Hotel Credit
Be reimbursed for $200 in incidental airline expenses each year
The Amex Platinum will reimburse you for common incidental expenses with your airline of choice — up to $200 per year. You must select one airline from a list of eight options (all based in the U.S. and include the major carriers). The credit will only cover incidental expenses with your selected airline. Enrollment is required for select Amex benefits.
Airline incidental expenses include baggage fees, seat selection fees, lounge day passes, inflight entertainment purchases (not always), and inflight food and beverage purchases. Importantly, you must enroll and choose a preferred airline in advance. Once you are enrolled, the benefit remains active year after year. You can only change your carrier of choice in January each year. If you miss this window, your previously selected airline will continue as your carrier of choice.
Related: How To Use The Platinum Card® from American Express Travel Credit
Use the CLEAR® Plus credit to speed through airport security
Pay up to $199 for an annual CLEAR Plus membership using your Amex Platinum and have the fee fully reimbursed as a statement credit. CLEAR Plus provides an extremely efficient security experience at select airports and stadiums across the United States through the use of your biometrics. The credit covers the full cost of CLEAR Plus.
You can read more about CLEAR and how to enroll here. At airports where the TSA PreCheck lines are starting to get routinely long, having CLEAR Plus can be a nice benefit.
Receive monthly Uber Cash with the Amex Platinum Card
Some of the Amex Platinum credits come as monthly benefits. This includes Uber Cash, useful for both rides or Uber Eats orders in the U.S. Just add the Amex Platinum as a payment method in your Uber account and get $15 in Uber Cash every month. An additional $20 is provided in December (for a total of $35). This adds up to $200 per year.
If you ride regularly with Uber or order food using Uber Eats, this is money straight back into your pocket. However, the benefit won't be very valuable if you don't regularly ride with Uber or order through Uber Eats.
Related: It's Now Easier to Use the Amex Platinum Uber Credit
Save $240 on digital entertainment annually
With the Amex Platinum Card, you can get up to $20 per month in digital entertainment credits, received as a statement credit after eligible purchases. You can use this benefit with Disney+, a Disney bundle, ESPN+, Hulu, Peacock, The New York Times, and The Wall Street Journal. If you already pay for any of these services, this is money worth considering at face value.You do need to enroll to be able to receive this benefit Enrollment is required for select Amex benefits.
Receive Walmart+ benefits for free
The Amex Platinum Card can reimburse you for the monthly Walmart+ membership fee of $12.95 plus applicable taxes. Importantly, you must enroll in Walmart+. If you already have a Walmart+ membership, just switch the payment method to your Amex Platinum to receive this monthly statement credit automatically. This is an annual value of $155.
Walmart+ benefits include free shipping without an order minimum and savings on gas at Walmart and Sam's Club fuel stations. A Walmart+ membership also saves you 10¢ per gallon at Mobil and Exxon gas stations when you use the Walmart app — something I didn't realize until recently.
Related: Amex Platinum Cardholders: Get Up to 10¢ Off Each Gallon of Gas via Walmart Plus Gas Discount
Save $100 with Saks each year
The Amex Platinum Card provides two $50 statement credits at Saks Fifth Avenue or at saks.com per year. The first $50 credit will be applied from January through June, and the second between July through December, for a total annual benefit of $100. Enrollment in advance is required in order to receive the credit.
Enroll in a Trusted Traveler Program for free
Unlike the other Amex Platinum credits, the statement credit of up to $120 for a security program application fee doesn't apply annually, which you don't have to pay annually anyway. With the perk, you can enroll in either TSA PreCheck ($85 application fee — credit available every 4.5 years) or Global Entry ($120 application fee — credit available every four years) and be reimbursed after paying with the Amex Platinum.
Getting approved for Global Entry is more involved than TSA PreCheck. Global Entry lets you skip the main airport immigration line when returning to the U.S. from abroad, which can save you lots of time if you frequently travel outside the U.S. Plus, Global Entry provides all TSA PreCheck benefits. TSA PreCheck gives you access to a shorter security line with less hassle.
The main hurdle with Global Entry is that you have to interview with a Customs and Border Patrol agent at an airport as part of the process. However, you can complete Enrollment on Departure (EOD) at select airports — no appointment is required. Another easy way to get an interview is on arrival back into the U.S. This is offered at airports in over half of U.S. states, in Puerto Rico, and at a handful of international locations. Look for Global Entry enrollment signs, or ask a CBP Agent after arriving in the U.S.
Whichever program you choose, simply use your card to pay for the application fee for the program. The reimbursement will be provided automatically via statement credit.
Get $300 annually with Equinox
Subscribe to an eligible Equinox fitness membership or a standalone membership to the Equinox+ app, and you can receive up to $300 per year as statement credits with your Amex Platinum Card. Eligible Equinox membership types include Single Club, Regional Access, All-Access, Destination Access, and E by Equinox access, as well as Equinox+.
You must enroll for this benefit using a special link provided by American Express.
Get $300 toward a SoulCycle At-Home bike
Use your card to purchase an at-home bike from SoulCycle at a dedicated shopping page. You'll need an annual Equinox+ membership to qualify for purchasing a bike, but you can receive a $300 credit on up to 15 bike purchases annually. You need to enroll for this benefit before using it.
Given how specific this benefit is, we don't factor it into the approximate annual value of all the Amex Platinum credits. But it's worth knowing about in case you're interested in a SoulCycle bike.
Amex Platinum Card travel insurance and purchase protection coverage
The Amex Platinum Card offers an excellent array of travel insurance and other protections. Here's a quick rundown of everything the Amex Platinum Card offers:
- Rental car damage protection: Amex Platinum car rental coverage is secondary, which isn't as good as other cards that provide primary coverage. However, you have the option of purchasing very affordable premium primary insurance. If you don't use another policy, this secondary coverage has a limit of $75,000 for damage or theft of rental vehicles and can reimburse the deductible from your primary policy.
- Trip cancellation/interruption insurance: You can be reimbursed for nonrefundable travel expenses charged to your card in the event of accidental injury or sickness, inclement weather, jury duty, quarantine, and other covered reasons. Coverage is up to $10,000 per trip and up to $20,000 in a 12-month period. Exclusions and limitations apply, so make sure you check out the full terms of this coverage.
- Trip delay insurance: You can get reimbursed for expenses during a delay of at least six hours caused by inclement weather, common carrier equipment failure, or lost/stolen travel documents. Coverage is up to $500 per trip with a maximum of two claims per 12-month period. The benefit requires round-trip travel, but Amex defines this as potentially including multiple tickets. Essentially, you just need to plan to arrive back home.
- Baggage insurance protections: Your baggage is covered against loss or damage up to $2,000 per checked bag and $3,000 per carry-on bag per covered person per trip. High-risk items — including jewelry — are subject to a maximum of $1,000 per covered person. There is an aggregate maximum of $3,000 per trip.
- Extended warranty protection: You can receive up to one additional year of protection for eligible items with an original manufacturer's warranty of five years or less. This benefit applies to warranties in the U.S. and U.S. territories only and is limited to $10,000 per item/$50,000 annually.
- Purchase protection: Your eligible items are covered against loss, damage, or theft for 90 days from the date of purchase. Coverage is up to $10,000 per incident and up to $50,000 annually.
Consult your Amex Platinum guide to benefits for a full rundown on all insurance protections. Exclusions and limitations apply, so be mindful of the terms. Enrollment is required for select Amex benefits.
Cell phone protection coverage
This is a key perk we want to highlight. Pay your cell phone bill with your Amex Platinum and receive automatic cell phone protection coverage. This benefit applies as long as you've paid your previous month's bill using your card. Coverage is up to $800 per incident (with a $50 deductible) for up to two claims in a rolling 12-month period. Depending on the incident, coverage can include both repair and replacement costs.
The surprising aspect is that Amex cell phone protection even covers a cracked screen, which is sometimes excluded from cell phone protection coverage offered by many cards. If you have to make a claim, this benefit alone can make up for the card's annual fee. I always make sure to pay my phone bill with a card that offers cell phone protection.
Amex Platinum Card Earning Rates
The Amex Platinum shines when earning points on airfare purchases. You can earn 5X Membership Rewards points for flights booked directly with airlines or through American Express Travel.
This 5X earning applies to the first $500,000 spent on airfare purchases per calendar year, which should be more than enough for most people. Many travel credit cards earn no more than 3X points on travel, so this is a stand-out feature of the Amex Platinum Card. You can also earn 5X Membership Rewards points on prepaid hotels and flight+hotel packages booked through American Express Travel.
All other eligible spending on the card earns 1 Membership Rewards point per dollar. This is a lackluster rate compared to most cards. I would not make this card an everyday contender for your wallet. But it certainly has its place as an excellent option for airfare spending.
Redeeming Points With the Amex Platinum Card
American Express Membership Rewards are a highly valuable transferable points currency. Amex features some excellent airline and hotel transfer partners, and redeeming points by transferring them to travel partners for reward travel generally provides the best value. According to recent redemption data from AwardWallet, Membership Rewards points have an average value of 1.96¢ per point when redeeming through Amex partners. My personal target is to get at least 2 cents per point out of my Membership Rewards.
Factoring in the 5X Membership Rewards points earned on airfare, the Amex Platinum has nearly a 10% return on these purchases. American Express has 20 airline and hotel partners that you can send points to, including Delta, Air Canada, British Airways, Hilton, Marriott, and more. Generally, you get better value redeeming points for business- or first-class flights:
- Domestic and short-haul international business and first class: 2.52¢ per point
- Long-haul international business and first class: 2.95¢ per point
You can redeem your points in other ways, from gift cards to Amazon purchases. But we strongly recommend you use them for travel, as this provides the best value. Most other redemption options get you 1 cent per point or less.
Related: 5 Excellent Redemption Strategies for Amex Membership Rewards
Application Restrictions
Know the American Express application rules to understand if you're eligible for a welcome bonus on the Amex Platinum Card. The following terms apply to the welcome offer:
“You may not be eligible to receive a welcome offer if you have or have had this Card, the Platinum Card® from American Express Exclusively for Charles Schwab, the Platinum Card® from American Express Exclusively for Morgan Stanley or previous versions of these Cards. You also may not be eligible to receive a welcome offer based on various factors, such as your history with credit card balance transfers, your history as an American Express Card Member, the number of credit cards that you have opened and closed and other factors. If you are not eligible for a welcome offer, we will notify you prior to processing your application so you have the option to withdraw your application.”
Luckily, Amex has a pop-up window to tell you if you're ineligible for the welcome offer before submitting your application. This is the notification that is described in the terms above. So, you'll be clearly informed if you're not eligible. Then, you can decide if you still want to apply without the bonus offer.
There are other rules to note, as well. Amex only allows each person to have five traditional credit cards and 10 cards with no preset spending limit at any time. Moreover, you're unlikely to be approved for more than two cards in a 90-day window.
Related: Understanding Rewards Credit Card Application Rules and Restrictions
Cards That Compete With the Amex Platinum Card
(Terms apply)
- 4X Membership Rewards® Points at restaurants worldwide, plus takeout and delivery in the U.S. (on up to $50,000 per year in purchases, then 1X)
- 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X)
- 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com
- 2X Membership Rewards® points on prepaid hotels and other eligible travel booked on amextravel.com
- 1X on other eligible purchases
- 10X miles per $1 on hotels and rental cars booked via Capital One Travel
- 5X miles per $1 on purchases through Capital One Entertainment (through 12/31/2025)
- 5X miles per $1 on flights when booking via Capital One Travel
- 5X miles per $1 on vacation rentals booked via Capital One Travel
- 2X miles per $1 on all other eligible purchases
- 8x points on all purchases through Chase Travel℠
- 4x points on flights and hotels booked directly
- 3x points on dining worldwide
- 1x points on all other purchases
- If you want to earn American Express Membership Rewards at a better rate, look into the American Express® Gold Card. This card earns 4X Membership Rewards points on the first $50,000 at restaurants worldwide, and on the first $25,000 you spend at U.S. supermarkets each year (then 1X on both categories). The card also earns 3X points on flights booked through American Express Travel and on flights booked directly with airlines, and 2X points on prepaid hotels and other eligible purchases booked on AmexTravel.com. This falls short of the 5X on the Amex Platinum Card but is still a solid earning rate. Plus, it has access to the same transfer partners. You lose most of the ancillary benefits, however. The card carries a much lower $325 annual fee, though (Rates & Fees). Our Amex Gold review has further details.
- If you want a card with lounge access with a lower annual fee, consider the Capital One Venture X Rewards Credit Card. This card provides a Priority Pass membership and access to Capital One and Plaza Premium Lounges with an annual fee of just $395. It also has up to a $300 annual travel credit and up to a $120 Trusted Traveler Program credit. The card earns at least 2X miles on all purchases — a fantastic everyday earning rate — with up to 10X earnings available in the travel portal. The Capital One Venture X is one of the most cost-effective premium credit card options. Learn more in our full Capital One Venture X review.
- If you want a card with better earnings on all travel, check out the Chase Sapphire Reserve®. The card has similar 5x earnings when you book flights through Chase Travel and an even greater 10X when you book hotels and rental cars. Even better, it earns 3X on all other travel. So, you're not restricted to only earning on flights. You'll sacrifice some of the annual credits, but you'll gain a flexible $300 annual travel credit and still enjoy a complimentary Priority Pass membership with this card. The annual fee is a lower $795. Check out our review of the Chase Sapphire Reserve to learn more.
Related: Comparison of Premium Travel Rewards Credit Cards
Bottom Line
Ultimately, you'll have to decide whether the Amex Platinum is worth its annual fee. Unfortunately, it is an expensive card — even for one offering premium travel benefits. Over the past several years, American Express has added additional new credits, but also raised the card's annual fee. But if you can use everything the Amex Platinum offers, these statement credits alone add up to over $1,500 in value. Keep in mind which credits you can use, and do the math to see what value they will provide. Some may be harder than others to maximize.
Beyond the credits, the card provides an excellent array of travel benefits and insurance protections that can save you significant money. A benefit like cell phone protection can easily be worth far more than the $695 annual fee (Rates & Fees) if you have to use it. Make sure you don't forget about the generous welcome offer, either!
That said, even if you only get $400–$500 in annual value from the Amex Platinum‘s annual credits, the card could be worth it for the lounge access, travel insurance coverage, and other benefits with values that are harder to quantify.
Lastly, compare the Amex Platinum against other great premium travel credit cards. This is helpful if you don't find the credits useful, think the annual fee is too steep, or want to see how the Amex Platinum stacks up against competitors.
- You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you're approved and find out your exact welcome offer amount - all with no credit score impact. If you're approved and choose to accept the Card, your score may be impacted.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
- Enjoy the benefits of the Global Lounge Collection, with over $500 of annual value if you visit Centurion Lounges and each of our partner lounges including Delta Sky Club® lounges when flying an eligible Delta flight (subject to visit limitations) , select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges, and enroll in Priority Pass Select. See terms.
- A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart. Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive one statement credit for up to $12.95 (plus applicable taxes. Plus Ups not eligible) each month. Free Shipping excludes most Marketplace items, freight & certain location surcharges. Paramount+ Essential plan only, separate registration required.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- $200 Uber Cash: Platinum Card® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.
- $199 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. Receive up to $199 in statement credits per calendar year after you pay for your CLEAR Plus Membership (subject to auto-renewal) with the Platinum Card®.
- Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
- Use Global Dining Access by Resy to access premium dining experiences. Receive Priority Notify and unlock insider access to some of the world's most sought-after restaurants with Global Dining Access by Resy. Download the Resy iOS app or log into Resy.com and add your Platinum Card® to your Resy profile to take advantage of your special benefits and discover restaurants near you.
- $695 annual fee.
- Terms Apply.
- Rates & Fees
- Earn 5X points for flights booked directly with airlines or with American Express Travel® (up to $500,000 in purchases per calendar year).
- Earn 5X points on prepaid hotels booked with American Express Travel®.
For rates and fees of the cards mentioned in this post, please visit the following links: The Platinum Card® from American Express (Rates & Fees), American Express® Gold Card (Rates & Fees), and Chase Sapphire Reserve® (Rates & Fees)
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