American Express Platinum Card® offers the most comprehensive airport lounge network available, giving you access to premium Centurion Lounges plus thousands of other lounges worldwide. You can easily offset the card’s large annual fee through generous credits for Uber, hotels, digital entertainment, Resy dining, and lifestyle brands like lululemon.
This credit card review will cover everything you need to know about this card to determine if you should add this card or a different card to your wallet. Let’s dive right in.
- bonus_miles_full
- 5x Points on Flights Booked Directly With Airlines (up to $500,000 in purchases each calendar year)
- Airport Lounge Access (Centurion, Delta Sky Club when flying Delta, Priority Pass, Escape, and Plaza Premium)
- $895 Annual Fee (Rates & Fees)
Welcome Bonus
The American Express Platinum currently offers the following welcome bonus: bonus_miles_full
As with most American Express cards, there are some restrictions regarding the welcome bonus. American Express enforces a once-per-lifetime rule for welcome bonuses, which means you won’t be eligible for a welcome bonus if you’ve ever received a welcome bonus for 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.
Earning Points
Cardmembers are also eligible for targeted Amex Offers that could boost earning rates at various merchants.
This earning structure positions the Platinum Card as a powerhouse for frequent travelers, especially those who regularly book flights and prepaid hotels. The 5x earning rate on airfare is exceptionally generous, potentially earning you 25,000 points on $5,000 of flight purchases.
However, it’s important to note that the 5x earning rate on hotels only applies to prepaid bookings made through Amex Travel. This requirement may not always align with your travel preferences or habits, especially if you frequently book directly with hotels to earn elite night credits or take advantage of specific hotel promotions.
The 1x earning rate on all other purchases is relatively low compared to some other premium travel cards. This means that while the Platinum Card excels for travel purchases, it may not be the optimal choice for your everyday spending. Consider pairing it with another card that offers higher earning rates on categories like dining, groceries, or general purchases to maximize your overall points earning potential.
It’s also worth noting that unlike some competing premium travel cards, the Amex Platinum doesn’t offer bonus points on broader travel categories (like car rentals or cruises) or dining purchases. This more limited bonus category structure is something to consider when evaluating the card’s overall earning potential for your specific spending patterns.
Despite these limitations, for those who spend heavily on airfare and can book their hotel stays through Amex Travel, the earning potential of the Platinum Card is substantial. The ability to quickly accumulate points on these purchases can lead to significant value, especially when leveraging transfer partners for premium travel redemptions.
Annual Fee
The Amex Platinum comes with a hefty annual fee of $895 (rates & fees), which can be offset if you take advantage of the numerous credits and great airport lounge access. There is also a $195 annual fee for each additional authorized user Platinum Card, who also receive airport lounge access, Global Entry/TSA PreCheck credit, and hotel and rental car elite status. For example, if you had three authorized users with Amex Platinum cards, your additional fee would be $585. Alternatively, you can add for free up to 99 Companion Cards for free, which allows you to earn points for spending on the Companion Card, but there are no perks like airport lounge access.
American Express Platinum Card Benefits
The Amex Platinum offers the most benefits of any credit card, including the following: Lounge Access: Eligible Card members get access to the extensive American Express Global Lounge Collection, including Centurion Lounges, Priority Pass lounges, Lufthansa lounges (when flying Lufthansa, SWISS, or Austrian) and Delta Sky Clubs when flying Delta. Platinum members receive 10 Delta Sky Club visits annually per eligible card (unless you spend $75,000 in a calendar year) when traveling on same-day Delta flights. Airline Fee Credit: You’ll receive up to $200 in statement credits annually for incidental fees charged by one qualifying airline of your choice.* Hotel Credits: You’ll receive up to $600 in hotel credits annually with this card, split into two convenient semi-annual periods. The credit structure gives you up to $300 from January through June and another $300 from July through December.* Uber Cash: Your card provides up to $200 annually in Uber Cash, distributed as up to $15 monthly credits, plus a bonus of up to $20 in December. These credits can be used for both Uber rides and Uber Eats orders within the United States when you add your Platinum Card as a payment method and redeem with any Amex card.* Uber One Credit: You’ll receive up to $120 annually in statement credits after purchasing an auto-renewing Uber One membership with your card, which is separate from the existing $200 annual Uber Cash benefit.* CLEAR Plus Credit: You can cover the cost of a CLEAR Plus Membership with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with this card.* Digital Entertainment Credit: You’ll receive up to $25 monthly (up to $300 annually) in credits toward popular streaming services like Disney+, Hulu, ESPN+, Paramount+, Peacock, YouTube Premium, YouTube TV, and digital subscriptions to The New York Times and The Wall Street Journal. * Resy Dining Credit: You’ll receive up to $100 quarterly (up to $400 annually) in statement credits when you use your card for eligible dining purchases at over 10,000 U.S. Resy restaurants.* Lululemon Shopping Credit: You’ll receive up to $75 quarterly (up to $300 annually) in statement credits when you use your card for eligible purchases with Lululemon in the U.S.* Oura Ring Credit: You’ll receive up to $200 annually in credits when you use your card to purchase an Oura Ring through ouraring.com.* Equinox Credit: Enjoy up to $300 in annual statement credits toward Equinox gym memberships or the Equinox+ fitness app (subject to auto-renewal).* SoulCycle Benefit: You can receive up to $300 in statement credits toward the purchase of a SoulCycle at-home bike (up to 15 bikes per calendar year). To qualify, you must be enrolled in an Equinox+ membership when making your purchase.* Walmart+ Credit: Receive up to $155 in statement credits annually (up to $12.95 monthly plus applicable taxes) covering a Walmart+ membership when paying with your Platinum Card. Global Entry/TSA PreCheck: You’ll get a $120 statement credit for Global Entry every four years or up to $85 credit for TSA PreCheck every 4.5 years. Saks Fifth Avenue Credit: Enjoy up to $100 in Saks Fifth Avenue statement credits annually, divided into two $50 credits (January-June and July-December).* Hotel Elite Status: Enjoy complimentary Gold status with both Hilton Honors, Marriott Bonvoy, and Leaders Club hotel programs.* Car Rental Status: Enjoy complimentary elite status with multiple car rental agencies: Hertz Gold Plus Rewards President’s Circle, Avis Preferred Plus, and National Emerald Club Executive. Premium Hotel Programs: You’ll have access to exclusive Amex Fine Hotels + Resorts and The Hotel Collection booking programs. These provide valuable perks like room upgrades, daily breakfast for two, guaranteed late checkout, and unique property amenities during your stays. Travel Protections: Your Platinum Card covers trip delays over six hours (up to $500), cancellations/interruptions (up to $10,000), secondary rental car insurance when declining the rental company’s waiver, and baggage insurance for lost, damaged, or stolen items when purchasing tickets with your card.** Shopping Protections: Your Platinum Card safeguards purchases with extended warranty coverage adding up to one year to eligible manufacturer’s warranties, protection against theft, damage, or loss for 90 days, potential reimbursement when merchants refuse returns within 90 days, and cell phone protection when you pay your monthly bill with your card.** * Enrollment is required for select benefits. ** Eligibility and benefit level varies by card. Terms, conditions, and limitations apply. Please visit americanexpress.com/benefitsguide for more details.
Redeeming Amex Membership Rewards
American Express Membership Rewards points are a versatile and valuable currency for travelers. The program offers numerous redemption options, with transfers to airline partners being the most lucrative way to use your points. Amex partners with 18 airlines and 3 hotel chains, allowing you to access a wide range of travel possibilities. Some of the best redemptions include booking business class flights to Europe through Air France-KLM Flying Blue for as low as 50,000 miles one-way. Virgin Atlantic’s Flying Club offers excellent value for Delta One flights to Europe at 50,000 points, significantly less than booking directly through Delta. For those planning a trip to Asia, transferring to ANA Mileage Club can yield incredible value. Round-trip business class flights from the West Coast to Tokyo can be booked for just 90,000 miles. Singapore Airlines KrisFlyer is another great option, especially for their renowned long-haul flights like New York to Singapore. Domestic travelers can benefit from transferring to British Airways Executive Club for short-haul American and Alaska Airlines flights, with awards starting at just 8,250 Avios for distances up to 650 miles. While transferring to airline partners typically offers the best value, Amex also allows direct redemptions for flights through their travel portal. However, this option generally provides lower value at 1 cent per point. To maximize your Membership Rewards, focus on high-value airline transfers for premium cabin international flights. With strategic planning, you can unlock extraordinary travel experiences and significant savings on your next adventure.
Membership Rewards Transfer Partners [1 to 1]
Aer Lingus Avios
AeroMexico [1 to 1.6]
Air Canada Aeroplan
Air France/KLM Flying Blue
ANA
Avianca LifeMiles
British Airways Avios
Cathay Pacific Asia Miles
Delta SkyMiles
El Al [1,000 to 20]
Emirates
Etihad Guest
Hawaiian Airlines
Iberia Avios
JetBlue [250 to 200]
Qantas
Qatar Airways
Singapore KrisFlyer
Virgin Atlantic
Choice
Marriott Bonvoy
Hilton Honors [1 to 2]
Pros and Cons
Here’s a quick overview of this card’s advantages and disadvantages:
Pros:
The Amex Platinum offers numerous advantages that make it a top contender in the premium credit card market:
Extensive Lounge Access: The Platinum Card’s lounge access benefit is arguably one of the best in the industry. With access to over 1,400 lounges worldwide, including the prestigious Centurion Lounges, Delta Sky Clubs (when flying Delta), Priority Pass lounges, and more, this card is a dream for frequent travelers who value comfort and luxury at the airport. The ability to escape the hustle and bustle of busy terminals and enjoy complimentary food, drinks, and often spa services or shower facilities can significantly enhance your travel experience and potentially save you money on airport dining.
Valuable Annual Credits: The array of annual credits offered by the Platinum Card can easily offset the annual fee for cardholders who can maximize these benefits. From the $200 airline fee credit and $200 in Uber Cash to the various shopping and entertainment credits, these perks can provide over $1,500 in value annually if fully utilized. Even if you only use a portion of these credits, they can still go a long way toward justifying the card’s annual fee.
Elite Status Benefits: Complimentary elite status with Hilton, Marriott, Hertz, and National can significantly enhance your travel experiences. These statuses would typically require multiple stays or rentals to earn, so receiving them automatically is a valuable perk. The hotel statuses, in particular, can lead to room upgrades, late check-out, and bonus points on stays, potentially saving you money and improving your travel comfort.
Flexible Redemption Options: The Membership Rewards program offers a wide array of redemption options, with the ability to transfer points to 20 airline and hotel partners being particularly valuable. This flexibility allows you to maximize the value of your points by choosing the most advantageous redemption for each specific travel need.
Comprehensive Travel Protections: The Platinum Card offers a suite of travel protections including trip delay insurance, trip cancellation and interruption coverage, and baggage insurance. These protections can provide peace of mind and potential savings in case of travel disruptions.
Cons:
Despite its many benefits, the Platinum Card® from American Express has a few drawbacks that potential applicants should consider:
High Annual Fee: The $895 annual fee is one of the highest among mainstream credit cards. While the card’s benefits can more than offset this fee for the right user, it’s a significant upfront cost that may be prohibitive for some. If you’re unable to take advantage of many of the card’s credits and perks, you might struggle to justify this expense.
Limited Bonus Categories: Unlike some competitors, this card doesn’t offer bonus points on broader travel categories or dining purchases. The 5x points are limited to airfare and prepaid hotels booked through specific channels, while all other purchases earn just 1x points. For many cardholders, this means the Platinum Card may not be the best choice for everyday spending.
Complex Benefits Structure: With so many different credits and benefits, some cardholders might find it challenging to keep track of and maximize all the card’s perks. Many of the credits are disbursed monthly rather than annually, requiring regular attention to fully utilize. Additionally, some benefits require enrollment, which can be easy to overlook.
Authorized User Cost: Adding authorized users to the Platinum Card costs $195 each, which is higher than many competing premium cards. While authorized users do receive many of the card’s benefits, including lounge access and hotel status, this additional cost can be significant for families or couples looking to share an account.
Alternatives to the Amex Platinum
Now that you know about this credit card’s various benefits and pros and cons, it’s time to see its alternatives.
Chase Sapphire Reserve®
The Chase Sapphire Reserve® (review) offers premium travel benefits including lounge access, hotel elite status, and multiple statement credits that can offset its $795 annual fee. With bonus earnings on travel and dining purchases plus the ability to transfer points to 14 airline and hotel partners, this card delivers strong value for frequent travelers who can maximize its benefits. Welcome Bonus: bonus_miles_full Earning Rewards: 10x points on Hotels (excluding The Edit) and car rentals and 5x points on flights through Chase Travel after the first $300 is spent on travel purchases annually; 10x points on Chase Dining purchases with Ultimate Rewards; 3x points on dining at restaurants, including eligible delivery services, takeout, and dining out; 3x points on other travel after the first $300 is spent on travel purchases annually; 1x points on other eligible spending. Card Benefits: $300 annual travel credit, Priority Pass airport lounge membership with unlimited visits, Global Entry or TSA PreCheck® or NEXUS application fee credit of up to $120 every four years, no foreign transaction fees, travel insurance (primary rental car, trip delay, trip cancellation, travel accident, lost luggage, and baggage delay), purchase protection, return protection, and extended warranty. Transfer Partners: Aer Lingus, Air Canada Aeroplan, British Airways, Emirates, Air France KLM Flying Blue, Hyatt, IHG, Iberia, JetBlue, Marriott, Singapore KrisFlyer, Southwest, United, and Virgin Atlantic.
Capital One Venture X Rewards Credit Card
The Capital One Venture X Rewards Credit Card (review) delivers both everyday value with unlimited 2x miles on purchases and premium comfort through comprehensive airport lounge access for you upon enrollment. You’ll also receive $300 in annual travel credits plus 10,000 anniversary bonus miles, creating substantial ongoing value. Welcome Bonus: bonus_miles_full Earning Rewards: 10x miles on hotels and rental cars and 5x miles on flights and vacation rentals booked through Capital One Travel; 2x miles on all other purchases. Card Benefits: $300 annual credit for bookings through Capital One Travel, 10,000 bonus miles every account anniversary, airport lounge access (Capital One and Priority Pass) upon enrollment, Global Entry / TSA PreCheck credit, Hertz President’s Circle elite status, primary rental car insurance, trip delay insurance, trip cancellation insurance, and cell phone protection. Transfer Partners: Accor (2 to 1), Aeromexico, Air Canada Aeroplan, Air France-KLM Flying Blue, Avianca LifeMiles, British Airways, Cathay Pacific, Choice Privileges, Emirates, Etihad, Finnair, I Prefer Hotels (1 to 2), Japan Airlines(2 to 1.5), JetBlue (5 to 3), Qantas, Qatar, Singapore KrisFlyer, TAP Air Portugal, Turkish Airlines, Virgin Red, and Wyndham Rewards.
Is the Amex Platinum Worth It?
The Amex Platinum can provide great value for the right cardholder, but it’s not for everyone. Here’s how to determine if it’s worth it for you:
If you’re a frequent traveler who values airport lounge access, hotel elite status, and can make use of the various annual credits, this card can easily justify its high annual fee. The excellent earning rate on flights and prepaid hotels, coupled with the flexible Membership Rewards program, makes it a powerful tool for accumulating and redeeming valuable travel rewards. For those who can maximize its benefits, the Platinum Card can provide value far exceeding its annual fee.
However, if you don’t travel often, can’t utilize many of the card’s credits, or prefer a simpler rewards structure, you might find better value with a less expensive travel rewards card. It’s crucial to honestly assess your spending habits and travel patterns to determine if the Platinum Card aligns with your lifestyle.
Ultimately, the Platinum Card® from American Express is a premium product designed for those who appreciate luxury travel perks and are willing to navigate a complex array of benefits to extract maximum value. For the right user, it can be an excellent addition to their wallet, elevating their travel experiences and providing substantial rewards.
- bonus_miles_full
- 5x Points on Flights Booked Directly With Airlines (up to $500,000 in purchases each calendar year)
- Airport Lounge Access (Centurion, Delta Sky Club when flying Delta, Priority Pass, Escape, and Plaza Premium)
- $895 Annual Fee (Rates & Fees)
