The American Express Platinum Card has long been synonymous with luxury and premium benefits. However with a hefty annual fee, is it the right choice for you? This guide breaks down the perks, fees, and everything you need to know about the AmEx Platinum Card.
The Ultimate Guide to the American Express Platinum Card: Is It Worth It?
Introduction
The American Express Platinum Card is one of the most prestigious travel rewards cards available, offering a vast array of luxury perks, travel credits, and elite benefits. But is the hefty annual fee worth it? In this comprehensive guide, we will break down every aspect of the Amex Platinum Card, including its rewards, benefits, fees, and hidden perks that other reviews often overlook.
Key Features at a Glance
- Annual Fee: $695
- Welcome Bonus: Varies (Typically 80,000-150,000 Membership Rewards® Points after meeting minimum spending requirements)
- Rewards Rate:
- 5X points on flights booked directly with airlines or through AmexTravel.com (up to $500,000 per calendar year)
- 5X points on prepaid hotels booked through AmexTravel.com
- 1X points on all other purchases
- Premium Benefits:
- Up to $200 airline fee credit per year
- Up to $200 Uber Cash annually ($15 per month, $35 in December)
- Up to $240 digital entertainment credit ($20 per month for select services)
- Up to $100 Saks Fifth Avenue credit ($50 semi-annually)
- Complimentary airport lounge access (Centurion Lounges, Priority Pass, and more)
- Global Entry/TSA PreCheck fee reimbursement
- Marriott Bonvoy Gold and Hilton Honors Gold elite status
- No foreign transaction fees
Who Should Consider the American Express Platinum Card?
The Amex Platinum Card is ideal for:
- Frequent travelers who want premium perks like airport lounge access and hotel elite status.
- Luxury seekers who value premium travel experiences and concierge services.
- Business professionals who spend heavily on airfare and hotels.
- High-spending consumers who can take full advantage of the credits and benefits.
If you rarely travel or can’t use the included statement credits, the high annual fee may not be worth it.
In-Depth Rewards Breakdown
Travel Rewards: 5X Points on Flights and Hotels
- Earn 5X Membership Rewards points on flights booked directly with airlines or through AmexTravel.com (up to $500,000 per year).
- Earn 5X points on prepaid hotels booked through AmexTravel.com.
- Other travel-related purchases earn 1X points per dollar.
Everyday Spending: 1X Points on Everything Else
Unlike some premium cards that offer high rewards on general spending, the Amex Platinum focuses on travel. Everyday purchases earn 1X points, making it less rewarding for non-travel spending.
Maximizing the Card’s Value: Statement Credits & Perks
$200 Airline Fee Credit
- Get $200 in statement credits per calendar year for incidental airline fees (seat selection, checked bags, in-flight purchases) on a chosen airline.
- Must manually select the airline through Amex.
$200 Uber Cash
- Receive $15 in Uber Cash monthly (plus $35 in December) for Uber Eats or Uber rides.
- Simply add the card to your Uber account to activate.
$240 Digital Entertainment Credit
- Get $20 per month for eligible digital subscriptions like The New York Times, Peacock, Audible, and more.
- Netflix and Spotify are NOT included, which many users may not expect.
$100 Saks Fifth Avenue Credit
- Get $50 every six months for Saks Fifth Avenue purchases.
- No minimum spending requirement, but the selection at Saks can be pricey.
Global Entry/TSA PreCheck Fee Credit
- Get a $100 credit every 4 years for Global Entry or a $85 credit every 4.5 years for TSA PreCheck.
- Helps you speed through airport security and customs.
The Ultimate Travel Perk: Airport Lounge Access
One of the biggest reasons to get the Amex Platinum is its unparalleled airport lounge access.
Lounge Networks Included:
- Centurion Lounges (exclusive to Amex Platinum and Centurion cardholders)
- Priority Pass Select (1,300+ airport lounges worldwide)
- Delta Sky Club (when flying Delta)
- Plaza Premium Lounges
- Escape Lounges
Compared to competitors, the Platinum Card offers the most comprehensive lounge access available.
Additional Elite Status Benefits
Hotel Elite Status:
- Enjoy Marriott Bonvoy Gold and Hilton Honors Gold status automatically.
- Perks include room upgrades, late checkout, and bonus points.
Car Rental Perks:
- Complimentary Hertz President’s Circle, Avis Preferred Plus, and National Emerald Club Executive status.
Fees & Potential Downsides
High Annual Fee: $695
The $695 annual fee is one of the highest in the industry. It’s only worth it if you maximize the travel perks and statement credits.
Limited Non-Travel Rewards
Unlike competitors like the Chase Sapphire Reserve, the Amex Platinum doesn’t reward dining, groceries, or everyday spending beyond 1X points.
No Travel Protections on Award Flights
If you book award flights with points, Amex’s travel insurance benefits do not apply—something many users don’t realize.
How It Compares to Other Premium Cards
| Feature | Amex Platinum | Chase Sapphire Reserve | Capital One Venture X |
|---|---|---|---|
| Airline Rewards | 5X on flights | 3X on travel | 2X on travel |
| Hotel Rewards | 5X on prepaid hotels | 3X on hotels | 2X on hotels |
| Dining Rewards | 1X | 3X | 2X |
| Lounge Access | Centurion + Priority Pass | Priority Pass | Priority Pass |
| Annual Fee | $695 | $550 | $395 |
FAQs
1. Is the Amex Platinum Card worth it?
If you maximize the travel perks, lounge access, and statement credits, then yes. Otherwise, it may not be worth the high fee.
2. Does the Platinum Card have foreign transaction fees?
No, there are no foreign transaction fees, making it great for international travel.
3. What credit score is needed for approval?
A good to excellent credit score (700+ recommended) is needed for the Amex Platinum Card.
4. Do Membership Rewards points expire?
No, Amex points never expire as long as your account remains open and in good standing.
5. Is the Amex Platinum Card metal?
Yes, it’s a metal card, giving it a premium feel and added durability.
Final Verdict: Is the Amex Platinum Worth It?
The American Express Platinum Card is an elite travel rewards card that offers unmatched luxury benefits. With extensive airport lounge access, hotel elite status, and premium travel credits, it’s an excellent choice for frequent travelers and high spenders. However, if you don’t travel often or take full advantage of the perks, the high $695 annual fee may not be justified.
If you’re looking for VIP travel perks and luxury experiences, the Amex Platinum is worth it in 2025.
