If you\u2019re a frequent traveler who wants to level up your luxury, the recently updated American Express Platinum Card\u00ae could help you accomplish this goal. This premium travel card offers a number of travel perks, including annual credits, airport lounge access, and exclusive hotel benefits.<\/p>\n
But luxury isn\u2019t cheap, and the card comes with a pricey annual fee. Despite this, the Amex Platinum may still be worth it if you can maximize its many benefits.<\/p>\n
Here\u2019s everything you need to know about the card\u2019s features, perks, and drawbacks to help you decide if it\u2019s right for your wallet.<\/p>\n
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Annual fee<\/p>\n
$895<\/p>\n<\/li>\n
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Welcome offer<\/p>\n
You may be eligible for as high as 175,000 Membership Rewards\u00ae Points after spending $12,000 within the first 6 months (welcome offers vary and you may not be eligible for an offer); apply to know if you\u2019re approved and find out your exact welcome offer amount \u2013 all with no credit score impact (if you\u2019re approved and choose to accept the card, your score may be impacted)<\/p>\n<\/li>\n
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Card type(s)<\/p>\n
Travel<\/p>\n<\/li>\n
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Ongoing Purchases APR<\/p>\n
See Pay Over Time APR<\/p>\n<\/li>\n
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Recommended credit score<\/p>\n
Excellent\/Good<\/p>\n<\/li>\n<\/ul>\n
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Rewards rate<\/p>\n
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- 5x points for flights booked directly with airlines or with American Express Travel\u00ae (up to $500,000 per calendar year)<\/li>\n
- 5x points on prepaid hotels booked with American Express Travel<\/li>\n
- 1x points on all other purchases<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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Benefits<\/p>\n
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- Get up to $600 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings with American Express Travel (up to $300 semi-annually; The Hotel Collection requires a minimum two-night stay)<\/li>\n
- Get up to $400 in annual statement credits ($100 each quarter; enrollment required) for eligible purchases with Resy, including dining at Resy restaurants<\/li>\n
- Enjoy up to $200 in Uber Cash annually \u2014\u00a0 that’s $15 in Uber Cash for rides or Uber Eats orders each month, plus a bonus $20 in December (you must have the latest version of the Uber App downloaded and your eligible American Express Platinum Card must be a method of payment in your Uber account; Amex benefit may only be used in United States)<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/p>\n
More details<\/strong>: Over $3,500 in annual value, offering added perks for travel, entertainment, and dining purchases<\/p>\n
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The majority of this card\u2019s value comes from its wide range of annual benefits, which can help you save at home or when you travel:<\/p>\n
Each calendar year, get up to $200 back as statement credits for airline incidental fees from your choice airline.<\/p>\n
You can also use your Platinum Card to get through airport security faster, with both a fee credit for TSA PreCheck or Global Entry every four years and up to $209 in statement credits annually for an auto-renewing CLEAR+ membership.<\/p>\n
The Platinum Card can help make your airport experience more relaxing with access to over 1,550 airport lounges, including 30 Centurion Lounges, through the American Express Global Lounge Collection.<\/p>\n
In addition to Centurion Lounges, eligible lounges include Delta Sky Club (up to 10 times per year when flying an eligible Delta flight), select Lufthansa lounges (when flying Lufthansa), Plaza Premium lounges, Escape Lounges, and Priority Pass Select lounges (with enrollment).<\/p>\n
Get complimentary elite hotel status with your card, including Marriott Bonvoy Gold Elite status, Hilton Honors Gold Status, and Leaders Club Sterling Status from The Leading Hotels of the World. Status with each of these programs comes with perks like complimentary upgrades when available, complimentary breakfast, and more.<\/p>\n
You\u2019ll also get a range of perks when you book stays at Fine Hotels + Resorts or Hotel Collection properties through Amex Travel. When you book Fine Hotels + Resorts, you can get early check-in and late checkout when available, a $100 credit for eligible charges, room upgrades(when available), and more. When you book a stay for two nights or more with the Hotel Collection, you\u2019ll get a $100 credit for eligible charges.<\/p>\n
Finally, the Platinum Card also offers up to $600 in hotel credits for prepaid bookings of Fine Hotels + Resorts or Hotel Collection properties through Amex Travel. You can earn up to $300 back on your bookings semi-annually.<\/p>\n
Read more: <\/em><\/strong>Best hotel credit cards<\/em><\/strong><\/p>\n
Cardholders can enroll in Avis Preferred, Hertz Gold Plus Rewards, or National Car Rental Emerald Club to access exclusive car rental perks.<\/p>\n
Take advantage of these annual credits for your purchases on dining, retail, entertainment, and more.<\/p>\n
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Up to $400 Resy dining credit:<\/strong> Up to $100 in statement credits each quarter (with enrollment) for eligible purchases with Resy, including dining purchases at Resy restaurants<\/p>\n<\/li>\n
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Up to $300 digital entertainment credit:<\/strong> Up to $25 back each month when you use your card on select digital subscriptions, including Paramount+, YouTube Premium, YouTube TV, Disney+, Disney+ bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal<\/p>\n<\/li>\n
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Up to $300 Lululemon credit: <\/strong>Up to $75 in statement credits each quarter for eligible purchases at Lululemon stores or Lululemon.com in the U.S. (with enrollment)<\/p>\n<\/li>\n
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Up to $120 Uber One membership credit*:<\/strong> Up to $120 in statement credits each calendar year when you use your card to purchase an auto-renewing Uber One membership in the U.S.<\/p>\n<\/li>\n
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Up to $200 Uber Cash*:<\/strong> Up to $15 per month plus an extra $20 in December in Uber Cash when you add your card to your Uber account<\/p>\n<\/li>\n
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Up to $200 Oura credit:<\/strong> Up to $200 in statement credits each year when you use your card to purchase an Oura Ring via Ouraring.com (with enrollment)<\/p>\n<\/li>\n
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Up to $155 Walmart+ credit:<\/strong> Up to $12.95 in monthly statement credits after you pay for an auto-renewing monthly Walmart+ membership<\/p>\n<\/li>\n
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Up to $300 Equinox credit:<\/strong> Up to $300 in statement credits each calendar year for Equinox club membership or Equinox+ digital subscription (subject to auto-renewal)<\/p>\n<\/li>\n<\/ul>\n
*To receive this benefit you must have downloaded the latest version of the Uber App and your eligible American Express card must be a method of payment on your Uber account. The Amex benefit may only be used in the United States.<\/em><\/p>\n
Insurance and protections<\/h3>\n
This card offers several insurance benefits, including trip delay and interruption insurance, car rental damage and loss coverage (secondary), and trip cancellation insurance. You can also access the Premium Global Assist hotline for help if you encounter a medical, legal, or financial emergency while traveling over 100 miles from home.**<\/p>\n
Cardmembers also get extended warranty and purchase protection. Your card\u2019s extended warranty coverage will increase eligible manufacturers\u2019 warranties of 5 years or less by a year. Coverage limits are $10,000 per item or $50,000 per calendar year. Likewise, if you make a purchase with your card and that item is damaged, lost, or stolen, you could get reimbursed up to $10,000 per item or $50,000 per calendar year.<\/p>\n
**Eligibility and benefit level varies by card. Terms, conditions, and limitations apply. Please visit americanexpress.com\/benefitsguide for more details. Underwritten by Amex Assurance Company.<\/em><\/p>\n
Dining and other perks<\/h3>\n
As a card member, you can access special dining experiences and reservations through Global Dining Access by Resy. This is in addition to your annual Resy dining credit. You\u2019ll also get access to exclusive experiences, including sporting events, art exhibits, and more, through the American Express By Invitation Only program.<\/p>\n
The Amex Platinum is a true travel rewards card in the sense that you\u2019ll earn the highest reward rate on qualifying travel purchases. You can maximize your rewards by booking your hotels and flights through the Amex portal or purchasing tickets directly from airlines. These purchases will net you 5x points.<\/p>\n
Other qualifying purchases made with your card will earn 1x points. As with other cards, you won\u2019t earn rewards on statement credits, balance transfers, or cash advances.<\/p>\n
You can redeem your Membership Rewards points for travel bookings through Amex Travel or transfer them to one of Amex\u2019s airline and hotel travel partners. Popular partner programs include British Airways Executive Club, Delta SkyMiles, JetBlue TrueBlue, Emirates Skywards, Hilton Honors, and Marriott Bonvoy.<\/p>\n
You can also redeem your rewards for gift cards, statement credits, deposits to an eligible American Express checking account, or merchandise. But you\u2019ll generally get the best value for your points when you use them to book flights through Amex Travel or by transferring them to partners.<\/p>\n
Related: <\/em><\/strong>How much are Amex Membership Rewards points actually worth?<\/em><\/strong><\/p>\n
In general, it only makes sense to apply for the Amex Platinum card if you travel often. Its rewards and many benefits are travel-focused, so those who don\u2019t venture away from home frequently probably won\u2019t get much value from this card.<\/p>\n
Jetsetters who travel regularly for business or pleasure likely won\u2019t have to strategize much to offset the pricey annual fee. But to really maximize your points, you should be comfortable booking travel through the American Express portal, as those purchases earn the highest rewards.<\/p>\n
Cardholders who frequently shop at the brands offering credits could also get good value from this card, though it may take more deliberate planning. For example, cardholders that max out the annual credits from Walmart, Uber, and the eligible streaming and online media subscriptions could come out ahead. If you don\u2019t already spend with eligible partners, though, you may not gain the full value from your Platinum Card perks.<\/p>\n
Related: <\/em><\/strong>Are credit cards with annual fees worth it?<\/em><\/strong><\/p>\n
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Generous welcome offer<\/p>\n<\/li>\n
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Valuable statement credits<\/p>\n<\/li>\n
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High earning rate on qualifying travel bookings<\/p>\n<\/li>\n
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Exclusive hotel benefits<\/p>\n<\/li>\n
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Complimentary lounge access<\/p>\n<\/li>\n
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No foreign transaction fee<\/p>\n<\/li>\n<\/ul>\n
You can use the Amex Platinum anywhere American Express cards are accepted. Amex is widely accepted in the U.S., though it\u2019s not as commonly accepted globally. It\u2019s also worth noting that you cannot use Amex cards at Costco.<\/p>\n
Review your card agreement before traveling abroad if you have questions about acceptance, and consider bringing along a Visa or Mastercard as backup.<\/p>\n
If you have questions about your card, you can reach the American Express customer service team by calling 1-800-528-4800 24 hours a day, 7 days a week. You can also get help by logging into your Amex Platinum account.<\/p>\n
While the Platinum Card from American Express could be great for frequent travelers, its annual fee can make it cost-prohibitive for occasional travelers who can\u2019t access all its benefits. Here are some alternative travel cards to consider if you feel it isn\u2019t right for your wallet.<\/p>\n
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Rewards rate<\/p>\n
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- 8x points on all purchases through Chase Travel\u2120*<\/li>\n
- 4x points on flights and hotels booked direct*<\/li>\n
- 3x points on dining worldwide<\/li>\n
- 1x points on all other purchases<\/li>\n
- *After the first $300 is spent on travel purchases annually<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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Benefits<\/p>\n
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- Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables<\/li>\n
- Trip Cancellation\/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more<\/li>\n
- Receive up to a $120 statement credit every four years to cover the application fee for Global Entry, TSA PreCheck\u00ae, or NEXUS<\/li>\n<\/ul>\n<\/li>\n<\/ul><\/div>\n
Why we like it<\/strong>: The Chase Sapphire Reserve has a slightly lower annual fee of $795, and cardholders can get a $300 annual travel credit. Like the Amex Platinum, this card offers several annual credits that can hold a lot of value for your spending. As a cardholder, you\u2019ll also get a free Priority Pass Select membership, which lets you access over 1,300 airport lounges worldwide.<\/p>\n
Learn more: <\/em><\/strong>Amex Platinum vs. Chase Sapphire Reserve<\/em><\/strong><\/p>\n
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Rewards rate<\/p>\n
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- 10x miles on hotels and rental cars booked through Capital One Travel<\/li>\n
- 5x miles on flights and vacation rentals booked through Capital One Travel<\/li>\n
- 2x miles on all other purchases<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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Benefits<\/p>\n
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- $300 annual credit for travel bookings through Capital One Travel<\/li>\n
- 10,000 annual bonus miles (worth $100 in travel spending; starts on your first account anniversary)<\/li>\n
- Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge and Landing locations and participating Priority Pass lounges, after enrollment<\/li>\n<\/ul>\n<\/li>\n<\/ul><\/div>\n
Why we like it<\/strong>: The Venture X Rewards Credit Card from Capital One has a $395 annual fee, and you can also get a $300 travel credit when booking through the Capital One portal. Between the travel credit and generous welcome bonus, you could easily offset your annual fee for the first couple of years. Besides that, you\u2019ll also get complimentary access to Capital One and Priority Pass lounges.<\/p>\n
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Annual fee<\/p>\n
$325<\/p>\n<\/li>\n
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Welcome offer<\/p>\n
You may be eligible for as high as 100,000 Membership Rewards\u00ae Points after you spend $6,000 on eligible purchases in the first 6 months (welcome offers vary and you may not be eligible for an offer; apply to know if you\u2019re approved and find out your exact welcome offer with no credit score impact; if approved and you accept the card, your score may be impacted)<\/p>\n<\/li>\n
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Card type(s)<\/p>\n
Travel, Rewards<\/p>\n<\/li>\n
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Ongoing Purchases APR<\/p>\n
See Pay Over Time APR<\/p>\n<\/li>\n
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Recommended credit score<\/p>\n
Excellent\/Good<\/p>\n<\/li>\n<\/ul>\n
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Rewards rate<\/p>\n
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- 4x Membership Rewards Points at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1x)<\/li>\n
- 4x Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1x)<\/li>\n
- 3x Membership Rewards points on flights booked directly with airlines or on AmexTravel.com<\/li>\n
- 2x Membership Rewards points on prepaid hotels and other eligible purchases booked on AmexTravel.com<\/li>\n
- 1x Membership Rewards points on all other eligible purchases<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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Benefits<\/p>\n
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- Earn up to $10 in statement credits each month when you pay with your American Express Gold Card at Five Guys, Grubhub, The Cheesecake Factory, Goldbelly, and Wine.com (enrollment required)<\/li>\n
- Up to $100 in annual statement credits ($50 semi-annually) when you use your American Express Gold Card on eligible purchases at U.S. restaurants on the Resy app or Resy.com<\/li>\n
- Up to $84 per year ($7\/month) in statement credits after you enroll and pay with your American Express Gold Card at more than 9,000 U.S. Dunkin\u2019\u00ae locations (enrollment is required to receive this benefit)<\/li>\n<\/ul>\n<\/li>\n<\/ul><\/div>\n
Why we like it<\/strong>: If you only travel occasionally and prefer to earn rewards elsewhere, the American Express Gold Card could be a good option. This card offers 4x points at restaurants, 4x points at U.S. supermarkets (up to $25,000 a year), 3x points on flights booked directly with airlines or through Amex Travel, and 1x points on everything else.<\/p>\n
\nThis article was edited by <\/em>Alicia Hahn<\/em><\/p>\n
\nEditorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to the author(s) and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank\u2019s website for the most current information. This site doesn’t include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.<\/em><\/p>\n<\/p><\/div>\n
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