American Express Platinum Card Review: Is It Worth the High Annual Fee?

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

Overview of the American Express Platinum Card

The American Express Platinum Card, often simply referred to as the “Amex Platinum,” is a luxury credit card that offers a wide array of travel-related benefits and rewards. It is a charge card, meaning you need to pay off your balance in full each month, but it allows for higher spending limits than typical credit cards. The card’s main appeal lies in its generous travel perks, which cater to frequent flyers and those who enjoy a premium travel experience.

Key Features and Benefits

• Welcome Bonus: The Amex Platinum Card offers a substantial welcome bonus, which can vary depending on the current promotion. As of now, new cardholders can earn 80,000 Membership Rewards points after spending $6,000 on purchases in the first 6 months of card membership. These points can be redeemed for travel, gift cards, merchandise, and more, with travel being the most valuable redemption option.

• Earning Rates: The American Express Platinum Card is designed with travelers in mind, offering impressive earning rates on travel-related expenses:

• • 5x Membership Rewards points on flights booked directly with airlines or through American Express Travel.
  • 5x points on prepaid hotels booked on amextravel.com.
  • 1x point on all other eligible purchases.
  • This card is particularly beneficial for those who spend heavily on flights and hotels, allowing cardholders to accumulate points quickly.

• Travel Credits: To help offset its high annual fee, the Amex Platinum Card provides several travel credits:
  • $200 Airline Fee Credit: This credit covers incidental airline fees such as checked baggage and in-flight refreshments. It is valid for one selected airline per year.
  • $200 Hotel Credit: Cardholders can receive a $200 credit each year on prepaid bookings at Fine Hotels + Resorts or The Hotel Collection properties, booked through American Express Travel.
  • $189 CLEAR® Credit: This credit covers the cost of CLEAR membership, which allows you to speed through security at participating airports and stadiums.
  • $100 Global Entry or TSA PreCheck Credit: Every 4 years, cardholders can receive a statement credit for the application fee for Global Entry or TSA PreCheck, making security screening easier and faster.

• Lounge Access: One of the standout features of the Amex Platinum Card is its extensive lounge access:
  • American Express Global Lounge Collection: This includes access to over 1,200 airport lounges worldwide, including Centurion Lounges, Priority Pass lounges, Delta Sky Clubs (when flying Delta), and more.
  • Priority Pass Select Membership: Enjoy complimentary access to over 1,300 Priority Pass lounges globally. Enrollment required.

• Elite Status and Hotel Benefits: The Amex Platinum Card provides automatic elite status with both Hilton and Marriott, enhancing your hotel stay experience:
  • Hilton Honors Gold Status: Receive benefits like complimentary breakfast, room upgrades (when available), and late check-out at Hilton properties. Enrollment required.
  • Marriott Bonvoy Gold Elite Status: Enjoy perks such as room upgrades, late check-out, and bonus points on stays at Marriott hotels. Enrollment required.

• Travel and Purchase Protections: The Amex Platinum Card offers a range of protections that can provide peace of mind while traveling or making purchases:
  • Trip Cancellation and Interruption Insurance: Coverage for non-refundable travel expenses if your trip is canceled or interrupted due to a covered reason.
  • Trip Delay Insurance: Reimbursement for expenses if your trip is delayed more than 6 hours due to a covered reason.
  • Baggage Insurance Plan: Coverage for lost, stolen, or damaged baggage when traveling.
  • Purchase Protection: Covers eligible purchases against theft or damage for up to 90 days from the date of purchase.
  • Extended Warranty: Provides up to one extra year on warranties of five years or less.

• Other Credits and Benefits: In addition to travel benefits, the Amex Platinum Card offers several other credits that enhance its value:
  • $240 Digital Entertainment Credit: Up to $20 per month on eligible purchases or subscriptions, including services like The New York Times, Peacock, SiriusXM, and Audible. Enrollment required.
  • $300 Equinox Credit: Up to $25 per month toward Equinox gym memberships or the Equinox+ app. Enrollment required.
  • $100 Saks Fifth Avenue Credit: Up to $50 in statement credits for purchases at Saks Fifth Avenue, available from January to June and July to December. Enrollment required.

• Terms Apply