The American Express Platinum Card is often considered the gold standard among travel credit cards, offering a plethora of benefits and perks that cater to frequent travelers and luxury enthusiasts. With its coveted Membership Rewards points, generous annual statement credits exceeding $1,500 (provided they’re maximized), and access to an extensive network of global airport lounges, this card sets the standard for opulence and exclusivity in the realm of travel.

In a market flooded with premium rewards cards, the Platinum Card from American Express has always stood out as the ultimate symbol of luxury. While competitors like the Chase Sapphire Reserve® and Capital One Venture X Rewards Credit Card have entered the scene, the Amex Platinum remains unique with its unparalleled benefits designed to enhance the travel experience.

The Platinum Card® from American Express comes with a $695 annual fee, positioning it among the highest in the industry. However, this fee grants access to an extensive array of benefits tailored to enhance every aspect of your travel, entertainment, dining, retail, and wellness experiences. It’s not merely about saving money; it’s about maximizing the value you receive for each dollar spent. If you’re someone who spends generously and expects exceptional returns, then the original luxury card may be the ideal choice for you.

Although the recommended credit score for this card typically falls above 690, and it’s widely regarded as one of the top travel cards, it’s essential to acknowledge that it may not align with the preferences and spending habits of every traveler. So, if you’re seeking nothing but the best and aiming to elevate your travel experiences to unparalleled heights, the Platinum Card from American Express could be your ideal companion. Let’s delve into its myriad benefits and determine if this iconic card deserves a revered place in your wallet. Apply for the card here.

American Express Platinum Card

Card Type: Premium Travel Card

Annual Fee: $695

Welcome Offer: With a generous sign-up bonus, the Platinum Card offers up to 150,000 Membership Rewards® points after spending $8,000 in the first 6 months of Card Membership. These points can be redeemed for travel, gift cards, merchandise, and more, providing substantial value for new cardmembers. When redeemed for travel through the American Express Travel portal, each Membership Rewards point is typically worth around 1 cent. Therefore, 150,000 points would be worth approximately $1,500 towards flights, hotels, car rentals, and other travel expenses.

Cashbash Rewards: – 5X points on flights booked directly with airlines or through American Express Travel®, on up to $500,000 on these purchases per calendar year – 5X points on prepaid hotels booked on AmexTravel.com – 1X points on all other purchases

American Express Platinum Benefits

• $200 Annual Uber Credits: Enjoy up to $200 in annual savings with $15 in Uber Cash each month for eligible Uber Eats orders and rides in the US, plus an extra $20 in December. This benefit not only covers transportation expenses but also offers added convenience and flexibility for dining and transportation needs. This benefit is a great way to save on transportation costs during your travels. Sign up for Uber and get $20 off $25 on your first order.
• $240 Digital Entertainment Credits: Stay entertained with up to $20 in statement credits each month for eligible purchases on popular platforms like Disney+, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Whether you’re a movie buff, news junkie, or sports fan, this credit ensures you never miss out on the latest entertainment.
• $200 Annual Hotel Credit: Indulge in luxury stays with up to $200 in annual statement credits for prepaid bookings at Fine Hotels + Resorts® or The Hotel Collection through American Express Travel. This credit can be applied towards room rates, dining, spa treatments, and other eligible expenses, enhancing your hotel experience without the added cost. Additionally, Amex additionally provides a $100 experience credit per booking for hotels part of Fine Hotels + Resorts®. We’ve taken advantage of this perk by booking the luxurious Taj Mahal Hotel in Delhi through Amex Fine Hotels & Collection. Not only did we receive the hotel credit back, but we also enjoyed a $100 experience credit, which we used for a sumptuous dinner at the hotel.
• $200 Annual Airline Fee Credit: The American Express Platinum Card offers up to $200 in annual airline fee credits, which can be used for incidental fees like baggage fees, in-flight purchases, and more. This credit alone can significantly offset the annual fee for frequent flyers.
• $155 Walmart+ Credit: Simplify your shopping with Walmart+ membership perks, including online and in-store benefits. Use your Platinum Card to cover the cost of your monthly membership and receive statement credits to offset the expense. This benefit provides added value for everyday essentials and household items.
• Amazing Lounge Collection: One of the most cherished benefits of the American Express Platinum Card is access to the Global Lounge Collection, which includes Centurion Lounges, Priority Pass lounges, Delta Sky Clubs, and more. Lounge access can greatly enhance the travel experience by providing a comfortable space to relax and unwind before or between flights. Do you know Amex Centurion Lounge New York (JFK) offers free massages to its members? We got our Amex Platinum Card three years ago and have been thoroughly enjoying its benefits ever since. As avid travelers, we hate waiting at the gate for our flights and prefer spending our time in airport lounges. American Express boasts some of the best lounges with amazing food and drinks. Our personal favorites are the Plaza Premium Lounges in Dubai and Malaysia. Apply for the card here
• $300 Equinox Credit: Prioritize your health and wellness with up to $300 in statement credits per calendar year for Equinox membership fees. Whether you prefer virtual classes or in-person workouts, this benefit supports your fitness goals and encourages a healthy lifestyle.
• $100 Shop Saks With Platinum: Treat yourself to luxury shopping experiences at Saks Fifth Avenue or saks.com with up to $100 in annual statement credits. This credit can be used towards purchases of clothing, accessories, beauty products, and more, allowing you to indulge in upscale retail therapy.
• $189 CLEAR Plus Credit: CLEAR Plus is a membership program offered by CLEAR® that utilizes biometric technology, such as eyes or fingerprints, to digitally verify identity, allowing members to move quickly through security checkpoints at select airports nationwide. With CLEAR Plus, members can enjoy expedited security screening without the need to present physical identification documents, making the airport experience more efficient and streamlined. Additionally, CLEAR Plus members have access to exclusive benefits, such as dedicated security lanes and priority boarding at participating airports, further enhancing their travel experience. The American Express Platinum Card offers up to $189 in statement credits per calendar year for CLEAR Plus membership fees, providing cardmembers with added value and convenience during their travels.
• Premium Car Rental Protection: Travel with peace of mind knowing that your rental car charges are covered with primary coverage for theft or damage and excess medical coverage for accidents. No need to buy additional insurance with the rental car company. Just use your enrolled Platinum Card to pay for the rental car, you can enjoy primary coverage for theft of or damage to the rental vehicle. Plus, it can provide secondary medical coverage if you are injured in an accident. Read more about the Car Rental Protection here.
• Purchase Protection and Phone Protection: The American Express Platinum Card offers robust purchase protection, which covers eligible purchases against accidental damage or theft for up to 90 days from the date of purchase, cardholders can enjoy complimentary cell phone protection, providing coverage for damage or theft of their cell phone when the monthly phone bill is paid with the card. We personally used this benefit twice. This benefit proved to be a lifesaver during our snorkeling adventure in Hawaii. Unfortunately, our phone got wet and stopped working. However, thanks to the comprehensive coverage provided by Amex, we were able to file a claim and receive $650 reimbursement for our phone.
• Gold Membership with Hilton and Marriott: Cardholders receive complimentary gold elite status with both Hilton Honors and Marriott Bonvoy, providing access to room upgrades, late checkout, and other exclusive perks at participating properties.
• Global Dining Access by Resy: Gain special access to premium dining experiences and sought-after restaurants worldwide using Resy. With exclusive reservations, priority notifications, and premium dining experiences, this benefit elevates your culinary adventures and allows you to dine like a VIP.

Alternate credit cards to consider

Here are some alternative credit cards to consider that compete with the Amex Platinum:

• Chase Sapphire Reserve and Capital One Venture X Rewards Credit Card, With its $550 annual fee, it offers a $300 travel credit and top-tier travel protections, making it a compelling choice for frequent travelers. Additionally, its Ultimate Rewards program provides flexibility in redemption options, including transfer partners and the Pay Yourself Back feature.
• Another strong contender is the Capital One Venture X Rewards Credit Card. With a $395 annual fee, it stands out with its high earning potential, offering 10 miles per dollar on hotels and car rentals booked via Capital One Travel, 5 miles per dollar on flights booked through the same portal, and 2 miles per dollar on all other purchases. This card is ideal for those who prioritize earning flexible travel rewards without the constraints of airline or hotel loyalty programs.

For additional options check out our 5 Best Travel Credit Cards

Conclusion: Is It Worth It?

For us, travel is more than just reaching a destination; it’s about embracing the journey and savoring every experience along the way. Four years ago, we decided to enhance our adventures by obtaining the American Express Platinum Card, and it’s truly transformed the way we explore the world.

While the $695 annual fee may initially appear steep, the extensive array of benefits and perks offered by the American Express Platinum Card more than justifies the cost, particularly for avid travelers and luxury enthusiasts. From generous airline and hotel credits to exclusive lounge access and elite status perks, this card provides unparalleled value and convenience for those who prioritize exceptional travel experiences.

If you’re a frequent traveler who maximizes the card’s benefits, the high annual fee undoubtedly proves worthwhile. In essence, the American Express Platinum Card isn’t just a credit card; it serves as a portal to a realm of luxury travel and exclusive privileges. If you’re ready to elevate your travel journey and indulge in VIP treatment wherever you go, the American Express Platinum Card is unquestionably worth every penny of its annual fee. Apply for the card here.