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The Platinum Card® from American Express is good for frequent travelers who want it all -- and don't mind paying for it. It has an incredible list of benefits, including elite status at multiple hotels, airport lounge access, and a variety of spending credits (terms apply; select enrollment may be required). All that comes with a steep $695 annual fee (see rates and fees).
Find out if it's worth it for you in our Amex Platinum Card review.
On American Express' Secure Website.
Terms apply
On American Express' Secure Website.
Terms apply
Good/Excellent (670-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
APR
See Pay Over Time APR
Rewards Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply.
1X-5X Membership Rewards® Points
Annual Fee
$695
Welcome Offer Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
80,000 Membership Rewards® Points
This luxury travel card has some of the most prestigious perks you'll find — access to over 1,400 airport lounges, elite status with Hilton and Marriott Bonvoy (enrollment required), and spending credits worth over $1,500 in value every year. Just be ready for the hefty annual fee, which can be offset in the first year with a welcome bonus worth $800 in points. Terms apply.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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Discover will match all the cash back you’ve earned at the end of your first year. | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 18.24% - 27.24% Variable APR |
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Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
$200 cash rewards Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. | 2% cash rewards Earn unlimited 2% cash rewards on purchases. |
Intro: 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers Purchases: 0% intro APR, 12 months from account opening Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers Regular: 19.24%, 24.24%, or 29.24% Variable APR |
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Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
|
25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases | 1.5-3 points per dollar Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center. |
Intro: 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America. Purchases: 0% Intro APR for 15 billing cycles for purchases Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days Regular: 18.24% - 28.24% (Variable) |
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
The Platinum Card® from American Express can be either an amazing deal or far too expensive. It all depends on whether you can take advantage of its benefits. Many of these benefits aren't the easiest to use, so this card isn't right for everyone. But if its features fit your lifestyle, it's one of the most valuable travel rewards cards you'll find.
I'm a big fan of travel cards, and I also love American Express cards, because I've always been impressed with its high level of customer service. It's easy to resolve issues and get questions answered by phone or live chat, and wait times are short. I've avoided The Platinum Card® from American Express because it's a little too complicated for my tastes. I'd rather not keep track of too many benefits. But if you don't mind that, this card is loaded with perks -- I've considered opening it just for the amazing airport lounge access.
From professional credit card reviews to online forums, here's a look of what others think about this American Express card.
Average review site rating: 4.4 / 5.0 stars
We read reviews of this card from five top review sites. Everyone's largely in agreement about its pros and cons. On the positive side, reviewers loved the wealth of features you get, including:
The main complaints were the costly annual fee and how hard it can be to manage all the benefits. Some reviewers pointed out that this card isn't going to be for everyone. Indeed, it's really only well-suited for a small number of people.
This seems to be a love-it-or-hate-it card online. Some cardholders rave about how much value they get from it. Others can't stand trying to use all the benefits, especially the spending credits -- I saw people refer to it as a "full-time job" and a "coupon book."
Most are in agreement that this American Express card is a fantastic value for the right person, but it's not ideal for everyone else. If the travel perks and spending credits are features you'd normally use, then this card makes sense. If you won't use them, or if they're going to cause you to spend more than you would otherwise, you should look for top credit cards that better fit your needs.
The Platinum Card® from American Express has one of the largest welcome offers you'll find. You earn 80,000 Membership Rewards® Points Membership Rewards points for spending $8,000 on purchases within the first 6 months (terms apply). You could redeem those points for airfare through American Express Travel, or it's possible to get even more value by transferring them to a travel partner.
You can also earn big on travel bookings with this card. Here are its rewards rates:
It doesn't have a lot of bonus categories, to be honest. But it at least earns high rates on two of the top travel expenses.
The American Express Membership Rewards program doesn't disappoint. Membership Rewards points are transferable to over 20 airline and hotel partners, so there are plenty of ways to use them (terms apply).
Transferring points to a partner works especially well for expensive bookings. For example, if you want to book business class on an international flight, you could transfer points to the airline's loyalty program. It's possible to get $0.02 to $0.03 per point or more this way -- meaning 80,000 bonus points could be worth $2,400 or more.
A word of warning: It takes time to figure out how to use American Express points. If you're not interested in transferring points, this may not be the card for you, because the other redemption options don't offer much value. The only decent alternative is booking airfare through American Express Travel for $0.01 per point.
If you love luxury travel experiences, you'll probably love this card. It has what I consider the best airport lounge access in the business, with complimentary access to over 1,400 lounges. That includes the following types of lounges:
American Express® Centurion Lounges, in particular, are known for being much more upscale than your typical lounge. They get crowded, as they've become extremely popular. Still, the dining options, drinks, and layouts get high marks from travelers.
Being a Card Member also entitles you to automatic Marriott Bonvoy™ Gold Elite Status and Hilton Honors Gold Status. There aren't many hotel cards offering elite status with multiple hotel loyalty programs. Terms apply.
This American Express card has all kinds of travel, entertainment, and dining credits. Here's what it offers every year:
You can also get a statement credit every four years covering a Global Entry or TSA PreCheck membership. Terms apply.
When people talk about how they love using this American Express card, it's often because they feel like they're covered in the event of an issue. Here are its complimentary protections that apply to every eligible purchase:
American Express is unique in that it's also an insurance company. If you need to file a claim, you do so directly with American Express -- not a third-party insurance company, like with the insurance that other card issuers offer.
The biggest complaint I see about this card is the difficulty of using its benefits. The spending credits, in particular, are often a source of frustration. Sure, you could get over $1,500 in value every year -- if you use Uber every month, have a Walmart+ membership, shop at Saks twice a year, and so on.
This card only makes sense if the benefits fit your lifestyle, and if you don't mind keeping track of them. It's definitely not the card to pick if you're looking for simplicity.
For all its benefits, this American Express card has a lackluster rewards rate. It only has two bonus categories, and neither of them are on everyday spending categories, such as gas and groceries. If your goal is to earn as many points as possible, there are better rewards cards available.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
A FICO® Score of 670 or higher is recommended when applying for The Platinum Card® from American Express. Your credit score is one of many factors that American Express will consider, so that alone doesn't guarantee an approval or denial.
American Express has a pre-approval tool online that anyone can use, or you can check for pre-approvals in your account if you're already a client. Either one will show you if you're a match for any American Express cards, which may or may not include The Platinum Card® from American Express.
The Platinum Card® from American Express is designed to be paid in full every month. If you use its Pay Over Time feature, you can find the APR in your card's rates and fees.
Here are the fees for The Platinum Card® from American Express:
The Platinum Card® from American Express has no preset spending limit. The amount you can spend adapts based on several factors that include your purchases, payments, and credit history. American Express offers a tool to check your spending power, which you can find in your online account and the mobile app.
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.
The Platinum Card® from American Express doesn't have a credit limit or a preset spending limit. The amount you can spend is flexible based on factors that include your purchase, payment, and credit history. If you want to see if a large purchase will be approved, American Express offers a tool to check your spending power in your online account and its mobile app.
The Platinum Card® from American Express is hard to get if you don't have good or excellent credit. Most approved applicants have a FICO® Score in the 700s.
Yes, you can use The Platinum Card® from American Express internationally, and it doesn't charge a foreign transaction fee.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
*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. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
**Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.
***Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.
****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.
For rates and fees for the The Platinum Card® from American Express, click here
The Motley Fool owns shares of and recommends Visa. The Motley Fool recommends Amex.