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Amex Platinum Card Review: Luxury Travel Perks at a High Price

Review Updated
Brooklyn Sprunger
Author: Brooklyn Sprunger
Brooklyn Sprunger
Brooklyn Sprunger

Brooklyn leads the content team behind product reviews and ratings at Motley Fool Money, ensuring readers get well-researched, expert-backed insights to make smarter financial decisions. With nearly seven years working full-time in financial content -- four of them at The Motley Fool -- she has developed a deep passion for personal finance, from investing strategies to everyday money management. Her financial goals include buying a house and planning as many trips as her budget allows. In her free time, you’ll likely find her listening to a pop culture podcast or telling anyone who will listen to get a high-yield savings account.

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Nathan Alderman
Fact Checked: Nathan Alderman
Nathan Alderman
Nathan Alderman
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Nathan Alderman has been a full-time Motley Fool employee since 2005, making errors his arch-enemies in a variety of roles including a six-year stint as the dedicated fact-checker for The Motley Fool's premium newsletter services. As Motley Fool Money's Compliance Lead, he makes sure that all the site's information is accurate and up to date, which ensures we always steer readers right and keeps various financial partners happy. A graduate of Northwestern University's Medill School of Journalism, Nathan spends his spare time volunteering for civic causes, writing and podcasting for fun, adoring his wife, and wrangling his two very large young children.

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The Platinum Card® from American Express is a VIP card, designed for those who love the finer things in life and want top-tier perks without minding a top-tier price. Just having the card unlocks over $1,500 in spending credits, but it also comes with a hefty annual fee and the challenge of keeping track of all the benefits.

Amex is well-known for a reason: its cards come packed with premium perks. But is the Amex Platinum Card worth it for you? I'll break down the pros and cons below to help you decide.

The Platinum Card® from American Express
Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees External Link Icon

Ratings Methodology

The Platinum Card® from American Express

Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees External Link Icon

The Platinum Card® from American Express
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. 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.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. 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.
 = Best
= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent (670-850)
Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees External Link Icon

Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good/Excellent (670-850)

Intro APR

Purchases: N/A

Balance Transfers: N/A

APR

See Pay Over Time APR

Rewards Circle with letter I in it. 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 Circle with letter I in it. 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

  • 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.

    • Big welcome offer
    • Substantial spending credits
    • Airport lounge access
    • Hotel benefits
    • Flexible travel points
    • Annual fee
    • Limited bonus categories
    • Spending credits can be complicated to manage
    • 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.
    • 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.
    • $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
    • $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
    • With American Express Global Lounge Collection® you can enjoy access to over 1,400 airport lounges globally, including The Centurion® Lounge, Unlimited Delta Sky Club® Access when flying an eligible Delta flight, Escape Lounges, Lufthansa Lounges when flying Lufthansa Group, Plaza Premium, Priority Pass™ Select Lounges, & Additional Global Lounge Collection Partner Lounges subject to visit limitations. Lounges may have their own rules, like additional access rules and guest fees, and for Priority Pass Select, you need to enroll and there are unlimited airport lounge visits for Card Members. With Delta Sky Club Access, Card Members will receive 10 Visits to the Delta Sky Club to be used from February 1 until January 31 of the next calendar year and can unlock Unlimited Delta Sky Club Access by spending $75,000 in eligible purchases on their Card in a calendar year. To find a lounge, visit the membership section in the American Express® App or visit http://www.americanexpress.com/findalounge#/loungefinder.
    • $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
    • $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
    • $200 Uber Cash: Platinum Card® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.
    • $199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
    • Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
    • Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
    • Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
    • $695 annual fee.
    • Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
    • Terms Apply.
Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Trip delay and cancellation insurance and cell phone protection underwritten by New Hampshire Insurance Company, an AIG Company. Extended warranty, purchase protection, car rental insurance, and baggage insurance underwritten by AMEX Assurance Company.

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates and 0% intro APR offers, welcome bonuses, fees, and perks like travel credits and purchase protections.

Our highest-rated credit cards have:

  • ​​High value through rewards or 0% intro APR offers
  • Attainable welcome bonuses that make up for any annual fees
  • Low annual fees or a balance transfer fee of 3%
  • Top perks such as purchase and travel protections, no foreign transaction fees, travel credits, and status upgrades

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best credit card recommendations. Our aim is to maintain a balanced best-of list featuring top-scoring credit cards from reputable brands. 'Best for' category selections on this page are determined by our editors, and a single card may be recognized in multiple categories.

Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates credit cards.

At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates and 0% intro APR offers, welcome bonuses, fees, and perks like travel credits and purchase protections.

Our highest-rated credit cards have:

  • ​​High value through rewards or 0% intro APR offers
  • Attainable welcome bonuses that make up for any annual fees
  • Low annual fees or a balance transfer fee of 3%
  • Top perks such as purchase and travel protections, no foreign transaction fees, travel credits, and status upgrades

We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best credit card recommendations. Our aim is to maintain a balanced best-of list featuring top-scoring credit cards from reputable brands. 'Best for' category selections on this page are determined by our editors, and a single card may be recognized in multiple categories.

Ordering within lists is influenced by advertiser compensation, including featured placements at the top of a given list, but our product recommendations are NEVER influenced by advertisers. Learn more about how Motley Fool Money rates credit cards.

What I like about the Amex Platinum Card

More than 20 hotel and airline transfer partners

Amex Membership Rewards points are incredibly valuable, especially when used strategically. In most cases, you'll get the best value by transferring them to one of Amex's 20-plus airline and hotel partners instead of redeeming them directly for travel.

For example, instead of booking a hotel through Amex Travel, you could transfer points to a partner like Marriott Bonvoy or Hilton Honors to unlock free nights at high-end properties. Depending on the redemption, you could get $0.02 to $0.03 per point or more -- meaning, for example, an 80,000-point bonus could be worth $1,600 - $2,400 in hotel stays. Terms apply.

Airport lounge access

The Amex Platinum Card offers among the top airport lounge access benefits of any personal travel card. Think: access to over 1,400 airport lounges, including:

  • American Express® Centurion Lounges
  • Priority Pass™ lounges (enrollment required)
    Escape Lounges -- The Centurion® Studio Partner
  • Delta Sky Club® (when flying Delta; 10 visits per year or unlimited when you spend $75,000 annually)
  • Lufthansa lounges (select airports)
  • Plaza Premium lounges

Amex estimates the value of lounge access at $500 or more per year, assuming you visit Centurion Lounges and airline-specific lounges at least a few times annually. If you travel often and enjoy a more comfortable airport experience, this perk alone can help justify the card's high annual fee. Terms apply; enrollment may be required.

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. Terms apply.

While this bonus is slightly higher than what you'd find with comparable cards like the Chase Sapphire Reserve® or Capital One Venture X Rewards Credit Card, Amex gives you twice as long to meet the spending requirement, making it easier to qualify for the full bonus.

Over $1,500 in spending credits

The Amex Platinum Card offers over $1,500 in travel, entertainment, and lifestyle credits each year:

  • $200 Uber Cash: $15 per month ($35 in December) for Uber rides or Uber Eats in the U.S., plus Uber VIP status.
  • $200 hotel credit: Earn up to $200 back on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through Amex Travel (Hotel Collection requires a two-night stay).
  • $240 digital entertainment credit: Get $20 back per month on eligible subscriptions, including Disney+, Hulu, ESPN+, The New York Times, Peacock, and The Wall Street Journal.
  • $155 Walmart+ credit: Covers the full monthly cost ($12.95 + tax) when you use your card to pay for Walmart+.
  • $200 airline fee credit: Get up to $200 back on incidental fees (not airfare) for one selected airline per year.
  • $300 Equinox credit: Up to $300 back on an Equinox+ digital subscription or an Equinox Club membership.
  • $100 Saks Fifth Avenue credit: $50 in credits from January to June and another $50 from July to December for Saks purchases.
  • $199 CLEAR® Plus credit: Covers the cost of a CLEAR® membership annually.
  • Statement credit every four years for TSA Precheck or Global Entry.
  • Travel perks like car rental loss and damage insurance, trip delay insurance, and trip cancellation or interruption insurance.
  • Terms apply; enrollment may be required.

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; enrollment may be required.

These perks can be a goldmine, if you use them. The question is, do they fit your lifestyle, or are they more hassle than they're worth? Only you can decide that.

Credit card comparison

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
Rating image, 4.50 out of 5 stars.
4.50/5 Circle with letter I in it. 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.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash back on rotating categories 		Discover will match all the cash back you’ve earned at the end of your first year. 1% - 5% Cashback Circle with letter I in it. 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

Apply Now for Discover it® Cash Back

On Discover's Secure Website.

Rates & Fees External Link Icon

Rating image, 5.00 out of 5 stars.
5.00/5 Circle with letter I in it. 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.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for cash rewards on everyday spending 		$200 cash rewards Circle with letter I in it. Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. 2% cash rewards Circle with letter I in it. Earn unlimited 2% cash rewards on purchases.

Intro: Circle with letter I in it. 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

Apply Now for Wells Fargo Active Cash® Card

On Wells Fargo's Secure Website.

Rates & Fees External Link Icon

Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. 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.
 = Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases 		25,000 points Circle with letter I in it. 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 Circle with letter I in it. 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: Circle with letter I in it. 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.

Downsides you should consider

Hefty annual fee

At $695 per year (see rates and fees), the Amex Platinum Card has one of the highest fees for a personal card -- comparable to other premium cards like Chase Sapphire Reserve® ($550, see rates and fees) and Capital One Venture X Card ($395, see rates and fees).

While the card offers numerous travel perks and credits, you'll need to actively use them to justify the cost. If you don't travel frequently or take advantage of benefits like lounge access, hotel status, or airline fee credits, the high fee might not be worth it.

Managing all the extra perks can be overwhelming

Maximizing this card's value means keeping track of multiple credits, which can feel like a full-time job. With so many perks, it's easy to get overwhelmed, especially since some have different redemption schedules.

For example, the $100 Saks Fifth Avenue credit is split into two $50 chunks (one from January to June, the other from July to December), so you have to keep this on a calendar in order to make sure you get the full value. (One of my friends told me she goes the first of January and July and gets a $50 gift card, and then stock piles them for a big purchase. Good hack.)

If you prefer simplicity, this card might not be the best fit. But if you're willing to manage the details, the perks can be well worth it.

Best for flyers who prefer premium seats and airlines

The Amex Platinum Card is designed for travelers who enjoy luxury, and its travel benefits reflect that. The Amex Travel portal primarily features premium seats, first-class fares, and higher-end airlines, making it a great option for those who prioritize comfort. However, if you're looking for basic economy fares or budget airlines, you won't find many options here.

Is it worth the annual fee?

If you're not getting at least $695 in value, the annual fee isn't worth it. But if you're willing to maximize the benefits, it's not hard to break even.

For example, book a two-night hotel stay through Amex Travel and get a $200 statement credit for select prepaid bookings. Use the $200 airline incidental credit for baggage fees or in-flight purchases. Get a $199 CLEAR Plus credit to skip long airport lines, and another $240 back on eligible subscription services. Terms apply; enrollment may be required.

Just like that, the card pays for itself. But it does take effort, so it's only worth it if you'll actually use the perks. Other travel cards are available that have lower, and sometimes even no annual fee.

If you like Amex's travel benefits but don't want to pay such a high fee, consider the Amex Gold Card. It still gives you access to the Amex Travel portal and the same transfer partners, but with a lower $325 annual fee (see rates and fees). Plus, it offers strong rewards on supermarket and restaurant spending.

Final thoughts

The Platinum Card® from American Express is a powerhouse for travelers who take full advantage of its perks and credits. If you prioritize luxury travel, like lounge access and elite hotel status, it can easily be worth the cost. But if you prefer simplicity or won't maximize the credits, the $695 annual fee may be tough to justify. Ultimately, this card is best for those who travel frequently and enjoy premium experiences.

Apply now and turn your everyday spending into luxury travel, exclusive perks, and premium rewards.

FAQs

  • No, Amex Membership Rewards points are best used for travel redemptions, especially by transferring them to airline and hotel partners. However, you can redeem them for statement credits, though at a lower value. Terms apply.

  • Yes, but it comes at a cost: $195 per additional cardholder, and they must be age 13 or older (see rates and fees). However, authorized users get access to major perks like lounge entry and hotel status, making it a great deal for frequent travelers. Terms apply.

  • You'll typically need a good to excellent credit score (670 or higher) to qualify. A strong credit history and high income can also improve your chances of approval.