A large annual fee on a card often means it comes with valuable perks to make it worthwhile and that is most definitely the case for the The Platinum Card® from American Express. Its $695 fee may scare prospective cardholders away, but once you understand all this card has to offer, it’s clear you can actually make money by having this card at the top of your wallet.
80,000 Point Welcome Offer
New cardholders can get a jump start with their rewards earning by banking 80,000 points after spending $8,000 within the first six months. Most purchases made on the card will earn a straightforward 1 point per dollar spent, however, you can get 5X points on flights booked directly with airlines or through American Express Travel (on up to $500,000 spent each year) and 5X points on prepaid hotels booked on AmexTravel.com.
Over $1,500 in Platinum Value
The Platinum Card® from American Express offers several different statement credits that will apply to different spending categories or specific merchants. In total, you can get over $1,500 in value. Here are the annual statement credits you can start receiving from day one:
- $300 Equinox Credit: Statement credits will be provided on an annual basis of up to $300 per calendar year when you put your digital or eligible club membership at Equinox on your card
- $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you put eligible streaming services on your card
- $200 Hotel Credit: Applies to prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel. The Hotel Collection requires a minimum two-night stay.
- $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually.
- $200 Airline Fee Credit: Get up to $200 per year in statement credits when you charge incidental travel fees from one qualifying airline on your card
- $189 CLEAR Credit: Get up to $189 back per year when you charge your CLEAR membership to your card
- $155 Walmart+ Credit: Receive a statement credit each month to cover your Walmart+ membership cost
- $100 Saks Fifth Avenue Credit: Receive up to $50 in statement credits twice a year for purchases made at Saks Fifth Avenue on your card
Perks for Travelers
On top of the straightforward statement credits you can receive each year, there are some additional benefits that will appeal most to frequent travelers who can take advantage of them. Some of these perks include American Express Global Lounge Collection Access, Global Dining Access by Resy, Marriott Bonvoy™ Gold Elite Status, Hilton Honors Gold Status and Premium Car Rental Status. American Express continues to build on the Platinum Card so be sure to read through the full brochure of benefits to make sure you’re getting the most out of your card.
Flexible Rewards
American Express Membership rewards can be redeemed in many different ways, but savvy travelers will know you can get the most value out of your points by transferring them to airline and hotel partners. If you want to take a simpler route, you can use Amex’s Pay with Points option to cover all or part of a charge, redeem for gift cards or book or upgrade your travel reservations.
Rewards
1x – 5x
5 Membership Rewards points per dollar spent on flights booked directly with airlines or with American Express Travel, on up to $500,000 spent per year.
5 points per dollar on prepaid hotels booked with American Express Travel.
1 point per dollar on all other purchases.
Terms apply.
Intro Bonus
Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
Purchase APR
See Pay Over Time APR
Recommended Credit Score
Good – Excellent
670 – 850*

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Critics' Overview
This luxury card comes with a hefty price tag, but if you take advantage of all of the statement credit opportunities it is quickly justified (and then some). There is also a massive welcome bonus and a long list of card member perks to check out as well.
Purchase APR
See Pay Over Time APR
Recommended Credit Score
Good – Excellent (670 – 850*)
Card Details From Issuer
- Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
- 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 with American Express Travel when you pay with 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, SiriusXM, and The Wall Street Journal. Enrollment required.
- $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
- $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: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
- $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
- $189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
- $100 Global Entry Credit: Receive either a $100 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.
- $300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. 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.
- Terms Apply.
Apply Now
On American Express' Secure site
Get premium benefits with The Platinum Card® from American Express
Other Rewards Card Options
If you are in the market for a premium rewards card then the The Platinum Card® from American Express is tough to beat. Since it is always good to compare your top options, we have rounded up some other compelling rewards cards that may appeal to you as well.
Rewards
2x – 5x
Earn 5X miles on hotels and rental cars booked through Capital One Travel. Terms apply
Earn unlimited 2X miles on every purchase, every day
Intro Bonus
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
Purchase APR
20.99% – 28.99% (Variable)
Recommended Credit Score
Excellent, Good
670 – 850*

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Critics' Overview
There’s a good reason this travel card continually receives rave reviews. It offers a generous and uncomplicated flat rate on all purchases and an elevated rate on hotels and rental cars booked through Capital One Travel. If the massive welcome bonus doesn’t convince you then the ongoing rewards and perks surely will. Read our in-depth Critical Analysis to learn more.
Purchase APR
20.99% – 28.99% (Variable)
Recommended Credit Score
Excellent, Good (670 – 850*)
Card Details From Issuer
- Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Miles won’t expire for the life of the account and there’s no limit to how many you can earn
- Receive up to a $100 credit for Global Entry or TSA PreCheck®
- Enjoy two complimentary visits per year to Capital One Lounges or to 100+ Plaza Premium Lounges through the Partner Lounge Network
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enrich every hotel stay from our Lifestyle Collection with a suite of cardholder benefits, like a $50 experience credit, room upgrades, and more
- Transfer your miles to your choice of 15+ travel loyalty programs
Apply Now
On Capital One's Secure site
Rewards
2X – 10X
Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel. Terms apply
5X miles on flights booked through Capital One Travel. Terms apply
Earn unlimited 2X miles on all other purchases
Intro Bonus
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
Purchase APR
21.99% – 28.99% (Variable)
Recommended Credit Score
Excellent
720 – 850*

View All Card Details
Critics' Overview
If you have excellent credit and are looking to take your travel rewards to the next level then this premium card is for you. It does come with a steep annual fee but the introductory bonus, ongoing rewards and rich perks quickly justify the fee. Read our in-depth Critical Analysis to learn more.
Purchase APR
21.99% – 28.99% (Variable)
Recommended Credit Score
Excellent (720 – 850*)
Card Details From Issuer
- Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
- Receive a $300 annual credit for bookings through Capital One Travel, where you’ll get Capital One’s best prices on thousands of trip options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Elevate every hotel stay from the Premier or Lifestyle Collections with a suite of cardholder benefits, like an experience credit, room upgrades, and more
- Receive up to a $100 credit for Global Entry or TSA PreCheck®
Apply Now
On Capital One's Secure site
As you can see, it is a great time to be in the market for a new rewards card. Issuers are really stepping up their game and offering incredible perks to win your business. Card offers like this often don’t stick around forever so we suggest applying for one of these stand-out options today.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.