American Express Platinum Review: Over $3,500 in Annual Value for Frequent Travelers

Amex Platinum Benefits

I’ve had the Amex Platinum for several years, and I don’t plan to cancel it because of the value I get from its numerous benefits. Even though the annual fee has gone up by $200, the new and improved credits more than justify the increase.

Welcome Offer

You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer. This is an impressive offer opportunity, but it does require a substantial amount of spending to unlock.

Airport Lounge Access

No travel credit card on the market gives you better airport lounge access than the Amex Platinum Card. You’ll get entry into over 1,400 locations around the world across multiple lounge networks, including:

• Amex Centurion Lounges
• Priority Pass lounges (enrollment required)
• Delta Sky Clubs (with an eligible same-day Delta boarding pass)
• Plaza Premium Lounges
• Escape Lounges
• Lufthansa Lounges (when flying on an eligible Lufthansa Group flight)

Airport lounges usually have amenities like free food and alcohol, fast Wi-Fi, conference centers, and sometimes even shower suites and dedicated children’s play areas.

I use my Amex airport lounge access constantly. The complimentary food and drinks save my family several hundred dollars in airport food expenses each year. I can’t remember the last time I paid for a meal at the airport.

Statement Credit Opportunities

The Amex Platinum Card’s “wow” factor comes from its myriad annual statement credit opportunities. Here are some highlights (enrollment required for some benefits):

• $300 Digital Entertainment Credit: Get up to $25 in statement credits each month after you pay for eligible purchases with the Platinum Card® at participating partners. This can be an annual savings of up to $300. To view participating partners, visit americanexpress.com/platinum. Enrollment required.
• $600 Hotel Credit: Get up to $300 back in statement credits semi-annually for up to a total of $600 per 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.
• $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 Card or any of the Additional Cards on your Platinum Card® account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details. Enrollment required.
• $200 Uber Cash+ $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• $209 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. You can cover the cost of a CLEAR Plus Membership with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with your Platinum Card®. Excluding any applicable taxes and fees. Subject to auto-renewal.
• Walmart+ Monthly Membership Credit: Receive a statement credit for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with your Platinum Card®. Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on your Platinum Card®. That’s up to $50 in statement credits from January through June and up to $50 in statement credits from July through December. No minimum purchase required. Enrollment required.
• $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
• American Express Global Lounge Collection®: Eligible Card Members can enjoy the benefits of the Global Lounge Collection, with a value of over $850 when you enroll into Priority Pass Select and make multiple visits to select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges each year. As of 07/2025.

My wife and I both hold the Amex Platinum Card. We link our cards to a single Uber account, so we get a total of $30 per month ($70 in December). We rarely rideshare, so we use the credits with Uber Eats — typically to buy diapers for our daughter. This way it saves us on purchases we’d otherwise have to spend on, anyway.

The addition of new credits from Resy, Oura, Lululemon and Uber One, combined with an improved hotel credit, makes this card more valuable than ever.

Elite Status

Just for holding the Amex Platinum, you’ll earn elite status with multiple travel programs after you enroll:

• Marriott Gold status: Receive 25% bonus points on eligible paid stays, 2 p.m. late checkout and enhanced room upgrades when available.
• Hilton Gold status: Receive 80% bonus points on eligible paid stays, food and beverage privileges and space-available room upgrades.
• The Leading Hotels of the World Leaders Club Sterling status: Receive perks at over 400 independent luxury hotels, including upgrades when available, daily breakfast for two and on-property benefits.
• Rental car elite status: Receive elite status with Hertz, Avis and National to get perks like car upgrades and bonus points for paid reservations.

Travel Insurance

True travel cards offer helpful travel insurance. The Amex Platinum Card offers some of the best. Highlights include:

• Trip delay insurance: If your flight is delayed by at least six hours — or requires an overnight stay — you’ll get up to $500 in reimbursements for “reasonable expenses” such as a hotel night, meals or a phone charger (maximum two claims per 12 consecutive month period).
• Trip cancellation and interruption insurance: You’ll be covered up to $10,000 per covered trip (max $20,000 per 12 consecutive month period) when you buy prepaid nonrefundable travel that’s interrupted or requires you to cancel for a covered reason such as jury duty, sickness or severe weather.
• Rental car insurance: The Amex Platinum offers secondary rental car insurance. That’s admittedly subpar when it comes to a travel credit card — but for a nominal flat fee per rental, you can opt into Amex’s Premium Car Rental Protection, which is the most comprehensive credit card rental car insurance offered by a card.

Exclusive Booking Platforms

• Amex Fine Hotels & Resorts: Amex curates its own collection of fancy properties at which you can get elite-esque benefits when booking through American Express Travel®. You’ll get free breakfast for two, room upgrades when available, a unique property credit (typically worth $100) and more.
• Global Dining by Resy: You can get enhanced benefits at participating restaurants just for adding your Amex Platinum Card to your Resy profile. Think hard-to-get reservations or priority notifications when a table becomes available.
• Events With Amex: You can buy tickets to certain concerts, sporting events and other exhibitions before everyone else with presales and exclusive ticket access. (While supplies last)

Amex Platinum Drawbacks

Large Annual Fee

The Amex Platinum’s most glaring drawback is its steep $895 membership fee. Even for the best premium credit cards, that’s a pretty penny. But again, if you can organically use even a fraction of the card’s benefits each year, it may very well save you money in the long run.

Statement Credits Are Doled Out Incrementally

Yes, the Amex Platinum comes with over $3,000 in annual value — but the way many of the statement credits are awarded is a bit frustrating. Many are trickled out gradually instead of all at once. For example, the “up to $300 in Digital Entertainment Credits” are given in $25 monthly chunks. And the up to $400 in annual credits for dining at U.S. Resy restaurants are doled out as up to $100 per quarter.

Poor Return Rate for Most Purchases

The Amex Platinum Card’s only bonus categories are travel-related. You’ll earn:

• 5 points per dollar on flights booked directly with airlines or via Amex Travel® (up to $500,000 in spending per calendar year, then 1x)
• 5 points per dollar on prepaid hotels booked through AmexTravel.com
• 1 point per dollar for all other eligible purchases

Who Is the Amex Platinum Best For?

Depending on your situation, the Amex Platinum may be either a steal or a money pit. If you answer yes to the following questions, it’s likely worth the pickup:

• Do you travel often? The Amex Platinum Card is a travel-heavy card. Its most valuable benefits are related to travel. If you only take trips once or twice per year, you’re not getting maximum value from the card.
• Will the card’s statement credits save you money? There’s a difference between “value” and “savings.”
• Do the Amex Platinum’s annual credits play into your spending, or will you have to make purchases you wouldn’t otherwise make? If you can jusity the card’s annual fee with the statement credit opportunities alone, it’s a no-brainer.
• Do you value travel insurance? If you otherwise pay for travel insurance (at checkout when purchasing flights, for example), a top travel insurance credit card like the Amex Platinum can save frequent travelers big time.

Alternatives to the Amex Platinum

If the Amex Platinum Card doesn’t quite do it for you, there are plenty of other premium travel rewards cards to choose from. For example:

• Capital One Venture X Rewards Credit Card: The Venture X charges a more reasonable $395 annual fee and offers many similar benefits to the Amex Platinum. You’ll get comparable travel insurance, access to Priority Pass when you enroll and Capital One airport lounges, and hundreds of dollars in annual travel credits. Plus, you’ll receive 10,000 bonus Capital One miles (worth at least $100 in travel) after every cardmember anniversary.
• Chase Sapphire Reserve®: With a $795 annual fee, the Sapphire Reserve offers excellent benefits, including solid airport lounge access and hundreds of dollars in easy-to-use travel credits each year. You’ll even get Chase Sapphire travel insurance that outperforms the Amex Platinum.