American Express Platinum Review: Is It Worth It?

Is The Platinum Card® from American Express worth it? Read this in-depth review to help you decide.

	Overall Score	4.1
	Rewards	4.0
	Fees	3.0
	Benefits	5.0
	Concierge	4.5

5-point scale (the higher, the better)

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Pros and Cons

• Travel benefits
• 80,000 bonus points after you spend $8,000 in first 6 months
• Concierge service

• $695 annual fee

Terms Apply
Compare | See Rates & Fees

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Bottom Line

Excellent card for frequent travelers

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In This Review:

• 3 Reasons Why It Is Too Much
  
• 10 Reasons Why It Is Worth It
  
• How the Platinum Card Compares

We'll explain why The Platinum Card® from American Express, a CreditDonkey partner, could be a must-have card for some people. And why it's not a good fit for others.

One thing's for sure: the Platinum Card is, in our opinion, one of the most prestigious rewards card.

But it's not for just anybody. It is one of the most expensive cards we have reviewed, with an annual fee of $695 (See Rates & Fees).

Nobody wants to pay an expensive annual fee.

So why would travelers even want to consider this card? Do they know something we don't?

For one thing, many choose AMEX Platinum to 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. If you're an avid traveler, you should apply now.

Pro Tip: To apply for the Platinum Card, you need to have a good or excellent credit score. This means you need a credit score of at least 700.

Current American Express Promotions

Is American Express Platinum Worth It?

Let's examine the pros and cons. We'll discuss the 10 reasons to get the Platinum AMEX below. But first, let's talk about 3 reasons why the Platinum might not be right for you.

3 Reasons Why $695 Is Too Much

• Not all airport lounges participate.
  For instance, if you fly American Airlines, you are out of luck. American Express and American Airlines ended their partnership, with American partnering with Citi instead.

  And United's partnership is with Chase.

  Is the AMEX Platinum still worth it then? It depends on how much you value the other benefits such as the $200 Airline Fee Credit (enrollment required), Platinum Concierge Service, and Centurion Lounges (which we will discuss below).

• You want more than 1x points. The American Express Platinum focuses more on luxury perks instead of a high rewards structure. If you are more interested in earning points than enjoying premium benefits (such as Platinum Concierge and Global Lounge Collection), then you may want to consider a card like the American Express Gold Card (which we will compare in-depth below).

  Good news, as of October 6, 2016, the Platinum Card offers 5x points for flights booked directly with airlines or with American Express Travel. Starting January 1, 2021, earn 5X points on up to $500,000 on these purchases per calendar year. You also earn 5x points on prepaid hotels booked with American Express Travel.

10 Reasons AMEX Platinum Is Worth It

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1. 80,000 Bonus Points: Earn 80,000 points after you spend $8,000 on purchases on your new card in your first 6 months.

   If the spending threshold sounds hard to pull off, this card may not be a good fit for you. You'd want to put around that amount or more each month to make good use of the Platinum.

   To take advantage of this promotion, visit American Express' secure website to apply now.

   What can you do with 80,000 points? That's $800 right there if you use those rewards toward a ticket using Amex's "pay with points" option.

   Another option is to transfer AMEX points to a frequent flyer partner program, such as Delta and JetBlue, or to a hotel loyalty partner program like Hilton. We'll explain below.

2. $200 Airline Fee Credit: You can save money when flying since cardmembers get up to $200 in airline fee credit per calendar year. To receive the statement credit, you need to enroll and select one qualifying airline. The credit helps cover incidental fees such as:
   • checked bags,
     
   • overweight/oversize baggage fees,
     
   • seat assignment fees,
     
   • phone reservation fees,
     
   • airport lounge day passes,
     
   • in-flight refreshments, and
     
   • change fees.
   

   $200 Airline Fee Credit

   Terms Apply

3. Rewards: You earn Membership Rewards. Earn 1 point for each dollar spent on eligible purchases. 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. Also, earn 5X points on prepaid hotels booked with American Express Travel.

   How the rewards work: You can redeem your points for a variety of rewards such as airline tickets, hotel stays, and merchandise.

   That's only the beginning. You can also transfer Membership Reward points to over a dozen frequent traveler programs such as Delta, JetBlue, and Hilton.

   Want to learn how to get started with airline miles and points? Read our Beginner's Guide to Airline Miles and Points.

4. Airport Lounge Access: With the American Express Global Lounge Collection, you get complimentary access to 5 airport lounge networks, including Delta Sky Club lounges, the Centurion Lounges, American Express International Lounges, and Airspace Lounges.

   Lounge access is one of the main reasons why many people would even consider the $695 annual fee worthwhile.

   • Centurion Lounge can be found at Dallas (DFW), Las Vegas (LAS), New York LaGuardia (LGA), Miami (MIA), Seattle (SEA), and San Francisco (SFO). With plans to open soon in more airports. You'll find amenities like showers, food and beverages, conference space, workspace and family room.

   • Delta Sky Club has 33 locations worldwide. You'll find showers available at the Los Angeles, Miami, Seattle locations. You'll find a self-service bar available at the Chicago O'Hare, Honolulu, Los Angeles, Memphis, Milwaukee, Philadelphia, and Santiago locations.

     To access Delta Sky Clubs, you must be traveling the same day on a Delta operated flight. Up to two guests may enter the club for an additional fee.

   • Priority Pass Select: You get to enroll in Priority Pass Select at no additional cost. When you enroll in Priority Pass Select, you have access to over 950 participating airport lounges worldwide - it does not matter what airline or class you fly.

5. Uber Savings: Good news Uber fans. You can earn up to a $15 credit each month (and in December, you can earn up to a $35 credit) when you add your AMEX Platinum Card as the payment method to the app. That's up to $200 for Uber rides or eat orders in the US annually.

   Keep in mind, unused credit will NOT carry over to the following month and the credit only applies to rides within the United States. This benefit is limited to the first Uber account in which the AMEX Platinum Card is added. Uber Cash and Uber VIP status is available to Basic Card Member only. Benefit renews annually. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.

6. Saks Fifth Avenue Credit: AMEX added more value to the Platinum card by giving you free shopping money each year. Each calendar year, you get up to $100 statement credit for purchases at Saks Fifth Avenue on your Platinum Card. You get up to $50 credit between January and June, and up to $50 credit between July and December. There is no minimum purchase required.

   You must enroll in this benefit from your Platinum account. The $100 credit is shared between the Basic Card Member and any additional card members (i.e. authorized users don't get their own credit).

7. You can get credit toward either Global Entry or TSA Pre (which help participants passengers get through immigration or security quickly because they have been deemed "low risk").

   Note: 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.

   Tip: What's the difference between Global Entry and TSA Pre? At participating airports, TSA Pre helps expedite security screening while Global Entry helps expedite customs and border processing. Between signing up for Global Entry or TSA Pre, we recommend Global Entry if you qualify. Global Entry is more expensive, but it includes TSA Pre. Here is a link to the eligibility requirement for Global Entry.
   

8. Platinum Concierge: This could be a very valuable feature if you make use of it. Think of it as an assistant. In our busy lives, little tasks could take up too much time and energy. Instead of doing it yourself, have someone else help make dining reservations, buy tickets to select concerts or sporting events, or track down a bouquet for someone special.

   If you're traveling, you can make it less stressful for yourself by using the concierge service to arrange shuttle transportation to your hotel and nail down restaurant reservations.

9. You can save money when you travel:
   • This card does not charge a foreign transaction fee (See Rates & Fees), while some cards will charge 3% or so on every purchase you make while overseas.

   • AMEX's International Airline Program provides savings on premium cabins booked through American Express Platinum Travel Service with 15+ participating airlines. This is good for both refundable and non-refundable fare purchased through the program. You can purchase up to 8 tickets. You have to pay American Express a non-refundable service fee of $39 per ticket.

   • 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.

   • You get $100-$300 shipboard credit per stateroom when you book an eligible cruise of 5 nights or more with Amex Travel. The credit can be used towards shore excursions, spa services, on-board specialty food and drinks, on-board shopping, and even gratuities.

10. You can add additional users. For the traveling family, one less-mentioned benefit is the ability to add up to 3 authorized users to your account for $195 per year (See Rates & Fees). Your additional Platinum cardholders get Airport Lounge Access too. Keep in mind, that additional users do not get the airline fee credit.

    You can add an Additional Gold Card to your Platinum Card account, for no annual fee. That way you can earn Membership Rewards points on the purchases made on both cards. Keep in mind, the additional Gold Card members do not have access to AMEX Platinum benefits such as lounge access.

11. You get status at Marriott, Hilton, Avis, Hertz, and National.
    • Marriott Bonvoy Gold is usually for frequent Marriott guests. But with the Platinum card, you get Marriott Gold Elite Status (enrollment required).

    • Prefer Hilton instead? You are in luck. If you have the Platinum Card, you can enroll to enjoy complimentary Hilton Honors Gold Status benefit. (enrollment required)

    • You also get status with Avis, Hertz and National. Enroll in Avis Preferred Club, Hertz Gold Plus Rewards and National Emerald Club Executive memberships. This is a way to help you score upgrades, subject to availability.

Benefits: Who This Card is Good For

Delta SkyClub - Miami Airport © TravelingOtter (CC BY 2.0) via Flickr

• Business travelers: This card is aimed at people who spend a lot of time in the air and want to travel with ease thanks to the Platinum Card's access to 5 airport lounge networks.

• Deal hunters: In addition to up to an airline fee credit annually, this card earns Membership Rewards points. You can transfer the points to select frequent flyer or hotel loyalty programs.

  Tip: Read our Beginner's Guide to Airline Miles and Points.

Click here for details and see if this card is right for you

How the Platinum American Express Compares

© CreditDonkey

With the Platinum's $695 annual price tag, it's worth shopping around before filling out the application. How does it stack up to other cards?

Is Platinum better than Gold?:

American Express Gold Card: The golden cousin of Platinum has a cheaper annual fee (See Rates & Fees). The bonus isn't as generous, but it has a more lucrative rewards structure (American Express Platinum vs Gold).

What you don't get is the same level of prestige and service. The Gold won't give you airport lounge access. The Platinum card is geared more toward frequent fliers and high spenders than the Gold card.

	American Express Platinum	American Express Gold
Annual Fee	$695 annual fee	$325 annual fee
	Terms Apply. See Rates & Fees	Terms Apply. See Rates & Fees
Bonus Deal	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 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Travel
Airline	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.	Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
Hotel	Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
Points	1 point for virtually every dollar spent.	Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
Airline Status	$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®. Enrollment required Complimentary access to 5 airport lounge networks including The Centurion® lounge network, The International American Express lounges, Delta Sky Club® lounges, Priority Pass™ Select, and Airspace Lounge. Enrollment required for Priority Pass Select.
Hotel Status	$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. Enroll for complimentary Marriott Bonvoy Gold Elite Status. Enroll for complimentary Hilton Honors Gold Status.
Grocery		Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
Restaurant		Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
	Apply Now	Apply Now

Is there a cheaper alternative?:

Chase Sapphire Preferred®: This is a credit card, so you can carry a balance if you need to.

With Chase Sapphire Preferred, you may find the rewards program to be more beneficial over the long run as compared to the Platinum. What you won't get is the same caliber of prestige and ease when you travel; there's no airport lounge access and no airline fee credit. So whether you go with this card over the Platinum could come down to how often you travel and with which airline (see American Express Platinum vs Chase Sapphire Preferred).

	American Express Platinum	Chase Sapphire Preferred
	Interest Rates and Fees
Purchase APR	See Pay Over Time APR See Rates & Fees	20.74% to 27.74% Variable based on your creditworthiness and other factors
Balance Transfers APR	N/A	20.74% to 27.74% Variable based on your creditworthiness and other factors
Annual Fee	$695 annual fee	$95 annual fee
	Terms Apply. See Rates & Fees
	Benefits and Features
Bonus Deal	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 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Travel		Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
Airline	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.	1:1 point transfer to leading airline and hotel loyalty programs
Bonus Hotel Rewards		$50 Annual Chase Travel Hotel Credit
Hotel	Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.	1:1 point transfer to leading airline and hotel loyalty programs
Points	1 point for virtually every dollar spent.	Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
Airline Status	$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®. Enrollment required Complimentary access to 5 airport lounge networks including The Centurion® lounge network, The International American Express lounges, Delta Sky Club® lounges, Priority Pass™ Select, and Airspace Lounge. Enrollment required for Priority Pass Select.
Hotel Status	$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. Enroll for complimentary Marriott Bonvoy Gold Elite Status. Enroll for complimentary Hilton Honors Gold Status.
Restaurant		3X points on dining
Airline Transfer Partners	Airline transfer partners include Delta, Hawaiian Airlines, Aeromexico, Air Canada, Air France, Emirates, Cathay Pacific (Asia Miles), Virgin Atlantic, Singapore Airlines, Etihad, Alitalia, All Nippon Airways and more.	Chase airline transfer partners include United Airlines, Southwest Airlines, JetBlue, British Airways, Air Canada, Air France, Singapore Airlines, Virgin Atlantic, Iberia, Emirates, and Aer Lingus.
	Apply Now	Apply Now

Bottom Line

© CreditDonkey

In our opinion, the Platinum Card is a prestigious travel-friendly card that offers travel benefits for frequent flyers, a consistent rewards program, and an exclusive concierge service that's tough to beat.

Be sure you'll use the card to its full potential to make up for the $695 annual fee before applying for this card. Terms and limitations apply.

Next Step: View the issuer's official application, terms, and details