The Platinum Card from American Express: Do the Perks Justify the Fee?

By Jason Steele. Last updated 1 July 2021. 1 comment

This post contains references to products from our advertisers. We may receive compensation when you click on links to those products. The content is not provided by the advertiser and any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain. Please visit our Advertiser Disclosure to view our partners, and for additional details.


On the surface, a card with a $695 annual fee (See Rates & Fees) doesn't just seem extravagant, it might also seem wasteful. However, there's a reason The Platinum Card® from American Express is popular and used by savvy travelers. Let's take a look at what a premium card offers.

Why We Like This Card

  • Welcome Offer: 100,000 points after $6,000 spend in your first 6 months. Terms Apply.
  • Complimentary access to the Global Lounge Collection which includes 1300+ lounges at 500+ airports and 140 countries.
  • Over $1000 worth of credits for various expenses and fees.

How This Card Works

Cardholders earn 5X points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year, 5X points on prepaid hotels booked on American Express Travel, and one point for every dollar spent on eligible purchases. These points can be applied toward travel reservations, gift cards, or other products and services. Cardmembers can also transfer their points to miles with over a dozen different airlines.

(See also: 5 Best Premium Credit Cards)

Welcome offer: Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. Plus, earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership. Terms apply.

Over $1000 in Credits

These credits would more than cover the annual fee.

$200 Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel.

$240 Digital Entertainment Credit: Get up to $20 in statement credits each month at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.

$200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one qualifying airline.

$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 available to Basic Card Member only.

$300 Equinox Credit: Get up to $25 back each month on select Equinox memberships. Enrollment required.

Fee Credit for Global Entry or TSA Pre✓®: Card Members can receive up to $85 for TSA Pre✓® (every 4.5 years) or $100 credit for Global Entry every 4 years (but not both programs), depending upon the program the Card Member first applies for, for an application fee charged to an eligible Card.

$179 CLEAR® Credit: Use your Card and get up to $179 back per year on your CLEAR® membership.

Other Benefits

Reviewing this card's benefits is like examining a top-of-the-line Swiss Army knife. Along with the standard benefits that American Express is known for, like various travel insurances and purchase protections, this card offers a number of premium perks that you won't find with most other cards. So let me just touch upon what I find to be the highlights, but be advised that it would take me pages to describe everything.

Hilton Honors™ Gold Status and Marriott Bonvoy™ Gold Elite Status. Having gold status at hotel programs gives you exciting perks like upgrades, late checkout, and more. (See also: Best Credit Cards with Free Hotel Status Upgrades)

VIP treatment. Many cards offer some sort of special treatment, but this is the real deal. Membership includes 24/7 access to a personalized concierge service providing a range of services such as travel arrangements, dinner reservations, event ticket bookings, or directions. 

Airport Lounge Access. Get access to over 1,300 airport lounges around the world. Membership in just one of these airport lounge programs can start at $500. Cardholders get access to the Global Lounge Collection, which includes the Centurion lounge network, Delta Sky Clubs, Priority Pass Select, and more. (See also: Best Credit Cards with Free Airport Lounge Access)

Saks Fifth Avenue Credits. Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your card. Enrollment required.

Who This Card Is Best For

An ideal user of this card is someone who travels frequently and can use many of the lounge access and travel rewards features of this card. When you think about it, it doesn't take that much business or leisure travel to rack up $200 in fees especially if you frequently use airport lounges.

For rates and fees of The Platinum Card® from American Express, please click here.

Click here to learn more and apply for The Platinum Card® from American Express today!

Like this article? Pin it!

 

The Platinum Card from American Express: Do the Perks Justify the Fee?


5
Average: 5 (2 votes)
Your rating: None
ShareThis
Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Guest's picture

My parents have the AMEX platinum and it has served us pretty well. It is convenient for travel, my parents travel a lot for work and I go to school out of state so I fly back and forth frequently so we rack up miles pretty quickly. It is also easy to use overseas, I signed up for a Discover card with the intention of using it as Diners Club in Italy for Spring Break, and it was found nowhere and was impossible to use. I called Amex and was able to easily get oversea charges approved and take out cash from ATMs.