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The Platinum Card® from American Express review: Is it worth it?

This card offers all the perks you'd expect from a luxury card. Airport lounge access, special hotel benefits, concierge services, statement credit opportunities and more.

By Jennifer Doss  CardRatings Editor  | Updated

The Platinum Card® from American Express

The Platinum Card® from American ExpressSponsored card
Our Rating:   
Good, Excellent
on American Express's secure website

CardRatings Editor's Analysis: Pros & Cons

  • Flight delays are never fun, but with access to the Global Lounge Collection® you can wait for the next available flight in comfort thanks to complimentary access to hundreds of airport lounges worldwide.
  • Speaking of airplane travel, the Platinum Card® from American Express provides up to $200 a year in statement credits to cover incidental airline charges, like baggage fees and in-flight refreshments, charged on the card with a pre-selected airline. There are also numerous other statement credit opportunities for other travel-related and even everyday charges.
  • The annual fee is waived for active military personnel.
  • If you anticipate needing to carry a balance, you might want to consider something different. Unlike typical credit cards, this card allows you to carry a balance for certain charges, but not all.
Terms and Limitations Apply

Let's get this out of the way right up front: The Platinum Card® from American Express isn't for everyone. It carries a sizable annual fee at $695 and requires a level of fiscal responsibility many consumers find too daunting to take on. But for those with excellent credit and strong fiscal discipline, the Platinum Card® offers unique perks and benefits that make membership well worth it, and that led us to name this card a 2021 editor's choice pick for the Best Luxury Credit Cards and it routinely makes our Best Credit Cards for Airport Lounge Access as well. (American Express is a CardRatings advertiser; See Rates and Fees; terms apply.)

AMERICAN EXPRESS PLATINUM CARD® BENEFITS

The Platinum Card® from American Express has no interest rate since cardholders are expected to pay their balances in full at the end of each billing period. Unlike typical credit cards, this card allows you to carry a balance for certain charges, but not all. It should also be noted that the card does not come with a spending limit unless the cardholder specifically requests one. Obviously, these factors combined mean this card requires excellent fiscal discipline. Since the card must be paid off each month, however, it could also help you avoid crippling debt or the accumulation of hundreds or even thousands of dollars in interest payments.

The annual fee is high enough to give some consumers pause when considering the American Express Platinum Card®, but a quick look at some of the card's benefits shows that membership easily pays for itself if you utilize the full gamut of perks and features.

Some of those features include:

  • Earn 100,000 Membership Rewards® points after you spend $6,000 on purchases on your new card in your first six months of card membership
  • Earn 10x points on eligible purchases on your new card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first six months of card membership
  • 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; 5X Membership Rewards® Points on prepaid hotels booked on amextravel.com; and 1X point per $1 on all other purchases
  • 24/7 Platinum Club Concierge service to help with travel arrangements, obtaining tickets to events or even picking out the perfect gift for that special someone

This card also offers a plethora of additional value – more than $1,400-worth in a year. Many of these came about as part of a refresh of the card, making it even more valuable for everyday cardholders.

  • Hotel credit – up to $200 back in statement credit each year when you use your card for prepaid bookings with American Express Travel at Fine Hotels + Resorts or The Hotel Collection properties
  • Incidental airline credit – up to $200 each year to cover incidental airline charges with a pre-selected airline.
  • Up $179 statement credit to cover your CLEAR® membership.
  • A credit of $100 or $85 for your Global Entry or TSA Pre✓®, respectively, application fee
  • Digital entertainment credit – Up to $240 per year ($20 per month) when you use your Platinum Card® to pay for eligible purchases at one or more of the following: Peacock, Audible, SiriusXM and The New York Times.
  • Equinox credit – up to $300 in statement credits each year for eligible Equinox memberships paid for with your card.
  • Terms apply; enrollment required for some benefits

Top Features

 Rewards
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. 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 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
 Bonus Rewards
Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.
 Annual Fee

AMERICAN EXPRESS PLATINUM REQUIREMENTS

The Platinum Card® from American Express requires good to excellent credit to get approval, but other factors are certainly considered in the application process including payment history of revolving credit, your total open cards, and the average age of accounts open. Also, because this isn't like typical cards where you can carry a balance each month, there are no strict income requirements to qualify for the card. However, as it is a luxury card with a high annual fee, income may play a role in American Express’ decision to approve you for the card in conjunction with other factors.

AMERICAN EXPRESS PLATINUM TRAVEL BENEFITS

If you are a road warrior or just a serious wanderluster, The Platinum Card® from American Express has you covered. Some of its main travel benefits include:

  • A $200 airline fee credit, up to $200 per calendar year in baggage fees and more with one pre-selected, qualifying airline.
  • $200 hotel credit each year when using your card for prepaid bookings with American Express Travel at Fine Hotels + Resorts or The Hotel Collection properties.
  • Enjoy Uber VIP status and $15 each month, plus a bonus $35 in December, in Uber Cash for your rides and Uber Eats orders in the U.S.. That can be up to $200 in annual Uber savings.
  • A credit of $100 or $85 for your Global Entry or TSA Pre✓®, respectively, application fee.
  • A credit of up to $179 for your CLEAR® membership.
  • Access to the Global Lounge Collection®, including Centurion Lounge® locations around the world.
  • Car rental loss and damage insurance.
  • Baggage insurance plans.
  • No foreign transaction fees. (See Rates and Fees; terms apply)
  • Platinum travel service providing custom itineraries and tailored recommendations to help you make the most of your travels.
  • And more!
  • Terms apply; enrollment required for select benefits

AMERICAN EXPRESS PLATINUM HOTEL BENEFITS

For those looking for truly luxurious hotel experiences, it is difficult to beat the benefits offered by The Platinum Card® from American Express. The card comes with complimentary Marriott Bonvoy™ Gold Elite status and Hilton Honors Gold status which provides a variety of benefits from late checkouts, enhanced room upgrades, and complimentary in-room wifi. Earning hotel elite status the old fashioned way can be quite difficult with the number of nights required by programs, so having this perk automatically included is a huge benefit for travelers who would otherwise have difficulty getting there.

It’s not just enhanced status that comes with the card though as you also get access to the Fine Hotel + Resorts® program which includes an exclusive suite of benefits. Benefit examples include daily breakfast for two, room upgrades at check-in when available, as well as a unique amenity or service (valued at $100) such as a spa or food and beverage credit.

Still not sold? Well, to add to the already incredible hotel perks offered by the Platinum Card®, it also includes access to The Hotel Collection with American Express. This collection of hotels allows members to pay for rooms with points, or earn 5X Membership Rewards® points when making a prepaid booking with their card. With a minimum of two night stay booked, guests receive a $100 hotel credit to spend on qualifying dining, spa, and resort activities as well as a room upgrade at check-in when available. With all of these benefits combined, The Platinum Card® from American Express is in a league of its own when it comes to hotel perks. Enrollment required for select benefits.

AMERICAN EXPRESS PLATINUM AIRPORT LOUNGES

With complimentary access to the Global Lounge Collection®, including access to Priority Pass™ Select (enrollement required) and exclusive access to proprietary lounge locations around the world, The Platinum Card® from American Express has some of the best lounge perks in any credit card available. Some other cards on the market also provide Priority Pass™ Select membership, which in itself is a huge perk with over 1,200 lounges available worldwide and the ability to bring guests with you to enjoy complimentary food, drinks and wifi access; however, the Platinum Card® sets itself apart from the rest with its access to the Global Lounge Collection® as well as exclusive American Express Centurion® Lounges, offering travelers more lounge options than any other card on the market.

AMERICAN EXPRESS PLATINUM FOREIGN TRANSACTION FEE

The Platinum Card® from American Express has no foreign transaction fees, giving you peace of mind to use the card while you travel internationally. This benefit may seem like a minor one, but it really adds up compared to cards that do have foreign transaction fees. For example, cards without this perk generally charge around 3% on any foreign transactions made. For your dream vacation to the Swiss alps, if you spend $5,000 on international purchases you could be shelling out around $150 on foreign transaction fees with a card that doesn't waive this fee, or you could save that money when using The Platinum Card® from American Express; See Rates and Fees; terms apply.

IS THE AMERICAN EXPRESS PLATINUM CARD® ANNUAL FEE WORTH IT?

The Platinum Card® from American Express annual fee is worth it, that is, if you can take advantage of the luxury travel perks and fee credits the card offers. If you are just an occasional traveler, or someone who is looking for a more basic rewards credit card, the $695 annual fee would likely be difficult to justify. However, if you are able to take advantage of the full annual airline fee travel credit (up to $200), the Uber Cash (up to $200), the credit for Global Entry (up to $100), and the Saks 5th Avenue credit (up to $100) you are already at $600 worth of perks without even taking into account any of the other benefits of the card. As mentioned earlier, new cardholders could enjoy more than $1,400-worth of value annually. For serious business or leisure travelers, the perks of the card more than make up for cost. Enrollment required for select benefits.

AMERICAN EXPRESS PLATINUM CARD® CARDHOLDER SCORES

CardRatings conducts a survey annually to learn what actual cardholders think of their cards. Here are the results:

Current Scores Past Scores
Overall Score 87.8 88.1
Rewards Program Satisfaction 8.7 8.8
Customer Service 8.8 9.1
Website/App Usability 8.5 8.2
Likelihood of Continuing to Use 9.0 8.8
Recommend to a Friend/Colleague 9.1 8.8

HOW THE PLATINUM CARD® FROM AMERICAN EXPRESS COMPARES TO OTHER CREDIT CARDS

American Express Platinum vs. Chase Sapphire Reserve®

For serious travelers that are looking for some of the best possible perks, the Chase Sapphire Reserve® card is a great alternative to The Platinum Card® from American Express.

With the Chase Sapphire Reserve® you get some serious travel benefits including a $300 annual travel reimbursement for travel purchases charged to your card each account anniversary year. Compared to the $200 airline incidental credit, $200 Uber Cash and $200 hotel credit on the Platinum Card® (terms apply), the Chase Sapphire Reserve® $300 credit is less in value but is reimbursed on any travel spend, which provides more flexibility. The Chase Sapphire Reserve® also provides up to $100 application fee credit for Global Entry or TSA Pre✔® as well and a complimentary Lyft Pink membership, a $199 minimum value.

As far as ongoing rewards go, Chase Sapphire Reserve® earns Chase Ultimate Rewards® points at a rate of 3X points for restaurants and travel purchases after you've earned your annual reimbursement and 1X point for all other purchases. Plus, earn 5X total points on air travel and 10X total points on hotels and car rentals when you book through Chase Ultimate Rewards®. If you are eating out a lot and want to earn maximum points for those purchases, the Chase Sapphire Reserve® is a great option to consider as the American Express Platinum Card® only earns 1X point on restaurant purchases. Additionally, with the Chase Sapphire Reserve®, points are worth 50% more when redeemed for travel through Chase Ultimate Rewards®. That means 60,000 points are worth $900 toward travel.

As far as welcome bonuses go, the Platinum Card® has the edge, earning 100,000 Membership Rewards® points after using your card to make $6,000 in purchases in the first six months of card membership, versus Chase Sapphire Reserve® earning you 60,000 points after spending $4,000 within three months.

American Express Platinum vs. American Express® Gold Card

With a more budget-friendly annual fee of $250, the American Express® Gold Card could be a good option for you if you're looking for perks but can't justify The Platinum Card® from American Express's annual fee.

As you might expect, the Gold version doesn't have as generous a perks package as its Platinum cousin, but don't move on just yet. New card members earn 60,000 Membership Rewards® after spending $4,000 on eligible purchases with their new card within the first six months, making the bonus points just a bit easier to attain than with The Platinum Card® from American Express.

American Express® Gold Card users don't receive the access to airport lounges, concierge service or many of the other special perks that come with the Platinum Card®, but the overall points program matches up well and may even be better for you depending on your spending habits. American Express® Gold Card members earn 4X Membership Rewards® points when dining at restaurants; 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X); 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com; and 1X Membership Rewards® point on everything else.

American Express Platinum vs. Delta SkyMiles® Gold American Express Card

The Delta SkyMiles® Gold American Express Card has a nice bonus right now and the spending threshold is much less than with The Platinum Card® from American Express. For a limited time the Delta SkyMiles® Gold American Express Card offers 70,000 bonus miles after you spend $2,000 in purchases on your new card in your first three months of card membership (offer expires 11/10/21). That spending threshold is considerably lower than the $6,000 you need to spend in six months on the Platinum Card® in order to earn 100,000 bonus Membership Rewards® Points. Plus, with the Delta card, you'll earn a $100 Delta flight credit when you spend $10,000 in a calendar year.

The points earned by the cards is also a key difference. Membership Rewards® Points earned through the Platinum Card® can be used for a lot of different things including transferring points to a variety of frequent traveler programs (including Delta), using points to book hotels and flights with American Express Travel, as well as the ability to pay with points on Amazon.com. The Delta SkyMiles® Gold American Express Card is more limited as the points can really only be used to book travel on Delta as well as with Delta’s travel partners. The Platinum Card® has the advantage in this area with very flexible point redemption options.

With 2X points earned on purchases made directly with Delta as well as on worldwide restaurant purchases (including delivery and takeout) and purchases at U.S. supermarkets, plus a free first checked bag on Delta flights, the Delta card provides unique perks that can be extremely useful for those who travel frequently on Delta. Plus, the annual fee ($0 introductory annual fee for the first year, then $99) is next to nothing compared to the Platinum Card®.

IS AMERICAN EXPRESS PLATINUM A GOOD CARD?

The Platinum Card® from American Express is a good card for travel rewards, but is specifically geared towards those that don’t mind a high annual fee. If you are an occasional traveler and don’t plan to take advantage of the perks offered by the card, it may not be a good fit for you. For people doing lots of domestic or international travel and who can take full advantage of the monthly Uber credits, airfare and hotel fee credits, and who want exclusive lounge access there are few cards that can compete with the overall value that The Platinum Card® from American Express provides.

Survey Methodology: CardRatings commissioned Op4G in September and October 2020 to conduct surveys among 1,746 cardholders nationwide. CardRatings website analytics from Jan. 1, 2020-Aug. 31, 2020 were used to determine a selection of the most popular cards and additional cards were added to add survey breadth. Responses to each of nine questions were given on a scale of 1-10 and respondents' scores were then averaged under broad topics. To determine the overall score, responses from questions 1-8 were summed and the answer to "How likely are you to recommend this card to a friend, coworker or family member?" was double weighted.

To see the rates and fees for the American Express cards mentioned in this post, please visit the following links: The Platinum Card® from American Express: See Rates and Fees; terms apply; Delta SkyMiles® Gold American Express Card: See Rates and Fees; terms apply; American Express® Gold Card: See Rates and Fees; terms apply

The Platinum Card® from American Express Compared to Other Travel rewards Cards

Apply online for Capital One Venture Rewards Credit Card
Apply online for Citi Premier® Card
Citi Premier® Card
Apply online for Chase Sapphire Reserve®
Chase Sapphire Reserve®
Rewards
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. 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 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel. 
Rewards
2 Miles per dollar on every purchase, every day. 
Rewards
Earn 3 Points per $1 spent at Restaurants and Supermarkets. Earn 3 Points per $1 spent at Gas Stations, Air Travel and Hotels. Earn 1 Point per $1 spent on all other purchases. 
Rewards
Earn 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases 
Bonus Rewards
Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. 
Bonus Rewards
Enjoy a one-time bonus of 60,000 Miles once you spend $3,000 on purchases within 3 months from account opening  
Bonus Rewards
Earn 80,000 bonus ThankYou® Points after you spend $4,000 in purchases within the first 3 months of account opening  
Bonus Rewards
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.  
Annual Fee
$695 
Annual Fee
$95 
Annual Fee
$95 
Annual Fee
$550 

Consumer Reviews

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Average Consumer Ratings

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2 Reviews
  1. Michael Gorman
     06/16/2012

    Great service, especially for travel and reservations, good offers at hotels, etc. No limit. Always available with limited waittime. Expensive to own one, but reassuring.


  2. Michael Gorman
     06/16/2012

    Great service, especially for travel and reservations, good offers at hotels, etc. No limit. Always available with limited waittime. Expensive to own one, but reassuring.


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