The Platinum Card® from American Express: Worth It?

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If you’ve glanced at the $695 annual fee (see Rates & Fees) with The Platinum Card® from American Express and thought, “Is this really worth it?“—you’re not alone.

But after diving deeper into the Amex Platinum, it’s clear that it’s not just another credit card — it’s a powerhouse for anyone serious about travel and luxury experiences.

Yes, that annual fee is steep, but when you break it down, the value packed into this sleek piece of metal is hard to ignore. Keep reading to see for yourself or learn more HERE.

A Welcome Offer Worth the Hype

If you’re a crafty credit card user, this welcome offer is tough to beat.

New card members can earn 80,000 Membership Rewards® Points after spending $8,000 on eligible purchases in the first 6 months. 

But here’s where things get REALLY interesting — Amex’s Membership Rewards points are some of the most valuable in the game, especially when you start exploring transfer partners. By transferring your points to partners (ex. airline frequent flyer or hotel rewards accounts), you can typically maximize value. Instead of simply redeeming points through the Amex travel portal, you can redeem them for higher-value travel options like premium cabin seats or luxury hotel stays.

Picture this: using your points to book a luxury stay at a tropical resort or scoring a one-way business class flight to Europe. The possibilities are endless when you know how use your points strategically, and trust me, it’s a game worth mastering.

Here’s How You Master The Points Game

Now, the welcome offer is just the beginning. The Amex Platinum is a points-earning machine that rewards you for the way you live and travel. Here’s how it breaks down:

• 5X Membership Rewards® Points on flights booked directly with airlines or through Amex Travel
• 5X Membership Rewards® Points on prepaid hotels booked through Amex Travel
• 2X Membership Rewards® Points on other eligible travel booked through Amex Travel
• 1X Membership Rewards® Points on all other purchases

If you’re someone who travels frequently, those 5X Membership Rewards® Points add up fast, helping you build your rewards stash in no time. Imagine booking just $1,000 in flights and netting 5,000 points—worth approximately $50. 

Not too shabby, right? Learn more HERE.

You Can Make The $695 Annual Fee… Vanish?

When considering the Amex Platinum, I often hear people say something along the lines of, ‘The Amex Platinum is sweet, but that $695 fee? Waaaay too much.’ 

And just like that, they dissociate and never consider the card again. But what if I told you that you can make that $695 annual fee disappear faster than you think? 

Let’s break it down.

The Amex Platinum offers a range of benefits that, when fully utilized, can fully offset the annual fee. Here’s a closer look (Terms Apply):

• Airline Fee Credit: Get up to $200 back each year on incidental fees with a designated U.S. airline. Whether it’s checked baggage, seat assignments, or lounge passes, this credit has you covered.
• $200 Uber Cash: Platinum Card® Members can get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card® to your Uber account to get started. Available to Basic Card Member only. 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. (to receive this benefit you must have downloaded the latest version of the Uber App and your eligible Amex Platinum must be a method of payment on your Uber account. The Amex Benefit may only be used in the United States.)
• Global Entry or TSA PreCheck Credit: 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.
• Hotel Credit: Get up to $200 back in statement credits each year when booking a prepaid stay through Amex Fine Hotels + Resorts or The Hotel Collection on Amex Travel.
• $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, and The Wall Street Journal. Enrollment required.
• $199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.

These credits alone can easily offset the annual fee, especially if you’re maximizing their use throughout the year. In fact, if you’re strategic about it, you might find yourself coming out ahead.

Other Perks That Make The Platinum Shine

Beyond the rewards points and credits, the Amex Platinum offers a range of benefits that make it a standout choice to enhance the travel experience:

• Global Lounge Access: From access to over 1,300 airport lounges worldwide to elite status with hotel programs and car rental agencies, this card opens doors (literally) that you didn’t even know existed. 
• Elite Hotel and Rental Car Status: Enjoy benefits at top hotels and car rental agencies, such as Marriott Bonvoy™ Gold Elite Status and Hilton Honors™ Gold Status. Enrollment required.

And let’s be real—there’s something pretty satisfying about breezing past the crowds to relax in a fancy airport lounge before your flight.

Ready To Take The Leap?

If you’ve made it this far, you’re probably seriously considering the Amex Platinum. And I don’t blame you—it’s a fantastic credit card with a lot to offer. 

If you’re ready to start your journey, you can learn more about The Platinum Card® from American Express HERE and earn 80,000 Membership Rewards Points after you spend $8,000 on purchases within the first 6 months.

Remember: the key to maximizing any credit card is to understand your spending habits and align them with the card’s benefits. With a little strategic planning and a passion for travel, the Amex Platinum could be your golden platinum ticket to unforgettable experiences and unmatched rewards.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.

Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.