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The Platinum Card® from American Express offers over $1,000 in statement credits for things like hotel stays, a Walmart+ membership, Uber Cash, and more.
What we think: The annual fee of the Amex Platinum Card is exorbitant, at $695, but it has the potential to be tremendously valuable in return. If you’re willing to plan how to track and utilize the specific statement credits and other perks, this card could make an exceptional addition to your wallet.
Platinum Card members get free American Express travel insurance* benefits and complimentary hotel elite status with Marriott and Hilton.
If you’re approved for the American Express Platinum Card, expect to pay an annual fee of $695.
The Platinum American Express Card gives you access to airport lounges in New York, Miami, Seattle, Los Angeles, and other major cities.
To qualify for the Platinum Card, you must have a high credit score of about 700 or better.
SUMMARY
With thousands of dollars in statement credits available, valuable travel benefits, and a high reward potential on eligible travel purchases, The Platinum Card® from American Express offers some seriously generous perks.
We created this Amex Platinum Card review to give you an in-depth look at its benefits and details.
Pros & Cons
Pros
Excellent rewards rate for travel purchases
Qualify for $1,500+ in statement credits
Very generous welcome offer
Cons
High annual fee of $695
Many statement credit offers are too specific and hard to use
Earn 5X Membership Rewards® points for flights booked directly with airlines or with American Express Travel (on up to $500,000 per calendar year), 5X points on prepaid hotels booked with American Express Travel, and 1X points on other purchases. $695 annual fee.
Is Amex Platinum worth it?
The Platinum Card from American Express is well worth it if you travel frequently and are dedicated enough to use more than $695 worth of benefits each year.
Advantages of the Amex Platinum Card
You get airport lounge access in major cities around the world, from Los Angeles to Hong Kong.
Card membership entitles you to anywhere from 1X to 5X in rewards points on eligible purchases.
Platinum Card members receive elite status with Marriott, Hilton and other partner brands.
It doesn’t come with a preset credit limit.
American Express offers annual statement credits on several types of purchases.
Your membership rewards include $15 in Uber Cash every month.
American Express doesn’t charge any foreign transaction fees on purchases made with the Platinum Card.
Platinum Card members receive a variety of benefits and perks from American Express. Many of them are related to travel, but you can also earn rewards points and statement credits on shopping, gym memberships, fitness equipment and digital entertainment.
Here’s an overview of what you can expect as a cardholder.
Amex Platinum credits
With Platinum Card statement credits, you can easily earn more in rewards than you spend on the annual fee for this credit card.
These are just a few of the credits available to Amex members who have the Platinum Card:
24/7 concierge service: Amex offers 24/7 concierge service to its Platinum Card members, making it easier to update your travel arrangements or learn about hidden gems that you won’t find in a travel magazine or tourist guide.
$200 per year in Uber Cash: Platinum Card members receive $15 in Uber Cash every month, plus a $20 bonus in December. You can use your credits to order rides from Uber or food from Uber Eats.
$155 per year Walmart+ credit: If you use your Platinum Card to pay for a Walmart+ membership, Amex will give you a statement credit that covers the full cost each month ($12.95 plus any applicable sales taxes).
$300 per year Equinox credit: Stay fit with the Equinox credit, which gives Platinum Card members up to $300 per year in statement credits. You can use these credits to purchase a membership at your local Equinox club or enroll in an Equinox+ subscription. Equinox+ gives you access to live and on-demand fitness classes.
$240 per year digital entertainment credit: If you have this credit card, take advantage of the $240 digital entertainment credit. American Express gives you up to $20 in statement credits each month to cover the cost of Hulu, Peacock, Disney+ and other entertainment options.
$300 SoulCycle credit: American Express offers up to $300 in statement credit when you use a Platinum Card to purchase a SoulCycle At-Home Bike.
$100 Saks credit: If you love to shop at Saks Fifth Avenue or Saks.com, use your Platinum Card to make each purchase. As a cardholder, you’re entitled to $100 in statement credits each year – $100 between January and June, and $100 between July and December.
Amex Platinum travel benefits
If you travel frequently, you can’t beat the American Express travel benefits included with this credit card.
These are just some of the benefits available to Amex members:
$200 airline fee credit: The American Express Platinum Card entitles you to up to $200 in airline fee credits per year, which is even better than some of the best airline credit cards.
$100 Global Entry fee credit (every 4 years): The Transportation Safety Administration Global Entry program allows certain travelers to go through an expedited customs process when returning to the United States from other countries. Your American Express Platinum Card entitles you to a $100 statement credit to cover your Global Entry application fee. Card members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
$85 TSA PreCheck fee credit (every 4.5 years): TSA PreCheck gives low-risk travelers access to expedited security screening processes at U.S. airports. This American Express credit card offers an $85 statement credit to cover the cost of your PreCheck application fee (read more in our comparison of TSA PreCheck vs Global Entry).
$189 CLEAR® Plus credit: The American Express Platinum Card is one of the only cards to offer a $189 statement credit each year to be used toward a CLEAR® Plus membership (read more in our comparison of TSA PreCheck vs CLEAR).
Trip cancellation and interruption insurance: Complimentary American Express travel insurance is one of the many travel benefits available to Platinum members. If you have to cancel or interrupt a trip due to a covered loss, Amex will reimburse up to $10,000 of your nonrefundable travel expenses. For example, if you break your leg on a mountain-climbing expedition, your Amex credit card should cover some of your unused trip expenses.
Airport lounge access
American Express maintains a Global Lounge Collection with more than 1,400 airport lounges.
Amenities vary by location, but airport lounges typically offer a comfortable place to relax while you wait for your flight to board.
Included lounges are:
The Centurion® Lounges and Escape Lounges
Delta Sky Clubs (card members must arrive within 3 hours of a departing or arriving Delta flight)
Lufthansa Lounge (card members must arrive within 3 hours of a departing or arriving Lufthansa flight)
Additional Global Lounge Collection Partner Lounges
Amex Platinum hotel benefits
Although it’s not specifically a hotel credit card, with this credit card from American Express, it’s a little easier to find the right hotel for your business trip or family vacation.
These are just a few of the hotel-related benefits included with your membership rewards.
$200 hotel credit: If you use your American Express credit card on certain prepaid hotels, you’ll receive a $200 statement credit each year. This includes Fine Hotels + Resorts and properties in The Hotel Collection. The Hotel Collection requires a minimum two-night stay.
Hotel Collection benefit: When booking a stay of at least 2 nights at one of these hotels, you’ll get an automatic upgrade (if available) and a $100 credit to be used at the hotel.
Marriott Gold Elite status: Your American Express credit card also gives you access to Marriott Bonvoy Gold Elite status, which unlocks several benefits, including complimentary late checkouts, 25% more points on every eligible purchase, free in-room Wi-Fi and enhanced room upgrades when available.
Hilton Gold status: You can access automatic Gold status with Hilton when you enroll. This entitles you to complimentary upgrades at check-in, a fifth night free, daily food and beverage credits, and more.
Amex Platinum car rental benefits
American Express is one of just a few card companies offering rental car insurance to its members. If you have this credit card, you’re eligible for rental loss and damage coverage, which pays certain expenses related to accidental damage and vehicle theft.
To use this Amex benefit, you must pay for the rental car with your Platinum Card.
Note: 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.
Amex Platinum military benefits
The Amex Membership Rewards program includes additional benefits for active-duty servicemembers.
For example, if you’re deployed after you’re approved for an American Express credit card, the company may waive your $695 annual fee or provide other protections available under the Servicemembers Civil Relief Act. American Express may also reduce your interest rate while you’re on active duty, making it easier to manage your finances.
Other Amex Platinum perks
When you have a Platinum credit card, you have access to even more perks, such as concierge service, invitation-only events and preferred seating.
If you use the concierge service, you’ll connect with an experienced professional who can help source tickets to concerts and other performances, make transportation arrangements, recommend local restaurants, arrange for pet care and assist you with many other travel-related tasks.
The Invitation Only program gives every American Express member with an eligible credit card the chance to participate in curated experiences. In most cases, Amex doesn’t make these packages available to the general public.
With Preferred Seating, you have access to premium seats for sporting events, musical performances and other special events.
American Express Platinum welcome offer
The amount of the welcome offer varies based on your credit score, income and other factors. Currently, the Classic Platinum Card comes with 80,000 bonus points if you spend $6,000 within your first 6 months of membership. You may qualify for a better bonus offer through the American Express website or by using a tool like CardMatch.
Depending on how you use your Membership Rewards points, the bonus has anywhere from $560 to $800 in cash value, which means you could make back your annual fee in as little as a few months.
Earning Amex Platinum rewards points
Every time you use your card, you earn even more reward points. Here’s how much you can earn for each type of purchase:
Flights: Earn 5X points per dollar spent on flights booked directly with airlines or with American Express Travel
Hotels: Earn 5X points per dollar on prepaid hotels booked through American Express Travel
Other eligible travel expenses: Earn 2X points per dollar on eligible expenses booked through American Express Travel
All other eligible purchases: Earn 1X point per dollar on all other eligible purchases
If you use American Express Travel to buy a round-trip airline ticket worth $900, you’ll receive 4,500 points (900 x 5). The same rule applies to a hotel stay worth $1,200. If you make your reservation with American Express Travel, you’ll receive 6,000 rewards points (1,200 x 5).
Redeem Amex Platinum reward points
You have several options for redeeming your rewards points.
If you want to use points toward a recent purchase, log in to your account and click “Use points for eligible purchases.” Select an eligible purchase and click Submit. You’ll receive a statement credit. If a purchase you made within the last 12 months isn’t listed in your online account, call the toll-free number on the back of your card for assistance.
You can also use rewards points to book one-way or round-trip flights. This benefit is part of the Fixed Points Travel Program. Amex is a unique issuer because it doesn’t have any blackout dates or seat restrictions. You can even book a flight at the last minute.
Amex Platinum fees, rates & limit
Let’s look at Platinum fees, interest rates and card limits (see rates and fees).
Amex Platinum card fees
This card has two fees: the annual fee, and a fee to add an authorized user. The annual fee is $695, while the fee to add an authorized user is $175. Your $175 fee covers up to three additional users. If you want to add more, you need to pay another $175 for each additional person.
Amex Platinum interest rate
The APR on this card ranges from 21.24% to 28.24% based on your credit score and other factors at the time you apply for an account. If you take out a cash advance, the APR is 29.99%, but it may vary based on changes in the market prime rate. Cardholders with late payments or returned payments are subject to a penalty rate of 29.99% for at least 6 months.
Amex Platinum card limit
There’s no preset American Express Platinum card limit. If you want to spend $5,000 one month and $20,000 the next, you can, as the lack of a credit limit gives you unmatched flexibility. You just have to pay the $695 annual fee.
American Express is more than just a credit card issuer
The first step in growing and maintaining consistent savings is to understand your personal finances through checking and savings accounts, credit cards, and more.
To become a Platinum member, you must have a high credit score and plenty of income to cover your purchases. In fact, you shouldn’t apply unless you have a credit score of at least 700. If you’re interested in improving your credit score, you might find useful tips in our guide on how to raise your credit score.
Because it has no preset credit limit and comes with a host of luxury benefits, it’s difficult to become a Platinum member.
Amex Platinum has a higher annual fee than many of the best credit cards, but it also offers unparalleled travel benefits and a robust rewards program. For example, your card gives you access to Delta Sky Club, The Centurion Lounge and several other airport lounge options.
Amex isn’t the only issuer to offer a card with no credit limit, but the Platinum Card is also one of the most flexible options. You can use it to defray the cost of travel, protect yourself against unforeseen events or access professional trip-planning assistance.
If your main goal is to find a card to use for business purposes, there are a variety of Amex business credit cards you can choose from that can provide additional business-related protections and perks.
One of the main drawbacks is that it’s difficult to qualify for this credit card. Even if you can pay the annual fee, you still need to show that you have enough income to manage a card with no credit limit.
Amex Platinum vs. Chase Sapphire Reserve
The Amex Platinum Card is better for frequent travelers, but the Chase Sapphire Reserve is better if you’re looking for points on everyday purchases. Both cards have high annual fees but the Platinum’s is slightly higher, at $695, while the Chase Sapphire Reserve charges $550. Both cards have exceptional reward rates and travel perks. The Platinum offers more statement credits but the Reserve offers a flexible $300 annual travel credit.
The Amex Platinum Card is ideal for frequent travelers, while the American Express® Gold Card is better for everyday spending. If you’re a frequent traveler, we recommend Platinum, as its travel rewards and statement credits are extremely valuable. If you don’t travel super often but tend to dine out or shop at U.S. supermarkets, the Gold could be a better option for you. They both have lucrative welcome offers and both earn Membership Rewards Points. The annual fee of the Amex Gold card is decently lower than the Platinum, at only $250 per year (see rates and fees).
You should get the Platinum Card if you have a high credit score and plan to use more than $695 in benefits each year.
Although you don’t have to be a millionaire to qualify for this card, you do need plenty of income to support your spending. Because it’s made of metal and comes with so many benefits, Amex Platinum is one of the most prestigious cards available.
If you’re loyal to a particular airline, you may benefit from an airline credit card. You can read more in our comprehensive review of Delta Reserve vs. Amex Platinum.
Earn 5X Membership Rewards® points for flights booked directly with airlines or with American Express Travel (on up to $500,000 per calendar year), 5X points on prepaid hotels booked with American Express Travel, and 1X points on other purchases.
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Annual Fee
$695
Welcome Offer
80,000 points
Regular APR
See Pay Over Time APR
Recommended Credit
Good/Excellent (670 - 850)
Why we like it
The American Express Platinum card, although a bit on the pricey side with a $695 annual fee, boasts a multitude of premium travel perks. If you’re a luxury traveler who knows how to make the most of a credit card’s offerings, this card can reward you well.
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Card Details
More Card Info
$200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
$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.
$155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) with a statement credit after you pay for Walmart+ each month with your Platinum Card®. Cost includes $12.95 plus applicable local sales tax. Plus Up Benefits are excluded.
$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®.
$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 is available to Basic Card Member only. Terms Apply.
$300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
$189 CLEAR® Plus Credit: Breeze through security with CLEAR Plus at 100+ airports, stadiums, and entertainment venues nationwide and get up to $189 back per calendar year on your Membership (subject to auto-renewal) when you use your Platinum Card®. Learn more.
$100 Global Entry Credit: Receive either a $100 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.
Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
$300 SoulCycle At-Home Bike Credit: Get a $300 statement credit for the purchase of a SoulCycle at-home bike with your Platinum Card®. An Equinox+ subscription is required to purchase a SoulCycle at-home bike and access SoulCycle content. Must charge full price of bike in one transaction. Shipping available in the contiguous U.S. only. Enrollment Required.
Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
Terms Apply.
Pros
Excellent rewards rate for travel purchases
Qualify for $1,500+ in statement credits
Very generous welcome offer
Cons
High annual fee of $695
Many statement credit offers are too specific and hard to use
Non-travel-perks aren’t spectacular
Bottom Line
This is quite a spectacular card with incredibly valuable benefits, but the annual fee is objectively very high.
Amex Platinum FAQs
Is American Express Platinum a luxury card?
Amex Platinum qualifies as a luxury credit card because it’s designed for people who travel frequently or purchase expensive items. For example, one of the many membership rewards is a $300 statement credit to help cover the cost of an Equinox membership. Equinox is one of the most expensive fitness clubs in the world, with membership fees starting at nearly $200 per month.
Another reason Amex Platinum qualifies as a luxury card is that you must have a good credit score to qualify for one. American Express doesn’t issue the Platinum Card to anyone with poor or fair credit.
What is the annual fee for the Amex Platinum card?
The Amex Platinum Card has an annual fee of $695.
Is the Amex Platinum Card metal?
Yes. The Platinum Card is made with stainless steel, making it heavier and feel more luxurious than a credit card made with traditional plastic.
Is Amex Platinum a black card?
No. The American Express Black Card is an invitation-only product available to individuals with high net worth. Anyone can apply for the Platinum Card. Whether you’re approved depends on your income, credit score and other factors.
Is Amex Platinum better than Chase Sapphire Reserve?
Both of these luxury travel cards have many benefits. The Chase Sapphire Reserve gives you more bonus points on everyday categories, while the Amex Platinum Card gives you more points on flights.
Does the American Express Platinum card have foreign transaction fees?
No, the Platinum Card from American Express does not charge foreign transaction fees.
Is CLEAR free with Amex Platinum?
Yes! The Platinum card is one of the only credit cards with a $189 yearly statement credit to cover your CLEAR Plus application fee.
What credit score do you need for Amex Platinum?
The Platinum Card from American Express requires good to excellent credit to qualify. We recommend that your FICO credit score is 700 or higher before applying.
Leigh Morgan is a seasoned personal finance contributor with over 15 years of experience writing on a diverse range of professional legal and financial topics. She specializes in subjects like navigating the complexities of insurance, savings, zero-based budgeting and emergency fund development.
In the last 5 years, she’s authored over 300 articles for credit unions, digital banks, and financial professionals. Morgan is also the author of “77 Tips for Preventing Elder Financial Abuse,” a book focused on helping caregivers protect the elderly from financial scams.
In addition to her writing skills, she brings real-world financial acumen thanks to her previous experience managing rental properties as part of a $34 million real estate portfolio.
* Opinions expressed here are those of the LA Times Compare Cards Team and have not been reviewed or approved by any advertiser or entities included within this content. See our editorial policy for more details.
All products or services are presented in this content without warranty. The information, including card details such as rates and fees, is accurate at the time of publish. Please visit each bank's website directly for the most current information.
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