The Platinum Card® from American Express Benefits & Review (Is it Worth it in 2024?)

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The Platinum Card® from American Express features a plethora of travel and lifestyle benefits that you won’t find with other travel credit cards. So if you’re a frequent flyer or prefer luxury travel, this card can improve your travel experience and reduce your travel costs. Here is an in-depth look at everything The Platinum Card® from American Express offers.

Benefits at a Glance

Annual Fee: $695 Current Welcome Bonus Offer: Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership. 5x Membership Rewards on flights booked directly with airlines or with Amex Travel (up to $500,000 per calendar year) 5x Membership Rewards on prepaid hotels booked with Amex Travel 1x Points Per Dollar Spent on all remaining eligible purchases Up to $200 Hotel Statement Credits for prepaid Fine Hotels + Resorts or The Hotel Collection bookings. (two-night minimum stay) Up to $200 Airline Fee Credit per calendar year on incidental fees. Enrollment required. Up to $200 Uber Cash for rides and eats (in the U.S.) orders with monthly credits. Renews annually. $155 Walmart+ Credit for a monthly membership ($12.95 per month statement credit plus applicable local taxes). Plus Ups are excluded. Subject to auto-renewal. $240 Digital Entertainment Credit (up to $20 monthly) for eligible media services. Enrollment required. Up to $300 Equinox Credit per year. Enrollment required. Airport Lounge Access including The Centurion and Priority Pass Select networks (enrollment required). Up to $100 Global Entry or TSA PreCheck application fee credit. Specifically, $100 statement credit every four years for Global Entry (includes TSA PreCheck) application fees or an $85 statement credit every 4.5 years for TSA PreCheck application fees. CLEAR® Plus application fee credit (up to $189 per year and subject to auto-renewal) Discounts and Complimentary Amenities at select luxury hotels and resorts Hotel Elite Status with Hilton Honors and Marriott Bonvoy. Enrollment required. Travel and Purchase Protection Coverage

Who is the Platinum Card from American Express For?

You should consider this card if you currently spend a lot of money on travel and luxury lifestyle brands. For example, you can be an excellent fit if these are some of your ordinary expenses:

• In-flight purchases
• Airport lounge membership, including the Centurion Lounge
• Uber rideshares or UberEats deliveries
• Expedited airport security (i.e., Global Entry, TSA PreCheck, and CLEAR® Plus)

This card states you can receive at least $1,500 in benefits but the annual fee is one of the highest at $695. You must decide if your travel and daily routine match the card perks.

Featured Platinum Card from American Express Benefits

There are many reasons to consider applying for the Amex Platinum and these benefits are some of the most valuable.

80,000 Bonus Membership Rewards Welcome Bonus Offer

The current welcome offer bonus is 80,000 Membership Rewards points after spending $8,000 in the first 6 months. The 80,000 Membership Rewards bonus is worth up to $800 in award flights and select gift cards. The bonus can be worth over $1,600 when transferring to select American Express partner airlines and hotels.

Airport Lounge Access

You will receive complimentary access to these lounge networks:

• Centurion Lounges
• Priority Pass Select (enrollment required)
• Delta Sky Club
• Airspace
• Escape
• Lufthansa
• Plaza Premium

It’s possible for you and up to two companions to visit free of charge. However, for airline lounges like Delta Sky Club and Lufthansa, you will need an active itinerary for that airline to enter.

Platinum cardholders are charged $50 for each guest for Centurion Lounge access. This fee is waived if the cardholder spends at least $75,000 in a calendar year.

Further reading: best credit cards for airport lounge access.

$200 Airline Fee Credit

Amex will reimburse up to $200 in incidental travel fees for one airline of choice each calendar year. Some of the qualifying expenses include:

• Checked bags
• In-flight food and beverages
• Change fees
• Lounge visits
• Mileage multipliers

This benefit doesn’t reimburse plane ticket purchases like other premium credit card travel credits. As a result, it can be harder to redeem if you’re not one to make incidental purchases with an airline and tend to spend your dollars in the airport terminal instead.

The qualifying airlines include the legacy domestic carriers (American, Delta, United) and many discount airlines such as Alaska, Southwest, JetBlue, and Frontier.

Further reading: best credits cards for airline and airfare benefits

$200 Hotel Credit

Luxury travelers can receive up to $200 in statements on prepaid bookings at Fine Hotels + Resorts or The Hotel Collection bookings with a minimum two-night stay.

You must book qualifying stays through AmexTravel.com. It’s possible to enjoy additional benefits at these properties too:

• Fine Hotels + Resorts: Average total value of $550 in extra perks like daily breakfast for two, a $100 experience credit, and 4 pm late check-out.
• The Hotel Collection with American Express Travel: $100 experience credit for select on-site activities.

Further reading: best credit cards for hotel benefits.

$200 Uber Cash

You will receive $15 per month ($35 in December) for up to $200 per year in Uber Cash for rides and eats (in the United States). This benefit can be an easy way to save money if you use Uber rideshares or your favorite restaurant trusts Uber Eats for delivery.

Consumer Platinum cardholders are also eligible for UberVIP benefits in select cities. Add your Amex Platinum Card to your Uber account to get started. This benefits renews annually.

Free Global Entry or TSA PreCheck

You will receive an application fee credit for Global Entry or TSA PreCheck. $100 statement credit every four years for Global Entry (includes TSA PreCheck) application fees or an $85 statement credit every 4.5 years for TSA PreCheck application fees. This is a common benefit for premium travel credit cards and helps you skip the long security lines.

Further reading: best credit cards for Global Entry and TSA PreCheck.

CLEAR® Plus Credit

This card also gives you an annual up to $189 CLEAR® Plus application fee credit which can help you get through the pre-security lines at airports quicker. CLEAR® Plus can also help you enter stadiums and other indoor entertainment venues sooner as well. Please note, this benefit is subject to auto-renewal.

While you don’t need Global Entry or TSA PreCheck to be eligible for CLEAR® Plus, the Amex Platinum lets you get both for free. You can also stack TSA PreCheck and CLEAR® Plus for an even speedier experience through security.

$300 Equinox Credit

The Platinum Card is best for its many travel statement credits but you can also enjoy a few lifestyle credits. For example, fitness enthusiasts will receive up to $300 in annual statement credits for Equinox memberships and Equinox+.

There is also a separate $300 credit to purchase a SoulCycle At-Home Exercise Bike. An Equinox+ subscription is required.

Earn 5x Membership Rewards on Travel

You will earn up to 5 Membership Rewards per $1 on these travel purchases:

• Flights booked directly through the airline or on AmexTravel.com (up to $500,000 per year)
• Prepaid hotels through AmexTravel.com

This earning potential is double most travel rewards cards that usually pay 2-3x on travel purchases.

All non-bonus purchases earn 1 point per $1.

1:1 Point Transfers

You’re able to transfer your Membership Rewards at a 1:1 ratio to approximately 20 airlines and hotels. This redemption option is in addition to booking your award travel directly through American Express Travel.

No Preset Spending Limit

The Platinum Card doesn’t have a preset spending limit. Instead, your spending power is flexible and depends on several factors including your usual monthly balance.

You will need to pay your balance in full or enroll purchases in the Pay Over Time payment plan at your personalized APR.

Other Amex Platinum Card Travel Features

These secondary benefits add additional value when you travel.

Hilton Honors Gold Elite Status

You receive complimentary Hilton Honors Gold status which typically requires staying at least 28 nights per year. 

This loyalty tier’s best perks include 80% bonus points on stays, daily food and beverage credits, and space-available room upgrades. Enrollment required.

Marriott Bonvoy Gold Elite Status

This card also gives you Gold Elite status with the Marriott Bonvoy loyalty program. You won’t have to log the 25 qualifying nights or apply for a participating co-brand Marriott Bonvoy credit card to achieve this status. Enrollment required.

Some of the core Gold Elite benefits include:

• 25% bonus points
• Point-based welcome gifts
• Space-available Enhanced Room Upgrades

Car Rental Privileges

You can enjoy several unique rental car benefits through these rental agencies:

• Avis
• Hertz
• National

Precise benefits vary by loyalty program but generally include discounts and complimentary upgrades when you enter an exclusive promo code.

Amex Platinum cardholders can now qualify for Hertz President’s Circle status, which is the highest possible status at Hertz.

Further reading: best credit cards for car rentals and best credit cards for rental car insurance.

Travel Insurance

This card features several complimentary travel insurance benefits on your eligible travel purchases:

• Car Rental Loss and Damage Waiver: Secondary rental car coverage on most domestic and international car rentals. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
• Trip Cancellation and Interruption Insurance: Up to $10,000 per trip and $20,000 per 12-month period for non-refundable travel purchases. Underwritten by New Hampshire Insurance Company, an AIG Company.
• Trip Delay: Up to $500 per trip when incurring delays exceeding six hours. You can redeem this benefit twice per consecutive 12-month period. Underwritten by New Hampshire Insurance Company, an AIG Company.
• Baggage insurance: Up to $3,000 per carry-on and $2,000 for checked luggage. A $1,000 maximum applies to high-risk items. There is also a $2,000 per bag and a $10,000 aggregate limit for New York State residents. Underwritten by AMEX Assurance Company.

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

Further reading: best credit cards offering travel insurance.

Premium Global Assist Hotline

It’s possible to request travel, legal, and medical assistance but third-party service provider fees still apply. 

You can also receive complimentary emergency medical transportation assistance when traveling at least 100 miles away from home. Few travel credit cards offer this service.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. If approved and coordinated by Premium Global Assist Hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers.

Discounts on International Flights

You can book up to eight tickets at a discount for 25 international airlines. The qualifying fare classes are First, Business, and Premium Economy when your overseas flight originates and terminates in the United States.

These flights can also earn up to 5x Membership Rewards.

Wheels Up Private Jet Program Benefits

Enjoy guaranteed hourly rates and up to two Wheels Up transaction fee waivers per year. It’s also possible to get initiation fee discounts if you’re purchasing a new Core or Connect Membership.

Destination Experiences

It’s possible to receive $100 onboard credit (for cruises) or instant savings when you spend at least $3,000 on a booking.

Qualifying Platinum Destinations Vacations packages can earn an additional Membership Rewards point per $1.

Travel and Dining Concierge

You have access to several concierge programs that make it easier to book dining and entertainment outings:

• Platinum Travel Service: A dedicated travel service where advisors can provide customized itineraries and suggested activities.
• Global Dining Access by Resy: Add your Platinum Card details to your Resy profile or call Centurion Membership Services to make exclusive reservations and enjoy special dining experiences. The premium Resy alert system is great for scoring difficult reservations.
• Preferred Seating Program: Secure hard-to-find tickets to dining and entertainment events.
• American Express Presales: Purchase entertainment tickets before they go on sale to the general public.
• By Invitation Only: Receive exclusive access to sports, concerts, theater, and dining experiences with VIP treatment.

No Foreign Transaction Fees

As you might expect, you won’t pay foreign transaction fees on international purchases.

Additional Amex Platinum Card Shopping Benefits

These retail benefits will boost your spending power and also protect your purchases.

$240 Digital Entertainment Credit

You will receive up to $20 in monthly credits for qualifying digital entertainment purchases. The eligible services are:

• Audible
• Disney+
• ESPN+
• Hulu
• Peacock
• SiriusXM
• The Disney Bundle
• The New York Times
• The Wall Street Journal

This benefit doesn’t provide as much liberty as most streaming service credits. For example, Netflix, fuboTV, and other streaming apps are ineligible. You must enroll to receive this benefit.

$155 Walmart+ Credit

Amex reimburses the $12.95 monthly membership fee (plus applicable local taxes) for Walmart+. This service may not have the name recognition or the “wow factor” as Amazon Prime but you shouldn’t underestimate this benefit as a Walmart is in most neighborhoods. Please note, this is subject to auto-renewal.

Some of the Walmart+ benefits include:

• Free delivery from your store
• No order minimum for free shipping on online orders
• Up to 85% savings on prescriptions
• Save $0.05 per gallon at Walmart and Murphy fuel stations

Up to $100 in Saks Fifth Avenue Shopping Credits

You will receive two $50 semi-annual statement credits that you can redeem at Saks Fifth Avenue or Saks.com. Saks Fifth Avenue is a luxury department store offering everything from clothing to home goods. If you have not shopped at Saks you will notice it is expensive for most items. While the $50 credit is nice, it will not get you a lot. Enrollment is required to take advantage of this benefit.

Amex Offers

Amex Offers allows you to get Membership Rewards points or statement credits when making select purchases. You must add the particular offer to your card to earn the credit, and there is an expiration date for each offer. I regularly use Amex offers and have saved big on travel, shopping, and even gas purchases.

InCircle Point Cards

It’s possible to get a $100 InCircle Point Card for every 10,000 InCircle Points you receive. You can redeem these shopping rewards at Neiman Marcus, Bergdorf Goodman, Last Call, and Horchow.

Purchase Protection

New covered purchases that are stolen, lost, or accidentally damaged within the first 90 days are eligible for up to $10,000 per claim and $50,000 per calendar year. Coverage limits apply. No enrollment required.

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.

Return Protection

Items that you try returning to the retailer within 90 days of the purchase date but the retailer rejects are eligible for up to $300 (excluding shipping and handling) in return protection. Your annual benefit limit is $1,000 per calendar year per card account. The full purchase must have been made with your Amex Platinum card, and it must be made in the U.S. or its territories.

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

ShopRunner Membership

You can receive complimentary ShopRunner membership to get free 2-day shipping and complimentary returns at participating retailers.

Amex Send & Split

The Amex Send & Split features let you easily split purchases with other American Express consumer cardholders. You can send money to Venmo and PayPal users without transaction fees.

This service also lets you split card purchases with other American Express credit cards and receive payments as a statement credit. You can access this tool in the American Express app.

Cell Phone Protection

You’re eligible for up to $800 per claim in cell phone protection after a $50 deductible. Accidental damage and a stolen phone are eligible for compensation. 

You can file up to two claims per year.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Redeeming Membership Rewards

You have several ways to redeem your Membership Rewards for travel and retail rewards.

Book Award Travel Through AmexTravel.com

One of the most valuable redemption options is booking award flights through AmexTravel.com as each point is worth 1 cent.

One cent is the highest standard redemption value for Amex Membership Rewards.

It’s also possible to book these award travel itineraries but the redemption value is usually lower:

• Flight upgrades: 1 cent
• Fine Hotels & Resorts: 1 cent
• Hotel nights: 0.7 cents
• Rental cars: 0.7 cents
• Cruises: 0.7 cents
• Vacation packages: 0.7 cents

Airline and Hotel Point Transfers

A potentially more valuable option is being able to transfer your Membership Rewards at a 1:1 ratio in 1,000-point increments to participating airline and hotel loyalty programs. In some cases, your points can be worth 2 cents per point or more.

You might consider this option when your redemption value is higher than booking directly through Amex. An excellent example is international flights which usually have better redemption ratios than domestic itineraries.

The Amex airline transfer partners are:

• Aer Lingus 
• AeroMexico (1,000 Membership Rewards equal 1,600 Premier Points)
• Air Canada (Aeroplan)
• Air France-KLM Flying Blue
• ANA
• Asia Miles
• Avianca
• British Airways
• Delta Air Lines
• Emirates
• Etihad
• Hawaiian Airlines
• Iberia
• JetBlue (250 Membership Rewards equal 200 TrueBlue points)
• Qantas (500 Membership Rewards equal 500 Qantas points)
• Singapore Airlines
• Virgin Atlantic

There are also three hotel transfer partners:

• Choice Privileges 
• Hilton Honors (1,000 Membership Rewards equal 2,000 Hilton Honors points)
• Marriott Bonvoy

Some of the transfer partners have a different transfer ratio. But, in most cases, 1,000 Membership Rewards are worth 1,000 miles in your linked loyalty account.

Most point transfers are instant and free. Unfortunately, there is a $0.0006 federal excise tax when transferring points to domestic frequent flyer programs like Delta, JetBlue, and Hawaiian.

Gift Cards

Award flights are the most valuable redemption option as each point is worth at least one cent. Gift cards for select travel, restaurant, and retail brands are worth up to 1 cent.

However, not every gift card redemption is worth 1 cent and the redemption values range from 0.5 cents to 1.0 cent.

New York City Taxis

Each point is worth 1 cent for NYC taxi rides.

Pay with Points at Checkout

You can redeem your points at participating merchants usually for 0.7 cents each.

Participating brands include:

• Amazon
• Best Buy
• Boxed
• Dell.com
• Grubhub
• Newegg
• PayPal
• Rite Aid
• Saks Fifth Avenue
• Seamless
• Staples

It’s also possible to redeem your points through an online shopping mall at other retailers and at Ticketmaster. Your redemption value is only 0.5 cents for these two options.

Cover Card Charges

You can also redeem your points to offset card charges if you prefer cash statement credits. This redemption option is one of the least valuable as your points are only worth 0.6 cents.

Fees

Here is a summary of the most common Amex Platinum fees.

• Annual Fee: $695 (primary card)
• Additional Card Annual Fee: $195 per card

The Amex Platinum Compared to Other Similar Cards

You might prefer these other travel credit cards that offer a different suite of benefits and can have a friendlier annual fee.

Chase Sapphire Reserve®

The Chase Sapphire Reserve® has several premium travel and dining benefits. Some of the best include:

• $300 annual travel credit
• Earn up to 10x Ultimate Rewards on travel purchases through Chase (after earning the $300 travel credit)
• Points are worth 50% more on travel redemptions (1.5 cents each)
• 1:1 point transfers
• Priority Pass Select airport lounge access
• Up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®

Some of the unique 1:1 transfer partners include United Airlines, Southwest Airlines, and IHG One Rewards.

This card also has a valuable set of complimentary travel insurance benefits.

The annual fee is $550 for the primary card plus $75 per authorized user.

See our complete Amex Platinum Card vs. Chase Sapphire Reserve comparison article.

Further Reading: Chase Sapphire Reserve Benefits

American Express® Gold Card

The American Express® Gold Card is a semi-premium card that also earns Membership Rewards. It’s best for dining and flights with benefits including:

• 4x on dining at restaurants (plus takeout and delivery in the U.S.)
• 4x at U.S. supermarkets (on the first $25,000 per year, then 1x)
• 3x on flights booked directly from airlines or on Amex Travel
• Up to $120 in annual Uber cash ($10 per month) for Uber Eats and rides in the U.S. Enrollment required.
• Up to $120 per year ($10 in monthly) dining statement credits to select restaurants. Enrollment required.
• Special on-site benefits at The Hotel Collection
• 1:1 point transfers

Your point redemption options are similar to the Platinum Card but you get a different set of card benefits. In addition, the annual fee is only $250

See our complete Amex Gold Card vs. Amex Platinum Card comparison article.

Further Reading: American Express Gold Card Benefits

Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is one of the most affordable premium travel credit cards. Its annual fee is $395, free additional cards, and offers these travel benefits:

• $300 annual credit for bookings through Capital One Travel
• 10,000 miles anniversary bonus on each card renewal ($100 value)
• Earn up to 10x miles on purchases (on hotels and car rentals booked through Capital One Travel)
• Priority Pass and Capital One Lounge complimentary benefits
• Global Entry or TSA PreCheck application fee credit
• Airline and hotel point transfers (most have a 1:1 transfer ratio)

You can also get up to $800 in cell phone protection benefits.

See our complete Capital One Venture X Card vs. Amex Platinum Card comparison article for more details.

Further Reading: Capital One Venture X Rewards Benefits

Chase Sapphire Preferred® Card

The Chase Sapphire Preferred® Card is one of the best alternatives to a premium credit card if your travel and buying habits don’t justify the high annual fee. This card has a $95 annual fee and additional cards are free.

Featured benefits include:

• Earn up to 5x Ultimate Rewards per dollar spent on travel purchases through Chase
• Points are worth 25% more for award travel redemptions (1.25 cents each) 
• 1:1 point transfers
• Up to $50 in statement credits per year for hotel bookings through Chase
• 10% of the points you earn each year as an anniversary bonus

You can also gain peace of mind from the valuable travel insurance benefits, including a primary rental car collision damage waiver.

Further Reading: Chase Sapphire Preferred Card Benefits and Chase Sapphire Preferred vs. The Platinum Card® from American Express

Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card can also be an affordable compromise if you want airport lounge access and some exciting travel perks.

Benefits include:

• 5x on Capital One Travel hotel and rental car bookings
• 2x on all remaining purchases
• Redeem points for travel statement credits
• 1:1 point transfers
• Global Entry or TSA PreCheck application fee credit
• 2 free visits per year at Capital One Lounge

Your points are worth 1 cent when you redeem them for just about any travel purchase within the last 90 days as a travel statement credit. You also earn 2x points instead of 1x points on non-bonus purchases which can make it easier to accumulate points.

The annual fee is $95 for the primary card and $0 for additional cards.

Further Reading: Capital One Venture Card Benefits

The Vacationer’s Final Thoughts

The Platinum Card® from American Express is ideal for frequent flyers as it offers many air travel perks. Your points are also most valuable for award flights.

If you don’t fly frequently, the luxury hotel benefits and lifestyle credits can also help you get value from this card. However, you must be comfortable redeeming your Membership Rewards for award flights to get the best redemption value.

While this card offers an eye-popping amount of benefits that can be worth more than the $695 annual fee, you may consider another travel credit card that may do a better job at balancing card benefits with an annual fee that suits your travel frequency and budget. Business travelers can apply for The Business Platinum Card® from American Express.

Further Reading:

• American Express Platinum vs. American Express Gold Card
• Capital One Venture X vs. Amex Platinum Card
• Chase Sapphire Reserve vs. American Express Platinum Card

Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply

American Express Insurance Benefits Information:

Baggage Insurance Plan – Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry- on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, 11/11/2021 AXP Internal 7 there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip.

Cell Phone Protection – Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period.

Premium Global Assist Hotline – You can rely on Global Assist Hotline 24 hours a day / 7 days a week for medical, legal, financial or other select emergency coordination and assistance services while traveling more than 100 miles away from your home. Plus, we may provide emergency medical transportation assistance and related services. Third-party service costs may be your responsibility.