The American Express Platinum Card® is a popular rewards card known for its suite of luxury perks, such as concierge service, travel protections and access to various lounge networks.
However, these top-tier benefits come with an $895 annual fee, which can be steep for some travelers. Although the card’s list of benefits sounds enticing, you might question whether the AmEx Platinum’s annual fee is worth it. Here’s what to consider. See Rates & Fees
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Valuable Benefits That Offset the AmEx Platinum Annual Fee
Deciding whether the American Express Platinum Card® is worth it for you depends on whether you’ll maximize the card’s perks.
“I recommend cardholders look at the ongoing annual value of the card, not counting the welcome offer, as that only happens once,” says Matthew Goldman, a consultant who helps early stage companies design credit and debit card programs through his company, Totavi.
The American Express Platinum Card® earns five Membership Rewards® points per dollar on certain flight and hotel purchases, and it offers a host of perks beyond that. Consider how much you’re able to use them when calculating the card’s value for you.
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AmEx Platinum Card Benefits: Our Top 6 Picks
1. High welcome bonus. You can earn as high as 175,000 Membership Rewards points after you spend $8,000 on your card within the first six months. This bonus isn’t guaranteed for everyone, but could be worth $3,500 if you can snag it.
2. Uber Cash and credits. Receive up to $200 in Uber Cash each year, which you can use for rides with Uber and orders from Uber Eats. You’ll receive $15 Uber Cash every month, plus a $20 bonus in December. Upgrade to an Uber VIP where available, without meeting minimum ride requirements, and be matched with top-rated drivers.
3. TSA PreCheck®, Global Entry or CLEAR® Credit. Receive either a statement credit every four years after applying for Global Entry ($120) or every 4.5 years after applying for a five-year TSA PreCheck® membership (up to $85). If you’re approved for Global Entry, you will receive access to TSA PreCheck® at no additional charge. You can receive up to $209 in statement credits per calendar year for an auto-renewing CLEAR® Plus Membership.
4. Airport lounge access. Enjoy complimentary access to more than 1,550 airport lounges across 140 countries, including The Centurion Lounge and Escape Lounge, Delta Sky Club and Lufthansa Lounge. These lounges often have self-service bars and amenities like spa services and high-speed Wi-Fi at no additional cost.
5. Airline fee credit. Receive up to $200 in yearly statement credits for incidental charges such as checked bags and in-flight refreshments that were made using your Platinum Card with a qualifying airline.
6. Hotel credit. You can receive up to $300 back in statement credits semiannually on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through American Express Travel®. The Hotel Collection requires a minimum two-night stay.
Dining and Entertainment Benefits
Digital Entertainment Credit
Originally $240, you can now receive up to $25 per month in statement credits when you use your Platinum Card to pay for eligible subscriptions, such as Disney+ bundle, Peacock, ESPN+, Hulu, Paramount+, The New York Times, The Wall Street Journal and YouTube. Enrollment required.
Resy Credit
Receive up to $400 per calendar year — $100 every quarter — in statement credits when you use your Platinum Card at the over 10,000 U.S. restaurants that offer reservations on Resy.com and the Resy app. You’ll have Global Dining Access, which will allow you access to exclusive reservations and premium dining experiences. These can include high-profile chef dinners and more. Enrollment required.
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Shopping and Wellness Benefits
Saks Fifth Avenue Credit
You’ll receive up to $100 in statement credits annually when you use your card to make purchases at Saks Fifth Avenue, either in-store or online — and no minimum purchase is required. Get a credit of up to $50 for transactions made between January and June, plus another $50 credit between July and December.
Walmart+ Credit
Use your Platinum Card to pay for a monthly Walmart+ membership and receive one statement credit for up to $12.95, plus applicable taxes, each month. Through your membership, you’ll get free shipping with no order minimum on eligible items shipped by Walmart, a Paramount+ Essential subscription and same-day grocery delivery — which requires an order minimum and is only available at select locations.
Lululemon Credit
You can receive up to $75 in statement credits every quarter ($300 a year) when you use your Platinum Card at U.S. lululemon retail stores (not including outlets) and lululemon.com.
Oura Ring Credit
You can receive up to $200 in statement credits when you use your Platinum Card to purchase an Oura Ring at Ouraring.com. It’s important to note this credit doesn’t cover Oura membership purchases, other hardware purchases like chargers and add-ons, extended warranty purchases or Oura gift card purchases.
Equinox Credit
Receive up to $300 in yearly statement credits on a digital subscription or club membership at Equinox fitness.
Enrollment required for select benefits.
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Is the AmEx Platinum Card Right for You?
There’s no secret American Express is catering to a specific kind of consumer. If you travel often and shop frequently at the aforementioned partners, this card could easily check all the boxes for you. For example, if you already have an Equinox membership or shop frequently at lululemon, these added benefits could make a lot of sense.
The Platinum Card boasts $3,500 in annual value. However, it’s important to note you won’t be able to use every benefit every year. Your redemptions will vary year to year. Yet even with this caveat, the card still has a lot to offer.
For consumers who can’t justify the annual fee, there are other travel credit cards that offer plenty of perks with a lower annual fee or none at all. Just make sure whatever card you choose makes sense for your current spending habits.
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Is the AmEx Platinum Card Annual Fee Worth It? originally appeared on usnews.com
Update 10/15/25: This story was previously published at an earlier date and has been updated with new information.
