The Platinum Card® from American Express is easily one of the most coveted premium travel rewards cards. With an extensive suite of luxury benefits and credits, this metal card carries prestige – but also a high annual fee. Is the Amex Platinum Card worth it? Read this in-depth review to learn who this card best suits.
Introduction to the American Express (Amex) Platinum Card
The American Express Platinum Card sits at the pinnacle of the Amex lineup, providing robust travel perks, rewards bonuses, and status to cardholders. Designed for frequent travelers, this luxury card does command a $695 annual fee to unlock its privileges.
In this review, we’ll analyze the many benefits, fee cost, approval requirements, and alternatives to determine if the Platinum Card should be in your wallet.
Overview of Key Benefits
| Benefit | Details |
|---|---|
| 5X Points on Flights & Hotels | When booking directly through AmexTravel |
| Airline Fee Credit | Up to $200 per year towards incidental fees with 1 airline |
| Lounge Access | Centurion, Priority Pass, Delta Sky Club access included |
| Elite Hotel Status | Automatic Gold status with Hilton Honors and Marriott Bonvoy |
| Uber Credit | Up to $200 in Uber credits per year for US rides or eats |
| Other Travel Perks | Rental car elite status, hotel credits, airport meet and greet services |
The Amex Platinum Card is packed with high-end travel benefits including lounge access, hotel elite status, airline fee credits, Uber perks, and more. The combination of rewards bonuses and luxury travel protections provide immense value for frequent travelers who can maximize these perks.
Welcome Bonus, Points, Annual Fee of American Express Platinum Card
IMPORTANT INFORMATION REGARDING RATES, FEES, AND OTHER COST INFORMATION of American Express Platinum Card:
| Rates & Fees | Details |
|---|---|
| Annual Fee | $695 |
| APR Ranges | 15.99% to 22.99% variable |
| Foreign Transaction Fee | None |
| Balance Transfer Fee | 5% of each transfer, minimum $5 |
| Cash Advance Fee | 5% of each cash advance, minimum $10 |
| Late Payment Fee | Up to $40 |
| Returned Payment Fee | Up to $40 |
Review rates and fees of carefully before applying to fully understand the costs associated with the American Express Platinum Card.
How the Membership Rewards Program Works of American Express Platinum Card?
| Membership Rewards Program | Details |
|---|---|
| Earning Points | 5X points on flights and hotels booked through Amex Travel. 1X points on other eligible purchases. |
| Transferring Points | Transfer points to airline and hotel loyalty programs to maximize value. |
| Redeeming Points for Travel | Redeem points for flights, hotels, vacation packages, cruises, retail gifts cards, and more. |
| Point Value | Around 1-2 cents per point when transferred to partners for travel redemptions. |
Key highlights:
- Earn points on eligible card purchases
- Transfer to travel partners to maximize redemption value
- Redeem points for all types of travel purchases and more
- Estimated baseline value is 1-2 cents per Membership Reward point
Maximizing the American Express Platinum Card
Tips to get the most from the Amex Platinum:
| Maximizing the Amex Platinum Card | Details |
|---|---|
| Use for Flights and Hotels | Book through AmexTravel.com for 5X points per dollar |
| Leverage Credits | Use airline and Uber credits each year to offset annual fee |
| Pay Off Monthly | Pay statement balance in full each month to avoid interest |
| Transfer Points to Partners | Move points to frequent airline/hotel programs to maximize value |
Who is the American Express Platinum Card Best For?
The Amex Platinum card makes the most sense for:
| Best User Profile | Details |
|---|---|
| Frequent Travelers | Lounge access, elite status, and travel protections provide immense value |
| Luxury Travelers | Perks like credits, airport meet-and-greets, and Uber benefits enhance high-end travel |
| Business Travelers | Lounge access and 5X points on flights offer great ROI |
As long as you’ll use the elite benefits, airline/hotel point transfers, and travel credits, the annual fee is usually outweighed for these audiences.
Our Final Verdict
The Platinum Card from American Express is easily one of the top premium travel credit cards thanks to its first-class benefits, points earning potential, and Membership Rewards flexibility. However, it comes with a steep $695 annual fee. Less frequent travelers may struggle to offset that cost. But for jet-setters who maximize the card’s perks, the Amex Platinum is well worth it.