The Platinum Card from American Express review: premium travel with plenty of perks

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Popular among jetsetters who prefer luxury travel, The Platinum Card® from American Express* is best known for its premium travel perks, lucrative welcome bonus and for offering a variety of points-earning and redemption options, including 21 airline and hotel transfer partners.

Despite having a high annual fee of $695 (see rates and fees), you’ll find that the benefits and statement credits provided to reimburse you for certain memberships and enrollment fees offset it completely, offering a value of up to $1,584 if you take advantage of every available offer. And there are no foreign transaction fees (see rates and fees).

In this review, we’ll explore the card’s most valuable features, how it compares to competing cards and whether or not it’s worth signing up for.

Here’s everything you need to know about the Amex Platinum Card, starting with some highlights:

• Airport lounge access: The Amex Platinum Card provides members with complimentary entry to The American Express Global Lounge Collection, including the Centurion Network and Delta Sky Club lounges (which will be limited to 10 days per year as of Feb. 1, 2025), Priority Pass lounges and Plaza Premium Lounge partner sites worldwide.

• Generous welcome bonus: Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. A terrific starting point for their rewards-earning journey.

• Statement credits provided as benefits: Cardmembers receive credits to cover Clear Plus, Equinox and Walmart+ memberships; Global Entry or TSA PreCheck enrollment; select streaming services; Uber rides and food delivery; and Saks Fifth Avenue purchases.

• Flexible redemption options: Redeem Membership Rewards (MR) points for flights, hotels, rental cars and cruises via AmexTravel.com, transfer them to one of 21 travel partners, use them to pay for gift cards or use the nifty Pay With Points feature when shopping online.

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Overview of The Platinum Card® from American Express

Between the robust portfolio of perks, statement credits and travel insurance benefits* and the wide range of redemption options you’ll have when it’s time to exchange your Membership Rewards points, it’s no wonder The Platinum Card is one of the most sought-after travel cards on the market.

Designed with luxury-loving travelers in mind, the card provides access to over 1,400 airport lounges worldwide and an array of credits toward everything from CLEAR Plus membership to a Walmart+ subscription and a generous welcome bonus to get your points-earning journey started right.

While points-earning opportunities are most lucrative when booking flights and hotels via AmexTravel.com (5X points), you’ll still earn 5X points when purchasing flights through the airline for up to $500,000 of these purchases per calendar year and 1X points for all other spending.

As for redeeming points, you can transfer them to any of Amex’s 21 airline and hotel partners, book travel elements through AmexTravel.com, exchange them for gift cards or use them to pay for recent charges or merchandise.

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The pros and cons of the Amex Platinum Card®

Pros

• Lucrative welcome bonus: Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. This can be worth up to $1,600 in travel when redeemed through Membership Rewards.

• 21 travel transfer partners: There are 18 airlines and three hotel brands to choose from if you want to maximize your redemption by transferring your points to a travel partner.

• Lounge access: Cardholders receive access to over 1,400 lounges worldwide through The American Express Global Lounge Collection and its Priority Pass and Plaza Premium Lounge partners.

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Cons

• High annual fee: It’s $695 (see rates and fees), but that annual fee will pay for itself quickly if you maximize all the included credits, which are worth up to $1,584 in value.

• Limited earning categories: With this card, you’ll earn 5X points by booking flights directly with the airline or by reserving flights and hotels via AmexTravel.com, but just 1X points for all other purchases.

• Lots of travel-related perks: If you aren’t traveling for a while, this card might not be worth it since so many of its benefits are related to flights, hotels, lounges and credits for CLEAR Plus membership.

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The Platinum Card® from American Express benefits

The Amex Platinum is a premium rewards-earning credit card designed for those who prefer to relax in the lounge and enjoy the finer things while traveling. Here’s what makes it one of the best.

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Welcome bonus

New applicants earn 80,000 Membership Rewards® Points after spending $8,000 on eligible purchases on their new Card in their first six months of Membership. While those points are worth $1,600 in travel when redeemed through Amex Membership Rewards, you’ll get a better value by transferring them to one of Amex’s 21 travel partners.

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Earning rewards

Cardholders can earn 5X points by booking flights directly with the airline or through AmexTravel.com (up to $500,000 per year) or by reserving prepaid hotels — including The Hotel Collection properties, which have their own perks, like up to a $100 hotel credit, room upgrades and complimentary breakfast — through AmexTravel.com. Otherwise, you’ll pick up just 1X points for all other purchases.

In other words, if you’re a fan of AmexTravel.com, you’ll make out like a bandit. But unlike other travel credit cards, you won’t have the opportunity to earn bonus points for everyday purchases like groceries and dining or travel bookings made outside the Amex Membership Rewards portal.

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Travel perks

This card provides no shortage of premium travel benefits, including a $200 credit for Fine Hotels + Resorts and The Hotel Collection stays reserved via AmexTravel.com and a $200 airline fee credit toward incidentals on a designated airline.

Cardmembers also receive up to a $199 credit toward CLEAR Plus membership, statement credits to cover your Global Entry or TSA PreCheck enrollment (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.), automatic Hilton Honors Gold and Marriott Bonvoy Gold Elite status (enrollment required) and complimentary access to over 1,400 lounges worldwide through The American Express Global Lounge Collection and its Priority Pass and Plaza Premium Lounge partners.

The card comes with baggage insurance, trip interruption and cancellation insurance, trip delay reimbursement, secondary coverage for standard car rentals, evacuation and medical transportation in an emergency and access to a global emergency assistance hotline, just in case.*

You’ll also have access to a network of travel counselors to help you plan out your trip and take care of any issues that may arise. And you’ll never have to worry about paying foreign transaction fees for using the card abroad.

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Other benefits

Besides all the trip-related benefits listed above, the Amex Platinum throws in some great perks to use even if you’re not traveling.

For starters, you’ll receive an annual credit of up to $155 ($12.95 plus tax per month) for a Walmart+ membership, up to $300 in statement credits annually for an Equinox gym membership and $100 worth of credits ($50 per six-month period) for Saks Fifth Avenue purchases.

Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. $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.

$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.

Additionally, the card offers extended warranty protection (up to one year) as well as purchase protection and return protection (each up to 90 days) and cell phone protection up to $800 per claim (two claims allowed every 12 months, with a $50 deductible)*. You’ll also get exclusive access to dining, cultural, musical and sporting events through American Express.

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Redeeming points

Cardholders have a ton of options when it’s time to redeem Membership Rewards points, though their value ranges between 0.6 cents per point and 1 cent per point, depending on how you do it.

If you won’t be traveling anytime soon, redeem points for gift cards or use them to cover eligible charges or to pay for purchases when shopping online through MembershipRewards.com, Amazon, PayPal, Best Buy, GrubHub, Seamless or Staples, among others.

Get into the habit of checking your account (via the website or app) to see if there are Amex Offers, which you can activate for your card and use to earn even more points with every purchase.

Here’s a look at the most lucrative ways to redeem your Amex MR points:

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Transferring to American Express travel partners

You’ll have 21 travel transfer partners to choose from — 18 airline and three hotel loyalty programs — to get the biggest bang for your buck when redeeming your points. Check the website regularly to see if there are transfer bonuses, which would provide even more value.

Here’s a full list of American Express Membership Rewards travel partners, which each offer redemptions at a transfer ratio of 1:1 except where noted:

• Aer Lingus AerClub

• AeroMexico Rewards (1:1.6)

• Air Canada Aeroplan

• Air France/KLM Flying Blue

• ANA Mileage Club

• Avianca LifeMiles

• British Airways Executive Club

• Cathay Pacific Asia Miles

• Delta Air Lines SkyMiles

• Emirates Skywards

• Etihad Guest

• Hawaiian Airlines HawaiianMiles

• Iberia Plus

• JetBlue TrueBlue (1:0.8)

• Qantas Frequent Flyer

• Qatar Airways Privilege Club

• Singapore Airlines KrisFlyer

• Virgin Atlantic Flying Club

• Choice Privileges

• Hilton Honors (1:2)

• Marriott Bonvoy

Keep in mind that those loyalty programs are also a gateway to each airline’s alliance partners via Star Alliance, Oneworld or SkyTeam, so you could end up scoring an even better deal by taking advantage of those partnerships.

For example, you could transfer Amex MR points to Avianca LifeMiles and then use those miles to save on flights to New Zealand via United Airlines or Air New Zealand. Or, you could transfer Amex MR points to ANA Mileage Club and then use those miles to fly to Australia via United Airlines or Air Canada.

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American Express Membership Rewards travel portal

You’ll generally find that redemptions within the American Express Membership Rewards travel portal yield a value of about 1 cent per point, making them slightly less valuable than an outright transfer to a partner but still worth more than if you redeemed them for gift cards or merchandise.

That said, if you’re just starting out with points and miles and aren’t yet ready to deal with transferring points to partner loyalty programs, making a no-nonsense redemption directly through the portal is an easy option.

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How The Amex Platinum compares to other cards

While the Amex Platinum is a fantastic travel rewards credit card, others offer similar premium perks — and for a lower annual fee.

Deciding which card works best for you depends on a number of factors, including your personal travel preferences, the amount of perks, points-earning opportunities and redemption options offered, and whether or not you’d rather transfer your points to loyalty program partners or book flights and hotels directly through the credit card’s travel portal.

Here’s how the Amex Platinum holds up against similar travel credit cards:

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Amex Platinum vs. American Express® Gold Card

While you’ll have some of the same features as the Amex Platinum Card — redemption options, transfer partners and access to The Hotel Collection and exclusive event seating — the American Express® Gold Card* gives you more chances to earn points on everyday purchases, has a lower annual fee of $325 (see rates and fees) and includes dining credits to use whether or not you’re traveling.

Its welcome bonus is lower (Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.), but with the Amex Gold Card, you will earn 4 points per dollar spent on dining at restaurants worldwide (on up to $50,000 in purchases per calendar year, then 1 point per dollar for the rest of the year) and at U.S. supermarkets (on up to $25,000 in purchases per calendar year, then 1 point per dollar for the rest of the year). The card also earns 3 points per dollar on flights (booked directly or via Amex Travel) and 1X on all other purchases., 3X points on flights booked directly with the airline or via AmexTravel.com and 1X points for all other purchases.

As far as statement credits, The Amex Gold Card provides up to a $120 dining credit ($10 per month) for Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys, plus up to $120 in Uber cash ($10 per month) to use for rides or food delivery via Uber Eats. (You must have downloaded the latest version of the Uber App, and your eligible American Express Gold Card must be a method of payment in your Uber account. The Amex benefit may only be used in the United States.) Other bonuses include an $84 Dunkin’ Credit (Earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at Dunkin’ locations) and a $100 Resy Credit (Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That’s up to $50 in statement credits semi-annually. Enrollment required.)

It really comes down to your travel preferences, as the Amex Gold Card offers no lounge access. But if you’re not traveling for a while, it’s a great option for racking up MR points for future trips.

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Amex Platinum vs. Chase Sapphire Reserve®

With a $550 annual fee, similar lounge perks and a hefty welcome bonus (Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $900 toward travel when you redeem through Chase Travel℠), the Chase Sapphire Reserve is a worthy contender.

It’s greatest assets: a $300 annual travel credit, a $120 credit toward Global Entry or TSA PreCheck enrollment, more points-earning opportunities than the Amex Platinum Card and primary rental car insurance (whereas Amex only offers secondary coverage). Plus, your rewards are worth 1.5 cents per point when redeemed through Chase Travel℠.

The Chase Sapphire Reserve also offers limited-time benefits like two free years of Lyft Pink membership abd complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.

Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases.

If you prefer to redeem points with one of Chase’s 14 transfer partners, need a lower annual fee and plan to use the Lyft credits, the Chase Sapphire Reserve could be a better pick over the Amex Platinum.

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Amex Platinum vs. Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is another worthy opponent, with a lower annual fee of $395 (see rates and fee), a generous welcome bonus (75,000 bonus miles after spending $4,000 within the first three months of account opening) and similar premium perks.

Like the other cards, you’ll get up to a $120 statement credit for Global Entry or TSA PreCheck enrollment and access to exclusive cardholder dining and entertainment events. You can also book luxury accommodations via Capital One’s Premier and Lifestyle Collections, each offering its own perks.

Unlike the others, the Capital One Venture X card rewards members with 10,000 bonus miles to celebrate their anniversary. You’ll also get automatic Hertz President’s Circle elite status, primary car insurance for rentals and access to over 1,300 lounges worldwide, including Capital One Lounges and their Priority Pass and Plaza Premium Lounge partner sites.

There aren’t many downsides to this card besides its limitations. While the Chase Sapphire Reserve’s $300 annual travel credit covers all travel purchases, the $300 annual travel credit offered by Capital One Venture X can only be used toward bookings made via Capital One Travel.

While the highest-earning opportunities are limited to Capital One’s ecosystem — 10X miles for hotel and rental cars and 5X for flights booked via Capital One Travel — you’ll earn 2X miles for all other purchases. The card also has cell phone protection and lets you transfer Capital One miles to any of its 18 airline and hotel partners.

So, if you prefer Capital One Travel and its partners over Amex Membership Rewards and its partners but want to enjoy similar perks for a lower annual fee, Venture X could be a better pick.

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Is the Amex Platinum Card worth getting?

For those who prefer luxury travel, The Amex Platinum makes a great choice thanks to the premium level of perks it provides. From lounge access to extra perks and instant elite status at Hilton and Marriott hotels (enrollment required), there’s a reason this card is constantly topping travel rewards card lists.

Besides the generous welcome bonus, new applicants won’t have to worry about foreign transaction fees or dealing with Chase’s pesky 5/24 rule (which means your application won’t be accepted as long as you’ve already applied for five credit cards within 24 months).

If, however, your credit card strategy involves adding more Chase cards (like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve), you may want to hold off on this one until you’ve gotten those since adding the Amex Platinum Card would contribute to your list of five new cards in Chase’s eyes.

In general, the Amex Platinum Card is worth signing up for if you plan to maximize all the statement credits, if you prefer to book flights and hotels through AmexTravel.com (or flights directly with the airline) or if you prefer to transfer your points to one of its 21 travel partners.

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FAQ

Is The Amex Platinum still a good credit card?

If you love airport lounges and swanky hotels, The Amex Platinum is an excellent choice. It all comes down to your travel style and whether or not you can use all the card’s benefits. If you don’t plan on traveling or maximizing the included statement credits, a different travel credit card might be a better option.

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What lounges can you get into with the Amex Platinum?

You’ll have access to over 1,400 lounges worldwide, including American Express Centurion® Lounges and Escape Lounges (The Centurion® Studio Partner), Plaza Premium Lounges, Delta Sky Club lounges (limited to 10 days per year as of Feb. 1, 2025), Priority Pass Select lounges, Lufthansa lounges and other Global Lounge Collection partners.

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How much are American Express Membership Rewards points worth?

Cardholders will get the most value by transferring points to an airline or hotel partner. Membership Rewards points are worth up to 1 cent per point when redeemed for gift cards or 0.6 cents per point when exchanged for statement credits. They’re also worth anywhere from 0.7 to 1 cent per point when used to pay for online purchases or up to 1 cent per point when you use the Pay with Points feature through American Express Travel.

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Is it hard to qualify for The Platinum Card® from American Express?

You’ll need a good to excellent credit score (670 to 850) to be accepted. Additional factors like your debt-to-income ratio, credit history and current income also come into consideration to determine your creditworthiness. Check your credit report for free on AnnualCreditReport.com to see where you stand with the main credit bureaus (Experian, TransUnion and Equifax).

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* 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.

Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.