Yes, Amex Platinum is worth its $695 annual fee if you qualify for its initial bonus and take full advantage of benefits such as airport lounge access and airline fee credits. To earn the 80,000 points initial bonus, you need to spend $8,000 in the first 6 months your Amex Platinum account is open.
Amex Platinum cardholders who earn the initial bonus and use the card regularly could earn over $1,600 in net value (rewards and other perks, minus the $695 annual fee) during the first year alone, according to WalletHub's research.
All in all, Amex Platinum is a good card for big spenders who travel all the time and can wring every drop of value out of its benefits. But it’s far too expensive for light spenders and occasional travelers.
With the American Express Platinum card you also earn several other statement credits (for Uber, hotels, and more), 0% foreign transaction fee, and travel insurance. On top of that, this card comes with an initial bonus of 80,000 points for spending $8,000 in the first 6 months.
The American Express Platinum card credit score requirement is 700 or higher. This means applicants need good credit or better to be approved for the American Express Platinum card in most cases. If you don’t know where you stand, you can check your credit score for free, right here on WalletHub. To gauge your odds of approval, you can also check to see whether you pre-qualify for American Express Platinum card offers.
The American Express Platinum card credit score requirement isn’t the only thing that determines whether you’ll be approved, though....
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