Is Amex Platinum worth it?

The best American Express Platinum card travel benefits are its access to 1,200+ airport lounges worldwide, its annual airline credit, and complimentary Gold Status in the Hilton Honors and Marriott Bonvoy loyalty programs (when enrolled). Plus, you get 5 points / $1 spent on flights (up to $500,000 spent per year) and prepaid hotels booked through American Express Travel. And to top it off, you earn several other statement credits (for ... read full answerUber, 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 $6,000 in the first 6 months.

Here are some notable American Express Platinum card travel benefits:

• Annual Airline Credit: Annual statement credit for airline incidentals at one select qualifying airline. You can’t use the credit for airfare or upgrades.
• Hotel Credit: Annual statement credit on prepaid Fine Hotels + Resorts or The Hotel Collection bookings on Amex Travel (requires a minimum two-night stay).
• Credits for Uber Rides: Uber VIP Status and annual savings on rides or eats order in the U.S.
• Complimentary Hotel Status: Cardholders can enroll in Hilton Honors and Marriott Bonvoy as Gold-level members free of charge. Members get complimentary room upgrades and more opportunities to earn free nights.
• Global Entry or TSA PreCheck Credit: Credit for the Global Entry application fee or the TSA PreCheck application fee. Both services expedite airport screening.
• Travel insurance: Includes several insurance benefits, such as trip delay insurance, trip cancellation/interruption insurance, lost/damaged baggage insurance, and rental car insurance.
• Global Lounge Collection: Lets you access over 1,200 airport lounges in 130+ countries at no additional cost.
• Fine Hotels & Resorts: Extra benefits when you book certain accommodations, like free room upgrades, free daily breakfast for two people, free Wi-Fi, and unique amenities depending on the location.
• Travel Spending Rewards: New cardholders get a welcome offer of 80,000 points for spending $6,000 in the first 6 months. You also earn extensive ongoing rewards, including 5 points / $1 spent on flights (up to $500,000 spent per year) or prepaid hotels booked through Amex Travel. Points do not expire as long as the account remains open.

Despite all of the American Express Platinum card travel benefits, its $695 annual fee might still be too much for you, if you don't travel or spend enough to offset its cost. There are some other good options, fortunately. One of the best is the Chase Sapphire Preferred® Card; you’ll earn 60,000 points when you spend $4,000 in the first 3 months, and the annual fee is just $95. And that's in addition to several other benefits and rewards that come with Chase Sapphire Preferred.

Feel free to also take a look at our editors' picks for the best travel credit cards on the market.

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.... read full answer

The American Express Platinum card credit score requirement isn’t the only thing that determines whether you’ll be approved, though. Your credit history, income and any debt you’re carrying will also play a role in your approval odds. In fact, reports around the internet suggest you can get approved with slightly lower credit score if you have high enough income.

If you don’t meet the American Express Platinum card credit score requirement, there are plenty of other credit cards you can get. They likely won’t be from American Express, though, since Amex cards require good or excellent credit. The best credit cards for fair credit also have rewards that fit various spending habits. Once you get a credit card, be sure to make all of your payments on time, and try to keep your credit utilization below 30%. This will help raise your credit score so you can get approved for a card like American Express Platinum card in the future.