The
American Express Platinum Card® is a very good card for high-spending frequent travelers with good credit or better. The
Platinum Card® has a pricey annual fee, charging
$895, but it is
worth the cost for people who take advantage of its assorted benefits and rewards.
What I Like About the American Express Platinum Card®
Big initial bonus offer
You may be eligible to earn as high as
175,000 points for spending at least
$12,000 on eligible purchases within
6 months of opening an account. Welcome offers vary and you may not be eligible for an offer. Here’s how it works:
- Apply and find out if you’re approved, along with your exact welcome offer amount.
- Accept the card with your offer.
- Spend at least $12,000 within 6 months.
- Receive your points.
Airport lounge access
The
Platinum Card® gives eligible card members complimentary access to over 1,550 airport lounges worldwide, including the Amex Centurion Lounge network (terms and limitations apply, depending on the lounge). Other top-tier travel rewards cards may give you access to a similar number of lounges, but they won’t have the most exclusive locations.
Annual travel credits
Cardholders can select one qualifying airline and get up to $200 per year in statement credits for baggage fees and other incidentals charged by that airline to the card. For example, this credit can apply to in-flight refreshments, pet fees, and fees for changing your flights, among other things.
Cardholders can also get:
• As much as $200 in annual Uber Cash (when you link your card and use it to pay)
• Up to $600 in statement credits each year ($300 in statement credits semi-annually) for prepaid bookings made through American Express Travel at Fine Hotels + Resorts® or The Hotel Collection properties.
• A $209 CLEAR+ credit each year you pay for membership in the airport screening program with the card.
Note that The Hotel Collection requires a minimum two-night stay. Also, remember that these perks are only good if you use them. If you don’t travel much, it will be difficult to actually get value from these benefits.
Other valuable credits
Platinum Card®’s long menu of statement credits extends well beyond annual travel perks. You can also sample the following credits to help recoup your investment in the card’s annual fee.
• $400 Resy dining credit. You can get up to $100 in statement credits per quarter (enrollment required).
• $300 lululemon credit. You can get up to $75 in statement credits per quarter to use at U.S. lululemon retail stores (excluding outlets) and lululemon.com (enrollment required).
• $155 Walmart+ credit. You get monthly credits when you pay for the membership with your card (up to $12.95 plus applicable local sales tax; Plus Ups not eligible).
• $300 Digital Entertainment credit. This gives you up to $25 in statement credits per month on eligible purchases made directly on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV (enrollment required).
• Up to $120 credit for Global Entry/TSA PreCheck®. You can get this membership fee credit every four years or so.
Again, simply having access to these credits won’t do you any good. You have to actually use them to save, and in many cases, people forget. But the potential does exist for your investment in the car’s annual fee to pay off nicely.
Solid travel rewards
The
Platinum Card® gives you 5 points per $1 spent on airfare, up to $500,000 spent per calendar year, as long as you book directly with the airline or with American Express Travel®. You’ll also get 5 points per $1 spent on prepaid hotel reservations booked with American Express Travel.
That is a great earning rate compared to the
1.2 points per $1 you’d get with the average rewards card.
Automatic hotel status
As an
American Express Platinum Card® user, you will be able to enroll in the Hilton and Marriott loyalty rewards programs as a Gold member without meeting any of the standard spending requirements. This gives you access to perks such as complimentary room upgrades and enables you to earn free nights faster.
For more information about these loyalty programs, check out WalletHub’s
Hilton and
Marriott rewards program reviews.
Good customer service
The
Platinum Card® has a reputation for good customer service. You can get help 24/7 with pretty much anything. You can reach the
Platinum Card® concierge at
1-800-525-3355, and the general customer service number is
1-800-528-4800.
No foreign transaction fee
While this should be expected from a luxury travel card, the ability to save around
$28.25 on every purchase processed abroad could nevertheless prove to be quite valuable. That is, of course, if you can find a merchant that accepts American Express. It’s not as widely accepted abroad as Visa and Mastercard.
What I Don’t Like About the American Express Platinum Card®
$895 annual fee
The
American Express Platinum Card®'s annual fee is
$895. That is a very high fixed cost for cardholders, especially compared to the average credit card annual fee (
$28.25). Nevertheless, frequent travelers can definitely still get their money’s worth from the card’s rewards and other perks. It’s just a steeper hill to climb.
Good credit or better recommended for approval
The
American Express Platinum Card® is only available to people with
good credit or better, so make sure to
check your credit score for free on WalletHub before applying. Many people who want to get this card won’t be able to qualify.
You have to pay in full most of the time
The
American Express Platinum Card® is not a traditional credit card, which means you generally need to pay your monthly bill in full if you want to continue making purchases.
Certain eligible charges may qualify for the card's “Pay Over Time” feature (up to the Pay Over Time Limit), which allows you to carry a balance but requires you to pay interest. However, all charges not added to a Pay Over Time balance must be paid in full each month by the payment due date. As a result, you may need to find another card for big-ticket purchases.
Uncertain spending limit
The
American Express Platinum Card® has
no preset credit limit. That means the amount you can spend may change from month to month based on your usage of the card, credit history, income and more. That does not mean unlimited spending, though.
If you’re not convinced the
American Express Platinum Card® is the right card for you, check out WalletHub’s picks for the
best overall travel rewards credit cards on the market right now.
Other premium offers are available, in addition to more affordable options.Note: This review is not provided, commissioned or endorsed by any issuer. Opinions and ratings are our own.
