The Platinum Card® from American Express Review

You can earn and redeem American Express Platinum card points by using this card for purchases. With your American Express Platinum card, you'll earn 1 - 5 points per $1 spent on purchases. To qualify for this card's 5 points / $1 rewards rate, flights must be booked directly through the airline's website or through Amex Travel (up to $500,000 spent per year), and hotels must be booked through Amex.

In addition, the American Express Platinum card also offers 80,000 points for spending $6,000 in the first 6 months. When you redeem American Express Platinum card points, they're worth 0.7 cents to 1 cent each in most cases.

Here's how to redeem American Express Platinum card points: 

• Book travel through Amex. Log in to your American Express Platinum card account via the Amex travel portal. Then, search for the transportation and accommodations you want to book. There will be an option to pay with points at the check-out.
• Transfer points. You can actually move your points at a 1:1 ratio to 17 airline and 3 hotel loyalty programs. To do so, log in to your Amex account and choose the loyalty program you wish to transfer your points to. Keep in mind that you have to transfer in at least 1,000-point increments in most cases.
• Get gift cards. Log in to Amex's gift card reward page to make your selection. There are dozens of options to choose from, including restaurants, movie theatres, and airlines. 
• Donate. You can make a charitable donation with your rewards points online through Amex's JustGiving page.  
• Amazon Shop with Points. If you connect your Amex card to your Amazon account, you can use their Shop with Points system to spend points on merchandise. But you'll only get 0.7 cents per point using this method.
• Statement credit. You can use your points to pay your credit card bill, at a rate of 0.6 cents per point. You can do so by logging in to your American Express Platinum card online account.
• Shopping. You can also spend your points towards Rite Aid purchases, Bestbuy.com, Staples.com and a few other sites (0.7 cents per point). Plus, you can use your points at a rate of 1 cent each toward NYC Taxi rides.

For more redemption options and current point values, check the Membership Rewards Points calculator. 

In addition, American Express Platinum card points do not expire as long as your account is open and in good standing. Points are forfeited when closing an account, so make sure to redeem them before that. 

The American Express Platinum card lounge access benefit gives cardholders free entry to a network of 7 airport lounge programs with a combined 1,200+ locations in more than 130 countries. All that's required to get access to these lounges, also known as the “Global Lounge Collection,” is:

1. Your American Express Platinum card
2. A government-issued ID
3. A boarding pass showing a confirmed reservation for same-day travel.

Keep in mind, though, that each lounge network has different access requirements and guest policies, so let's take a look at each.

Here's how the American Express Platinum card lounge access works:

• The Centurion Lounge: You can access Centurion Lounges when flying with any airline, as long as you have a boarding pass for a flight departing within three hours. You can bring up to two guests with you at no additional cost.
• The International American Express Lounges: You can access American Express Lounges when flying with any airline, as long as you have a same day boarding pass. Guesting privileges vary by lounge, but you can generally bring two guests with you at no additional cost.
• Delta Sky Club: You can access Delta Sky Clubs when you're flying on a Delta-operated flight. American Express Platinum card holders don't get any complimentary guests but may purchase guest access for up to two traveling companions.
• Priority Pass (enrollment required): Provides access to more than 1,300 lounges worldwide but doesn't include Priority Pass restaurant lounges. You can bring up to two guests with you at no additional cost.
• Plaza Premium Lounge: You can access Plaza Premium Lounges when flying with any airline, as long as you have a boarding pass for same day travel. You can bring up to one guest with you at no additional cost.
• Air Space Lounge: You can access Airspace Lounges when flying with any airline, as long as you have a boarding pass for same day travel. You can bring up to two guests with you at no additional cost; each person being admitted receives a $10 credit towards food and premium drinks.
• Escape Lounges: You can access Escape Lounges when flying with any airline, as long as you have a boarding pass for same day travel. You can bring up to two guests with you at no additional cost.

Each lounge has its own set of perks, but typically, they offer access to an array of amenities ranging from cell phone charging stations to free Wi-Fi and conference rooms. There's also complimentary hot and cold food, snacks, alcoholic and non-alcoholic beverages, and more.

Here's how to find American Express Platinum card partner lounge locations:

To find an Amex partner lounge location, visit the Global Lounge Collection website and type in the city or airport code in the search field. Restrictions on visitors vary by lounge, but nearly all locations allow complimentary access for at least one guest or immediate family member.

Here's the value of American Express Platinum card lounge access:

The cost of purchasing airport lounge membership is constantly increasing. It's not unusual to see $600 annual membership fees for access to a lounge network. The American Express Platinum card lounge access is a benefit that, if you use it often enough, could save you hundreds of dollars and help offset the card's $695 annual fee. There's no limit to the number of times you can visit each lounge, as long as your American Express Platinum card is active and in good standing.

No, you don't have to pay off all American Express card every month. Most Amex credit cards allow you to carry a balance from month to month, requiring only a monthly minimum payment to keep your account in good standing. Some even offer 0% introductory APRs. That's the case with some of the best American Express credit cards like:

American Express Credit Cards You Have to Pay Off Every Month

On the other hand, you do have to pay some American Express cards in full every month. These include:

But there are exceptions. If you have one of those cards and use it responsibly, American Express may offer to let you pay for certain purchases over time. Interest will apply to such purchases, though, at a rate that won't be disclosed until Amex extends an offer.

You can check out WalletHub's review of the best American Express credit cards to find a good option for carrying a balance. Just don't expect to find a low regular APR. American Express credit cards are known more for rewards than low rates. All information about the American Express Cash Magnet® Card has been collected independently by WalletHub. The American Express Cash Magnet® Card is no longer available to new applicants through WalletHub, but may be available on the American Express website.

American Express points are worth 0.67 cents per point, on average. The value of American Express points depends on how you choose to redeem the points. For example, points from American Express are worth up to 0.77 cents each when redeemed for travel through the Membership Rewards program, and they are worth 0.6 cents each when redeemed for cash back.   

American Express Points Worth by Redemption Method

Popular American Express Cards

• American Express® Gold Card
• The Platinum Card® from American Express
• American Express® Green Card
• American Express® Business Gold Card
• The Blue Business® Plus Credit Card from American Express
• The Business Platinum Card® from American Express

Tips for Maximizing the Value of American Express Points

Redeem Points for Travel.

American Express points are worth the most when redeemed for travel.

Redeem American Express points regularly.

American Express points do not expire due to account inactivity, but stockpiling points does put you at risk of rewards devaluation. Plus, you won't get to enjoy the fruits of your spending if you don't redeem.

Keep your account in good standing.

If American Express closes your account because of a failure to pay the bill or fraudulent activity, you'll lose any unredeemed points you have saved. And if you pay late, you might have to pay a fee to get back the points from that billing period.

Redeem before closing your account.

Any points you don't redeem before closing your account will be lost, unless you keep another American Express credit card account open.

Yes, you can get into a Delta Sky Club lounge with an American Express Platinum card. As a matter of fact, both primary cardholders and authorized users get complimentary access to Delta Sky Club lounges. To enter, bring the American Express Platinum card, a government-issued photo ID and a Delta airline ticket valid for that same day. Delta Sky Club offers a wide array of perks at its 50+ U.S. airport locations.

Perks offered by the Delta Sky Club:

• Complimentary snacks and beverages 
• Bar service (for guests 21 and older)
• High-speed Wi-Fi
• Newspapers and magazines
• Satellite TV
• Showers
• Productivity tools (data ports and Wi-Fi Xerox Printers for scanning and printing in select U.S. locations. 

Sky Club individual memberships are worth $545 annually, which nearly offsets the cost of the American Express Platinum card's $695 annual fee.

The American Express Platinum card Priority Pass benefit gives you access to more than 1,300 airport lounges around the world. It's a $429-per-year value. Plus, Priority Pass is just one of the six chains of airport lounges that American Express Platinum card gives you access to for free. It also gets you into the Centurion Lounge, International American Express Lounges, Plaza Premium Lounges, Delta SkyClub, Airspace and Escape Lounges. You can use the Amex lounge finder tool to see which lounges are in the airport you're headed to.

Out of all the lounge programs you get access to with the American Express Platinum card, Priority Pass is special because it's the only one that requires enrollment. You'll need a membership card, not just the American Express Platinum card, to enter Priority Pass lounges.

Here's how to get your American Express Platinum card Priority Pass benefit:

1. Log into your Amex account with your username and password.
2. Select the "Membership" tab, then click "Benefits."
3. Find the Priority Pass section and click "Enroll in Priority Pass Select."
4. Wait for your card to arrive. It should take 10-14 business days.

If you don't want to enroll online, you can do it over the phone at (800) 801 6564. Once you receive your membership card in the mail, just show it at the entrance to any Priority Pass lounge and you'll be admitted. You can bring in guests, too, although individual lounges can limit the number of people you're allowed. Once inside, you'll get to enjoy amenities like free food and beverages, Wifi, comfortable seating, and more.  

The American Express Platinum card Marriott benefit offers complimentary Gold Elite Status in the Marriott Bonvoy hotel loyalty program, giving American Express Platinum card cardholders extra bonus points during each stay, complimentary room upgrades (when available), 2 p.m. late checkout (when available) and more.  American Express Platinum card cardholders must activate the Gold Elite Status upgrade in order to be eligible for the benefits.

Here's how the American Express Platinum card Marriott benefit works:

• What you get: Complimentary Gold Elite Status in the Marriott Bonvoy hotel loyalty program. This comes with extra bonus points during each stay, room upgrades (when available), 2 p.m. late checkout (when available), complimentary in-room fast internet access, welcome gift of points at arrival, and more.
• How to get it: You must enroll in the program and activate the Gold Elite Status upgrade to be eligible for the benefits. To activate, log in to your online account and, from the benefits tab, click the Marriott Bonvoy benefits page. When prompted, enter your Marriott account information. If you don't have a Marriott account, you can create one for free on the Marriott Bonvoy Once you've verified the information is correct, the benefit will be activated immediately. To earn points, you must book stays directly with Marriott.
• Expiry: You will maintain Gold Elite Status without needing to meet required criteria asl long as your American Express Platinum card account is open and American Express continues to offer this benefit.

The American Express Platinum card Marriott benefit is quite valuable if you stay at Marriott properties more than a few times a year. The benefit also includes both the Starwood Preferred Guest (SPG) and Ritz-Carlton Rewards programs. Without the benefit, you'd need to spend at least 25 nights at Marriott hotels to qualify for Gold status. Just bear in mind that cardholders must book stays directly with Marriott, not through a third-party website, to earn Gold status benefits.

The American Express Platinum card is a great travel credit card with travel perks that go beyond Marriott properties. If you're a frequent traveler who favors Marriott, feel free to also take a look at our editors' picks for some of the best Marriott credit cards.

The American Express Platinum card car rental insurance covers cardholders for up to $75,000 in collision damage and theft for vehicles rented with the American Express Platinum card or American Express rewards points. To get the American Express Platinum card car rental insurance coverage, you must decline the rental agency's supplemental insurance policy. To make a American Express Platinum card rental car insurance claim, call (800) 338-1670 within 30 days of a covered incident.

There are a few exceptions you should be aware of, though. And there are more details about the process you'll need to follow to actually get your money. You can find the key points below.

Here's more info about the American Express Platinum card car rental insurance:

• You're covered up to $75,000 per claim for collision damage or theft.
• You must pay for the entire rental with your American Express Platinum card or rewards points.
• You must decline the rental agency's insurance policy.
• The following types of vehicles are not covered by American Express Platinum card rental car insurance: Cargo vans, vans that carry 9+ people, box trucks, trucks that weight 10k+ lbs., modified vehicles (except for handicapped accessibility), antiques, limos, off-road vehicles, motorcycles/motorbikes/mopeds, RVs, golf carts, and a few others. Geographic restrictions also apply. 
• The following situations and types of damage are not covered by American Express Platinum card rental insurance: Manufacturing defects, wear and tear, damage from illegal activities, accidents caused by driver's intoxication, seizure by authorities, damage by war, and a few others.
• To make an American Express Platinum card rental car insurance claim, call (800) 338-1670 within 30 days of the incident. If you're abroad, collect at (303) 273-6497. Amex will then mail you instructions for what to do next. You'll have 60 days to return any proof they request, which may include damage estimates, police reports, etc.

The American Express Platinum card rental car insurance will reimburse you within 90 days of American Express receiving your proof of the incident. Before you rent a car with your American Express Platinum card, you should take some time to read through the benefits guide. It will give you the full information.

Car Rental Loss & Damage Insurance disclosure: 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. Car Rental Loss or Damage is offered through American Express Travel Related Services Company, Inc.

Yes, the American Express Platinum card does have a referral bonus. You can receive an American Express referral bonus if someone gets approved for an Amex credit card using your referral link.

Here's more info about the American Express Platinum card referral bonus: 

• How to get a referral link: To refer someone for American Express Platinum card, log in to your online account from the Amex referral page. Then, select the American Express Platinum card from the credit card referral menu, and click the “Refer Now” link.
   
  After that, enter the e-mail address for the person you want to refer so Amex can send them a referral e-mail. Or, if you prefer, you can choose a referral link to customize and share via e-mail, text, or social media. 
• Bonus amount: The bonus amount you'll get depends on each specific card or offer. Amex offers the possibility for your friends to apply to other credit cards as well, and you'll still get the referral bonus. After your friends access the referral link, they will be able to see all the cards that have a referral offer.
   
  If you have a co-branded card, your friends must apply for the same card you have in order for you to receive the bonus. Your friends may also be eligible to earn a welcome offer when they apply through the referral link and they are approved.
• Limits: You can refer as many people as you like, but you may only earn up to a certain amount per calendar year.
• Bonus posting time: The American Express Platinum card referral bonus points should appear on your statement within 8 to 12 weeks of approval.  

For more information and bonus amount on each specific card, check your referral offer terms. Exclusions and limits might also apply. Some cards that no longer accept applications may not be eligible. Moreover, additional and employee card members are not eligible to refer their friends. 

No, the American Express Platinum card does not offer an Admirals Club membership anymore. The card currently offers complimentary access to several other airport lounges through its Global Lounge Collection. You can access several lounges free of charge, including Delta Sky Club, Priority Pass (enrollment required), and the Centurion Lounge in more than 1,400 combined locations in 140+ countries.

Alternative credit card with an Admirals Club membership:

If you are looking for a card that offers free Admirals Club membership, you should check out the Citi® / AAdvantage® Executive World Elite Mastercard®, instead. This card comes with a complimentary Admirals Club membership (a $650 yearly value). It allows the cardholder and up to two guests access to more than 50 clubs and 60 partner lounges worldwide. Amenities vary by location and may include free food and snacks, alcoholic and non-alcoholic beverages, business centers, and free digital newspapers and magazines.

However, unless you fly with American Airlines often, you'll likely get more value from the American Express Platinum card's Global Lounge Collection. It offers access to a higher number and wider variety of lounges in more locations than Admirals Club. But to be sure, check your local airport and any airports you travel to frequently to see which lounges are available.