The Platinum Card from American Express Review: The Ultimate Travel and Lifestyle Card With 80,000 Bonus Points

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The Platinum Card® from American Express

Learn More

Terms Apply

Rates & Fees

• Our Rating 4.5/5 How our ratings work
• APRSee Pay Over Time APR
• Annual Fee$695
• Welcome Bonus 80,000Membership Rewards Points More Info

  Earn 80,000 Membership Rewards® Points after you spend $8,000 in purchases on your new Card in your first 6 months of Card Membership Dollar Equivalent: $1,520 (80,000 Membership Rewards Points * .019 base)

This is the premier travel rewards card. It has the best worldwide lounge access and access to American Express transfer partners, which can be extremely valuable when booking airfare or hotels. Even more, the card has several credits available to help offset the hefty annual fee, including for hotels, digital entertainment, Walmart+, Uber, and airline fees. Enrollment is required for select benefits.

A Premium Card Among Premium Cards

When it comes to credit card benefits, The Platinum Card^® from American Express is nearly unbeatable. Unlike typical credit cards, this card allows you to carry a balance for certain charges, but not all. And despite an eye-watering annual fee of $695 (see rates and fees), the card offers an incredible amount of value, both in terms of travel and lifestyle benefits (Terms Apply). If you can stomach the card’s high annua; fee and your lifestyle makes it easy to maximize the value of its high-end perks, the American Express Platinum Card may be a great fit.

The Platinum Card from American Express isn't a standout when it comes to rewards rates, but if you're looking for a card to elevate your travel experience and provide solid monthly lifestyle benefits, this one should be on your radar.

Cardholders get access to various monthly and annual credits for things like airline fees, digital entertainment, food delivery, luxury shopping and more. You'll also get special travel-related perks, including airport lounge access, luxury hotel benefits and elite status. Enrollment is required for select benefits. If you're considering the American Express Platinum Card, here's everything you need to know.

Welcome Offer

When you first open an American Express Platinum Card account, you can earn an impressive 80,000 Membership Rewards points after you spend $8,000 on eligible purchases in the first six months of card membership—that's a little over $1,000 in spend per month, which should be easy to achieve for some. 

Depending on how you redeem your welcome offer, it could be worth up to $1,000 with American Express or more if you transfer your points to one of the card issuer's transfer partners, based on our editors' estimations. Keep in mind that if you've earned the welcome offer on an Amex Platinum Card in the past, you won't be eligible to receive it again. American Express has a strict once-per-lifetime rule for welcome offers on its cards.

Rewards Rates

While this card's welcome offer is impressive, it's not a rewards juggernaut in the long term. Cardholders can earn the following:

• 5X points on flights booked directly with airlines or American Express Travel (up to $500,000 spent per calendar year).
• 5X points on prepaid hotels through AmexTravel.com.
• 1X points on other purchases.

Frequent travelers who spend a lot on flights and hotel stays should focus their spending in those areas on this credit card. For other purchases, you're likely better off with a different card with better rewards.

That said, you can mix your points earned with this card with other Membership Rewards point-earning credit cards—pairing it with a card like the American Express^® Gold Card can make it easier to rack up points faster.

Annual Fee and APR

The American Express Platinum Card charges a steep $695 annual fee—that's one of the higher annual fees on a card that's widely accessible. Prestige cards like The Centurion^® Card from American Express charge more, but those are highly exclusive, and most consumers aren't eligible to apply.

Other Fees

The card doesn't charge a foreign transaction fee, but there is a 5% cash advance fee ($10 minimum), as well as a fee of up to $40 for late and returned payments (see rates and fees).

How to Redeem Points

The Membership Rewards program offers serious flexibility with how you can redeem your points. Unfortunately, American Express doesn't provide a lot of value with most redemption options. If you want to make the most of your rewards, your best bet is to transfer your points to one of the card issuer's partner airlines.

Here's a list of some ways you can redeem your points and how much they're worth.

Book Travel

You can use your points to book travel directly with American Express Travel. Options include:

Statement Credits

If you want to cover charges you've made to your card, you'll get 0.7 cents per point on Fine Hotels & Resorts purchases and 0.6 cents per point on all other purchases.

Pay With Points at Checkout

You can use your rewards points to pay when you're shopping online, donating to charity or even taking a taxi in New York City.

Gift Cards

You can redeem your hard-earned points for gift cards with a long list of merchants, with redemption values up to 1 cent per point, depending on the retailer or restaurant.

Additionally, you can use your points to buy American Express gift cards, which you can use anywhere Amex is accepted. However, the redemption value for this option is a measly 0.5 cents per point.

You can use the Membership Rewards points calculator to get more details on redemption values.

Transfer Your Points

The best way to maximize the value of your Amex points is to transfer them to one of the card issuer's travel partners. Here's a list of both airline and hotel partners, along with the transfer ratio estimates of those points and miles based on Slickdeals' estimations and data from other points and miles experts:

With a savvy redemption, you could get far more value by transferring your points. The point valuations can vary, depending on your specific redemption. One of the best ways to make the most out of airline transfers is to book international first-class and business-class flights. 

While Amex does allow you to transfer rewards to hotel programs, you're better off avoiding those unless you're short a few thousand points for a stay with the partner hotel brand and need to top off your account to make it work.

Benefits

Where the American Express Platinum Card really shines is in its suite of benefits. Even if you rarely use the card to get the 5X Membership Rewards points on flights (on up to $5000,000 per year) and prepaid hotels via AmexTravel.com, you can get far more value from the card's benefits than its $695 annual fee.

Credits

Note that some of these benefits require that you enroll through your online account before you can use them, so make sure you check before you try to use them:

• Airline fee credit: Up to $200 each calendar year in statement credits for eligible airline fees, such as checked baggage, in-flight food and drink and Wi-Fi charged by the airline. You can choose one airline each year for which to receive the credits.
• Uber Cash: Up to $200 in Uber Cash each calendar year—$15 per month for most months plus an additional $20 in December. You can use your Uber Cash for U.S. Uber rides, Uber Eats and Uber Groceries. You must add your American Express Platinum Card to your Uber account and use an eligible American Express card for payment.
• Digital entertainment credit: Up to $240 in annual statement credits toward select digital entertainment subscriptions each calendar year. The credit is broken down so you receive up to $20 per month, and it applies to subscription fees for Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal when you purchase directly and pay with your card.
• Prepaid hotel credit: Up to $200 in statement credits each calendar year toward prepaid Fine Hotels + Resorts® or The Hotel Collection bookings booked through Amex Travel. The Hotel Collection requires a minimum two-night stay.
• Other hotel credits: Book a stay at a property in the Fine Hotels & Resorts brand or The Hotel Collection through Amex Travel and get benefits such as a $100 on-property credit (eligible charges vary by property), late checkout, daily breakfast for two and more, depending on the property.
• Equinox credit: Up to $300 in statement credits each calendar year when you use your American Express Platinum Card to pay for the Equinox+ digital fitness app or eligible Equinox club memberships.
• Global Entry or TSA PreCheck® credit: Every four or four-and-a-half years, you can get an application fee credit worth up to $120 toward membership in Global Entry or TSA Precheck.
• Saks Fifth Avenue credit: Every six months, cardholders get a credit worth up to $50 toward shopping at Saks Fifth Avenue or saks.com. The credit is available between January and June, then again from July to December, for a total of $100 a year.
• CLEAR Plus membership credit: Each year, receive a credit worth up to $199 toward membership to CLEAR Plus, which offers expedited security screening and can be used in conjunction with TSA PreCheck.
• Walmart+ membership credit: When you use your card to pay for a monthly membership with Walmart+, you'll get a monthly statement credit of up to $12.95 for the subscription, worth up to $155 each year.

Airport Lounge Access

The American Express Platinum Card offers access to more airport lounge networks via the American Express Global Lounge Collection® than any other top-tier travel credit card. Your options include:

• The Centurion® Lounge
• Escape Lounges - The Centurion Studio Partner
• Delta Sky Club (flying Delta)
• Delta Sky Club (when not flying Delta, 10 visits per year with the ability to unlock unlimited access with spend)
• Lufthansa Lounges (when flying Lufthansa Group)
• Priority Pass Select (enrollment required)
• Plaza Premium Lounge

There may be restrictions with some of these lounges, especially with how many guests you can bring with you.

Elite Status

You can enroll to get complimentary Gold status with both the Hilton Honors and Marriott Bonvoy hotel loyalty programs. Benefits vary by program but may include things like premium Wi-Fi, early check-in, late checkout and more. You'll also be able to enroll to get complimentary premium status with Avis Preferred®, Hertz Gold Plus Rewards® and National Car Rental® Emerald Club, which can give you access to exclusive discounts and complimentary upgrades. 

Travel and Shopping Protections

The American Express Platinum Card offers several insurance protections for travel and shopping. That list includes:

• Trip cancellation and interruption insurance⁶
• Trip delay insurance¹
• Baggage insurance²
• Car rental loss and damage insurance³
• Purchase protection⁷
• Return protection⁸
• Extended warranty⁴
• Cellphone protection⁵

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Is the American Express Platinum Card Right for You?

The American Express Platinum Card offers a wealth of benefits that outpace the cost of its annual fee. But unless you can make the most of each perk, it might not be enough to make the card worth its cost. 

The Platinum Card® from American Express

Learn More

Terms Apply

Rates & Fees

• Our Rating 4.5/5 How our ratings work
• APRSee Pay Over Time APR
• Annual Fee$695
• Welcome Bonus 80,000Membership Rewards Points More Info

  Earn 80,000 Membership Rewards® Points after you spend $8,000 in purchases on your new Card in your first 6 months of Card Membership Dollar Equivalent: $1,520 (80,000 Membership Rewards Points * .019 base)

This is the premier travel rewards card. It has the best worldwide lounge access and access to American Express transfer partners, which can be extremely valuable when booking airfare or hotels. Even more, the card has several credits available to help offset the hefty annual fee, including for hotels, digital entertainment, Walmart+, Uber, and airline fees. Enrollment is required for select benefits.

Carefully consider how you might benefit from the card and whether it's worth the annual fee for you. If you're looking at the American Express Platinum Card, consider pairing it with the American Express® Gold Card to get more rewards value. Before you apply, though, be sure to research and consider other top-tier credit cards to determine which one is the best fit for you.

Disclosures

^{For rates and fees of The Platinum Card® from American Express, please visit https://www.americanexpress.com/us/credit-cards/card-application/apply/prospect/terms/platinum-card/25330-10-0#FeeTable}

^{1 Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period.   Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.}

^{2 Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip.  For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip.   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.}

^{3 Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply.   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 Coverage is offered through American Express Travel Related Services Company, Inc.}

^{4 When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year.   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.}

^{5 Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period.   Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.}

^{6 The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period.   Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.}

^{7 Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply.   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.}

^{8 With Return Protection, you may return eligible purchases to American Express if the seller won’t take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories.   Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.}