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The Platinum Card® from American Express Review

The best card for luxury travel benefits.

By Sebastian F.|Updated on 8/18/2023

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The Platinum Card® from American Express is one of the best travel cards in the world. Although there is a hefty annual fee, you also get more than $1,400 in credits which might help offset this.

Terms apply to Amex offers and benefits. Rates & Fees

card art for the The Platinum Card® from American Express

The Platinum Card® from American Express

Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

Check if you're pre-approved for this card or special offers using the CardMatch Tool.

The Platinum Card® from American Express is one of the best travel cards, especially if you can use the many credits. For many, this becomes a highly subsidized lounge access and travel perks card.

Read the full review

Point Multipliers

The Platinum Card® from American Express earns Membership Reward (MR) points, including:

  • 5x on Flights booked directly with airlines or through Amex Travel (on up to $500,000 spent per calendar year)
  • 5x on Prepaid Hotels booked on AmexTravel.com
  • 1x on other purchases

Terms apply.

The Platinum Card® from American Express Calculator

Cardonomics calculates the expected value of the The Platinum Card® from American Express based on the information you provide. The expected value is calculated based on the dollar value you input into the calculator.

The default figures in the calculator are just an example, so you should enter your own information for more accurate results. The methodology for this calculator is explained at the bottom of the post.

The Platinum Card® from American Express Intro Offer

Are you eligible for the intro offer? You are not eligible if you have or have had the card (even without getting the bonus).

Are you able to complete $8,000 of spend in the first 6 months?

The current public offer is 80,000 MR. What bonus are you considering?

MRpoints

points earned from intro offer:

0

Credits: How Do You Value Them?

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$200 Uber Cash
$
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$200 Airline Fee Credit
$
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$200 Hotel Credit
$
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$100 Saks Credit
$
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$189 CLEAR Credit
$
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$155 Walmart+ Credit
$
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$300 Equinox Credit
$
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$300 SoulCycle Credit
$
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$240 Digital Entertainment Credit
$
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$100 for Global Entry or $85 for TSA Pre✓® credit
$

The Platinum Card® from American Express annual fee is $695.

Total value of credits: $1,129

Other Perks and Benefits: How do you value them?

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Centurion Lounges
$
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Delta Sky Clubs
$
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Priority Pass and other partner airport lounges
$
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Hotel status (Marriott Gold + Hilton Gold)
$
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Access to Fine Hotels and Resorts Program
$
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Other benefits (Car rental status, Resy, travel protections, etc.)
$

Value of other perks and benefits:

Airport perks$150
Hotel perks$0
All other benefits$50
Total value:$200

Point Multipliers: Category Spend

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Flights booked directly with airlines or on amextravel.com (5X points)
$
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Prepaid hotels booked on amextravel.com (5X points)
$
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All other purchases
$

Yearly points earned from spend breakdown:

5X Flights20,000 MR
5X Prepaid Hotels10,000 MR
1X All other purchases2,000 MR
Total points earned per year:32,000 MR

How do you plan on redeeming points?

American Express gives you many ways to redeem your points. Here are some common examples:

  • Points are denoted as CPP = "cents per point"

Given how you value points...

Value of points from intro offer:$0
Value of credits:$1,129
Value from category spend:$0
Value of perks and benefits:$200

Expected Value of Points

(Intro offer + credits + spend + benefits - annual fee)

$0

Calculation Methodology

The calculator's results are determined by several factors, including your ability to meet the minimum spending requirement to earn the welcome offer, spending habits in different categories, point redemption strategy, and how much relative value you place on other benefits.

The "Years" in the calculator refer to the cardmember year, which begins when you are approved for the card. The first year of membership is the first 12 months after approval, and the second year is the 12 months following that.

Card Benefits

The Platinum Card® from American Express is the go-to travel card for many people, given the protections and multipliers. It also acts as a card for airline lounge access and travel perks.

With the card, you get access to:

  • Centurion Lounges (within 3 hours of a departing flight)
  • Delta Sky Clubs (when flying Delta)
  • Priority Pass. Enrollment required.
  • Other partner lounges (Plaza Premium, Escape Lounge, etc.)
  • And many more

In terms of travel perks, a few key ones include:

  • Marriott Bonvoy Gold status. Enrollment required.
  • Hilton Gold status. Enrollment required.
  • Access to the Fine Hotels and Resorts travel portal

You also get many credits that help you offset the annual fee, making the effective cost more reasonable (or maybe even covering it entirely!)

$200 Hotel Credit

You get up to $200 back via statement credits each calendar year when you book prepaid Fine Hotels + Resorts (FHR) or The Hotel Collection bookings through Amex Travel using The Platinum Card® from American Express.

FHR only requires a one-night stay, while the Hotel Collection requires a minimum of 2 nights.

Some cities are prohibitively expensive, so I would look into destinations like Las Vegas.

$240 Digital Entertainment Credit

You get up to $20 back per month when you enroll and make eligible purchases on one or more of the following:

  • Disney+
  • The Disney Bundle
  • ESPN+
  • Hulu
  • Peacock
  • SiriusXM
  • The New York Times

Enrollment required.

$155 Walmart+ Credit

When you use The Platinum Card® from American Express to pay for a monthly Walmart+ membership, you’ll receive a statement credit that covers the cost of the entire membership each month. Enrollment required.

$200 Uber Cash

Get up to $15 each month when you ride and dine Uber or UberEats. Enrollment required.

$200 Airline Fee Credit

Get up to $200 in statement credits per calendar year for airline incidentals after selecting a qualifying airline. Enrollment required. These include:

  • Alaska Airlines
  • American Airlines
  • Delta Airlines
  • Frontier Airlines
  • Hawaiian Airlines
  • JetBlue Airways
  • Spirit Airlines
  • Southwest Airlines
  • United Airlines

$300 with Equinox

Get up to $25 as a monthly statement credit on Equinox+ (a digital fitness app with on-demand and live classes) or an eligible Equinox club membership. Enrollment required.

$100 Shop Saks with The Platinum Card® from American Express

Get up to $100 as statement credits for purchases at Saks Fifth Avenue or saks.com. You get up to $50 for purchases from: (i) January to June and (ii) July through December. Enrollment required.

$189 with CLEAR®

Get up to $189 in statement credits per year that you pay for CLEAR®. Enrollment required.

Redeeming Points

The Platinum Card® from American Express earns Membership Reward (MR) points which are great for aspirational travel – think first and business class – especially with Amex’s wide arrange of partners, including options like Etihad, Emirates, Singapore, and ANA.

If redeeming points as a statement credit – effectively cash back – you get 0.6 cents per point (CPP) with the card by itself. 5x MR * 0.6 CPP = 3% cash back.

Alternatives

If The Platinum Card® from American Express sounds good, but you don’t like the credits, then consider the Chase Sapphire Reserve®, which has multipliers for travel, lounge access via Priority Pass, and multipliers that are more well-rounded.

If you want a more straightforward option, the Capital One Venture X Rewards Credit Card earns 2x on everything and includes Priority Pass and access to Capital One Lounges and Plaza Premium Lounges.

card art for the Chase Sapphire Reserve®

Chase Sapphire Reserve®

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Travel℠.

The Chase Sapphire Reserve® is a strong premium card if you care about earning points or benefits when you travel. Despite the $550 annual fee, the $300 travel credit, Priority Pass membership, and travel insurances make the card worth considering.

Read the full review
card art for the Capital One Venture X Rewards Credit Card

Capital One Venture X Rewards Credit Card

Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening

The Capital One Venture X Rewards Credit Card is one of the best premium travel cards, given the travel perks and overall simplicity. The card does have a hefty annual fee, but the credits, anniversary miles, and perks easily outweigh this for most people.

Read the full review

Main Takeaway

The Platinum Card® from American Express is one of the best travel cards, especially if you can use the many credits. For many, this becomes a highly subsidized lounge access and travel perks card.

 

For rates and fees of The Platinum Card® from American Express, click here.

card art for the The Platinum Card® from American Express

The Platinum Card® from American Express

Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

Check if you're pre-approved for this card or special offers using the CardMatch Tool.

The Platinum Card® from American Express is one of the best travel cards, especially if you can use the many credits. For many, this becomes a highly subsidized lounge access and travel perks card.

Read the full review