American Express® Platinum Review

Overview

The Amex Platinum is a strong card, but really only for that first year, and only because the welcome bonus can be absolutely insane. Right now it is 175,000 points, which is a genuinely huge amount of value, and that bonus is the entire reason most people should even consider this card.

Everything after that first year is where I get skeptical. The fee is enormous, most of the so-called value is a coupon book you have to work to use, and outside of travel it barely earns anything. Get it for the bonus if you can hit the spend, but go in clear-eyed about the rest.

Our 4.0 out of 5 rating

Each score weighs the rewards rate, value after the annual fee, welcome offer, points flexibility, and perks, with every point valued at a flat 1 cent. This is our editorial assessment to help you compare cards, not a guarantee of approval or of the value you will get.

Rewards: how it earns

Here is the thing people miss: this card barely earns anything outside of travel. Dining is 1x, groceries are 1x, gas is 1x, hotels are 1x, streaming is 1x. Basically everything is 1x except flights and travel, which earn 5x. So this is not an everyday card at all, it is exclusively a travel card. If you are not putting most of your spend through flights and travel, you are earning a flat 1 point per dollar, which is weak for a card at this price.

Every point and mile above is valued at a flat 1 cent, the same honest standard we use for every card. Run your own spending through the calculator to see what this card would actually return for you.

Pros and cons

The welcome bonus

This is the whole reason to get the card. The welcome bonus can be absolutely insane, right now it is 175,000 points, which is well over $1,500 in value. But the spend requirement is brutal: $12,000 in six months. If you cannot hit that through normal spending, I would not recommend this card whatsoever, because without the bonus there is very little here worth $895. Do not force $12,000 of spending just to chase it.

Is it worth the annual fee?

The $895 annual fee is the elephant in the room, and I do not think most people should pay it past year one. The lounge access gets hyped, but let me be real about it: Amex Centurion lounges usually only let you in about three hours before your flight, there is often a line, and the Priority Pass access is a cherry on top at best. If you are getting this card for the lounges, or to flex on people, I promise it is not that much of a flex, and it is definitely not worth almost $900 a year unless you are flying all the time. The credits are the same story, a coupon book. People love to add them all up, but it is fake value unless you actually spend on those exact things. The Lululemon credit is great if you shop at Lululemon and worthless if you do not. I have even heard Uber charges Platinum holders more when they use the card’s credit, and while I cannot confirm that, it fits the pattern of value here looking bigger on paper than it plays out in real life.

First-year value vs ongoing value

The welcome bonus makes year one the high point: roughly $2,448 in value once you count the bonus, this card’s rewards, and its credits, minus the $895 fee. After that, the honest figure is about $698 a year, so judge whether it earns its keep on the ongoing number, not the first-year headline.

*First-year value counts the welcome bonus, estimated rewards, and annual credits, minus the annual fee; ongoing value is a typical year after. Every point at a flat 1 cent, on average spending.

Benefits and protections

Beyond the rewards, the perks and protections worth knowing about include:

• $200 Uber Cash annually ($15/month + $20 in December)
• $200 airline fee credit annually
• $200 Fine Hotels + Resorts hotel credit
• $240 digital entertainment credit ($20/month, Disney+, Hulu, ESPN+, Peacock & more)
• $189 CLEAR Plus credit annually
• $100 Saks Fifth Avenue credit ($50 semi-annually)
• Global Entry or TSA PreCheck application fee credit
• Automatic Marriott Bonvoy Gold and Hilton Honors Gold status
• No foreign transaction fees
• Trip cancellation/interruption insurance and trip delay reimbursement
• Baggage insurance, purchase protection, extended warranty
• Cell phone protection

Lounge access

This card includes airport lounge access. Here is exactly what you get, including the Priority Pass distinctions that vary by card:

• The Centurion Lounge and Sidecar by The Centurion Lounge
• Priority Pass Select membership, airport lounges only (U.S. Amex cards no longer include Priority Pass restaurants)
• Delta Sky Club when flying Delta same-day: 10 visits per year, unlimited after $75,000 in annual spend; no free guests ($50 per guest)
• Escape, Plaza Premium, Airspace and other Global Lounge Collection lounges, plus Lufthansa lounges through Sept 30, 2026 (1,550+ lounges across 500+ airports)

Statement credits

• $200 Uber Cash annually
• $200 airline fee credit annually
• $200 Fine Hotels + Resorts credit
• $240 digital entertainment credit ($20/month)
• $189 CLEAR Plus credit
• $100 Saks Fifth Avenue credit ($50 semi-annually)
• Global Entry or TSA PreCheck fee credit (~$100)

Ecosystem and transfer partners

The American Express® Platinum earns Membership Rewards, one of the more valuable currencies in rewards because of where the points can go. You can move points 1 to 1 to 10 airline and hotel partners: Delta SkyMiles, British Airways, Air France/KLM, Singapore Airlines, ANA, Avianca LifeMiles, Emirates Skywards, Marriott Bonvoy, Hilton Honors, and The Leading Hotels of the World. As a hub card, this is the one you route points through before transferring out. The sweet spots are usually premium-cabin flights and high-end hotel nights, where a single point can be worth well more than the 1 cent we value it at here.

Airline partners: Delta SkyMiles, British Airways, Air France/KLM, Singapore Airlines, ANA, Avianca LifeMiles, Emirates Skywards, The Leading Hotels of the World.

Hotel partners: Marriott Bonvoy, Hilton Honors.

See the full American Express ecosystem →

Who should get it, and who should skip it

Get the Platinum if, and only if, you can comfortably hit the $12,000 spend and you want that enormous welcome bonus. For that first year the bonus alone can make it worth it. Beyond the bonus, it really only makes sense for people who truly fly a lot and will actually use the travel perks and lounges.

For everyone else, I would pass, or cancel after year one. If you are eyeing it for the lounges or the status, it is not the flex people think it is, and $895 a year for a card that earns 1x on almost everything is a hard sell. Take the bonus, use it, and move on.

How it compares

If the American Express® Platinum is not quite the right fit, these related cards are worth weighing against it:

Frequently asked questions

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