FoundersCard vs. Amex Platinum Card [Detailed Comparison]

Key Takeaways

• FoundersCard isn’t a credit card but a membership card that offers luxury travel perks and discounts.
• The Platinum Card^® from American Express is among the best travel cards, offering rewards, travel credits, and extensive benefits.
• The better card depends on your preferences. The FoundersCard offers discounts and airline status, while the Amex Platinum card emphasizes rewards earning, travel and shopping protections, and numerous travel and shopping credits.

When it comes to premium perks, travel benefits, and lifestyle upgrades, you’d be mistaken for overlooking the Amex Platinum card. This travel card is renowned for its luxury benefits and valuable rewards. What if you’d like to access travel benefits without a travel card?

Enter the FoundersCard, a membership program — not a credit card — with elite travel perks.

The FoundersCard brings airline, hotel, and rental car status and extensive discounts to the table but lacks the legendary rewards earning, protections, and top-notch travel benefits offered to Amex Platinum cardholders. Still, it’s worth considering which card can offer the most value. For frequent travelers, the right choice might be both.

Let’s compare these cards’ differences, benefits, and costs to help you decide which best suits your lifestyle. Both cards offer valuable benefits that add value and savings for frequent travelers.

Overview

Before we explore the details of the FoundersCard and Amex Platinum card, let’s compare what each card offers.

Bottom Line:

The FoundersCard doesn’t earn rewards but offers solid travel discounts and benefits, while the Amex Platinum card offers the whole package with rewards, benefits, and travel credits.

Value of a Welcome Bonus Offer

Most rewards-earning credit cards offer an initial welcome bonus offer. You can qualify for the welcome offer immediately after card approval but must meet a minimum spending threshold to earn it.

The FoundersCard isn’t a credit card and doesn’t earn rewards or a welcome offer. However, the Amex Platinum card’s current public welcome bonus offer is:

• Earn 80,000 points after you spend $8,000 on eligible purchase in your first 6 months.

We value Amex Membership Rewards points at 2.2 cents per point, which makes the welcome offer worth up to $1,760.

With a welcome offer, the Amex Platinum card offers immediate value that can offset major travel costs, such as booking premium flights or hotels.

BEST LOUNGE ACCESS

Terms Apply / Rates & Fees

The Platinum Card^® from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

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Know if you're approved with no credit score impact

If you're approved and accept this Card, your credit score may be impacted.

The Platinum Card^® from American Express

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

Welcome Offer

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

80,000 points

UP's Offer Valuation*:

Up to $1,760

Annual Fee

$695

APR

See Pay Over Time APR

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent

Why We Like This Card

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card^® from American Express.

Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

Pros & Cons

Pros

• The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges (enrollment required), Plaza Premium Lounges, and many more!
• 5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• 5x points per dollar spent on prepaid hotels booked with AmexTravel.com

Cons

• $695 annual fee (rates and fees)
• Airline credit does not cover airfare (only incidentals like checked bags)

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Card Highlights

• 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.
• Earn 5X Membership Rewards^® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards^® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts^® or The Hotel Collection bookings through American Express Travel using your Platinum Card^®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card^® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• With American Express Global Lounge Collection^® you can enjoy access to over 1,400 airport lounges globally, including The Centurion^® Lounge, Unlimited Delta Sky Club^® Access when flying an eligible Delta flight, Escape Lounges, Lufthansa Lounges when flying Lufthansa Group, Plaza Premium, Priority Pass™ Select Lounges, & Additional Global Lounge Collection Partner Lounges subject to visit limitations. Lounges may have their own rules, like additional access rules and guest fees, and for Priority Pass Select, you need to enroll and there are unlimited airport lounge visits for Card Members. With Delta Sky Club Access, Card Members will receive 10 Visits to the Delta Sky Club to be used from February 1 until January 31 of the next calendar year and can unlock Unlimited Delta Sky Club Access by spending $75,000 in eligible purchases on their Card in a calendar year. To find a lounge, visit the membership section in the American Express^® App or visit http://www.americanexpress.com/findalounge#/loungefinder.
• $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card^® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card^®.
• $200 Uber Cash: Platinum Card^® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.
• $199 CLEAR^® Plus Credit: CLEAR^® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck^® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card^®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card^®. That's up to $50 in statement credits semi-annually. Enrollment required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card^® to your Resy profile.
• $695 annual fee.
• Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

Rewards Center

American Express Membership Rewards

Bottom Line:

With the Amex Platinum card, you can get up to up to $1,760 in value from the welcome offer, which is more than enough to offset the card’s $695 annual fee (rates & fees). The card’s additional rewards and benefits are icing on the cake. With the FoundersCard, you have to use your benefits to get value from the card.

Earning Potential

While the FoundersCard doesn’t earn rewards, the Amex Platinum card does. You can earn the most when you use the Amex Platinum card to pay for qualifying travel purchases.

Here’s how you can earn Membership Rewards points on the Amex Platinum card:

• 5x points on flights booked directly with airlines or through AmexTravel.com (on up to $500,000 on these purchases per calendar year, then 1x)
• 5x points on prepaid hotels booked on AmexTravel.com
• 1x points on all other purchases

Bottom Line:

The Amex Platinum card earns rewards for every purchase, with elevated earnings on qualifying travel purchases. The FoundersCard doesn’t earn rewards.

Redemption Options

Between the FoundersCard and Amex Platinum card, only the Amex Platinum card earns redeemable rewards. You have numerous options for redeeming Membership Rewards points earned on the Amex Platinum card.

You get the best potential value when you transfer points to Amex airline or hotel partners.

For example, you could transfer Membership Rewards points to Singapore KrisFlyer and book Singapore Suites on an A380 for 148,500 miles one-way. Or, you could fly to Europe in style on Lufthansa first class by transferring 87,000 points to Avianca LifeMiles.

Other redemption options for the Amex Platinum card include select travel on AmexTravel.com, paying for purchases at checkout on PayPal or Amazon, person-to-person transfers (for a fee) on PayPal, statement credits, gift cards, or charitable donations.

Bottom Line:

The FoundersCard doesn’t earn redeemable rewards, but you can get huge value and flexible redemption options from Membership Rewards points earned with the Amex Platinum card.

Travel and Shopping Protection Benefits

The FoundersCard offers numerous benefits, but those don’t include shopping or travel protections.

On the other hand, the Amex Platinum card is one of the best cards for travel insurance. It also offers purchase protection, extended warranty coverage, return protection, and cell phone protection. You can use your Amex Platinum card confidently, knowing you have a safety net if anything goes wrong with your purchase — whether that’s a delayed flight or a stolen laptop.

These are the travel insurance benefits you can get from the Amex Platinum card:

• Trip Cancellation and Trip Interruption Insurance: If your trip is canceled or disrupted for a covered reason, you can receive reimbursement of up to $10,000 per covered trip, up to a maximum of $20,000 within 12 months.
• Trip Delay Coverage: If a trip you’ve paid for with your card is delayed for 6 hours or more, you can receive up to $500 per trip for necessary incidentals. There’s a limit of 2 claims per 12-month period.
• Car Rental Loss and Damage Insurance: Decline rental car coverage at the counter and use your Amex Platinum card to receive secondary car rental insurance. You’ll have to file a claim with your own insurance first but could purchase Amex Premium Car Rental Protection primary insurance for $12.99 to $24.99 to cover the entire rental car period, up to 42 consecutive days.
• Baggage Insurance Coverage: Pay for your flight with your Amex Platinum card to get protection if your bags are lost, damaged, or stolen. Benefits are up to $2,000 for checked baggage and $3,000 for carry-on baggage, with a maximum combined total of $3,000 per person and $10,000 per trip.
• Premium Global Assist Hotline: If you’re more than 100 miles from home, you can use the hotline to get emergency assistance, including emergency medical evacuation for the cardholder and qualifying family members, with no specified dollar limit.

These exceptionally valuable benefits can potentially save you thousands and save the day — or your entire trip — if plans go awry while you’re traveling. You can get reimbursed for canceled, interrupted, or delayed trips, decline paying for rental car coverage, get reimbursed for lost, damaged, or stolen bags, and count on the Global Assist Hotline to help out in emergencies. It’s tough to put a price on emergency medical evacuation with no specified dollar limit.

The Amex Platinum card also offers extensive shopping protection benefits, which include:

• Purchase Protection: Pay with your Amex Platinum card and your purchase is protected for up to 90 days. You get up to $10,000 per covered purchase, up to $50,000 per calendar year, if your new purchase is stolen, accidentally damaged, or lost.
• Extended Warranty Coverage: Charge a covered purchase to your card to add up to 1 extra year to an original manufacturer’s warranty of 5 years or less. You’re covered for up to $10,000 per purchase and $50,000 per calendar year.
• Return Protection: If a seller won’t take back a purchase made with your card within the first 90 days, American Express can refund the full purchase price, excluding shopping and handling, up to $300 per item. This benefit is limited to $1,000 per calendar year.
• Cell Phone Protection: Use your card to pay your monthly cell phone bill and get reimbursed for repairing or replacing your damaged or stolen cell phone, with coverage up to $800, up to 2 claims per year. Each claim is subject to a $50 deductible.

Shopping Credits and Benefits

In addition to shopping protections, Amex Platinum cardholders get shopping credits upon enrollment:

• Up to $100 Saks Fifth Avenue Credit: Cardholders receive a $50 credit from January to June and $50 from July to December.
• Up to $155 Walmart+ Membership Credit: Pay your monthly Walmart+ membership fee with your card to get a $12.95 monthly credit.
• Up to $240 Digital Entertainment Credit: Use your card to pay for eligible subscriptions to Disney+, the Disney Bundle, ESPN+, Hulu, the New York Times, Peacock, and the Wall Street Journal and get up to $20 back each month.
• Up to $300 Equinox Membership Credit: Pay for your Equinox fitness membership with your card for up to $300 back annually.
• Up to $300 SoulCycle Bike Credit: Get up to $300 in statement credits when you purchase a SoulCycle at-home bike at full price.

Rather than statement credits, FoundersCard membership offers extensive discounts. These are the shopping discounts you can get with a FoundersCard:

• $150 off the first month of any plan for new signups at Zirtual and an ongoing 10% discount
• $500,000 in revenue for free on the Chargebee launch plan at Chargebee
• 1 year complimentary of Phone.com‘s basic users plan
• 15% discount at Sonos and Bang & Olufsen
• 15% off the monthly service charge of qualified personal wireless plans or up to $10 off per line, each month, for the Unlimited Elite plan at AT&T
• 20% off Image & Footage subscription plans at Shutterstock
• 20% off the monthly membership at obé fitness
• 20% off Shopify plans
• 20,000 no-additional-fee dollars with Stripe
• 30% discount at Adidas and Reebok
• 30% off plan upgrades for the first 12 months at Slack
• 40% off Dell everyday products
• 40% off Dropbox Business or Plus annual subscription
• Up to 40% off select Think and Lenovo products
• Up to 47% off UPS shipping
• 50% discount on a 2x weekly Oasis membership from Industrious
• 50% off the first annual subscription of Salesforce Essentials
• Up to 55% off at Office Depot
• 6 months free of Zendesk Support and Sales CRM
• Waived membership fees for Fiverr’s Business Platform membership for 2 years

Bottom Line:

FoundersCard members don’t get protection or travel and shopping credits. However, various discounts are available. The protection benefits for Amex Platinum cardholders are extensive, and you can get more than $1,000 in shopping credit value.

Travel Credits and Benefits

The FoundersCard is vastly inferior to the Amex Platinum card in terms of earning rewards, shopping and travel protections, and credits for cardholders. There’s no comparison. But the competition begins with travel benefits.

The FoundersCard has travel benefits that rival the best travel cards, including the Amex Platinum card. Both offer instant status with hotel and rental car brands, and the FoundersCard offers airline status. The Amex Platinum card is one of the best cards for airport lounge access, with more than 1,400 lounges in the American Express Global Lounge Collection.

Here’s a comparison of the various travel perks and benefits of both cards:

The FoundersCard and Amex Platinum card are competitive among travel benefits. Let’s see how the travel credits and discounts stack up.

FoundersCard doesn’t offer travel credits, but it does offer numerous discounts. These include the rental car discounts detailed above and airline and travel service discounts, including:

• British Airways: Up to 10%
• Cathay Pacific: Up to 15%
• Qantas Airways: Up to 25%
• Singapore Airlines: Up to 15%
• United Airlines: Up to 8%
• Complimentary TripIt Pro Membership for 1 year
• Up to 15% of Carey car service
• 30% to 45% discount on Medjet Memberships
• Wheels Up Connect Membership for $1,995

These discounts are perhaps the most valuable feature of the FoundersCard because you can use them as much as you’d like. If you’re a frequent flyer of British Airways, Cathay Pacific, Qantas, Singapore, or United, you can save significantly with a FoundersCard membership discount applied to every purchase.

Amex Platinum cardholders will receive the following travel credits upon enrollment:

• Up to $200 annual airline incidental credit for expenses such as seat selection fees and baggage
• Up to $200 annual Uber Cash ($15 per month, plus an additional $20 in December)
• Up to $200 annual prepaid hotel credit for prepaid Fine Hotels + Resorts or Hotel Collection bookings, which require a minimum 2-night stay, through AmexTravel.com
• Up to $199 annual CLEAR Plus credit
• Up to $120 Global Entry credit every 4 years or up to $85 TSA PreCheck credit every 4.5 years

If you use the full value of your travel credits each year, that’s $799 — more than enough to offset the Amex Platinum card’s $695 annual fee (rates & fees). Plus, you’d get up to $120 in additional value on the years you applied for TSA PreCheck or Global Entry with your card.

Bottom Line:

These cards compete directly in travel benefits and savings. Which card offers the most savings depends on your travel spending. For example, if lounge access and travel credits are a priority, the Amex Platinum card is superior. If you value fast-track airline status and would rather get open-ended discounts with select airlines than a travel credit with a hard limit, the FoundersCard is a better choice.

Annual Fees and Authorized Users

The FoundersCard and Amex Platinum card are similarly priced.

With the FoundersCard, you pay $595 for an annual membership with a $95 initiation fee. You can add a lifetime significant-other membership for a one-time $495 fee, which covers your companion’s membership as long as you have one. The companion card offers the same benefits as the primary membership.

The Amex Platinum card has a $695 annual fee. You can add an authorized user for another $195 per year (rates & fees), which includes perks such as lounge access, hotel and rental car status, and reimbursement for TSA PreCheck or Global Entry. You can also add up to 99 American Express^® Gold Cards for no additional fee (rates & fees).

Final Thoughts

Whether the FoundersCard or the Amex Platinum card is better depends on your financial priorities and travel lifestyle. FoundersCard is excellent if you don’t want a credit card or would prefer a no-annual-fee card that you can supplement with travel benefits from the membership card. The Amex Platinum card is a trusted travel companion that’s hard to beat with extensive rewards, travel credits, protections, and benefits.

There’s not much the FoundersCard offers that the Amex Platinum card doesn’t. Since you’re facing a hefty annual fee with either card, the Amex Platinum card is likely a more well-rounded choice that gives you more opportunities to offset the value of the annual cost of membership. But if you can get value from either card and want to fill benefit gaps, you might choose both.

For the trip cancellation and interruption insurance benefit of The Platinum Card^® from American Express, 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.

For the extended warranty benefit of The Platinum Card^® from American Express, 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.

For the return protection benefit of The Platinum Card^® from American Express, 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.

For the cell phone protection benefit of The Platinum Card^® from American Express, 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.

For the trip delay insurance benefit of The Platinum Card^® from American Express, 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.

For the car rental loss and damage insurance benefit of The Platinum Card^® from American Express, 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.

For the baggage insurance plan benefit of The Platinum Card^® from American Express, 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.

For the premium global assist hotline benefit of The Platinum Card^® from American Express, you can rely on Global Assist Hotline 24 hours a day / 7 days a week for medical, legal, financial or other select emergency coordination and assistance services while traveling more than 100 miles away from your home. Plus, we may provide emergency medical transportation assistance and related services. Third-party service costs may be your responsibility. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. If approved and coordinated by premium global assist hotline, emergency medical transportation assistance may be provided at no cost. In any other circumstance, Card Members may be responsible for the costs charged by third-party service providers.

For the purchase protection benefit of The Platinum Card^® from American Express, 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 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.