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The Amex Platinum Card – Full Review [2022]

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"Luxury travel benefits and 5x points!"

This card is undoubtedly the #1 card for luxury travel benefits. From lounge access to fee credits to complimentary elite status, you can’t go wrong.

Learn More (at Amex's secure site)

Jarrod West

- UPDATED: January 25, 2022 |

Is the Amex Platinum Worth the Yearly Fee?

The Platinum Card® from American Express is one of the most recognizable credit cards out there. You’ll often find the card associated with symbols of prestige, status, and luxury.

Make no mistake: the Amex Platinum is a premium card with a premium price tag. Some might consider it to be overhyped and overpriced — but when used effectively (and considering the benefits and perks received with the Amex Platinum card) it can prove to be one of the most lucrative cards in your wallet.

Pros

5x points per $1 spent on flights purchased directly with the airline or with American Express Travel (up to $500,000 per year)
5x points per $1 spent on prepaid hotels booked with American Express Travel
Up to $200 airline fee credit
Up to $100 annual Saks Fifth Avenue credit
Up to $240 annual streaming credit
$200 annual hotel credit
$155 annual Walmart+ credit
$300 SoulCycle bike credit
The best airport lounge access out of any card — enjoy access to Amex Centurion lounges, Priority Pass lounges, Plaza Premium Lounges, Airspace Lounges, Escape – The Centurion® Studio Partner Lounges, and Delta Sky Clubs when flying Delta the same day
TSA PreCheck/Global Entry credit
$179 annual CLEAR credit
Complimentary Hilton Honors Gold and Marriott Bonvoy Gold Elite status
Access to American Express Fine Hotels and Resorts
Access to Amex International Airline Program
No foreign transaction fees
Cell phone protection

Cons

$695 Annual Fee (see rates and fees)
Airline credit does not cover airfare (only incidentals like checked bags)

Amex Platinum Card — Snapshot

Welcome Bonus & Info (Partner Content)
- Earn 100,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
- 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 $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.
- $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.
- $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
- American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. There are even more places your Platinum Card® can get you complimentary entry and exclusive perks.
- $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline.
- $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
- $300 Equinox Credit: Get up to $25 back each month on eligible Equinox memberships when you pay with your Platinum Card®. Enrollment required.
- $179 CLEAR® Credit: Use your Card and get up to $179 back per year on your CLEAR® membership.
- $695 annual fee.
- Terms Apply.
Card Categories:
Rewards Center
American Express Membership Rewards
Customer Service Number
800-528-4800 (Available 24/7)
Login Link
https://www.americanexpress.com/
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Great Card If

You travel often enough to take advantage of all the travel perks
You’re able to use the annual credits (airline, Saks Fifth Avenue, prepaid hotels) and monthly credits (Uber, Equinox, digital entertainment)
You want airport lounge access
You want hotel elite status
You want a luxury card with luxury benefits

Don't Get If

You don’t travel often
You aren’t interested in the perks and annual credits
You prefer a card with more bonus categories

Amex Platinum Card — Fees

Annual Fee
- $695
Foreign Transaction Fees
None
Interest Rates
- Pay Over Time Feature: 15.99% to 22.99% Variable
Late fees
- Up to $40
- Penalty APR: 29.99% Variable
Cash Advance APR
- 25.24% variable
Additional Info
Rates & Fees

The Ideal Cardholder for the Amex Platinum

Couple Eating Breakfast Poolside — Make luxury travel possible with points earned from your Platinum Card. Image Credit: fokke baarssen via Shutterstock

The Amex Platinum card is tailored toward frequent travelers who want luxury perks and can regularly take advantage of the card’s premium benefits.

For example, this card is the best of its class when it comes to lounge access — cardholders get access to Amex Centurion lounges, Priority Pass lounges, Plaza Premium Lounges, Airspace Lounges, Escape Lounges, and Delta Sky Clubs when flying Delta the same day.

When you combine this lounge access with 5x earnings on airfare and prepaid hotels booked with Amex Travel, Gold status with Marriott and Hilton, access to Amex’s Fine Hotel & Resorts program, and credits for airlines and Global Entry, and you’ve got a package that makes for one of the best travel cards in the industry.

Virtually every benefit offered with the card is tailored toward enhancing your travel experiences, and it shows.

Are You a Business Owner?See our in-depth review of The Business Platinum Card® from American Express and our article that digs into the best benefits of the Amex Business Platinum.

How To Earn More Amex Points

Woman Working in Airport Lounge — If you’re a frequent traveler, why not have a card that makes travel even better with access to over 1,300 airport lounges? Image Credit: Olena Yakobchuk via Shutterstock

Airfare and Prepaid Hotel Purchases

With the Amex Platinum card, you will earn 5x Membership Reward points per $1 spent directly with airlines, as well as airfare and prepaid hotels booked with American Express Travel. The earning is capped at $500,000 in purchases per calendar year.

So the best way to maximize your points earning with the card is to use it for all of your airfare and prepaid hotel purchases. If you’re someone who travels often, this will allow you to earn a ton of points.

Amex Offers

By virtue of being an American Express cardholder, each month you’ll receive dozens of Amex Offers that you can attach to your Amex Platinum card, which helps you earn more Membership Reward points.

These offers can provide you with some excellent value by allowing you to earn additional points or cash-back for shopping with select merchants. Simply add your offers of choice from the bottom of your card’s home screen, and you’re ready to start earning.

Refer-a-Friend

American Express allows you to earn points for referring your friends to their credit cards. Just send your friend your unique link — if they are approved, you’ll receive a point bonus added to your account.

Hot Tip: You can receive a bonus even if your friend doesn’t apply for the card you hold. For example, if you have the Amex Platinum card and you refer a friend who decides to apply for the American Express® Gold Card, you’ll still receive the point bonus.

Adding More Membership Rewards Cards

If you’re a fan of the American Express Membership Rewards ecosystem, then adding more Membership Rewards cards to your wallet is a no-brainer.

Take the Amex Gold card for example, which earns 4x Membership Reward points per $1 spend at U.S. restaurants and at U.S. supermarkets. With this 2-card combo, you’ll be earning tons of points for all your airfare, dining, and supermarket purchases.

There are plenty of other personal and business American Express cards, too, with varying bonus categories.

How To Use Amex Points for Max Value

When it comes to using your Membership Rewards points, you have a few main redemption options that all vary in value and their usefulness.

Travel Partners

American Express Membership Rewards points are one of the most valuable point currencies out there because they can be transferred to one of Amex’s many airline transfer partners.

This is easily the best option to get the maximum value out of your hard-earned points, as you could use them to purchase business and first-class flights that would otherwise cost you thousands of dollars!

Hot Tip: It’s a common misconception that using transfer partners is way too complicated and takes too much time to master. It’s a lot easier than you might think — check out our guide to Amex transfer partners and how to use them.

Amex Travel

You’ll also have the option of using your points to offset airfare and hotel purchases you make through the Amex Travel portal (though you won’t get great value).

When using your points toward an airline ticket you’ll receive just 1 cent per point — and an abysmal 0.7 cents per point when redeeming toward a hotel stay.

Statement Credit

American Express will also give you the option to use your points to cover eligible charges you’ve made with your card. However, when doing so your points will only be valued at 0.6 cents each — which is terrible for points as valuable as Membership Rewards!

Gift Cards

American Express offers plenty of retailers where you can cash in your points and get a gift card in return. But in doing so, you’ll receive anywhere from 0.7 cents to 1 cent per point toward the gift card.

Again, this is not a method we advise, as you’ll be losing huge value in the form of travel rewards.

Shop With Points

Lastly, you can use your Membership Rewards points to offset the cost of your purchases with retailers like Apple, Best Buy, or Saks Fifth Avenue.

There are dozens of merchants to choose from, but we don’t recommend it as using this method will only earn you 1 cent or less per point in value.

Bottom Line: At Upgraded Points, we highly recommend using your points with American Express transfer partners — that is where the big value is found. Due to this, we do not advise anyone use their points for gift cards, statement credits, or any option that only earns 1 cent per point or less.

Amex Airline Transfer Partners

Amex Airline Transfer Partner	Min Transfer	Transfer Ratio (Amex > Partner)	Transfer Time
AeroMexico	1,000	1:1.6	2-12 days
Air Canada	1,000	1:1	Almost Instant
Alitalia	1,000	1:1	Almost Instant
Aer Lingus	1,000	1:1	Almost Instant
ANA	1,000	1:1	3 days
Avianca LifeMiles	1,000	1:1	Almost instant
British Airways	1,000	1:1	Almost Instant
Cathay Pacific	1,000	1:1	Up to 1 Week
Delta Air Lines	1,000	1:1	Almost Instant
Emirates	1,000	1:1	Almost Instant
Etihad Airways	1,000	1:1	Almost Instant
Flying Blue Air France/KLM	1,000	1:1	Almost Instant
Hawaiian	1,000	1:1	Almost Instant
Iberia	1,000	1:1	1-3 days
JetBlue	250	1:0.8	Almost Instant
Qantas	500	1:1	Almost Instant
Singapore Airlines	1,000	1:1	1-2 days
Virgin Atlantic	1,000	1:1	1-2 days

Amex Hotel Transfer Partners

Amex Hotel Transfer Partner	Min Transfer	Transfer Ratio (Amex > Partner)	Transfer Time
Choice Privileges	1,000	1:1	Almost Instant
Hilton Honors	1,000	1:2	Almost Instant
Marriott Bonvoy	1,000	1:1	Almost Instant

Alternative Cards to the Amex Platinum Card

Chase Sapphire Reserve® Card

Credit Card	Benefits & Info
Chase Sapphire Reserve® Learn More (at Chase's secure site)	Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards® $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year Earn 5x total points on air travel and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards^®. For example, 50,000 points are worth $750 toward travel With Pay Yourself Back^SM, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories 1:1 point transfer to leading airline and hotel loyalty programs Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit for Global Entry, TSA PreCheck®, or Nexus Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more Excellent Credit Recommended (740-850) Annual Fee: $550 $1,000 Must Reads: For more on the Chase Sapphire Reserve, see our thoughts on its benefits, global airport lounge access, and travel insurance protection. Take a look here for our full review.

Credit Card

Benefits & Info

Chase Sapphire Reserve®

Learn More

(at Chase's secure site)

Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards®
$300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year
Earn 5x total points on air travel and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards^®. For example, 50,000 points are worth $750 toward travel
With Pay Yourself Back^SM, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
1:1 point transfer to leading airline and hotel loyalty programs
Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit for Global Entry, TSA PreCheck®, or Nexus
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
Excellent Credit Recommended (740-850)
Annual Fee: $550

$1,000

Must Reads: For more on the Chase Sapphire Reserve, see our thoughts on its benefits, global airport lounge access, and travel insurance protection. Take a look here for our full review.

The Chase Sapphire Reserve card offers 3x points per $1 spent on all travel and dining purchases, with the travel definition being extended to include airfare, hotels, Airbnb, even Uber/Lyft.

Combine that with a $300 travel credit and a Priority Pass membership, and it makes for a compelling option.

While the Chase Sapphire Reserve card doesn’t feature nearly the level of elite benefits that the Amex Platinum card does, this could be a good option for you if you’re after a more well-rounded travel card.

Citi Prestige® Card

The $495 Citi Prestige card earns 5x Citi ThankYou Points on airfare and dining purchases and comes with a $250 travel credit, a Priority Pass membership, and a fourth-night-free hotel benefit that can be used twice per year.

Again, the Citi Prestige card does not feature nearly as many luxury benefits or hotel elite status as the Amex Platinum card, but the 5x earnings and fourth-night-free benefit make it worthy of considering.

We’ve also compared the Amex Platinum card to a number of other popular cards:

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

Featured Image Credit: American Express

Frequently asked questions

Is the Amex Platinum card hard to get?

Most travel credit cards require applicants to have good credit in order to be approved. American Express does not publish a set benchmark score needed, but if you have a strong credit score then it’s likely your application will be approved. However, keep in mind that the annual fee will be due on your first billing statement — so if that isn’t something you can afford, you should consider another card.

Why get the Amex Platinum card? Is it worth it?

While the annual fee is quite high, when you factor in the number of benefits received from the card, the question of “is it worth it?” for many people is “yes.” The card comes with up to $200 airline incidental credit, up to $200 prepaid hotel credit at Amex’s Fine Hotels & Resorts and The Hotel Collection, up to $240 digital entertainment credit, up to $100 Saks Fifth Avenue credit, and up to $300 Equinox credit, which effectively cancel out much of the annual fee. Then add in the 5x earnings on flights and prepaid hotels booked with Amex Travel, Gold status with Hilton and Marriott hotels, and access to over 1,300 airport lounges worldwide. Given the number of luxury benefits you receive from having the card, if you can afford the annual fee, then yes, the card is definitely worth it.

Is the Amex Platinum a credit card or a charge card?

It’s a charge card, not a credit card. The 2 main differences between a charge card and a credit card are that charge cards have no preset spending limit and balances must be paid in full each month. Many people think charge cards have no credit limit, but this is not true. American Express does not give cardholders a set spending limit for their charge cards, but they will start declining purchases if they believe your balance is becoming higher than you can afford to pay each month. Similarly, with a charge card, your balance must be paid in full each month. This is not the case with most credit cards, as they allow you to make a minimum or partial payment and carry the rest of the balance over while being charged interest. However, if your charge card is not paid in full, you won’t be able to use your card for any other purchases until it is.

What is the Amex Platinum card annual fee? Can I add authorized users?

See the card summary table listed above for the annual fee. If you wish to add authorized users to the account, you can add up to 3 for an additional $175 per year. Each authorized user of the card will receive all of the same benefits as the main cardholder. You also have the option of adding up to 99 Amex Gold cards for no additional annual fee. Keep in mind that while these cards have the same earning rate as the Amex Platinum card, they receive none of the elite benefits.

What airport lounges do you get access to with the Amex Platinum card?

The card gets you access to all of the American Express Centurion Lounges, Delta Sky Clubs (when flying Delta the same day), Priority Pass lounges, Plaza Premium Lounges, Airspace Lounges, and Escape Lounges. This is by far the most extensive list of eligible lounges you can visit offered by any travel credit card on the market. Note: Priority Pass memberships from U.S.-issued American Express cards no longer include restaurants (“non-lounge airport experiences”).

Is the Amex Platinum card metal?

Yes, it’s a metal card.

About Jarrod West

Jarrod first became fascinated with the world of points and miles as the perfect way to visit dream destinations without breaking the bank. On his first major award trip, he spent 3 months traveling through Europe, financed nearly entirely with points; while flying in premium cabins and staying in 5-star hotels along the way. Now, he is on a mission to help others realize their travel goals and upgrade their travel experiences. Jarrod has been writing about credit cards and travel loyalty programs for 4 years, and his work has been featured by Travel and Leisure, The New York Times, Matador Network, Yahoo Finance, and U.S. News.

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2 comments

Noirin garrett November 30, 2020
Very upset and disappointed that Amex is corrupting the insurance policy by hopping on the back of covid. The insurance policy says rental car excess insurance is covered by Amex. Now Amex informs they will not cover this excess during Covid. Why are we paying such high membership with this corrupt insurance coverage change?
Sanjosemike June 18, 2021
I called up Amex recently (6/18/21) and they affirmed that they will be making their excess liability coverage available now.

Featured Cards

Is the Amex Platinum Worth the Yearly Fee?

Pros

Cons

Amex Platinum Card — Snapshot

Great Card If

Don't Get If

Amex Platinum Card — Fees

The Ideal Cardholder for the Amex Platinum

How To Earn More Amex Points

Airfare and Prepaid Hotel Purchases

Amex Offers

Refer-a-Friend

Adding More Membership Rewards Cards

How To Use Amex Points for Max Value

Travel Partners

Amex Travel

Statement Credit

Gift Cards

Shop With Points

Amex Airline Transfer Partners

Amex Hotel Transfer Partners

Alternative Cards to the Amex Platinum Card

Frequently asked questions

Is the Amex Platinum card hard to get?

Why get the Amex Platinum card? Is it worth it?

Is the Amex Platinum a credit card or a charge card?

What is the Amex Platinum card annual fee? Can I add authorized users?

What airport lounges do you get access to with the Amex Platinum card?

Is the Amex Platinum card metal?

About Jarrod West

Urgent Report:

How to Beat the Crowds & Lock In Affordable Travel While You Still Can...

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