The Amex Platinum Card – Full Review [2021]

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.

• 5x points per $1 spent on flights purchased directly with the airline or with American Express Travel
• 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 $30 monthly PayPal statement credit through June 30, 2021
• The Amex Platinum has the best airport lounge access out of any card — enjoy 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
• TSA PreCheck/Global Entry 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

• High annual fee
• Airline credit does not cover airfare (only incidentals like checked bags)

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 American Express 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/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 Amex Platinum 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.

• You travel often enough to take advantage of all the travel perks
• You’re able to use the annual credits (Airline, Saks Fifth Avenue) and monthly credits (PayPal)
• You want airport lounge access
• You want hotel elite status
• You want a luxury card with luxury benefits

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

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.

So the best way to maximize your points earning with the Amex Platinum is to use this card 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, 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.

Hot Tip: If you’re looking for even more ways to earn more Membership Rewards points for your next redemption, check out our comprehensive guide on the Best Ways to Earn Membership Rewards Points.

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. But 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. 

Chase Sapphire Reserve®

Credit Card

Key Benefits & Info

Chase Sapphire Reserve® Apply Now (at Chase's secure site)

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Bonus Valuation*: $1,200 $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. From 12/31/21, gas station & grocery store purchases will also count towards earning your Travel Credit 3X points on travel immediately after earning your $300 travel credit. 3X points on dining at restaurants including eligible delivery services, takeout and dining out & 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, 60,000 points are worth $900 toward travel 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 or TSA Pre✓® Excellent Credit Recommended (740-850) Annual Fee: $550 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 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 Sapphire Reserve® 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 4th-night-free hotel benefit that can be used twice per year.

Again, the Prestige® Card does not feature nearly as many luxury benefits or hotel elite status like the Amex Platinum card, but the 5x earning and 4th-night-free benefit make it worthy of considering.

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

• Amex Platinum vs The Chase Sapphire Reserve®
• Amex Platinum vs The Amex Gold Card
• Amex Platinum vs. Centurion Card
• Amex Platinum vs The Amex Business Platinum Card

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