Why It Makes Sense To Apply for an Amex Platinum Card by the End of 2024

The Platinum Card^® from American Express holds a certain level of prestige as one of the most recognizable rewards cards. You’ve come to the right place if you’re looking for premium travel perks, such as airport lounge access and an incredibly generous welcome bonus offer.

Snagging the Amex Platinum card is clutch for frequent travelers around this time of year. With just a few months left in 2024, here are some of the most compelling reasons to consider applying for the card right now.

BEST LOUNGE ACCESS

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The Platinum Card^® from American Express

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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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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 Bonus Valuation*:

$1,760

Annual Fee

$695

APR

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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 (670-850)

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, 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.
• The American Express Global Lounge Collection^® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
• $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 get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card^® to your Uber account to get started. Available to Basic Card Member only. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• $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.¤
• Terms Apply.

Financial Snapshot

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

Rewards Center

American Express Membership Rewards

Earn Double the Statement Credits

Some like to say that the Amex Platinum card is really just a shiny metal coupon book. After all, the card comes with a laundry list of statement credits.

All jokes aside, many of these perks are well worth it for the frequent traveler. Even though the $695 annual fee (rates & fees) seems daunting, strategically applying around the end of the year allows you to earn double the number of statement credits that are usually afforded to you.

That’s because several of its statement credits are offered on a calendar-year basis. As such, you can use the annual credits for the time left in 2024, and the credits will reset for the 2025 calendar year. Some credits could help you with gift-giving purposes as we quickly roll into the holiday season. Just keep in mind that some credits might require enrollment. Let’s take a closer look:

• Airline Incidental Fee Credit: Up to $200 annually
• Prepaid Hotel Credit: Up to $200 annually
• Saks Fifth Avenue Credit: Up to $100 annually — $50 can be used from January to June, and $50 can be used from July to December
• Uber Cash Credit: Up to $200 annually — $15 can be used every month, increased to $35 in December
• Walmart+ credit: Up to $12.95 monthly

Let’s say you were to get the card now toward the end of the calendar year. Even though the $695 annual fee will be charged to your statement by the end of the first billing cycle, that means you have access to the above Amex Platinum card benefits immediately.

1. Airline Incidental Fee Credit

The airline incidental fee credit offers up to $200 in annual reimbursements for fees incurred on an airline of your choice. Designate your airline on your Amex account, and charges such as seat selection fees, lounge passes, or checked bag fees are all eligible for reimbursement.

For instance, let’s say you choose Delta Air Lines as your airline. The up-to-$200 airline incidental fee can be used for annual membership for lounges, inflight amenity fees, and more.

2. Prepaid Hotel Credit

The up to $200 prepaid hotel credit requires a minimum 2-night stay and must be booked with your card on AmexTravel.com with Amex Fine Hotels + Resorts or The Hotel Collection properties.

Personally, I love to book high-end properties through the Amex FHR platform, even if it’s just for 1 night. You’ll get incredible benefits such as complimentary room upgrades (upon availability), breakfast for 2, an on-property credit valued at $100, early check-in, and late check-out.

I recently booked the Westin Anaheim for 1-night through the Amex FHR program. The room rate was only $250, so my out-of-pocket cost was $50. Considering that I got a 12 p.m. early check-in, a complimentary breakfast valued at nearly $100, and a “free” dinner with the $100 on-property credit, I was impressed with how easy it was to maximize this credit.

3. Saks Fifth Avenue Credit

Unless you live near a Saks Fifth Avenue store, you probably won’t get too much use out of this credit. After all, there isn’t much that you can buy with a semi-annual credit of up to $50.

However, I like to maximize my Saks credit by purchasing 1 makeup item, which usually costs about $40. After shipping and taxes, I’m able to use the up to $50 credit to my advantage — every single time.

By getting the Amex Platinum card around this time of year, you can access up to $50 credit for July through December. You can easily use this credit to buy a small holiday gift (or treat yourself!), especially if browsing the makeup and beauty counter.

4. Uber Cash Credit

You’ll receive your monthly Uber Cash credit directly in your Uber account in the form of Uber Cash upon linking your Amex Platinum card to your Uber account as a payment method.

Each month, you’ll receive $15 in Uber Cash for Uber Eats orders or Uber rides exclusively within the U.S. (plus a $20 bonus in December). However, it’s essential to know that credits don’t roll over month to month. With several months left in the year, you can potentially receive up to $85 in Uber Cash credit with the added bonus in December.

5. Walmart+ Credit

Walmart and the Amex Platinum card may not seem to belong in the same sentence, but the card offers a complimentary Walmart+ membership. Use the Amex Platinum card to pay for the subscription and receive up to $12.95, plus applicable taxes.

The Walmart+ membership can be useful for the holiday season, especially if you want to gift electronics this year. Other benefits include:

• Free delivery from your local Walmart
• Free shipping for online products with no order minimum
• Save up to 10 cents per gallon at Exxon, Mobil, Walmart, and Murphy stations. (Pro tip: You can access Sam’s Club gas stations with a Walmart+ subscription, even if you’re not a Sam’s Club member!)
• Free Paramount+ membership
• Other quirky benefits, such as a free Burger King Whopper every 3 months

You shouldn’t overlook the Walmart+ membership since you can get free shipping for the holidays. There are also a lot of everyday benefits that you can utilize when you’re not traveling.

Score a Targeted Welcome Bonus Offer

We only touched on a few statement credits with the Amex Platinum card, though there are many more meaningful benefits. This includes airport lounge access (upon enrollment), 5x points on flights booked directly with airlines or with AmexTravel.com (up to $500,000 per calendar year) and prepaid hotels through AmexTravel.com, and the TSA PreCheck or Global Entry credit.

Even better, eligible applicants may be able to score an elevated welcome bonus offer beyond what’s publicly available: Earn 80,000 points after spending $8,000 on purchases in the first 6 months.

Our staffers have found even higher welcome bonus offers after meeting minimum spending requirements. (These targeted offers are independently researched and may not be available to all applicants.)

• How To Find the Elevated 125K Amex Platinum Card Welcome Bonus Offer
• Snag the Amex Platinum Card 150K Welcome Bonus Offer
• Earn 175K Points With New Amex Platinum Card Bonus

Final Thoughts

They say timing is everything — and that’s definitely the case for the Amex Platinum card. You’ll want to check to see if you’re eligible for a targeted offer, and if you take the plunge, you can score double the statement credits during the first year of card membership.