Why I Pay $1,000+ a Year for the Amex Platinum and Gold Cards

To many people, the concept of paying almost $700 every year for a single credit card verges on excessive, but paying over $1,000 for 2 cards from the same issuer? Lunacy.

However, after several years of having both The Platinum Card^® from American Express and the American Express^® Gold Card in my wallet, I’ve learned each of these cards like the back of my hand, and have settled into a nice rhythm of using each in a way that complements the other.

I earn plenty of points on just about every purchase I make, and I leverage benefits that elevate my travel experience — from airport layovers to hotel stays.

Despite paying over $1,000 annually to keep both cards in my wallet, I’m happy to do so. Let’s dive in to see how I justify paying the annual fees on both high-end Amex cards.

Amex Platinum and Amex Gold Cards — Overview

Before we get into specifics regarding my strategy for each of these cards, let’s take a look at the highlights of each.

Amex Platinum Card

The Amex Platinum card is the original ultra-premium travel rewards card, and it offers a simple earning structure that rewards cardmembers handsomely for booking hotels and flights:

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

Where the card really shines, however, is the travel benefits. Here’s a look at some of the highlights (enrollment required for some):

• Up to $200 prepaid hotel credit: Book a prepaid Amex Fine Hotels + Resorts or Hotel Collection stay with your card to get $200 back in statement credits each year. (The Hotel Collection requires a minimum 2-night stay.)
• Up to $200 airline fee credit: Designate an airline to receive credit for up to $200 per calendar year on incidental expenses, such as baggage fees and seat selection
• Up to $200 Uber Cash credit: Add your card as the payment method in your Uber app and get up to $15 per month in credit and $35 in December, for U.S. Uber Eats orders and Uber rides
• Up to $199 Clear Plus membership: Pay for a Clear Plus membership with your card and get up to $199 back yearly (subject to auto-renewal).
• TSA PreCheck or Global Entry application fee credit: Every 4 years, get up to a $120 statement credit for a Global Entry application or up to $85 every 4.5 years for a TSA PreCheck application.
• Worldwide access to 1,400+ airport lounges, including Amex Centurion Lounges.
• Extensive travel protections including secondary car rental loss and damage insurance, baggage insurance plan, trip cancellation and interruption insurance, and trip delay insurance.

Amex Gold Card

While the Amex Gold card‘s earning structure is where it excels:

• Earn 4x points per dollar spent on restaurants worldwide (up to $50,000 per year, 1x thereafter)
• Earn 4x points per dollar spent at U.S. supermarkets (up to $25,000 per year, 1x thereafter)
• Earn 2x points per dollar spent on prepaid hotels and other eligible purchases booked through AmexTravel.com
• Earn 1x point per dollar spent on all other purchases

And while it doesn’t offer as many extra perks as the Amex Platinum card, it’s no slouch in this arena. Here are some of the highlights of its benefits, though many of these credits require enrollment:

• Up to $120 Uber Cash credit: Receive up to $10 in Uber Cash credit each month for U.S. Uber rides and Uber Eats orders. You’ll receive the monthly Uber Cash after adding your card as the payment method in your Uber account.
• Up to $100 Resy credit: Receive up to $50 each half of the year when you use your card to dine at U.S. Resy restaurants or make other eligible Resy purchases. You don’t need a Resy account to receive the credits.
• Up to $84 Dunkin’ credit: Receive up to $7 each month for purchases at U.S. Dunkin’ locations using your card.
• Up to $120 Dining credit: Receive up to $10 per month in statement credits on eligible purchases at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys
• Secondary car rental insurance, purchase protection, and extended warranty

Earn 5x on Flights, 4x at U.S. Supermarkets and Restaurants

I leverage each card’s unique earning structure to ensure I earn a steady stream of American Express Membership Rewards points on almost every purchase I make.

I don’t use my Amex Platinum card for everyday spending since it only earns 1 point per dollar spent on most purchases, but when I need to book flights, that’s the card I pull out of my wallet. Earning 5x points per dollar spent on purchases booked directly from the airline is industry-leading, providing a great return on flight spending.

When it comes to the rest of my mix of spending, the majority of it comes from U.S. supermarkets, restaurants, and bars. This is precisely why the Amex Gold card works so well as an everyday spending card for me, earning 4x points on these purchases.

Amex Membership Rewards points are my preferred currency for booking flights, so maximizing my earnings on a majority of the purchases I make in a month ensures I continually add to my balance that I can use for future flight redemptions.

Some Credits Stack Effortlessly Together

There’s some overlap in terms of the statement credits and perks offered on both of these cards. Even though there’s a “coupon book” aspect to using them, I find it easy enough to do so on a monthly basis, even if I’m rotating between cards.

For example, the Amex Platinum card offers up to $200 in Uber credits annually, distributed as monthly $15 credits (with $35 for December), while the Amex Gold card offers up to $120 in Uber credits annually, distributed as monthly $10 credits.

Thankfully, each credit can be used entirely in 1 transaction, so I’ll keep my Amex Platinum card selected as my payment method for my first ride (or Uber Eats order) or 2 of each month until the $15 credit is used in its entirety, and then toggle to the Amex Gold card to use the $10 credit, giving me a total of $25 every month to use on my Uber rides.

Amex Platinum Card Shines With Travel Benefits

When I redeem my Membership Rewards points (or just pay cash and earn 5x points per dollar spent) for a flight, the Amex Platinum card is arguably best tool to have to enhance the journey.

I fly often with Delta, and the Amex Platinum card gives you 10 annual visits to the Delta Sky Clubs with a same-day Delta boarding pass. Going to the lounge allows me to escape the terminal, grab a light meal and maybe even a beverage, and relax in relative peace before getting on a flight.

The Amex Platinum card also pays for my CLEAR Plus membership and my TSA PreCheck status (by way of Global Entry), meaning I breeze through security in no time, a huge factor in reducing stress on travel days. The card also comes with an impressive list of travel protections, contributing to my peace of mind while traveling.

Finally, I continue to find value in the Amex Fine Hotels + Resorts program, through which I can redeem the Amex Platinum card’s annual, up-to-$200 statement credit and receive elite-like perks at hotels such as complimentary breakfast and a room upgrade, when available.

Score Huge Amex Welcome Bonus Offers

Whether you already have one of these cards or none at all, now could be one of the best times to apply. American Express has rolled out variable welcome offers for both cards, so you can earn as high as 175,000 bonus points with the Amex Platinum card and as high as 100,000 bonus points with the Amex Gold card:

• Amex Platinum card: Apply and find out if you're eligible for as high as 175,000 points after spending $8,000 in eligible purchases in the first 6 months. Welcome offers vary and you may not be eligible for an offer.

NEW OFFER

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.

Apply Now(at Amex's secure site)

Apply With Confidence

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

You may be eligible for as high as 175,000 Membership Rewards^® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.

As High As 175,000 Points. Find Out Your Offer.

UP's Offer Valuation*:

Up to $3,850

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)

Read Full Review

Card Highlights

• You may be eligible for as high as 175,000 Membership Rewards^® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
• 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.
• Enjoy the benefits of the Global Lounge Collection, with over $500 of annual value if you visit Centurion Lounges and each of our partner lounges including Delta Sky Club^® lounges when flying an eligible Delta flight (subject to visit limitations) , select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges, and enroll in Priority Pass Select. See terms.
• A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart. Use your Platinum Card^® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive one statement credit for up to $12.95 (plus applicable taxes. Plus Ups not eligible) each month. Free Shipping excludes most Marketplace items, freight & certain location surcharges. Paramount+ Essential plan only, separate registration required.
• $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^® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
• $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 get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. Receive up to $199 in statement credits per calendar year after you pay for your CLEAR Plus Membership (subject to auto-renewal) with the Platinum Card^®.
• 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.
• Use Global Dining Access by Resy to access premium dining experiences. Receive Priority Notify and unlock insider access to some of the world's most sought-after restaurants with Global Dining Access by Resy. Download the Resy iOS app or log into Resy.com and add your Platinum Card^® to your Resy profile to take advantage of your special benefits and discover restaurants near you.
• $695 annual fee.
• Terms Apply.

Financial Snapshot

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

Rewards Center

American Express Membership Rewards

• Amex Gold card: Apply and find out if you're eligible for as high as 100,000 points after spending $6,000 in eligible purchases in the first 6 months. Welcome offers vary and you may not be eligible for an offer.

NEW OFFER

Terms Apply / Rates & Fees

American Express^® Gold Card

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.

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

Apply Now(at Amex's secure site)

Apply With Confidence

Know if you're approved with no credit score impact

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

American Express^® Gold Card

This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!

Welcome Offer

You may be eligible for as high as 100,000 Membership Rewards^® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.

As High As 100,000 Points. Find Out Your Offer.

UP's Offer Valuation*:

Up to $2,200

Annual Fee

$325

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

The American Express^® Gold Card is a game-changer.

With this card, you can earn 4x Membership Rewards points at restaurants, up to $50,000 per calendar year, and you’ll also earn 4x Membership Rewards points at U.S. supermarkets on up to $25,000 per calendar year, then 1x.

There isn’t another card on the market that offers a 1-2 punch like this. Of course, there are several other benefits of the Gold Card as well, including extra monthly dining rewards and more.

Pros & Cons

Pros

• 4x points per dollar at restaurants worldwide, up to $50,000 per calendar year; then 1x thereafter
• 4x points per dollar at U.S. supermarkets, up to $25,000 per calendar year; then 1x thereafter
• 3x points per dollar on flights purchased directly from airlines or at AmexTravel.com

Cons

• $325 annual fee (rates and fees)
• No lounge access

Read Full Review

Card Highlights

• You may be eligible for as high as 100,000 Membership Rewards^® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
• Earn 4X Membership Rewards^® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
• Earn 4X Membership Rewards^® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
• Earn 3X Membership Rewards^® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
• Earn 2X Membership Rewards^® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
• Earn 1X Membership Rewards^® point per dollar spent on all other eligible purchases.
• $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards^® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
• $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express^® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
• $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express^® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
• $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express^® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
• Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
• No Foreign Transaction Fees.
• Annual Fee is $325.
• Terms Apply.

Financial Snapshot

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

Rewards Center

American Express Membership Rewards

Once you complete the application, you’ll be able to preview your personalized welcome offer, if approved. Applying for the cards now won’t automatically impact your credit score, and you can exit the process if you don’t want to move forward with accepting your welcome offer. A hard credit inquiry may only occur if you choose to accept the new card and open the account.

Final Thoughts

The Amex Platinum card and Amex Gold card are powerful in their own right, but when combined, they complement each other such that the whole is greater than the sum of its parts.

In terms of earning, I have the vast majority of my purchases covered under a bonus category between the 2 cards, ensuring I’m earning a handsome number of Membership Rewards points monthly, which I then use to book travel.

When it comes time to travel, the Amex Platinum card steps in and takes me to my destination with ease and greater comfort. I have no problem justifying the combined annual fees of these cards, and I don’t see myself giving up on this duo any time soon.

For the car rental loss and damage insurance benefit of The Platinum Card^® from American Express, 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, 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 trip cancellation and interruption insurance benefit of The Platinum Card^® from American Express, 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, 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 American Express^® Gold Card, 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 purchase protection benefit of the American Express^® Gold Card, 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 extended warranty benefit of the American Express^® Gold Card, 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.