Why I’m Keeping My Amex Platinum Card Despite the $895 Annual Fee

When I first heard the Platinum Card^® from American Express was raising its annual fee from $695 to $895 (rates & fees), my instinctive reaction was the same as many cardholders: Ouch! That’s a $200 jump, and it’s not exactly small change.

But when I took a closer look at the 2025 refresh, the new benefits add far more value than the increase — if you use them. And as someone who’s been carrying the Amex Platinum card for years, I can say with confidence that these perks are easy to integrate into everyday (and travel) spending.

Here’s how they stack up in the real world and my reasons for keeping my Amex Platinum card despite the annual fee hike.

Amex Platinum Card Overview

The Amex Platinum card isn’t necessarily my everyday card — I usually use other cards for groceries, dining, and general purchases. But when it comes to airfare and hotels, earning 5x points on flights booked directly with airlines or via AmexTravel.com make it a no-brainer (up to $500,000 per calendar year, then 1x points) and on prepaid hotels booked via AmexTravel.com.

What really makes the card a travel powerhouse are the perks. From comprehensive airport lounge access to automatic hotel and car rental elite status upon enrollment and premium benefits, it’s a mainstay in my wallet for any trip. And the statement credits upon enrollment? They’re legitimately useful, easily offsetting a big chunk of the annual fee.

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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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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

$895

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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 card application.

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 1,550 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

• $895 annual fee (rates and fees)
• Airline credit does not cover airfare (only incidentals like checked bags)

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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.
• Get more for your travels with 5X Membership Rewards^® points on all flights and prepaid hotel bookings through American Express Travel^®, including Fine Hotels + Resorts^® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel^® on up to $500,000 on these purchases per calendar year.
• More Value! With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection^®, over $850 of annual value, with access to Centurion Lounges, 10 complimentary Delta Sky Club^® visits when flying on an eligible Delta flight (subject to visit limitations), Priority Pass Select membership (enrollment required), and other select partner lounges. * As of 07/2025.
• More Value! $200 Uber Cash + $120 Uber One Credit: With the Platinum Card^® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card^® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card^® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• More Value! $300 Digital Entertainment Credit: Get up to $25 in statement credits each month after you pay for eligible purchases with the Platinum Card^® at participating partners. Enrollment required.
• More Value! $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts^® or The Hotel Collection* bookings through American Express Travel^® using the Platinum Card^®. *The Hotel Collection requires a minimum two-night stay.
• New! $400 Resy Credit + Platinum Nights by Resy: When you use the Platinum Card^® to pay at U.S. Resy restaurants and to make other eligible purchases through Resy, you can get up to $100 in statement credits each quarter with the $400 Resy Credit benefit. Plus, with Platinum Nights by Resy, you can get special access to reservations on select nights at participating in demand Resy restaurants with the Platinum Card^®. Simply add your eligible Card to your Resy profile to book and discover Platinum Nights reservations near you, enrollment required.
• More Value! $209 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. You can cover the cost of a CLEAR Plus Membership* with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with the Platinum Card^®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the 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.
• Start your vacation sooner, and keep it going longer. When you book Fine Hotels + Resorts^® through American Express Travel^®, enjoy noon check-in upon arrival, when available, and guaranteed 4PM check-out.
• New! $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card^® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
• $155 Walmart+ Credit: Receive a statement credit* for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with the Platinum Card^®.*Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.
• $100 Saks Credit: Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on the Platinum Card^®. That’s up to $50 in statement credits from January through June and up to $50 in statement credits from July through December. No minimum purchase required. Enrollment required.
• Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
• $895 annual fee.
• Terms Apply.

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• Foreign Transaction Fees: None

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American Express Membership Rewards

The newest updates to the Amex Platinum card bring even more credits, many of which fit my lifestyle better than ever. I absolutely love that Amex took nothing away from these existing benefits listed above — and focused on adding value instead. Here’s a look at the longstanding benefits of the Amex Platinum card:

• Up to $200 airline incidental credit (good toward expenses such as baggage and seat selection fees)
• Up to $200 Uber Cash ($15 per month, plus an additional $20 in December)
• Up to $240 digital entertainment credit ($20 per month)
• Up to $200 prepaid hotel credit on prepaid Fine Hotels + Resorts or The Hotel Collection bookings, which require a minimum 2-night stay, through AmexTravel.com
• Up to $155 Walmart+ credit (with free same-day delivery and free shipping on orders)
• Up to $300 Equinox credit annually
• Up to $100 Saks Fifth Avenue credit ($50 from January to June and $50 from July to December)
• Up to $209 CLEAR^® Plus credit

Enrollment is required for some benefits. Below, I’ll talk about why I’m particularly excited about the new and enhanced benefits.

lululemon Credits (Up to $300)

Amex has leaned heavily into lifestyle credits with its recent refreshes of the Amex Platinum card, and while some of them don’t always fit my day-to-day, this one hits home. My wife, daughters, and I are all big fans of lululemon, so getting statement credits here is basically as good as cash for us.

Cardholders can now get up to $75 in lululemon statement credits per quarter for eligible purchases at U.S. lululemon stores or luluemon.com, for a total of $300 a year (enrollment required).

With lululemon’s workout gear, athleisure, and even smaller items like water bottles or backpacks, it’s easy for us to use the full amount. Since the statement credit resets quarterly, I can spread out purchases and get full use.

For me, this credit is essentially full value. I’ll definitely max out the $300 each year, and in reality, I usually end up spending a little more on top of it to get exactly what I want.

Resy Statement Credits (Up to $400)

Dining credits aren’t new in the premium card world, but this one really fits the way I eat out. The new Resy credit gives me up to $100 each quarter in statement credits at U.S. Resy restaurants, whether that’s a Michelin-starred splurge or just one of my favorite local spots (enrollment required).

I already use Resy often to book restaurant reservations, so this feels like cash-back on something I’d be doing anyway. Since it resets quarterly, it actually nudges me to plan family meals out or treat myself a little more deliberately.

And it’s kind of a low-key perk, but you don’t always need to make the reservation through Resy for the credit to work — as long as the restaurant is in the Resy network and I pay with my enrolled Amex card, the statement credit shows up automatically. For me, this is a solid $400 in real value every year.

Platinum Nights by Resy (Varies)

This isn’t a statement credit, but it’s still worth mentioning. Platinum Nights by Resy is Amex’s newest program that opens up extra reservation times on select nights at high-demand restaurants in New York, Los Angeles, and Miami. As someone who lives in Miami, I know this perk will come in handy.

I added my Amex Platinum card to my Resy profile in under a minute, and right away I started seeing tables that hadn’t shown up before. It’s not something I’d call a must-have, but if you’ve ever struggled to book a spot at a popular place, it can come in handy. For me, it’s more of a nice bonus than a major perk.

Oura Ring Statement Credit (Up to $200)

The Oura Ring is a sleek wearable that tracks sleep and activity, and it’s become popular for the health insights it provides. With the Amex Platinum card, you can now get up to $200 back each year in statement credits when you buy one at Ouraring.com (enrollment required).

As someone who’s always struggled with sleep, I’ve been looking for a way to better understand my sleep efficiency and habits. I’ve had my eye on the Oura Ring for a while, and this credit takes away the hesitation. It feels like the perfect first step toward getting a clearer picture of how I actually sleep.

Since I’d definitely use it, I’d value this perk at the full value for the first year — though I’m unclear that I’ll use the statement credit for years thereafter.

Leaders Club Sterling Status with the Leading Hotels of the World (Varies)

I’ve only stayed at a Leading Hotels of the World property once in my life, so, admittedly, I don’t put a lot of weight into this perk. That said, if you do stay at its brands, then automatic Sterling status with its Leaders Club loyalty program can be valuable. It includes 5% Leaders Club points bonus on qualifying stays and up to 5 pre-arrival room upgrades annually, subject to availability.

For example, Acqualina Resort in Miami, named the No. 1 Best Resort and No. 1 Best Hotel in the Continental U.S. by U.S. News & World Report, is part of the Leading Hotels of the World portfolio. If you’re staying at properties like that, this status can go a long way.

Digital Entertainment Statemnet Credits (Up to $300)

With the latest refresh, the digital entertainment credit got a bump from up to $20 to up to $25 per month — that’s now up to $300 per year in statement credits for eligible subscriptions to one or more of the following: Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV (enrollment required).

Since I’m already subscribed to YouTube TV, YouTube Premium, Netflix, and the Disney Bundle, this is automatic savings for me. That extra $5 a month — $60 more each year — makes a difference, and I’ll easily max out the full, up to $300 value without changing a thing.

Hotel Credit (Up to $600)

For me, this is one of the biggest wins from the refresh. Amex tripled the annual prepaid hotel credit from $200 to $600 on the Amex Platinum card, now giving cardholders up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts or Hotel Collection stays booked through AmexTravel.com (with a 2-night minimum for latter).

I already make a point to book at least 1 Amex Fine Hotels + Resorts stay every year because I love the included breakfast, property credits, and late checkout. With up to $600 to work with annually, I can easily split it between a summer weekend trip and a winter getaway. Realistically, I’d value it at $500 or more, since I likely won’t always use every last dollar, but it’s still one of the most valuable perks for me.

For example, on an upcoming bucket-list trip, I booked Emirates’ Game Changer first class to Dubai (DXB) and then Qatar Airways Qsuites back home to Miami (MIA). On the return, I have a 1-night layover in Doha (DOH), so I used my semi-annual, up to $300 prepaid hotel credit to book the swanky Four Seasons Doha.

The room cost me $369 for the night, and that $300 credit will wipe out most of the bill, a perfect way to keep cash in my pocket while enjoying a luxury property.

Final Thoughts

There’s no denying that the new annual fee on the Amex Platinum card is steep, but for me, the refreshed perks and credits actually line up really well with how I already spend. With the new lululemon, Resy, and Oura Ring credits, .along with the boosted digital entertainment credit and the tripled prepaid hotel credit, these perks fit right into my lifestyle, so I don’t have to overspend or stress on how to use them.

When I step back and add it all up, the Amex Platinum card fits how I actually live and travel, especially when I layer in airport lounge access, elite hotel status, and even less-talked-about perks such as travel and purchase protections.

The credits are easy for me to use, and the travel perks only add to the value. It’s not about chasing every benefit — it’s about the card working naturally for my lifestyle, which is why I plan to keep it.