Why My Amex Platinum Isn’t for Spending — It’s My Benefits Card

It’s easy to assume you need to spend big on the Platinum Card^® from American Express to get your money’s worth in rewards, but that’s the opposite of how it works for me.

In fact, most of my everyday purchases go on other credit cards with better earning rates. Even without earning significant rewards, I can justify paying the $895 annual fee (rates & fees) — here’s why.

Why the Amex Platinum Card Isn’t a Great Spending Card

While I consider the Amex Platinum card to be my most valuable card, I don’t use it as my primary spending card. If I used it for my everyday purchases, I’d earn far fewer points and miles than I can earn with other cards.

Though it has an excellent 5 points per $1 earning rate on airfare booked directly with airlines and on AmexTravel.com (up to $500,000 per year, then 1 point per $1), it doesn’t offer bonus categories for what I spend the most on, including groceries, dining, and general travel. Most purchases on the Amex Platinum card earn just 1 point per $1 spent, which is considerably weak.

For example, I can earn 3% cash-back on dining with my Chase Freedom Unlimited^® and 6 points per $1 on groceries at U.S. supermarkets with my Hilton Honors American Express Surpass^® Card.

For purchases I can’t earn bonus rewards on, I can use my Capital One Venture X Rewards Credit Card to earn 2 miles per $1 spent, or my Freedom Unlimited card to earn 1.5% cash back. All of these cards easily outperform my Amex Platinum card in rewards earning for most purchases.

How I Actually Use My Amex Platinum Card

It doesn’t take much spending on the Amex Platinum card to make it worth keeping. I don’t rely on rewards to justify the annual fee because the card’s benefits and statement credits more than offset the fee each year (some require prior enrollment).

In fact, American Express advertises that cardholders can unlock more than $3,500 in annual value from benefits, but I only count benefits that save me money and that I can realistically use. Let’s see how these compare to the $895 annual fee.

Earn 5x Points on Airfare Purchases

The Amex Platinum card earns 5 points per $1 on flights booked directly with airlines or on AmexTravel.com (up to $500,000 per year, then 1 point per $1), so I use it for almost all of my airfare purchases. The only exception is when I book flights with United Airlines, as I like to use my United℠ Business Card for benefits that include a free first checked bag and priority boarding.

However, I specifically use my Amex Platinum card for incidental fees with United, my selected airline. Typically, I use it for seat upgrades, but I can also use it for baggage, United Club access, or other fees with the card’s up to $200 annual incidental airline fee credit (enrollment required).

Using my Amex Platinum card for airfare also gives me access to the card’s travel protections, including trip cancellation and interruption, trip delay, baggage insurance, and the Premium Global Assist Hotline.

Statement Credits I Actually Use

I like to think of my Amex Platinum card as a membership card. Beyond the airline incidental fee credit, here are the statement credits I make sure to claim every year (many of which require prior enrollment):

• Digital entertainment purchases for Disney+ and Peacock to fully use the up to $300 annual digital entertainment credit
• Eligible dining purchases that trigger the up-to-$100 quarterly Resy statement credit
• Uber or Uber Eats purchases that use the $15 monthly Uber Cash benefit ($20 bonus in December) when you add your Amex Platinum card to your Uber account to use on rides and orders in the U.S when you select an Amex card for the transaction
• lululemon purchases that use the up-to-$75 quarterly credit
• Fine Hotels + Resorts or The Hotel Collection bookings that use the up-to-$600 annual prepaid hotel credit (The Hotel Collection requires a minimum 2-night stay)
• Up to a $155 annual Walmart+ credit to cover my monthly Walmart+ membership

With the digital entertainment credit, I save the full $25 each month on Disney+ and Peacock streaming subscriptions I would have paid for anyway, and the $155 Walmart+ credit covers the membership that offers free shipping and delivery and unlocks a Paramount+ Essential plan.

One of my favorite local restaurants in Houston, Phat Eatery, is on Resy, so it’s easy to use the Resy credit there to get up to $100 off meals each quarter. I also pick up takeout most months from Uber Eats when I don’t need to use my monthly Uber Cash credit for any rides.

The annual hotel credit (available semiannually as up to $300 credits) for prepaid Fine Hotels + Resorts or The Hotel Collection bookings saves me money on luxury stays. With the on-property benefits, typically including room upgrades, early check-in, late checkout, free breakfast for 2, and a property credit, I often pay rates similar to those of midlevel hotels, but get a much nicer stay with savings on dining.

Saving Even More While Traveling

Another major reason I use my Amex Platinum card is for travel perks that aren’t necessarily tied to card spending. It’s the best card for airport lounge access, which makes a big difference on travel days, especially when flying with my family. Here are the travel benefits I make sure to use:

• Access to the Global Lounge Collection of airport lounges, including Centurion Lounges and Priority Pass (enrollment required)
• Global Entry or TSA PreCheck application fee credit
• CLEAR+ membership for expedited security (subject to auto-renewal)
• Hotel elite status with Hilton Honors, Marriott Bonvoy, and Leaders Club (enrollment required)
• Rental car elite status with National, Hertz, and Avis (enrollment required)

It’s tough to put a dollar value on this benefit because it depends on how much I fly each year and who I bring to lounges with me, but it’s valuable when I travel with my family because it helps us save on airport food. I still cringe when I remember the time we couldn’t visit a lounge, and I told my kids to grab a couple of snacks from a kiosk, only to stare down a $60 total at checkout.

Of course, lounge access isn’t perfect. Some lounges can be crowded, and guest access policies vary. But when it works, it can make a huge difference in comfort and cost.

Should the Amex Platinum Card Be Your Only Travel Card?

My strategy works well if you can use the card’s benefits enough to offset the annual fee and can use other cards to earn more rewards on everyday purchases. However, if you only want to carry 1 credit card, the Amex Platinum card probably isn’t it.

While you’d get valuable benefits, you’d miss out on many rewards compared to cards with bonus rewards on groceries, dining, or general travel. A card with stronger everyday earning rates could be more valuable and less costly long-term, even if it has fewer perks.

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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 you spend $12,000 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.  

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

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Up to $3,850

Annual Fee

$895

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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
• Annual and monthly statement credits upon enrollment (airline credit, Uber Cash and Uber One, Resy, lululemon credit, streaming credit, prepaid hotel credit on eligible stays, Walmart+ credit, CLEAR+ credit, and Equinox credit)
• TSA PreCheck or Global Entry credit
• Access to American Express Fine Hotels and Resorts and Amex International Airline Program
• Access to Amex transfer partners
• No foreign transaction fees (rates and fees)

 

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 $12,000 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.
• 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.
• $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.
• $300 Digital Entertainment Credit: Experience the latest shows, news and recipes. Get up to $25 in statement credits each month when you use your Platinum Card^® for eligible purchases on Disney+, a Disney+ bundle, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV when you purchase directly from one or more of the providers. Enrollment required.
• $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.
• $400 Resy Credit + Platinum Nights by Resy: Get up to $100 in statement credits each quarter when you use the Platinum Card^® to make eligible purchases with Resy, including dining purchases at U.S. Resy restaurants. Enrollment required. 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.
• $209 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership* with up to $209 in statement credits per calendar year after you pay for CLEAR+ with your 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, when available, and guaranteed 4PM check-out.
• $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.
• 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.

Financial Snapshot

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• Foreign Transaction Fees: None

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If you travel at least a few times each year, the Amex Platinum card can be worth it, considering that many of the card’s most valuable benefits rely on travel, whether you’re making it through expedited security, visiting an airport lounge, or staying in a hotel. If you don’t fly or stay in hotels often, you might not get enough value from the card to justify the annual fee.

Final Thoughts

I don’t reach for my Amex Platinum card every day, but that’s exactly how I use it. As long as I can practically use the credits, perks, and airfare benefits to outweigh the annual fee, the Amex Platinum card deserves its place in my wallet.