Top 5 Mistakes New Amex Platinum Cardholders Make

If you’re looking for premium travel and lifestyle benefits, the Platinum Card^® from American Express is arguably the best. With its latest 2025 refresh, the card carries a hefty $895 annual fee (rates & fees), but with the right strategies, cardholders can easily offset that cost and unlock even greater value.

Whether you’re opening your first American Express card or adding another to your wallet, you should know the pitfalls to avoid. This guide breaks down the most common mistakes new Amex Platinum cardholders make — and shows you exactly how to maximize every benefit from day 1.

1. Not Strategizing the Welcome Bonus Offer

Applying for the Amex Platinum card works differently from the typical card application process. While many issuers advertise a flat welcome bonus, like 80,000 or 100,000 points after meeting spending requirements, Amex personalizes welcome offers.

New applicants are eligible to earn this publicly available welcome bonus offer: 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.

With an initial soft credit check, you can see your personalized welcome offer for the Amex Platinum card without any credit score impact. You’ll know the exact number of points you qualify for only after your application is submitted and approved. If you decide not to proceed with the bonus offer, your credit score won’t be affected. But if you accept the card along with your personalized welcome offer, your credit score may be impacted with a hard inquiry.

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Platinum Card^® from American Express

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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.

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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

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 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.

Financial Snapshot

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

Rewards Center

American Express Membership Rewards

Because welcome bonuses are typically a once-per-cardholder opportunity, holding out for the strongest bonus offer can give your rewards balance a powerful head start. That’s why many applicants wait for the highest bonus offers to reach as high as 175,000 points.

2. Not Writing Down Your Virtual Card Number

Once you’ve been assigned a welcome bonus offer, the next step is planning how to meet the spending requirement. Track your progress through the Amex website or app, since falling short means forfeiting those valuable points.

After your account is approved, American Express lets you access your new card number immediately, so you’ll want to jot it down somewhere safe. This 16-digit number will match what’s on the card that arrives in the mail, though the 4-digit security code on the front will differ.

This virtual card number feature allows you to begin spending immediately, giving you a head start toward meeting the minimum requirement. That 6-month clock starts the moment you’re approved and accept the card, so every purchase counts. You can also add your card to mobile wallet apps, such as Google Wallet or Apple Pay.

Hot Tip:

The Amex Platinum card has no preset spending limit, so your spending limit is flexible. Unlike a traditional card with a set limit, the amount you can spend depends on factors such as your purchase, payment, and credit history.

3. Not Knowing How the Annual Fee Works

I’ve had the Amex Platinum card for 5 years and counting. While paying $895 every single year may seem outrageous, I view it less as an annual fee charge and more as a membership fee.

Much like paying $130 for a Costco Executive membership, I pay the Amex Platinum card’s fee to unlock an exclusive suite of benefits upon enrollment, spanning travel, dining, entertainment, and a robust rewards program. Admittedly, this rewards card is certainly not the right fit for everyone. But for those whose lifestyle naturally aligns with the perks, the value can far outweigh the cost, as we’ll explore below.

Upon account opening, be prepared to pay the $895 annual fee pretty much upfront. It’s due by your first statement cycle after opening the account and will continue to come due on that same date each year.

Your payment due date falls 25 days after the close of each billing cycle and will remain consistent each month, unless it lands on a weekend or holiday. To avoid interest charges, late fees, and other penalties, pay your full statement balance (not necessarily your entire outstanding balance) by that due date.

4. Not Enrolling in Benefits Immediately

Your physical Amex Platinum card may arrive by mail in up to 7 business days. Once it’s in hand, you’ll want to unlock the full membership experience.

With the 2025 refresh, American Express updated its mobile app (iOS, Android). You can now confirm your new card simply by tapping it, with no need to enter lengthy card number details manually.

After confirmation, the guided setup walks you through each of the card’s features and benefits, presented one by one with easy enrollment buttons where required. Many of the card statement credits, such as the airline incidental fee credit or the new lululemon credit, require prior enrollment before using them.

Even if you don’t expect to use every perk on the Amex Platinum card, it’s worth enrolling anyway. It’s a quick, one-time process that you’ll never have to do again throughout the duration of your card membership.

Hot Tip:

From there, the app’s “Benefit Activity” tab makes it easy to track your usage throughout the year, helping you monitor progress toward maximizing each benefit.

5. Not Understanding How Amex Platinum Card Benefits Work

The Amex Platinum card is more like a travel and lifestyle membership that lets you earn points on purchases. Once you’ve enrolled in the available perks, it’s essential to understand how each one works, since every benefit comes with its own set of terms and conditions.

Many of the Amex Platinum card’s perks are issued on a monthly, quarterly, semiannual, or annual schedule, and unused value doesn’t roll over. To help you keep track, here’s a quick cheat sheet.

Hotel Credit and Access to Fine Hotels + Resorts

Amex Platinum cardholders get access to the issuer’s top-tier hotel program, Fine Hotels + Resorts. By booking these luxury hotels via AmexTravel.com, you receive enhanced benefits during your stay, such as complimentary breakfast for 2, guaranteed 4 p.m. late checkout, and more. Not only that, but you’ll earn 5 Membership Rewards points per $1 spent on prepaid Fine Hotels + Resorts reservations.

To complement this benefit, Amex Platinum cardholders receive up to $600 back in statement credits each year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings. You’ll also receive up to a $300 credit semi-annually.

The Hotel Collection is another hotel program offered by AmexTravel.com, accessible to other Amex cardholders as well. However, if you’re booking a prepaid reservation in The Hotel Collection, there’s a 2-night minimum, whereas the Fine Hotels + Resorts properties don’t have any minimums.

Airport Lounge Access

The Amex Platinum card offers the primary cardholder access to over 1,550 airport lounges. This includes 30 Amex Centurion lounges, 10 complimentary Delta Sky Club visits when flying on an eligible Delta flight, and Priority Pass lounges.

Enrollment is not required, as your card and same-day boarding pass will be your ticket into most lounges. However, upon receiving your card, you’ll need to enroll separately in a Priority Pass Select membership to enter Priority Pass lounges.

You can typically bring up to 2 guests for free into Priority Pass lounges, but the same can’t be said for the other lounges part of the Amex Global Lounge Collection. You’ll need to spend at least $75,000 on the Amex Platinum card per calendar year in order to unlock guest access for the other lounges.

Airline Incidental Fee Credit

The Amex Platinum card includes up to a $200 airline incidental fee credit, which you can use toward seat selection fees, checked bag fees, and other incidental charges incurred on 1 domestic airline of your choice, including Delta Air Lines, Southwest Airlines, and Spirit Airlines.

You can designate your airline when receiving the card and change it once per year in January. Enrollment required.

CLEAR^® Plus Membership Credit

The cost of an annual CLEAR Plus membership is $209, but the Amex Platinum card offers up to a $209 statement credit every year. CLEAR is available at dozens of airports across the country that uses biometrics to provide a faster security experience and is a must-have for frequent travelers.

Uber One Credit and Uber Cash Benefit

The Amex Platinum card offers a valuable up to $200 Uber Cash benefit every year, providing $15 in Uber Cash each month plus a bonus $20 in December. You can use Uber Cash toward Uber rides and Uber Eats orders in the U.S. and pay for the purchase with an Amex card. Simply go to the Uber app and select your new Amex Platinum card as the payment method, and the Uber Cash will be automatically deposited into your account every month.

In addition, you’ll want to use your Amex Platinum card to pay for an auto-renewing Uber One membership to receive up to $120 in statement credits per calendar year. Since the membership typically costs $9.99 per month or $96.00 per year, this credit covers the full cost. 

Uber One members get 6% Uber One credits on eligible Uber rides, up to 10% off eligible Uber Eats orders, and unlimited $0 delivery fees on eligible Uber Eats orders over the minimum subtotal.

Resy Dining Credit

Upon enrollment, Amex Platinum cardholders can get up to $100 in statement credits each quarter toward U.S. Resy restaurants. This means you can receive up to $400 annually per year just by paying for a Resy-affiliated restaurant with your Amex Platinum card.

Digital Entertainment Credit

After enrolling in this benefit, cardholders receive up to $25 per month in digital entertainment credit on select services. This credit adds up to $300 in maximum value annually for Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV.

lululemon Credit

Amex Platinum cardholders receive up to $75 in statement credits per quarter for eligible purchases at U.S. lululemon stores or at lululemon.com — excluding outlets. That’s up to $300 annually in statement credits. Enrollment required.

Oura Ring Credit

Amex Platinum cardholders receive up to $200 in statement credits every calendar year to purchase an Oura Ring at Ouraring.com. Unfortunately, this credit does not work toward the ongoing Oura ring membership. Enrollment required.

Walmart+ Credit

After enrollment, you’ll receive a statement credit of up to $12.95 plus applicable local sales tax for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with your Amex Platinum card. This credit is worth up to $155 per year.

Saks Fifth Avenue Credit

Amex Platinum cardholders receive up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com — split into 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, but enrollment is required.

Hotel and Rental Car Elite Statuses

Amex Platinum cardholders can enroll in complimentary rental car and complimentary hotel elite statuses: Avis Preferred, Hertz President’s Circle, National Emerald Club, Hilton Honors Gold, Marriott Bonvoy Gold Elite, and Leaders Club Sterling. Again, enrolling is a one-and-done process. Just keep your membership numbers handy when booking eligible travel.

Final Thoughts

The ongoing annual fee is an investment in premium benefits that can make sense for the right traveler. With a bit of strategy and organization, the Amex Platinum card can more than pay for itself and elevate your travel and lifestyle experiences along the way.