Who should and shouldn’t get the American Express Platinum?
The Platinum Card® from American Express packs a lot of punch into its metal shell. That shouldn’t come as much of a surprise, given that it’s among the heaviest and most expensive of the publicly available premium cards.
While the current welcome offer alone is worth up to $3,500 (based on TPG’s September 2025 valuations) and the luxury perks — including travel credits, elite status and lounge access* — can add several hundred dollars or more a year to its long-term value, most people considering the Amex Platinum will fixate on one number: the $895 annual fee (see rates and fees).
It’s easy to make the case that the Amex Platinum can pay for itself over time, but that doesn’t necessarily mean it’s the right card for you. So, let’s look at who should — and shouldn’t — get the Amex Platinum.
*Enrollment is required for select benefits.
Key benefits
Right now, you can find out your offer and see if you are eligible for as high as 175,000 points after spending $8,000 on purchases on the card in your first six months of card membership. Welcome offers vary and you may not bot be eligible for an offer.
According to TPG’s valuations, Membership Rewards points are worth 2 cents each, making that bonus worth up to $3,500. That’s an excellent return in and of itself.
No matter which bonus offer you get, all Platinum cardmembers enjoy the same valuable perks. To offset the annual fee, Amex offers several statement credits, with some notable ones including (enrollment is required for select benefits):
- Up to $600 hotel statement credit per calendar year on eligible Fine Hotels + Resorts and The Hotel Collection bookings (up to $300 semi-annually; minimum two-night stay required for The Hotel Collection)
- Up to $400 every calendar year (up to $100 each quarter) for purchases at U.S. Resy restaurants. No reservation is required
- Up to $300 per calendar year (up to $25 monthly) in digital entertainment statement credits for eligible subscriptions
- Up to $200 statement credit each calendar year for airline incidental charges, such as seat assignment, lounge access and checked bag fees with a select qualifying airline
- Up to $200 in Uber Cash each calendar year in increments of up to $15 per month, plus an up to $20 bonus in December (for U.S. services). You can also use these credits to order food from Uber Eats. Uber Cash will only be deposited into one Uber account when you add the Amex Platinum as a payment method and redeem with any Amex card
- Up to a $120 Uber One statement credit that fully covers an auto-renewing $96 annual or $9.99 monthly membership
- Up to $100 in Saks Fifth Avenue credits (up to $50 semi-annually)
- Up to $120 for Global Entry/TSA PreCheck: Either a $120 statement credit available every four years after you apply for Global Entry or an up to $85 statement credit available every 4½ years after you apply for a five-year membership for TSA PreCheck
- Up to $300 each calendar year (up to $75 quarterly) Lululemon statement credit for U.S. stores (excluding outlets) and online
The Amex Platinum also offers 5 points per dollar spent (or a 10% return based on TPG’s valuations) on airfare booked directly with the airline, as well as on airfare booked through American Express Travel® (on up to $500,000 per year, 1 point per dollar spent thereafter). You’ll also earn 5 points per dollar spent on prepaid hotels booked through Amex Travel (including prepaid Amex Fine Hotels + Resorts bookings).
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That’s the best return you’ll get anywhere on buying airline tickets, according to our valuations.
Frequent travelers will also appreciate that the Platinum offers the most comprehensive lounge access of any card, including a Priority Pass™ Select membership (enrollment required), Amex’s growing global collection of Centurion Lounges, Delta Sky Clubs when flying Delta (limited to 10 annual visits, unlimited visits can be unlocked by spending $75,000 or more on your card in a calendar year ), Aspire, Escape and select Lufthansa lounges. Enrollment may be required; access is limited to eligible cardmembers.
Rounding out the list of benefits are Gold elite status with Hilton and Marriott and Leaders Club Sterling status (enrollment is required), access to a premium concierge service, travel protections, car rental insurance*, baggage insurance** and a host of other lesser-known perks.
*Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.
**Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.
Who should get the Amex Platinum?
People who are over Chase’s 5/24 rule
When people come to me looking for starter card recommendations, I’ll almost always suggest either the Chase Sapphire Preferred® Card (see rates and fees) or the Chase Freedom Unlimited® (see rates and fees).
Chase Ultimate Rewards points are slightly more valuable than Amex Membership Rewards points — TPG’s September 2025 valuations peg Ultimate Rewards at 2.05 cents and Membership Rewards points at 2 cents — and Chase’s “5/24 rule” gives me plenty of reason to recommend getting your Chase cards first.
If you aren’t familiar with this rule, it means that applicants who’ve opened five or more cards in the last 24 months across all issuers will be automatically rejected for most Chase cards. This is why you should usually prioritize Chase cards as you start building up your wallet with our best rewards credit cards.
However, after you max out your five Chase slots, what comes next? The Amex Platinum is a perfect answer, and it can even help you get more value out of your Chase points.
The other benefits of the Amex Platinum can also complement a rewards strategy that started with Chase. Unlike the Platinum card, Chase cards don’t offer Uber Cash or as many options for airport lounge access.
Related: 4 different flavors of Amex Platinum — which one is right for you?
People who will use the lounge access
If you can fully use the statement credits on the Amex Platinum each year, the out-of-pocket cost for the card goes down dramatically.
Instead of thinking about this as an annual fee you pay to Amex for the privilege of spending money on its hunk of metal, think about it as an annual lounge membership fee.
As a reminder, the Amex Platinum comes with a Priority Pass Select membership (enrollment required), access to Amex’s global Centurion Lounges and access to Delta Sky Clubs (but only when flying same-day Delta flights; limited to 10 annual visits, unless you spend $75,000 to unlock unlimited visits). Lounge access is limited to eligible cardmembers.
Amex currently operates Centurion lounges in more than twenty airports, making the card even more worth it if you live in or frequently transit through one of those locations.
People who stay at Hilton, Marriott or select luxury hotels
The Platinum Card provides Gold elite status with Hilton and Marriott to cardmembers, including authorized users (enrollment required).
If you don’t have Gold status or higher with these brands through other credit cards or organically through stays, Gold status with these brands provides useful benefits, including room upgrades, points bonuses, and welcome gifts.
You’ll also receive Leaders Club Sterling status from Leading Hotels of the World, a collection of luxurious independent hotels.
If you like to stay at luxury hotels, you’ll also have access to the Amex Fine Hotels + Resorts (FHR) program as an Amex Platinum cardholder or authorized user. When you book an FHR stay, you’ll get elitelike benefits, including guaranteed 4 p.m. late checkout, daily breakfast for two and a unique property amenity valued at $100 or more.
Who shouldn’t get the Amex Platinum?
People under 5/24
Many people just starting in the points world underestimate the stringency of Chase’s 5/24 rule. I remember when I got my first credit card, I couldn’t imagine opening five or more cards in two years — yet I ended up opening 17 in that time frame. I estimate I lost well over $1,000 by not being eligible for an Ink Business Preferred® Credit Card during those early years.
However, once you get over 5/24, it may be hard to get back under, and there’s a massive opportunity cost in doing so. Having a plan and sticking to it will serve you well in the long term.
The information for the Ink Business Preferred has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
People who book airfare through online travel agencies
The Platinum Card provides 5 Membership Rewards points per dollar spent on flights booked directly with airlines or with American Express Travel (on up to $500,000 of spending each calendar year, then 1 point per dollar spent).
However, if you prefer to purchase airfare through online travel agencies (OTAs) such as Orbitz and Expedia, you’ll only earn 1 point per dollar spent with the Platinum Card. As a result, you’ll do better with a card like the Chase Sapphire Preferred or the Citi Strata Premier® Card (see rates and fees), which provides bonus earnings on air travel purchases with OTAs.
People who can’t maximize the Platinum’s statement credits
One of the main arguments in favor of keeping the Amex Platinum long-term is that its various statement credits drastically reduce the out-of-pocket cost you’re really paying.
If, for some reason, you can’t take full advantage of all of these statement credits, the math gets a little stickier. Uber Cash, for example, can only be used within the U.S., so expats like me mostly waste it. Enrollment is required for select benefits.
Maybe you do not need an extra up to $200 in airline credits each calendar year — if you have elite status and all your travel is covered by points or your job, that extra money might be wasted on you, especially given the restrictions around the credits.
Carefully consider just how much these credits are worth to you; if they provide little to no value, another Amex card might be a better fit.
People who’d be better off with the Amex Business Platinum Card
Several versions of the Platinum card exist, including the personal card and The Business Platinum Card® from American Express. Mostly, they share the same perks and benefits, but small differences might lead you to pick one or the other.
For example, the Business Platinum also has an annual fee of $895 (see rates and fees), but it doesn’t offer the same up to $200 Uber Cash each calendar year as the personal version.
It adds another bonus category, though — 2 points per dollar spent on eligible purchases in select business categories and eligible purchases of $5,000 or more (on up to $2 million of these purchases per calendar year, then 1 point per dollar).
The Business Platinum also provides up to $1,150 in statement credits per calendar year for U.S. Dell purchases: up to $150 each calendar year and an additional $1,000 statement credit after spending $5,000 on Dell purchases with the same card each calendar year (enrollment required).
You can also access the Pay with Points redemption option on the Business Platinum card, which gets you a 35% bonus for eligible flights with your selected airline using your Amex points (up to 1 million points back per calendar year). This is notably not available on the personal Amex Platinum.
Bottom line
The Amex Platinum Card from American Express regularly makes the cut as one of TPG’s best travel card recommendations because of the outsize value it can provide, from the initial welcome offer to the ongoing luxury perks it offers.
However, even when a card is valuable, it might not be your best choice. You have to consider how this application factors into your long-term plans, especially as it relates to other issuers. You also have to ensure you can maximize the benefits in your life, at least enough to recoup the hefty annual fee.
The Amex Platinum can easily pay for itself through its valuable benefits and redemption options, but only if you’re able to easily and naturally use them.
To learn more, check out our full review of the Amex Platinum.
Apply here: The Platinum Card from American Express
For rates and fees of the Amex Platinum Card, click here.
For rates and fees of the Amex Business Platinum Card, click here.
