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American Express Platinum Card Review
The Platinum Card® from American Express is designed for frequent travelers. You can 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 with the The Platinum Card® from American Express. The card carries a $695 annual fee. (See Rates & Fees)
- Issuer NameAmerican Express
- Credit NeededGood, Excellent
- Annual Fee$695
- APRSee Pay Over Time APR
- Penalty APRSee Rates & Fees
- Cash Advance FeeEither $10 or 5% of the amount of each cash advance, whichever is greater.
- Foreign Transaction FeeNone
- Can meet the spending requirement to get the welcome offer.
- Use the travel perks enough to justify the annual fee.
- Do a lot of spending on travel – more so than everyday categories – and want to be rewarded for it.
Frequent travelers looking to maximize the rewards earned on their trip-related spending, and who want to enjoy some luxuries like airport lounge access, will appreciate having The Platinum Card® from American Express. Starting with its large welcome offer, the card can bring a lot of value if you travel frequently enough to warrant a card of this level.
You can maximize rewards on nontravel purchases by pairing The Platinum Card® from American Express with a flat-rate rewards or cash back card, or one that prioritizes everyday spending categories like gas and groceries.
Editor’s Take
For those who travel (and spend) enough to justify the hefty yearly fee, the card boasts a number of benefits, including the $200 annual airline fee credit for incidental purchases, up to $200 in Uber cash annually, up to $20 a month back on streaming services and up to $300 for an Equinox membership. But if you don’t take advantage of them, then The Platinum Card® from American Express isn’t worth its $695 annual fee. (See Rates & Fees)
Maximizing the card’s value takes some effort in that you’ll have to register and opt in to earn various statement credits or offers, and be willing to use the American Express travel portal to book your trips. For instance, if you never take an Uber, forget to select your airline to earn the airline credit, or don’t book any stays via the Fine Hotels + Resorts or The Hotel Collection, that’s $600 in statement credits and benefits you could miss out on.
But if you spend a lot of time at airports and in hotels, booking those trips with this card can help offset the cost of your travel and enhance your overall experience.
Dawn PapandreaContributor
Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
Maximize your benefits by using The Platinum Card® from American Express on travel expenses. You can 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. Earn 80,000 Membership Rewards® Points after you spend $8,000 on purchases on your new Card in your first 6 months of Card Membership.
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For rates and fees of the The Platinum Card® from American Express, (See Rates & Fees)
