The Platinum Card from American Express review (80k bonus!)

Josh is a freelance writer specializing in personal finance and travel credit card rewards. He also writes at Wallet Hacks, Well Kept Wallet, Frugal Rules, and USA Today Blueprint.

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I’m just going to jump straight into it—The Platinum Card® from American Express is said to have card perks valued at $1,400. We want to break this down to see what those perks are and how likely they will be to use. After all, this is one of Amex’s best cards, especially for travelers, so having easy-to-use perks is essential.

Unfortunately, plenty of perks mean a high annual fee (the annual fee is $695–See Rates & Fees). However, the numerous perks of this travel card, including airline credits, access to airport lounges, and upgraded status (enrollment may be required), help offset the fee pretty nicely.

Oh, and let’s talk about THAT welcome bonus!

Amex Platinum Welcome Bonus

You may be eligible for a bigger 100,000 or 125,000 point offer on Platinum Card® from American Express. You will need to use the CardMatch™ tool to see if you qualify. It’s free to see if you are targeted for the offer and takes a minute or less. You only have to enter your basic contact information and the last four digits of your Social Security Number to see the best credit offers. And you may be eligible if you have a good credit score for Amex Platinum.

Learn more: CardMatch™

Otherwise, the welcome bonus for The Platinum Card® from American Express is the ability to earn 80,000 Membership Rewards® points after spending $8,000 on purchases on your new Card in the first 6 months of Card Membership.

But I think we are getting ahead of ourselves. So, let me break down this card in a couple of ways. Hopefully, this Platinum Card from American Express Review will help you decide if this is the next card for your wallet.

80,000 points bonus: The Platinum Card® from American Express

Wailea Beach Resort adults-only pool. Credit: Johnny Jet

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

The Platinum Card from American Express Review 2024

Before we dive into the full review, let’s cover the highlights you may or may not like on this card. The Platinum Card® from American Express is great for these reasons:

The quickest way to earn travel rewards points from airline purchases
Receive up to $200 in annual airline fee statement credits for incidental fees at one qualifying airline (enrollment required)
Access to several airport lounge networks
Global Entry or TSA PreCheck fee credit
Upgraded membership status to Hilton Honors and Marriott Bonvoy Rewards Programs (enrollment required)
Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. That’s up to $50 in statement credits semi-annually (enrollment required)

Plus, there is a digital entertainment credit, Equinox, and CLEAR perks (terms apply). So, if you’ve been wondering if the Platinum Card from American Express is worth it, especially if you aren’t traveling, knowing there are other ways to earn rewards can be helpful.

And for those wondering, here’s how hard it is to get the Platinum Card.

The Amex Platinum Card Isn’t Good For…

While the American Express Platinum is a highly valuable travel rewards card in the right hands, there are a few drawbacks:

Airline Fee Credit has redemption restrictions
Some transfer partners charge a small fee when you transfer miles
Only earn bonus purchase rewards on airline and hotel reservations
There is a $695 annual fee (See Rates & Fees)

Although the annual fee is high, if you take advantage of all of the perks, you can easily offset it.

The Best Travel Rewards Card for Airline Purchases

While either of the Chase Sapphire credit cards can also be very valuable for earning and redeeming points for air travel, the Platinum Card probably has the edge in most instances. You earn five points per $1 on airfare purchased directly from the airline or using AmexTravel.com, up to $500,000 on these purchases per calendar year.

This is a better rate than many co-branded airline rewards cards that might offer two or three points.

When it comes time to redeem American Express Membership Rewards points for award flights (through AmexTravel), points are worth one penny each. A $300 ticket will cost you 30,000 points. However, the same ticket with the Sapphire Reserve would only require 20,000 points because Chase Ultimate Rewards points can be worth up to 1.5 cents each when redeemed for award travel.

You earn more with The Platinum Card® from American Express, but you also have to spend more than with other flexible travel rewards cards. But, as you earn points with every purchase, the lower value can still be worth the higher purchase rewards if you spend a lot of money on airlines and hotels.

Transferring Membership Rewards Points for Rewards

You might also consider transferring American Express points (Membership Rewards points) to one of the 20 Amex Travel Partners. You can transfer them on a 1:1 basis to airline partners including Delta, Air France Flying Blue, Aeroplan (Air Canada), Emirates, and Etihad.

This can be a good way to boost the value of your points. It can sometimes be more advantageous to book partner flights than directly from the airlines you plan to fly.

Before transferring points, be sure to read the fine print. Some airlines charge a transfer fee that can add up to $100. Many people think that the Chase Sapphire Reserve or Sapphire Preferred are the best cards for transferring miles to airline and hotel partners, but, this is also possible with the Amex Platinum card.

Hotel Rewards

Prepaid hotels booked with American Express Travel earn unlimited 5x points.

Cardholders can get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when they pay with the Platinum Card®. The Hotel Collection requires a minimum two-night stay.

If you like to stay at Hilton or Marriott Bonvoy properties, you also receive upgraded status with Gold membership status with both programs (enrollment required).

Having Gold status with Marriott Bonvoy means you can earn 3 points with every visit, receive 4 p.m. late checkout, free in-room internet, and a 5th night free when you redeem rewards points for the first four nights. If you want to learn about Marriott’s credit cards, check out our guide to the best Marriott credit cards. Hilton Gold status allows you to get a free breakfast, a 25% point bonus, and a free 5th night on a multi-night stay. Terms apply.

Perks

The Platinum Card® from American Express has a “frequent flyer” written all over it. Jetsetters will benefit the most from this card because of the bonus purchase rewards for airfare and also for additional perks. Even though it isn’t a co-branded airline credit card, it is still considered one of the best airline cards.

Annual Air Travel Credit

You will receive up to $200 in air travel statement credits every year (enrollment required). It can only be used for one airline that you select each year. But, it only covers baggage. This does put a damper on the credit, but, it is $200 of “free” money and helps justify the annual fee. Plus, those incidental fees can add up.

Complimentary Lounge Access

Get free access to over 1,000 airport lounges that belong to The Centurion Lounge, International American Express, Delta Sky Club, or Priority Pass Select (enrollment required) lounge networks. No other travel rewards card offers access to so many different lounge networks.

The American Express Global Lounge Collection® comes with complimentary access to more than 1,400 airport lounges across 140 countries and counting. Access more airport lounge options than any other credit card issuer on the market (as of 03/2023).

Holding the Amex Platinum gives you access to the Centurion Lounge.

Rental Car Benefits

As a Platinum cardholder, you will also receive complimentary membership and upgrade status for several of the leading national rental car agencies.

Whenever you rent a car, you will automatically receive complimentary secondary collision damage waiver insurance in case your rental car is damaged in a car accident or theft.

Fee credit for Global Entry or TSA PreCheck

Cardholders can get a fee credit of up to $100 for their Global Entry or TSA PreCheck applications. Plus, receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.

Global Entry actually works as a fast pass to help you clear immigration in the quickest manner possible whenever you return to the United States after a foreign trip. You become eligible for expedited security, provided you add your Known Traveler ID number to all your pertinent frequent flyer accounts. In case you aren’t presently registered with either of these, Global Entry is the one you must definitely look into.

CLEAR Credit

In addition to enjoying TSA PreCheck or Global Entry access, cardholders can also enjoy CLEAR perks.

When paying with their card, they can get up to $199 back per calendar year on their CLEAR Membership (subject to autorenewal).

American Express Concierge

By far the most difficult American Express Platinum benefit to putting a value on, the concierge service gives cardholders access to a certain program that can help them make purchases or make arrangements for all kinds of needs or wants. It’s basically a special phone service that functions as an outsourcing facility for the cardholders’ to-do lists, especially with regard to the things that they spend money on.

So, you can seek assistance for booking in-demand events, restaurants, delivery services, and more.

This concierge service can be particularly helpful in booking tables at many popular fully-booked restaurants or fine dining establishments the world over.

Elite Status with Hilton and Marriott Bonvoy

American Express added this perk for all Platinum cardholders, providing them with access to the Hilton Honors Gold Status (enrollment required). Gaining such an enrollment allows cardmembers to earn 25% Hilton Honors base points whenever they book stays with any of the Hilton hotels. Furthermore, all such gold status members get their 5^th night stays free (in standard room stays of 5 or more nights).

To tell you more about the significance of this benefit, you’re normally required to stay for a minimum of 40 nights at various Hilton properties OR earn 75,000 Honors base points (combined with a total of 20-night stays at various Hilton properties), all in a single calendar year, to unlock the Gold status.

American Express Platinum also earns you the Marriott Bonvoy Gold Elite status (enrollment required), entitling you to some amazing on-property benefits like 50% points bonus for stays, late checkouts, free premium internet, complimentary room upgrades, and more.

In-Flight And Airport Internet Services

All The Platinum Card® from American Express cardholders receive complimentary enrollment into Boingo’s preferred Internet plan that comprises unlimited Internet access through Wi-fi hotspots at airports worldwide. Please note you stand eligible for 10 Gogo in-flight Internet passes.

Normally costing $16 for an all-day pass, it can help you cut down your in-flight internet costs significantly.

Access To American Express Fine Hotels & Resorts Program

Another important benefit you get with your American Express Platinum card is access to the American Express Fine Hotels and Resorts (FHR) program. AMEX FHR is actually a travel website.

Digital Entertainment Credit

There’s an exciting perk that can add value to this card for many people. There’s also a digital entertainment credit, making this card one of the best for streaming services. Cardholders can get up to $20 in statement credits each month when they pay for eligible purchases with the Platinum Card®. Enrollment required.

Equinox Credit

Another exciting benefit is the ability for cardholders to get up to $300 back each year in the form of statement credits on an Equinox+ subscription or any Equinox club membership when they pay with their Platinum Card. Enrollment required.

Walmart+ Credit

Up to $155 Walmart+ credit is also available. With a Walmart+ membership, you can save on eligible delivery fees, shipping, and more. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.

The Business Platinum Card from American Express

If you’re looking for a business card alternative, consider The Business Platinum Card® from American Express. The Business Platinum card comes with the following benefits:

Global Entry or TSA PreCheck application fee credit
1:1 airline and hotel point transfers

Cardholders earn 5x Membership Rewards® points on flights and prepaid hotels on AmexTravel.com.

Earn 1x points for each dollar spent on eligible purchases.

Additionally, cardholders can get a 35% airline bonus when using their points to pay for all or part of a flight with a qualifying airline booked on amextravel.com, up to 500,000 bonus points annually.

Cardholders earn 1.5x points (that’s an extra half point per dollar) on eligible purchases at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.

Additional Perks

Additionally, unlock over $1,000 in annual statement credits on the curation of business purchases, including select purchases made with Dell Technologies, Indeed, Adobe, and U.S. wireless service providers.

Plus, get up to $200 in statement credits per calendar year for incidental fees charged by your one selected, qualifying airline to your Card.

Cardholders can get up to $199 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when they use their Business Platinum Card®.

With complimentary access to more than 1,400 airport lounges across 140 countries and counting, with The American Express Global Lounge Collection®. You have more airport lounge options than any other credit card issuer on the market as of 03/2023. Enrollment is required for some lounges.

Welcome Bonus Offer

Cardholders can earn 150,000 Membership Rewards® points after spending $20,000 in eligible purchases on their The Business Platinum Card® from American Express within the first 3 months of Card Membership.

The annual fee is $695 (See Rates & Fees).

Stockholm to Newark. SAS Plane in Stockholm. Credit: Johnny Jet

Perks and Benefits Summary

Actually, there are even more benefits offered by American Express Platinum that are listed here. While a good number of these benefits reset with the start of every calendar year, some of them just roll over if you continue holding the Amex Platinum card.

All in all, they’re very helpful for anyone who’s a frequent traveler. They easily justify and actually more than makeup for the steep $695 annual fee.

Here’s the credit score needed for the American Express Platinum.

Review of The Platinum Card from American Express

If you like to travel and “earn rewards points” with cards to help fund these adventures, chances are you have one or more of the best travel cards in your wallet. There are plenty of cards that reward loyalty to a specific hotel or airline. But, sometimes travelers need a card that provides rewards for multiple travel brands and offers premium benefits.

For jet-setters willing to pay a $695 annual fee (See Rates & Fees), The Platinum Card® from American Express might be the next card to put into your wallet. Here’s our quick review of the Platinum Card from American Express.

Welcome Offer

The Amex Platinum wouldn’t be a legitimate travel rewards card if it didn’t offer a welcome offer of some variety.

New The Platinum Card® from American Express cardmembers can earn 80,000 Membership Rewards® points after spending $8,000 on purchases on their new Card in the first 6 months of Card Membership.

The Membership Rewards points can be exchanged for gift cards, hotel stays, airline tickets, shopping, entertainment events, and statement credits. Redeeming the points for gift cards and airfare on the Amex Travel website have a rate of 40,000 points for $400 in value. The most valuable way to redeem your American Express points is to transfer them out to one of their many travel transfer partners.

Another thing to keep in mind is that this bonus is a “once-in-a-lifetime opportunity.” Some credit cards will allow you to claim welcome bonuses multiple times usually by waiting at least 2 years since the credit card was closed. Not so with the Platinum Card from American Express.

Travel Benefits

While the welcome offer isn’t anything to scoff at and the bonus points can nearly offset the annual fee for the first year of membership, the real reason to get the Amex Platinum is for the travel benefits. The $695 annual fee is going to make a lot of people hesitant to consider this card.

A person needs to do a fair amount of flying to justify this card. International travelers will not be charged a foreign transaction fee, although it might be difficult to find merchants abroad that accept American Express. Still, it is one of the best cards for international travel.

Here are the highlights of the other travel rewards:

Airport Lounge Access Program

Platinum cardholders have access to over 1,000 airport lounges across the world with the Amex Centurion lounge network, Delta Sky Club, Airspace Lounge, and Priority Pass Select (enrollment required). This card is a good option for travelers so they can receive access to lounges if they are flying an airline other than Delta.

Plus, American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide.

Other airline rewards cards might offer complimentary or discount passes to their lounge, but usually, the cardholder needs to be traveling on that same airline that day to receive access. With the Platinum card, travelers have more options when passing time for a layover in privacy and comfort. Plus, the Centurion lounges are the nicest domestic lounges available.

$200 Airline Fee Credit (Enrollment required)

American Express will reimburse The Platinum Card® from American Express cardholders for airline fee credits. Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card.

While the credit cannot be used to compensate for ticket purchases or upgrades, it can be used to compensate for checked bag fees or in-flight purchases such as food and movies.

To receive compensation, cardholders need to select a qualifying airline with Amex before incurring the additional fees.

Complimentary Membership for Global Entry or TSA PreCheck

Another nice travel perk for cardholders is the fact that Amex will reimburse the application fee for cardholders that apply for one of the two programs: Global Entry ($100) or TSA PreCheck ($85).

The first option helps expedite the process of passing through customs for international travelers. The latter option is ideal for domestic travelers that can skip the long security lines at check-in. They get to walk through a metal detector instead of the full-body scanner.

Each pass is good for five years before the cardholder needs to renew either program.

Boingo Wi-Fi

People do not want to burn up their wireless data plan during a layover. Therefore, cardholders have complimentary access to Boingo Wi-Fi with over 1,000,000 hotspots. For frequent travelers, this means they can still get business done when unexpected delays occur without incurring any additional expenses.

Gold Status (Enrollment required)

One final travel perk of the Amex Platinum is complimentary Gold access to the Hilton Honors and Marriott Bonvoy programs. These high-quality hotels are ideal for the typical Amex Platinum cardholder. This membership level would require a person to stay at least 20 stays (or 40 nights) for the Hilton Honors program without this card.

Complimentary membership might also mean not having to get another card to earn travel rewards as well.

Other rewards

No doubt about it, the travel rewards are the best feature of The Platinum Card® from American Express, making it one of the best rewards cards. But, cardholders also receive one reward point for every dollar spent on card purchases. For travel itineraries purchased through Amex Travel, cardholders will receive two points for every $1 spent.

For a premium rewards card, the points are not the highest payouts among reward cards. Many “no-frills” rewards cards offer a one-point-per-dollar-reward rate. Even so, American Express Membership Reward Points are some of the most valuable points among card programs.

Amex Concierge

Besides the ability to accumulate reward points on any purchase, cardholders also have access to American Express concierge service. While the internet has downplayed the popularity of these services, they are still very valuable.

When booking a rental car with Amex, cardholders can receive complimentary upgrades with most major rental car companies. International travelers who purchase a qualifying Business or First Class seat will receive a discounted price for their traveling companion.

How to Use the Amex Platinum $200 Hotel Credit

Cardmembers can receive up to $200 in annual statement credits on prepaid hotel stays within these portfolios:

Fine Hotels + Resorts^®
The Hotel Collection bookings made through American Express Travel

The Hotel Collection bookings require a minimum 2-night stay. When booking your reservation through either network, you must hit the “Pay Now” button instead of paying later to receive the statement credits.

You can book your hotel stay here and automatically receive a reimbursement. You don’t have to enroll in the special offer first.

Must Process Bookings by December 31

While some credit card benefits expire at the card renewal date, the up to $200 hotel credit expires at the end of the calendar year. Qualifying bookings must be processed before 11:59 p.m. Central Standard Time (CST) on December 31 to receive reimbursement.

You can use the primary Amex Platinum credit card or a secondary Platinum Card (consumer version only).

It can take up to 90 days to receive reimbursement for the qualifying charges.

Fine Hotels + Resorts Benefits

American Express mentions that cardholders can enjoy $600 on average in complimentary on-property benefits during their stay:

Daily breakfast for two
$100 experience credit
Guaranteed 4 p.m. check-out
12 p.m. check-in (when available)
Space-available room upgrades
Complimentary wi-fi

The Hotel Collection Benefits

When staying through The Hotel Collection from American Express Travel, these special on-site perks also apply:

$100 experience credit
Space-available room upgrades

Bottom Line on Amex Platinum Review

Despite the high annual fee, The Platinum Card from American Express is still a very credible travel rewards card. It is also one of the best cards for travel purchases. Frequent fliers should consider the card to maximize the various perks and justify the $695 annual fee. Despite the high fee, the Platinum card still offers more perks than most travel cards.