This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For an explanation of our Advertising Disclosure, visit this page.

The Platinum Card® from American Express is one of the best premium travel credit cards. Yet, the Amex Platinum card has started to face intense competition from Chase, Citi, and others. Numerous premium credit cards have launched over the past few years, offering valuable benefits that are popular with travelers. Because of this, many of these cards have added benefits and perks to help keep up popularity and also meet demands.

The Platinum Card underwent a makeover a few months ago and still offers some amazing benefits that are worth the $695 annual price tag (See Rates & Fees). Let’s take a look to see what you get.

Learn more: Johnny Jet Recommended Credit Cards    

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 can be worth it if you can maximize the numerous benefits.

Is the Amex Platinum Card Worth It?

With a $695 annual fee, you are probably wondering if the Amex Platinum Card is worth it. The answer is it can be, if you can use all of the benefits that come with this premium card. If you travel often (or want to) but also want to earn rewards on other everyday spending items, keep reading. While this is definitely a travel card, there are other perks that can be a bonus when you aren’t on the road.

This is how hard it is to get the Amex Platinum.

Annual benefits of the Amex Platinum

The welcome bonus is nice, but you’ll only receive it once. What convinces cardholders to renew year in and year out are the benefits that you receive each year.

Plus, The Platinum Card from American Express just went through some upgrades and changes that are worth noting.

$200 Airline Credit

Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline. You will receive $200 in airline credits each calendar year from The Platinum Card® from American Express (in the form of statement credits, enrollment required).

In order to use the airline credits, you’ll need to designate your preferred airline from among the list of:

  • Alaska Airlines
  • American Airlines
  • Delta Airlines
  • Frontier Airlines
  • Hawaiian Airlines
  • JetBlue Airways
  • Spirit Airlines
  • Southwest Airlines
  • United Airlines

Once you make your selection for the year, you cannot change it. However, you can change your selection once January 1st rolls around.

This can be one of the best miles cards because you can get these credits. Using up all of these bonus credits annually can make the Platinum Card worth it.

platinum card
Spa Therapies from Exhale and Shower Suites at Dallas/Fort Worth International Airport credit: thecenturionlounge.com

Lounge Access

With the American Express Platinum Card, you have access to airport lounges across the globe. There are 7 lounge programs included in the Global Lounge Collection benefit:

  • The Centurion Lounge (exclusive to American Express)
  • The International American Express lounges
  • Delta Sky Club (when flying Delta Airlines)
  • Priority Pass Select lounges (enrollment required)
  • Airspace Lounges
  • Escape Lounges
  • Plaza Premium

This perk makes the Platinum Card worth it as you can save quite a bit of money. Registration is required with Priority Pass before you can access one of their lounges. When you call to activate your American Express Platinum, speak with a customer service representative to enroll in Priority Pass. They’ll also answer questions about any of the other benefits of your Amex Platinum.

Plus, American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. Now there are even more places your Platinum Card® can get you complimentary entry and exclusive perks.

Terms apply. Enrollment may be required.

Digital Entertainment Credit

There’s also a new digital entertainment credit. Cardholders can get up to $20 in statement credits each month when you pay for eligible purchases with The Platinum Card® from American Express at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.

Equinox Credit

Another exciting new benefit is the ability for cardholders to enjoy up to $25 back each month on select Equinox memberships when you pay with your Platinum Card®. This amounts to up to $300 annually. Enrollment required. 

$200 Annual Hotel Credit

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

This is one of the underused benefits of the American Express Platinum. But savvy travelers know that the Fine Hotels & Resorts Collection offers tremendous benefits at over 1,000 hotels and resorts around the world.

The benefits include:

  • Room upgrade upon arrival, when available
  • Daily breakfast for two people
  • Guaranteed 4 pm late checkout
  • Noon check-in, when available
  • Complimentary hotel WiFi
  • Unique amenity valued at $100

The amenity will often be a food & beverage or spa credit.

When comparing hotel prices for your upcoming vacation, don’t forget to take a look to see what Fine Hotels & Resorts is offering. Even if you pay a little more per night, the value of free breakfast and $100 amenity will often tilt the decision towards Fine Hotels & Resorts.

Terms apply. Enrollment may be required.

Related: The Best Hotel Credit Cards

Global Dining Access by Resy

Cardholders can enjoy access to the Global Dining Access program by Resy. This gives cardholders the ability to access exclusive reservations at some of the world’s top restaurants. They can also enjoy access to premium events and other perks like priority notify and VIP status.

Other benefits of the Amex Platinum

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. Cardholders also earn 5x points on prepaid hotel bookings through amextravel.com.

When traveling more than 100 miles from home, rest easy knowing that the Amex Platinum offers Premium Global Assist Hotline. These medical and legal professionals assist with medical, legal, financial, and select other emergency and coordination services. Some examples of these services include replacing a lost or stolen passport, prescription replacements, missing luggage, and cash wires.

There are no foreign transaction fees but the annual fee is $695 (See Rates & Fees), which can be offset with the perks that are valued at over $1,400. 

Get the full details and learn more in our in-depth The Platinum Card from American Express review.

Global Entry or TSA PreCheck Reimbursement

Frequent travelers know that waiting in line is not the best use of their time. That’s why Global Entry or TSA PreCheck is crucial to getting through airport security and customs at domestic airports.

With the Amex Platinum, you’ll receive up to $100 reimbursement every 4 years to enroll in either Global Entry or TSA PreCheck.

In addition to enjoying TSA PreCheck or Global Entry access, cardholders can also enjoy CLEAR perks. Cardholders can use their Card and get up to $189 back per year on their CLEAR® membership. Terms apply.

Other border security programs, such as NEXUS, SENTRI, and FAST, are not included. Additional cardholders also have access to this reimbursement benefit.

Does the Amex Platinum Card belong in your wallet?

In conclusion, is the Platinum Card worth it? Well, as you can see, the American Express Platinum offers a tremendous value that outweighs the premium annual fee. If you are a frequent traveler, The Platinum Card® from American Express is a must-have. Plus the card benefits can be extended to additional cardholders for a fraction of the price.

Learn more: Johnny Jet Recommended Credit Cards  

Related Articles:

For rates and fees of The Platinum Card® from American Express, please click here.

The comments on this page are not provided, reviewed, or otherwise approved by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.

0 Comments On "Is the Amex Platinum Card Worth the Annual Fee?"

    Leave a Reply

    Required fields are marked *