The Platinum Card® from American Express Review
The best card for luxury travel benefits.
By Sebastian F.|Updated on 8/18/2023Back
The Platinum Card® from American Express is one of the best travel cards in the world. Although there is a hefty annual fee, you also get more than $1,400 in credits which might help offset this.
Terms apply to Amex offers and benefits. Rates & Fees
The Platinum Card® from American Express earns Membership Reward (MR) points, including:
- 5x on Flights booked directly with airlines or through Amex Travel (on up to $500,000 spent per calendar year)
- 5x on Prepaid Hotels booked on AmexTravel.com
- 1x on other purchases
The Platinum Card® from American Express Calculator
Cardonomics calculates the expected value of the The Platinum Card® from American Express based on the information you provide. The expected value is calculated based on the dollar value you input into the calculator.
The default figures in the calculator are just an example, so you should enter your own information for more accurate results. The methodology for this calculator is explained at the bottom of the post.
The Platinum Card® from American Express Intro Offer
Are you eligible for the intro offer? You are not eligible if you have or have had the card (even without getting the bonus).
Are you able to complete $8,000 of spend in the first 6 months?
The current public offer is 80,000 MR. What bonus are you considering?
points earned from intro offer:0
Credits: How Do You Value Them?
The Platinum Card® from American Express annual fee is $695.
Total value of credits: $1,129
Other Perks and Benefits: How do you value them?
Value of other perks and benefits:
Point Multipliers: Category Spend
Yearly points earned from spend breakdown:
How do you plan on redeeming points?
American Express gives you many ways to redeem your points. Here are some common examples:
- Points are denoted as CPP = "cents per point"
Given how you value points...
Expected Value of Points
(Intro offer + credits + spend + benefits - annual fee)
The calculator's results are determined by several factors, including your ability to meet the minimum spending requirement to earn the welcome offer, spending habits in different categories, point redemption strategy, and how much relative value you place on other benefits.
The "Years" in the calculator refer to the cardmember year, which begins when you are approved for the card. The first year of membership is the first 12 months after approval, and the second year is the 12 months following that.
The Platinum Card® from American Express is the go-to travel card for many people, given the protections and multipliers. It also acts as a card for airline lounge access and travel perks.
With the card, you get access to:
- Centurion Lounges (within 3 hours of a departing flight)
- Delta Sky Clubs (when flying Delta)
- Priority Pass. Enrollment required.
- Other partner lounges (Plaza Premium, Escape Lounge, etc.)
- And many more
In terms of travel perks, a few key ones include:
- Marriott Bonvoy Gold status. Enrollment required.
- Hilton Gold status. Enrollment required.
- Access to the Fine Hotels and Resorts travel portal
You also get many credits that help you offset the annual fee, making the effective cost more reasonable (or maybe even covering it entirely!)
$200 Hotel Credit
You get up to $200 back via statement credits each calendar year when you book prepaid Fine Hotels + Resorts (FHR) or The Hotel Collection bookings through Amex Travel using The Platinum Card® from American Express.
FHR only requires a one-night stay, while the Hotel Collection requires a minimum of 2 nights.
Some cities are prohibitively expensive, so I would look into destinations like Las Vegas.
$240 Digital Entertainment Credit
You get up to $20 back per month when you enroll and make eligible purchases on one or more of the following:
- The Disney Bundle
- The New York Times
$155 Walmart+ Credit
When you use The Platinum Card® from American Express to pay for a monthly Walmart+ membership, you’ll receive a statement credit that covers the cost of the entire membership each month. Enrollment required.
$200 Uber Cash
Get up to $15 each month when you ride and dine Uber or UberEats. Enrollment required.
$200 Airline Fee Credit
Get up to $200 in statement credits per calendar year for airline incidentals after selecting a qualifying airline. Enrollment required. These include:
- Alaska Airlines
- American Airlines
- Delta Airlines
- Frontier Airlines
- Hawaiian Airlines
- JetBlue Airways
- Spirit Airlines
- Southwest Airlines
- United Airlines
$300 with Equinox
Get up to $25 as a monthly statement credit on Equinox+ (a digital fitness app with on-demand and live classes) or an eligible Equinox club membership. Enrollment required.
$100 Shop Saks with The Platinum Card® from American Express
Get up to $100 as statement credits for purchases at Saks Fifth Avenue or saks.com. You get up to $50 for purchases from: (i) January to June and (ii) July through December. Enrollment required.
$189 with CLEAR®
Get up to $189 in statement credits per year that you pay for CLEAR®. Enrollment required.
The Platinum Card® from American Express earns Membership Reward (MR) points which are great for aspirational travel – think first and business class – especially with Amex’s wide arrange of partners, including options like Etihad, Emirates, Singapore, and ANA.
If redeeming points as a statement credit – effectively cash back – you get 0.6 cents per point (CPP) with the card by itself. 5x MR * 0.6 CPP = 3% cash back.
If The Platinum Card® from American Express sounds good, but you don’t like the credits, then consider the Chase Sapphire Reserve®, which has multipliers for travel, lounge access via Priority Pass, and multipliers that are more well-rounded.
If you want a more straightforward option, the Capital One Venture X Rewards Credit Card earns 2x on everything and includes Priority Pass and access to Capital One Lounges and Plaza Premium Lounges.
Chase Sapphire Reserve®
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®
The Platinum Card® from American Express is one of the best travel cards, especially if you can use the many credits. For many, this becomes a highly subsidized lounge access and travel perks card.