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The Platinum Card® from American Express

The Platinum Card<sup>®</sup> from American Express

The Platinum Card® from American Express

Welcome Offer
Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.
Rewards
Earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.
Extra Perks
Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
Edited by
Julie Sherrier
Reviewed by
Brett Holzhauer
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Who is The Platinum Card® from American Express best for?

The Platinum Card® from American Express is often touted as one of the best rewards cards for frequent travelers. Cardholders receive extensive travel benefits that cover everything from lounge access to baggage insurance, airline fee statement credits, hotel elite status and much more.

The rewards program allows flexibility when redeeming Membership Rewards® points in a variety of ways, from booking new travel to transferring points on a 1:1 rate with many partner frequent flyer programs.

This card has a high $695 annual fee, so those who don’t travel often enough to take advantage of all of the card’s benefits may be better off with a no or low annual fee travel card or even a cashback card. We break down the pros, cons, what we like and what to watch out for with the The Platinum Card® from American Express and whether this card is the best choice for you.

To see rates & fees for The Platinum Card® from American Express please click here

The Platinum Card® from American Express overview

    • Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.
    • Plus, earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.
    • 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.
    • $200 Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.
    • $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Peacock, Audible, SiriusXM, and The New York Times. Enrollment required.
    • $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax.
    • 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.
    • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline.
    • $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only.
    • $300 Equinox Credit: Get up to $25 back each month on select Equinox memberships when you pay with your Platinum Card®. Enrollment required.
    • $179 CLEAR® Credit: Use your Card and get up to $179 back per year on your CLEAR® membership.
    • $695 annual fee.
    • Terms Apply.
  • Credit needed:
    720 850
    Excellent/Good
  • Uber Rides with Platinum™ credit of up to $200 per year
  • Annual Saks Fifth Avenue credit of up to $100
  • Equinox credit of up to $300 per year
  • Digital entertainment credit of up to $240 per year (with participating partners)
  • Up to $200 back each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel
  • Car rental loss and damage insurance
  • Premium car rental privileges
  • Trip cancellation and interruption insurance
  • Return protection
  • Purchase protection
  • Extended warranty
  • Premium Global Assist® Hotline
  • 24/7 Platinum Card® Concierge services
  • By Invitation Only® access
  • Automatic Marriott Bonvoy™ Gold Elite status (enrollment required)
  • Automatic Hilton Honors Gold status (enrollment required)
  • Foreign transaction fees: None

Intro Purchase APR

N/A

Regular Purchase APR

See Pay Over Time APR

Intro BT APR

N/A

Regular BT APR

N/A

Annual Fee

$695

Cash Advance Fee

Either $10 or 5% of the amount of each cash advance, whichever is greater.

Foreign Transaction Fee

None

Balance Transfer Fee

N/A

Pros and cons of The Platinum Card® from American Express

Pros

  • Welcome offer
  • Rewards rate
  • Travel credits
  • Extensive travel benefits

Cons

  • Annual fee
  • May have to pay balance in full
  • Excellent/Good credit required
  • Low rewards earning rate on non-travel purchases

What we like about The Platinum Card® from American Express

  • Welcome offer

    Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. If you use your points to book a flight through American Express Travel, that’s a $1,000 value.

  • Rewards rate on travel purchases

    The Platinum Card® from American Express offers 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. Terms apply. Plus, for a limited time, earn 10X points at U.S. gas stations and U.S. supermarkets.

  • Travel credits

    The Platinum Card® from American Express offers valuable travel credits, including up to $200 annually for incidental airline fees (you must select one qualifying airline), up to $200 annually in Uber credits (U.S. only), up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel, up to $179 annually toward a CLEAR membership to help you move through security faster (at select U.S. airports and stadiums), and a credit of up to $100 to cover your Global Entry (every 4 years) or TSA Precheck (every 4.5 years) application fee. Additionally, get a $100 onsite credit for qualifying activities, like dining and spa treatments, when you stay a minimum of two nights with The Hotel Collection through American Express Travel. Enrollment required.

  • Hotel elite status

    The Platinum Card® from American Express cardholders qualify for Marriott Bonvoy Gold Elite Status as well as Hilton Honors Gold Status (enrollment required).

  • Global airport lounge access

    The Platinum Card® from American Express offers card members access to The Global Lounge Collection, which includes more than 1,300 lounges in over 140 countries, as well as access to American Express Centurion lounges.

  • Wellness and entertainment credits

    Whether you’re ready for a workout or eager to kick back with some digital entertainment, the Platinum Card® from American Express has credits that can help. Get up to $300 back a year toward an Equinox membership when you use the link provided by Amex to enroll. And get up to $240 back a year (enrollment required) toward eligible digital entertainment purchases with Peacock, Audible, SiriusXM and the New  York Times.

What to look out for with The Platinum Card® from American Express

  • Annual fee

    The Platinum Card® from American Express charges an annual fee of $695. Regardless of the card’s extensive benefits, that is a hefty bill to simply have a credit card.

    However, it can be made back fairly quickly by taking advantage of the card’s many benefits and credits.

  • You may have to pay your balance in full each month

    Unlike typical credit cards, The Platinum Card® from American Express only allows you to carry a balance for certain charges — but not all.

Alternate premium travel card to The Platinum Card® from American Express

Comparing it to the Chase Sapphire Reserve®

Disclosures |
Chase Sapphire Reserve®
Chase Sapphire Reserve®
on Chase's secure site
N/A
16.99%-23.99% Variable
$550
5X total points on air travel and 10X total points on hotels
  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year. Through December 31, 2021, gas station & grocery store purchases will also count towards earning your Travel Credit
  • Earn 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $750 toward travel
  • With Pay Yourself Back℠, your points are worth 50% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
750 850

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

 

These two great cards have been battling for supremacy since the Chase Sapphire Reserve® debuted in 2016. The Chase Sapphire Reserve® has a slight advantage by charging a lower annual fe of $550.

The Platinum Card® from American Express offers a more travel centric rewards-earning program: 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. Terms apply.

The Chase Sapphire Reserve® focuses on travel and dining with 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases.

While these cards offer a few identical benefits, such as an up to $100 statement credit for Global Entry or TSA Precheck and a 1:1 points transfer to select frequent flyer programs, they also have benefits that are unique to each individual card, shown below.

Platinum card from American ExpressChase Sapphire Reserve
Up to $240 digital entertainment credit per year for eligible transactions with partners such as Peacock and the New York Times (enrollment required)Up to $300 annual travel credit
Up to $200 in Uber statement credits per year in the U.S. (enrollment required)10x points on Lyft rides through March 2022
Up to $100 annual statement credit to Saks Fifth Avenue or saks.com (enrollment required)Up to $120 in statement credits on DoorDash purchases through December 2021
Access to the Global Lounge Collection over 1,200 airport lounges (including Priority Pass) (enrollment required)Priority Pass Select membership
Complimentary benefits at Fine Hotels and Resorts (enrollment required)Complimentary benefits at The Luxury Hotel and Resort Collection
$175/year to add up to three authorized users$75/year for each authorized user

To see rates & fees for The Platinum Card® from American Express please click here

Compare The Platinum Card® from American Express to similar cards

Comparison of four different credit cards
The Platinum Card<sup>®</sup> from American Express Chase Sapphire Reserve<sup>®</sup> Citi<sup>®</sup> / AAdvantage<sup>®</sup> Executive World Elite Mastercard<sup>®</sup> Delta SkyMiles<sup>®</sup> Reserve American Express Card
The Platinum Card® from American Express Chase Sapphire Reserve® Citi® / AAdvantage® Executive World Elite Mastercard® Delta SkyMiles® Reserve American Express Card
Apply Now
on American Express's secure site
Terms Apply
Apply Now
on Chase's secure site
Review Coming Soon Apply Now
on American Express's secure site
Terms Apply
Annual Fee
$695 $550 $450 $550
Welcome Offer
100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership. Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Earn 50,000 American Airlines AAdvantage® bonus miles after spending $5,000 in purchases within the first 3 months of account opening Limited Time Offer: Earn 80,000 Bonus Miles and 20,000 Medallion® Qualification Miles (MQMs) after you spend $5,000 in purchases on your new Card in your first 3 months. Offer expires 11/10/2021.
Rewards Rate
5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel on up to $500,000 on these purchases per calendar year and 5X Membership Rewards® points on prepaid hotels booked with American Express Travel. Terms apply. 5X total points on air travel and 10X total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3X points on other travel and dining & 1 point per $1 spent on all other purchases Earn 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases & 1 AAdvantage® mile for every $1 spent on other purchases Earn 3X Miles on Delta purchases. Earn 1X Mile on all other eligible purchases.
Intro Purchase APR
N/A N/A N/A N/A
Regular APR
See Pay Over Time APR 16.99%-23.99% Variable 15.99% - 24.99% (Variable) 15.74%-24.74% Variable
Recommended Credit
Excellent/Good Excellent Excellent/Good Excellent/Good
Card Details
The Platinum Card® from American Express Chase Sapphire Reserve® Additional card details unavailable Delta SkyMiles® Reserve American Express Card

Is The Platinum Card® from American Express right for you?

Each of these cards have their own rewards program where you can transfer your rewards to numerous airline and hotel travel partners. The advantage is that you have flexibility to where you can redeem your points, instead of being pigeonholed into points that can only be used with one brand. Ultimately, the choice comes down to a personal preference for Chase Ultimate Rewards or American Express Membership Rewards or whether you’ll take full advantage of the different benefits offered by each card.

Apply Now
on American Express's secure site
Terms Apply