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You can call the reconsideration line at 800-567-1083 to request American Express to review their decision.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.The Platinum Card® from American Express is one of the most coveted luxury cards among frequent travelers — and for good reason.
This card provides one of the best earning rates on eligible travel purchases, offers an extensive amount of travel and shopping credits and provides several types of travel insurance2. It also offers airport lounge access, hotel elite status (enrollment required) and much more, making it a great asset for serious travelers. And while it does have a high $695 annual fee, its benefits — including more than $1,000 worth of credits — can make it more than worth its annual fee each year.
How much value can you get?
That said, if you don’t travel enough to take advantage of all of the card’s benefits, you may be better off with a low or no annual fee travel card or even a cash back card.
| Credit Cards | Our Ratings | Welcome Offer | Rewards Rate | Annual Fee | |
|---|---|---|---|---|---|
The Platinum Card® from American Express
|
As high as 175,000 points
You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
| 5X points
| $695 | ||
Chase Sapphire Reserve®*
|
100,000 points
Earn 100,000 bonus points + $500 Chase Travel℠ promo credit after you spend $5,000 on purchases in the first 3 months from account opening.
| 1X - 8X points
| $795 | ||
Capital One Venture X Rewards Credit Card
|
75,000 miles
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
| 2X - 10X miles
| $395 | ||
Delta SkyMiles® Reserve American Express Card
|
100,000 miles
Earn 100,000 Bonus Miles after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership.
| 1X - 3X miles
| $650 |
Generous welcome offer
You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
If you use those points to book a flight through American Express Travel, that’s a $1,750 value — making this one of the most valuable welcome offers currently available among travel cards. Plus, we estimate that you can increase the value of your points from around 1 cent each when redeeming them through American Express Travel to around 2.2 cents each by transferring them to travel partners, depending on when and where you redeem them.
High rewards rate on travel purchases
The Platinum Card® from American Express lets you earn 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.
Credits worth more than $1,000
The Platinum Card® from American Express offers valuable travel credits, which can help you cover the cost of the annual fee, including:
These credits add up to more than $1,000 — which can cover the high annual fee of the card if you take advantage of them. Just be aware that not all of them are applied automatically, and you may have to jump through a few hoops to use them.
For example, the airline fee credit requires you to pick a qualifying airline before you can use the credit. In addition, the hotel credit must be used on bookings for American Express’s Fine Hotels + Resorts® or The Hotel Collection through American Express Travel — and it requires a minimum two-night stay.
Flexible redemption options
There are many ways you can use your American Express Membership Rewards®. The most valuable way to redeem them is by transferring them to one of American Express’s travel partner loyalty programs:
Depending on when and where you transfer points, they could be worth around 2.2 cents each — which is extremely valuable.
Some other ways you could redeem them include claiming statement credits, booking travel through American Express’s travel portal, using points at checkout in certain stores, selecting gift cards and more.
Hotel elite status
Cardholders qualify for Marriott Bonvoy® Gold Elite status, which allows you to receive upgrades to enhanced rooms upon check-in at select properties booked with a Qualifying Rate (enrollment required).
You’ll also be eligible for Hilton Honors™ Gold status (enrollment required), which lets you earn space-available room upgrades, continental breakfast or daily food and beverage credits and more.
Global airport lounge access
The Platinum Card® from American Express is our pick for the best card with airport lounge access — and it offers eligible card members access to The Global Lounge Collection, which includes more than 1,400 lounges worldwide. These includes the Centurion® Lounges from American Express, which have plenty of services and amenities, including:
On top of access to Centurion® Lounges, The Global Lounge Collection offers access to these groups of lounges, which are widely available at airports both in the U.S. and internationally:
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.
However, The Platinum Card® from American Express annual fee can be worth it if you take advantage of the card’s many benefits and credits. Even if you don’t use every credit, you can make up a good chunk of the cost by redeeming valuable Membership Rewards to transfer partners and using perks like Global Entry/TSA PreCheck® and airport lounge access.
If, however, you’re looking for a card that comes with valuable transfer partners and flexible rewards but a lower annual fee, the Capital One Venture X Rewards Credit Card (see rates & fees) could be a better fit. It has similar benefits and protections, albeit with fewer credits.
You may have to pay your balance in full each month
Unlike typical cards, The Platinum Card® from American Express only allows you to carry a balance for certain charges — but not all. The card offers a Pay Over Time feature that lets you carry a balance, but limits how much your balance can be. Not all purchases may be eligible for this program.
Credits can be hard to keep track of
Although The Platinum Card® from American Express has valuable credits to take advantage of, keeping track of them can be overwhelming. Different credits have different rules for qualification and redemption. Some credits will require enrollment, while others are automatically applied. You don’t have to use every credit to make the card worth it, but it can be a hassle for those trying to redeem many of its credits.
Low rewards rate on non-travel purchases
The Platinum Card® from American Express earns 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.
But it doesn’t include other popular categories like dining or groceries, which may make it hard to earn points on everyday purchases outside of travel.
Depending on your spending habits, you may be able to earn points more quickly with a travel card like the Citi Strata Premier℠ Card, which offers high rewards rates on common spending categories as well as travel.
Lounge experiences can vary
The card offers access to Centurion Lounges and Delta Sky Club lounges when flying eligible Delta flights (subject to visit limitations) — however, lounge users report occasional overcrowding on forums.
One Reddit user shared their overcrowding experience at a Centurion Lounge at Houston’s George Bush Intercontinental Airport (IAH): “Flew out of IAH a couple weeks ago in the afternoon. Had to wait for a seat, it was completely full. Line to get in during my whole visit.”
Delta has tried limiting Sky Club access by raising prices. American Express has also limited lounge access for The Platinum Card® from American Express cardholders by excluding Basic Economy flyers from Sky Club. Lounges aren’t always necessarily overcrowded, but your experience may vary depending on the time and airport.
International acceptance may be limited
American Express is accepted by 99% of U.S. merchants, according to a 2023 Nilson Report. However, its availability abroad can be limited. If you’re traveling internationally, you should bring a Visa or Mastercard with you, which are more commonly accepted.
Additional Chase Sapphire Reserve® travel benefits include:
Tip: You can capitalize on The Platinum Card® from American Express‘s Uber savings with the American Express® Gold Card. The American Express® Gold Card offers Uber Cash of up to $120 annually (up to $10 monthly) for U.S. rides and eats,* which you can stack on top of savings from The Platinum Card® from American Express. This can save you a total of up to $320 per year combined.
You’ll earn 2X Miles per dollar on every purchase, every day; 10X Miles per dollar on hotels and rental cars booked through Capital One Travel; 5X Miles per dollar on flights and vacation rentals booked through Capital One Travel. You’ll also get a generous welcome offer: Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.
On the other hand, it doesn’t have as many travel benefits as The Platinum Card® from American Express. It offers a $300 annual travel credit for bookings through Capital One Travel and a Global Entry/TSA PreCheck® credit of up to $120 — but The Platinum Card® from American Express has a lot more credits available.
The card lets you earn 3X Miles on Delta purchases. Earn 1X Mile on all other eligible purchases. There’s also a big welcome offer: Earn 100,000 Bonus Miles after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership.
Not surprisingly, this card comes with a ton of Delta benefits, including:
However, you can only use most of the card’s benefits with Delta Air Lines, which means it’s only worth it if you fly Delta frequently. If you’re looking for more flexibility, The Platinum Card® from American Express is the better choice.
The Platinum Card® from American Express is worth it if you take advantage of the majority of its benefits and credits. So if you already love utilizing airport lounges, making in-flight purchases and staying in Marriott and Hilton hotels and resorts, this card will likely be a good fit for your lifestyle.
That said, this card isn’t worth it if its offerings aren’t already a part of your spending habits. You won’t save as much money if you get it just to start using Uber Eats more, for example.
But if you’re looking for a premium travel card that offers even more value (and you don’t mind paying a larger annual fee), the Chase Sapphire Reserve® might be a better option.
You can call the reconsideration line at 800-567-1083 to request American Express to review their decision.
The Platinum Card® from American Express doesn’t have a traditional preset spending limit. However, this doesn’t mean that there’s no limit at all. Your limit is flexible and will ultimately depend on factors like your purchase, payment and credit history.
You can downgrade The Platinum Card® from American Express to cards like the American Express® Gold Card or American Express® Green Card. However, it may be best to cancel your card and submit a new application so that you can earn the card’s welcome offer.
It’s recommended that you have good / excellent credit to apply for The Platinum Card® from American Express. However, keep in mind that even with an excellent credit score, it’s never a guarantee that you’ll be accepted for a card. Check to see if you’re preapproved for the card on the American Express website.
To see rates & fees for American Express cards mentioned on this page, visit the links provided below:
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply
The information related to the Chase Sapphire Reserve® and American Express® Green Card has been independently collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.