American Express Platinum Card Review: Is the Luxury Travel Card Worth the Annual Fee?

At a Glance: American Express Platinum Card

Annual Fee: $695
Welcome Bonus: Typically offered as a large Membership Rewards points bonus after meeting a spending requirement (offers vary)
Points Program: American Express Membership Rewards
Best For: Frequent travelers who value comfort, status, and premium perks

Key Highlights:

• Extensive airport lounge access worldwide
  
  
• High earning rate on flights booked directly with airlines or through Amex Travel
  
  
• Annual statement credits that can offset the annual fee
  
  
• Hotel elite status with major brands
  
  
• Premium travel protections and concierge services
  
  

What Makes the Amex Platinum Stand Out?

The Amex Platinum isn’t about everyday spending multipliers—it’s about the experience. This card is designed to make travel smoother, more comfortable, and more rewarding.

Airport Lounge Access (One of the Best in the Industry)

Cardholders receive access to a broad network of airport lounges, including premium lounges that are often quieter, better designed, and more comfortable than standard terminals. If you travel multiple times a year, this benefit alone can be a game changer—especially during long layovers or delayed flights.

You’ll typically get access to:

• Centurion Lounges
  
  
• Priority Pass lounges
  
  
• Delta Sky Club lounges when flying Delta
  
  
• Select international partner lounges
  
  

For frequent flyers, this can translate into hundreds—or even thousands—of dollars in value annually.

Earning Points with the Amex Platinum

The American Express Platinum Card earns Membership Rewards points, one of the most flexible and valuable points currencies available.

Points Earning Structure

• 5x points on flights booked directly with airlines or through Amex Travel
  
  
• 5x points on prepaid hotels booked through Amex Travel
  
  
• 1x point on most other purchases
  
  

This card shines when it comes to airfare, but it’s not designed for maximizing everyday categories like groceries or gas. Many people pair it with another card that earns more on daily spending.

Understanding Membership Rewards Points

Membership Rewards points are valuable because of their flexibility. You can use them in several ways, including:

• Transferring points to airline and hotel partners
  
  
• Booking travel directly through Amex Travel
  
  
• Redeeming for statement credits or gift cards (usually lower value)
  
  

The highest value typically comes from transferring points to airline partners for premium cabin flights, especially international business or first class.

Statement Credits: How the Annual Fee Gets Offset

At first glance, the $695 annual fee can feel intimidating. However, the Amex Platinum offers a long list of statement credits that can significantly reduce the real cost of holding the card.

Common Statement Credits Include:

• Airline fee credit (for incidental charges like seat selection or baggage)
  
  
• Hotel credit when booking through Amex Fine Hotels + Resorts or The Hotel Collection
  
  
• Digital entertainment credit (select streaming and media services)
  
  
• Uber Cash for rides or Uber Eats
  
  
• Clear® credit for expedited airport security
  
  
• Saks Fifth Avenue credit
  
  

If you already spend in these areas, the credits can easily outweigh the annual fee.

Hotel Benefits and Elite Status

The Amex Platinum Card includes automatic elite status with select hotel programs, which can enhance your stays without requiring frequent hotel nights.

Typical Perks May Include:

• Room upgrades when available
  
  
• Late checkout
  
  
• Bonus points on paid stays
  
  
• Complimentary amenities
  
  

You also gain access to premium hotel booking programs that offer perks like daily breakfast for two, room upgrades, and property credits—benefits that can quickly add up during longer stays.

Travel Protections and Purchase Benefits

Beyond luxury perks, the Amex Platinum includes solid protections that add peace of mind:

• Trip delay and cancellation coverage
  
  
• Baggage insurance
  
  
• Purchase protection
  
  
• Extended warranty on eligible items
  
  

These benefits are especially valuable when booking expensive travel or making larger purchases.

Who Should Get the Amex Platinum Card?

This card is best suited for:

• Frequent travelers who fly several times per year
  
  
• People who value lounge access, convenience, and premium experiences
  
  
• Travelers who can naturally use the statement credits
  
  
• Those who already earn or plan to earn Membership Rewards points strategically
  
  

It may not be ideal if:

• You rarely travel
  
  
• You want strong rewards on everyday spending
  
  
• You won’t use the included credits
  
  

How the Amex Platinum Compares to Other Premium Cards

Compared to other luxury travel cards, the Amex Platinum focuses less on flexible everyday earning and more on premium travel benefits. If airport lounges, hotel perks, and elite-style treatment matter most to you, it’s hard to beat.

Many experienced points users pair the Amex Platinum with another card that earns more on dining or groceries to create a well-rounded points strategy.