The Platinum Card® from American Express

Quick Snapshot

• Annual Fee: $895
• APR: 21.24%-29.99% variable
• Rewards: 5X on flights and prepaid hotels via Amex Travel, 1X on everything else
• Bonus: Up to 175,000 Membership Rewards points after spending $12,000 in the first 6 months (offer is personalized)
• Best For: Frequent travelers who maximize lounge access, airline credits, and premium travel perks
• Credit Needed: Excellent (740+)

Overview

The Platinum Card from American Express is the benchmark for premium travel cards in the United States. It earns 5X Membership Rewards points on flights booked directly with airlines or through Amex Travel, and 5X on prepaid hotels booked through Amex Travel. Everything else earns 1X. The welcome offer runs as high as 175,000 points and can be worth $1,750 to $3,500 depending on how you redeem, though Amex personalizes it — the offer you see on application may be lower, and lifetime-language rules can make you ineligible entirely.

The real draw is the suite of credits, which American Express rebuilt in its 2025 refresh when the fee rose from $695 to $895. The current stack includes up to $600 in hotel credits, up to $400 in Resy dining credits, up to $300 in digital entertainment credits, up to $300 in Equinox credits, up to $219 in CLEAR+ credits, up to $200 in airline fee credits, up to $200 in Uber Cash, up to $200 in Oura Ring credits, up to $155 in Walmart+ credits and up to $120 in Uber One credits. Add Centurion Lounge access, Priority Pass Select membership, Global Entry or TSA PreCheck credit, Hilton and Marriott Gold status and extensive travel insurance, and the card clears its fee for anyone who actually uses the benefits — and only for them.

The Platinum Card shines brightest for travelers who fly frequently, value lounge access, and can take advantage of the annual statement credits. If you redeem Membership Rewards through transfer partners like Delta, ANA, or Singapore Airlines, each point can be worth well above 1 cent. For non-travelers, the annual fee is difficult to offset, but for the right cardholder, the value proposition is unmatched.

APR Breakdown

• Purchase APR: 21.24%-29.99% variable
• Balance Transfer APR: N/A
• Cash Advance APR: 29.99% variable
• Penalty APR: None

Note: This is a charge card for most purchases, so balances are generally due in full each month. The variable APR applies to Pay Over Time eligible purchases. There is no balance transfer option.

Benefits Overview

Airport Lounge Access

• Complimentary access to American Express Centurion Lounges worldwide
• Priority Pass Select membership with unlimited visits
• Access to Delta Sky Clubs when flying Delta
• Plaza Premium Lounge access
• Lufthansa and Escape Lounge access

Annual Statement Credits

• Up to $600 hotel credit on prepaid bookings through Amex Travel
• Up to $400 Resy dining credit
• Up to $300 digital entertainment credit
• Up to $300 Equinox credit
• Up to $219 CLEAR+ credit
• Up to $200 airline fee credit for incidentals on one selected airline
• Up to $200 in Uber Cash annually
• Up to $200 Oura Ring credit
• Up to $155 Walmart+ credit
• Up to $120 Uber One credit
• The Hotel Collection fee credit on eligible stays

These replaced the pre-2025 credit set (the $200 hotel, $100 Saks and smaller Uber structure) when the annual fee moved to $895. Most are use-it-or-lose-it and several reset monthly or semi-annually, so the headline totals only materialise if you use them on schedule.

Travel Protections and Status

• Global Entry or TSA PreCheck application fee credit every 4.5 years
• Complimentary Hilton Honors Gold status
• Complimentary Marriott Bonvoy Gold Elite status
• Trip delay insurance, trip cancellation insurance, and baggage insurance
• Car rental loss and damage insurance
• No foreign transaction fees

Rewards & Points

• 5X Membership Rewards points on flights booked directly with airlines or through Amex Travel
• 5X Membership Rewards points on prepaid hotels booked through Amex Travel
• 1X Membership Rewards points on all other eligible purchases

Membership Rewards points transfer at 1:1 to 20+ airline and hotel partners including Delta SkyMiles, British Airways Avios, ANA Mileage Club, Singapore KrisFlyer, Hilton Honors (1:2), and Marriott Bonvoy (1:1). Points are also redeemable through the Amex Travel portal at 1 cent per point or higher with Pay With Points promotions.

Welcome Bonus

Amex advertises an offer as high as 175,000 Membership Rewards points after spending $12,000 on eligible purchases within the first 6 months of card membership. At a conservative 1 cent per point that is $1,750; transfers to airline partners can push it past $3,000. Two caveats matter: the offer is personalized, so check your own eligibility before applying, and the $12,000 spend requirement is one of the highest of any consumer card.

Fees Summary

• Annual Fee: $895
• Balance Transfer Fee: N/A
• Cash Advance Fee: N/A (charge card)
• Foreign Transaction Fee: $0
• Late Payment Fee: Up to $40
• Additional Card Fee: $195 for up to 3 additional Platinum cards; $0 for Gold cards added to account

Who This Card Is Best For

Ideal For

• Frequent flyers who can take advantage of 5X on flights and extensive lounge access worldwide
• Luxury travelers who value Centurion Lounges, hotel status, and premium travel insurance
• Credit maximizers who will use every annual credit to offset the $895 fee
• Points enthusiasts who transfer Membership Rewards to airline partners for outsized value
• Business travelers who fly often enough to justify lounge access and airline fee credits

Not Good For

• Infrequent travelers who cannot use enough credits and perks to justify the $895 annual fee
• Everyday spenders who want bonus categories on groceries, dining, or gas
• Balance carriers since this is primarily a charge card and does not offer traditional revolving credit
• Budget cardholders who prefer a no-annual-fee card with simpler rewards

Key Pros & Cons

Pros

• Welcome offer as high as 175,000 points, among the largest available for personal cards
• 5X earning rate on flights and prepaid hotels through Amex Travel
• Centurion Lounge access is consistently rated the best domestic airport lounge network
• Priority Pass Select membership provides worldwide lounge coverage
• Over $1,500 in annual statement credits across airline, hotel, Uber, and more
• Membership Rewards transfer to 20+ airline and hotel partners for outsized value
• Complimentary Hilton Gold and Marriott Gold elite status
• Global Entry or TSA PreCheck credit every 4.5 years
• No foreign transaction fees
• Extensive travel insurance including trip delay, cancellation, and car rental coverage

Cons

• $895 annual fee is one of the highest for personal credit cards
• Only earns 1X on non-travel purchases, making it poor for everyday spending
• Many credits require specific merchants or portals to use
• Charge card structure means most balances must be paid in full each month
• No balance transfer capability
• $195 fee for each additional Platinum card
• Centurion Lounges increasingly crowded and adding guest restrictions
• The $8,000 spending requirement for the welcome bonus is steep

Alternatives to Consider

How the Rewards Add Up

Example Annual Value

First-year value depends almost entirely on credit usage. Someone who uses the hotel, Resy, entertainment, Uber, airline and Walmart+ credits in full clears the $895 fee before counting points; someone who uses none of them does not. Points valued at 2 cents each via airline transfer partners push the welcome offer alone past $3,000 in year one.

Should You Get This Card?

You Should Get It If...

• You fly at least 6 to 10 times per year and will use lounge access regularly
• You can realistically use the airline fee credit, hotel credit, and Uber Cash each year
• You book flights and hotels through Amex Travel to maximize 5X earning
• You value Membership Rewards transfer partners and know how to use them
• You want complimentary Hilton Gold and Marriott Gold status
• You travel internationally and need no foreign transaction fees
• You have the spending to meet the $8,000 welcome bonus requirement

You Should Skip It If...

• You fly fewer than 4 times per year and rarely visit airport lounges
• You would not use most of the annual credits, leaving value on the table
• You prefer strong everyday earning rates on groceries, dining, and gas
• You carry balances and need a card with a traditional revolving APR
• You cannot justify the $895 annual fee based on your travel habits
• You prefer a simpler rewards card without tracking multiple credits and perks

Information verified as of July 2026. Terms and conditions apply. Please visit the issuer's website for the most current information.