The Platinum Card® from American Express

Quick Snapshot

• Annual Fee: $695
• APR: 21.24%-29.99% variable
• Rewards: 5X on flights and prepaid hotels via Amex Travel, 1X on everything else
• Bonus: 150,000 Membership Rewards points after spending $8,000 in the first 6 months
• 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 150,000-point welcome bonus is among the richest in the industry and can be worth $1,500 to $3,000 depending on how you redeem.

The real draw is the suite of credits and perks. You receive up to $200 per year in airline fee credits, up to $200 in hotel credits when booking prepaid stays through Amex Travel, $200 in annual Uber Cash, up to $155 in Walmart+ credits, and up to $300 in Equinox 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 justifies its $695 annual fee for those who use the benefits.

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 $200 airline fee credit for incidentals on one selected airline
• Up to $200 hotel credit on prepaid bookings through Amex Travel
• $200 in Uber Cash annually ($15/month plus $20 in December)
• Up to $155 Walmart+ credit
• Up to $300 Equinox credit ($25/month)
• $100 Saks Fifth Avenue credit ($50 semi-annually)

Travel Protections and Status

• Up to $200 Global Entry or TSA PreCheck 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

Earn 150,000 Membership Rewards points after spending $8,000 on eligible purchases within the first 6 months of card membership. At a conservative 1 cent per point, that is $1,500 in value, though savvy transfers to airline partners can yield $2,500 or more. The $8,000 spend requirement is higher than most cards, but the bonus is among the largest available for personal credit cards.

Fees Summary

• Annual Fee: $695
• 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 $695 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 $695 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

• 150,000-point welcome bonus is among the highest 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

• $695 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

Total estimated first-year value: $3,560 after subtracting the $695 annual fee. Points valued at 2 cents each via airline transfer partners could push the total above $5,000. After year one, ongoing value is approximately $2,060 assuming consistent use of credits.

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 $695 annual fee based on your travel habits
• You prefer a simpler rewards card without tracking multiple credits and perks

Apply Now

Apply for The Platinum Card® from American Express

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