American Express Platinum Review: Is the Fee Worth It?
The American Express Platinum card is without a doubt one of the most premier travel credit cards on the market but the most frequently asked question is “Yea, but is it worth it?” and that’s what we are going to answer so let’s start with the basics!
Annual Fee:
$695
Bonus Program:
Earn 80,000 Membership Rewards Points after you spend $8,000 in the first 6 months of opening the card. This is the offer at the the time I’m writing this but it can and does change.
Rewards Program:
Earn 5X Membership Rewards Points for flights booked directly with airlines or through the American Express Travel portal up to $500,000 on these purchases each calendar year and 5X points on prepaid hotels booked through the American Express Travel portal and 1 point per dollar on all other purchases.
Additional Benefits:
$200 Hotel Credit - Get $200 back in statement credit every year on prepaid hotels and resorts or The Hotel Collection bookings through the American Express Travel portal.
$240 Digital Entertainment Credit - Each month you receive $20 back in statement credit on eligible streaming subscriptions including Disney+, ESPN+, Hulu, Peacock, The New York Times, Sirius XM and The Wall Street Journal.
$155 Walmart+ Credit - Covers the cost of a $12.95 monthly Walmart+ membership after you pay with your platinum card.
$200 Airline Credit - Select a qualifying airline and receive $200 in statement credit each year when you are charged incidental fees such as checked bags fees, seat selection fees and lounge pass fees.
$200 in Uber Cash- Each year enjoy $200 in Uber cash on rides and eat as well as Uber VIP status.
$300 Equinox Credit - Each year receive $300 in statement credit on an Equinox gym membership when you pay with your platinum card.
$189 CLEAR Credit - Each year receive $189 back in statement credit for your CLEAR membership, which grants you quick access to stadiums, airports and entertainment venues.
$100 Global Entry Credit - Receive $100 statement credit when you use your platinum card to pay for the Global Entry application fee.
Shop Saks - Get $100 statement credit annually for purchases in Saks Fifth Avenue stores or online.
$300 Soul Cycle Credit - Get a $300 statement credit for the purchase of an at-home Soul Cycle bike when you pay using your platinum card.
Access to airport lounges including the Centurion, Escape, Delta Sky lounge and Plaza Premium lounges.
Who is the American Express Platinum Good For?
This card is ideal for someone who travels a lot and wants to take advantage of the airport lounges and someone who will take advantage of all or most of the credit statements, the streaming credit, Uber cash and hotel credit, etc.
Who is the American Express Platinum Not Good For?
If you rarely travel this card is definitely not for you and especially if you do not take advantage of the credits, for example, if you don’t use any of the streaming services and Uber then the annual fee will feel like a waste of money and you are better off finding an alternative card.
My Opinion:
I personally travel a lot and plan on traveling a lot in the future(hence the name of the blog), so access to the airport lounges, the hotel credit, airline credit and global entry credit make this card feel worth it. I also have Peacock, Hulu and use Uber frequently so as I mentioned above if you take advantage of the credits, this card is worth it! If not, it’s just a shiny status symbol.
