Credit Card Reviews

American Express Platinum

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American Express Platinum credit card is a premium card which offers a range of exclusive benefits and rewards. With no pre-set spending limit, the American Express Platinum card helps you make purchases with greater flexibility and freedom. The card also includes perks such as access to airport lounges, exclusive discounts on hotels, flights and car rentals. In addition, you will earn points with every purchase and have access to a range of redemption options. This article will take a closer look at what benefits/perks are offered with this credit card option and how to maximize points earned on purchases.

Benefits/Earning Points

The American Express Platinum card currently carries a $695 annual membership fee. This may sound steep, but the points earned on purchases as well as additional benefits included with this card option can easily outweigh this annual cost. With the current promotion you will earn 125,000 membership reward points after spending $8,000 in purchases in the first 6 months of activating your card. Additional benefits include:

  • Earn 5X membership rewards points on flights booked directly with airlines or with American Express Travel.
  • Earn 5X points on prepaid hotels booked through Amex Travel.
  • Uber Eats & Rides: You will receive $15 in Uber Cash to use on eligible orders with Uber Eats and rides with Uber in the US each month, plus a bonus $20 in December.
  • Clear Plus credit: Every year you will earn a $189 in statement credits to go towards your Clear Plus membership.
  • Receive a $200 yearly statement credit on prepaid Fine Hotels and Resorts or the Hotel Collection staysbooked through American Express travel. The Hotel Collection requires a minimum two night stay.
  • $200 Airline fee credit: This benefit allows you to select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card. This includes baggage fees, ticket change and cancellation fees.
  • Earn 1X points on all other purchases
  • Points will never expire as long as you card is active

Car Rental Partners

With automatic Avis Preferred, Hertz Presidents circle, and National Car Rental Emerald Club Executive statuses, Platinum Card Members can enjoy unique benefits. These include priority service at participating locations, as well as discounts and upgrades when available. To access these perks, simply enroll with your American Express Platinum card.

American Express Global Lounge Access

Line to get into the Las Vegas Amex Centurion Lounge. It’s becoming more difficult to access and get a seat inside Amex lounges during busy travel times. Photo: Tal-ee Roberts

The American Express Global Lounge Collection offers Platinum Card Members access to more than 1,400 airport lounges in over 500 airports around the world. These lounges include Amex Centurion Lounges, Delta SkyClubs, and lounges associated with the Priority Pass Select membership your card grants you. Benefits offered at American Express global lounges range from local inspired menus, signature cocktails, Wi-Fi and Spa therapies from exhale. Popular locations listed on the American Express website are:

Charlotte (CLT), Dallas (DFW), Denver (DEN), Hong Kong (HKG), Houston (IAH), Las Vegas (LAS), Los Angeles (LAX), Miami (MIA), New York (JFK), New York (LGA), Philadelphia (PHL), Phoenix (PHX), San Francisco (SFO) and Seattle (SEA)

Keep in mind that most lounges have become very crowded in post-pandemic times, and at most, if not all these lounges, your card will only allow you free entry – and entry is only allowed within three hours of your flight departure time at Centurion Lounges. You cannot access a lounge after a flight has landed, unless you’re on a layover, it’s only for pre-flight access. Additionally, if you spend $75k or more per year on your card, you do get upgraded to allow you the ability to invite two additional guests per visit at Amex Centurion Lounges at no extra cost. Otherwise, it’s $50 per adult guest and $30 per child. You’ll find similar guest fees at Delta SkyClubs and Priority Pass locations.

Additional Benefits

American Express Platinum card members are eligible for an array of additional perks/benefits:

  • $240 Digital Entertainment credit: Purchases made with your Platinum Card can be rewarded up to $20 in statement credits every month when you spend on Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times. To receive this benefit, you must make these purchases directly from the respective provider.
  • $155 Walmart credit: Walmart+ members can take advantage of a range of shopping perks – online and in-store. Become a Walmart+ member, simply use your Platinum Card to pay for the monthly membership fee and you will receive a statement credit that covers the full cost each month.
  • $300 Equinox credit: When you use your Platinum Card to pay for an Equinox+ subscription or any Equinox club membership you will receive up to $300 in statement credits per year, no matter what option you choose.
  • Cell phone protection: If your cell phone is damaged or stolen, you can be reimbursed for its repair or replacement for up to $800, less a $50 deductible. You are eligible to make two approved claims per 12-month period when your prior month’s wireless bill was paid using your Platinum card.
  • Access to the Fine Hotels & Resorts program (FHR) — which offers perks such as guaranteed 4pm late checkout, minimum of $100 experience credit per stay, room upgrades and free breakfast for two each day.
  • Automatic Hilton Honors and Marriott Gold Elite status.
  • Trip interruption and cancellation insurance up to $10,000 per trip / $20,000 per year.
  • Secondary Car Rental loss and damage insurance.
  • Access to their Premium Global Assist hotline which can assist you in the event of an emergency when traveling over 100mi from your residence.
  • Trip delay and baggage insurance coverage.

Airine Partners

As a Platinum Card Member, you have access to the Membership Rewards Pay with Points feature. You can use it to pay for all or part of your fare and still earn miles from the airline. When booking your flight exclusively with points through American Express, exclusive deals called Insider Fares are offered that allow you to book at lower than usual Membership Rewards points rates (which are usually valued at 1 cent per point for Pay with Points purposes).

But most real values are found when transferring points to miles at airlines (mainly non-US based airlines) and booking through their frequent traveler rewards programs. Transfer is available to the 17 airline partners listed below at a 1:1 ratio, except for Quantas which is 0.5 to 1 and JetBlue which is 0.25 to 1 Amex point.

  • Quantas
  • Aer Lingus
  • AeroMexico
  • Air Canada AeroPlan
  • ANA Mileage Club
  • Avianca LifeMiles
  • Cathay Pacific
  • Emirate Skywards
  • Etihad Guest
  • Iberia Plus
  • Singapore Airlines KrisFlyer

Hotel Partners

American Express offers three hotel transfer partners. In order to transfer membership rewards points to these hotel partners click here. The three hotel partners and transfer ratio of membership rewards points are:

  • Marriott Bonvoy: 1 Membership Rewards points equals 1 Marriott points.
  • Hilton Honors: 1 Membership Rewards points equals 2 Hilton Honors points.
  • Choice Privileges Rewards: 1 Membership Rewards points equals 1 point.

Final Thoughts

The American Express Platinum Credit Card provides exceptional access to exclusive benefits and rewards — primarily when it comes to travel. The card comes with an annual fee but it certainly can be worth it, depending on how you use your card. You can save money on travel costs and enjoy luxury benefits like airport lounge access and other premium perks. However, the card is not for everyone, as it requires a good to excellent credit score and the rewards may not be worth the annual fee if you don’t take advantage of multiple travel focused benefits.

Editorial Note: Information and opinions articulated in this article are solely those of the author’s, not those of a credit card company, bank, airline or hotel chain. This article has not been reviewed or approved by or otherwise endorsed by any of these companies or organizations.

Travis is a Senior Editor at Miles Junkie. An avid outdoorsman, you'll see him shredding the slopes of Colorado in the winter and cutting rounds to heat his home in the national forests during the summer. He lives with his wife and three dogs in southwest Colorado.

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