American Express Platinum Card: Is it Worth It?
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When I first started exploring the world of points and miles, I couldn’t believe the amount of people who had the Platinum Card® from American Express. The annual fee felt shockingly high, and the perks couldn’t possibly be worth it, right?
Turns out, it’s completely worth it (at least for me, and for many other as well). From both a simple math perspective and a luxury travel perspective.
There are three components that make this card so valuable, and I’ll dive into each one:
The incredible Centurion lounges that have ruined all other lounges for me.
The statement credits that massively outweigh the fee, giving me well over $1,400 in value
The high welcome bonus that can easily be used to book business-class flights, thanks to Amex’s generous travel partner program.
The Centurion Lounges: The Crown Jewel of Airport Lounges
Let’s start with the Centurion Lounges because they are, in a word, incredible. When it comes to travel credit cards for lounge access, nothing beats the luxury of a Centurion lounge. From gourmet food options that rival what you’d find in top restaurants to full bars stocked with premium spirits, Centurion Lounges redefine what an airport experience should be.
In fact, most people don’t realize these lounges also come with additional hidden perks. We’re talking manicures, massages, and even a speakeasy if you’re at JFK. These lounges are so good, I actually look forward to arriving at the airport early. Yes, you read that right—I want to spend more time at the airport. If you travel frequently (or even semi-frequently), access to these lounges can reshape your travel experience.
Wondering what the Centurion lounge locations are? These lounges are available at many major airports in the U.S. and a bit internationally. Some key U.S. Centurion Lounge locations include New York City (JFK and LGA), Los Angeles (LAX), Miami (MIA), and San Francisco (SFO). Internationally, you can find Centurion Lounges in locations like London (LHR), Hong Kong (HKG), and Sydney (SYD).
What’s Not so Great About the Centurion Lounges
I promise to always be honest with the Inside the Upgrade community, so here’s what I don’t love about these lounges:
Long Lounge Lines – The lines to get into the lounges can snake around the hall and take 30+ minutes. It’s really annoying, but I usually still think worth it, so long as you can build in time for it so you don’t feel disappointed when you don’t get in (which infuriates me).
Guests aren’t free – It does cost $50 to bring a guest (and $30 for children), so if you’re traveling often with family, you may want to explore what the best card for lounge access is for you.
How the Benefits Outweigh the Fee: Why the American Express Platinum Card Is Worth Every Penny
The American Express Platinum Card comes with a $695 annual fee, and let’s be real—many people can’t get past that number (myself included for many years). But when you break down the American Express Platinum benefits, you’ll see that this card more than pays for itself. Here’s a list of the statement credits I actually use, that make it worth it.
- $200 Airline Fee Credit: I always use this for those annoying incidental fees—like checked bags, seat upgrades, or even in-flight snacks—on my selected airline. (Enrollment required).
- $200 Hotel Credit: Every year, I book a stay through Amex’s Fine Hotels + Resorts® or The Hotel Collection and get $200 back (more on that below). The Hotel Collection requires a minimum two-night stay, but it’s perfect for those weekend getaways.
- $240 Digital Entertainment Credit: My subscriptions to Paramount & The New York Times are covered by this credit, which means I’m not paying out of pocket for entertainment. (Enrollment required).
- $200 Uber Cash: Whether it’s for rides or Uber Eats, this credit is automatic as long as my amex is linked to my Uber account. I use Uber regularly, so this is an easy win.
- $189 CLEAR® Credit: I fly enough that skipping long TSA lines with CLEAR is a no-brainer. This credit covers the entire cost, making travel even smoother. (Enrollment required)
- $100 Global Entry Credit: There is truly no better feeling than walking past a long customs line when you don’t have to wait in it. I renewed my Global Entry fee using my Amex and received a $100 statement credit, making international travel a breeze. This also includes TSA PreCheck® at no extra cost.
- $155 Walmart+ Credit: Walmart+ offers free shipping and other perks that make my life easier. This credit covers my monthly membership fee, which adds up to $155 per year. (Enrollment required)
- $200+ Lounge Access: No more airport sandwiches or $18 glasses of not-so-great wine for me. I get well more than $200 worth of value from lounge visits alone. Even if you don’t live near a Centurion lounge, you get Priority Pass access as well.
That’s $1,484 in value or $789 in pure perks profit ($1,484 value – $695 fee = $789 pure perks profit!). That’s without even touching on other perks like the $50 Shop Saks Credit (semi-annual, $100 total) or the potential $300 Equinox Credit if you’re into fitness (this can be used for a digital membership or spa treatments as well!).
Additional American Express Platinum Benefits
Beyond the credits, the American Express Platinum Card comes packed with additional benefits that are easy to overlook but add significant value:
- 5x Points on Airfare and Hotels: I book all my flights with my Amex because you earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel, and 5X points on prepaid hotels booked on amextravel.com (Enrollment required). If you’re a traveler to begin with, earning 5x points on flights is an easy way to rack up enough points for your next free flight.
- Fine Hotels + Resorts Program: The Amex platinum gives you access to hotels in the Fine Hotels + Resorts program and the benefits are incredible. Enjoy perks like complimentary daily breakfast for two, room upgrades upon arrival (when available), guaranteed 4 PM late check-out, and a unique property amenity (often a $100 credit) at over 1,000 luxury hotels worldwide. The biggest game change for me is the 4pm late check-out. This gives you an entire extra day to have breakfast in bed and lounge around in your bathrobe (legitimately my favorite activity).
- Gold Status with Marriott and Hilton: Complimentary status with two major hotel chains means free upgrades, late check-outs, and other perks without lifting a finger. (Enrollment required). I also have a free hotel upgrade script you can use which works even better if you already have status.
The Welcome Bonus: 80,000+ Points to Easily Book Business Class
The welcome bonus is a key part of why I would ever get a new card, and how I consistently have enough points to book business class (while maintaining a high credit score, yes). At the time of writing this, the Amex Platinum usually offers a minimum of 80,000 points after meeting the minimum spend criteria, which you can easily use to book a business-class flight.
These points can be transferred to 17 airline and 3 hotel partners, or you can redeem them directly with Amex Travel for at least $800 in value. But savvy travelers know you can get even more value by transferring those points to airline partners—think multi-thousand-dollar business class flights for a fraction of the cost.
How to Apply for the Amex Platinum
If these perks seem right for your preferred travel style, Check out the best offer here or click here to open this referral link in an incognito window to see if you qualify for a higher welcome bonus. If that one is no longer available, feel free to email me to see if I have any better offers in my arsenal!
A Note on the New Amex Rules
One thing to keep in mind with Amex is their new rule: if you’ve already received a welcome bonus for a higher-tier card like the American Express Platinum Card, you won’t qualify for the welcome bonus on a lower-tier card like the American Express® Gold Card For that reason, I recommend getting the Amex Gold first (I love the points I earn on restaurants and dining with this card), especially since I’ve never found the Green welcome bonus to be high enough to make it worth it.
TL;DR
The American Express Platinum Card is all about turning a hefty annual fee into incredible value. With $1,484 in easily attainable benefits, a stellar welcome bonus, and perks that elevate your travel experience, the benefits far outweigh the fee.
Cheers to your next adventure ✈️🥂
Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
