American Express Platinum Card Review 2026

The Platinum Card® has a unique welcome bonus, where instead of receiving a fixed number of points, you can earn up to a maximum. New cardholders can currently earn as high as 175,000 Membership Rewards® Points after spending $12,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer. . While you won’t know how many points you’ll qualify for before the application, if approved, you’ll know before you accept the card so you can make your decision then.

Amex Membership Rewards Points are worth between 0.5 cents and 2 cents apiece. You’ll generally get the most value when transferring your points to Amex’s airline and hotel partners, meaning the 175,000 bonus points could be worth around $3,500 in travel.

Although the $12,000 spending threshold is high, you’ll have six months to meet that requirement. So, you can think of it as spending around $1,333 per month for six months, or, if you have a larger purchase to pay for, you’ll give yourself a good head start on qualifying for the bonus.

The Platinum Card® has a swath of premium perks that can allow you to travel in luxury and benefit from insurance and protection. Here are the most notable benefits.

Statement credits

• $600 hotel credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels and Resorts or The Hotel Collection bookings (The Hotel Collection requires a two-night minimum stay).
• $400 Resy credit: Get up to $100 in statement credits every quarter for eligible Resy purchases (enrollment required).
• Up to $200 Uber Cash: Receive $15 in Uber Cash each month, plus a bonus $20 in December ($35 total) after adding your card to your Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction. Terms apply. Enrollment is required.
• $120 Uber One credit: Receive up to $120 in statement credits each calendar year for an auto-renewing Uber One membership (terms apply).
• $200 airline fee credit: Receive up to $200 in statement credits annually for incidentals, such as checked bags, in-flight refreshments, and other fees after you select an eligible airline (enrollment required).
• $300 Digital Entertainment Credit: Get up to $25 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Disney+, a Disney+ Bundle, ESPN+, Hulu, The New York Times, Paramount+, YouTube Premium, YouTube TV, Peacock, and The Wall Street Journal (enrollment required).
• $300 Equinox Credit: Get up to $300 back in statement credits per calendar year on an Equinox membership, or an Equinox club membership (subject to auto-renewal) when you pay with your Platinum Card®. Enrollment required. Visit https://platinum.equinox.com/ to enroll.
• $300 lululemon credit: Get up to $75 in statement credits every quarter for eligible purchases at U.S. lululemon stores or lululemon.com (excludes outlet stores; enrollment required).
• $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Perks include free shipping with no order minimums and a free Paramount+ subscription. The cost includes $12.95 plus applicable local sales tax. Plus Ups are excluded. Subject to auto-renewal. Enrollment required.
• $200 Oura ring credit: Receive $200 in statement credits when you purchase an Oura Ring at Ouraring.com (enrollment required).
• $120 for TSA PreCheck or Global Entry: Receive either a statement credit for Global Entry ($120 every 4 years) or TSA PreCheck application fee or (up to $85 every 4 years, through a TSA official enrollment provider) for expedited airport security and expedited U.S. customs screening when charged to your Platinum Card®. Because TSA PreCheck is included with Global Entry, it is advantageous to apply for Global Entry and maximize the credit. (Read how to apply for Global Entry.)
• $209 CLEAR+ Credit: Use your Card and get up to $209 back per year in statement credit to apply for CLEAR+, a biometric security program located at airports and stadiums across the U.S. Excluding any applicable taxes and fees. Subject to auto-renewal.

These credits alone can be worth $3500 in statement credits when fully maximized, easily offsetting the card’s annual fee.

Additional cardmember benefits

• American Express Global Lounge Collection: With over 1,550 airport lounges – more than any other credit card company on the market* – enjoy the benefits of the Global Lounge Collection®, over $850 of annual value, with access to Centurion Lounges, 10 complimentary Delta Sky Club® visits when flying on an eligible Delta flight (subject to visit limitations), Priority Pass Select membership (enrollment required), and other select partner lounges.* As of 07/2025. 
• Cell phone insurance: Pay for your wireless bill with your card and be covered for the repair or replacement costs of your cell phone after damage or theft occurs, up to $800 per claim with a limit of two approved claims per year — note that each claim will also incur a $50 deductible charge.
• Complimentary elite status in select travel programs: Cardholders can receive gold status in the Marriott Bonvoy and Hilton Honors programs (enrollment required), and enroll to receive Leaders Club Sterling Status, as well as automatic status with Avis, Hertz and National. The elite statuses can help you score upgrades, late check-out, bonus points, preferential treatment and more.
• Fine Hotels + Resorts®: Book hotel stays with the Fine Hotels + Resorts program through American Express Travel® to get benefits such as room upgrades, late check-out, early check-in, complimentary breakfast for two and a $100 hotel credit (based on availability).
• The Hotel Collection: Book hotel stays with The Hotel Collection to receive complimentary benefits, including room upgrades, free breakfast for two, late check-out, early check-in and up to a $100 hotel credit, when available. Minimum stay of two consecutive nights is required.
• Amex International Airline Program: Get discounts on premium cabin international flights booked through American Express Travel.
• Premium Private Jet Program: A 20% discount on Wheels Up Connect and a 40% discount on Wheels Up Core memberships, plus a credit of $500 or $2,000 to put toward your first flight.
• Comprehensive protections: Access to a variety of shopping and travel protections, including purchase protection, extended warranty coverage, trip cancellation and interruption coverage, trip delay reimbursement, baggage insurance and car rental loss and damage insurance.
• Amex Offers: Receive exclusive shopping discounts at select retailers through Amex Offers. These offers typically give you a set dollar amount of cash back, credited to your account within 90 days after you meet the requirements.
• Global Dining Access by Resy: Get special access to reservations and experiences at popular restaurants, and the opportunity to meet the chefs at exclusive events.
• Entertainment access: Receive access to exclusive entertainment events, presales and preferred seating for concerts, sporting events, and more in select cities. (Check out the best credit cards for entertainment spending.)
• Premium Events Collection™: Enjoy exclusive events from sporting and fashion to fine dining, art and performances.
• American Express Platinum Concierge: Enjoy access to a 24-hour team of experts who can assist with a range of requests, ranging from help making dinner reservations to purchasing tickets to a sought-after event.

Terms apply for all benefits.

Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

By spending with the Platinum Card® from American Express, you’ll earn:

• 5X points per dollar for flights booked directly with the airline or through American Express Travel®, up to $500,000 per calendar year
• 5X points per dollar on prepaid hotels booked via American Express Travel®
• 1X points per dollar for all other eligible purchases

To earn the most rewards for your travel purchases, you have to book travel with American Express Travel® or directly with the airline. If you book airfare and hotels through third-party sites, such as Expedia or Booking.com, or directly with hotel chains, such as Hilton, you’ll only earn 1X points.

Redeeming Membership Rewards points

Membership Rewards® points can be put toward a wide range of redemption options, including:

• Transferring them to partner airline and hotel loyalty programs
• Redeeming them for travel through Amextravel.com
• Covering charges on your American Express credit card
• Paying with points at checkout with retailers such as Best Buy, Amazon and Dell, among others
• Redeeming them for gift cards, exclusive access to entertainment experiences and using them for Preferred Seating at certain sports and cultural events
• Purchasing merchandise directly through American Express

However, you’ll generally get the greatest value by transferring your Membership Rewards® points directly to a partner airline or hotel loyalty program, such as the following airline partners:

• Aer Lingus AerClub
• Aeromexico Premier
• Air Canada Aeroplan
• Air France/KLM Flying Blue
• ANA Mileage Club
• Avianca LifeMiles
• British Airways Executive Club
• Cathay Pacific Asia Miles
• Delta SkyMiles
• Emirates Skywards
• Etihad Guest
• Iberia Plus
• JetBlue TrueBlue
• Qantas Frequent Flyer
• Qatar Airways Privilege Club
• Singapore KrisFlyer
• Virgin Atlantic Flying Club

Hotel loyalty program partners include the following:

• Choice Privileges
• Hilton Honors
• Marriott Bonvoy

To transfer your points, all you need to do is connect the loyalty program for your airline or hotel program of choice in the American Express customer portal, then transfer over the number of points needed for your booking. Most programs will show your points transfer immediately, while some may take a few days to process the transaction.

While this may seem like a cumbersome process, it’s a great way to score premium travel perks such as luxury hotel suites and first-class flights for free (or almost free) using your points.

For example, you can transfer Membership Rewards points to Air Canada Aeroplan to book short-haul domestic United award flights from just 6,000 points each way in economy or 15,000 points each way in business class.

Meanwhile, British Airways and Etihad are great programs for booking American Airlines flights.

This card has a steep *$895 annual fee, but if you take advantage of all the annual statement credits, you can more than offset the cost. It has *no foreign transaction fees *(see rates and fees).

The Platinum card has *no preset spending limit and offers a Pay Over Time feature, allowing eligible purchases over $100 to be paid over time with interest. See rates and fees for the Pay Over Time APR. All charges not added to a Pay Over Time balance, monthly plan, or Cash Advance balance must be paid in full each month by the payment due date. Balance transfers are not available with this card.

*No Preset Spending Limit means the spending limit is flexible. Unlike a traditional credit card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history.

If you’ve been researching The Platinum Card® from American Express, you’ve probably come across the Chase Sapphire Reserve (see rates and fees).

The card was updated to include a slightly higher $795 annual fee and comes with a long list of luxury travel benefits, including a $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year, a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge® by The Club with two guests, TSA PreCheck®/Global Entry credit, travel insurance, rental car insurance and more. It also provides statement credits with DoorDash, Lyft and StubHub.

However, the Sapphire Reserve gets a slight edge for offering 8x points on Chase Travel℠, 4x points on flights and hotels booked direct, 3x points on dining, and 1x points on all other purchases. Plus, the Sapphire Reserve by default allows two complimentary guests in the Chase Sapphire Lounges, while the Amex Platinum only provides complimentary guest access after spending $75,000 in eligible purchases in a calendar year.

American Express Membership Rewards and Ultimate Rewards® both offer a range of airline and hotel transfer partners, so you’ll want to evaluate how you’ll redeem points to decide which program is more useful to you.

The American Express Platinum Card® vs. Capital One Venture X Rewards Credit Card

The Capital One Venture X Rewards Credit Card is another premium travel card available to consumers.

It has a much lower $395 annual fee, which can be offset by a $300 Capital One Travel annual credit to use toward purchases made through Capital One Travel and 10,000 bonus anniversary miles (worth at least $100 toward travel). Several of the travel benefits overlap with The Platinum Card, including a TSA PreCheck®/Global Entry credit, airport lounge access and automatic Hertz elite status. The card also offer several lifestyle benefits, including cell phone insurance* and access to exclusive entertainment and sports experiences through the Capital One Experiences program.

*Terms, conditions and exclusions apply. Refer to your Guide to Benefits for more details.

Ultimately, one is not necessarily better than the other, as both cards target slightly different audiences.

The Capital One Venture X is a great choice if you’re purely after travel benefits and want a lower annual fee. However, the Platinum ultimately has more diverse perks than the Venture X, including better airport lounge access and complimentary hotel elite status with Hilton and Marriott, as well as all of the everyday benefits, such as the Uber and digital entertainment credits.

Most will have an easier time recouping the cost of the annual fee through the Venture X’s simple travel credit and anniversary miles, but the Amex Platinum has the potential to provide more value if fully maximized.

Other Amex options

If you’re still invested in the American Express family, but don’t want to pay $895 for a card, consider the American Express® Gold Card, which has a lower $325 annual fee (see rates and fees). The fee is more manageable, and you can still benefit from many of the same perks, such as Amex Offers, and the opportunity to explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property. Terms apply.

The Platinum Card® from American Express is a top-notch travel card that can add comfort and convenience to your travels. In addition to travel perks like lounge access and automatic hotel elite status (enrollment required), it offers many lifestyle benefits like credits towards an Equinox gym membership (enrollment required), Uber credits and cell phone protection.

While it has a steeper annual fee, if you’re able to consistently take advantage of the card’s annual statement credits, travel perks and shopping features, you can easily offset the fees and maximize your card’s benefits.

Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.

For rates and fees of the American Express Platinum Card®, click here.

For rates and fees of the American Express® Gold Card, click here.

For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply. Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at that status level through the duration of the offer. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.