Last Updated: September 2025

The American Express Platinum card has long been the gold standard of premium travel cards, and it just got a major refresh. With the September 2025 update bringing the annual fee to $895 and over $3,500 in potential benefits, this card is more compelling—and more expensive—than ever.

But here's the thing: the Amex Platinum isn't just a credit card anymore. It's essentially a premium lifestyle membership that happens to come with a payment method attached. The question isn't whether it offers value on paper (it does), but whether you'll actually use enough benefits to justify nearly $900 per year.

For breaking news analysis of this refresh, see our coverage of the Amex Platinum 2025 refresh announcement.

Amex Platinum Benefits: What You Actually Get

The refreshed Platinum card comes loaded with benefits across travel, dining, fitness, and digital categories. Here's everything you need to know about maximizing them.

Travel Benefits That Actually Matter

$600 Annual Hotel Credit: This is the big upgrade. You get $300 twice per year (January-June, July-December) for bookings through American Express Fine Hotels & Resorts or The Hotel Collection. These aren't budget properties—we're talking luxury hotels with room upgrades and resort credits.

Airport Lounge Access: Still the crown jewel benefit. You get access to Centurion Lounges (when you can get in—they're crowded), Priority Pass lounges worldwide, and Delta Sky Clubs when flying Delta. If you're a frequent traveler, this alone can justify the annual fee. For more on maximizing lounge access across different cards, see our guide to the best credit cards with airport lounge access.

Elite Hotel Status: Automatic Hilton Honors Gold and Marriott Bonvoy Gold status. These get you room upgrades, late checkout, and bonus points, but they're mid-tier status levels. Don't expect miracles. Our comprehensive guide to credit cards for elite status explains how to maximize these benefits.

$200 Airline Fee Credit: Statement credits for incidental fees like baggage, seat upgrades, and in-flight purchases with your selected airline. Note: this doesn't cover actual ticket purchases.

TSA PreCheck/Global Entry Credit: Up to $120 every four years for Global Entry or $78 every 4.5 years for TSA PreCheck. Honestly, everyone should have PreCheck anyway.

Dining and Lifestyle Credits

$400 Resy Dining Credit: This is genuinely useful. You get $100 per quarter in statement credits when dining at Resy restaurants. With over 10,000 participating restaurants nationwide, you can actually use this.

$320 Uber Benefits: Split into $200 annual Uber Cash ($15/month plus $20 in December) and up to $120 for Uber One membership. If you live in a major city, this is easy value.

$300 Digital Entertainment Credit: Covers Netflix, Disney+, Spotify, and now YouTube Premium. That's $25 per month you can actually use.

$300 Lululemon Credit: $75 per quarter for athletic wear. Either you shop at Lululemon or you don't—there's no middle ground here.

$200 Oura Ring Credit: Statement credit toward the popular fitness wearable. Niche, but valuable if you're into health tracking.

$209 Clear Plus Credit: Expedited airport security screening. If you travel frequently, Clear can save significant time.

$155 Walmart+ Credit: Covers the annual membership for free grocery delivery and other perks.

$300 Equinox Credit: Annual credit for Equinox gym memberships. Premium gyms for premium cardholders.

$100 Saks Credit: Split into two $50 credits throughout the year for Saks Fifth Avenue purchases.

The Point-Earning Breakdown

The Platinum card's earning rates haven't changed and honestly, they're not impressive:

• 5x points on flights booked directly with airlines or through American Express Travel (up to $500,000 per year)
• 5x points on prepaid hotels booked through Amex Travel
• 1x points on everything else

That 1x earning rate on non-bonus categories is weak for a card with such a high annual fee. This isn't a daily-driver card unless you're specifically trying to hit welcome bonus spending requirements.

Welcome Bonus: Up to 175,000 Points

New cardmembers can earn as high as 175,000 Membership Rewards points after spending $8,000 in the first six months. Your actual offer varies based on American Express's targeting, and you won't know the exact bonus until after you're approved but before you accept the card.

At our current valuations, 175,000 points are worth approximately $3,500, which more than covers the first year's annual fee. But remember—welcome bonuses are one-time benefits.

How Membership Rewards Points Work

Each American Express point is worth approximately 2 cents when transferred to airline and hotel partners, including major programs like:

• Airlines: Delta, British Airways, Air Canada, and more
• Hotels: Marriott, Hilton, Choice Hotels, and others

If you book travel directly through the Amex portal, points are typically worth about 1 cent each, making partner transfers the better deal for maximum value. For detailed strategies on maximizing these transfers, check out our guide on Capital One transfer partners which covers similar concepts.

The Real Cost Analysis

Let's be honest about what you're likely to actually use:

High-Probability Benefits:

• Hotel credit: $600 (if you travel and stay at nice places)
• Uber benefits: $320 (if you live in a major city)
• Digital entertainment: $300 (Netflix, YouTube Premium, etc.)
• Clear Plus: $209 (frequent travelers love this)
• Airline fee credit: $200 (if you fly regularly)

Total Easy Value: $1,629

That covers the $895 fee with $734 to spare. Add in lounge access (worth $300-500 if you travel regularly), and you're genuinely ahead—if you actually use these categories.

Who Should Get the Amex Platinum?

Perfect For

• Business travelers who can maximize hotel and dining credits
• High earners who naturally spend in bonus categories
• Urban dwellers who can use Uber benefits and frequent dining
• Status seekers who want elite treatment while traveling

Skip This Card If

• You travel less than 5 times per year
• You prefer simple rewards over benefit management
• You can't reliably spend $100+ per month dining out
• You want strong everyday earning rates

Alternatives to Consider

Chase Sapphire Reserve: $795 annual fee with more straightforward benefits and better everyday earning. Our detailed Chase Sapphire Reserve vs Chase Sapphire Preferred comparison shows how it stacks up.

Capital One Venture X: $695 annual fee with simpler travel benefits and better transfer partner options. See our analysis of Capital One vs Chase credit cards for more context.

American Express Gold Card: $325 annual fee focusing on dining and grocery rewards with many of the same transfer partners.

Application Strategy

Current Timing: Apply soon if you're interested. You can access all the new benefits immediately, and existing cardholders don't pay the higher fee until renewals starting January 2, 2026.

Credit Requirements: Excellent credit (typically 700+) and significant income. American Express prefers existing customers and high spenders. For tips on building credit for premium cards, check our guide on best credit cards for authorized users.

Bottom Line: Worth It for the Right Person

The refreshed Amex Platinum is simultaneously the most valuable and most expensive version yet. At $895, it's not a casual decision, but for travelers who can genuinely use the hotel, dining, and lifestyle benefits, it delivers real value.

The key question isn't whether the card offers enough benefits—it does. The question is whether you'll actually remember to enroll in quarterly benefits, track spending caps, and optimize your usage across multiple categories.

If you're the type of person who naturally spends heavily on travel, dining, and transportation while staying organized about credit optimization, this card can save you money while delivering genuine luxury perks.

But if you want simple travel rewards without the complexity of managing multiple benefit categories, you'll be happier with the Chase Sapphire Reserve or Capital One Venture X.

The Amex Platinum isn't for everyone—but for its target audience of affluent, frequent travelers who value premium experiences, it remains the benchmark premium travel card.

Frequently Asked Questions

How much is the Amex Platinum annual fee now? The annual fee is $895 as of September 18, 2025, up from the previous $695. You can see current offers on the official American Express Platinum card page.

When do existing cardholders pay the higher fee? The $895 fee applies to existing cardholders at their renewal date on or after January 2, 2026.

Can I use multiple credits in the same month? Many benefits are structured quarterly (like Resy dining and Lululemon) to spread usage throughout the year, but you can use different credit types in the same month. For detailed benefit management strategies, check our Amex Hotel Collection guide.

Is the Amex Platinum worth it without travel? Probably not. While lifestyle benefits like Uber, streaming, and dining credits provide value, the card's strength lies in travel benefits like lounge access and hotel credits.

How does this compare to the Chase Sapphire Reserve? The Amex Platinum offers more total benefit value ($3,500+ vs about $2,000) but requires more active management. The Chase Sapphire Reserve has simpler benefits and better everyday earning at a lower $795 fee. See our Chase Sapphire showdown for more details.

Do I need to enroll for each benefit? Yes, most benefits require enrollment through the Amex app or website. The new app experience makes this easier, but it's still an extra step for each benefit category. American Express provides detailed enrollment instructions on their official benefits page.

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