Key Points

• The Amex Platinum and Amex Gold together offer over $1,500 in annual statement credits, but most cardholders only redeem a fraction of them because the credits are fragmented, require specific merchants, or reset on confusing schedules.
• Setting calendar reminders, understanding which credits are monthly versus annual, and knowing the exact qualifying merchants for each benefit are the three strategies that separate cardholders who break even on their annual fees from those who come out far ahead.
• Several Amex credits have non-obvious workarounds that are completely legitimate, including using the Saks credit for online purchases, stacking the Gold card's dining credit with Resy reservations, and applying the airline fee credit to gift cards on select carriers.

Introduction

Here's an uncomfortable truth about premium Amex cards: the annual fee is only a deal if you actually use the credits. The Amex Platinum carries a $695 annual fee. The Amex Gold runs $325. Together, that's $1,020 per year before you've earned a single point. Yet both cards advertise hundreds of dollars in statement credits designed to offset those fees entirely.

The problem is that Amex has made redeeming these credits genuinely complicated. Credits are split across different categories, reset on different schedules, and require spending at specific merchants that not everyone uses naturally. It's not accidental. The more friction Amex builds into the redemption process, the more cardholders simply let the credits expire.

This guide walks through every major Amex statement credit for the Platinum and Gold cards, explains exactly how to use each one, and shares the legitimate tricks that help you capture full value even when your lifestyle doesn't perfectly match Amex's preferred merchants.

Why Amex Statement Credits Are Confusing by Design

When you pay a $695 annual fee on the Amex Platinum, you're not handing Amex $695. You're handing them $695 with the theoretical ability to claw back more than that through credits. In practice, American Express knows that a meaningful percentage of cardholders won't fully redeem those credits, which is how a card with over $1,500 in stated annual value remains profitable.

Understanding this is actually empowering. It means every dollar of credit you successfully redeem is a dollar you've recaptured from a card issuer that was banking on you not bothering.

The credits fall into a few categories worth understanding before diving into specifics.

Monthly reset credits are the ones that require attention all year. Miss a month and it's gone forever. The Amex Gold's $10 dining credit and $10 Uber Cash credit both work this way. So do several Platinum credits.

Annual credits reset once per year, typically on your card anniversary or on a calendar year basis. These give you more flexibility but still expire if you don't use them.

Per-trip or per-use credits apply to specific qualifying transactions rather than on a time-based schedule.

Knowing which category each credit falls into is step one. The rest is execution. If you're still weighing whether the annual fee is actually worth it, that framework is worth reading before diving into the specifics below.

Amex Platinum Statement Credits: The Full Breakdown

The Amex Platinum is the credit-heavy flagship. Here's how to actually use each benefit.

The $200 Airline Fee Credit

This credit sounds straightforward but has a catch that trips up a lot of cardholders: it only applies to incidental fees, not airfare. That means checked bag fees, seat upgrades, in-flight food, and similar charges on one designated airline you select at the start of each calendar year.

The legitimate trick here involves airline gift cards on certain carriers. Historically, purchasing gift cards directly from some airlines, most notably American Airlines, has coded as an incidental fee and triggered the credit. This approach works inconsistently and Amex can and does claw back credits it deems outside the terms, so it's worth understanding the risk. The safer and more reliable route is choosing an airline where you genuinely pay bag fees, then checking at least one bag per round trip.

You select your airline annually through your Amex account, and you can change it once per year during the enrollment window. If you're unsure which airline to choose, pick the one where you'll naturally incur the most fees over the year.

Don't forget: this credit resets each calendar year on January 1, not on your card anniversary.

The $200 Hotel Credit

This one is cleaner. You get $200 back on prepaid bookings made through American Express Fine Hotels and Resorts or The Hotel Collection. The credit applies automatically when you book through Amex Travel.

The key limitation is that you must book through Amex's portal, not directly with the hotel. The Hotel Collection requires a minimum two-night stay. Fine Hotels and Resorts has no minimum but typically features higher-end properties.

If you're planning any hotel stays in a given year, putting them through AmexTravel.com is a simple way to capture this credit while also earning 5x Membership Rewards points on prepaid hotel bookings. Before choosing which hotel program to prioritize, our guide on when a hotel rewards program is right for you is a useful starting point. That combination of credit plus elevated earn rate makes the Amex Travel portal genuinely competitive for hotel bookings.

The $240 Digital Entertainment Credit

This is a monthly credit worth $20 per month across a specific list of streaming and digital services. Qualifying services include Disney+, Hulu, ESPN+, Peacock, The New York Times, The Wall Street Journal, and a few others. The list updates periodically, so checking the current qualifying merchants on your Amex account page is worth doing annually.

If you subscribe to any of these services already, simply make sure you're paying with your Amex Platinum. The credit posts automatically. If you don't currently subscribe to any qualifying service, this is a reasonable push to trial one you've been curious about.

The credit will not stack across services in a way that gives you more than $20 per month, so if you're paying for both Disney+ and Peacock on the same card, you won't get $20 back on each. You get $20 total, applied to the first qualifying charge.

The $155 Walmart+ Credit

This credit covers the $12.95 monthly cost of a Walmart+ membership when you pay with your Amex Platinum. Walmart+ includes free shipping on Walmart orders, free grocery delivery (from stores with the service), and Paramount+ streaming at no extra charge.

The math here is simple: if you use Walmart at all, this is free money. The credit resets monthly, so you need to keep your Walmart+ membership active and paid on the Amex Platinum.

One note: Walmart+ at Sam's Club does not qualify. This is specifically for the standard Walmart+ membership billed monthly.

The $200 Uber Cash Credit

You receive $15 per month in Uber Cash, with a $20 bonus in December, for a total of $200 annually. The credit loads automatically each month but only applies to Uber rides and Uber Eats within the United States.

The critical detail most cardholders miss: you must add your Amex Platinum as a payment method within the Uber app and select it for payment. The Uber Cash won't appear until you've connected the card. Once connected, the $15 loads on the first of each month.

Monthly credits that go unused do not roll over, so if you skip Uber in a given month, that $15 is gone. For people who don't use Uber regularly, building a small monthly habit, such as a single Uber Eats order, ensures you capture the full $200.

The $300 Equinox Credit

This is one of the more polarizing Platinum credits because it only applies to Equinox gym memberships or the Equinox+ fitness app. If you're an Equinox member, it's a straightforward offset against a premium that would otherwise sting. If you're not, it's $300 effectively unavailable to you.

The $300 applies as $25 per month against qualifying Equinox charges. You do need to enroll through your Amex benefits portal before the credit will apply.

The $100 Saks Fifth Avenue Credit

This credit divides into two $50 increments: one for spending between January and June, and one for July through December. You need to spend $50 or more at Saks in each period to trigger the credit, and it won't apply to amounts under $50.

The workaround most cardholders use is buying Saks gift cards online. Saks.com purchases through the standard checkout count as eligible charges. So if you'd never walk into a Saks store but could use a $50 gift card toward a future purchase or gift, that's a clean way to extract the value. Beauty and fragrance items from Saks also tend to be well-regarded if you want to actually shop.

The reset schedule here is particularly easy to miss: it's a mid-year reset, not a calendar year reset. Note both the January 1 and July 1 dates in your calendar.

The $189 CLEAR Plus Credit

CLEAR is the biometric security lane service at airports and some stadiums. Your Amex Platinum covers the $189 annual membership cost in full. If you travel with any regularity and use airports that have CLEAR, this is one of the most consistently valuable credits on the card because you'd otherwise pay for it out of pocket.

If you don't travel enough to justify CLEAR, the credit goes unused. It's not one you can workaround.

Global Entry or TSA PreCheck Credit

This credit covers the application fee for either Global Entry ($100) or TSA PreCheck ($85) once every 4.5 years, which aligns with the standard renewal cycle. If you don't have either, Global Entry is the smarter choice since it includes TSA PreCheck automatically.

Amex Gold Statement Credits: Smaller Fees, Simpler Credits

The Amex Gold has a $325 annual fee and fewer credits, but they're notably easier to use for most people.

The $120 Dining Credit

You receive $10 per month at a rotating list of participating restaurants and food delivery services. As of early 2026, qualifying merchants include Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Milk Bar, among others. The list has shifted over the years, so verify the current qualifying merchants in your Amex account.

Grubhub tends to be the most universally accessible option since delivery is available in most markets. Setting up a monthly Grubhub order as a routine is the most reliable way to capture all $120.

One lesser-known angle: Resy restaurant reservations at participating locations sometimes qualify. Amex owns Resy, and certain dining experiences booked or paid through Resy trigger the dining credit. Check the fine print on specific restaurants if you're a Resy user.

The monthly credit does not roll over. Use it or lose it.

The $120 Uber Cash Credit

Like the Platinum, the Gold gives you $10 per month in Uber Cash for Uber rides or Uber Eats. The same rules apply: connect the card in the Uber app, use it before the month ends.

One card, one monthly Uber Cash balance. If you carry both the Amex Platinum and the Amex Gold, each card contributes its own Uber Cash to your account separately.

The $100 Resy Credit

This is a newer benefit on the refreshed Amex Gold. You get $50 back on qualifying Resy restaurant bookings twice per year for a total of $100. You must book the restaurant through Resy and pay with your Gold card.

If you dine out with any frequency in a major city, this is genuinely easy to use. Resy covers thousands of restaurants, and the credit applies to the actual dining bill, not a booking fee.

The Calendar System That Ensures You Never Miss a Credit

The most important single habit for maximizing Amex credits is maintaining a dedicated calendar. Here's what to track.

January 1 resets: Airline fee credit (Platinum), hotel credit (Platinum), digital entertainment credit starts fresh.

July 1 reset: First half of the Saks credit ends, second half begins.

Monthly on the 1st: Uber Cash loads (both Platinum and Gold), dining credit resets (Gold), digital entertainment credit resets (Platinum), Equinox credit resets (Platinum).

Mid-year check: Confirm you've used the first Saks $50 increment before July 1.

Annual check: Verify your designated airline is still the right choice for the upcoming year.

Setting 12 monthly calendar reminders at the start of each year takes about five minutes and pays for itself quickly. The reminder text should include the specific credit, the amount, and the merchant required. Vague reminders don't create action. Specific ones do.

How to Know If You're Truly Coming Out Ahead

Let's run the math on the Amex Platinum assuming you capture the major credits fully.

The $695 annual fee is offset by: $200 airline fee credit, $200 hotel credit, $200 Uber Cash, $155 Walmart+, $240 digital entertainment, $100 Saks credit, and $189 CLEAR. That totals $1,284 in value before accounting for the $300 Equinox credit, which only applies if you're an Equinox member.

Even without Equinox, if you can realistically use $1,284 in credits, you're netting $589 of profit on a $695 annual fee, before counting a single Membership Rewards point. And Amex Membership Rewards points are among the most valuable transferable currencies available, which makes the earning side of both cards worth paying close attention to as well.

The honest caveat: not everyone can use every credit. If you don't use Walmart+, don't need CLEAR, and don't stream any qualifying services, your realizable value drops significantly. The right approach is to audit which credits you'll genuinely use before applying, then build habits around the credits you'll need to stretch toward.

For the Amex Gold, the $325 annual fee is offset by $120 dining, $120 Uber Cash, and $100 Resy credits, totaling $340 in credits alone, plus a best-in-class earning rate of 4x at restaurants and U.S. supermarkets.

Common Mistakes That Cost Cardholders Hundreds of Dollars

Waiting until December to use annual credits. People tend to procrastinate, then scramble at year-end. Several credits reset on January 1, and December is chaotic. Front-load your credit usage where possible.

Not connecting cards in the Uber app. The Uber Cash credits from both the Platinum and Gold are invisible until you add the card as a payment method in the app. This is the single most common reason cardholders leave Uber Cash unredeemed.

Selecting the wrong airline for the fee credit. If you fly United most of the year but designated American at the start of the year, none of your United bag fees will trigger the credit. You can change your designated airline once per year during the change window. Check American Express's current terms for when that window is open.

Treating Saks as an all-or-nothing credit. Some cardholders skip the Saks credit because they don't shop there. Using it for a $50 online purchase, a gift card, or a beauty product you'd buy anyway is a straightforward way to avoid leaving $100 on the table annually.

Forgetting mid-year resets. The Saks credit is the main one here. Many cardholders miss the July 1 transition and lose the first $50 increment.

Making the Decision: Platinum, Gold, or Both

If you're weighing whether to carry one or both cards, the math often favors both for people who travel several times per year and eat out regularly. The credits don't fully overlap, and the Membership Rewards points earned on the Amex Gold's elevated dining and grocery categories pair well with the Platinum's premium travel benefits. To see how those points stack up in real value, our breakdown of what Amex points are worth and how to transfer them is the natural next read.

The catch is complexity. Two annual fees and two sets of credits to track is more mental overhead than most people want. If you'd rather simplify, the Gold is the stronger everyday card for most people, while the Platinum makes the most sense for frequent travelers who can realistically use the Uber Cash, airline fee credit, CLEAR, and hotel credits.

Carrying both only makes sense if you're genuinely going to track and use the credits on each card. Paying $1,020 in combined annual fees for cards you're not maximizing is the worst outcome. If you're newer to travel rewards and still building your card strategy, it's also worth considering whether a no-annual-fee card fills your day-to-day gap before adding a second premium card to the mix.

Frequently Asked Questions

Do Amex statement credits roll over if I don't use them?

No. Monthly credits like the Uber Cash and dining credits expire at the end of each calendar month with no rollover. Annual credits like the airline fee credit and hotel credit expire at the end of the calendar year. Once they're gone, they're gone.

Can I use the Amex Gold dining credit at any restaurant?

No. The dining credit only applies at a specific list of qualifying merchants that Amex publishes in your account benefits section. Grubhub, The Cheesecake Factory, Milk Bar, Goldbelly, and Wine.com are among the most recent qualifying options. This list changes periodically, so check it at the start of each year.

Does the Platinum hotel credit apply to direct hotel bookings?

No. The $200 hotel credit only applies to bookings made through American Express Fine Hotels and Resorts or The Hotel Collection, both of which you access through AmexTravel.com. Direct bookings with the hotel do not qualify, regardless of which card you pay with.

Can I split my Saks credit across two separate purchases under $50 each?

No. The Saks credit requires a single transaction of $50 or more to trigger. Two $25 purchases will not combine to generate the credit. You need to spend at least $50 in a single transaction during each half-year period.

What happens to unused Amex credits when I cancel my card?

They disappear. There's no payout and no grace period. If you're planning to cancel an Amex card, use all available credits before you close the account. The airline fee credit, hotel credit, and Saks credit are the ones most worth using proactively before cancellation. For more on what happens to your points specifically, see our guide on what happens to Amex points when you cancel your card.

Is the Amex Platinum annual fee worth it if I only use some credits?

It depends on which credits you use. If you regularly capture the Uber Cash ($200), airline fee credit ($200), and digital entertainment credit ($240), that's $640 in value against a $695 fee, before any points earnings. Add CLEAR ($189) and you're well ahead. The card stops being worth it when you can only realistically use one or two credits totaling less than $695.

Conclusion

The Amex Platinum and Amex Gold aren't just credit cards. They're benefit systems that reward cardholders who pay attention and penalize those who don't. The $1,500-plus in combined annual credits isn't marketing fiction. It's real money that's been allocated to your account and will expire unused if you don't claim it.

The work required is minimal: a few calendar reminders, the right merchants set up as recurring charges, and a once-a-year audit of your credit designations. People who treat that as a ritual come out hundreds of dollars ahead each year. Those who don't fund Amex's profitability.

If you're ready to start capturing full value, the Amex Gold is the better starting point for most people. Its dining and grocery earning rates are genuinely elite, and the $340 in credits is straightforward to use. The Amex Platinum rewards the more dedicated optimizer who travels frequently and is willing to track a more complex set of benefits.

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