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The Platinum Card® from American Express can definitely be worth the annual fee, depending on how you use it and what benefits you value most. At $695, the Amex Platinum annual fee is high, but the perks are also premium. Here’s a breakdown of what you’re getting for that fee:
Travel Perks
- Airport Lounge Access: The Platinum card gives you access to Amex’s Centurion Lounges, as well as Priority Pass lounges, which can be a game-changer if you travel a lot.
- $200 Airline Fee Credit: You get up to $200 in credits for incidental fees (like checked bags, food, or in-flight entertainment) on a selected airline each year.
- Global Entry/TSA PreCheck Credit: You can receive a statement credit for the application fee for Global Entry or TSA PreCheck, which is worth $100 or $85, respectively.
- Fine Hotels & Resorts Program: This can give you room upgrades, daily breakfast for two, late check-out, and more at over 1,000 luxury properties.
IMO
- Airport Lounge Access: I have several cards that will get me lounge access and this one, by far, offers more options. Only negative is that if the lounge is not a “Priority pass” lounge, you don’t get guests (without heafty spend). So if you are traveling with a group, everyone needs a card. An authorized user is acceptable but it must be the one you pay the $195 annual fee.
- $200 Airline Fee Credit: many ways to use it, worth it!
- Global Entry/TSA PreCheck Credit: worth it if you need it. I have quite a few cards that offer this perk so I should never have to pay
- Fine Hotels & Resorts Program: it is a $200 annual credit on the personal card, so yeah, worth it.
Rewards and Points
- Earn 5X points on flights booked directly with airlines or on amextravel.com, and on prepaid hotels booked through amextravel.com.
- 3X points on other travel-related purchases (like Uber rides or transit).
- 1X point on all other purchases.
- Amex Membership Rewards points can be redeemed for travel, shopping, or transferred to a wide array of airline and hotel partners, which can be very valuable if you’re good at maximizing points.
IMO
- Membership reward points are better earned for everyday spend on cards like the Blue Cash Everyday® Card from American Express that earns 2X on everything or the American Express® Gold Card that earns 4x at restaurants and grocery stores.
Other Benefits
- $100 Saks Fifth Avenue Credit: Split up into two $50 credits (one in the first half of the year and one in the second half), this can be used for shopping, though it’s limited to Saks Fifth Avenue.
- Concierge Service: Access to a 24/7 concierge for booking restaurants, tickets, and travel—this can be super convenient if you’re someone who values premium service.
- Hotel Elite Status: Complimentary gold status with Marriott Bonvoy and Hilton Honors, which can get you perks like room upgrades or late check-out.
- Virtual Vet Access
IMO
- Saks has made it difficult to redeem this credit unless you are physically close to one. I have only used the concierge service once and I did not see any difference than if I didn’t use it and Hilton and Marriott Gold status that the card offers will get you little to nothing in the US and MAYBE a small token internationally but generally not worth it.
Other Considerations
- No Foreign Transaction Fees: Ideal for international travelers.
Final Thoughts: Is the American Express Platinum Card Worth the Annual Fee?
I don’t use the Amex platinum for everyday spend but I still find it completely worth the annual fee because of all the perks it offers. The card offers an easy $400 credit without really lifting a finger. If you add only one lounge visit per year that $400 credit becomes $450, at the very minimum, bringing the annual fee to $245. If you’re a traveler who can take advantage of the lounge access, airline credits, and other luxury benefits, the Platinum card can offer much more in value than the annual fee.
