The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
Chris Nelson is a credit cards writer for TPG. He specializes in budget travel, hotels, earning elite status through minimal spending and redeeming points for maximum value.
TPG's director of travel content Eric Rosen has used points and miles to visit some of the world's most remote corners, including swimming with whale sharks off Western Australia's Ningaloo Coast, exploring the wilds of Botswana's Okavango Delta and tasting the high-altitude wines of Argentina's Mendoza region.
also contributed to this story
July 10, 2026 • 11 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.
Editorial note: This is a recurring post, regularly updated with new information and offers.
Editorial disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
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Quick summary
Premium travel rewards cards often carry high fees but offer extensive benefits and statement credits that can offset these costs.
Key perks include annual credits for hotels, dining, rideshare, digital entertainment, fitness, expedited airport security, and more, with potential value exceeding $3,000 per year if fully utilized.
Additional benefits include airport lounge access, hotel and rental car elite status, and comprehensive travel protections, making these cards especially valuable for frequent travelers.
The decision to hold such a card depends on your ability to use a significant portion of the credits and perks, as infrequent travelers may find better value with lower-fee options.
What to consider
Many statement credits require enrollment and have specific usage restrictions, such as minimum stay requirements or eligible merchants.
Some benefits, like lounge access and hotel credits, are best suited for those who travel regularly and can take advantage of luxury offerings.
If you do not anticipate using at least a third of the available credits, the high fee may not be justified.
What you'll miss from the article
A detailed breakdown of each statement credit and how to maximize the value of premium travel rewards cards for your lifestyle.
Generated by AI with support from our editorial team.
When it comes to premium travel rewards cards, consumers have several options. Most of these cards charge high annual fees, but they have benefits, statement credits and bonus-earning categories to help offset those fees.
The American Express Platinum Card® is one of the top premium cards currently on the market, boasting a long list of travel, dining and lifestyle statement credits, and carries a $895 annual fee (see rates and fees).
But is it worth shelling out almost a thousand dollars? Here's how to decide whether it's worth a spot in your wallet.
Key Amex Platinum statement credits and perks
The Amex Platinum offers multiple statement credits that can help offset the annual fee. These credits amount to over $3,000 in value per year, more than triple the card's annual fee.
Let’s examine each statement credit and how you can make the most of it.
By fully using this statement credit, you could cover more than two-thirds of the annual fee, bringing the effective cost down to just $295. It's important to note that hotels in the program tend to be on the pricier side, as most are luxury hotels.
Resy
Potential annual value: Up to $400
Cardmembers receive an annual Resy statement credit of up to $400 (up to $100 per quarter; enrollment required). To use this statement credit, just pay with your Amex Platinum at an eligible U.S. Resy restaurant. No reservation is required.
MEREDITH JENKS/AMERICAN EXPRESS
This statement credit alone almost covers half of the annual fee. It is incredibly easy to use, and you may not even realize you're using it. More locations are on Resy than you may think, with over 25,000 in the U.S.
Uber Cash
Potential annual value:Up to$200
Cardmembers receive up to $200 in Uber Cash per calendar year toward rides and Uber Eats orders in the U.S. (You must link your Amex Platinum to your Uber account to take advantage of this benefit.)
Disney+, ESPN streaming services and Hulu (or a Disney+ Bundle)
Paramount+
Peacock
The New York Times
The Wall Street Journal
YouTube Premium
YouTube TV
You can mix and match how you'd like to take advantage of this, but you'll earn up to $25 in monthly statement credits. Enrollment required.
Lululemon statement credit
Potential annual value: Up to $300
The card's quarterly up to $75 Lululemon statement credit can be used at U.S. Lululemon stores (excluding outlets) and online. Enrollment required.
DANYAL AHMED/THE POINTS GUY
If you don't shop at Lululemon, the brand offers plenty of items you could gift to loved ones.
Equinox statement credit and SoulCycle at home
Potential annual value:Up to$300
Continuing on with the fitness- and lifestyle-focused statement credits, when you pay for your eligible Equinox membership or Equinox+ membership, you'll receive up to $300 in statement credits each year (enrollment required; subject to auto-renewal).
EQUINOX/FACEBOOK
You can also use this benefit to receive up to $300 in statement credits toward the purchase of a SoulCycle bike (up to 15 bikes per calendar year; you must be enrolled in an Equinox+ membership to be eligible to receive this benefit; purchases must be made through this link to receive the statement credit).
SoulCycle bikes retail for at least $2,500, so this statement credit effectively functions as a $300 discount. Bikes must be full-priced to receive the statement credit (unless you take advantage of an Amex Offer on SoulCycle).
Clear statement credit
Potential annual value: Up to $219
Amex Platinum Card members can also save time and stress when transiting through airports with the card's annual up to $219 Clear+ statement credit (enrollment required; subject to auto-renewal).
SUMMER HULL/THE POINTS GUY
Clear+ lets you use biometric kiosks for identification and skip showing your travel identification documents to a Transportation Security Administration agent. The membership program, paired with TSA PreCheck, is an absolute game-changer when flying.
This is one of the most basic benefits of the Amex Platinum. Each calendar year (not account anniversary), cardmembers can get up to $200 back in statement credits toward incidental fees on a single U.S. airline they designate. Enrollment required.
ZACH GRIFF/THE POINTS GUY
Oura statement credit
Potential annual value: Up to $200
Cardmembers can enroll and receive an Oura statement credit of up to $200 annually. (This benefit can only be used on hardware purchases.)
NATTRASS/GETTY IMAGES
Oura rings are smart rings that track a variety of health and fitness data. Think of an Apple Watch, just in ring form.
Walmart+ statement credit
Potential annual value: Up to $155
Another benefit is up to $155 in annual statement credits (up to $12.95 per month plus tax) for a monthly Walmart+ membership (enrollment required; subject to auto-renewal; Plus Ups are not eligible).
JAKUB PORZYCKI/NURPHOTO/GETTY IMAGES
Walmart+ membership includes the option for a Peacock or Paramount+ subscription (separate enrollment is required for Paramount+), so be sure not to use your digital entertainment statement credit on one of those services unless you'd like to upgrade to an ad-free version.
Global Entry or TSA PreCheck statement credit
Potential annual value: Up to$30 a year
Frequent travelers will enjoy these programs offering expedited airport security or expedited entry into the U.S.
When you pay the $120 Global Entry application fee every four years using your card or the up to $85 for a five-year TSA PreCheck membership with your card, you'll receive the fee back as a statement credit (up to $120).
DANIEL ACKER/BLOOMBERG/GETTY IMAGES
Other key benefits include:
Bonus categories: Cardmembers earn 5 points per dollar spent on airfare when booked directly with airlines or with American Express Travel (on up to $500,000 of these purchases per calendar year, then 1 point per dollar spent) and 5 points per dollar spent on prepaid hotels booked on amextravel.com, including prepaid Amex Fine Hotels + Resorts bookings made online.
Lounge access: Eligible cardmembers receive access to the Global Lounge Collection, which offers the best airport lounge access on the market. It includes a Priority Pass Select membership and access to Delta Sky Clubs (access is limited to 10 visits each year unless you spend $75,000 or more in a calendar year) and Centurion, Escape, Aspire and Plaza Premium lounges, among others.
Rental car benefits: Cardmembers receive complimentary rental car elite status with Avis, Hertz and National. Plus, receive discounts when booking through Hertz. You'll also receive rental car insurance as a cardmember.*
Travel protections: Cardmembers receive travel protections, such as trip cancellation, interruption and delay insurance.**
(Enrollment is required for select benefits.)
*Eligibility and benefit level varies by card. Not all vehicle types or rentals are covered, and geographic restrictions apply. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company. Coverage is offered through American Express Travel Related Services Company, Inc.
**Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.
Plus, you can get immense value from the card's lucrative welcome offer.
New cardmembers can find out their offer and may be eligible for as high as 175,000 bonus points after spending $12,000 on purchases in the first six months of card membership. (Welcome offers vary, and you may not be eligible for an offer.)
Based on TPG's July 2026 valuations, this welcome offer is worth up to $3,500.
Even if you use only a third of the card's benefits, you'll likely come out ahead. Just using the hotel, Resy and airline statement credits alone more than covers the annual fee without even considering any of the other benefits.
If you're a frequent traveler, the premium travel perks like lounge access and elite status also make this card worth the annual fee.
However, the answer to this question really depends on your travel and lifestyle habits. If you don't travel frequently or don’t think you’ll use at least a third of the card’s statement credits, the annual fee most likely won't be worth it, and you'll be better suited with a card with a lower annual fee.
The Amex Platinum has a $895 annual fee, but for many travelers, the card's benefits will more than offset this charge.
If you can maximize all of the Amex Platinum's annual statement credits, you'll get over $3,000 in value. For frequent travelers, the card’s other benefits can be even more valuable.
If the annual fee isn't worth it for you but you're still interested in an American Express rewards card, consider the American Express® Gold Card. It's great for foodies who eat out or order delivery often.
For rates and fees of the Amex Platinum, click here.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
