How to maximize benefits with the American Express Platinum

The American Express Platinum Card® is one of the most benefits-rich premium travel rewards cards available.

But its value doesn't just lie in the Amex Membership Rewards points you can earn with it.

The Amex Platinum's true utility comes from its impressive slate of benefits — both travel-related and otherwise — that can be worth thousands of dollars each year.

By taking advantage of even just a few of the card's benefits, you can easily offset its $895 annual fee (see rates and fees).

But you actually have to use those benefits and, what's more, maximize them to unlock the card's full potential.

Here are the strategies I'd use to get the most value from the Amex Platinum.

American Express Platinum Card: Find out your offer — you may be eligible for as high as 175,000 Membership Rewards points after spending $12,000 on purchases in your first six months of membership. Welcome offers vary, and you may not be eligible for an offer.

First things to do when you get the Amex Platinum Card

Before you start maximizing the card, knock out a few setup tasks. Several Platinum benefits require enrollment or activation, and forgetting to do so can mean leaving value on the table.

When you receive your American Express Platinum Card:

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• Enroll in the eligible statement-credit benefits you plan to use
• Select an eligible U.S. airline for your annual up to $200 airline incidental fee statement credit
• Activate complimentary Hilton Honors Gold status, Marriott Bonvoy Gold status and Leading Hotels of the World Sterling status.
• Add your Platinum Card to your Uber account in order to get up to $15, plus an extra $20 in December, in Uber Cash for U.S. rides and Uber Eats
• Enroll in Priority Pass

Choose the right airline for the incidental fee credit

Each year, Amex Platinum: cardholders receive up to $200 in statement credits toward eligible incidental fees on one selected U.S. airline for charges such as checked bag fees, seat selection fees and onboard purchases. Enrollment is required.

The strategy: Don't automatically select the airline you fly most.

If you already have elite status or a cobranded credit card, you may already get the exact perks (checked bags, preferred seats, lounge passes, etc.) that this incidental fee credit is meant to cover.

Instead, pick an airline you fly only occasionally, so that you will actually need the card to cover some small charges here and there.

Related: How to use the Amex Platinum $200 airline incidental fee credit

Stack Amex Fine Hotels + Resorts credits and perks

When you use your Amex Platinum: to book an eligible prepaid Fine Hotels + Resorts stay through American Express Travel®, you can receive benefits like availability-based upgrades, free daily breakfast for two, guaranteed 4 p.m. late checkout and a $100 experience credits to use toward on-property charges like dining or the spa, among other perks.

The Platinum also offers up to $600 in statement credits each calendar year, split into up to $300 from January through June and another up to $300 from July through December, on eligible prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel. The Hotel Collection requires a minimum two-night stay.

The strategy: Look for Fine Hotels + Resorts properties where you'll naturally use the included on-property benefits to stretch your overall value on the stay.

That allows you to stack the statement credit with perks you'd otherwise have to pay for, like daily breakfast.

Related: How I turn my Amex Platinum hotel statement credit into even more value

Set reminders for Uber Cash and Resy statement credits

Some of the easiest Amex Platinum benefits to lose are the ones that expire periodically.

Cardholders receive up to $15 in Uber Cash each month — plus an extra up to $20 in December — valid for rides or Uber Eats orders in the U.S. To use the benefit you have to first add your Amex Platinum to your Uber account, but you can then select any Amex Card as the payment method. Just remember to make sure Uber Cash is toggled on.

Plus, you get up to $120 in statement credits each calendar year toward an eligible auto-renewing Uber One membership.

The Amex Platinum card also offers an outsize benefit that can potentially cover nearly half its annual fee each year.

Cardmembers receive up to $100 in statement credits each quarter when using their Amex Platinum to pay for meals at qualyfing U.S. Resy restaurants. Enrollment is required. No reservation is required.

The strategy: Set recurring calendar reminders before these benefits expire.

Uber Cash doesn't roll over from month to month, so I set a reminder near the end of each month. For Resy, set reminders for March, June, September and December if you haven't already used that quarter's credit.

The other thing to keep in mind is that you'll only earn 1 point per dollar on dining with the Platinum Card, so try to use this credit for a meal that's as close to $100 as possible and then use another card that earns a category bonus on dining for your other meals.

Related: Don't overlook Resy: How to maximize dining experiences and save money with this Amex benefit

Maximize your airport security benefits

Amex Platinum carholders can enroll and receive a statement credit of up to $219 per year for Clear+ membership (subject to automatic renewal) so you can use the (often faster) dedicated lanes at airport security and skip the standard identification check.

You'll also get up a $120 statement credit for Global Entry once every four years, or an up to $85 statement credit for a five-year TSA PreCheck membership.

The strategy: If you already have Global Entry or TSA PreCheck, you can use your eligible card to pay for someone else's application and still trigger the applicable statement credit.

For Clear+, check whether you qualify for a discounted membership through an airline loyalty program or another benefit. If you do, you may be able to stretch the Platinum's Clear+ statement credit further by adding eligible family members to your account.

Related: Best credit cards for Global Entry and TSA PreCheck

Use your digital entertainment and Walmart+ benefits strategically

One of the Amex Platinum's easiest benefits to use is up to $300 in statement credits each year (up to $25 per month) for eligible subscriptions with:

• Disney+ and the Disney+ Bundle
• ESPN+
• Hulu
• Paramount+
• Peacock
• The New York Times
• The Wall Street Journal
• YouTube Premium and YouTube TV

Enrollment required.

It also offers up to $12.95 plus applicable taxes in statement credits each month for a Walmart+ membership, excluding Plus Ups (up to $155 annually) when you pay for your monthly Walmart+ membership with your card (enrollment required; subject to automatic renewal).

Among other benefits, Walmart+ members can choose between a Paramount+ Essential subscription (separate enrollment required) or a Peacock Premium subscription at no extra cost.

The strategy: Don't subscribe to something just because your card offers a credit, plus avoid paying twice for the same streaming service.

If you're using Walmart+ to get Paramount+ or Peacock, don't also use your Platinum's digital entertainment credit toward that same subscription.

Instead, use the monthly digital entertainment credit for other eligible services you're already paying for that add up most closely to $25 each month. The best part of this is you just set it and forget it.

Related: The best credit cards for streaming subscriptions

Check your lounge options before you fly

One of the Amex Platinum's standout benefits is access to the American Express Global Lounge Collection, which includes Amex Centurion and Priority Pass lounges (enrollment required) as well as Delta Sky Clubs (when flying Delta Air Lines; limited to 10 annual visits).

The strategy: You don't have to do too much work to maximize (and enjoy) this perk. Just remember to enroll for Priority Pass so you can access over 1,900 lounges around the world, and carry your Platinum Card with you when you travel so you can access those Centurion Lounges and Delta Sky Clubs.

If you have a choice between a Centurion Lounge and a Sky Club, pick the Centurion Lounge since visits are unlimited.

Activate your complimentary hotel and rental car status

The Amex Platinum provides complimentary hotel elite status with Hilton Honors, Marriott Bonvoy and Leading Hotels of the World.

It also provides car rental elite status with Avis Preferred Plus, Hertz Gold Plus Rewards President's Circle and National Car Rental Emerald Club Executive.

Enrollment is required.

The strategy: Enroll in all the statuses you expect to use as soon as you get the card.

This way, in case there's a processing delay you are ready to go for your trip.

Once enrolled, you can actually use another card that earns bonus points on hotel and car bookings, or that offers primary auto rental insurance while still enjoying elite status benefits.

Related: The best credit cards to jump-start elite status

Don't force yourself to use every lifestyle credit

The Amex Platinum also offers statement credits for eligible purchases with:

• Oura: Receive up to a $200 Oura statement credit per calendar year (valid only for hardware purchases).*
• Equinox: Receive up to $300 in Equinox statement credits per calendar year to use on Equinox gym and Equinox+ app memberships (subject to auto-renewal).*
• SoulCycle: Receive up to $300 in statement credits per calendar year toward the purchase of a SoulCycle bike (up to 15 bikes per calendar year); must be enrolled in an Equinox+ membership to be eligible for this benefit.*
• Lululemon: Receive up to $300 in Lululemon statement credits per calendar year (up to $75 per quarter) at U.S. stores (excluding outlets) and online.*

*Enrollment required

The strategy: Don't change your spending habits solely to use a credit.

While all are potentially valuable, some are harder to maximize than others. For instance, you might not get that SoulCycle credit unless you're buying an expensive bike and are enrolled as an Equinox+ member. Or you might already have an Oura ring and don't need another.

Prioritize benefits for purchases you'd make anyway. For periodic benefits like the Lululemon credit, set a reminder before the credit expires. And before buying something online, check a shopping portal such as Rakuten to see whether you can earn additional rewards on the same purchase.

Leverage Membership Rewards transfer partners

You can often get the strongest value from Membership Rewards points by transfering them to the program's airline and hotel partners for high-value redemptions rather than redeeming directly through Amex Travel.

The strategy: Before redeeming points directly through Amex Travel, compare the cost of transferring your points to a partner.

Take advantage of periodic transfer bonuses to bank even more airline miles or hotel points than you would normally.

You may also be able to transfer Membership Rewards points to a partner program and use those miles to book another airline's flights for fewer points than booking through that airline's own loyalty program.

Related: Amex Membership Rewards transfer partners: Redeem your points with airlines and hotels

Don't overlook travel protections

You hope nothing goes wrong on your trip, but if it does, the Amex Platinum offers some robust travel protections, including:

• Trip delay insurance**
• Trip cancellation/interruption insurance**
• Extended warranty protection***
• Purchase protection***

**Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by New Hampshire Insurance Company, an AIG Company.

***Eligibility and benefit levels vary by card. Terms, conditions and limitations apply. Visit americanexpress.com/benefitsguide for details. Policies are underwritten by AMEX Assurance Company.

The strategy: Don't choose which card to use for a trip based on earning rates alone.

Consider the protections you'd receive if something goes wrong. In some cases, earning slightly fewer rewards may be worthwhile if paying with the Platinum provides coverage you value.

Related: The best credit cards with travel insurance

Common mistakes when using Amex Platinum benefits

Even with the right strategy, a few simple mistakes can keep you from getting the most from your Amex Platinum:

• Forgetting to enroll: This is often as simple as clicking the "Enroll" button on the benefits description page in your online account.
• Not selecting an airline: You have to remember to actually select an airline each year in January, not just the first year you have the card.
• Letting credits expire: Set reminders for monthly, quarterly and semiannual benefits that don't roll over.
• Getting poor value from Membership Rewards: Compare redemption options, including transfer partners, before using your points.

Bottom line

The American Express Platinum is one of the most benefits-rich premium cards ever created, but you don't need to maximize each one.

Focus first on benefits that overlap with spending and travel you'd already do. Enroll in the perks you plan to use, set reminders for credits that expire periodically and look for opportunities to stack benefits rather than spending extra money simply to use them.

Luckily, with a little bit of planning, you should be able to get the most out of the card's myriad perks with minimal effort.

To learn more about the card, read our full review of the Amex Platinum.

American Express Platinum Card: Find out your offer — you may be eligible for as high as 175,000 Membership Rewards points after spending $12,000 on purchases in your first six months of membership. Welcome offers vary, and you may not be eligible for an offer.

For rates and fees of the Amex Platinum Card, click here.