5 ways you might be missing the value of your Amex Platinum Card
Editor's Note
Even though The Platinum Card® from American Express has a steep $895 annual fee (see rates and fees), this premium travel card still boasts enough perks that the annual fee can be worth it — if you use them. Plus, the card has a history of solid introductory offers, ranging in value from $1,200 to $3,500, according to TPG's October 2024 valuations.
The card also offers the following perks each year (some of which require enrollment in advance):
- Up to $600 in hotel statement credits (up to $300 biannually)
- Up to $300 in digital entertainment statement credits (up to $25 monthly)
- Up to $300 in Equinox statement credits
- Up to $209 in Clear+ membership statement credits (subject to auto-renewal)
In addition to a plethora of statement credits, the Platinum Card offers airport lounge access, elite status with Hilton Honors and Marriott Bonvoy (enrollment required), and valuable Membership Rewards points that you can use for flights, hotels and other hospitality and travel experiences.
Additionally, you'll enjoy American Express Concierge — a service that can help secure reservations, plan your flights and secure hard-to-get symphony tickets for that European holiday.
You'll also enjoy shopping protections and travel protections with your card.
Maximizing the Amex Platinum card can take some effort, but it pays off. Here are some ways you may be missing value with your Platinum card.
Related: American Express Platinum card review
Take advantage of the welcome offer
With the Amex Platinum card, find out your offer and see if you are eligible for as high as 175,000 Membership Rewards Points after spending $12,000 on purchases within the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer. TPG values this bonus at up to $3,500, per the October 2024 valuations.
The key to maximizing your card's value is to reach the spending threshold to earn the bonus. By shifting all of your spending (utilities, meals, rent, etc.) onto this card until you complete the spending requirement, you'll add extra value to your card in the first year.
Related: 10 ways to meet credit card bonus minimum spending requirements
Understand bonus earning opportunities
While the Platinum Card is a great card for travel expenses, it's unfortunately not your best card for everyday purchases.
You'll earn points on the Platinum card as follows:
- 5 points per dollar on flights booked directly with airlines or with American Express Travel® (on up to $500,000 of these purchases per year, then 1 point per dollar)
- 5 points per dollar on prepaid hotels booked with Amex Travel
- 1 point per dollar on other purchases
This makes the Amex Platinum one of the best cards for booking flights or paying taxes and fees on award tickets.
Related: 10 things to do when you get the Amex Platinum
Access exclusive VIP experiences
The Platinum Card grants access to VIP experiences and early access to ticket presales, as well as events with the Premium Events Collection. These can help you get into popular events that are likely to sell out.
The Premium Events Collection (previously By Invitation Only) is an exclusive benefit for Platinum and Centurion cardmembers that offers access to year-round, customized, once-in-a-lifetime events plus experiences for "dining, entertainment, fashion and sports," per the benefit's website.
The information for the Centurion card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Related: Who should (and who shouldn't) get the American Express Platinum?
Utilize your travel perks
This card is an excellent travel companion and provides value on the road or in the skies. The key is to use all the included services.
First, take advantage of $120 in credit for Global Entry every four years or up to $85 in credit for TSA PreCheck every 4 1/2 years and up to $209 in statement credits to cover the cost of your annual Clear+ membership fee (subject to auto-renewal). Additionally, you can use up to $200 a year for airline fees with your preferred airline; these credits can cover expenses like inflight meals and beverages, checked-bag fees or inflight Wi-Fi. Cardmembers also can use up to $300 biannually in hotel statement credits and up to $200 per year in Uber Cash (up to $15 per month and a bonus up to $20 in December; valid on rides and Uber eats orders in the U.S.). Enrollment is required in advance for some benefits. Add your Amex Platinum Card to your Uber account and pay with any Amex card.
You also can relax in style before your flight with access for eligible cardmembers to the American Express Global Lounge Collection, including more than 1,400 airport lounges around the globe. These include Amex Centurion lounges and Delta Sky Clubs (though you must be on a same-day Delta flight, and you'll be limited to 10 annual visits). It also includes Priority Pass lounges (and enrollment is required).
Once you reach your destination, your Platinum Card offers additional luxury travel perks. You can enroll for complimentary Hilton Honors Gold Status and Marriott Bonvoy Gold Elite status, and you can take advantage of the American Express Fine Hotels + Resorts program. This program offers room upgrades upon arrival (when available), daily breakfast for two, guaranteed 4 p.m. late checkout, noon check-in (when available), complimentary Wi-Fi and a $100 experience credit.
You can also access The Hotel Collection, which offers room upgrades and hotel credits for dining, spa and resort activities when you stay for two or more nights at select hotels. (A minimum two-night stay is required.)
Related: A comparison of luxury hotel programs from credit card issuers: Amex, Chase and Capital One
Don't assume you receive perks automatically
To obtain the most value from the Platinum Card, you must enroll in the offers you want. This is a simple process: Log into your Amex account, and pick your offers.
You need to manually enroll for elite status with car rental partners and hotel elite status programs; you also need to enroll to receive the up to $209 annual Clear+ statement credit and the up to $25 monthly digital entertainment statement credit. Don't assume you're automatically enrolled for these benefits when you receive your card.
The same applies to using Amex Offers for extra points or cash back (as a statement credit). These targeted offers can provide valuable rebates or bonuses on your purchases throughout the year, but you must add them to your card before making an eligible purchase.
Related: The secret to getting more (and sometimes better) Amex Offers on your card
Bottom line
You need to use the benefits to justify the Amex Platinum card's hefty $895 annual fee. The best approach is to reach your spending requirement to capture the welcome offer, enroll in the programs that will enhance your travel experience and clearly understand the card's perks. While it may not be possible to use all of them, try to evaluate which you can use and whether they're enough to make the annual fee worth it.
Some of the Platinum Card's benefits are obvious, like access to airport lounges. Others are more easily overlooked, and some benefits require enrollment before using them. If you understand what your card offers, you shouldn't miss value from the Amex Platinum card going forward.
Apply here: The Platinum Card from American Express - Find out your offer and see if you are eligible for as high as 175,000 Membership Rewards Points after spending $12,000 on purchases within the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.
For rates and fees of the Amex Platinum card, click here.
TPG featured card
at Bilt's secure site
Terms & restrictions apply. See rates & fees.
| 1X | Choose to earn up to 1X points on rent and mortgage payments with no transaction fee |
| 2X | Earn 2X points + the option to earn 4% back in Bilt Cash on everyday purchases |
Pros
- Choice to earn up to 1 Bilt Point per dollar spent on rent and mortgage payments
- Elevated everyday earnings with both Bilt Points and the option to earn Bilt Cash
- $400 Bilt Travel Portal hotel credit per year (up to $200 biannually)
- $200 Bilt Cash annually
- Priority Pass membership
- No foreign transaction fees
Cons
- Moderate annual fee
- Designed primarily for members seeking a premium, all-in-one card
- Earn points on housing with no transaction fee
- Choose to earn 4% back in Bilt Cash on everyday spend. Use Bilt Cash to unlock point earnings on rent and mortgage payments with no transaction fee, up to 1X.
- 2X points on everyday spend
- $400 Bilt Travel Hotel credit. Applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings.
- $200 Bilt Cash (awarded annually). At the end of each calendar year, any Bilt Cash balance over $100 will expire.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 90 days + $300 of Bilt Cash.
- Priority Pass ($469/year value). See Guide to Benefits.
- Bilt Point redemptions include airlines, hotels, future rent and mortgage payments, Lyft rides, statement credits, student loan balances, a down payment on a home, and more.