3 Things to Know Before You Apply for the Amex Platinum Card
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The Platinum Card® from American Express is one of the most well-known premium travel cards on the market, and for good reason. It comes with a high annual fee of $695 (see rates and fees), but it also has a long list of perks to make up for it. (American Express is a Motley Fool Money advertiser.)
Before you apply, here's what you need to know about the credit score you'll need, how the welcome bonus works, and how to get the most out of your new card.
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Good/Excellent (670-850)
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Rewards Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®. 1X Membership Rewards® Points on other purchases. Terms apply.
1X-5X Membership Rewards® Points
Annual Fee
$695
Welcome Offer You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
As High As 175,000 points. Find Out Your Offer.
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This luxury travel card has some of the most prestigious perks you'll find — access to over 1,400 airport lounges, elite status with Hilton and Marriott Bonvoy (enrollment required), and spending credits worth over $1,500 in value every year. Just be ready for the hefty annual fee, which can be offset in the first year with a welcome offer. Terms apply.
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- Big welcome offer
- Substantial spending credits
- Airport lounge access
- Hotel benefits
- Flexible travel points
- Annual fee
- Limited bonus categories
- Spending credits can be complicated to manage
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- You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
- Enjoy the benefits of the Global Lounge Collection, with over $500 of annual value if you visit Centurion Lounges and each of our partner lounges including Delta Sky Club® lounges when flying an eligible Delta flight (subject to visit limitations) , select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges, and enroll in Priority Pass Select. See terms.
- A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart. Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive one statement credit for up to $12.95 (plus applicable taxes. Plus Ups not eligible) each month. Free Shipping excludes most Marketplace items, freight & certain location surcharges. Paramount+ Essential plan only, separate registration required.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- $200 Uber Cash: Platinum Card® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.
- $199 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. Receive up to $199 in statement credits per calendar year after you pay for your CLEAR Plus Membership (subject to auto-renewal) with the Platinum Card®.
- Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
- Use Global Dining Access by Resy to access premium dining experiences. Receive Priority Notify and unlock insider access to some of the world's most sought-after restaurants with Global Dining Access by Resy. Download the Resy iOS app or log into Resy.com and add your Platinum Card® to your Resy profile to take advantage of your special benefits and discover restaurants near you.
- $695 annual fee.
- Terms Apply.
1. You'll need strong credit to qualify
The Platinum Card® from American Express is a premium travel card, which also means it's built for people with good to excellent credit -- anecdotal reports suggest a FICO® Score of 670 or higher. The stronger your score, the better qualified applicant you will be.
American Express also considers things like your payment history, income, debt levels, and past relationship with Amex. Before you apply, check in on your credit and make sure your finances are in good shape.
2. You can only get the welcome offer once
American Express limits all welcome offers to once per lifetime, per card. That means if you've had the Amex Platinum Card before -- even years ago, in a past life -- you probably won't be eligible for the bonus again.
The good news is that Amex will let you know during the application process if you qualify for the welcome offer. It's worth noting that the welcome offer is a huge part of any card's value proposition, so if you're not eligible, you may want to consider other options.
You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Ready to land your sky-high bonus? Apply for the Amex Platinum Card today and check your eligibility.
3. The perks can easily outweigh the annual fee
At $695, the annual fee on the Amex Platinum Card is one of the highest among personal cards. But the perks can easily make up for that cost -- if you use them.
Here are some of the best annual credits currently available:
- $240 in annual digital entertainment credit (Disney+, Hulu, Peacock, etc.)
- $200 annual airline fee credit
- $200 hotel credit on prepaid hotel stays through Amex Travel (min. two-night stay)
- $200 annually in Uber Cash
- Up to $199 statement credit for CLEAR Plus membership per calendar year
- Up to $12.95 per month Walmart+ membership credits
- $100 in annual Saks Fifth Avenue credits
- Terms apply; enrollment may be required
That adds up to nearly $1,300 in yearly value, not including the welcome offer. When you factor in both, your first-year value could exceed $3,000.
Should you apply for the Amex Platinum Card?
The Amex Platinum Card isn't for everyone. If you don't travel often or don't see yourself using its lifestyle benefits, you may want to consider other options -- like a travel card with a low or no annual fee.
But if you're a frequent traveler who values luxury perks -- and you've never earned the card's welcome bonus before -- the Amex Platinum Card could be a great move.
Apply for the Amex Platinum Card today and find out if you're eligible for the card's jaw-dropping top welcome bonus offer.
Our Research Expert
Ryan is a full-time Personal Finance Writer at Motley Fool Money. He’s been covering topics like credit cards and savings since 2022, focusing on helping people who are new to the world of personal finance.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page.
Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by American Express.
For rates and fees for the The Platinum Card® from American Express, click here