Don't Want to Pay the Amex Platinum's $895 Annual Fee? Here Are 3 Good Alternatives
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When the American Express Platinum Card® refreshed a couple months back, it pushed the card just a little too far out of reach for a lot of folks. The new $895 annual fee (see rates and fees) is a huge turnoff. And honestly, I get it.
It's all good though. There are still a ton of credit cards that offer killer travel rewards and perks without making you pay through the nose.
If you want strong earning rates, premium(ish) benefits, and more flexibility, here are three great cards that might be a better fit.
1. Wells Fargo Autograph® Card: $0 annual fee
If you're looking to ditch annual fees completely, check out the Wells Fargo Autograph® Card (rates and fees).
It earns a high rewards rate on categories most people already spend on, and has an easy welcome bonus for new cardholders.
Here's an overview of the benefits:
- 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans
- 1X points on other purchases
- Cellphone protection up to $600 (subject to a $25 deductible)
- 0% intro APR for 12 months from account opening; a 18.74%, 24.74%, or 28.74% Variable APR applies after
One cool thing I like about this card is that you don't have to use a special travel portal to earn those 3X points. Whether you book directly with an airline, snag a hotel deal on your favorite site, or use a third-party app -- all travel-coded spending counts, so you're never locked in or missing out on better prices.
There's also a welcome offer: Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.
And again, no annual fee, so any points you rack up are just gravy.
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Intro APR 0% intro APR for 12 months from account opening on purchases
Purchases: 0% intro APR for 12 months from account opening on purchases
Balance Transfers: N/A
Regular APR
18.74%, 24.74%, or 28.74% Variable APR
Rewards Earn unlimited 3X points on restaurants, travel, gas stations, transit, popular streaming services and phone plans. Plus earn 1X points on other purchases.
1X-3X points
Annual Fee
$0
Welcome Offer Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.
20,000 bonus points
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This card offers unlimited 3X points on common things like restaurants, gas stations, travel, transit, popular streaming services, and phone plans. Plus, earn 1X points on other purchases. This could be a great pick if you spend a lot in those categories. A solid welcome bonus and cell phone protection are the cherries on top.
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- Strong welcome bonus for a no annual fee card
- Earn Unlimited 3x points on useful categories
- Cellphone protection
- Other cards offer larger bonuses, though they usually come with annual fees
- The 1x points baseline rewards rate on other purchases, though normal for this type of card, can be beat
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- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- Earn 20,000 bonus points when you spend $1,000 in purchases in the first 3 months - that's a $200 cash redemption value.
- Earn unlimited 3X points on the things that really add up - like restaurants, travel, gas stations, transit, popular streaming services, and phone plans. Plus, earn 1X points on other purchases.
- $0 annual fee.
- 0% intro APR for 12 months from account opening on purchases. 18.74%, 24.74%, or 28.74% variable APR thereafter.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Redeem your rewards points for travel, gift cards, or statement credits. Or shop at millions of online stores and redeem your rewards when you check out with PayPal.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
2. Chase Sapphire Preferred® Card: A fan favorite
The Chase Sapphire Preferred® Card (see rates and fees) is like the old faithful of travel rewards cards. It's reliable, rewarding, and always shows up when you need it.
At $95 per year, it's way less than premium cards but still offers great travel rewards.
On the points side, it earns:
- 5X points on travel purchased through Chase Travel℠
- 3X points on dining, select streaming services, and online groceries dining, streaming, and online groceries
- 2X points on all other travel purchases
- 1X points on all other purchases
Other card highlights:
- A $50 annual hotel credit when you book through Chase Travel
- At least one year of DashPass, plus monthly credits for non-restaurant orders
- Travel protections like trip delay reimbursement, primary car rental insurance, and lost baggage coverage
I know many people that use this card as their one and only for all spending, all year long. Since it earns Chase Ultimate Rewards® points, the redemptions are super flexible, and you can transfer them to airlines and hotel partners like Hyatt and United.
This is a great middle-ground card for anyone who wants premium rewards without going full Platinum.
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Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
19.49% - 27.74% Variable
Rewards Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
5x on Chase Travel℠, 3x on dining, 2x on all other travel
Annual Fee
$95
Welcome Offer Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
75,000 bonus points
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This card easily justifies the (very reasonable) annual fee with benefits that deliver real value. Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months, which we estimate is worth at least $750 in Chase Travel℠ value. Plus, enjoy bonus travel and dining rewards, a $50 annual hotel credit, and 10% anniversary points boost. With added travel protections like rental car insurance and trip reimbursement, we think this card is a game-changer for any traveler.
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- Big sign-up bonus
- Travel rewards
- Dining rewards
- Flexible travel points
- Consumer and travel protections
- Annual fee
- Limited-time perks
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- Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
- Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
- Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
- 10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
- Member FDIC
3. Capital One Venture X Rewards Credit Card: Premium perks without the premium pain
If you still want some higher-end perks like airport lounge access, travel credits, and bonus miles, this is your move.
The Capital One Venture X Rewards Credit Card has a $395 annual fee (see rates and fees), but that number drops fast once you factor in the credits and perks:
- A $300 annual credit for travel booked through Capital One Travel
- 10,000 bonus miles every account anniversary (worth $100 towards travel)
- Access to 1,300+ airport lounges around the world
- Up to a $120 credit for Global Entry or TSA PreCheck®
You'll also earn:
- 10X miles on hotels and rental cars booked through Capital One Travel
- 5X miles on flights and vacation rentals booked through Capital One Travel
- 2X miles on all other purchases
- Plus, your miles are transferable to multiple airline and hotel partners
Heads-up: You'll likely need excellent credit to qualify for this one. But if you can swing it, the value is undeniable.
On Capital One's Secure Website.
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Earn 100,000 miles (worth $1,000 in travel) when you spend $10K in the first 6 months
Excellent (740-850)
Intro APR
Purchases: N/A
Balance Transfers: N/A
Regular APR
19.74% - 28.74% (Variable)
Rewards Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel. Earn unlimited 2X miles on all other purchases.
2X-10X miles
Annual Fee
$395
Welcome Offer 100,000 Miles when you spend $10,000 on purchases in the first 6 months from account opening
100,000 Miles (worth $1,000 in travel)
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If you want premium travel perks that easily justify their cost, this card delivers. You’ll get a $300 annual credit for bookings through Capital One Travel, plus 10,000 bonus miles every account anniversary (worth $100 toward travel) — perks that already offset the $395 annual fee.
Add a 100,000-mile welcome bonus (worth $1,000 toward travel), unlimited 2X miles on everyday purchases, airport lounge access, and Global Entry/TSA PreCheck® credits, and you’ve got one of the strongest premium travel cards available today.
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- Big travel rewards bonus
- High rewards rate
- Travel credits
- Easy-to-use miles
- Annual fee
- Other card issuers have more valuable travel rewards
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- LIMITED-TIME OFFER: Earn 100,000 bonus miles once you spend $10,000 on purchases in the first 6 months from account opening - equal to $1,000 in travel
- Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
- Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
- Earn unlimited 2X miles on all other purchases
- Enjoy access to 1,300+ lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Top rated mobile app
The bottom line
If the American Express Platinum Card® doesn't fit your budget (or your real lifestyle), no worries! Don't feel pressured to pay a huge annual fee -- especially when there are plenty of rewarding cards out there that might be a better fit.
Whether you want to pay $0 or still get premium perks for under $400, there's an option here that'll likely suit your travel style way better.
Explore all the top travel cards here and find the one that fits your vibe best.
Our Research Expert
Joel O’Leary is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, mortgages, and other personal finance topics. Joel has been writing about personal finance since 2018, previously leading editorial content for the How To Money podcast and serving as a resident writer at Budgets Are Sexy. He bought his first rental property at age 18, funding the down payment with savings from his high school job at McDonald’s -- a testament to his lifelong passion for smart money decisions. His work aims to make personal finance accessible and actionable for everyday readers. When he’s not writing, Joel enjoys surfing and spending time with his family.
For rates and fees for American Express Platinum Card®, click here