Forget the Amex Platinum: My New Favorite Travel Card Costs $500 Less
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The American Express Platinum Card®'s annual fee recently went up by $200 to an eye-watering $895 (see rates and fees). Don't get me wrong -- this card more than makes up for the cost with its long (long) list of perks and statement credits.
But that never-ending list of perks is exactly why I would not get the Platinum Card®.
These days, I'm a fan of a simple yet premium travel card that pays for itself with very little effort: the Capital One Venture X Rewards Credit Card (see rates and fees).
Why the Platinum Card® is a double-edged sword
In some ways, the Platinum Card® is like a high-end coupon book.
To get your money's worth, you need to stay at certain hotels, shop at certain stores, dine at the right restaurants, and so on. Some benefits are only good for one to six months, which means you also have to spend at the right time.
Here are some of the Platinum Card®'s benefits and how often you can claim them:
- Semi-annual: $300 credit for prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel. (Two-night minimum stay for THC properties.)
- Quarterly: $100 credit for dining at U.S. Resy restaurants
- Quarterly: $75 credit for eligible purchases at U.S. lululemon stores and lululemon.com
- Monthly: $15 in Uber Cash ($20 in December)
- Terms apply; enrollment may be required
That's a lot of value -- and I haven't listed nearly all the perks. Still, I'd rather not feel pressure to spend a certain way in order to recoup my annual fee.
That said, the Platinum Card® is totally worth it if you:
- Already spend money on the things that would earn you credits
- Enjoy planning ahead in order to score deals
- Will not be tempted to spend more than you should
For the right cardholder, the Platinum Card® offers over $3,500 in annual value. If you're all about chasing big rewards, then click here to learn more about the American Express Platinum Card® and apply.
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Intro APR
Purchases: N/A
Balance Transfers: N/A
APR
See Pay Over Time APR
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
$895
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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The American Express Platinum Card® isn’t just a credit card — it’s a status symbol. With over $3,500 in annual credits like $400 for dining with Resy, $600 in luxury hotel stays, and $300 in digital entertainment, plus VIP access to 1,550 airport lounges and automatic Hilton and Marriott Bonvoy elite status (enrollment required), it delivers prestige few cards can match. The fee is steep, but for those who want the best, the Platinum Card® can more than pay for itself — starting with a powerful welcome offer. Terms apply.
Read Full Review -
- 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.
- Get more for your travels with 5X Membership Rewards® points on all flights and prepaid hotel bookings through American Express Travel®, including Fine Hotels + Resorts® and The Hotel Collection bookings. You earn 5X points on flights purchased directly from airlines or through American Express Travel® on up to $500,000 on these purchases per calendar year.
- More Value! With over 1,550 airport lounges - more than any other credit card company on the market* - enjoy the benefits of the Global Lounge Collection®, over $850 of annual value, with access to Centurion Lounges, 10 complimentary Delta Sky Club® visits when flying on an eligible Delta flight (subject to visit limitations), Priority Pass Select membership (enrollment required), and other select partner lounges. * As of 07/2025.
- More Value! $200 Uber Cash + $120 Uber One Credit: With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add your Platinum Card® to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
- More Value! $300 Digital Entertainment Credit: Get up to $25 in statement credits each month after you pay for eligible purchases with the Platinum Card® at participating partners. Enrollment required.
- More Value! $600 Hotel Credit: Get up to $300 in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection* bookings through American Express Travel® using the Platinum Card®. *The Hotel Collection requires a minimum two-night stay.
- New! $400 Resy Credit + Platinum Nights by Resy: When you use the Platinum Card® to pay at U.S. Resy restaurants and to make other eligible purchases through Resy, you can get up to $100 in statement credits each quarter with the $400 Resy Credit benefit. Plus, with Platinum Nights by Resy, you can get special access to reservations on select nights at participating in demand Resy restaurants with the Platinum Card®. Simply add your eligible Card to your Resy profile to book and discover Platinum Nights reservations near you, enrollment required.
- More Value! $209 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. You can cover the cost of a CLEAR Plus Membership* with up to $209 in statement credits per calendar year after you pay for CLEAR Plus with the Platinum Card®. *Excluding any applicable taxes and fees. Subject to auto-renewal.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees, such as checked bags and in-flight refreshments, are charged by the airline to the 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.
- Start your vacation sooner, and keep it going longer. When you book Fine Hotels + Resorts® through American Express Travel®, enjoy noon check-in upon arrival, when available, and guaranteed 4PM check-out.
- New! $300 lululemon Credit: Enjoy up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. That’s up to $300 in statement credits each calendar year. Enrollment required.
- $155 Walmart+ Credit: Receive a statement credit* for one monthly Walmart+ membership (subject to auto-renewal) after you pay for Walmart+ each month with the Platinum Card®.*Up to $12.95 plus applicable local sales tax. Plus Ups not eligible.
- $100 Saks Credit: Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue or saks.com on the Platinum Card®. That’s up to $50 in statement credits from January through June and up to $50 in statement credits from July through December. No minimum purchase required. Enrollment required.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- $895 annual fee.
- Terms Apply.
But if you're like me, then you'd prefer something lower maintenance.
Why I prefer the Capital One Venture X Card
This travel card comes with a handful of premium travel perks, great spending rewards, and a much lower price tag.
1. The annual fee practically pays for itself
Here's how:
- Annual fee: $395 (see rates and fees)
- $300 travel credit for bookings made through Capital One Travel
- 10,000 anniversary miles every year (worth $100 toward travel)
If you book even a single trip through Capital One Travel each year, the credit does most of the work. Add the 10K anniversary miles, and you're at about $400 toward travel in yearly value vs. a $395 fee -- before counting any miles you earn.
2. Better everyday earning
Lots of premium cards earn 1X points on non-bonus spending.
The Capital One Venture X Rewards Credit Card pays:
- 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
That 2X catch-all rate stands out, and it turns daily spending into solid travel rewards with zero thought.
3. Simple yet premium travel perks
Cardholders get access to over 1,300 airport lounges and up to $120 credit for TSA PreCheck® or Global Entry enrollment (once every four years).
Personally, I don't need more from my travel card.
If you want to earn big travel rewards on autopilot, then the Capital One Venture X Rewards Credit Card might be the perfect card for you. The welcome offer -- 75,000 Miles (worth $750 in travel) when you spend $4,000 within the first 3 months of account opening -- is enough to make this card worth a test drive at least.
Click here to learn more about the Capital One Venture X Rewards Credit Card and apply today.
Our Research Expert
James McClenathen is a full-time Managing Editor and Personal Finance Writer at Motley Fool Money, overseeing the production and quality of editorial content while also writing about credit cards, investing, and everyday money management. He has worked at The Motley Fool since 2012 and brings extensive experience as an editor, reporter, and finance expert. A graduate of the University of Michigan, James has spent more than a decade of his career helping readers make smarter financial decisions.
For rates and fees for the American Express Platinum Card®, click here