Here's How to Easily Cover the New Amex Platinum Annual Fee
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When I first saw that the American Express Platinum Card® was bumping its annual fee to $895 (see rates and fees), I had one reaction: Yikes! The sticker shock is real.
But after digging into the new perks, it is true that this card can still easily pay for itself. Here's exactly how to make that $895 annual fee worth it so you can come out ahead.
1. The new lineup of credits is better and more flexible
Amex completely refreshed the Platinum Card®'s perks this fall, adding new categories that are a lot more usable than before.
Here's what's new:
- $400 Resy Credit: Up to $100 back quarterly when you dine through Resy (enrollment required).
- $300 Digital Entertainment Credit: Now covers Disney+, Hulu, ESPN+, Peacock, The Wall Street Journal, and The New York Times (enrollment required).
- $600 Hotel Credit: Up to $300 twice per year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings (two-night minimum on THC).
- $300 lululemon Credit: $75 back each quarter on eligible lululemon purchases (enrollment required).
- $200 Oura Ring Credit: Once per year when you buy an Oura ring with your Platinum Card®.
- Platinum Nights by Resy + Leaders Club Sterling Status: Early access to exclusive events and luxury hotel benefits.
- Terms apply; enrollment may be required
And all the old favorites are still here: $200 Uber Cash, $200 Airline Fee Credit, $100 Saks Fifth Avenue credit, Walmart+, CLEAR® Plus. The new Resy and lululemon credits make this list of perks almost unbeatable. Terms apply; enrollment may be required.
Even if you only take advantage of the dining, hotel, and Uber benefits, you're already past the annual fee.
2. The welcome offer alone can cover the fee (and then some)
Amex is currently offering a potentially massive welcome bonus.
Apply and find out if you are 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.
Redeemed through Amex Travel, in our estimation that bonus could be worth as much as $1,750 at $0.01 per point, but those same points could stretch to $2,500 or more if you transfer them to airline or hotel partners. If you're planning any travel in the next year, this bonus alone wipes out the $895 and leaves you with extra vacation money.
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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.
3. Travel like a VIP without paying extra for it
This card's airport lounge access is about as good as it gets. You'll get entry to 1,550+ lounges worldwide, including Centurion Lounges, Delta Sky Clubs (10 visits per year or unlimited with $75,000 in annual spending), Priority Pass™ Select, Plaza Premium, and Lufthansa lounges. Terms apply; enrollment may be required.
If you travel more than a couple of times a year, you'll feel the value quickly. Amex pegs the lounge benefit at up to $850 annually, but for many travelers, it's more about the experience: peace, food, and free drinks instead of fighting for an airport outlet.
4. The not-so-fun part: managing all the credits
This card takes effort.
You'll need to remember which perks reset monthly, quarterly, or semi-annually. The $100 Saks credit, for example, is split into two $50 halves. (My friend sets a calendar reminder to buy gift cards every January and July -- pro move.)
If you like simplicity, you might prefer one of the best flat-rate cash back cards for flat-rate earnings on everything, with no categories to track. But if you don't mind keeping tabs on a few benefits, the Platinum Card®'s value can snowball fast.
5. Who it's best for
This card isn't for everyone, but that's kind of the point.
It's built for people who love to travel in comfort, eat well, and take advantage of luxury perks without paying luxury prices. If you mostly fly budget airlines or rarely leave town, it's probably overkill. But if you're flying a few times a year and enjoy premium hotels and experiences, it's a powerhouse.
Read our full review and apply now for the American Express Platinum Card®.
Our Research Expert
Jake FitzGerald is a full-time Editorial Strategist and Personal Finance Writer at Motley Fool Money, leading content production and distribution while also writing about credit cards, bank accounts, and other financial products. He has more than a decade of experience editing and shaping financial content to give readers clear, trustworthy money advice. His work focuses on delivering practical insights that empower people to make smarter financial decisions. Off the clock, he’s a fan of college football tailgates and still loyal to his favorite putter -- despite what his short game suggests.
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 American Express Platinum Card®, click here