Here's How to Easily Cover the New Amex Platinum Annual Fee
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When American Express raised the annual fee on the American Express Platinum Card® to $895 (see rates and fees), a lot of people had the same reaction: Whoa. That's a big number for a single card. And if you stop there, it's easy to assume the card just isn't worth it anymore.
But once you actually look at what Amex added in benefits, the math tells a very different story. For the right kind of spender and traveler, the Platinum Card® can still pay for itself fairly easily.
Here's how people are covering that $895 annual fee without much effort.
Revamped benefits totaling $3,500+ annually
American Express refreshed the Platinum Card®'s benefits with credits and perks that are broader and more flexible than before. Instead of niche perks you have to force yourself to use, many of these line up with everyday spending.
Some of the biggest credits include:
- $600 Hotel Credit -- Up to $300 twice per year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings (The Hotel Collection requires a minimum two-night stay)
- $400 Resy Credit -- Up to $100 back quarterly on eligible dining purchases made through Resy
- $300 Digital Entertainment Credit -- Covers select subscriptions like Disney+, Hulu, ESPN+, Peacock, The Wall Street Journal, and The New York Times
- $300 lululemon Credit -- Up to $75 back each quarter on eligible lululemon purchases
- $200 Airline Fee Credit -- For incidental charges with a selected airline
- $200 Uber Cash -- Issued monthly for rides or Uber Eats in the U.S. (with a bonus amount in December)
- $209 CLEAR® Plus Credit -- Helps speed you through airport security
- Terms apply, enrollment required
On top of these, the Platinum Card® still includes perks like Walmart+ membership, Saks Fifth Avenue credits, and expanded lounge access.
You don't need to use everything to come out ahead. Even a few of these credits -- especially dining, travel, and transportation -- can significantly reduce the real cost of the $895 annual fee.
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Intro APR
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APR
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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
$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.
The welcome offer can wipe out the fee in year one
Another major lever is the Platinum Card®'s welcome offer.
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.
If those points are redeemed through American Express Travel at a standard value of $0.01 per point, that's up to $1,750 in travel (as estimated by Motley Fool Money) -- nearly double the card's annual fee. Depending on how points are redeemed, some travelers may find even greater value through transfer partners.
No more stress at the airport
Airport perks are where the Platinum Card® really starts to feel worth it. And it goes way beyond just lounge access.
Yes, the card includes entry to 1,550+ airport lounges worldwide, which means quieter spaces, food, drinks, wifi, and a place to reset before a flight. Terms apply.
The Platinum Card® also comes with a CLEAR® Plus credit, which can let you skip to the very front of the TSA line using biometric screening. Even if you already have TSA PreCheck®, CLEAR can move you ahead of everyone else. Enrollment is required.
On top of that, the card offers a credit for Global Entry or TSA PreCheck® (once every four to five years, depending on the program). Global Entry is basically like knowing the bouncer -- except the club is U.S. border control. It speeds you through customs at major international airports abroad and when returning from international trips.
The tradeoff: you have to manage the credits
I'll be honest -- the Platinum Card® isn't for everyone.
You've probably noticed that all these credits and perks require some type of mental energy to enroll, coordinate, redeem, and track each year. Some credits reset monthly, others quarterly or semiannually.
If you prefer a simple, no-maintenance setup, a flat-rate rewards card with a lower annual fee may be a better fit. But if you're willing to put in a bit of effort, the Platinum Card®'s layered credits can stack up quickly.
Who the Platinum Card® makes sense for
The Platinum Card® works best for people who travel a few times per year, are OK paying for comfort and convenience, dine out regularly, and can take advantage of lifestyle and travel credits. For those cardholders, the $895 annual fee often looks much smaller once the benefits are in play.
If you're considering the Platinum Card® or weighing it against other premium options, it's worth comparing features side by side.
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.
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 American Express Platinum Card®, click here