How to Get Over $2,000 in Value From the Amex Platinum in Your First Year
KEY POINTS
- Right now, the Amex Platinum Card is offering 80,000 Membership Rewards® Points after you spend $8,000 in your first 6 months.
- The card also comes with over $1,000 in annual credits for travel, entertainment, and shopping.
- Perks like airport lounge access and elite status with hotel partners add even more hidden value, more than justifying its $695 annual fee.
The Platinum Card® from American Express is one of the most valuable travel cards on the market -- and with a $695 annual fee (see rates and fees), it better be. If you take full advantage of the card's many perks in your first year, you can get over $2,000 in value. That's a lot of bang for your buck.
Let's break it down and see if this card is a fit for you.
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Good/Excellent (670-850)
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. Earn 1X Membership Rewards® Points on other purchases. Terms and limitations apply.
1X-5X Membership Rewards® Points
Annual Fee
$695
Welcome Offer Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
80,000 Membership Rewards® Points
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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 bonus worth $800 in points. 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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- Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
- 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.
- With American Express Global Lounge Collection® eligible Card Members can enjoy access to over 1,400 airport lounges globally, including The Centurion® Lounge, Unlimited Delta Sky Club® Access when flying an eligible Delta flight, Escape Lounges, Lufthansa Lounges when flying Lufthansa Group, Plaza Premium, Priority Pass™ Select Lounges, & Additional Global Lounge Collection Partner Lounges subject to visit limitations. Lounges may have their own rules, like additional access rules and guest fees, and for Priority Pass Select, you need to enroll and there are unlimited airport lounge visits for Card Members. With Delta Sky Club Access, Card Members will receive 10 Visits to the Delta Sky Club to be used from February 1 until January 31 of the next calendar year and can unlock Unlimited Delta Sky Club Access by spending $75,000 in eligible purchases on their Card in a calendar year. To find a lounge, visit the membership section in the American Express® App or visit http://www.americanexpress.com/findalounge#/loungefinder.
- 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, such as checked bags and in-flight refreshments, 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. Use the dedicated CLEAR Lane to confirm your identity without taking out your passport or ID – this can mean shorter lines, less waiting. 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.¤
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
1. A welcome offer easily worth $800 in travel
Let's start with the big one: With the Amex Platinum Card's current welcome offer, new cardholders can earn 80,000 Membership Rewards® Points after spending $8,000 in the first 6 months. Terms apply. You may be eligible for a targeted offer that's higher than the standard. Check the card's website to find out.
Points can be worth $0.01 each when you book travel through Amex Travel, and even more if you transfer them to airline or hotel partners. That means the standard welcome offer is easily worth $800 in travel rewards, and even more if you take full advantage of Amex's transfer partners.
For more on how this offer compares, check out our full list of the best travel cards.
2. A $200 hotel credit
The Amex Platinum Card offers up to $200 back annually when you book a prepaid Fine Hotels + Resorts® or The Hotel Collection stay through Amex Travel. Terms apply; enrollment may be required.
Even if you only travel once a year, this is an easy way to save on a high-end hotel for your big trip. It also stacks with other Amex perks like early check-in and room upgrades.
3. A $240 digital entertainment credit
With the Amex Platinum Card, Amex will cover up to $20 per month in eligible digital entertainment services. That includes platforms like Disney+, Hulu, ESPN+, Peacock, and The New York Times, among others. Terms apply; enrollment is required.
Not everyone uses all of these services, but if you're already subscribed to any of them, you might as well get reimbursed.
4. A Walmart+ credit up to $12.95 each month
Walmart's premium membership service, Walmart+, costs $12.95 per month, and your Amex Platinum Card will fully cover it -- providing a value of up to $155 a year. Not bad if you're a regular Walmart customer. Terms apply; enrollment is required.
The service includes free shipping, free grocery delivery (where available), gas discounts, and even streaming with Paramount+.
5. A $200 airline fee credit
The Platinum perks continue with up to $200 in statement credits for incidental airline fees like seat selection, baggage fees, and in-flight snacks when you choose a qualifying airline. Terms apply.
While it's not for use with airfare itself, this perk can add value quickly if you fly even once or twice a year.
6. $200 Uber Cash
When you add your Amex Platinum Card to your Uber account, you'll get $15 in Uber Cash each month, plus an additional $20 in December, for a total value of $200 per year on Uber rides or Uber Eats orders in the U.S. Terms apply; enrollment may be required.
As you can tell, most of these perks are aimed at frequent travelers and luxury spenders -- but almost anyone enjoying a night on the town can take advantage of some Uber Cash.
7. $100 Saks Fifth Avenue Credit
Twice a year, you'll get up to $50 back on Saks Fifth Avenue purchases -- once from January to June, and again from July to December. No minimum purchase is required, and online shopping counts, too. Terms apply.
8. CLEAR® Plus Credit
CLEAR® Plus is a service that uses biometrics (like your eyes or fingerprints) to speed you through airport security. Amex will cover up to $199 in annual statement credits to pay for this service in full, making your next airport trip a breeze. Terms apply; enrollment may be required.
Total first-year value: Over $2,000
Here's how the Amex Platinum Card perks listed here add up:
| Benefit | Value |
|---|---|
| Welcome offer | ~$800 |
| Hotel credit | $200 |
| Digital entertainment credit | $240 |
| Walmart+ credit | $155 |
| Airline fee credit | $200 |
| Uber cash | $200 |
| Saks credit | $100 |
| CLEAR® Plus credit | $199 |
| Total | ~$2,095 |
Even after subtracting the $695 annual fee, you're still looking at nearly $1,400 in net value -- not bad.
Is the Amex Platinum Card worth It?
If you travel at all or already use services like Uber, streaming apps, or Walmart+, the value of the Amex Platinum Card adds up fast. And that's before you get into other fancy perks that are harder to quantify, like hotel elite status and lounge access.
It's definitely got its fair share of bells and whistles -- but if you play it right, the Amex Platinum Card can pay you back on your $695 investment and then some.
Ready to go Platinum? Apply for The Platinum Card® from American Express today.
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.
For rates and fees for the The Platinum Card® from American Express, click here