Why Premium Cards Are Worth It in 2025 -- Even With High Annual Fees
Image source: Getty Images
A steep annual fee is probably the number one reason someone decides not to apply for a credit card. But the truth is, most of the costliest cards out there have more than enough perks to make them worth it.
One of my favorite high-end credit cards is the American Express Platinum Card®, with (gulp) an $895 annual fee (see rates and fees). That's one of the highest annual fees you'll find. But with more than $3,500 in annual perks, the Platinum Card® can easily be worth the cost if you use it right.
Here's why the Platinum Card® is worth a look, even with an annual fee of almost $1,000.
Get nearly $1,500 in new and expanded perks
Since its recent update, the Platinum Card® now comes with a handful of new perks, plus expansions to some existing ones. You'll get:
- $600 in annual hotel credits -- Increased from $200 a year. The card now offers up to $300 back twice a year on prepaid bookings through Amex Travel at Fine Hotels + Resorts or The Hotel Collection. Note that there's a two-night minimum stay for The Hotel Collection.
- $400 in annual Resy credits -- Get up to $100 back each quarter on eligible purchases at Resy restaurants (enrollment required).
- $300 in annual lululemon credits -- Get up to $75 back per quarter on eligible purchases at lululemon in the U.S. (enrollment required).
- $300 in annual digital entertainment credits -- You'll now get up to $25/month for eligible digital subscriptions when you pay with your Platinum Card, up from $20/month (enrollment required). Services include Disney+, ESPN+, Hulu and The New York Times, plus a few new additions: Paramount+, YouTube Premium, and YouTube TV.
- A $209 annual CLEAR® Plus Credit -- This perk was increased from $199 to cover the increased cost of CLEAR Plus membership.
- A $200 Oura Ring credit -- Get up to $200 back each year when you buy an Oura Ring, the popular health-tracking accessory (enrollment required).
- $120 in annual Uber One Credits -- Covers the cost of Uber's premium membership, Uber One, which comes with discounted rides, $0 delivery fees with Uber Eats, and more.
- Terms apply; enrollment may be required
Add it up, and you're looking at $1,490 in new or expanded perks -- already enough to make up for the $895 annual fee. Not bad.
Want to unlock almost $1,500 in new and expanded perks? Read our full review of the Platinum Card® to apply today.
= Best
= Excellent
= Good
= Fair
= Poor
= Best
= Excellent
= Good
= Fair
= PoorGood/Excellent
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.
-
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
-
- 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.
Existing perks worth thousands more
The new and improved perks are enough to cover the cost of the Platinum Card®. Throw in the card's long list of existing perks, though, and you'll really start to rack up value.
The Platinum Card® also comes with:
- $300 a year in Equinox credits
- $200 a year in airline fee credits
- $155 a year in annual Walmart+ credits
- $100 a year in annual Saks Fifth Avenue credits
- Access to over 1,550 airport lounges
- Terms apply; enrollment may be required
As mentioned, the Platinum Card® offers over $3,500 in total yearly value. Use just a third of the card's perks, and you've more than covered the card's annual fee.
The welcome bonus is just the cherry on top
Still not sold? Here's the kicker: The American Express Platinum Card® is also offering one of its most valuable welcome bonuses of all time.
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.
The highest bonus of 175,000 points is worth at least $1,750 in travel rewards, and potentially even more if you use Amex's transfer partners. But no matter how big your bonus is, you'll get a huge head start on covering the $895 annual fee -- which means now is a great time to apply.
Ready to land your sky-high bonus? Read our American Express Platinum Card® review and apply today.
Our Research Expert
Ryan Wilcox is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, auto insurance, and other personal finance topics. Ryan has been writing about credit cards and savings since 2022. Before joining Motley Fool Money, he was a full-time writer at The Points Guy, where he focused on maximizing credit card rewards and travel strategies. He holds a bachelor’s degree in English and American History from the University of North Carolina at Chapel Hill, where he also spent four years reporting for The Daily Tar Heel. With a background in both journalism and consumer finance, he brings a clear and thoughtful voice to money topics. Outside of work, Ryan is likely reading, writing, or updating his Letterboxd account.
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