10 Big Discounts Amex Platinum Cardholders Can Get Now

The Platinum Card® from American Express is one of the most expensive cards you can apply for, but its $695 annual fee can easily be worth it if you take advantage of all its perks and benefits (see rates and fees).

Some of the card's benefits include fantastic airport lounge access, the Membership Rewards program, and complimentary Marriott and Hilton elite status (terms apply). But there are also a bunch of discounts available to card members that can be worth more than double the annual fee.

Ten discounts Amex Platinum Card holders can get

Most of the discounts offered by The Platinum Card® from American Express are in the form of statement credits, which means that you charge a purchase to the card, and you'll see a credit on your bill that offsets some, or all of the charge. So, with that in mind, here are the big discounts available now to holders of The Platinum Card® from American Express.

1. Airline incidentals

Cardholders get $200 per year in statement credits toward incidental fees on an airline you specify. This can't be used for airfare, but can cover in-flight beverages and food, baggage fees, and more. Terms apply.

2. Uber rides (or deliveries)

The Amex Platinum Card provides $200 in Uber Cash per year, structured as $15 per month with a $20 bonus in December. Terms apply. For example, I recently took a $28 Uber ride, and my February Uber Cash effectively made it $13. This can be used for rides, or toward UberEats deliveries.

3. Hotel stays

Cardholders get a $200 statement credit each year toward prepaid bookings on the Fine Hotels + Resorts® or The Hotel Collection. Plus, cardholders get additional perks when booking with these hotels, such as a food and beverage credit. Terms apply.

4. Streaming

The Platinum Card® from American Express includes a statement credit of up to $20 per month toward certain streaming or digital entertainment subscriptions. Examples include Disney+, Hulu, and The Wall Street Journal. Terms apply; enrollment may be required.

5. Walmart+ membership

If you sign up for a Walmart+ membership and pay monthly with your Amex Platinum Card, you'll get a $12.95 monthly statement credit that covers the entire cost. Terms apply; enrollment may be required.

6. Equinox

As a cardholder, you can get as much as $300 per year in statement credits toward an Equinox Club membership or Equinox+ digital subscription. Terms apply; enrollment may be required.

7. Saks Fifth Avenue

You'll have $50 to use toward Saks Fifth Avenue purchases, once from January to June and again from July to December. Terms apply.

8. CLEAR Plus membership

You may have seen those CLEAR lanes at airport security checkpoints. These can allow you to skip the traditional identification line. The Platinum Card® from American Express provides a $189 annual statement credit to cover the cost of a CLEAR Plus membership. Terms apply; enrollment may be required.

9. TSA PreCheck

In addition to a CLEAR Plus membership, which allows you to skip the long ID lines, The Platinum Card® from American Express also includes a credit to cover the cost of a TSA PreCheck or Global Entry membership every four years to help expedite the security screening process. Terms apply; enrollment may be required.

10. Amex Offers

This one is more of a wildcard, as Amex Offers can be targeted and time-limited. Terms apply. However, the offers you get through Amex can be far better than what other credit card issuers make available. Just to name a couple of the offers in my portal (there are 100 available) that I will actually use:

• $40 back as a statement credit after spending $200 at LensCrafters
• $10 statement credit for spending $50 at Godiva
• $45 back for spending $110 on a new Sam's Club Plus Membership

I could go on. And keep in mind that you might not see these exact offers. But in a recent year, Amex Offers gave me more than $300 in statement credits for things I would have bought anyway.

The bottom line

Like any financial decision, The Platinum Card® from American Express isn't right for everyone. However, in addition to the other benefits, the available discounts from the card can make its $695 annual fee seem like a bargain to the right person.