14 Reasons Why the American Express Platinum Card is Totally Worth it

The Platinum Card from American Express is my favorite premium card. At one point it was the most popular premium card out there with a high annual fee of $450. That changed after Citi introduced the Citi Prestige Credit Card and Chase introduced the Sapphire Reserve. The Amex Platinum got a little lost between these other premium cards and especially so after American Express increased the Annual fee by $100 to $550.

After all these changes it’s still my favorite premium card and here are 14 Reasons Why the American Express Platinum Card is Totally Worth it.

1- 60,000 Points Welcome Bonus (sometimes upped to 100,000 through public or targeted offers)

Both the 60,000 and 100,000 welcome offers require a minimum spend of $5,000 in the first 3 months.

I personally value American Express Membership Rewards points anywhere between 1.8 to 2.2 cents per point. If we use the average, that puts the welcome bonus at a value of $1,200 or $2,000 if you’re able to get the 100,000 points bonus.

2- $200 Airline Fee Credit

The way this benefit works; every calendar year you get to choose one airline towards which this benefit will apply. This credit only applies toward incidentals like checked baggage fees, seat assignment fees, airline lounge passes and other incidentals.

3- $200 Uber Credit

You’ll get Uber VIP status and free rides in the U.S. up to $15 each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. This credit can be used on multiple rides, but if you don’t use it by the end of the month, it doesn’t roll over to the next month. If you’re not a frequent Uber rider; another way you can use this benefit is through Uber Eats. The credits will work the same way ($15 per month and $35 in December) when you use Uber Eats to order food.

4- Global Entry or TSA PreCheck Credit

When you apply for and receive your Global Entry or TSA Pre✓®, not only can you get expedited screening at select airports, but you’ll receive a credit for the application fees on your statement. You’ll get this statement credit once every 4 years after you apply for Global Entry ($100) or TSA Pre✓®($85). I always recommend to apply for Global Entry because it also gives you TSA PreCheck as an added bonus.

5- Shop Saks with Platinum

You can earn up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card. These credits can be earned, up to $50, on a semi-annual basis, from January – June and July – December. You have to enroll in this benefit before making a purchase in order for the credit to work.

6- Bonus Membership Rewards

You can earn 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel and you can earn 5X Membership Rewards® points on prepaid hotels booked on amextravel.com. If you travel frequently, this is a great way to accumulate valuable Membership Rewards points.

7- American Express Travel Partners

If you want to get the most value out of your Membership Rewards points, then transferring points to one of American Express’ 19 airline partners is the way to go. Points transfer to those partners at mostly 1:1 ratio. The transfers are also instant for most of Amex’s travel partners with the exception of a very few.

8- Lounge Access

The American Express Global Lounge Collection unlocks access to more than 1,100 airport lounges across 120 countries and counting. With the Platinum card, you and 2 guests can enjoy complimentary access to the Centurion Lounges which are some of the nicest lounges in the U.S.

As a Platinum Card from American Express holder you’ll get access to Delta Skyclubs whenever you’re flying on Delta even in economy. You can bring guests at a rate of $29 per guest.

You’ll also receive a free Priority Pass Select Membership which gives you and 2 guests unlimited access to over 1,000 lounges around the world.

9- Fine Hotels and Resorts Program

As a Platinum Card holder you can book stays through the Fine Hotels and Resorts Program that offers plenty of benefits. Benefits include daily breakfast for two, room upgrade when available, property amenity valued at $100, guaranteed 4PM late check-out, noon check-in when available, and complimentary Wi-Fi.

10- Marriott Bonvoy Gold Elite Status.

As a Platinum Card from American Express member, you can upgrade to Marriott Bonvoy Gold Elite Status without meeting any stay requirements. Marriott Bonvoy Gold Elite status comes with benefits like:

• Earning 25% bonus points on stays
• You’ll be given an enhanced room at check-in when available.
• 2 p.m. late checkout when available.
• And more.

11- Hilton Honors Gold Status

• Guaranteed Discount: A discounted, changeable & refundable rate is exclusively available for Hilton Honors Members.
• Digital Check-In: choose your room, and customize your stay from your mobile device up to 24 hours in advance.
• Complimentary in-room and lobby Standard Internet access during stays at Waldorf Astoria™ Hotels & Resorts, Conrad® Hotels & Resorts, Canopy™ by Hilton, Curio – A Collection by Hilton, Hilton Hotels & Resorts, DoubleTree by Hilton™, Tapestry Collection by Hilton™, Embassy Suites Hotels™ and Hilton Grand Vacations™
• Two complimentary bottles of water per stay (at Waldorf Astoria™ Hotels & Resorts, Conrad® Hotels & Resorts, Curio – A Collection by Hilton, Hilton Hotels & Resorts, DoubleTree by Hilton™, Tapestry Collection by Hilton™ Embassy Suites Hotels™, Hilton Garden Inn™ and Hilton Grand Vacations™ hotels)

12- Car Rental Elite Status

As a Platinum Card holder you’ll be eligible to enroll for status with car rental programs such as Avis Preferred, Hertz Gold Plus Rewards and National Car Rental Emerald Club Executive status.

13- Shoprunner

This is a nice benefit from American Express that gives you free 2-day shipping when you shop online at participating stores. To get the free ShopRunner membership benefit compliments of American Express, you must go to www.shoprunner.com/americanexpress and verify your eligibility for the benefit with an eligible Card account number and then complete the sign up for a ShopRunner membership account.

14- Amex Offers

Amex Offers rewards you at places you like to shop, dine, travel and more. This is an awesome way to save a little money here and there on stuff you’d buy anyway. You’d find offers for restaurants, hotels and stores where if you spend let’s say $50 you’ll get $15 back as a statement credit. It’s a very easy simple way of saving money.

American Express Platinum Bottom Line:

Even though the Platinum Card from American Express comes with a high annual fee ($550), I still think it’s totally worth it. If you factor in the annual credits; $200 Uber, $200 Airline Credit, $25 Global Entry Credit ($100 every 4 years), $100 Saks Fifth Avenue Credit, the annual fee is technically reduced to $25 (550 – 200 – 200 – 25 – 100). That’s incredible for such an amazing card. Also, every visit to a Centurion Lounge is worth $50 per person. You can also access Delta Skyclubs and over 1,000 lounges with the Priority Pass Membership. All these reasons make the American Express Platinum card my favorite premium credit card out there.

Learn more about the Platinum Card from American Express