Current Offer (February 2026)

Earn 80,000 Membership Rewards points after spending $8,000 in the first 6 months. At a conservative 1.5¢/point in travel redemptions, that's $1,200. Transferred to premium airline partners — ANA, Air France/KLM, Singapore Airlines — 80,000 points can be worth $2,000–$3,200 in business or first-class flights. The $8,000 minimum spend is high; factor in whether you can realistically hit it before applying.

Rewards Rates

CategoryEarn RateEst. Value per $1
Flights booked via Amex Travel or directly5x points7.5¢–12.5¢
Hotels booked via Amex Travel5x points7.5¢–12.5¢
Dining at restaurants3x points4.5¢–7.5¢
Everything else1x points1.5¢–2.5¢

The 5x on flights is one of the highest fixed earn rates on any card, period. But it only applies to flights — not hotels, car rentals, or other travel. The rest-of-spend 1x is weak, which is why most Platinum holders pair it with an Amex Gold (4x dining/groceries) or another card for everyday spending.

The $695 Fee: Breaking Down the Credits

The Platinum's annual fee looks brutal until you catalog what you get back. Here's the full credit stack, which totals over $1,500 in potential annual value:

Airline Fee CreditUp to $200/year for incidental fees (baggage, seat upgrades, in-flight food) with one selected airline.
$200
Hotel CreditUp to $200/year for prepaid hotel bookings through Amex Travel (Fine Hotels + Resorts or The Hotel Collection).
$200
Digital Entertainment CreditUp to $240/year ($20/month) at eligible streaming and digital services including Disney+, Hulu, ESPN+, Peacock, NYT, and more.
$240
Equinox CreditUp to $300/year toward Equinox gym memberships or the Equinox+ app.
$300
Uber Cash$200/year in Uber Cash ($15/month + $20 in December) for Uber rides or Uber Eats.
$200
Global Entry / TSA PreCheck CreditUp to $100 every 4.5 years for Global Entry application fee ($85 for TSA PreCheck).
$100
Walmart+ CreditMonthly Walmart+ membership fee reimbursed (~$12.95/month = $155.40/year).
$155
Annual Fee Math — Best Case
Annual fee−$695
Airline fee credit+$200
Hotel credit+$200
Digital entertainment credit+$240
Uber Cash+$200
Walmart+ credit+$155
Effective annual cost (if all used)−$300 net benefit

The catch: this math requires you to actually want and use every credit. The Equinox credit and Walmart+ credit in particular are useless if you don't use those services. Budget realistically — not all $1,500+ will be accessible to every cardholder.

Centurion Lounge Access

This is the card's marquee benefit for frequent travelers. Centurion Lounges are widely considered the best airport lounges in the US — full hot food menus, open bars with premium spirits, spa services, and fast WiFi. Current US locations include New York JFK, New York LGA, Philadelphia, Dallas DFW, Las Vegas, Seattle, San Francisco, Los Angeles, Denver, Houston, Miami, Charlotte, Atlanta, and Washington Reagan.

The card also includes Priority Pass Select membership (1,300+ global lounges) and Delta Sky Club access (when flying Delta, capped at 10 visits/year as of 2024). For a frequent domestic flyer who passes through a Centurion Lounge location regularly, lounge access alone can justify the card's fee — a day pass to a comparable lounge typically costs $50–$80.

Elite Status Benefits

The Platinum includes automatic hotel status with both Marriott Bonvoy (Gold Elite) and Hilton Honors (Gold Status). Marriott Gold Elite gets you bonus points, late checkout, and room upgrades when available. Hilton Gold gets you bonus points, complimentary breakfast at most properties, and space-available room upgrades. These statuses are typically earned through spending significant nights at each chain — the Platinum gives them to you automatically, saving meaningful money and unlocking real perks if you stay at either chain regularly.

Pros & Cons

Pros
  • 80,000-point signup bonus
  • Centurion Lounge access — best lounges in the US
  • 5x on flights via Amex Travel or directly
  • $1,500+ in annual credits (if used)
  • Marriott Bonvoy Gold + Hilton Gold status
  • Global Entry / TSA PreCheck credit
  • 18+ Membership Rewards transfer partners
  • Fine Hotels + Resorts perks (room upgrades, breakfast, late checkout)
Cons
  • $695 annual fee — highest on this list
  • $8,000 minimum spend for bonus (6 months)
  • Credits require active management to capture
  • Some credits (Equinox, Walmart+) may not be useful to everyone
  • Only 1x on non-travel, non-flight spending
  • Centurion Lounge now charges for guests ($50+/visit)
  • Delta Sky Club capped at 10 visits/year

Who Should Get the Amex Platinum?

The Platinum is genuinely worth it for frequent flyers — specifically those who fly 15+ times per year through airports with Centurion Lounges, who book hotels through Amex Fine Hotels + Resorts at least twice per year, and who will realistically use the digital entertainment and Uber credits monthly. If that describes you, the card pays for itself before you count a single rewards point.

It's not the right card for people who fly occasionally, who don't pass through Centurion Lounge airports, or who find credit management tedious. For those travelers, the Capital One Venture X ($395) delivers roughly 80% of the travel perks at $300 less per year.

Advertiser Disclosure: EliteCardPerks may earn a commission if you're approved for the Amex Platinum through our links, at no cost to you. Terms apply. Last updated: February 2026.