The Platinum Card® from American Express, is turning 40, and the issuer is celebrating its premium card’s big day with a bunch of limited-time promotions for cardmembers, including free hotel nights, transfer bonuses, statement credits and other premium offers.

This may be exciting news for current Amex Platinum cardholders or those actively considering applying for the card. For everyone else, however? Perhaps not as much. The travel credit card market is full of options better suited for most people, including people who prioritize premium perks.

Here’s what you need to know about the Amex Platinum birthday promotions and how they impact current and prospective cardholders, as well as some other cards we love that are likely better fits for many people:

What the new special offers from Amex include

The exclusive birthday promotions are live now and Amex will be running them through Sept. 30, 2024. Cardmembers can take advantage of:

  • Complimentary third nights on eligible stays at select Fine Hotels + Resorts and The Hotel Collection properties booked through the American Express Travel portal.
  • Forty percent more Hilton Honors points when transferring Membership Rewards points through May 31, 2024. Note that this offer is only available to current Platinum cardmembers for accounts opened on or before April 20, 2024.
  • Special access to select Global Dining Access by Resy restaurants across the U.S. from May 30 to September 26, 2024.
  • Statement credits or bonus Membership Rewards points for select purchases at Hilton, Delta, Hertz, JetBlue, Sephora, Lululemon, Oceania, Wine.com and Telecharge from May 9 to August 6, 2024, while supplies last. These offers are also only available to cardembers for accounts on or before April 20, 2024.
  • An opportunity to try a new Platinum-themed cocktail, the Platinum 1984, and special treats for cardholders visiting the Centurion lounges throughout the summer.
  • Exclusive access to specially curated events within the Premium Events Collection, including experiences across sports, fashion, art and dining, among others.

Are the Amex birthday limited-time offers worth it?

If you already have the Amex Platinum, some of these offers may prove valuable — in the right circumstances. For example, if you’re planning a short trip and typically stay at more premium properties, the third night for free can save you money. Certain statement credits can also come in handy when you’re booking travel or shopping at eligible merchants.

As for the transfer bonus, moving your Membership Rewards points to Hilton Honors is typically not the best use of your rewards. According to Bankrate valuations, Hilton Honors points are worth about 0.6 cents apiece on average, and Membership Rewards points — about 2 cents apiece on average. Even with the promotion, you’d lose out on some of your points’ potential value with the transfer.

For those shopping for a new travel card, these offers are even less compelling. Unless you’ve already decided the Amex Platinum is the right card for you, you’ll likely find other competitive options for a lower annual fee.

After all, the Amex Platinum is still a luxury travel card with a $695 annual fee. It provides the most comprehensive airport lounge access you can get with a credit card, as well as elite hotel loyalty status. But, unless you’re a big travel spender, you’ll be leaning on the card’s annual and monthly credit benefits to recoup the hefty fee.

Many of the credits are rather niche, like the card’s Equinox fitness membership or Saks Fifth Avenue credits. Other Amex Platinum offers, however, are truly exclusive, meaning they exclude the average cardholder. The private jet program membership perks the card provides spring to mind. As with any card and especially with a premium card like this, it’s important to keep in mind that you shouldn’t take on spending you weren’t already planning on to make the most out of credit card perks and points.

Other great credit cards to consider instead of the Amex Platinum

Capital One Venture X Rewards Credit Card image

Capital One Venture X Rewards Credit Card

  • You can get more functional premium travel benefits with a different card — and an annual fee that doesn’t require much work to offset. For instance, the Capital One Venture X Rewards Credit Card also provides complimentary lounge access at over 1,300 lounges globally, among other perks. The card’s credits alone are enough to offset its $395 annual fee. You’ll receive a $300 credit yearly for bookings made through the issuer’s travel portal and a 10,000-mile anniversary bonus (worth $100 when redeemed for travel).

Chase Sapphire Reserve® image

Chase Sapphire Reserve®

  • If you’re after valuable rewards, look into the Chase Sapphire Reserve®. When you book travel through the issuer’s portal, your points are worth 50 percent more. You also get airport lounge access and a $300 travel credit to reimburse yourself for travel purchases (and help you offset the card’s $550 annual fee).

Chase Sapphire Preferred® Card image

Chase Sapphire Preferred® Card

  • Remember that you don’t always need an expensive card to get excellent value. For instance, the Chase Sapphire Preferred® Card only charges $95 in annual fees and makes it easy to earn points with generous rewards rates on everyday spending categories. Similarly to the Chase Sapphire Reserve, it offers a boosted redemption value when redeeming through the issuer’s portal — your points are worth 25 percent more when you use them to book travel via Chase Travel. Additionally, you get a 10-percent anniversary bonus based on your total purchases the past year and stellar travel insurance perks.

Discover it® Miles image

Discover it® Miles

  • And if you don’t like the idea of annual fees altogether, it’s possible to find a travel card that doesn’t charge them. The Discover it® Miles is one example. While it doesn’t have any premium perks or even a travel portal, it provides solid value with a 1.5X-mile rate on all purchases. You can redeem rewards to get reimbursement for travel purchases or opt for cash back. In both cases, miles are worth 1 cent apiece. Further, Discover matches all the miles you earn in the first year with the card.

The bottom line

My take is the Amex Platinum’s birthday perks are best viewed as a way to thank the existing cardmembers. Their value is mostly circumstantial and shouldn’t be the sole reason to sign up for the card. However, if you’ve already been considering the card and could use some of the advertised offers, now might be a good time to apply.