The Platinum Card® from American Express review: Are the perks worth the price tag?

• American Express Platinum Card credits

  • Travel credits

    • Up to $200 in airline fee credits (per calendar year) for incidentals with your selected qualifying airline

    • Up to $200 in credits for prepaid hotel bookings at Fine Hotels + Resorts or The Hotel Collection properties via American Express Travel annually when using your Platinum Card. (The Hotel Collection requires a minimum two-night stay)

    • Up to $100 credit on qualifying hotel purchases (per two-plus consecutive night stays with a brand in The Hotel Collection)

    • Up to $199 in CLEAR Plus membership statement credits by paying with your card (annually)

    • Up to $120 application fee credit for Global Entry (every four years, includes TSA PreCheck®) or up to $85 application fee credit for TSA PreCheck® (every 4.5 years, through an official enrollment TSA provider), when charged to your Platinum card.

  • Subscription service credits

    • Up to $200 in Uber Cash for rides and Uber Eats deliveries ($15 per month, plus an extra $20 in December). Add your Amex Platinum to your Uber account and redeem with any Amex card. Terms Apply.

    • Up to $240 each year in digital entertainment credits (up to $20 in total statement credits per month) toward Disney+, Hulu, Peacock, ESPN+, The Wall Street Journal and The New York Times subscriptions (enrollment required). 

    • Up to $155 per year in Walmart+ monthly membership credits ($12.95 plus applicable local sale taxes, subject to auto-renewal; available as a statement credit when you use your Platinum card to pay; Plus Ups are excluded)

  • Shopping and purchase credits

    • $300 credit for a single, eligible SoulCycle At-Home bike purchase using your card through Amex’s provided link

    • Up to $300 in eligible Equinox fitness membership credits per calendar year toward in-club or digital membership fees (enrollment required; see terms for details)

    • Up to $100 for Saks Fifth Avenue purchases annually ($50 for January through June and $50 for July through December) 

• American Express® Gold Card

  The American Express® Gold Card is my top pairing choice, since it meets my everyday spending needs with outstanding rewards rates for restaurants and U.S. supermarket purchases with high annual limits for both categories. I earn 4X points on my Gold card for food-related needs and maximize the perks of the Platinum for my travel needs, making these two cards one of my favorite combinations.

  Although adding the Amex Gold’s $325 annual fee may seem intimidating, the card’s multiple valuable dining perks alone make up for the cost. The monthly Uber credit also stacks with the Platinum’s credit, effectively giving you a bigger discount on your ride or Uber Eats purchase, as long as you select one of your Amex cards as the payment method.

• The Blue Business® Plus Credit Card from American Express

  The The Blue Business® Plus Credit Card from American Express is the baseline of the Amex trifecta, earning 2X points on all purchases (up to $50,000, then 1X). I use it for all my small-business purchases that don’t fit in the Gold or Platinum’s bonus categories. 

  As long as I have at least one Membership Rewards-earning card open, my rewards won’t expire. I also took advantage of a generous intro APR offer when I opened the card. Having just the Blue Business Plus and the Platinum is a decent combination, but having all three parts of the trifecta is the best way to proceed if you want to earn the most rewards possible. 

The Platinum Card® from American Express

Bankrate Score

Rating: 4.8 stars out of 5

4.8

See Rates & Fees , Terms Apply

Apply now

on American Express's secure site

Annual fee

$695

Intro offer

Earn 80,000 points

Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

Rewards rate

5X - 5X

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. Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.

Recommended Credit Score

Good to Excellent

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Chase Sapphire Reserve®

Bankrate Score

Rating: 5 stars out of 5

5.0

Apply now

on Chase's secure site

Annual fee

$550

Intro offer

60,000 bonus points

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

Rewards rate

1x - 10x

Earn 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠. Earn 5x total points on flights through Chase Travel℠. Earn 3x points on other travel and dining. Earn 1 point per $1 spent on all other purchases.

Recommended Credit Score

Excellent (740 – 850)

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

American Express® Gold Card

Bankrate Score

Rating: 4.9 stars out of 5

4.9

See Rates & Fees , Terms Apply

Apply now

on American Express's secure site

Annual fee

$325

Intro offer

Earn 60,000 points

Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

Rewards rate

1X - 4X

Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.

Recommended Credit Score

Good to Excellent

A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

• The Platinum Card® from American Express vs. Chase Sapphire Reserve®

  Despite the Amex Platinum’s deeper list of features, the Chase Sapphire Reserve® is still a stiff competitor with a lower $550 annual fee. The Chase Sapphire Reserve gets an edge over the Amex Platinum with a larger set of reward categories, including restaurants and travel purchases. While the Chase Sapphire Reserve doesn’t carry nearly as many credits or offer as extensive airport lounge access as the Amex Platinum, its annual $300 travel credit is much broader than the Platinum Card’s hotel and airline-oriented credits and the travel insurance and protections are slightly better.

  The Sapphire Reserve pairs well within the Chase trifecta by enhancing the value of all your Ultimate Rewards-earning cards. When you redeem rewards with Chase Travel through the Reserve, you’ll get a 50 percent redemption value boost. You can combine points from yourself and another household member to the Reserve to access Chase’s transfer partners. However, while the Amex Platinum doesn’t boost the value of your points, it does pool together automatically with other Amex cards.

  Deciding between these cards comes down to which issuer’s transfer partners you prefer, whether you’ll use the perks offered, and what other cards you plan to have to pair together. I have both cards but use them for completely different needs. I tend to use Ultimate Rewards points for domestic travel and Hyatt transfers, while I pile up my Membership Rewards points for international premium class flight redemptions.

• The Platinum Card® from American Express vs. American Express® Gold Card

  The American Express® Gold Card isn’t exactly a low-cost version of the Platinum Card, but its much lower $325 annual fee can make it a stronger option for people who don’t travel enough to justify the Platinum’s high annual fee but still need the purchasing power of a flexible spending limit. 

  Foodies should prefer the Amex Gold since it’s one of the best cards for dining and groceries, earning 4X points at restaurants worldwide (up to $50,000 in purchases per calendar year, then 1X points) and U.S. supermarkets (up to $25,000 in purchases per calendar year, then 1X points). The Amex Gold also offers numerous dining credits (enrollment required) that can practically offset the annual fee on their own. 

  Decide whether you want travel perks or rewards on everyday purchases. If you want perks, choose the Platinum. If you don’t travel enough to make the Platinum’s perks valuable and want top-tier rewards on your spending, choose the Gold.

• When do you have to pay the annual fee for the Amex Platinum card?

  Your first annual fee will be charged at the end of your first statement period after opening your Platinum Card, and you’ll need to pay the annual fee on that anniversary date each year after.

• Is the Amex Platinum card a credit card or charge card?

  The Platinum Card has flexible spending limits and the issuer’s Pay Over Time feature lets you revolve a balance (with interest charges) by opting in via your account.
  
  

• What credit score do I need to get approved for the Amex Platinum?

  For the best chance at approval, you’ll need a good-to-excellent credit score (670 or higher FICO score). You can check Bankrate’s CardMatch™ tool to see if you’re matched with the Amex Platinum.

• Rewards value

  The primary criteria for a rewards or cash back card’s rating is its rewards value. This includes the card’s average rewards rate, estimated annual rewards earnings, sign-up bonus value and reward redemption value.

  To estimate a card’s average annual rewards earnings, we first calculate its average rewards rate based on how much it earns in different bonus categories and how closely its categories align with the average person’s spending habits, according to data from the Bureau of Labor Statistics. 

  Based on this data, we determine a “chargeable” spend (which purchases are likely to be put on a credit card and earn rewards). This includes the following spending by category:

  • Groceries: $5,200
  • Dining out: $3,000
  • Entertainment: $2,500
  • Gas: $2,100
  • Apparel and services: $1,700

  Using this data, we assign a weighting to each of a card’s bonus categories. For example, a card’s grocery rewards rate receives a 23 percent weighting based on how much of the average person’s budget is spent on groceries. We also estimate the redemption value of points or miles from various issuer, airline and hotel rewards programs.

  This weighting and rewards valuation allows us to estimate a card’s average annual rewards earnings — how many points or miles you’d earn with a given card if your spending was about average and you used the card for all of your purchases, as well as what those points are worth. We also use point valuations to determine a card’s sign-up bonus value

  With these calculations complete, we assign each card a score based on how its average rewards earnings, sign-up bonus value, rewards rate and redemption value stack up against other rewards cards.

• Rates and fees

  We also rate cards based on how much it costs to keep them in your wallet or carry a balance. 

  To start, each rewards or cash back card is scored based on whether it offers an intro APR and how its ongoing APR compares to the rates available on other rewards or cash back cards. 

  We also score each card based on how its annual fee influences its overall value. 

  We consider a card’s annual fee in two ways — how it ranks relative to the fees you’ll find on other cards in the category and how it impacts a card’s overall rewards value. Cards with an annual fee will always be at a slight disadvantage in our scoring system since annual fees inherently cut into your rewards value, but if a card offers terrific value via its ongoing rewards and perks, it can earn a high score even if it carries a high annual fee. 

  With this in mind, we rate a card based primarily on how its ongoing rewards value and ongoing perk value (such as annual credits or bonuses) stack up against other cards in the category when you subtract its annual fee.

• Flexibility

  We rate each card’s flexibility based on the restrictions it imposes on earning and redeeming rewards and factor this rating into a card’s overall score. 

  Flexibility factors include whether a card only allows you to earn a high rewards rate on a small amount of spending or requires you to meet a certain earning threshold before you can redeem rewards. We also examine whether your points are worth less when you redeem for some options versus others and whether a card gives you the flexibility to transfer rewards to airline and hotel partners. 

• Perks

  We also score each card’s set of features – its perks and benefits — against five tiers of features to provide a rating. 

  We break down these tiers as follows:

  • Tier 1 has less than standard card features (an ultra-streamlined card that offers basic utility and next to nothing in the way of ancillary benefits. 
  • Tier 2 includes the benefits you’d expect on standard Visa or Mastercard credit cards, such as free access to your credit score, car rental insurance and $0 liability for fraudulent charges. 
  • Tier 3 includes “prime card” or better-than-average card features like cellphone insurance, lost luggage insurance, concierge services and purchase protection. 
  • Tier 4 includes luxury features such as airport lounge access, elite status with an airline or hotel and credits for expedited security screening membership programs. 
  • Tier 5 includes the sort of exemplary benefits you’ll find on top-tier luxury cards, such as high-value travel credits, cardholder memberships and other unique and valuable perks.

What cardholders think

The Platinum Card® from American Express

4.4

50 ratings

In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are unedited and have not been reviewed or approved by credit card issuers.

88% of customers recommend this card

Score breakdown

5 stars

58%

4 stars

30%

3 stars

10%

2 stars

2%

1 star

0%

Score by category

Overall 4.4 / 5

Extra perks 4.3 / 5

Privacy and security 4.6 / 5

Customer service 4.3 / 5

Online portal or mobile app 4.4 / 5

Ease of rewards redemption 4.3 / 5

Rewards value 4.2 / 5

In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.