Review: The Platinum Card® from American Express

Who is The Platinum Card® from American Express for?

Quick facts about the Amex Platinum

Review: Amex Platinum card

Let's dig into the world of the American Express Platinum Card, exploring its features, perks, and whether it's worth carrying in your wallet.

Earning points on the American Express Platinum Card

• 5X Membership Rewards® Points per dollar on flights booked directly with airlines or through American Express Travel®, on up to $500,000 on these purchases per calendar year.
• 5X Membership Rewards® Points per dollar on prepaid hotels booked through AmexTravel.com.
• 1X Membership Rewards® Points on all other eligible purchases.

In the world of travel rewards, you won't see 5X points per dollar spent very often. Since the only bonus points spending categories are airfare (directly with the airline or through American Express Travel), it won't be worth much if you don't travel often.

You will also earn 5X points per dollar on flights or prepaid hotels booked through American Express Travel.

Otherwise, all other eligible purchases made with the card earn 1X points for each dollar you spend. So, if your spending varies and you want to earn rewards on other categories like groceries or gas, the Amex Platinum won't be your best option.

Redeeming Amex points

Like earning points, redeeming points is pretty straightforward and will appeal primarily to frequent travelers. You can redeem in a few different ways, but one of the most valuable uses of your points can be booking travel through transfer partners. In some cases, you can double the value of your points from 1 cent each to 2.

What are the points transfer partners of the American Express Platinum Card?

The best way to use your points is to transfer them to Amex partners. Amex points to 18 airline partners:

• Aer Lingus: 1,000 Points = 1,000 Avios
• AeroMexico: 1,000 Points = 1,600 AeroMexico Rewards Points
• Aeroplan: 1,000 Points = 1,000 Aeroplan® Points
• AIR FRANCE KLM: 1,000 Points = 1,000 Flying Blue® Miles
• ANA Mileage Club: 1,000 Points = 1,000 ANA Mileage Club Miles
• Avianca LifeMiles: 1,000 Points = 1,000 LifeMiles
• British Airways Executive Club: 1,000 Points = 1,000 Avios
• Cathay Pacific: 1,000 Points = 1,000 Asia MilesTM
• Delta Air Lines: 1,000 Points = 1,000 miles
• Emirates Skywards: 1,000 Points = 1,000 Skywards Miles
• Etihad Guest: 1,000 Points = 1,000 Etihad Guest Miles
• HawaiianMiles®: 1,000 Points = 1,000 HawaiianMiles®
• Iberia Plus: 1,000 Points = 1,000 Avios
• JetBlue TrueBlue®: 250 Points = 200 TrueBlue points
• Qantas Frequent Flyer: 500 Points = 500 Qantas Points
• Qatar Airways Privilege Club: 1,000 Points = 1,000 Avios
• Singapore Airlines KrisFlyer: 1,000 Points = 1,000 KrisFlyer® Miles
• Virgin Atlantic Flying Club: 1,000 Points = 1,000 Virgin Points

In most cases, you can transfer your points to airline points or miles at a ratio of 1:1. Some might be slightly higher or lower. For example, with AeroMexico, you'll get 1,600 for 1,000, and JetBlue offers 200 TrueBlue points for 250 points. 

There are also three hotel partners you can transfer your points to. While most are 1:1, you can earn 2,000 Hilton Honors Points for 1,000 Membership Rewards Points.

Hotel partners:

• Choice Privileges®: 1,000 Points = 1,000 Choice Privileges®
• Hilton Honors: 1,000 Points = 2,000 Hilton Honors Points
• Marriott Bonvoy: 1,000 Points = 1,000 Marriott Bonvoy Points

Membership Rewards Points are usually transferred right away, but some transfers can take 48 hours. Read more here about how to transfer American Express Membership Rewards Points.

Welcome offer on the Amex Platinum 

The current welcome offer can get you a wide variety of travel experiences. Here are some ideas of what you could do with those points.

• Book a flight or hotel through the portal, where the welcome offer of 80,000 points is worth about $800 in travel. 
• Transfer 80,000 points to 160,000 Hilton Honors points, where hotel award stays start as low as 35,000 points per night.
• Transfer 80,000 points to British Airways Executive Club for 80,000 Avios toward your next flight.
• Transfer 80,000 points to AeroMexico for 128,000 AeroMexico Rewards Points—enough for at least a one-way ticket with AeroMexico or its partners, which include Delta Air Lines, Korean Air, and Air France.

Amex Platinum card benefits

The American Express Platinum Card is known for providing big benefits. In fact, its current lineup of goodies is valued at $1,500. So, you can get enough value out of the card's benefits in multiple ways to more than cover the annual fee. For example, the $200 in statement credits for airline incidentals, $200 annual hotel credit, and up to $200 in Uber Cash is $600.

Some of the other benefits that come with the card include:

• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts(R) or The Hotel Collection bookings through American Express Travel using your Platinum Card(R). The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card(R) on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• Access to the American Express Global Lounge Collection®: This can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. (As of 03/2023.)
• $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card(R) to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
• $200 Airline Fee Credit:  Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card(R).
• $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
• $199 CLEAR(R) Plus Credit: CLEAR(R) Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• Application credit for Global Entry or TSA PreCheck®: Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 year period for TSA PreCheck® application fee for a 5-year plan only (through a TSA PreCheck® official enrollment provider), when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card(R) to your Resy profile.
• Complimentary Gold status with Hilton Honors and Marriott Bonvoy.
• Complimentary car rental status: Hertz Gold Plus Rewards President's Circle, Avis Preferred Plus, and National Emerald Club Executive.
• Access to Amex Fine Hotels + Resorts and The Hotel Collection.
• Trip delay reimbursement for up to $500 per covered trip If it is delayed by more than six hours because of a covered reason.
• Cancellation insurance reimburses up to $10,000 per covered trip if you need to cancel or interrupt your trip because of a covered reason.
• Terms and conditions apply.

^{*Enrollment required for select benefits. Eligibility and benefit level varies by card. Terms, conditions and limitations apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. Trip Cancellation and Delay Coverage is underwritten by New Hampshire Insurance Company, an IAG Company.}

What are the drawbacks of the American Express Platinum Card?

The biggest drawback of the Amex Platinum Card is and has always been the luxury-priced annual fee. Combined with the limited opportunities to earn rewards, you'll need to be a super frequent traveler who isn't loyal to a particular airline or hotel brand to get enough from the card to be worth the annual fee. It won't hurt to take a quick tally of the benefits you'll use to determine the potential value to you.