The Platinum Card from American Express

Buy this for the lounge network and credits, not the rewards rate, since outside travel it earns a mediocre 1x. The $695 fee (as of 2026) only pencils out if you genuinely use the airline, hotel, and assorted lifestyle credits, which are split into monthly or category buckets that are easy to forget. A traveler who uses $700+ in credits comes out ahead; everyone else overpays versus the cheaper Venture X. Acceptance can be spotty at small merchants, and credit terms change, so check americanexpress.com.

The Platinum Card from American Express at a glance

Rewards & perks

• $200 credit toward airline fees
• $200 toward hotels
• Uber Cash
• Covers Global Entry or TSA enrollment
• Elite status at hotels

Pros

• Airport lounge access that few cards can match
• A long list of statement credits
• High-end concierge service and insurance

Cons

• Annual fee runs very high
• Getting full value from the credits takes some work

Who should apply

• An excellent credit score
• The credits and offers pay off most for people who travel a lot

Before you apply: card terms change often. Confirm the current annual fee, APR, welcome offer and rewards on the official American Express site. CreditCardCompare is an independent comparison resource, not the card issuer, and this is not financial advice.