American ExpressPlatinum

3463 161262 61815

VALID THRU 02/32ALEX MORGAN

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Premium Cards · United States

The Platinum Card from American Express

4.7 / 5 editorial rating

Best for: Frequent flyers who'll exhaust the lounge access and statement credits

Reviewed by the CreditCardCompare editorial team · Fees and rates checked September 2026 — confirm on the issuer's site before you apply

Annual fee$895/yr

IssuerAmerican Express

NetworkAmex

Purchase APRSee terms (Pay Over Time)

Foreign transaction feeNone

Credit neededExcellent (740+)

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

Check current offer on issuer site Compare USA cards

Rates and offers change. Confirm today's terms on the issuer's official site before applying. Independent comparison — not financial advice.

Our take on the The Platinum Card from American Express

The Platinum Card from American Express is the best choice for a frequent flyer who wants the widest airport lounge access on one card and will actively claim credits, because at $895 a year as of September 2026 it only pays for itself when you use several of them. Amex lists a hotel credit of up to $600, Resy dining up to $400, digital entertainment up to $300, lululemon up to $300, an airline fee credit up to $200 and Uber Cash up to $200, among others.

Many of those credits are split into monthly, quarterly or semi-annual pieces. The Resy credit is $100 a quarter and the entertainment credit is $25 a month, so a missed period is value you do not get back. We suggest counting only credits you would have spent anyway, at full value, and ignoring the rest. If that total does not exceed $895, the card is a net cost.

The earning is narrow: 5x on flights booked with airlines or Amex Travel (on up to $500,000 a year) and on prepaid hotels booked through Amex Travel, then 1x on everything else. That makes the Platinum a travel-and-benefits card rather than a spending card, and most holders will want a second card that earns more at restaurants and supermarkets.

Good fit if

You fly several times a year and want lounge access as a primary benefit
You already spend on Uber, Resy restaurants, streaming and lululemon, so the credits replace money you would spend anyway
You buy enough airfare that 5x on flights adds up

Skip it if

You don't want to track monthly and quarterly credits
Most of your spending is groceries, gas and dining, which earn only 1x here

Worked example

Assume you spend $6,000 a year on flights booked directly with airlines and $2,000 a month ($24,000 a year) on everything else. Flights earn 30,000 points at 5x and other spending earns 24,000 points at 1x, for 54,000 points. At a conservative 1 cent per point that is $540, well short of the $895 fee. Add the $200 airline fee credit and one $300 half of the hotel credit, if you would really use them, and you reach $1,040, about $145 ahead.

How it stacks up

The Capital One Venture X offers Priority Pass and Capital One Lounge access for $395 and earns 2x on everyday spending, so travelers who mainly want lounges pay far less. The Chase Sapphire Reserve at $795 has a simpler $300 travel credit and 3x on dining, which makes it the better fit if restaurants are a large part of your budget.

Buy this for the lounge network and credits, not the rewards rate, since outside travel it earns a mediocre 1x. The $895 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.