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American ExpressThe Platinum Card®

•••• •••• •••• 7129

VALID THRU12/29

AMEX

Travel CardsPremium Cards

Annual Fee

$895

Foreign Txn Fee

Credit Needed

Good to Excellent (700+)

APR

19.49%–28.49% variable (Pay Over Time)

Rewards Categories

5x Flights booked directly or via Amex Travel

5x Prepaid hotels via Amex Travel

1x All other purchases

Benefits

Access to 1,550+ airport lounges: Centurion Lounges, Delta Sky Clubs, Priority Pass Select

Up to $600 annual hotel credit ($300 semi-annually) via Fine Hotels + Resorts/The Hotel Collection

$200 Uber Cash annually + $120 Uber One membership credit

Up to $200 airline fee credit (select one qualifying airline)

Up to $189 CLEAR Plus credit annually

Up to $100 Saks Fifth Avenue credit annually

Hilton Honors Gold and Marriott Bonvoy Gold elite status (enrollment required)

Hertz Five Star, Avis Preferred, National Emerald Club Executive status

Global Entry/TSA PreCheck credit (up to $120 every 4–4.5 years)

Cell phone protection, trip delay/cancellation insurance, purchase protection

Welcome Bonus

Up to 175,000 Membership Rewards® points after meeting spend requirement

Pros & Cons

Pros

Best-in-class airport lounge network (Centurion + Delta Sky Club + Priority Pass)

Statement credits can offset much of the $895 fee if you use them all

Strong hotel elite status (Hilton Gold, Marriott Gold) with no separate cost

Points transfer to 20+ airline/hotel partners

Cons

$895 annual fee is among the highest of any personal card

Many credits require specific merchants (Uber, Saks, one airline) — easy to leave value unused

Only 5x on flights/hotels booked directly or via Amex Travel; 1x on everything else

Authorized user fee is steep ($195 for first additional card)

Best For / Worst For

Best For

Frequent flyers who can fully use the lounge access and travel credits

Worst For

Casual travelers who won't use Uber, Saks, CLEAR, or one specific airline credit

Reward Valuation

Membership Rewards points generally valued around 1.7–2.0 cents each when transferred to airline/hotel partners; redeeming via Pay With Points or statement credits yields closer to 0.6–1 cent per point.

Points Value Breakdown

Average Value

1.80¢/point

Travel Redemption

1¢/point

Transfer Partner Value

2¢/point

Statement Credit Value

0.60¢/point

Cash-Out Value

0.60¢/point

Example

175,000 welcome bonus points ≈ $1,750 transferred to airline/hotel partners at ~2¢ each, versus only ~$1,050 if redeemed as a Pay With Points statement credit at 0.6¢ each.

Statement Credits

Hotel Credit

Up to $600/yr

$300 semi-annually via Fine Hotels + Resorts or The Hotel Collection (2-night minimum)

Uber Cash

$200/yr

$15/mo + $20 in December, must add Amex to Uber app

Airline Fee Credit

Up to $200/yr

Select one qualifying airline annually; covers incidentals not tickets

CLEAR Plus

Up to $189/yr

Covers a CLEAR Plus membership

Saks Fifth Avenue

Up to $100/yr

$50 semi-annually

Transfer Partners

Delta SkyMiles

No transfer fee

1:1

British Airways Avios

Good for short-haul award flights

1:1

Air France/KLM Flying Blue

Frequent transfer bonuses

1:1

Marriott Bonvoy

60,000 Marriott bonus at 100,000 points transferred

1:1

Hilton Honors

Hilton awards generally need more points

1:2

Travel Protections

Trip Delay Insurance

Reimbursement for delays of 6+ hours, up to $500 per trip

Trip Cancellation/Interruption

Up to $10,000 per trip, $20,000 per 12 months

Baggage Insurance

Up to $2,000 for checked, $3,000 for carry-on

Global Assist Hotline

24/7 emergency medical and legal referrals while traveling

Insurance Benefits

Cell Phone Protection

Up to $800 per claim against damage/theft when bill paid with card

Car Rental Loss & Damage

Primary coverage when rental charged to card and decline rental agency insurance

Purchase Protection

Covers eligible purchases against damage/theft for 90 days

Banking Relationship Benefits

High-Yield Savings Account (HYSA)

Amex gives you a HYSA after 3 months of having one of their cards, via Amex Rewards Checking and Amex High Yield Savings.

Preferred / Premium Checking

Amex gives you a checking account after 6 months of having one of their cards, through Amex Rewards Checking with no monthly fees.

Approval Odds

Typically requires good to excellent credit (700+) and sufficient income to support the $895 fee. Amex considers total relationship and existing Amex debt-to-income.