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Is the American Express Platinum Card^® Worth the $895 Yearly Fee?

Taking advantage of the many American Express Platinum Card^® benefits, including its annual credits and premium travel perks, could help you offset its $895 annual fee.

By Ben Walker, CEPF, CFEI®

Edited by Allison Weston

Updated Oct. 2, 2025

The American Express Platinum Card^® is a premium card with a $895 annual fee, which is high compared to most travel credit cards.

But the cost could be worth it if you get enough value from the Platinum Card®'s rewards and benefits, including airport lounge access, elite status with different loyalty programs, and enough value each year from other perks (select benefits require enrollment).

Let's see if the American Express Platinum Card^® is worth the $895 yearly fee by exploring how useful its benefits might be for you.

American Express Platinum Card^® annual fee and rewards

The American Express Platinum Card^® has a $895 annual fee and provides 5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases.

You can also earn this welcome offer: Earn as high as 175,000 Membership Rewards points after spending $8,000 on eligible purchases on your new card in the first 6 months (welcome offers vary and you may not be eligible for an offer; apply and find out your offer).

Read our full American Express Platinum Card^® review

When the American Express Platinum Card^® yearly fee is worth it

The American Express Platinum Card^® $895 yearly fee is worth it if you can earn enough value from the card's welcome offer, rewards, and benefits, which more than offset the cost. This could be done through a combination of these three factors, or you might earn enough value from only one factor.

Welcome offer

Let's say you earn 80,000 Membership Rewards points through a new cardmember welcome offer. That could be worth at least $800 if redeemed for flights through American Express Travel® (amextravel.com), which more than offsets the $895 annual fee, without including any value you might receive from earning rewards or using card benefits.

Rewards rate

You can earn 5X points per dollar spent on eligible airfare (on up to $500,000 per calendar year, after that 1X) and eligible hotel purchases, and 1X points per dollar on all other eligible purchases.

The earning rate itself isn't likely to provide enough rewards each year for most cardmembers to offset the $895 annual fee before accounting for a welcome offer or other card benefits. But it's possible if you spend enough, typically over $10,000 per year, depending on the categories.

Perks and benefits

The American Express Platinum Card^® benefits are likely the easiest way to help offset the $895 annual fee each year. Some of these benefits include:

Up to $200 airline fee credit per calendar year when incidental fees on one qualifying airline are charged to your card
Up to $200 ($15 monthly plus $20 in December) annual Uber Cash and an annual $120 Uber One credit.
Up to $300 annual digital entertainment credit for eligible purchases made with Disney+, the Disney+ Bundle, ESPN+, Hulu, Peacock, Paramount+, YouTube, and The New York Times
Up to $600 hotel credit in annual statement credits for prepaid Amex Travel bookings through Amex Fine Hotels + Resorts or The Hotel Collection (requires a minimum 2-night stay)
$400 annual Resy credit ($100 per quarter)
$300 lululemon credit
Up to $209 annual CLEAR Plus credit
Up to $155 and applicable local sales tax per year Walmart+ credit (up to $12.95 plus applicable local sales tax. Plus Ups not eligible.)
Up to $100 ($50 semi-annually) annual Saks Fifth Avenue credit
Up to $120 application fee credit for Global Entry or up to $85 for TSA PreCheck (only one credit every four years for Global Entry or every 4.5 years for TSA PreCheck; 5-year plan only)
Up to $300 Equinox credit offered in statement credits each year on a digital or club membership at Equinox

(Select benefits require enrollment.)

These benefits alone easily offset the $895 annual fee and provide additional value on top.

When the American Express Platinum Card^® yearly fee is not worth it

The American Express Platinum Card^® $895 yearly fee isn't worth it if you can't earn enough value each year from the card's welcome offer, rewards rate, and benefits.

Keep in mind that you likely won't be earning any welcome offers after the first year of being a cardmember, so it comes down to whether you spend enough on the card each year and/or can take advantage of the card's benefits.

In general, spending over $10,000 on the Platinum Card® each year might not make sense for every cardholder trying to offset the $895 annual fee. And the range of Platinum Card® benefits won't be the best fit for every situation.

For example, you might not travel enough to use the available airport lounge access benefits, or you might not find value with the Walmart+ credit because you don't shop at Walmart. And receiving up to $200 in Uber Cash (terms apply) each year might not actually be worth $200 to you. That's because if you use Uber Cash for Uber Eats orders, the prices are often higher on Uber Eats than they would be if you ordered directly from the restaurant or store. (Select benefits require enrollment.)

If you consistently find American Express Platinum Card^® benefits don't align with your travel habits or lifestyle, it could be difficult to offset the $895 annual fee. In many situations, the Platinum Card® won't be worth it.

If that's the case for you, consider other options on our list of the best travel credit cards. Most of these cards have lower annual fees and don't require as much effort to get value from card benefits.

American Express Platinum Card^® other benefits and perks

There are loads of American Express Platinum Card^® benefits, including benefits that don't necessarily have a set value. For example, how much value would you put on airport lounge access or having Marriott Bonvoy® Gold Elite Status? (Select benefits require enrollment.)

Here are some Platinum Card® benefits that could range in value depending on the situation.

Airport lounge access

The American Express Platinum Card^® provides access to the American Express Global Lounge Collection (for eligible Card Members), which includes access to airport lounges worldwide, including these lounge networks:

The Centurion Network, including The Centurion Lounge and Escape Lounges - The Centurion Studio Partner
Delta Sky Club
Select Lufthansa Lounges when flying Lufthansa
Priority Pass (requires enrollment)

The value of an airport lounge access benefit goes up the more you use it, but it's still hard to put a price on it. For example, buying a similar Priority Pass membership for a year costs over $400, and an individual Delta Sky Club annual membership costs $695.

Amex values this benefit at $850 annually, but it really depends on how often you use the benefit. If you're using it multiple times a month, you could be getting hundreds of dollars' worth of value from food, beverages, and general relaxation in airport lounges. But using an airport lounge once or twice a year could mean a lot less value.

Elite status

As an American Express Platinum Card^® cardholder, you can receive these elite status benefits:

Marriott Bonvoy® Gold Elite Status
Hilton Honors™ Gold Status
Avis Preferred elite status
Hertz Gold Plus Rewards elite status
National Car Rental® Emerald Club Executive® status
(Select benefits require enrollment)

The value of receiving elite status with these different hotel and car rental loyalty programs depends on how often you book travel with the associated companies. Even if you tend to frequently use any of these programs, the value also depends on the specific situation.

For example, Hilton Honors Gold elite status provides space-available room upgrades and daily food and beverage credit (or continental breakfast) depending on the brand and region. Depending on the hotel and its location, you might not receive either of those benefits on a stay, or you might receive both.

But the value you personally receive from getting a breakfast credit or a room upgrade varies. And so it goes with many other similar benefits related to having a certain level of elite status with different loyalty programs.

In general, the levels of elite status you can receive with the American Express Platinum Card^® aren't the highest, so you shouldn't expect the best available benefits. But getting a complimentary car rental upgrade, hotel room upgrade, or late checkout could still offer plenty of value.

Travel and purchase insurance

Credit card travel insurance and purchase protections are typically useful only if you actually have to use them or if they help you avoid having to pay for another type of insurance. The American Express Platinum Card^® provides these types of insurance and protections:

Car rental loss and damage insurance¹ Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. <ul><li>Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. </li><li>Please visit americanexpress.com/benefitsguide for more details. </li><li>Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.</li></ul>
Trip delay insurance² Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. <ul><li>Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. </li><li>Please visit americanexpress.com/benefitsguide for more details. </li><li>Underwritten by New Hampshire Insurance Company, an AIG Company.</li></ul>
Trip cancellation and interruption insurance³ The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period.<ul><li>Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. </li><li>Please visit americanexpress.com/benefitsguide for more details. </li><li>Underwritten by New Hampshire Insurance Company, an AIG Company.</li></ul>
Return protection⁴ With Return Protection, you may return eligible purchases to American Express if the seller won't take them back up to 90 days from the date of purchase. American Express may refund the full purchase price excluding shipping and handling, up to $300 per item, up to a maximum of $1,000 per calendar year per Card account, if you purchased it entirely with your eligible American Express® Card. Purchases must be made in the U.S. or its territories.<ul><li>Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. </li><li>Please visit americanexpress.com/benefitsguide for more details.</li></ul>
Purchase protection⁵ Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply.  <ul><li>Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. </li><li>Please visit americanexpress.com/benefitsguide for more details.</li><li>Underwritten by AMEX Assurance Company.</li></ul>
Extended warranty⁶ When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year.<ul><li>Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. </li><li>Please visit americanexpress.com/benefitsguide for more details. </li><li>Underwritten by AMEX Assurance Company.</li></ul>
Cell phone protection⁷ Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period.<ul><li>Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. </li><li>Please visit americanexpress.com/benefitsguide for more details. </li><li>Underwritten by New Hampshire Insurance Company, an AIG Company.</li></ul>

The actual value of each type of coverage or protection varies. As an example, you could receive up to $800 for a successful cell phone protection claim, subject to a $50 deductible and limited to two claims per 12-month period.

FAQs

Is the American Express Platinum Card^® worth it after a year?

It depends on if you get enough value from its benefits to more than offset the $895 annual fee. This isn't too difficult, considering you could receive value from the many perks and credits available to American Express Platinum Card^® cardholders.

But you also have to consider whether you would be using some of those benefits in the first place, such as the up to $240 annual digital entertainment credit or the up to $100 in annual statement credits for purchases at Saks Fifth Avenue (select benefits require enrollment).

If you're using only some of these services because you have a Platinum Card®, it's likely time to consider whether the card is worth it for you.

How much should you earn a year for the American Express Platinum Card^®?

There's no official income requirement to qualify for the American Express Platinum Card^®, but it's typically seen as a card for people with high incomes. For example, the Departures magazine is for Platinum Card® members, and a recent survey shows that the magazine's readers' average annual household income is $330,000.

For more options, check out available American Express credit cards.

Are there other travel credit cards with a lower annual fee?

There are plenty of travel credit cards with no annual fees and travel cards that have reasonable annual fees. Here are some of our recommended options:

Bank of America^® Travel Rewards credit card: $0 annual fee
Chase Sapphire Preferred^® Card: $95 annual fee
Capital One Venture Rewards Credit Card: $95 annual fee
Citi Strata Premier^® Card: $95 annual fee

Bottom line

The American Express Platinum Card^® $895 annual fee is likely worth it if you can easily take advantage of the card's many premium travel perks and benefits. This could include using different credits to help offset the cost, but it helps to frequently use the benefits, such as airport lounge access and elite status with different loyalty programs (select benefits require enrollment).

The American Express Platinum Card^® $895 yearly fee likely isn't worth it if you're not a frequent traveler or you don't get much value from the card's various annual credits.

For more of our recommended options, compare credit cards to find the right card offer for you.

Benefits

Card Details

$0 annual fee
Simple, flat-rate rewards
Flexible redemption options
Up to 75% Bank of America Preferred Rewards® bonus potential
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25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees and your points don't expire as long as your account remains open.
Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
Use your card to book your trip how and where you want - you're not limited to specific websites with blackout dates or restrictions.
Redeem points for a statement credit to pay for travel or dining purchases, such as flights, hotel stays, car and vacation rentals, baggage fees, and also at restaurants including takeout.
0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.99% - 27.99% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%. Balance transfers may not be used to pay any account provided by Bank of America.
If you're a Bank of America Preferred Rewards® member, you can earn 25%-75% more points on every purchase. That means instead of earning an unlimited 1.5 points for every $1, you could earn 1.87-2.62 points for every $1 you spend on purchases. You could earn 3.75-5.25 points for every $1 you spend on travel purchases made through the Bank of America Travel Center.
Contactless Cards - The security of a chip card, with the convenience of a tap.
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

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Intro Offer

Earn 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases

Annual Fee

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