The Amex Platinum Credit Card Review – Is It Worth It? [2023]

Annual Credits

One of the easiest ways to determine how worthwhile the Amex Platinum card will be to you is to consider how much value you’ll get out of the card’s annual credits, and whether or not that figure exceeds the annual fee you pay. These credits include:

Note that some credits require enrollment, so be sure to explore your American Express account to make the most of your card.

Lounge Access

By far one of the best benefits of the card is the level of airport lounge access that it offers via the American Express Global Lounge Collection.

Not only do you get access to Priority Pass lounges that many other premium credit cards offer, but you also get access to swanky Amex Centurion Lounges, International Centurion Lounges, Escape Lounges – The Centurion Studio Partner, Plaza Premium Lounges, Airspace Lounge, select Virgin Clubhouses, select Lufthansa lounges when flying with Lufthansa Group the same day, and Delta Sky Clubs when flying with Delta the same day.

This means that no matter what airport you find yourself in, you’ll almost always have a lounge that you can kick back and relax in thanks to your Amex Platinum card.

Hotel Elite Status

Cardholders get an automatic boost to Hilton Honors Gold status and Marriott Bonvoy Gold Elite status within each program upon enrollment.

Both status levels will earn you extra points on stays, space-available room upgrades, late checkout if available, and much more.

Rental Car Elite Status

If you regularly rent cars during your travels, you’ll love that the Amex Platinum card gets you automatic National Emerald Club Executive status, along with Avis Preferred and Hertz Gold Plus benefits.

Perks from each company include, but aren’t limited to, vehicle upgrades, discounts, expedited pickup lanes, and convenient dropoff locations.

Travel Protections

If anything goes wrong during your travels, your Amex Platinum card keeps you covered with the following travel insurance benefits:

• Trip Delay Insurance — Get reimbursed for up to $500 per ticket in covered expenses if your flight is delayed by 6 hours or requires an overnight stay. This includes items like lodging, food, etc.
• Trip Cancellation and Interruption Insurance — If you need to cancel a trip due to a covered cause, like server weather, you’ll receive a reimbursement of up to $10,000 per trip, and $20,000 per year, towards non-refundable travel expenses if you need to cancel your trip or end it early.
• Rental Car Insurance — Your card gives you secondary rental car insurance, which covers up to $75,000 towards accidental damage or theft of the vehicle.
• Baggage Insurance — If your baggage is lost or damaged while in transit with the carrier, you’re covered for up to $2,000 towards checked baggage and $3,000 towards carry-on baggage.

Consumer Protections

The doesn’t just offer travel protections though. You’re also covered with the following consumer protections:

• Cell Phone Insurance — Receive coverage for accidental damage caused to your cell phone, with up to $800 in coverage, up to 2 times per year, with a $50 deductible.
• Purchase Protection — If an item you’ve purchased gets stolen, accidentally damaged, or lost within 90 days of purchase, you’re covered for up to $10,000 per item and $50,000 per year.
• Return Protection — If you try to return an item within 90 days of purchase, and the merchant won’t accept it, you can be refunded by Amex for up to $300 per item, and up to $1,000 per year.
• Extended Warranty Coverage — This protection adds 1 year of extended warranty coverage to standard warranties that are 5 years or less.