The Platinum Card® from American Express review | Bankrate

Other cardholder perks

The Platinum Card is the cream of the crop when it comes to credit card perks, offering first-class travel benefits and a treasure trove of bonus credits worth over $1,000.

Premium perks like extensive airport lounge access, annual travel credits, elite hotel status and comprehensive travel protections are some of this card’s main attractions. However, you can also use several perks to save on everyday expenses, including credits for select digital entertainment subscriptions, Uber and Walmart+.

Credits and annual reimbursements

The wealth of travel credits and other annual reimbursements that users receive are extremely valuable, worth up to $1,709 each year.

• Up to $100 application fee credit for Global Entry or up to $89 application fee credit for TSA PreCheck (every four years)
• Up to $189 in CLEAR® membership statement credits by paying with your card (annually)
• Up to $200 in airline fee credits (per calendar year) for incidentals with a qualifying airline
• Up to $200 in credits for prepaid hotel bookings at Fine Hotels + Resorts or The Hotel Collection properties via American Express Travel annually (which requires a minimum two-night stay)
• Up to $200 in Uber Cash for rides and delivery ($15 per month, plus an extra $20 in December, available to basic cardmembers only)
• Up to $240 each year in digital entertainment credits (up to $20 in total statement credits per month) toward Disney+, Hulu, Peacock, ESPN+, Audible, SiriusXM and The New York Times subscriptions (enrollment required). 
• Up to $300 in eligible Equinox fitness membership credits per year toward in-club or digital membership fees, including Equinox All Access, Destination, E by Equinox or Equinox+ (enrollment required – see terms for details). Since the start of 2023, statement credits for the $300 Equinox Credit benefit are now provided on an annual basis of up to $300 per year and will no longer be provided on a monthly basis of up to $25 back per month.
• Up to $100 for Saks Fifth Avenue purchases annually ($50 for January through June and $50 for July through December)
• Up to $100 credit on qualifying hotel purchases (per two-plus consecutive night stays with a brand in The Hotel Collection)
• Up to $155 per year in Walmart+ monthly membership credits ($12.95 plus applicable local sale taxes), available each month your Walmart+ monthly membership is paid with your card (Plus Ups are excluded)
• $300 credit for a single, eligible SoulCycle At-Home bike purchase using your card through Amex’s provided link

As you can see, frequent travelers who spend heavily on Uber rides, airline incidentals, hotel bookings through Amex and expedited security can almost make up the steep $695 annual fee in credits alone.

Some of these credits are a bit niche and may be hard for the average person to take advantage of (such as the fitness-related annual credits and Wheels Up’s premium private jet program membership). This can make the Platinum Card’s perks feel scattered if you don’t place a priority on luxury travel. On the bright side, authorized users can help you take advantage of a few features, including the recurring Equinox, digital entertainment, hotel and CLEAR® credits.

The Global Lounge Collection access

Along with the Platinum Card, Amex has also expanded the Centurion Network to encompass over 40 Centurion Lounge and Studio locations around the world. Now American Express Platinum cardholders will be able to cool their jets in more than 1,400 airport lounges across 140 countries and over 650 cities.

You’ll have access to the most extensive portfolio of airport lounges available on a card. When you book your flight with your card, you can visit the Centurion Lounge, the International American Express Lounge, Delta Sky Clubs (for Delta flights only), Priority Pass Select lounges, Airspace lounges, Escape lounges, Plaza Premium lounges, Lufthansa lounges and more.

Hotel benefits and complimentary elite status

On top of the 5X points on prepaid hotels booked on American Express Travel portal, Amex Platinum cardholders also receive complimentary benefits ranging from room upgrades, credit for hotel purchases and other check-in privileges. Hotels in the American Express Fine Hotels + Resorts program grant cardholders perks worth up to $550 for each stay at 1,000-plus luxury hotels worldwide, plus upgraded rooms and up to $100 toward hotel activities at over 600 locations in The Hotel Collection.

You can also receive a complimentary night or $150-plus property credit after booking an eligible stay at participating Hotel Collection locations through American Express Travel, or another complimentary night or $250-plus property credit for doing the same at a participating Fine Hotels + Resorts property (terms apply).

Platinum Card members also get complimentary Marriott Bonvoy Gold Elite Status and Hilton Honors Gold Status to stack their benefits. To top it all off, you can also use the American Express Platinum Concierge to reserve and plan your stay.

Premium trip protections

Platinum cardholders are well-covered when it comes to travel insurance and protections. Your trip is secured with up to $500 per trip (up to two claims each 12 months) in trip delay insurance and up to $10,000 per trip or $20,000 per card (each 12 months) in trip cancellation insurance. These may be the most important insurances travelers normally pay for, and the Platinum Card’s level of coverage ties it with the Chase Sapphire Reserve® as the best card for travel insurance.

Highway travelers can also use this card to receive car rental loss and damage insurance along with complimentary premium car rental program membership benefits.