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American Express Platinum Card® review: An expensive but valuable coupon book
Editors’ take: The seemingly endless list of benefits makes it the coupon book of credit cards. If you use enough of them, you’ll get unparalleled value even with the high annual fee.
Image: hands-thumbs-upGreat for maximizing your credits and perks
Image: cashAnnual fee: $895
The average credit score for members who have matched with this card or similar cards is 709
The average credit limit for members who have matched with this card or similar cards is $15,065
Explore more about this card:
Here’s the average credit limit of members who matched their American Express Platinum Card® or similar cards.
% of members by credit limit range
The average credit limit for members who have matched with this card or similar cards is $15,065, with $5,000 being the most common. The American Express Platinum Card® does not have a traditional credit limit and was compared to similar premium cards.
Here’s the average credit score of members who matched their American Express Platinum Card® or similar cards.
% of members by credit score range
The average credit score for members who have matched with this card or similar cards is 709, with 810 being the most common. Note this is just one of the deciding factors when it comes to getting approved.
This content is curated by Intuit Credit Karma’s Editorial team using data from members who were approved for this card or similar cards, or who self-matched this card or similar cards. Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse this content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.
Member stats
Updated daily
Image: low-utilization26.4%
Average credit utilization (or what percent of the card’s credit limit is being used) of members who matched with this card or similar cards.
The American Express Platinum Card® does not have a traditional credit limit; utilization for this card is not calculated the same as cards with credit limits.
Image: meetup41 years
Average age of members who matched this card or similar cards.
Image: cash-give-1$107,383
Average annual income of members who matched this card or similar cards. Note: Income may be estimated for some members by Credit Karma and may differ from members’ actual incomes.
Pros and cons
Image: yesBig welcome bonus
Image: yesPlenty of interesting travel and lifestyle credits
Image: yesLots of airline and hotel transfer partners
Image: ConExpensive annual fee
Image: ConStatement credits come with strings attached
American Express Platinum Card® review
Updated October 2, 2025
This date may not reflect recent changes in individual terms.
Written by: Tim Devaney
Is the American Express Platinum Card® worth it?
The American Express Platinum Card® is designed for big spenders who aren’t afraid to pay more to get more.
If you can claim many of the travel and lifestyle credits, this card could be a great deal, even with its annual fee of $895.
The American Express Platinum Card® also may be a good fit if you make enough travel purchases each year to help offset the annual fee or want extra perks like premium lounge access.
American Express Platinum Card® at a glance
- Annual fee: $895
- Welcome bonus: As high as 175,000 points after spending $8,000 on purchases in the first 6 months from account opening (you might see different offers on Credit Karma or through Amex). You must apply before finding out the welcome bonus you’ll be offered. Welcome offers vary, and you may not be eligible for an offer.
- Editors’ estimated welcome bonus value: $1,995
- Standout benefit: Access to The Centurion Lounge network and other lounges through the Global Lounge Collection
- Standout rewards rate: 5 points per $1 on flights booked directly through airlines or through the American Express travel portal (on up to $500,000 spent per calendar year and then 1 point per $1)
American Express Platinum Card® best perks and features
A strong welcome bonus
The American Express Platinum Card® has a generous welcome bonus. The bonus may be as high as 175,000 points after spending $8,000 on purchases in the first 6 months from account opening, though the offers you may see can vary.
That can make a big dent when you book your next trip.
More rewards when you travel
The American Express Platinum Card® features top-notch travel rewards. You’ll earn …
- 5 points per $1 on flights booked directly through airlines or the American Express travel portal (on up to $500,000 spent per calendar year, then 1 point per $1)
- 5 points per $1 on prepaid hotels booked with American Express Travel®
- 1 point per $1 on all other eligible purchases
Enjoy world-class lounges
The American Express Platinum Card® comes with complimentary access to lounges around the world through the Global Lounge Collection.
The Global Lounge Collection is a consortium of airport lounges that includes The Centurion Lounge, Priority Pass™ Select (enrollment required), Lufthansa, Air Space Lounge, Escape Lounges and others.
If you like to relax in luxury while traveling, this benefit stands out.
More travel credits than you probably need
The American Express Platinum Card® offers so many travel credits you might have a hard time using them all. Here are a few we recommend.
- Airline fee statement credit: You’ll get up to $200 each year in statement credits to pay for items like checked bags and in-flight food and drinks. Keep in mind that you will need to select just one airline and activate this benefit, and enrollment is required.
- Airport security fee credits: You’ll get reimbursed for airline security programs when you apply using the American Express Platinum Card®. Use your card to pay for annual CLEAR® Plus membership ($209, enrollment required), Global Entry ($120 statement credit every four years), or TSA PreCheck (up to $85 every four and a half years). These perks can speed up your travel.
- Hotel credit: Receive a credit of up to $600 each year on qualifying prepaid reservations of two nights or more at Fine Hotels + Resorts® and The Hotel Collection.
Lifestyle credits make it more than just another travel card
The American Express Platinum Card® is a luxury travel card, but it also offers some lifestyle perks.
- Uber credit: Get up to $200 each year on rides or food delivery orders when you pay with your card. That breaks down to $15 each month in credits — and $20 in credits for December.
- Digital entertainment credit: You’ll get up to $300 each year to spend on Disney+, ESPN+, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium and YouTube TV. Keep in mind you’ll need to enroll to activate this benefit.
- Walmart+ monthly membership: You’ll receive a statement credit of up to $12.95 per month for membership to Walmart+ when you enroll and pay with your card. That can help you access free shipping on eligible purchases.
- Saks shopping credit: Get up to $100 each year — $50 semi-annually — in statement credits for purchases made at Saks Fifth Avenue when you enroll.
What are the drawbacks of American Express Platinum Card®?
Expensive annual fee
The American Express Platinum Card® charges an exceptionally high $895 annual fee that could drive away would-be cardholders.
Calculate how many credits you’ll use in a typical year and how much you plan to spend on eligible travel purchases to determine if the annual cost makes sense for you. Certain perks — like lounge access — could make the annual fee worthwhile depending on your preferences and budget.
Statement credits come with strings attached
The American Express Platinum Card® offers plenty of statement credits, but most of them come with limitations — making it more difficult to get the most out of these travel and lifestyle credits without active management.
For example …
- You can’t use the $200 airline fee credit to purchase a ticket.
- The hotel credit can only be used at two preapproved hotel collections, which you might not typically visit.
- The Uber and Saks credits are issued on a semi-regular basis with eligible spend limited to specific timeframes. So if you don’t spend at these places regularly, you might end up making purchases you don’t need to justify using the credit.
How to redeem American Express Membership Rewards® points
You can redeem your American Express Membership Rewards® points for travel, statement credits, shopping, gift cards and charitable donations. But these aren’t your only options.
American Express operates what’s known as a “flexible rewards program,” which means you can transfer your points to airline and hotel partners (enrollment in participating frequent flyer program may be required). In some cases, you might get more value for your points if you do this.
We calculated your points are worth 1 cent each when redeemed through American Express Membership Rewards. But you might get a better value if you redeem through an American Express transfer partner.
Depending on how you redeem, we estimate your points to be worth 1.14 cents each, based on Credit Karma’s standard point valuations.
Other cards to consider
- Bank of America® Premium Rewards® credit card: This premium travel card has a lot of perks and travel credits that are easier to use.
- American Express® Gold Card: This luxury travel card is a great if you spend a lot dining out or purchasing groceries.
- Capital One Venture X Rewards Credit Card: This card is another good choice for people who want lounge access and travel credits.
Credit Karma’s methodology
Credit Karma uses qualitative and quantitative measures to review travel and premium credit cards. Our goal is to help you understand a card’s most useful features — and where it may fall short compared to other options.
We take into account factors such as unique rewards and benefits, ease of redeeming rewards, fees and rates, transfer partners, lounge access and rewards rates.
Credit Karma editors have also built some proprietary metrics to measure the value of rewards credit cards.
Our point valuations estimate how much rewards programs are worth. We look at both the value you could get by redeeming your points directly through a credit card issuer, as well as the value you could get by transferring your points and miles to an airline or hotel rewards program.
Instead of just telling you how many miles you could earn, the editors’ estimated bonus value multiplies the sign-up bonus by the reward program’s point valuations to tell you how much we believe they’re worth.
Our goal is that these metrics will help you decide whether the card’s rewards and benefits are worth it for you.
FAQs about the American Express Platinum Card®
We’ve found that Credit Karma members with the American Express Platinum Card® or similar cards usually have good or excellent credit. But keep in mind that is just one factor American Express may consider when you apply.
We’ve found the majority of Credit Karma members who have this card or similar cards have credit limits above $10,000, but a significant percentage have credit limits less than that as well. Keep in mind that the American Express Platinum Card® doesn’t have a traditional credit limit and was compared to similar premium cards.
If you spend a lot on travel and can take advantage of the extensive travel and lifestyle credits, the American Express Platinum Card® could be a great fit for you. But if your spending habits don’t line up with these categories, you might want to consider other premium travel cards that better suit your needs.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the card shown, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.