American Express Platinum Card Benefits That Justify the $695 Fee
Amex Platinum perks, travel credits and Global Lounge access that make the $695 annual fee worth it for frequent flyers and upscale travelers
Top travel rewards that pay off
The American Express Platinum Card delivers standout earning rates for people who book premium travel. You get 5X Membership Rewards points on flights booked directly with airlines or through Amex Travel and on prepaid hotels booked via Amex Travel, which compounds quickly for frequent flyers.
Those points are flexible and transfer to major airline and hotel partners, making the American Express Platinum Card a powerful tool for booking business or first-class seats. For cardholders who value upgrade space and front-of-line perks, the returns on everyday travel spend are significant.
Credits and statement benefits that offset the $695 fee
At first glance the $695 annual fee can feel steep, but the Amex Platinum includes a suite of credits that reduce net cost when used strategically. Popular credits include up to $200 in airline fee credit, up to $200 in Uber credits annually, $240 in digital entertainment credits, and select retailer credits like Saks Fifth Avenue.
Using these monthly and annual credits for routine expenses turns the fee into a savings engine for many. If you travel several times a year and take advantage of hotel and airline perks, those credits plus point value often justify keeping the card.
Airport lounges, elite status, and smoother travel
Lounge access is a headline feature: Centurion Lounges, Priority Pass Select, Delta Sky Club access when flying Delta, and additional partner lounges make airport days less stressful. For frequent travelers, the Global Lounge Collection tied to the American Express Platinum Card can change connections from chaotic to calm.
The card also grants automatic elite status with programs like Hilton Honors Gold and Marriott Bonvoy Gold, which boosts room upgrades and late checkout odds. Between lounge time, hotel perks, and a 24/7 concierge, the Platinum Card elevates travel in ways that cash-back cards simply can’t match.
Maximizing value and deciding if it’s right for you
To squeeze maximum value from the American Express Platinum Card, funnel air and hotel bookings through Amex Travel, use all monthly credits, and transfer Membership Rewards points to partners when award availability appears. Keep a simple tracking habit so no credit goes unused.
If you don’t travel often or can’t use the bundled credits and lounge access, the $695 fee may outweigh benefits. But for frequent flyers, business travelers, and those who prefer premium service, the Amex Platinum frequently pays for itself and delivers lifestyle upgrades that are hard to replicate with other cards.