American Express Platinum Card benefits – Is Amex Platinum worth it?

Is the Amex Platinum Worth It? A Deep Dive into Its Benefits and Real-World Value

The American Express Platinum Card has earned a reputation as one of the most prestigious and expensive credit cards on the market. Its $695 annual fee is a steep price to pay, but the perks and benefits can offset that cost for frequent travelers and savvy cardholders who know how to leverage them. In this article, we’ll explore the real-world value of the Amex Platinum Card based on feedback from actual users. We’ll look into the benefits, how they add up, and whether or not they justify the hefty fee.

1. Hotel and Travel Credits

Saks Fifth Avenue Credit ($200/year) The Amex Platinum offers $200 in Saks Fifth Avenue credits, split into two $100 credits per year. Many users find value here by purchasing items they’d already consider buying, like discounted homeware, clothing, and accessories. One user mentioned they could buy a shirt valued at $70 for just $20, maximizing the benefit. If you’re into shopping at Saks, this credit becomes an effective $200 savings.

Fine Hotels & Resorts (FHR) Credit ($200/year) The FHR credit is another travel-focused benefit that offers users up to $200 in credit for hotel stays at participating luxury properties. The credit, though valuable, can feel like a gimmick if you’re staying at hotels that don’t fit within the program’s pricing structure. For example, one user shared that while FHR is more valuable in regions like Southeast Asia (where luxury hotels can cost $250 or less), it’s less useful in the U.S., where the hotel rates can easily surpass $500 or $600 per night.

Booking FHR Stays: A Strategy One user shared that they make the most of the FHR benefits by comparing prices from other sources, like Expedia and Virtuoso travel agents. They suggested that you should always shop around, especially for offers like 4pm late checkout, which comes in handy for late flights.

$200 Airline Credit The $200 airline credit is a straightforward and useful benefit. It can be spent on incidental airline fees such as seat upgrades, luggage fees, or in-flight meals. Many users report using this credit every year, which helps mitigate the high annual fee.

2. Airline Lounge Access

Centurion Lounge, Priority Pass, and More The Platinum card offers access to a variety of airport lounges, including Centurion Lounges, Priority Pass lounges, and others affiliated with airlines like Delta and Lufthansa. While some users complain about crowded lounges (particularly in busy airports like Dallas/Fort Worth), many find it a significant perk for reducing travel stress. One reviewer mentioned they’ve never had to wait more than 5-10 minutes for access, even during peak hours.

Priority Pass and Centurion Lounges: Mixed Reviews The quality of lounges varies depending on location. Some users feel that the lounges outside the U.S. are better, but others appreciate the comfort and convenience these lounges provide, especially on long layovers. However, one user pointed out that, at certain times, the Centurion Lounge could feel more like a crowded waiting room than a luxury escape.

3. Uber and Entertainment Credits

$20 Monthly Uber Credit This monthly credit ($240 per year) can be used for both Uber rides and Uber Eats, making it a highly practical perk. Many users mention that this benefit covers at least one Uber ride or a portion of a meal delivery. If you’re someone who regularly uses Uber, this credit provides tangible savings.

Digital Entertainment Credit ($240/year) Another popular credit is the $240 annual entertainment credit, which can be used for services like Hulu, Disney+, and the New York Times. For a user already subscribed to these services, this is essentially free money. The digital entertainment credit becomes a useful savings tool, especially for those who are already paying for streaming services.

4. TSA PreCheck/Global Entry and CLEAR Credit

TSA PreCheck/Global Entry The TSA PreCheck/Global Entry credit is valuable for frequent flyers. While Global Entry is beneficial for faster entry into the U.S., it’s not something you’d need to renew every year, which makes it feel less like a recurring benefit and more like a one-off bonus.

CLEAR Credit The CLEAR credit, which covers the cost of the CLEAR membership for faster airport security screening, has mixed reviews. Some users consider it a “joke” but recognize its utility on occasions when the standard security lines are long. However, if the value doesn’t align with your travel needs, you might not find this benefit particularly worthwhile.

5. Hotel and Car Rental Status

Hilton Honors Gold & Marriott Gold Status One of the more practical benefits is the free Gold status with both Hilton and Marriott. This provides perks like room upgrades, late checkout, and free breakfast, which can add up to significant savings—especially if you’re traveling abroad where hotel breakfast prices can be steep. One user mentioned that free breakfast at Hilton hotels is a huge money-saver, particularly in regions where breakfast can cost $30-$40 per person.

Car Rental Benefits Platinum cardholders also enjoy elite status with rental car companies such as Hertz, National, and Avis. This often translates to upgrades and better service at no additional charge. While this benefit isn’t a major selling point for everyone, it can add convenience during road trips or business travel.

6. Real-World Value Breakdown

Based on feedback from users, the overall value of the Amex Platinum Card can be calculated as follows:

• Saks Fifth Avenue Credit: $200
• FHR Credit: $200
• Airline Credit: $200
• Uber Credit: $240
• Clear Credit: $149
• Lounge Access: $360
• Entertainment Credit: $240
• Other Miscellaneous Credits: $75 (Hilton Gold, Resy, Walmart+)

Many users reported netting around $700 to $800 annually in value from these benefits. However, this depends entirely on how frequently you travel and how well you can take advantage of these credits.

7. Is the Amex Platinum Worth It?

Whether or not the Amex Platinum is worth the annual fee boils down to how much you travel and how often you use its benefits. If you travel frequently, especially for business or leisure, and can make use of most of the credits (like the $200 airline credit, Uber credit, and lounge access), the card can easily pay for itself.

However, if you don’t travel often or don’t value the specific perks, the card’s value proposition diminishes. Some users even found that their Platinum card was more of a “convenience card” rather than a way to rack up rewards. For those who travel infrequently, the high annual fee might outweigh the benefits.

In conclusion, the Amex Platinum Card is likely worth it if you can maximize its credits and benefits, particularly for those who frequently fly, stay in hotels, and use services like Uber or streaming platforms. For others, a lower-tier card like the Gold Card or a different travel rewards card might be a more sensible option. The key is understanding your spending habits and travel patterns to determine if the Platinum card’s perks align with your lifestyle.

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