American Express Platinum Review: Is the $895 Annual Fee Worth It?
The American Express Platinum Card has long been one of the most talked-about premium travel credit cards. Airport lounges, luxury hotel perks, and a “coupon book” of statement credits make it sound irresistible.
But with a $895 annual fee, the question is simple: Is it actually worth it?
In this American Express Platinum review, I’ll break down:
- The sign-up bonus and my personal strategy
- How the “coupon book” of credits works in practice
- Why I don’t use flight/hotel booking multipliers
- Lounge access realities, including Centurion and Delta
- Who this card is good for — and who should probably skip it
Quick Overview: American Express Platinum Card
- Annual fee: $895
- Rewards program: American Express Membership Rewards
- Best for: Frequent travelers who will actively use most credits
- Not ideal for: People who prioritize high everyday spend rewards
This is not a set-it-and-forget-it card — you need to be intentional to get value.
The Sign-Up Bonus: The Main Reason I Opened the Card
I’ll be upfront: I opened the Amex Platinum solely for the sign-up bonus.
Welcome offers often range from 100,000–175,000 Membership Rewards points after meeting the minimum spend. I was one of the fortunate ones who had the 175,000 point offer. That bonus alone can be worth thousands of dollars in travel if you know how to use transferable points.
My Strategy
- Open the card
- Earn the sign-up bonus
- Enjoy perks for a year
- Reevaluate when the next annual fee posts
If I decide it’s not worth keeping, I can cancel within 30 days of the annual fee posting and get reimbursed. You also can always try to ask if there are any retention offers on your account. They can say no, but why not try?
Earning Points: Not Why You Get This Card
The Platinum’s earning structure on regular spend is incredibly limited:
- 5x points on flights booked directly with airlines or through Amex Travel
- 5x points on prepaid hotels booked through Amex Travel
- 1x point on everything else
I have other cards that are far more effective at earning points on groceries, dining, and general travel, so the Platinum rarely comes out of my wallet except for specific perks or benefits.
Why I Don’t Use Amex Travel for Flights or Hotels
Flights: United Loyalty Comes First
We typically fly United and already carry a United Club card. Between lounge access and other perks, booking directly with United makes more sense for us than trying to earn 5x points through Amex Travel.
Hotels: Booking Direct Gives Peace of Mind
We also book hotels directly with the provider. Most Amex Travel hotel bookings go through Fine Hotels + Resorts or The Hotel Collection, which are third-party reservations. If something goes wrong, dealing with Amex can be more complicated than resolving the issue directly with the hotel.
Since we typically stay at Marriott properties because we like the benefits that come with our Platinum status, we book with our Marriott Bonvoy Boundless card to earn points, elite night credits, and other benefits. The extra Membership Rewards from Amex Travel just doesn’t outweigh that given that our status plus the card earns us more Marriott points than Membership Rewards points.
The Platinum “Coupon Book”: All Statement Credits Explained
The Amex Platinum is often called a “coupon book” because so much of its value comes from statement credits. On paper, these credits can offset the $895 annual fee, but only if they align with your spending habits.
Lifestyle & Shopping Credits
- Lululemon Credit — $75 per quarter ($300/year)
I’ve used this one — it’s easy and automatic. If you’re shopping online, you can earn points or miles from a shopping portal by shopping at Lululemon for even more points.
- Saks Fifth Avenue Credit — $50 every six months ($100/year)
This was part of the card when I first opened it. Saks items come with a cost, so you’re looking at limited options if you’re trying to stay as close to $50 as possible. In March 2026, AmEx confirmed the Saks credit would no longer be part of the card benefits.
- Walmart+ Membership Credit — up to ~$155/year
Covers the annual subscription cost. We haven’t used this, but if you do, more power to you. - Equinox Credit — up to $300/year
Can be applied to gym or digital memberships. Another one we don’t use – Equinox is a pricey gym so $300 doesn’t make a dent. But if you’re already going to Equinox, get your credits! - Digital Entertainment Credit — up to $25/month ($300/year)
Works for Hulu, Disney+, Paramount+, Peacock, NYT, and more. Caution: Not all online streaming services are automatically eligible. I learned the hard way that one of my streaming services didn’t trigger the credit, so I only earned 1x points and didn’t get reimbursed. Always double-check eligible services.- Once I learned this lesson the hard way, I realized Peacock was the only subscription covered that I pay for. It costs me $11.99 a month, so I thought I’d try to purchase a Peacock gift card for $25 a month and load my account so I had months covered (potentially after I cancelled my Platinum card). A Peacock gift card codes as “Comdata Inc – Buyatab” on the AmEx Platinum and does not trigger the digital streaming credit. Good to know I’ll get my monthly amount covered while I have the card, but disappointing to learn I can’t pre-load.
- Now, we use this card to cover a portion of our monthly YouTubeTV cost.
- Oura Credit — $200/year
Applies to Oura subscriptions or purchases. If you’re an Oura Ring user, this is an easy $200 back. I am not, so I have not used this credit. - Resy Credit — $100/quarterly
In theory, this is a strong perk and $400 a year towards dining, but it’s not as flexible as it sounds. Not every restaurant participates, and some spots you’d expect either aren’t on Resy or don’t trigger the credit. If you already eat at Resy restaurants, this is an easy win. The restaurants we regularly go to and get takeout from aren’t on Resy, but we have been able to find places to use this credit.
Travel & Transportation Credits
Airline Fee Credit — $200/year
I load my United wallet with this credit for future flights. Other people may choose to use this credit for baggage fees or in-flight Wi-Fi, but United works perfectly as our preferred airline. This way, I can use the airline fee credit for future flights. Not every airline allows the wallet-loading option, so check if you will be reimbursed prior to loading the full $200 onto your account.
- Uber Cash — $15/month + $20 in December ($200/year)
Applies to rides or Uber Eats in the U.S. I’ve used this on dining every month. It can be combined with the monthly Uber credit on the Amex Gold card, which is nice. - CLEAR Plus Credit — up to $209/year
Covers full membership. I’ve had CLEAR previously and didn’t notice a difference from TSA Pre-check, so I opted not to renew my CLEAR membership and thus didn’t use this credit. - Global Entry / TSA PreCheck Credit
Statement credit every 4–4.5 years. - Hotel Credit — Fine Hotels + Resorts / Hotel Collection
Useful if you stay at luxury or boutique hotels, but we personally don’t use it due to Marriott loyalty.
*Note: as of mid-February 2026, people are reporting that they can no longer load their United travel bank and get reimbursed using this credit.
How Much You Can Actually Get Back
| Credit | Max Annual Value | Notes |
|---|---|---|
| Airline Fee Credit | $200 | Load United wallet or cover baggage/Wi-Fi |
| Lululemon Credit | $300 | $75 per quarter |
| Uber Cash | $200 | $15/month + $20 in December |
| Digital Entertainment Credit | $300 | Up to $25/month; eligibility may vary |
| Walmart+ Credit | ~$155 | Covers subscription |
| Equinox Credit | $300 | Gym/digital membership |
| CLEAR Plus Credit | $209 | Full membership |
| Global Entry/TSA PreCheck | $100 | Annualized value |
| Hotel Credit | $600 | Semi-annual $300 credits; we don’t use |
| Oura | $200 | Annually |
| Resy | $400 | $100 Quarterly |
Total Potential Credit Value: ~$2,964
If you use all these credits, the $895 annual fee can be offset. But you need to actively use the credits; otherwise, the fee can feel steep.
Airport Lounge Access: What You Really Get
One of the most talked-about perks of the Amex Platinum Card is its airport lounge access, including:
- Amex Centurion Lounges
- Delta Sky Clubs (when flying Delta same-day)
- Priority Pass Select lounges
- Select partner lounges internationally
These sound fantastic — and they can be — but the value depends on your travel habits.
Amex Centurion Lounges
Centurion lounges offer great food, drinks, and amenities at many major airports. But:
- My home airport (ORD) doesn’t have a Centurion Lounge
- Complimentary guest access is only available after $75,000 spent per year on the Platinum Card
So if you travel with companions often or rarely depart from Centurion airports, this benefit will have limited value. One nice thing about this access is you aren’t limited by the airline you’re flying like other lounge benefits that come with co-branded cards.
It’s also frustrating you can’t use the Centurion Lounge after landing – you can only use it at your departure airport. Our United Club card allows us access at departure and arrival airports, which is a nice perk for a lesser annual fee.
Delta Sky Club Access
You get access to Delta Sky Clubs when flying on a same-day Delta flight, without needing Delta elite status. That’s a solid perk for Delta flyers, but:
- You cannot access without a Delta flight
- Guest access may require a fee or meeting spend requirements
It’s worth noting that basic economy bookings on Delta do not get club access. If that’s important to you, make sure you book the correct seating for Sky Club access.
Platinum members are limited to only 10 Delta Sky Club visits a year until they spend $75,000 on their American Express Platinum card. After spending $75,000, then visits to the Delta Sky Club are unlimited.
For some people, this may not be a dealbreaker; however, it’s “worse” than cards like the United Club which don’t limit the amount of visits you can have in a calendar year.
Since we fly typically United, this benefit doesn’t apply to us and we’ve never used it, but frequent Delta travelers may find it valuable.
Who the Amex Platinum Card Is Good For
The Platinum can make sense if you:
- Travel frequently and value airport lounges (and have a Centurion Lounge at your home airport or frequently fly Delta)
- Don’t mind tracking monthly or quarterly credits
- Spend on Uber, Lululemon, digital subscriptions, CLEAR, or Equinox
- Enjoy boutique or luxury hotels and will use the Fine Hotels + Resorts credit
- Are not loyal to a single hotel chain (or don’t mind booking outside your brand)
- Want a premium travel experience more than high everyday earning rates
- Are comfortable offsetting or paying the $895 annual fee
Who Should Probably Skip It
- Prefer straightforward everyday earning without tracking credits
- Are loyal to one airline or hotel brand and book directly
- Don’t travel often enough to benefit from lounges or perks
- Would struggle to justify the $895 annual fee
FAQ: American Express Platinum Card
Q: Can I cancel the Amex Platinum after the annual fee posts?
A: Yes — if you cancel within 30 days of the fee posting, American Express will reimburse the full $895 annual fee. This makes it an ideal one-year sign-up bonus play.
Q: Which statement credits are hardest to redeem?
A: The digital entertainment credit can be selective. Not all streaming services are automatically eligible, so double-check before relying on it. The hotel credit may also be hard to use if you’re loyal to a specific chain like Marriott.
Q: How does Centurion Lounge guest access work?
A: You can bring guests only after spending $75,000 per year on your Platinum card. If your airport doesn’t have a Centurion Lounge or you frequently travel with companions, this benefit may have limited value.
Q: Do I automatically get Delta Sky Club access?
A: You can access Delta Sky Clubs when flying a same-day Delta flight, but guest access may require a fee. It’s only valuable if you fly Delta frequently.
Q: Is the Amex Platinum worth the $895 annual fee?
A: It depends. If you actively use most credits (Uber, Lululemon, airline, entertainment, CLEAR, etc.) and value lounge access, the fee can be offset. For people like me — loyal to United and Marriott and focused on other rewards cards — it’s not worth keeping long term.
Final Verdict: A Great One-Year Card, Not a Keeper
For me personally:
- I don’t love the earning structure
- I don’t use the hotel credit
- I don’t book through Amex Travel
- The $895 annual fee isn’t worth it long term
That said, the card is perfect as a strategic one-year play:
- Grab the sign-up bonus and earn over 100,000 points
- Use the perks for a year
- Decide whether to keep it when the next annual fee posts
For the right traveler, the Amex Platinum can absolutely pay for itself, but it requires intention, organization, and a spending pattern that aligns with the credits.