How the Amex Platinum has been worth thousands of dollars for me this year – and made my trips better

A lot of people are surprised when I tell them my favorite card is The Platinum Card® from American Express. I love it because it offers incredible statement credits and comes with so many benefits.

While the $695 annual fee (see rates and fees) isn’t cheap, savvy consumers can easily get more than that in value.

I travel for work and pleasure. As a managing editor at The Points Guy, I’m on the road just about every other week. I am always looking for new ways to enhance my travel.

While I have more than two dozen cards, the Platinum Card is my go-to. I first got it 20 years ago, but the card has actually been around for 40 years now, and the benefits have only gotten stronger over those four decades.

Read more: Amex Platinum Card review

American Express Platinum basics 

While the Platinum Card remains one of the most desirable cards on the market for new applicants, I’ve moved on from the thrill of flashing the shiny metal card to appreciating the incredible array of benefits that easily justify the annual fee each and every year.

Here are some of my favorite perks on the card (terms apply for the benefits discussed below):

• The current welcome offer of 80,000 Membership Rewards® points after you spend $8,000 on purchases on your new card in your first six months of card membership — though be sure to check the CardMatch tool to see if you’re targeted for an even higher offer, which is subject to change at any time.
• Complimentary hotel elite status at select hotel brands, such as Hilton Honors™ Gold status (enrollment required).
• Select one qualifying airline and then receive up to $200 in statement credits that calendar year when incidental fees are charged by that airline to your Platinum Account.
• Up to $200 in statement credits each year for prepaid American Express Fine Hotels + Resorts® (FHR) or The Hotel Collection bookings through American Express Travel™ when you pay with the Platinum Card (minimum two-night stay required for The Hotel Collection).
• Up to $200 in Uber Cash annually ($15 per month plus a $20 bonus in December) valid for rides with Uber and orders with Uber Eats in the U.S. when the Platinum Card is added to your Uber account.
• Up to $240 in Digital Entertainment Credit — up to $20 in statement credits each month — after you pay for eligible purchases with the Platinum Card at participating partners (enrollment required).
• Access to targeted Amex Offers.

And don’t forget access to the wonderful world of Membership Rewards points.

But there’s more to the card than just points, offers and statement credits. Amex actually makes my travel better with lounge access at the airport, statement credits that offset the cost of access to some priority screening programs (such as Clear Plus® and PreCheck) and even what feels like VIP treatment while at hundreds of hotels via some of the FHR benefits.

Read more: Is the Amex Platinum worth the annual fee?

Total value from my Amex Platinum this year

I estimate that in 2024, I’ve gotten more than $1,700 in value from my Platinum Card — and that’s without getting a big welcome offer this year. Just going by statement credits alone, I’ve gotten over $950 in value … with even more coming in when you factor in the value from some lounge visits and more.

Here’s how this breaks down:

• I booked two nights at the W Taipei, a Fine Hotels + Resorts property, through Amex Travel. Since I used my Platinum Card to prepay for my Fine Hotels + Resorts stay, I received a $200 statement credit because of my annual $200 Hotel Credit. With my Fine Hotels + Resorts benefits, I was upgraded to a suite (when I arrived), enjoyed complimentary breakfast every morning during my stay and received a $100 credit to use towards eligible charges during my stay.
• For my Airline Fee Credit, I selected Delta Air Lines as my airline of choice, and have received $50 in credit for my incidental fees. That leaves another $150 in credit to get back this year on eligible incidental fees with Delta.
• In June, I used $50 from my statement credit at Saks Fifth Avenue (where I can receive $50 back from January to June and $50 back from July to December; enrollment required) to stock up on some items I needed for the summer. I’ll use the second half of the year’s $50 credit in the coming months.
• I’ve also scored some great statement credits by activating and earning targeted Amex Offers in my account. In total, I’ve gotten $1,607.50 in credits by regularly using my Amex Platinum Card over the years. This year alone, I’ve received statement credits of $100 for an Alaska Airlines flight, $50 at Theory, $40 for a Delta flight and $25 for a Max subscription … to name a few. (Amex Offers are personalized and vary by cardmember; enrollment required.)
• I’ve maximized my Uber benefit this year as well. I’ve already used eight of the 12 monthly Uber Cash deposits for rides in the U.S. — and should have no problem doing so in the remainder of the year.
• I also subscribe to The New York Times and Hulu, both of which are eligible providers for the Platinum Card’s digital entertainment credit. When I pay for these subscriptions with my Platinum Card, I can receive up to $20 in statement credits each month.
• I’ve been using the benefits that come with a monthly Walmart+ membership (subject to automatic renewal), like free delivery ($35 order min, restrictions apply) and video streaming with Paramount+ (Paramount+ Essential plan only, separate registration required). With my card, I receive one statement credit for up to $12.95 (plus applicable taxes; Plus Ups not eligible) each month. That will add up to another $103.60 in credit so far this year.

Then there are the American Express Membership Rewards points I’m earning when I use the card. At last count, I’ve already banked 98,213 points this year.

You can use Membership Rewards points in a variety of ways, such as to book travel, get retail gift cards, shop at amazon.com, get statement credits and more. However, I tend to use points by transferring them to participating partners. That way, I get a value from my points that’s much more in line with TPG’s October 2024 valuation of about 2 cents per point based on my own travel patterns.

For example, I made a fantastic redemption this year when I transferred 50,000 Membership Rewards points to Virgin Atlantic Flying Club and booked a one-way, business-class flight from Munich Airport (MUC) to New York’s John F. Kennedy International Airport (JFK) using just 50,000 Virgin points. That ticket would typically cost a few thousand dollars if paid with cash, which shows just how impactful these points are in my travels.

American Express has 17 airline and three hotel partners, opening up a variety of sweet spots to book travel.

I’m also racking up a ton of points when booking paid airfare by putting most of my airline spending on my Platinum Card. Tickets booked directly through Amex Travel (or directly through an airline) earn a whopping 5 Membership Rewards points for each eligible dollar you spend (on up to $500,000 on these purchases each calendar year, then 1 point per dollar). This year, I’ve earned an incredible 38,745 points on airfare purchases alone.

Read more: Best ways to use Amex Membership Rewards points

How it made my travel even better

The Platinum Card also helps me travel better and more comfortably. I’d conservatively estimate that I enjoyed at least $569 in value with the following perks:

• The Platinum Card gives me access to some of the top airport lounges in the world. This includes Centurion Lounges (like the fabulous new ones in Atlanta and Washington, D.C.) as well as Priority Pass Select (enrollment required), Delta Sky Clubs (when flying with Delta. Limited to 10 annual visits beginning February 1, 2025.), Plaza Premium Lounges, Escape Lounges and Lufthansa Lounges (when flying with Lufthansa). I have been to 19 lounges this year thanks to the benefits of the Platinum Card, allowing me to avoid buying expensive food and drinks in the airport terminal. Based on the cost of meals in an airport, each meal I would’ve had in the lounge would’ve likely cost me at least $20 worth of food during each visit, which comes to $380 so far this year — and the year’s not over. And that’s me being very conservative — a lounge visit is really worth way more than that in sanity!
• Earlier this year, I renewed my Clear® Plus membership (subject to automatic renewal), which uses unique facial attributes to digitally verify its members so that I can move faster through security at select airports nationwide. I charged the $189 (now $199) fee to my Platinum Card and received a statement credit.

Beyond that, I frequently use Global Dining Access by Resy, which helped me score hard-to-get reservations at restaurants like Pebble Bar, Dante NYC and The Polo Bar recently. These are all very hot restaurants in New York City right now.

Bottom line

Every year, my American Express Platinum Card provides an incredible amount of value. I conservatively estimate that I get several thousand dollars in annual value thanks to the card’s array of credits, points and targeted offers — and that’s even without receiving the welcome offer available for eligible new card members.

But the Platinum Card is so much more than that. With travel benefits like airport lounge access, credits for services that help me get through airport security in the U.S. and access to exclusive reservations through Global Dining Access by Resy, my time on the road is much more productive with the Platinum Card … and more fun as well.

Apply here: The Platinum Card from American Express

For rates and fees of The Platinum Card from American Express, click here.