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finder.com’s rating: 4.4 / 5
★★★★★
75,000
Points as welcome offer
Up to 10x
Points
$550
Annual fee
670
Recommended credit score
Annual fee | $550 |
---|---|
Welcome Offer | 75,000 points after spending $5,000 in your first 6 months, plus 10x points at US gas stations and US supermarkets on up to $15,000 in combined purchases in the same timeframe |
Rewards | 10x points at US gas stations and US supermarkets on up to $15,000 combined in the first 6 months, 5x points on directly-booked flights on up to $500,000 annually, then 1x points after that and on other purchases |
Purchase APR | See Pay Over Time APR |
Balance transfer APR | N/A |
Recommended minimum credit score | 670 |
Issuer | American Express |
Review by
Steven Dashiell is a credit cards writer at Finder. He's worked on 250 Finder articles and counting, helping readers embrace and maximize credit cards. Backed by nearly a decade of research and reporting experience, Steve's work can be seen on Debt.com, CreditCards.com and Lifehacker.
As with most cards, you’ll have a better chance of approval for The Platinum Card® from American Express if you apply with a good to an excellent credit score of 670 or higher. However, some cardholders have reported getting approved with scores in the mid-600s.
You can get prequalified for American Express cards through the provider’s prequalification page.
Here’s how to use the Amex prequalification tool:
After you submit your prequalification form, Amex will show you a list of cards. If you see The Platinum Card® from American Express in that list, it means you fit the credit profile of someone who might be approved for the card. Think of it as extra information to guide your application decision.
Note that prequalification doesn’t mean you’re guaranteed approval. You still must apply for the card, after which American Express will evaluate your credit report and finances to decide whether to bring you on as a cardmember.
The card isn’t well-suited for infrequent travelers. For the steep price of the card, you’ll need to use several of the perks throughout the year, which means you’ll need to be traveling at least a few times — preferably longer distances. If you don’t use the card’s travel features, you’re effectively paying nearly $600 for the earning rate you could find with a far cheaper card.
If you’re curious whether to go all in on a luxury offering, here’s a look at the Amex Platinum Card vs. two similar cards for a quick taste of the differences.
The Platinum Card® from American Express
★★★★★
Rates & feesGo to site |
---|
Minimum credit score 670 |
Annual fee $550 |
Purchase APR See Pay Over Time APR |
Balance transfer APR See Pay Over Time APR |
Rewards 10x points at US gas stations and US supermarkets on up to $15,000 combined in the first 6 months, 5x points on directly-booked flights on up to $500,000 annually, then 1x points after that and on other purchases |
Welcome offer 75,000 points after spending $5,000 in your first 6 months, plus 10x points at US gas stations and US supermarkets on up to $15,000 in combined purchases in the same timeframe |
American Express® Gold Card
★★★★★
Rates & feesGo to site |
---|
Minimum credit score 670 |
Annual fee $250 |
Purchase APR See Pay Over Time APR |
Balance transfer APR See Pay Over Time APR |
Rewards 4x at restaurants including delivery and Uber Eats; 4x at US supermarkets on up to $25,000 annually (then 1x points) and 3x points on directly-booked flights |
Welcome offer 60,000 points after spending $4,000 in the first 6 months |
Chase Sapphire Preferred® Card
★★★★★
Rates & feesGo to site |
---|
Minimum credit score 670 |
Annual fee $95 |
Purchase APR 15.99% to 22.99% variable |
Balance transfer APR 15.99% to 22.99% variable |
Rewards 5x points on Lyft, 2x points on up to $1,000 on groceries until April 30, 2021, 2x points on travel and dining and 1x points on all other purchases |
Welcome offer 60,000 points after spending $4,000 in the first 3 months, a value of up to $750 through Chase Ultimate Rewards. Plus up to $50 statement credit towards groceries. |
Compare even more credit cards
Liza Schneider
Client Services
I also take advantage of the perks. I have used the concierge service on multiple occasions — Aziz Ansari tickets at Madison Square Garden, the U.S. Open, etc. Note that you don’t get any “deals” on the tickets — that I’ve experienced — however, it is nice to have someone at Amex track everything down for you and then automatically bill your card.
We also use the points at least once a year to cover airline tickets and hotels. And we use the Amex Travel portal for bookings. We recently went to Encore at Wynn Las Vegas entirely on Amex points. I also like the way it looks, so there’s that.
Amex doesn’t allow cosigners for any of its cards, including The Platinum Card® from American Express. However, you can add an authorized user to your Amex account. Check out our Amex authorized user guide for details and how to add.
There’s fierce competition in the luxury-travel-card market, so let’s see how The Platinum Card® from American Express stacks up versus its top rivals.
You’d be surprised by how expensive the rarest credit cards can be. But let’s focus on the mass market for now — that is, cards that are widely available without the need for invites. Here’s The Platinum Card® from American Express’s annual cost compared to other premium options.
U.S. Bank Altitude Reserve Visa Infinite® Card | Citi Prestige® Credit Card | Chase Sapphire Reserve® | The Platinum Card® from American Express | Luxury Card Mastercard® Gold Card™ |
---|---|---|---|---|
$400 | $495 | $550 | $550 | $995 |
Issuers often advertise substantial welcome offers to attract prime customers. Here, we calculate the effective value of premium-card welcome offers.
Luxury Card Mastercard® Gold Card™ | U.S. Bank Altitude Reserve Visa Infinite® Card | Citi Prestige® Credit Card | Chase Sapphire Reserve® | The Platinum Card® from American Express |
---|---|---|---|---|
$0 | $750 | $1,000 | $1,000 | $2,250 |
Here are a few more perks you might want to compare between luxury travel cards. As you’ll see, The Platinum Card® from American Express holds up very well in several categories.
U.S. Bank Altitude Reserve Visa Infinite® Card | Citi Prestige® Credit Card | Chase Sapphire Reserve® | The Platinum Card® from American Express | Luxury Card Mastercard® Gold Card™ | |
---|---|---|---|---|---|
Bonus reward categories |
|
|
|
| No bonus rewards |
Annual travel credits | $325 for travel purchases | $250 for travel purchases | $300 for travel purchases |
| $200 air travel credit |
Airport lounge access | Priority Pass Select | Priority Pass Select | Priority Pass Select | Highlights include:
| Priority Pass Select |
Global Entry/TSA PreCheck application fee credit | ![]() | ![]() | ![]() | ![]() | ![]() |
Hotel elite status | None | None | None |
| None |
Special hotel privileges through… | Relais & Châteaux | ThankYou Rewards portal (4th-night-free benefit) | The Luxury Hotel & Resort Collection |
| Luxury Card Travel |
Concierge | ![]() | ![]() | ![]() | ![]() | ![]() |
Those who have the card often say you should get it mainly if you’re a frequent traveler who likes luxury perks. Many cardholders are impressed by the lounge experience afforded by the Amex Platinum Card. Some visit multiple lounges, such as The Centurion Lounge and Delta Sky Club. Other customers mention the points structure is specifically tailored to those who are often on the go.
Some customers rightfully point out that the card isn’t a good choice for everyday spending, questioning whether the high annual fee is worth the value gleaned from occasional travel. Other customers say the Amex Platinum Card is less accepted worldwide than Visas and Mastercards, and that the airline credits can be relatively difficult to use completely.
On February 2020, this reddit user described their own experience with the card: “This is the type of card that you acquire for its benefits but in general don’t spend that much money on. When I had the card, for example, the only category bonus that was any good was the 5% for airlines. Other than that you’d have been better off getting a (much cheaper) rewards credit card with better bonuses in the categories you tend to spend the most on.”
The beauty of the luxury-card space is the variety of interesting perks offered by the biggest contenders. You can have lots of fun considering which card fits your travel style the best and which perks you can’t live without. Furthermore, each card has pros and cons that create lively discussions among travel enthusiasts.
There’s lots of room to get more out of your Amex Platinum Card, including:
If you’re not sure The Platinum Card® from American Express is right for you, there are many other travel options to consider.
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
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We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.