Is the Platinum Card From American Express Worth Its Annual Fee?

One of the most expensive travel cards, The Platinum Card® from American Express, bumped its annual fee to $895 (see ), adding credits for popular services and keeping earning rates the same. And those new benefits might make it worth the cost — especially if they match your everyday spending.

Here's how you can think through the math.

Easy-to-use benefits

Frequent travelers will probably be able to max these credits out without much effort.

Up to $200 Uber credit

When you use The Platinum Card® from American Express to pay for Uber rides or food delivery within the U.S., you'll get a monthly credit in the form of Uber Cash. You'll get $15 per month, plus a bonus $20 in December, for a total of $200 per year. The credits don't roll over month to month, so consistent usage is key. Enrollment required. Terms apply.

$200 airline fee credit

Select one airline from a list at the beginning of the year (or upon getting the card) and get $200 back in the form of statement credits for eligible purchases with that airline. This works for baggage fees, seat selection fees, in-flight food and beverages, airline lounge guest passes, fare differences when changing a flight — not tickets or upgrades. Enrollment required. Terms apply.*

$209 CLEAR+ credit

CLEAR+ is an expedited security service offered at many airports and stadiums. Its annual membership fee is $209, but card members can get a statement credit to cover the cost using their card to pay for an annual membership. Terms apply.

» Learn more: Is Clear worth the cost?

Up to $120 Global Entry or TSA PreCheck credit

The Platinum Card® from American Express includes a fee credit for Global Entry or TSA PreCheck membership. You are eligible to receive either one $120 statement credit every four years for the application fee for Global Entry or one $85 statement credit every 4.5 years for TSA PreCheck. At most, you're getting a $30-per-year average benefit from this if you don't have those services already or are up for renewal soon. Terms apply.

$400 Resy dining credit (new)

This new dining credit applies to a wide range of restaurants. It's $100 quarterly credits at 10,000+ U.S. restaurants on Resy, an online restaurant reservation platform. Unlike competitor cards with more limited restaurant partnerships, Resy includes everything from Michelin-starred establishments to neighborhood gems. This credit might apply to places you already want to eat. Enrollment required. Terms apply.

$600 hotel credit (increased from $200)

AmEx's hotel credit applies to prepaid bookings at Fine Hotels + Resorts or The Hotel Collection properties, which are a collection of more than 3,100+ luxury hotels offered through AmEx Travel. The credit is now issued as $300 semi-annually, which means cardholders will have to pay slightly less out-of-pocket for these pricey bookings — but now they'll have to make two separate bookings per year to get the full value. Previously, the credit was only $200 annually. There's still a two-night minimum for Hotel Collection properties. Terms apply.

$300 digital entertainment credit (increased from $240)

The card now also offers $25 monthly credits for eligible streaming services and other subscriptions, up from $20. As of Sept. 18, 2025, this credit applies to eligible expenses like Paramount+, YouTube Premium and YouTube TV, in addition to existing offerings including Disney+, Hulu, ESPN+, Peacock, New York Times and Wall Street Journal. Enrollment required. Terms apply.

Global Lounge Collection access

This remains the card's crown jewel. Access includes:

• The Centurion Lounge (the gold standard for domestic airport lounges).

• Delta Sky Club. Cardholders receive 10 visits per program year. Members can earn unlimited access after spending $75,000 in a program year.

• Escape Lounges and other partner lounges.

• Priority Pass lounges, which comprise more than 1,700 locations worldwide. Enrollment required.

On its own, the Priority Pass membership costs more than $400 for unlimited visits. That doesn't even include the additional value you can get from the access to the card's other lounge network partners. Terms apply.

Hotel elite status (new Leaders Club status)

Cardholders get complimentary Hilton Honors™ Gold Status, Marriott Bonvoy Gold Elite Status and Leaders Club Sterling Status with Leading Hotels of the World. Enrollment required. This can provide value through room upgrades (though it might just be a room on a higher floor or with a slightly better view), possible food and beverage credits or free water bottles, and the fifth night free on award stays with Hilton.

The Leading Hotels of the World is a chain of more than 400 luxury properties around the world, so this one might get less use. With Sterling elite status in this program, you'll receive benefits such as daily continental breakfast for two, as well as early check-in and late check-out when available. It's good if you are staying at those hotels anyway, but the value of the status isn't worth going out of your way for.

More specialized credits

$100 Saks credit

You'll get $100 in statement credits per year, doled out in two $50 increments, for shopping at Saks Fifth Avenue. One credit is eligible for spend between January and June, and the second can be spent July through December. Enrollment required. Terms apply.

$300 Lululemon Credit (new)

This credit is doled out in $75 quarterly statement credits at Lululemon stores or online. Whether you're already a devotee of their cult-favorite leggings or discovering premium athletic wear for the first time, this credit can genuinely improve your workout wardrobe. Enrollment required. Terms apply.

$200 Oura Ring Credit (new)

This is an annual credit toward purchasing an Oura Ring health tracker (which retails for more than $300). While this appeals to a specific wellness-focused audience, it offers substantial value if you're in that demographic. Enrollment required. Terms apply.

$120 Uber One Credit (new)

This is an annual credit for Uber One membership, providing ride credits and Uber Eats discounts. Even if you don't ride-share frequently, having the membership removes friction when you do need it. And hey, considering you have that monthly Uber credit, you might. Terms apply.

$300 Equinox credit

Equinox is a high-end gym. However, the majority of Equinox gyms are located in Southern California, San Francisco, New York and other large cities including Miami and Dallas. Membership prices vary by location but can easily be more than $200 per month.

It's a swell deal if you were planning to join anyway, but you'll still need to front hundreds of dollars yourself — which could very well still be much more money than another gym in your city. Terms apply.

Other perks without a hard value

Not all of the perks that come with the card have an easy-to-assign value, but you may still find them very useful based on your personal needs.

AmEx Offers: You can add statement credits and discount offers to your card through this program, which regularly rotates deals. Retailers rotate as frequently as the deals themselves, but have included places like Home Depot, Best Buy and Instacart. Enrollment required.

Cell phone protection: AmEx offers solid cell phone protection if you charge your wireless bill to the card. This can run you around $10-$20 per month with other providers.

Travel insurance and purchase protections: You'll also have access to fairly extensive travel insurance and purchase protections when you buy with your card. These can be valuable in case of emergencies, trip issues, theft or damaged products.

Welcome offer and AmEx points: The AmEx points you earn through the welcome offer and spending on the card also have a monetary value, but it depends how you redeem them. NerdWallet values AmEx points at 1.6 cents each if you transfer the points to the best travel partners for high-value redemptions.

The current welcome offer is: You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.

Terms apply.

» Learn more: How to find the best travel insurance

Checking the math

The marketing materials from American Express tout $3,500 in annual value of the card, but don't fool yourself. Do you really want an Oura ring? Would you pay out of pocket for an Equinox membership anyway?

If you're only counting benefits that are relatively easy to use for frequent travelers, here's what you might include:

• Uber credit: Up to $200.

• Airline fee credit: Up to $200.

• CLEAR+ credit: $209.

• Resy dining credit: Up to $400.

• Digital entertainment credit: Up to $300.

• TSA PreCheck/Global Entry credit (average yearly value): Up to $30.

• Terms apply. Enrollment required.

Total easy-to-use value: $1,339.

Of course, what's "easy to use" depends on your current spending. These credits won't be relevant for everyone. But if you can use them without changing how you spend, you could get about $1,300 in annual value against an $895 annual fee.

And this doesn't include the harder-to-quantify benefits like lounge access, hotel status, travel insurance or AmEx Offers. Enrollment required.

» Learn more: Is the AmEx Platinum a glorified coupon book?

Is The Platinum Card® from American Express worth the yearly fee?

The short answer: Absolutely, if you are already planning on making purchases from some of the companies that are eligible for statement credits and you are willing to put in the work to track the benefits.

The new $895 annual fee can provide far more than that in potential annual value. Even conservative usage scenarios show the card paying for itself with room to spare. But just keep in mind that it's up to you to actually use those credits. Keeping track of all of them could take some extra effort.

Still, if you travel regularly, dine out frequently and can use the lifestyle credits, the math works strongly in your favor.