Who should get the Amex Platinum — and who should skip it
Four things decide this: whether you have ever transferred points, whether you were buying it for a specific transfer partner, whether you are under 5/24, and — the one that overrides the other three — whether you carry a balance.
Buy this card the way you would buy a membership. The question is not whether the benefits total more than the fee on paper — the issuer’s own arithmetic always says yes — but whether you will be in an airport often enough for the lounge access to matter and organized enough to claim a set of credits that reset on different schedules in different places.
It fits the frequent flyer who is loyal to no single airline. The Global Lounge Collection spans networks that no co-branded card reaches, and for someone connecting through several hubs a year that access is the whole product. It also fits a household that already earns Membership Rewards quickly on another card and wants the premium benefits without a second points currency.
It does not fit an infrequent traveler at any income. Nor does it fit anyone who dislikes admin: this card asks more of its holder, in more places, on more schedules, than anything else we review. If the phrase "enroll to receive this benefit" makes you tired, our net-cost figure for this card is going to be optimistic about you.
What is the Amex Platinum welcome offer worth?
The offer is points, and the number that matters is not the headline — it is what the headline converts to at a redemption value we publish and defend. Here is the whole calculation.
- The current offer
- 175,000 points after you spend $12,000 on purchases in the first 6 months from account opening, the ceiling of an offer American Express varies by applicant — the issuer states welcome offers vary and that you may not be eligible for one at all†
- Our published value for Amex Membership Rewards
- 1.8¢ per point the sampling method behind this figure
- Points × our valuation
- $3,150
- Spending required to earn it
- $12,000 in 6 months
- Which means, per month
- $2,000on ordinary purchases, from account opening
- First-year value: offer + credits we count − year-one fee
- $3,653
The spend requirement is the largest in our set and runs over a six-month window. That combination suits someone with a planned large purchase and punishes someone who intends to get there on ordinary spending — the most common failure is coasting through months four and five and missing by a small margin.
Because the offer is once-per-lifetime, taking the public offer forecloses a better targeted one permanently. Check the pre-qualification tool and the offer shown on your own application page before you submit.
How fast does the Amex Platinum earn?
The multiplier is only half of an earn rate. The other half is what the currency is worth, and a high multiplier on a weak currency loses to a low multiplier on a strong one. The right-hand column below is the one to read: it multiplies each rate by our published valuation to give what a dollar of spending in that category actually returns.
| Rate | What earns it | Back per dollar |
|---|---|---|
| 5× |
| 9.0¢ |
| 2× |
| 3.6¢ |
| 1× |
| 1.8¢ |
Everything outside those categories earns 1×, which is 1.8¢ back per dollar at our valuation. That is the rate most of a normal household’s spending earns, so it deserves more weight than the headline multiplier when you compare cards.
Airfare booked directly with an airline earns at the top rate and everything else earns the base rate, which is genuinely poor. On ordinary spending this card is beaten by no-fee cards in every category that matters.
The practical consequence: hold this card for what it gives you, and earn your points somewhere else in the same currency. A grocery-and-restaurant card in the same family will out-earn it several times over on the money a household actually spends, and the points land in the same balance.
What are the Amex Platinum perks actually worth?
Issuers publish a benefits total that assumes you claim every credit, in the right channel, in the right month, every year. Almost nobody does. So we discount each credit by how hard it is to claim, and we publish the discount rather than the conclusion — if you think a discount is wrong for your own habits, the table gives you everything you need to redo the arithmetic yourself.
| Benefit | Face value | Our discount | What we count |
|---|---|---|---|
| Hotel credit for Fine Hotels + Resorts and The Hotel CollectionUp to $300 in statement credits semi-annually — January to June and July to December — on eligible prepaid Fine Hotels + Resorts and The Hotel Collection bookings made through American Express Travel. The Hotel Collection requires a two-night minimum stay. | $600 | −60% | $240 |
| Global Lounge CollectionUnlimited access to Centurion Lounges, Escape Lounges, Plaza Premium and the other partner lounges in the collection, plus Priority Pass Select by enrollment. Delta Sky Club access is now rationed: 10 visits per eligible Platinum Card each year, issued at account opening and then each February 1 and expiring January 31. | $400 | −45% | $220 |
| Resy creditUp to $100 in statement credits each quarter on eligible Resy purchases. Enrollment required, and an unused quarter does not roll forward. | $400 | −50% | $200 |
| Uber Cash$15 in Uber Cash each month plus an additional $20 in December, for US rides and Uber Eats orders. Unused monthly amounts do not roll over. | $200 | −35% | $130 |
| Digital entertainment creditUp to $25 in statement credits each month against a fixed list of subscriptions. Enrollment required, and the eligible list changes. | $300 | −60% | $120 |
| Airline fee creditStatement credits for incidental fees charged by one airline you select each calendar year. Enrollment required. Airfare itself does not qualify. | $200 | −50% | $100 |
| lululemon creditUp to $75 in statement credits each quarter at lululemon stores in the US, on lululemon.com or in the lululemon app. Enrollment required. | $300 | −70% | $90 |
| CLEAR Plus creditCovers an annual CLEAR+ membership, which is useful only at airports and venues where CLEAR operates. | $219 | −65% | $77 |
| Walmart+ monthly membership creditOne Walmart+ monthly membership fee, up to $12.95 plus applicable taxes, credited each month. Monthly memberships only — the annual plan does not qualify. | $155 | −70% | $47 |
| Equinox creditStatement credits each calendar year against eligible Equinox club memberships or a stand-alone Equinox+ subscription. Enrollment required. | $300 | −85% | $45 |
| Hilton Honors Gold and Marriott Bonvoy Gold Elite statusComplimentary mid-tier status in both programs, by enrollment. | $100 | −60% | $40 |
| Uber One creditStatement credits against Uber One membership fees charged to the card, per calendar year. | $120 | −70% | $36 |
| Oura Ring creditStatement credits each calendar year on Oura Ring purchases at ouraring.com. Enrollment required. Membership fees and accessories are excluded. | $200 | −85% | $30 |
| Global Entry or TSA PreCheck creditOne statement credit every four years, for either up to $85 toward the TSA PreCheck application fee or up to $120 toward the Global Entry application fee. | $30 | −20% | $24 |
| Total | $3,524 | −$2,126 | $1,398 |
These benefits carry no dollar value in our model, either because they are insurance that pays only on a claim or because their value depends entirely on circumstances we cannot generalize. They are real, and they are excluded from the arithmetic above deliberately — counting them would let us inflate the card’s value without evidence.
- Travel and purchase insurance package. Trip delay, trip cancellation and interruption, baggage insurance, secondary car rental loss and damage coverage, cell phone protection, return protection, purchase protection and extended warranty. All are secondary and all carry their own limits.
- Membership Rewards transfers to 20+ partners. The reason to hold the card past year one. See our Membership Rewards transfer partner guide.
This is the most heavily discounted benefits stack we model, and the reason is structural rather than editorial. The airline credit applies to incidental fees rather than airfare and requires selecting one carrier in advance. The hotel credit runs through one booking channel. The entertainment, rideshare and retail credits each attach to a specific merchant and reset monthly or semi-annually. Face value assumes you claim all of them, in the right place, in the right month, every month.
The two credits most holders do recover are the rideshare credit, because it attaches to spending that already happens, and the Global Entry credit, which is close to free money on a four-year cycle. The retail and entertainment credits are the ones most often left unclaimed.
Lounge access is the benefit worth paying for and the hardest to value. Access is not the same as entry at peak times in busy hubs, and our discount reflects that. Value it against the number of times you will actually walk in, not against the price of a membership you would never buy.
What the card really costs each year
This is the number to compare across cards, and it is the one almost nobody publishes: the annual fee minus the credits a realistic person claims. A negative figure means the card pays you to keep it.
- Annual fee
- $895
- Credits we count (from the table above)
- −$1,398
- Net annual cost, year two onward
- −$503Negative: on our discounting, the card returns more than it charges.
How do you redeem Amex Membership Rewards?
The currency is the best part of the card. Membership Rewards reaches more airline and hotel programs than any other US currency, including the Japanese program with a published round-trip premium-cabin chart and a European program running monthly promotional awards.
Amex runs transfer bonuses more often than any other issuer, which materially raises the median value of a point for a holder willing to wait for one. That patience is the difference between the top of our valuation range and the middle of it.
Avoid the fixed-rate redemption paths. Pay With Points against a charge, and gift cards, are both capped near the bottom of what this currency can do. If your plan is to redeem that way, the card’s entire premium is unjustified.
Every partner the program publishes appears below, including the ones we would tell you not to use — an incomplete list is worse than none, because you cannot tell whether a missing partner means “not a partner” or “we forgot”. The final column resolves each ratio into what one point becomes after the transfer, which is the only honest way to rank them.
| Transfer timeTypical, not guaranteed | Sweet spot — what to actually book | |||
|---|---|---|---|---|
| ANA Mileage Club | 1:1 | 2–3 days | 1.6¢Loses value−0.20¢ vs. keeping the points as American Express Membership Rewards | ANA’s own round-trip business class between the US and Japan, priced off a fixed seasonal chart that remains one of the cheapest premium-cabin redemptions in the world. Amex is the only bank currency that reaches ANA Mileage Club directly.Transfer bonuses: ANA has never been bonused and never will be — Amex excludes it from every promotion. Budget three days for the transfer; ANA is the slowest partner on the list. |
| Air Canada Aeroplan | 1:1 | Instant to 24 hours | 1.5¢Loses value−0.30¢ vs. keeping the points as American Express Membership Rewards | Star Alliance business class to Europe off Aeroplan’s published distance table, with a 5,000-point stopover attached to a one-way.Transfer bonuses: Bonused every year or two at 20–30%; less frequent than the European partners. |
| Avianca LifeMiles | 1:1 | Instant to 24 hours | 1.4¢Loses value−0.40¢ vs. keeping the points as American Express Membership Rewards | Lufthansa and Swiss business class to Europe with no carrier surcharges — LifeMiles is the only Star Alliance program that does not pass them through, so the award settles for under $100 in cash.Transfer bonuses: One of the most frequently bonused partners: 15–40% bonuses run several times a year. |
| Qatar Airways Privilege Club | 1:1 | Instant to 24 hours | 1.4¢Loses value−0.40¢ vs. keeping the points as American Express Membership Rewards | Qsuite business class from the US to Doha and onward into South Asia or Africa, priced in Avios off a fixed table — the best business-class hard product in the world at a knowable price.Transfer bonuses: Bonused occasionally at 20–30% since Qatar joined the Avios family. |
| Singapore Airlines KrisFlyer | 1:1 | 12–48 hours | 1.4¢Loses value−0.40¢ vs. keeping the points as American Express Membership Rewards | Saver awards in Singapore Suites and long-haul business class, which Singapore releases to KrisFlyer members and effectively no one else.Transfer bonuses: Rare. Remember that KrisFlyer miles hard-expire three years from the date they are earned, so do not transfer speculatively. |
| Virgin Atlantic Flying Club | 1:1 | Instant | 1.4¢Loses value−0.40¢ vs. keeping the points as American Express Membership Rewards | ANA round-trip business and first class between the US and Japan — cheaper in Virgin Points than in ANA’s own miles on many dates, and Virgin transfers instantly where ANA takes three days.Transfer bonuses: Bonused regularly at 20–30%, several times a year. |
| British Airways Executive Club | 1:1 | Instant | 1.35¢Loses value−0.45¢ vs. keeping the points as American Express Membership Rewards | Short-haul distance-band awards on American and Alaska, where a sub-650-mile segment costs a small fixed number of Avios.Transfer bonuses: Bonused at 30–40% roughly twice a year, usually alongside Iberia and Aer Lingus. |
| Iberia Plus | 1:1 | Instant to 24 hours | 1.35¢Loses value−0.45¢ vs. keeping the points as American Express Membership Rewards | Off-peak Madrid–US business class on Iberia metal, which prices below British Airways for the same crossing and carries a fraction of the surcharge.Transfer bonuses: Bonused alongside British Airways and Aer Lingus, typically 30–40%. |
| Aer Lingus AerClub | 1:1 | Instant | 1.3¢Loses value−0.50¢ vs. keeping the points as American Express Membership Rewards | Off-peak Dublin–US business class, the cheapest transatlantic business Avios redemption with genuinely modest surcharges.Transfer bonuses: Bonused with the other Avios programs at 30–40%. |
| Air France-KLM Flying Blue | 1:1 | Instant to 24 hours | 1.3¢Loses value−0.50¢ vs. keeping the points as American Express Membership Rewards | The monthly Promo Rewards list, which discounts selected Air France and KLM business-class routes by 25–50%. Stack a Promo Reward with an Amex transfer bonus and the effective cost drops by more than half.Transfer bonuses: The most frequently bonused Amex partner. A 20–30% Flying Blue bonus runs multiple times a year, often for a full month. |
| Cathay Pacific Asia Miles | 1:1 | Instant to 24 hours | 1.3¢Loses value−0.50¢ vs. keeping the points as American Express Membership Rewards | Cathay’s own business class to Hong Kong, priced off a distance table, with the airline releasing space to its own members that oneworld partners never see.Transfer bonuses: Occasional, typically 20–25%. |
| Hawaiian Airlines HawaiianMiles | 1:1 | Instant to 48 hours | 1.3¢Loses value−0.50¢ vs. keeping the points as American Express Membership Rewards | HawaiianMiles convert into Alaska Mileage Plan, which makes this the only indirect route from Membership Rewards into a program with published partner award bands and a free one-way stopover. Confirm the conversion terms before transferring — this pathway has changed twice since the Alaska–Hawaiian merger.Transfer bonuses: Rarely bonused. Amex charges its excise-tax offset fee on transfers to Hawaiian, as it does for all US carriers. |
| Qantas Frequent Flyer | 1:1 | 24–48 hours | 1.3¢Loses value−0.50¢ vs. keeping the points as American Express Membership Rewards | Qantas business class across the Pacific and Qantas’ own oneworld partner awards, which price off a published distance table.Transfer bonuses: Bonused roughly annually at 20–30%. |
| JetBlue TrueBlue | 250:200 (an effective 1.25:1 penalty)fewer points out than in | Instant | 1.04¢Loses value−0.76¢ vs. keeping the points as American Express Membership Rewards | Nothing that justifies the ratio. A 20% haircut into a revenue-based currency valued below Membership Rewards is a losing transfer on every route we have priced.Transfer bonuses: Occasionally bonused, which merely restores the ratio to something close to parity. |
| Delta SkyMiles | 1:1 | Instant | 1.2¢Loses value−0.60¢ vs. keeping the points as American Express Membership Rewards | Occasional Delta flash sales on transatlantic economy, and Delta-operated seats during periods when the fare-linked price happens to dip. Outside those windows, a Membership Rewards point is worth more almost anywhere else.Transfer bonuses: Effectively never bonused. Amex also charges an excise-tax offset fee on Delta transfers, so the true cost is above 1:1. |
| Etihad Guest | 1:1 | Instant to 24 hours | 1.2¢Loses value−0.60¢ vs. keeping the points as American Express Membership Rewards | Etihad business class between the US and Abu Dhabi, and Etihad’s own regional awards within the Gulf and South Asia at fixed prices.Transfer bonuses: Bonused a few times a year at 20–30%. |
| Aeroméxico Club Premier | 1:1.6 (1,000 points become 1,600 Premier Points)more points out than in | Instant to 24 hours | 1.76¢About even−0.04¢ vs. keeping the points as American Express Membership Rewards | Delta-operated flights between the US and Mexico or within the US, priced in Premier Points. The 1.6x ratio does most of the work here — it is the only above-parity airline ratio on the Amex list.Transfer bonuses: Bonused occasionally, which pushes an already favorable ratio further. |
| Emirates Skywards | 1:1 | Instant to 24 hours | 1.1¢Loses value−0.70¢ vs. keeping the points as American Express Membership Rewards | Emirates first class on routes originating in Asia, where surcharges are far lower than on US or European departures.Transfer bonuses: Bonused occasionally at 20–30%. |
| Marriott Bonvoy | 1:1 | 24–48 hours | 0.7¢Loses value−1.10¢ vs. keeping the points as American Express Membership Rewards | None worth naming at 1:1 — a 1.8¢ point becoming a 0.7¢ point. Use it only to top up a Bonvoy balance you are short on for a specific booking.Transfer bonuses: Occasionally bonused at 20–30%; even then the conversion loses value. |
| Choice Privileges | 1:1 | Instant to 24 hours | 0.6¢Loses value−1.20¢ vs. keeping the points as American Express Membership Rewards | Nothing at 1:1. Citi and Capital One both transfer to Choice at 1:2, which is the ratio that makes Choice interesting — Amex’s does not.Transfer bonuses: Rarely bonused. |
| Hilton Honors | 1:2 (1,000 points become 2,000 Hilton points)more points out than in | Instant to 24 hours | 1.0¢Loses value−0.80¢ vs. keeping the points as American Express Membership Rewards | A five-night stay at a Waldorf Astoria or Conrad where the fifth night is free and the cash rate has spiked — the 1:2 ratio plus the night-free benefit is the only combination that gets this transfer above parity.Transfer bonuses: Bonused several times a year, sometimes at 100%, which briefly turns the ratio into 1:4 and makes it one of the better uses of Membership Rewards. |
Transfers are one-way and permanent. No bank has ever reversed one. Confirm the ratio on American Express Membership Rewards’s own transfer page and find award space in the partner’s program before you move a single point — a transfer made against space that turns out not to exist cannot be undone. Points do not expire while you hold at least one open Membership Rewards-earning card in good standing. Closing every such card forfeits the balance, so transfer out before you cancel your last eligible card. Amex may also forfeit points on an account that is significantly past due or closed for cause, and points cannot be transferred to another person’s Membership Rewards account.
Transfers cannot be reversed by any issuer, ever. Confirm the ratio on American Express’s own transfer page before you move points, and never transfer speculatively — transfer only once you have found the award seat you intend to book. Full detail on our American Express Membership Rewards program page.
The redemptions that justify holding this card
- Aeroméxico Club Premier1:1.6 (1,000 points become 1,600 Premier Points) · Instant to 24 hours
- Delta-operated flights between the US and Mexico or within the US, priced in Premier Points. The 1.6x ratio does most of the work here — it is the only above-parity airline ratio on the Amex list.One American Express Membership Rewards point becomes 1.76¢ here.
- ANA Mileage Club1:1 · 2–3 days
- ANA’s own round-trip business class between the US and Japan, priced off a fixed seasonal chart that remains one of the cheapest premium-cabin redemptions in the world. Amex is the only bank currency that reaches ANA Mileage Club directly.One American Express Membership Rewards point becomes 1.6¢ here.
- Air Canada Aeroplan1:1 · Instant to 24 hours
- Star Alliance business class to Europe off Aeroplan’s published distance table, with a 5,000-point stopover attached to a one-way.One American Express Membership Rewards point becomes 1.5¢ here.
- Avianca LifeMiles1:1 · Instant to 24 hours
- Lufthansa and Swiss business class to Europe with no carrier surcharges — LifeMiles is the only Star Alliance program that does not pass them through, so the award settles for under $100 in cash.One American Express Membership Rewards point becomes 1.4¢ here.
- Virgin Atlantic Flying Club1:1 · Instant
- ANA round-trip business and first class between the US and Japan — cheaper in Virgin Points than in ANA’s own miles on many dates, and Virgin transfers instantly where ANA takes three days.One American Express Membership Rewards point becomes 1.4¢ here.
Expiry. Points do not expire while you hold at least one open Membership Rewards-earning card in good standing. Closing every such card forfeits the balance, so transfer out before you cancel your last eligible card. Amex may also forfeit points on an account that is significantly past due or closed for cause, and points cannot be transferred to another person’s Membership Rewards account. Verified .
Our rating, axis by axis
Every card in the Award Rate database is scored on the same five axes, by the same people, before any commercial arrangement is considered. The rationale below is the reasoning, not a summary of the number.
What we like
- The Centurion Lounge network remains genuinely better than the alternatives, and access to it is unlimited
- Membership Rewards transfers to more airline programs than any competing currency, including several that price premium cabins off a real chart
- Airline and hotel elite status arrive by enrollment rather than by flying or staying
- No foreign transaction fees, and the insurance package is substantive rather than decorative
- The credit list has grown rather than shrunk, and the hotel and dining credits are the ones a traveler is most likely to clear
What we don’t
- The value case rests on a coupon book — credits split by month, by quarter and by half-year, each of which expires unclaimed if you forget
- Earning is thin outside travel booked through American Express; day-to-day spending belongs on almost any other card
- Delta Sky Club access is now rationed to a fixed number of visits a year rather than unlimited
- Several credits are tied to merchants many cardholders would never otherwise use, so the headline value overstates what a normal person recovers
- Amex is not accepted as widely as Visa or Mastercard outside major cities and abroad
- The annual fee is charged up front, in full, before you have used a single credit
Is it worth keeping in year two?
The retention question here is more consequential than on any other card, because the fee is the largest. Do the honest audit in month eleven: count only the credits you actually claimed, count lounge visits you actually made, and ignore the ones you meant to. If the total is short, ask about a retention offer before cancelling, and consider a downgrade into the family’s cheaper card rather than closing — closing forfeits the points balance.
What to consider instead of the Amex Platinum
These are the cards we would genuinely put in front of the same reader. Sort the table by whichever column is binding for you — net annual cost matters if you are fee-sensitive, first-year value if you are optimizing a single year.
The card we score highest here is not the one you clicked on: it is the Sapphire Preferred. The badge on the Amex Platinum row says Reviewed here rather than Our pick because that is all it means — it marks the subject of this page, not a recommendation. Our scores are set before any commercial arrangement is considered, and we would rather publish the contradiction than hide it: if the rating column disagrees with the page you landed on, the rating column is the one to read.
| Welcome bonusPoints / spend / window | Apply | ||||
|---|---|---|---|---|---|
| Reviewed hereAmex Platinumverified Terms Apply$895 annual fee · 19.49% – 28.49% variable APR | 175,000 / $12K in 6 moElevated offerthe ceiling of an offer American Express varies by applicant — the issuer states welcome offers vary and that you may not be eligible for one at all | $895 | -$503Credits exceed the fee | 4.3out of 5 | View at American Express for The Platinum Card® from American Express at American Express (opens in a new tab) We are not compensated for this card. It is here because it earned its place. |
| Sapphire Reserveverified Terms Apply$795 annual fee · 19.49% – 27.99% variable APR | 100,000 / $6K in 3 moElevated offer | $795 | -$59Credits exceed the fee | 4.4out of 5 | View at Chase for the Chase Sapphire Reserve® at Chase (opens in a new tab) We are not compensated for this card. It is here because it earned its place. |
| Amex Goldverified Terms Apply$325 annual fee · 19.49% – 28.49% variable APR | 100,000 / $8K in 6 moElevated offerthe ceiling of an offer American Express varies by applicant — the issuer states welcome offers vary and that you may not be eligible for one at all | $325 | $87After usable credits | 4.5out of 5 | View at American Express for the American Express® Gold Card at American Express (opens in a new tab) We are not compensated for this card. It is here because it earned its place. |
| Sapphire Preferredverified Terms Apply$95 annual fee · 19.24% – 27.49% variable APR | 75,000 / $5K in 3 mo | $95 | $15After usable credits | 4.7out of 5 | View at Chase for the Chase Sapphire Preferred® Card at Chase (opens in a new tab) We are not compensated for this card. It is here because it earned its place. |
Rates, fees and terms for all 4 cards aboveHide rates, fees and terms
The Platinum Card® from American Express American Express
Terms Apply$895 annual fee · 19.49% – 28.49% variable APR
Chase Sapphire Reserve® Chase
Terms Apply$795 annual fee · 19.49% – 27.99% variable APR
See full rates & feesHide rates & fees
- Annual fee
- $795
- Purchase APR
- 19.49% – 27.99% variable
- Balance transfer APR
- 19.49% – 27.99% variable
- Balance transfer fee
- Either $5 or 5% of the amount of each transfer, whichever is greater. Chase notes this account may not be eligible for balance transfers.
- Foreign transaction fee
- None
- Cash advance APR
- 28.49% variable
- Cash advance fee
- Either $10 or 5% of the amount of each transaction, whichever is greater.
- Penalty APR
- Up to 29.99%. Applies if you fail to make a minimum payment by its due date or make a payment that is returned unpaid, and can remain in effect indefinitely.
- Late payment fee
- Up to $40
- Returned payment fee
- Up to $40
- Authorized user fee
- $195 per card
Cards are issued by JPMorgan Chase Bank, N.A. Member FDIC. Offers, rates and terms are subject to change without notice.
Rates and fees reconciled against Chase’s published pricing and terms on . Issuers may change offers, rates and terms at any time without notice; confirm current terms on the issuer’s own page before you apply. Chase rates & terms · Chase card page
American Express® Gold Card American Express
Terms Apply$325 annual fee · 19.49% – 28.49% variable APR
See full rates & feesHide rates & fees
- Annual fee
- $325
- Purchase APR
- 19.49% – 28.49% variable
- Foreign transaction fee
- None
- Cash advance APR
- 28.74% variable
- Cash advance fee
- Either $10 or 5% of the amount of each cash advance, whichever is greater.
- Penalty APR
- Up to 29.99%. May apply if you do not pay at least the minimum payment due by the payment due date, or a payment is returned. Once applied it lasts at least six months.
- Late payment fee
- Up to $40
- Returned payment fee
- Up to $40
- Authorized user fee
- $35 per card
Terms apply to American Express benefits and offers. Enrollment may be required for select benefits. Visit americanexpress.com to view rates and fees.
Rates and fees reconciled against American Express’s published pricing and terms on . Issuers may change offers, rates and terms at any time without notice; confirm current terms on the issuer’s own page before you apply. American Express rates & terms · American Express card page
Chase Sapphire Preferred® Card Chase
Terms Apply$95 annual fee · 19.24% – 27.49% variable APR
See full rates & feesHide rates & fees
- Annual fee
- $95
- Purchase APR
- 19.24% – 27.49% variable
- Balance transfer APR
- 19.24% – 27.49% variable
- Balance transfer fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
- Foreign transaction fee
- None
- Cash advance APR
- 29.99% variable
- Cash advance fee
- Either $10 or 5% of the amount of each transaction, whichever is greater.
- Penalty APR
- Up to 29.99%. Applies if you make a late payment.
- Late payment fee
- Up to $40
- Returned payment fee
- Up to $40
- Minimum interest charge
- $0.50
Cards are issued by JPMorgan Chase Bank, N.A. Member FDIC. Offers, rates and terms are subject to change without notice.
Rates and fees reconciled against Chase’s published pricing and terms on . Issuers may change offers, rates and terms at any time without notice; confirm current terms on the issuer’s own page before you apply. Chase rates & terms
- Sapphire Reserve
- Wins if you would rather have one large flat travel credit that posts against almost any travel purchase than a stack of narrow merchant credits — it is much easier to recover. Read the full Amex Platinum vs Sapphire Reserve comparison.
- Amex Gold
- Wins for the same points balance at a much lower fee if what you want is earning rather than airport benefits. Read the full Amex Platinum vs Amex Gold comparison.
- Sapphire Preferred
- Wins for anyone who is not sure they will use a lounge: it delivers a full transfer list and better travel protections for a small fraction of the cost.
Will you be approved? The rules that get people declined
Being declined is the reader’s real risk on this page. A rejection costs a hard inquiry and leaves you with nothing, and in almost every case the reason is an issuer rule rather than your credit score. American Express applies the following to this card. None of them are published as policy, and none of them have an appeal.
Credit profile expected by American Express for this product: Excellent (740+). A score inside that band does not guarantee approval, and nothing on this page should be read as a prediction of one — issuers weigh income, existing exposure and account history alongside the score.
We are not compensated for this card. It is here because it earned its place.
Frequently asked questions
Is the Amex Platinum worth the annual fee in 2026?
Only for a frequent flyer who claims credits on a schedule. The lounge network is the one benefit no cheaper card can replicate, and for someone in airports twice a month it justifies a large fee on its own. But the rest of the fee is defended by narrow credits tied to specific airlines, hotels, retailers and apps, and our model — which discounts every credit by how hard it is to claim — lands the card only fractionally below break-even. Miss two credits and it is a losing product.
What is the difference between Amex Platinum and Amex Gold?
Gold is an earning card; Platinum is a benefits card. Gold earns quickly on groceries and restaurants and is designed to build a points balance. Platinum earns poorly on everything except airfare and exists to deliver lounge access, elite status and statement credits. They share a points currency, which is why holding Gold for earning and Platinum for benefits is a coherent pairing rather than a redundant one.
Which lounges does the Amex Platinum get me into?
The Global Lounge Collection spans Amex’s own lounges, a major US carrier’s club network when flying that carrier, Priority Pass locations, and several independent networks — the widest access attached to any credit card. The practical caveat is capacity: the flagship lounges in busy hubs regularly close their doors at peak times, so access on paper and entry in practice are different things, and our perk valuation discounts for it.
Can I get the Amex Platinum welcome bonus twice?
Generally no. American Express applies a once-per-lifetime rule per card product, and having held the Platinum before disqualifies you from a new-cardmember bonus on it even if the account closed years ago. The offer you see also varies by applicant — the pre-qualification tool and your own application page routinely show targeted offers better than the public one, and because the bonus is a single lifetime event it is worth checking both before applying.