MoneyGeek's Take

The Platinum Card® from American Express Review

The Platinum Card® from American Express is one of the highest-rewarding travel credit cards available that offers benefits and bonuses on every travel purchase. While the annual fee is high, savvy travelers can take advantage of the card's features while on the road in order to get a great value that offsets the card’s fee.

Advertising & Editorial DisclosureLast Updated: 3/13/2023
Reviewed By     |  
The Platinum Card® from American Express

The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit to learn more.

The Platinum Card® from American Express is highly beneficial for frequent travelers seeking a luxury travel experience. Its reward program focuses on travel benefits by offering 5x reward points on airfare and hotel bookings. Every other purchase is rewarded at one point per dollar. Despite a pricey yearly fee and high APR, it charges no fee for international transactions. Plus, its luxury travel benefits more than outweigh its fees for luxury travelers. MoneyGeek's The Platinum Card From American Express review discusses the card's advantages and disadvantages to help you decide if the card is right for you.

Card Details to Know Up Front
  • Bonus, Fee or Feature
    Has or Not
  • Has Annual Fee
  • Has Balance Transfer Offer
  • Has APR Offer
  • Cash Back Rewards
  • Travel Rewards
Click to see this card’s rates, fees and how they compare to other cards in our dataset.

The Platinum Card® from American Express at a Glance

Aside from its lucrative membership rewards points and welcome offer, the Platinum Card from American Express can be very attractive to avid travelers thanks to its fee-free international transactions and high travel rewards points.

  • The Platinum Card® from American Express

    A great rewards card for air travel with premium benefits

    • Good–ExcellentRecommended Credit
    • $695Annual Fee
    • 1–5 Points per $1*Rewards Rate
    • 5xRewards Rate on Air Travel
    • 1xRewards Rate on Gas

Pros & Cons Explained

The Platinum Card® from American Express has many benefits that can be appealing. However, you must also take into account the card's shortcomings before making a final decision on whether or not to apply for it.


  • Benefits
  • High Travel Reward Points
    This card provides many benefits when making airline and hotel reservations. Each dollar spent on eligible travel and hotel bookings earns you five points, up to a maximum of $500,000 each year. This covers reservations made directly with passenger airlines or via American Express Travel.
  • No Foreign Transaction Fee
    Most people want a travel card with no foreign transaction fees. With this card, your international transactions are free of charge, allowing you to maximize your usage of the card and earn points.
  • Payment Flexibility
    You have the option of paying in full, paying the lowest amount necessary and carrying the remainder forward with interest or splitting major purchases into fixed monthly payments. The card’s payment options are helpful financing solutions for customers interested in payment flexibility.


  • Drawbacks
  • High Annual Fee
    Unfortunately, this card costs $695 a year. This is a lot of money. A credit card with travel rewards may not be worth it if you don't travel often and don't make use of the travel rewards and benefits.
  • Mediocre Non-Travel Rewards
    While the card offers high rewards on eligible dining transactions as a welcome offer, most other purchases earn only one point per dollar spent.
  • High APR
    Due to the card's high regular APR of 20.49% – 27.49% and penalty APR of 29.99%, it is only suitable for people who can pay their monthly bills in full.
balanceTransfer icon

The Platinum Card® from American Express does not rank among MoneyGeek’s top travel or rewards credit cards. Check out our list of the Best Travel Credit Cards if you'd like to see which cards made our list.

Bonuses & Rewards Explained

You could earn at least one point for every dollar you spend on eligible purchases with the Platinum Card From American Express. In addition, it provides significant rewards and bonuses for its cardholders.


New Membership Rewards

Your Platinum Card from American Express comes with a huge offer for new cardholders. If you make qualified purchases totaling at least $6,000 in the first six months of owning the card, you’ll receive 80,000 reward points. Additionally, you can earn an extra nine points per dollar spent on eligible restaurant purchases internationally and through Shop Small merchants in the United States. This is on top of the one point per dollar rewards.


Luxury Travel Benefits

Apart from travel rewards, this card provides access to exclusive events and experiences that enhance the comfort and convenience of your travel. Cardholders receive cash credits for Uber rides, hotel stays, digital entertainment purchases and Walmart purchases. They also receive cashback on Equinox memberships. You may even receive statement credit of up to $100 for TSA/Global Entry application fees. These benefits are subject to change, so keep a lookout for updates.


Earning Rewards

Membership Rewards points are awarded at a rate of five points per dollar spent on flights and hotel bookings made through an airline or American Express Travel. For every $1 spent on everything else, you get one point.


Rewards Redemption

To redeem and pay using points, you must be a member of the American Express Membership Rewards program. All of your reward points are stored in your Membership Rewards account and can be used to make purchases through the American Express travel program.

Other Features Explained

The Platinum Card® from American Express has a handful of impressive features that make it an easy and safer choice for your travel needs.

Refer to MoneyGeek's credit card glossary for more information on the terminology used in your credit card statement or terms.

  • Card Feature
  • Additional Card
    You may add an additional card to your account for anyone 13 years of age or older and earn points on purchases made with the card. Members are also eligible for an additional Gold Card with no annual fee.
  • American Express App
    Android and iOS users can download the American Express app. This app tells you about deals and reward programs that are available in your area. It offers safety features, such as card freeze and notifies you about fraud alerts and merchant transactions.
  • Send & Split
    With the app, you can use this feature to send money and divide purchases with any Venmo or PayPal user for free.
points icon

While the American Express rewards program enables cardholders to earn significant points, the company also provides outstanding membership benefits and advantages to cardholders. Additionally, the promotional deals offered to Platinum Card change often, so it’s wise to keep an eye on any changes so that you can maximize your rewards.

Understanding the Fine Print

It’s important to know your rights as a credit card holder. Understanding the Platinum Card from American Express and all of its advantages, fees and interest rates will help you compare this card with other options.

  • Card Feature
    Amount or Rate
  • APR
    20.49% – 27.49% Variable
  • Annual Fee
  • Cash Back Rewards
  • Rewards Rate
    1–5 Points per $1*
  • Airline Benefits
  • wallet icon

    Annual Fee

    The annual fee for the card is $695, which is on the high side. However, if you make the greatest use of the card and accumulate dining and Uber cash credits, this fee can be justified.

  • noForeignTransactionFee icon

    Foreign Transaction Fee

    Because there is no foreign transaction fee and the travel rewards are substantial, this card is ideal for use on overseas trips.

  • highInterestAPR icon

    Regular APR

    The American Express® Gold Card has a high variable APR ranging from 20.49% – 27.49%, plus a cash advance fee of 29.74%. These rates are subject to change based on The Wall Street Journal's prime rate.

  • rewards icon

    Rewards Rate

    For every dollar spent with the card, you will receive at least one reward point. Flight and hotel bookings can earn you five points per dollar.

creditCardsMagnifyingGlass icon

When comparing credit cards, their annual fees, APR, bonuses and rewards are all factors to consider. If you want to see how the Platinum Card From American Express stacks up with another card that you already own, check your credit card company's website, app or a recent card statement. The Consumer Financial Protection Bureau's (CFPB) credit card agreement database is another option to review to get more information.

Who Should & Shouldn’t Consider The Platinum Card® from American Express?


Other Considerations for The Platinum Card® from American Express

Whether the Platinum Card from American Express will be your first card, only card or an additional card in your wallet, there are some key things to consider before you apply for it.

Things to Consider if This Will Be Your First or Only Credit Card

As your first or only credit card, you must remember to pay the balance before the monthly cycle ends. The card's high annual percentage rate might add up quickly if you continue to use revolving credit.

Additionally, if you don’t travel often, this card is not recommended as your primary or only credit card. Instead, get a credit card with a lower interest rate and annual fee.

Things to Consider if This Will Be an Additional Card in Your Wallet

The Platinum Card® from American Express could be a worthwhile addition to your wallet as an additional credit card if you are a frequent traveler and its benefits exceed the higher annual fees of your other credit cards.

If you travel regularly, the five-points-per-dollar rewards for airfare and hotel bookings will pay off. Also, take advantage of its 10 points per dollar restaurant incentives whenever available as well as the ability to avoid transaction fees in foreign countries.

Additionally, remember to pay off your card in full each month so that you don’t get hit with high interest fees.

creditCardsMagnifyingGlass icon

MoneyGeek conducted in-depth studies of numerous credit cards and companies using a comprehensive rating methodology. The process begins with data collection from the Consumer Financial Protection Bureau's database, standardization of data points for card comparison, estimation of average spend profiles, consideration of each card's annual and introductory bonuses and calculation of the three-year value of holding the card. Additionally, the process entails monthly re-ranking of the cards and semi-annual updating of the card list.

How The Platinum Card® from American Express Compares to Other Cards

Compared to most other travel cards, this card performed well because of its high travel rewards and benefits and fee-free foreign transactions. However, comparing it to other reward cards could help you find a better option for your wallet.

Quick Comparison of The Platinum Card® from American Express

creditCard icon

The Platinum Card® from American Express

  • Annual Fee: $695
  • International Transaction Fee: None
  • Regular APR: 20.49% – 27.49% variable
  • Rewards Rate: One to five points per dollar
  • Best For: Frequent flyers and international travelers
creditCard1 icon

Capital One VentureOne Rewards Credit Card

  • Annual Fee: None
  • International Transaction Fee: None
  • Regular APR: 19.24% – 29.24% variable
  • Rewards Rate: 1.25 to five miles per dollar
  • Best For: Travelers looking for a no-annual-fee card

Other Helpful Decision-Making Q&As

You may have more questions about the Platinum Card from American Express. Our answers to some of the most frequently asked questions could help you make a decision on whether or not the card is right for you.

Still not sure about this card? Consider these options.

If you're still on the fence about applying for this card, research some of the other cards that offer similar benefits. If a rewards or travel card don’t match your needs, a no-fee cashback card might be better.

Learn more about credit cards in general

*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, credit card issuer, hotel, airline, or other entity. Learn more about our editorial policies and expert editorial team.
Advertiser Disclosure: MoneyGeek has partnered with and for our coverage of credit card products. MoneyGeek, CardRatings and may receive a commission from card issuers. To ensure thorough comparisons and reviews, MoneyGeek features products from both paid partners and unaffiliated card issuers that are not paid partners.