Is the American Express Platinum Card Worth It? A Detailed Review

Overview of the American Express Platinum Card

The American Express Platinum Card (Amex Platinum) underwent a significant upgrade in 2025, with an annual fee of $895, setting a record high for premium cards. However, many find that with the new benefits, justifying this cost has never been easier.

What sets Amex Platinum apart is that it’s not just a credit card; it’s like a coupon book filled with enticing perks that can also be quite complex to utilize. This upgrade has simplified the use of certain credits, providing real value to users.

Main Benefits of the Amex Platinum Card

In theory, the Amex Platinum card offers over $3,000 in value from annual benefits and credits. While this number is appealing, the actual value users receive often falls short of that. Here are four benefits that users can easily take advantage of:

• $600 Annual Hotel Credit: Easily attainable.
• $400 Annual Resy Credit: Also easily attainable.
• $300 Annual Digital Entertainment Credit: Extremely simple.
• $200 Annual Uber Credit: Worth its weight in cash.

These credits add up to a total of $1,500 that users can benefit from with minimal effort. Additionally, don’t overlook the points from airfare, lounge access, and hotel perks.

When to Apply and How to Maximize Benefits

Currently, the Amex Platinum card has a welcome offer of up to 175,000 Membership Rewards points after spending $12,000 within six months. This is a substantial figure, nearly equivalent to $3,000 in value if you value each point at about 1.7 cents.

It’s important to note that this offer has a “once in a lifetime” rule, meaning you can still be approved if you’ve had the card before, but you won’t receive the welcome bonus. Notably, since this is a hybrid card, it doesn’t count towards Amex’s limit of four cards per year.

Real-World Evaluation on Everyday Spending Needs

One of the biggest drawbacks of the Amex Platinum card is that it’s not designed for everyday spending. The bonus categories for everyday expenses are quite limited, offering only 5x points for direct flight bookings and 5x points for prepaid hotels through Amex Travel.

However, those looking for rewards from daily spending might want to consider other cards like Amex Gold (4x on dining and supermarkets in the U.S.) or Amex Green (3x on dining, travel, and public transportation). Remember, Amex Platinum primarily provides value through its credits and accompanying perks, not from regular spending.

How to Easily Utilize the Credits

Amex Platinum offers an annual hotel credit of $600, split into two installments (with $300 available each half of the year). This allows users to book stays at luxury hotels at great value, combining it with offers from Amex Fine Hotels + Resorts to maximize benefits. For instance, a night at Rosewood Bangkok costs around $320, and you can receive numerous perks when booking through FHR, such as room upgrades and spending credits at the hotel.

Additionally, the $400 Resy credit is also quite easy to obtain at participating restaurants. The $300 digital entertainment credit allows users to enjoy services like Disney+ or Hulu comfortably.

Useful Information for Vietnamese Travelers

For Vietnamese readers considering the Amex Platinum card, it’s worth noting that the card is currently not widely accepted and the service fees may be a disadvantage in some Asian countries. The annual service fee, which converts to about 25 million VND, may be too high compared to the actual benefits received, especially when some local credit cards offer valuable perks as well.

Moreover, if you frequently travel, it's essential to thoroughly research rewards programs and visa requirements. Some credit cards in Vietnam, such as those from VIB or ACB, provide many similar benefits but at lower fees and are easier for everyday spending.

Finally, always check for promotions from banks to maximize the benefits you can receive from the Amex Platinum card as well as other credit cards.

Article referenced and edited from: One Mile at a Time