The AmEx Platinum cards pack a huge array of perks that can easily justify their steep fees. In fact, one of our analysts notes that AmEx’s Platinum and Business Platinum cards “offer perhaps the most comprehensive benefits of any premium travel rewards cards”. Yes, two Platinums (personal and business, $695 + $795) plus a Gold card (about $250, soon $325) is roughly $1,700–$2,000 in fees.
A recent review stresses that, despite this “premium price tag,” the Platinum’s “amazing benefits like best‑in‑class airport lounge access, hotel elite status, and tremendous value in annual statement credits” can make it “one of the most lucrative cards in your wallet year after year”. In other words, if you use the cards’ credits and travel perks fully, those upfront fees can be more than made up.
Travel and Lounge Access
A major draw is lounge access. The Platinum cards deliver unrivaled airport lounge coverage: one guide calls it “the best airport lounge access out of any card”. Members get access to 1,400+ lounges worldwide – from AmEx’s own Centurion Lounges to Priority Pass lounges, Escape Lounges, Plaza Premium, and more.
You also get Delta Sky Club access when flying Delta (10 free visits per year, with unlimited Delta access unlocked after $75K annual spend), plus Priority Pass membership. For frequent flyers, these lounges can save hundreds on paid passes and make long layovers far more comfortable.
- Airport Lounges: Access to AmEx Centurion Lounges and the full Global Lounge Collection (Priority Pass, Escape, Plaza Premium, Airspace, etc.).
- Delta Sky Clubs: 10 complimentary visits per year (unlimited if you spend $75K+ on the card).
- Car Rental: Automatic elite status with Hertz, Avis, National – plus primary car rental insurance.
- Hotel Status: Complimentary Hilton Honors Gold and Marriott Bonvoy Gold status (enrollment required). These often include perks like free breakfast and room upgrades.
- Hotel Benefits: Access to Fine Hotels & Resorts and The Hotel Collection: every eligible 2-night stay earns a $200 credit on prepaid FHR bookings, plus FHR perks like room upgrades, daily free breakfast, late checkout and a $100 on‑property credit.
- Concierge Service: A 24/7 personal concierge can book restaurants, entertainment or travel details. As one user put it, “Using the Platinum Card Concierge is like having an assistant. They can make reservations, send a last-minute gift, or research an upcoming travel itinerary”.
- Travel Insurance: Both Platinum cards include strong protections. Trip cancellation/interruption is covered up to $10,000 per trip ($20,000 per year), trip delays over 6 hours reimburse up to $500 per trip, and lost/delayed baggage is covered up to $2,000 per checked bag (and $3,000 total). (These are extra to any airline-provided coverage.)
Altogether, these travel perks alone add up. Lounge passes, upgraded hotel benefits and credits on stays can easily exceed hundreds of dollars in value per trip. One review highlights that the Platinum’s lounge and hotel perks are part of its “tremendous value in annual statement credits” – a key reason it paid off year after year.
Statement Credits That Offset Fees
Each card also comes with numerous statement credits that directly offset the annual fee. Put simply, you get cash back on your card for things you’d likely pay for anyway. For example:
- Amex Platinum (Personal, $695 fee) – Annual statement credits include $200 airline fee credit (for baggage/seat fees, etc); $200 Uber Cash ($15/mo + $20 in Dec); $199 CLEAR® membership credit; up to $85 every 4.5 years toward TSA PreCheck or $120 every 4 years toward Global Entry; $100 Saks Fifth Avenue credit per year; plus up to $200 back on prepaid Fine Hotels+Resorts or The Hotel Collection bookings (through AmEx Travel). These can add up to $800–$1,000+ in value if fully used, just against a $695 fee.
- Amex Business Platinum ($795 fee) – Key credits include $200 airline fee credit (like personal Platinum); $400/year in Dell credits ($200 every 6 months); $360/year on recruiting (Indeed) ($90/quarter); $150 on Adobe subscriptions; $120 on wireless bills (up to $10/mo); $200 in Hilton hotel credits per year; plus the same $199 CLEAR® credit. (This is on top of the 35% bonus when redeeming points for airfare and other business travel perks.)
- Amex Gold ($250 fee, increasing to $325) – Statement credits include $120/year Uber Cash (Uber rides/and Uber Eats); $120/year dining credit ($10/mo at select restaurants and food delivery, e.g. Grubhub, The Cheesecake Factory); $84/year Dunkin’ credit (up to $7/mo); $100/year Resy credit ($50/half-year on dining via Resy); and a $100 hotel credit on 2+ night Hotel Collection stays. These can total $400+ in credits annually against a $250 fee.
In practice, cardholders combine these to nearly wipe out the fees. For example, a couple flying on Platinum could easily use the $200 airline credit and the $200 Uber credit (for airport rides) – that’s $400 offset.
Businesses routinely spend $1,000 on Dell every six months to grab the full $400 credit. Gold users charged at restaurants and grocery stores can trigger every $10 dining/Uber credit each month. All told, the annual credits alone often total well over $1,000 across the cards, making the net cost far lower than the sticker fee.
Membership Rewards Value
All spending on these cards earns AmEx Membership Rewards points, which can significantly boost value. Points generally run about 1¢ each in value when redeemed optimally. For example, one analysis finds AmEx points average ~1.2¢ apiece when transferred to travel partners (business-class flights, etc.), though only ~0.6¢ when used for statement credit. LendingTree’s breakdown similarly shows ~0.7–1¢ per point via AmEx travel bookings or gift cards, and only ~0.6¢ on a statement credit.
In practical terms, that means 100,000 points can often be worth $1,000 or more in flights/hotels. The Platinum cards accelerate this: one card guide highlights 5× points on airfare and prepaid hotels. So a $1,000 flight could earn 5,000 points (roughly $50–$60 value at ~1.2¢/pt). Even everyday spend adds up: 4× points on groceries and dining (Gold), 3× on airfare (Gold) and 5× on flights (Platinum) all rack up points quickly. High welcome bonuses (often 60k–80k points) further offset early years’ fees.
Put simply, every dollar you charge is giving you about a 1–5¢ “rebate” in travel value, depending on the category. If you redeem smartly (transferring to airlines/hotels or booking through AmEx at ~1¢ per point), those points can effectively pay for flights or hotels that would otherwise cost cash. For a frequent traveler, it’s not unusual for points earnings alone to cover hundreds of dollars per year in travel – which quickly tips the scales on a ~$2,000 fee spend.
Who Gets the Most Out of These Cards
These premium cards are most worthwhile for certain profiles. As one experts’ roundup puts it, AmEx Gold is “Best for Frequent Travelers” and Platinum “Best for Luxury Travel Benefits”. In practice, that means:
- Frequent/business travelers: People flying a few times a year (especially premium or international tickets) will hit $200 in airline credits easily and use lounge access each trip. Corporate or frequent flyers benefit greatly from the 5× airfare rate and lounge access that makes travel smoother.
- Big spenders in key categories: Those who regularly spend on dining, groceries, and travel (home deliveries, Ubers, etc.) unlock all the monthly credits. A household or business that can spend $20–50K a year on those cards will generate enough rewards points and credits to dwarf the fees.
- Luxury or family travelers: Folks who stay in high-end hotels or use concierge services gain from room upgrades, free breakfast and credits via Fine Hotels+Resorts. Similarly, if you have a family and pay for multiple flights or Ubers, each person’s $15 Uber credit or lounge access compounds in value.
- Entrepreneurs and business owners: The Business Platinum is ideal for companies that make frequent tech or telecom purchases – they can easily use the $400 Dell and $120 wireless credits every year.
Conversely, these cards don’t pay off for everyone. If you rarely fly or charge travel, skip lounges, and don’t use the monthly credits, the fees can look like a waste. But for the right person – someone using all the travel and credit benefits – the math works out very differently. In fact, detailed analyses find users can extract well over $2,000 in total value per year from these cards if they maximize every perk.
Bottom line: when fully utilized, the Platinum and Gold card suite can provide hundreds in cash-equivalent credits, thousands in points-based travel redemptions, and premium travel comforts that easily eclipse ~$2,000 in fees. For frequent flyers, big spenders, and business travelers, that makes the high fee “worth it” in practice.
