Nobody hands you a roadmap when you get the American Express Platinum Card®. You pay the $895 annual fee (see rates and fees), the card shows up, and buried in the benefits portal is a list of credits that, if used, would more than wipe out that annual fee several times over.
Here’s how to make sure you’re not leaving money on the table.
The $200 airline fee credit
You get up to $200 each calendar year in statement credits for incidental fees charged by one airline you select. Terms apply. Checked bags, seat upgrades, in-flight food and drinks, change fees, are the sorts of things included, but not the base ticket price itself.
Pick your airline at the start of each year in your Amex account settings. Pretty much every airline charges for bags these days, so just pick whichever one you use the most.
The $600 hotel credit
Up to $300 in statement credits semi-annually on prepaid bookings at Fine Hotels + Resorts or The Hotel Collection through American Express Travel. That’s $600 back over the course of a year. Terms apply.
Two things to know: the credit requires booking through Amex Travel, not directly with the hotel. And The Hotel Collection properties require a minimum two-night stay. Fine Hotels + Resorts bookings also come with room upgrades, noon check-in, guaranteed 4 p.m. checkout, and complimentary breakfast for two. If you’re already staying at higher-end hotels, booking through Amex Travel instead of the hotel directly costs you nothing and gets you a lot.
The $200 Uber Cash + $120 Uber One credit
Amex loads $15 in Uber Cash to your account each month, plus a bonus $20 in December, totaling $200 for the year. Terms apply. It works for Uber rides and Uber Eats. It’s loaded monthly, so you can’t stockpile it. Use it or lose it.
On top of that, if you pay for an Uber One membership with the Platinum Card®, you get up to $120 back in statement credits each calendar year. Uber One costs about $9.99 a month, and the credit covers nearly the full year.
The easiest move on both: Set the Platinum Card® as your default Uber payment method and let it run.
The $400 Resy credit
Get up to $100 back each quarter when you use the Platinum Card® for eligible purchases at U.S. Resy restaurants. Terms apply; enrollment required. Resy is a restaurant reservation platform, and a wide range of restaurants accept bookings through it, including most major cities’ tough-to-get-a-table hot spots.
This one requires enrollment in your Amex account. Once enrolled, it’s one of the more usable credits on the card because eating out is something most people are already doing. If you spend $100 or more at Resy restaurants each quarter, this effectively covers itself.
The $300 digital entertainment credit
Earn up to $25 per month in statement credits for eligible streaming and digital services, including Disney+, Hulu, ESPN+, Peacock, Paramount+, YouTube Premium, YouTube TV, The New York Times, and The Wall Street Journal. Terms apply; enrollment required.
If you’re already paying for any of these, switching the charge to your Platinum Card® is a zero-effort $300 back over the year.
The $300 lululemon credit
Up to $75 per quarter in statement credits for eligible purchases at U.S. lululemon stores or lululemon.com. Terms apply; enrollment required. That’s $300 annually.
Like the Equinox credit before it, this one has a lifestyle qualifier: If you’re already a lululemon shopper, it’s easy money. If you’re not, it’s not worth changing your habits to chase it. But for cardholders who regularly buy athletic wear there, it’s one of the more straightforward credits on the card.
Lounge access: the hardest credit to quantify, the easiest to underestimate
The Platinum Card® includes access to Centurion Lounges, Priority Pass lounges, 10 complimentary Delta Sky Club visits per year (or unlimited if you spend $75,000 on the card annually), Plaza Premium, and select Lufthansa lounges. Terms apply; enrollment may be required. Amex estimates the value at over $850 per year.
A lounge day pass at the door runs $30 to $50 at most airports. If you pass through an airport four or five times a year, this benefit alone approaches the $895 annual fee (see rates and fees) in value. It’s not a statement credit with a dollar amount attached, but it belongs in any honest accounting of what the card is actually worth.
Start enjoying the lounge life and read our full American Express Platinum Card® review here.
The $209 CLEAR+ credit
CLEAR is the biometric security lane at airports and stadiums that gets you through the ID check line without waiting. A standalone membership runs $209 a year. The Platinum Card® reimburses the full cost as a statement credit when you pay with the card. Terms apply.
If you travel more than a handful of times a year, this one is almost frictionless to use. If you rarely fly, it’s the credit most worth skipping.
The $200 Oura Ring credit
Up to $200 back each year when you buy an Oura Ring through the Oura website using your Platinum Card®. Oura Rings are sleep and health tracking wearables, and the hardware starts at around $299. Terms apply; enrollment required.
This one’s new to the card. If you were already considering one, the credit makes the decision easier. If you weren’t, it’s probably not worth buying a device you don’t want just to use a benefit.
The $155 Walmart+ credit
Amex reimburses up to $12.95 per month when you pay for a Walmart+ membership with your Platinum Card®, covering most or all of the monthly membership cost. Terms apply. Walmart+ includes shipping, grocery delivery from Walmart stores, and a Paramount+ subscription at no extra charge.
If you shop at Walmart with any regularity, this credit basically makes the membership cost nothing.
The Platinum Card® isn’t for everyone. But for the right person, it can just make your everyday life so much cheaper. Read our full review, learn more, and apply for the American Express Platinum Card® right here.