American Express Platinum Card Review (2026): Is the $895 Annual Fee Actually Worth Paying?
The Platinum Card® from American Express is one of the most premium general-purpose rewards credit cards available in the U.S., with a $895 annual fee and a suite of travel, lifestyle, and statement credit benefits that can deliver strong value if used strategically.
The American Express Platinum Card has always been positioned as a premium travel card — but after its 2025 refresh, the card entered an entirely new pricing tier.
As of 2026, the Amex Platinum carries an $895 annual fee, making it one of the most expensive personal credit cards on the market. In exchange, American Express now leans heavily into statement credits, lifestyle perks, and premium travel benefits rather than simple rewards earning.
That makes this card extremely valuable for the right person.
This review breaks down exactly who should keep the Amex Platinum in 2026, who should cancel or downgrade, and how realistic it is to justify the annual fee.
This post may contain affiliate links. If you apply through these links, I may earn a commission at no additional cost to you.
If you decide the Amex Platinum is a good fit, you can see the current welcome offer and apply directly here.
Amex Platinum at a Glance (2026)
Annual fee: $895
Rewards program: American Express Membership Rewards®
Best for: Frequent travelers who actively manage credits
Worst for: Casual travelers or anyone who wants simple, hands-off rewards
This is not a “set it and forget it” card.
How the Amex Platinum Earns Points
The Platinum Card earns points very well in one narrow category — and poorly everywhere else.
Earning Structure
5X Membership Rewards points on:
Flights booked directly with airlines
Prepaid hotels booked through Amex Travel
All other purchases earn a lower base rate
Because of this, the Amex Platinum is not designed to be your everyday spending card. Most cardholders pair it with:
Amex Gold (for dining and groceries), or
Amex Blue Business Plus (for flat-rate spending)
Key takeaway:
The Platinum Card is a benefits and access card, not a points-earning workhorse.
Amex Platinum Benefits & Credits (2026)
This is where the value lives — and where many people either win big or massively overpay.
Most benefits require enrollment and are use-it-or-lose-it.
Travel & Transportation Benefits
$200 airline incidental fee credit
Choose one airline
Covers fees like seat selection, checked bags, and onboard purchases
Up to $600 in hotel credits
$300 semi-annually
Valid on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings only
CLEAR® Plus membership credit
Up to ~$209 per year
Global Lounge Collection access
Centurion Lounges
Delta Sky Clubs (when flying Delta, subject to visit limits)
Priority Pass lounges
Select partner lounges worldwide
Global Entry or TSA PreCheck credit
Application fee reimbursed (up to $100 for TSA PreCheck or $120 for Global Entry)
Dining, Shopping & Lifestyle Credits
$400 Resy dining credit
$100 per quarter
Valid at eligible Resy restaurants
$300 lululemon credit
$75 per quarter
$100 Saks Fifth Avenue credit
$50 semi-annually
Platinum Nights by Resy
Access to exclusive dining reservations and curated experiences (no fixed dollar value)
Uber & Transportation Credits
Up to $200 Uber Cash per year
$15 per month
$20 bonus in December
Usable on Uber rides or Uber Eats
Uber One membership credit
Up to $120 per year
Covers the monthly Uber One subscription
Digital & Subscription Credits
$300 digital entertainment credit
$25 per month
Covers select services such as YouTube Premium, YouTube TV, Disney Bundle, Paramount+, and others
Walmart+ monthly membership credit
Covers the cost of a Walmart+ subscription (terms apply)
Wellness & Fitness Credits
Up to $300 Equinox credit
Applies toward eligible Equinox memberships or Equinox+ digital subscriptions
Up to $200 OURA Ring credit
Annual credit
Valid on qualifying purchases through Oura
Enrollment required
Hotel & Status Benefits
Leaders Club Sterling status (Leading Hotels of the World)
Enrollment required
Additional hotel perks when booking through Amex Travel, such as late checkout or property credits (when available)
These credits are where the card becomes high-maintenance. If you don’t naturally spend in these categories, the value becomes theoretical rather than real.
Total Potential Annual Credit Value
If you fully use every major credit:
The theoretical value exceeds the $895 annual fee
But very few people use everything organically.
The real question is not:
“What is the total credit value?”
It’s:
“Which of these would I already pay for without this card?”
Travel Perks Beyond Credits
In addition to statement credits, the Amex Platinum offers:
Hotel elite benefits and on-property perks when booking through Amex Travel
Access to premium events and dining experiences through Resy
Strong purchase protections and travel insurance coverage
These perks add meaningful soft value but shouldn’t be used to justify the card on their own.
Who Should Get the Amex Platinum in 2026
You’re a good candidate if:
You travel multiple times per year
You regularly use airport lounges
You already spend on Uber, digital subscriptions, dining, or wellness
You are comfortable tracking monthly and quarterly credits
You actively manage your credit card benefits
For these users, the Platinum Card can be net positive even with the $895 fee.
Who Should Skip the Amex Platinum
This card is a poor fit if:
You travel infrequently
You want simple rewards without tracking credits
You want to use it to earn points for your everyday spending
You dislike “coupon-style” benefits
In those cases, lower-fee travel cards often provide better value with far less effort.
Is the Amex Platinum Worth $895 in 2026? Let’s Do the Math
Rather than debating theoretical maximum value, the best way to evaluate the Amex Platinum is to look at credits most frequent travelers actually use without changing behavior.
Here’s a conservative, realistic example — not an edge case.
Credits Many Cardholders Naturally Use
$200 airline incidental credit
$200 Uber Cash (rides or Uber Eats)
$120 Uber One membership
$300 digital entertainment credit (streaming services many households already pay for)
$100 Saks Fifth Avenue credit (even if used for basics or gifts)
$209 CLEAR® Plus credit
$100 Global Entry or TSA PreCheck credit (averaged annually)
Subtotal: ~$1,229 in very realistic value
That alone already exceeds the $895 annual fee, without touching:
Hotel credits
Lounge access
Dining credits
Wellness credits
Hotel status perks
If you are interested in applying for the Amex Platinum, you can view the current offer here.
Where the Value Becomes Obvious
Add just one or two of the following — which many frequent travelers already use:
One $300 Fine Hotels + Resorts stay
A handful of Centurion Lounge visits
Partial use of the Resy dining credit
Occasional use of the ŌURA or Equinox credits
At that point, the card is no longer “worth it on paper” — it becomes clearly net positive, often by several hundred dollars per year.
The Real Question Isn’t the Math
The Amex Platinum is objectively worth more than $895 if you value and use the credits.
The real question is:
Do these credits fit your real life, or would you be forcing spend just to justify the card?
If the credits align with how you already travel, eat, and spend — the math works easily.
If they don’t, no amount of theoretical value will make the card feel worth it.
Final Verdict: Is the Amex Platinum Worth It in 2026?
The American Express Platinum Card is no longer a “nice-to-have” luxury card. At $895 per year, it is a deliberate choice.
But for travelers who genuinely use its credits — airline fees, Uber, streaming services, airport lounges, and at least a portion of the hotel or dining benefits — the math works quickly and clearly. Even a conservative mix of commonly used credits can outweigh the annual fee, and everything beyond that becomes upside.
The Platinum Card is best viewed as a premium access and benefits card, not a points-earning workhorse. When paired with a strong everyday spender, it can play a powerful role in a well-rounded travel strategy.
If you value simplicity, dislike tracking credits, or travel only occasionally, this card will feel expensive and unnecessary. But if you travel frequently and are willing to actively use its benefits, the Amex Platinum remains one of the most valuable premium cards available in 2026 — despite its high annual fee.
In short:
The Amex Platinum is absolutely worth it for the right person — but not for everyone.
For travelers who will actively use the credits, the Amex Platinum can be a strong long-term card. You can view the current offer here.