Travel hack · Last updated: October 29, 2026
Okay, let’s talk about the Amex Platinum
Hi hi! Here’s the math I use to rationalize paying for the Amex Platinum. Paying that fee every year sucks, I’m not going to pretend it doesn’t. But it really is worth it for us.
The trick is this: the credits are for things we would already, for sure, spend our money on. And the credits for just those things cover the whole cost of the card. Everything else (the lounges, the hotel perks, the insurance that saved us $2K on a TV) is basically a bonus.
The math
We pay $1,090 a year and get about $2,505 back in credits. That’s roughly $1,415 ahead before we even count the perks.
What it costs us
| Fee | Per year |
|---|---|
| Platinum annual fee | $895 |
| Jake’s card (additional Platinum) | $195 |
| Total | $1,090 |
Jake’s card isn’t just for spending. He gets his own lounge access, so we’re never stuck paying a guest fee for each other.
The “automatic” credits (we’d pay for these anyway)
| Credit | Per year | How it pays out |
|---|---|---|
| Digital entertainment | $300 | $25 a month (streaming, news) |
| CLEAR+ | $219 | Covers the full membership |
| Uber Cash | $200 | $15 a month, $35 in December |
| Airline fee credit | $200 | Bags, seats, snacks on the one airline you pick |
| Walmart+ | ~$166 | $12.95 a month plus tax |
| Uber One | $120 | Covers the membership |
| Subtotal | $1,205 |
The ones you have to remember to use
| Credit | Per year | How it pays out |
|---|---|---|
| Fine Hotels + Resorts / The Hotel Collection | $600 | $300 every six months, prepaid through Amex Travel |
| Resy | $400 | $100 a quarter at restaurants on Resy |
| lululemon | $300 | $75 a quarter |
| Subtotal | $1,300 |
Total back: $2,505. Net: about $1,415 ahead.
There are also credits we don’t use (Equinox, Oura, Global Entry), so your number could be even higher. And yes, most of these need you to enroll in the Amex app first. Do it once and they just roll in.
The perks that aren’t on the spreadsheet
- Airport lounges. FREE food and drinks, so you don’t have to buy absurdly priced airport food. Heads up: Centurion Lounges now charge $50 per guest unless you spend $75K a year on the card, and your guest has to be on your same flight. That’s exactly why Jake has his own card.
- Purchase protection. If something you bought gets lost, stolen or damaged within 90 days, you can file a claim with your receipt. Jake left his brand-new 56-degree wedge on a golf course in Montana. We filed, and the refund came through in literally 3 business days, so he could buy another.
- Extended warranty. You get up to an extra year of warranty after the manufacturer’s runs out. Our TV got that dreaded red line one week after the manufacturer warranty ended. We filed a claim with Amex and got the whole $2K back.
- The $600 hotel credit, plus perks. You get $300 twice a year toward a prepaid Fine Hotels + Resorts or Hotel Collection stay booked through Amex Travel. We always use it abroad, because the US hotels on the list are so expensive we can’t afford one night even with the credit. You also get a $100 property credit, a room upgrade when available, early check-in and late checkout. (Here’s how we turned it into two nights at the Waldorf Astoria Panama for $10.)
- Hilton Gold status. Enroll through Amex and you’re Gold. In the US you get a daily food and drink credit for up to two people (usually $10 to $25 each, depending on the hotel brand). Outside the US it’s free breakfast. Plus room upgrades when available.
- Rental car status. You get status with Avis, Hertz and National. I use Avis: when we land, they tell us which spot the car is in, we walk out, get in and go. No standing in that long airport line, and we often get a free upgrade.
- 5X points on flights. Honestly not the best points card on its own. But we also have the Amex Gold, which we use at restaurants, bars and groceries, and it racks up points fast. We transfer them to Hilton and get at least 10 free hotel nights a year, sometimes more.
- Amex Offers. Random seasonal deals you add to the card, like spend $150 at Best Buy and get $25 back, or spend $100 online at lululemon and get $20 back. Annoying, because you have to add each one manually in the app. But free money is free money.
So, is it worth it?
For us, yes. It’s only worth it if you’d actually use the credits, though. If you don’t Uber, stream, eat out or travel a few times a year, the math falls apart fast. And set reminders for the quarterly and six-month credits, because they don’t roll over.
If you’re thinking about getting it, here’s my referral link: Apply for the Amex Platinum. Right now (October 2026) it shows a 45,000-point bonus. Bonus offers change and vary by person, so compare it with the offer on Amex’s own site before you apply.
Full transparency: if you’re approved through my link, I may earn rewards too. This isn’t financial advice, just how we do it. Card terms change often, so check Amex for the latest.