The American Express Platinum Card offers eight main statement credits that can reduce the effective cost of the annual fee. If used fully, these credits amount to nearly $1,600 in value per year, more than double the card’s annual fee.
Let’s look at each credit individually and how you can take full advantage of them.
Some American Express Platinum card benefits:
1. American Express Platinum card for Airline fee credit
This is one of the most basic, yet still confusing (to some), benefits of the American Platinum Card. Each calendar (not account anniversary) year, cardmembers can get up to $200 back in statement credits toward incidental fees on a single U.S. airline of their choice that they designate.
Technically, this credit is meant to be used toward charges such as checked baggage fees, seat assignment fees, airline lounge passes and similar expenses. Depending on how airlines code certain purchases, however, it is also sometimes possible to purchase airline gift cards to use toward tickets and be reimbursed via the credit (note that this can change unexpectedly).
Potential annual value:Â $200.
2. Uber credits
Cardmembers receive up to $200 in Uber Cash per calendar year toward U.S. rides and Uber Eats orders. They can also register for complimentary Uber VIP status, which gives access to better cars and better-rated drivers in select locations. You must link your Platinum Card to your Uber account to take advantage of this benefit. Once that’s done, you’ll automatically receive $15 in Uber cash credit each month, except for December, when you get $35 worth.
The monthly credit can be used on multiple rides, but any unused portion doesn’t roll over at the end of the month. Assuming you take one or two rides or place an Uber Eats order in the U.S. each month, it’s easy to max out this perk.
Potential annual value:Â $200.
3. Saks Fifth Avenue credit
The card’s Saks Fifth Avenue credit is available in the form of two $50 statement credits per year. Each year you can get one $50 statement credit for Saks purchases between Jan. 1 and June 30 and another $50 statement credit for purchases between July 1 and Dec. 31.
You’ll need to enroll your Amex Platinum Card for this benefit to take effect, but there’s no minimum purchase required. If you don’t shop at Saks yourself, you can still buy lots of gifts for others (enrollment is required).
Potential annual value:Â $100.
4. Digital entertainment credit
In an attempt to make the Platinum Card more lifestyle-focused, Amex added a digital entertainment credit that offers reimbursement for the following services: Audible, Peacock, SiriusXM, The New York Times, Disney+, ESPN+, Hulu and The Wall Street Journal. You can mix and match how you’d like to take advantage of this, but you’ll earn up to $240 in annual statement credits (broken down into $20 monthly increments). While you may or may not subscribe to the eligible services, it can help offset the cost if you already use one of the services listed above. (Enrollment is required).
Potential annual value: $240.
Other American Express Platinum card benefits
1. Airline and hotel bonus categories
Cardholders earn 5 points per dollar on airfare when booked directly with airlines or with American Express Travel. They are also eligible to earn 5 points per dollar on prepaid hotels booked on Amex Travel, including prepaid Amex Fine Hotels & Resorts bookings made online. The Platinum card also has trip cancellation, interruption and delay insurance. However, it still does not include baggage delay reimbursement.
2. Lounge access
The Platinum Card has the best lounge access benefits of almost any rewards card, thanks to The American Express Global Lounge Collection. The Lounge Collection includes Priority Pass Select membership and access to Delta SkyClubs, Escape lounges, Plaza Premium lounges, Air Space lounges, Centurion Lounges and International American Express Lounges.
The card’s Priority Pass Select membership gets the cardholder and two guests into more than 1,300 Priority Pass lounges worldwide for free, although you’ll need to request your membership card. In addition, unlike the Priory Pass privileges on other cards, it does not include credits at airport restaurants. (Enrollment is required for Priority Pass.)
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