Why I Got the Amex Platinum Again—Despite the $895 Annual Fee
I previously downgraded my American Express Platinum Card to the Green Card—and eventually canceled that card, too. My reasoning was simple: I wasn’t willing to pay another annual fee unless American Express gave me a compelling reason.
That reason finally arrived in the form of a targeted welcome offer: 175,000 Membership Rewards points after spending $12,000 in six months.
Here’s why I accepted the offer, how it fits into my broader credit-card strategy, and which Platinum benefits I expect to use enough to justify the card’s substantial annual fee.
The offer that brought me back
My first Platinum Card came through an upgrade offer on my Gold Card. At the time, I earned 125,000 points after meeting the required spending threshold.
When the next annual fee posted, however, I couldn’t justify renewing without an additional incentive. I downgraded the card and ultimately canceled it.
This time, a friend of the channel showed me a link for a Platinum offer without the usual lifetime-language restriction. I applied, avoided the dreaded American Express pop-up indicating I was ineligible for the bonus, and received confirmation that the 175,000-point offer was attached to my new card.
The spending requirement works out to $2,000 per month for six months. That should be manageable for us, particularly because I added my wife as a paid authorized user.
Of course, targeted offers and eligibility can vary. Always confirm the exact welcome offer displayed during your own application before accepting a card.
Why the decision wasn’t automatic
Accepting the offer meant committing to an $895 annual fee, plus another $195 to add my wife as an authorized user. That’s nearly $1,100 upfront.
We chose the authorized-user route because we’re being intentional about her future card applications. Rather than opening a separate Platinum Card in her name, we want to preserve her ability to apply for a Chase Ink card and avoid adding another new account to her credit report.
Giving her an authorized-user card also makes it easier for us to meet the welcome-offer spending requirement while allowing her to access eligible card benefits.
One way I considered offsetting the initial cost was by redeeming 75,000 Membership Rewards points for cash. Because I also hold a Business Platinum Card and an eligible business checking account, I can redeem those points at one cent each. That could cover most of the primary card’s annual fee while still leaving me roughly 100,000 points ahead from the welcome bonus before accounting for points earned from the required spending.
That’s not necessarily the most valuable way to use Membership Rewards points, and I haven’t decided whether I’ll do it. But knowing the option exists made the upfront cost easier to accept.
My complicated history with American Express
This application came at an interesting time in my relationship with Amex.
I earned approximately 1.2 million Membership Rewards points last year, but this year has been significantly quieter. I received a 100,000-point Business Gold offer earlier in the year, while my last truly exceptional Membership Rewards offer was for 250,000 points on a Business Platinum Card.
American Express has also made it more difficult for some customers to earn additional bonuses. More applicants appear to be encountering “pop-up jail,” and changes to features such as Pay Over Time have eliminated some past opportunities to earn targeted bonuses.
As a result, I’ve recently spent more time with Chase, Citi and Capital One. With this new Platinum Card, I now hold all three of the major premium personal travel cards:
The American Express Platinum Card
The Chase Sapphire Reserve
The Capital One Venture X
Holding all three certainly isn’t the right move for everyone. For me, each card serves a different purpose—as long as I use enough benefits to overcome the annual fees.
The Platinum Card isn’t a great everyday spending card
Outside its travel categories, the Platinum Card’s earning structure is underwhelming.
The card earns 5X points on eligible flights booked directly with airlines or through American Express Travel, as well as on eligible prepaid hotels booked through Amex Travel. Most other purchases earn only one point per dollar.
That means the $12,000 required for my welcome offer may produce only about 12,000 additional points unless a meaningful portion of the spending falls into a bonus category.
I’m willing to accept that temporarily because of the 175,000-point bonus. Once I meet the requirement, however, this won’t become my default card for everyday purchases.
Airport-lounge access is a major benefit
Lounge access remains one of my favorite reasons to hold the Platinum Card.
I generally prefer Chase Sapphire Lounges, especially when traveling with family. I’ve visited locations associated with the network in Dallas–Fort Worth, Philadelphia and Washington Dulles, and each delivered a strong experience. The Dulles lounge was especially memorable because of its partnership-style setup, attentive service and more intimate atmosphere.
That said, the Centurion Lounge network still offers meaningful value. The Atlanta Centurion Lounge is particularly impressive, and the lounges generally provide complimentary food and a broad selection of drinks—even if crowding can sometimes be an issue.
The Platinum Card also provides limited access to Delta Sky Clubs when flying on an eligible Delta itinerary. An important advantage is that multiple eligible club entries during a single travel day may count as one visit. My wife’s paid authorized-user card also gives her a separate allocation of eligible visits.
Priority Pass membership is included as well, although I generally treat those lounges as a fallback rather than the card’s main attraction.
The hotel credit may deliver the most value
The card’s hotel benefit is central to my renewal strategy.
It provides up to $600 in annual statement credits, divided into two $300 periods, for eligible prepaid Fine Hotels + Resorts and The Hotel Collection bookings made through American Express Travel.
My wife and I are planning a trip to Copenhagen, London and several other European destinations. I expect to use credits from two separate benefit periods toward that trip.
I also find Amex’s Fine Hotels + Resorts and Hotel Collection portfolios broader and easier to use than several competing luxury-hotel programs. Because these are bookings we genuinely plan to make, I’m comfortable valuing the credit close to its face value.
Uber Cash is easy for us to use
The Platinum Card’s monthly Uber Cash is another relatively straightforward benefit.
It can be used for eligible Uber rides or Uber Eats orders, although the monthly amount expires if it isn’t used. When I don’t need a ride, I usually place an Uber Eats pickup order near my office. Pickup helps avoid delivery fees and inflated costs that could otherwise erode the value of the credit.
The benefit can also stack with Uber Cash from another eligible Amex card, such as the Gold Card.
The key is to avoid spending more than you normally would simply because a monthly credit is available.
How I’ll use the airline-fee credit
In previous years, I’ve used the airline incidental-fee credit for eligible Delta expenses, including guest access to Sky Clubs and certain fees connected with award travel.
I’ve also used United TravelBank in the past, although reimbursement behavior can change and cardholders shouldn’t assume that every purchase will qualify.
This year, I expect to designate Delta and use approximately $150 of the credit for Sky Club guest fees that we would otherwise pay out of pocket. I may not use the full benefit, so I’ll value it according to my actual plans rather than its advertised maximum.
The credits that fit our existing spending
Several other benefits align naturally with expenses we already have.
The Resy dining credit should be easy for us to use because we live in Orlando, travel regularly to Washington, D.C., and enjoy occasional date nights. Restaurants such as Norman’s and The Ravenous Pig give us realistic opportunities to use the benefit without manufacturing extra spending.
The digital-entertainment credit also fits our existing subscriptions, including services such as YouTube Premium, Disney+ and The Wall Street Journal.
I’ve enjoyed the Lululemon products I’ve purchased, particularly a hoodie, and may use that credit for cold-weather clothing before an upcoming trip to Edinburgh. The credit is valuable only because we already need some of those items; it wouldn’t make sense to buy overpriced clothing merely to avoid “losing” a benefit.
The benefits I won’t count at full value
Some Platinum benefits look impressive on paper but provide little or no incremental value to me.
I already receive Walmart+ through another American Express card. I use the service regularly for household essentials, groceries and drinks, but having a second membership doesn’t save me additional money.
We also already have CLEAR covered through other cards. That may change next year, but it doesn’t create immediate value today.
I own an Oura Ring and have been pleasantly surprised by its sleep and activity tracking. I might eventually use the card’s Oura benefit to buy one for my wife, particularly during a sale, but I won’t count that value until we actually make the purchase.
Other niche credits don’t match our habits at all, so I assign them a value of zero.
That’s an important rule for evaluating any premium credit card: a credit is not worth its advertised amount unless it replaces money you would otherwise spend.
Is the Amex Platinum worth it for me?
For this first year, the answer is yes.
The 175,000-point welcome offer creates a substantial cushion against the upfront cost. More importantly, the hotel, Uber, airline, dining and entertainment benefits align with expenses we already expect to incur. Lounge access adds meaningful convenience to our travel, especially with both of us having eligible cards.
But the math won’t remain favorable automatically.
The Platinum Card demands attention. Its credits are divided across monthly, quarterly and semiannual periods, and forgetting to use them can quickly undermine the card’s value. It also isn’t a strong everyday earner outside airfare and eligible Amex Travel bookings.
My approach is to judge the card by the value I actually receive—not by adding every advertised benefit together. If the benefits we naturally use continue to exceed the annual fee, I’ll consider keeping it. If using the credits begins to feel like work or encourages unnecessary spending, I’ll be ready to reconsider it when the next annual fee arrives.
For now, however, a 175,000-point offer was enough to bring the American Express Platinum Card back into my wallet.