Is Amex Platinum worth it?
Worth it only if you'll use the credits.
The $695 fee pays off if you naturally use the airline, hotel, and Uber credits. If you'd stretch to use them, skip it.
Checked Sep 9
Why?
Credits cover the fee Airline, hotel, and Uber credits add up to roughly the $695 annual fee.
Lounges are the real value Centurion and partner lounges are the main reason to carry it.
The fee and credit amounts may have changed since early 2026; check the current terms.
Who is the Amex Platinum right for?
Right for
- Frequent flyers who check bags
- Travelers who use Uber and hotels monthly
- People who visit airport lounges often
- Those who value concierge and status perks
Wrong for
- Occasional vacationers
- People who won't track credits
- Cash-back seekers
- Those who prefer no annual fee
What does the Amex Platinum cost in 2026?
| Figure | Value | Why it matters |
|---|---|---|
| Annual fee | $695, 2026 | The fee is high but credits can offset it if used fully. |
| Airline fee credit | $200 a year | Covers checked bags and seat fees on one airline. |
| Hotel credit | $200 a year | Applies to prepaid bookings through Amex Travel. |
| Uber credit | $200 a year | Paid monthly, so you must use it each month. |
| Lounge access value | Over $100 per visit | Centurion lounges alone can justify the card for frequent flyers. |
What's the biggest Amex Platinum mistake?
The biggest mistake is paying the fee and letting credits expire. People treat credits as free money, but they only count if you use them. Set calendar reminders for monthly Uber credits and book the hotel credit early.
How do you decide if the Amex Platinum is worth it?
- List your last year's airline, hotel, and Uber spending.
- Add up the credits you'd actually use, not the maximum.
- Compare that total to the $695 fee.
- If the credits cover the fee and you'll use lounges, apply.
People also ask
What credits does it have now?
It's the credits, not the card. The Amex Platinum's value is almost entirely in its credits. If you use most of them, it pays for itself; if not, it's a very expensive wallet card.
Is the lounge access still good?
Still good, but tighter than it used to be. Centurion lounges are more crowded and some locations have waitlists, but the access itself hasn't been cut. The real question is whether you'll use it enough to justify the fee.
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