Since the very first American Express credit card was issued in 1958, AmEx has built a solid reputation for prestige and reliability. As a long-time AmEx cardholder, I’ve found their cards to be highly beneficial. However, two of the biggest challenges in getting more American Express personal or business cards—especially the American Express Platinum Card—are the high spending requirements to earn a welcome offer and the premium annual fees.
Many people assume that the American Express Platinum Card and other Amex cards are only for big spenders or a certain elite group. While they are certainly marketed that way, I’ve found that some can still be attainable and rewarding—even without a high budget.
Here’s how I met the minimum spend in my one-income household and put the American Express Platinum Card benefits to use, making the premium annual fee worth it. Spoiler: It was more than worth it during the first year. I’ll also share whether I decided to keep the card after that and if the benefits continued to outweigh the annual fee.
American Express Platinum Welcome Offer
Welcome Offer: The standard everyday AmEx Platinum welcome offer is usually 80,000 American Express Membership Rewards points for spending $8,000 in 6 months (not the best, if I’m honest).
Elevated Welcome Offers: In the last few years, AmEx has been offering anywhere from 75,000-100,00 points for spending anywhere from $4,000-$8,000 in 6 months, BUT many people are able to find even higher elevated offers.
In 2023, I hit gold (well, Platinum!). When I searched the card, I found a 175,000-point offer for spending $8,000 in 6 months! See below for how to find elevated offers.
American Express Platinum Card Annual Fee
Annual Fee:
A whopping $695
How can paying $695 be part of a budgeted lifestyle? In some situations, it absolutely can. You’ll see.
What finally pushed me to consider a premium card like the American Express Platinum?
Earning points and miles—and figuring out how to redeem them—has been a journey, both in terms of learning and shifting my mindset. In the beginning, I gravitated toward cards with low (or no) annual fees and manageable minimum spend requirements. But over time, I began experimenting with cards that had slightly higher fees, testing how much value I could really get in return.
A year out from a big anniversary trip to Italy, I remember having a conversation with my hesitant husband. We had some transferable points from other banks, but I assured him that with the American Express Platinum card welcome offer, I can definitely book us FREE (plus taxes/fees) economy flights for our trip and I was confident I could upgrade us in a measurable way. We were going to spend more than $695 on economy flights to Italy anyway, so why not make the most of it? Something clicked with him too. I applied, got approved, and just like that—Yes!
How to Meet the Minimum Spend Without Overspending
Hitting an $8,000 minimum spend to earn a welcome bonus might seem overwhelming, especially when most credit cards only give you three to four months to do it. That’s why one of the best perks of the American Express Platinum Card is its extended six-month spending window—allowing you to break the requirement into smaller, more manageable chunks of under $1,400 per month. This flexibility makes it much much more manageable for budget-conscious families who want to earn rewards through everyday spending.
Practical Ways to Meet the Minimum Spend Using Essential Expenses
The key is to use money you’re already spending instead of buying things you don’t need or otherwise wouldn’t buy. Charge these unavoidable expenses to your card to make progress toward the minimum spend:
- Groceries and gas – Household essentials that fit into any budget
- Utilities – Electricity, water, trash, internet, and phone bills
- Medical and dental expenses – Routine checkups, prescriptions, or planned procedures
- Insurance payments – Auto, home, renters, or health insurance (pre-paying annually may even get you a discount!)
- School and childcare – Tuition, daycare, and activity fees
- Essential home or car repairs – If you have a necessary repair coming up, use your card and pay it off immediately
Taxes – Federal and state tax payments can be made with a credit card (a small fee applies, but the value of the welcome bonus often outweighs it if your spending can’t be met in other ways)
Extra Strategies to Meet Minimum Spend Without Extra Costs
If you’re still short on spending, strategic purchases can help you bridge the gap:
- Time it with known large expenses. If you have an upcoming large bill, home improvement cost, or other expense, time the opening of the card so this planned expense goes toward your minimum spend.
- Help a family member with a large expense. My dad once bought a new truck and let me put $2,000 of the payment on my card. He immediately wrote me a check to reimburse me—helping me hit my spend goal without extra costs.
- Cover group outings and get reimbursed. If you’re out for dinner with friends or family, offer to put the bill on your card and have everyone Venmo or pay you back in cash. Just be mindful—only do this with people you trust to pay you back promptly.
- Buy gift cards for future expenses. If you know you’ll need to shop at places like Amazon, Walmart, Target, or gas stations, consider buying small gift cards now to use later. For best results, buy them at a grocery store while purchasing groceries so they blend into the transaction—this helps avoid triggering Amex’s system, which sometimes flags larger gift card purchases.
By focusing on everyday purchases and strategic spending, you can meet the minimum spend requirement without unnecessary splurging—earning that valuable welcome bonus while staying on budget.
American Express Platinum Card Benefits
American Express markets the value of yearly benefits at over $1,500 per year, that is if you can utilize them to their fullest.
Spending categories
5X on Flights booked via the Airline or the AmEx travel portal on up to $500,000 per year.
5X on eligible prepaid hotels booked through the AmEx travel portal.
1X on everything else.
$200 Hotel Credit
Get up to $200 back in statement credits each year when you book Fine Hotels + Resorts or The Hotel Collection when booked through the AmEx travel portal using your Platinum card (note: The Hotel Collection requires a two night stay).
$200 Airline Fee Credit
Select a qualifying airline, then receive up to $200 in statement credits per year for incidental fees that are charged to your Platinum card by the airline.
Although airline are subject to change, they are currently: Alaska, American, Delta, Hawaiian, JetBlue, Spirit, Southwest, and United.
$240 Digital Entertainment Credit
Get up to $20/month in statement credits when you use your AmEx Platinum card for eligible purchases on Disney +, a Disney bundle, ESPN +, Hulu, NY Times, or Peacock.
Walmart + Membership
Free Walmart plus Membership after statement credit each month. This means free shipping on Walmart orders.
$200 in Uber Cash
$15/month ($20 in December) for Uber Eats and rides with your Platinum card selected as payment method in your Uber account. This is use it or lose it each month.
$100 Saks Fifth Avenue Credit
$50 each six months on purchases made with your AmEx Platinum card at Saks Fifth Avenue.
$199 CLEAR Plus Credit
Use your AmEx Platinum to purchase a CLEAR Membership and receive a statement credit to cover the expense.
$300 Equinox Credit
Receive up to $300 in statement credits for eligible Equinox Membership fees or Equinox +.
$250 American Express Venue Collection Concessions Statement Credit
Up to $250 in statement credits for eligible purchases made at venues in the American Express Venue Collection, including food and beverage.
American Express Global Lounge Access
Access to AmEx Centurion Lounges and partner Lounges including Priority Pass, Plaza Premium, and Escape Lounges. Access to Delta Sky Club or Lufthansa lounges with select requirements.
Other Included Benefits
Car Rental Privileges and status with Avis, National, and Hertz
$120 Global Entry or $85 TSA Pre-Check
Cell Phone Protection
Global Dining Access by Resy
Hilton Honors and Marriott Bonvoy Gold Status
Trip Cancellation and Interruption Insurance
Trip Delay Insurance
Baggage Insurance Plan
Car Rental Loss and Damage Insurance
Extended Warranty and Purchase Protection
Maximizing the Real-World Value of the Amex Platinum Card
The American Express Platinum Card is packed with premium travel perks and statement credits, making it one of the best rewards cards for frequent travelers. The massive 175,000-point welcome bonus alone made it easy for me to justify the $695 annual fee, especially since I planned to use those points toward flights.
But beyond the welcome bonus, I wanted to see if the everyday credits and luxury benefits made the card worth keeping long-term. Over the past year, I put the Amex Platinum’s perks to the test—here’s what I found.
Everyday Value: Amex Platinum Credits in Real Life
$240 Digital Entertainment Credit – Used & Loved
✔ Covered my Disney+, Hulu, and ESPN+ bundle for the year.
✔ A seamless way to offset part of the annual fee.
Walmart+ Membership – Used, But Not Essential
✔ Free membership, including free shipping.
✖ I wouldn’t pay for this otherwise, and dealing with continued damaged items was a hassle.
$200 Uber Cash – Used about 50%, With Caveats
✔ Monthly Uber Eats orders and an airport Uber ride.
✖ The use-it-or-lose-it structure made it tricky.
✖ Sometimes, I had to spend extra money just to redeem the “free” credit.
$100 Saks Fifth Avenue Credit – Used, But Not Ideal
✔ Covered two $50 purchases per year.
✖ Shipping costs made it harder to fully maximize.
✖ Accidentally bought an item that led to a return. The credit was not reconciled until months later when my card was about to renew.
$300 Equinox Credit – Not Used
✖ No Equinox locations in my state (North Carolina).
✔ Digital Equinox+ app is now fully covered, but that wasn’t an option when I had the card.
$250 American Express Venue Collection Credit – Not Used
✖ Only useful for select people. This tends to require spending more money.
Cell Phone Protection – Not Used
✖ Required me to pay my phone bill with the card, and this is one bill I can’t charge due to logistics of my family plan.
Global Dining Access by Resy – Tried, But Not Convenient
✖ Limited restaurant options in my area.
✖ Couldn’t find the right opportunity to use it even while traveling in Italy.
Extended Warranty & Purchase Protection – Not Used
✔ A great feature, but I didn’t have any claims to make.
Travel Benefits: Do They Justify the Annual Fee?
5X Points on Flights & Prepaid Hotels (via Amex Travel) – Not Used
✖ I prefer booking directly with airlines and hotels to maximize points and benefits.
$200 Hotel Credit (Fine Hotels + Resorts & The Hotel Collection) – Tried, But Didn’t Use
✖ Limited selection meant spending more to use the credit.
✖ Even in Italy, it wasn’t cost-effective compared to points redemptions or Airbnb stays.
$200 Airline Fee Credit – Used Creatively
✔ Chose United Airlines and bought $50 TravelBank credits to redeem the full $200 (this doesn’t work with other selected airlines)
✖ Intended for incidental fees (like baggage) and I don’t usually incur these fees the way I travel.
$199 CLEAR Plus Credit – Missed Opportunity
✔ I later got CLEAR Plus with another card and found it valuable.
✖ Not sure I’d pay for it out of pocket, but it’s useful for frequent flyers.
American Express Global Lounge Collection – Great, But Less Useful Than Expected
✔ Accessed Priority Pass lounges and a Chase Sapphire Lounge (1X visit included in Priority Pass).
✖ Centurion Lounges were often inaccessible or unnecessary due to business/first-class lounge access that came with business class tickets I booked with points.
Car Rental Privileges (Hertz, Avis, National Status) – Not Used, but Would Have
✔ My husband already had Hertz President’s Circle status, but this can be valuable.
$120 Global Entry or TSA PreCheck Credit – Used & Worth It
✔ I got TSA PreCheck, which is amazing at my home airport (RDU).
✔ Many other credit cards offer this, but it’s still a solid perk.
Hilton Honors & Marriott Bonvoy Gold Status – Signed Up, But Didn’t Use
✔ Potential value for those without existing status.
✖ My husband has Hilton Diamond status, so we always book under his account and we didn’t stay at a Marriott.
Travel Insurance & Protections – Valuable, But Not Used
✔ Trip delay, baggage delay, and trip cancellation protections are better than many cards.
✖ The biggest gap? No medical coverage for doctor visits or hospital stays abroad.
✔ I always purchase separate travel insurance for medical emergencies when traveling internationally.
Final Verdict: Is the Amex Platinum Worth It?
After a full year with the American Express Platinum Card, here’s my honest assessment:
✅ It’s Worth It If You:
- Travel frequently and take full advantage of airport lounges, TSA PreCheck/CLEAR, and travel credits.
- Already pay for services like Hulu, Uber, or Saks, allowing you to maximize statement credits without extra spending.
- Stay at Fine Hotels + Resorts properties or fly airlines where the $200 airline fee credit provides real savings.
- HAVE A PLAN FOR YOUR WELCOME OFFER POINTS
❌ It’s Not Worth It If You:
- Struggle to use the travel credits without spending extra money.
- Prefer budget-friendly travel hacks over luxury perks.
- Need comprehensive travel medical insurance, which this card lacks.
How I Maximized My Amex Platinum Earned Points
One of the biggest wins from my Platinum card was redeeming 174,000 Membership Rewards points for a luxury flight experience from JFK to Milan on Emirates business class.
For 174,000 points + $212 in taxes, my husband and I enjoyed:
✈️ Lie-flat seats for a restful overnight flight.
🎁 Premium amenity kits, including soft pajamas and a reusable travel bag.
🍽️ Access to the Emirates Lounge at JFK, with gourmet food, drinks, and a private shower.
🍸 Onboard bar access on the Emirates A380, plus unlimited food and drinks in-flight.
If we had paid cash, this same flight would have cost $5,724. That redemption alone made the card well worth the first year’s annual fee!
Why I Ultimately Canceled My Amex Platinum Card
Year one was a no-brainer thanks to the welcome bonus and travel perks, but without the sign-up bonus, I had to reevaluate whether the $695 annual fee made sense long-term.
I explored downgrading to the Amex Gold or Green, but since both have annual fees and I wouldn’t earn a new welcome bonus, they didn’t feel like great alternatives for my spending habits.
Before canceling, I requested a retention offer and was offered 15,000 points for keeping the card and doing a new, smaller minimum spend. Still, it wasn’t enough to justify the cost. So, I canceled my Amex Platinum.
Other Considerations for Amex Platinum Holders
1. American Express “Family Rules”
Amex’s “Family Rules” prevent you from earning a new welcome bonus on lower-tier cards (like the Gold or Green cards) if you’ve previously held a higher-tier card like the Platinum. This rule stops cardholders from cycling through multiple cards within the same family to earn repeated bonuses.
2. Waiting Period After Cancelling the Amex Platinum
After canceling your Amex Platinum card, you typically must wait 7+ years before you can apply again and earn a new welcome bonus (Once per Lifetime Rule). This policy prevents customers from continuously reapplying for bonuses by canceling the card.
How to Check for Elevated Offers
Want to see if you qualify for an elevated offer? Here’s what I did:
I used a private browser and searched for the card in incognito mode. This prevents cookies from influencing the offers you see, giving you a fresh view of any available promotions. However, I checked again today and saw the same offer. Keep in mind, if I applied now, I likely wouldn’t qualify for the welcome bonus due to AmEx’s Once Per Lifetime Rule. 🙁
Other Ways to Find Elevated Offers
- Referral Links: Referral links are a great way to find elevated offers, often providing higher-than-usual bonuses. These links can come from friends, family, or even affiliate websites. When using a referral, both the person referring and the new applicant can benefit from the bonus.
- Seasonal & Targeted Promotions: Keep an eye out for seasonal promotions or targeted offers. AmEx sometimes runs special campaigns offering elevated bonuses for limited periods. If you already hold other AmEx cards, check your account to see if you’re eligible for a better offer on a new card based on your relationship with AmEx and your spending history.
- AmEx’s Account Offers: If you’re an existing cardholder, AmEx may offer tailored promotions directly within your account. These offers can sometimes provide increased bonuses or additional perks on new applications, depending on your account activity.
By leveraging these methods, you can increase your chances of securing the best AmEx Platinum offer available. If it’s a great offer, maybe it can easily make sense for the first year. After that first year, make sure to evaluate how YOU were able to use the stated benefits in line with YOUR spending habits. Consider if it’s worth keeping in future years or if the benefits no longer outweigh that $695 Annual fee.
Packing It Up!
The Amex Platinum is packed with value, but only if you actually use the benefits. If you’re a frequent traveler, the lounge access, travel credits, and perks can easily justify the cost. But if you’re stretching to make it worthwhile, the high annual fee might not be worth it.
For me? It was an incredible first-year experience, but not a long-term keeper. If you’re considering the Amex Platinum Card, take a closer look at the elevated offers and perks I’ve outlined. Don’t miss out on opportunities to maximize value from the card’s benefits—whether it’s securing a high welcome bonus or leveraging the travel perks.
Did you find an elevated offer? Share your experience below!
