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The Amex Gold currently offers 60,000 points after spending $6,000 on eligible purchases within the first six months of card membership, plus 20% back on restaurants in the first cardmember year (up to $100 back).

According to TPG’s July 2024 valuations, this offer is worth $1,300.

The Amex Platinum currently offers 80,000 points after spending $8,000 on eligible purchases within the first six months of card membership. According to TPG’s valuations, this offer is worth $1,600.

Amex may target some readers for an even higher offer through the Amex website and CardMatch tool (note that these offers are subject to change at any time). Given Amex’s once-in-a-lifetime policy for welcome offers, it’s worth checking before you apply to ensure you have the best deal available.

Winner: Amex Platinum. Its welcome offer has more value.

Related: Your Amex Gold checklist: Here are four things to do when you first get the card

Amex Gold vs. Amex Platinum benefits

Amex Platinum benefits

The Amex Platinum comes with a ton of perks to justify its $695 annual fee. There are too many benefits to list here, but we’ll review some of the highlights.

First, the card offers over $1,500 in annual statement credits, including:

• Up to $200 in airline incidental credits per calendar year: This isn’t valid for the purchase of airfare, but you can use this statement credit for incidental charges like seat selection, bag fees and lounge access.*
• Up to $200 in annual Uber cash every calendar year (for U.S. services): This is distributed as up to $15 in Uber Cash a month with a $20 bonus in December when you add your card to your Uber account. It’s valid for Uber rides as well as Uber Eats orders in the U.S.*
• Up to $100 annual Saks Fifth Avenue credit per calendar year: This is split up as up to $50 in statement credits for purchases made between January and June and another up to $50 for purchases made between July and December.*
• Up to a $200 annual hotel credit every calendar year: This statement credit is valid on prepaid Amex Fine Hotels + Resorts or The Hotel Collection bookings (of two nights or more) with Amex Travel when you pay with your Amex Platinum.*
• Up to $189 annual Clear Plus credit per calendar year: This statement credit will cover your annual membership.*
• Up to $240 annual digital entertainment credit every calendar year: You’ll receive up to $20 in monthly statement credits when you pay for eligible purchases with the Amex Platinum at select partners — including The New York Times and Peacock.*
• Up to $300 annual Equinox credit per calendar year: This grants cardmembers up to $300 in statement credits on select Equinox or Equinox+ app memberships (subject to auto-renewal).*
• Up to a $155 statement credit for Walmart+ every calendar year: This covers the monthly cost of a Walmart+ membership (up to $12.95 a month plus applicable taxes) when paying with the Amex Platinum (subject to auto-renewal). Plus Up Benefits are excluded.*

I don’t put much weight into several of these credits, but even if you maximized just a few, you could easily recoup a lot of the card’s annual fee.

Many other Amex Platinum perks also provide significant value that can’t be pegged to specific dollar amounts. For example, you’ll get extensive airport lounge access. Specifically, you’ll enjoy Priority Pass Select membership, access to Amex’s ever-growing collection of Centurion Lounges and access to Delta Sky Clubs when flying Delta (limited to 10 annual visits from Feb. 1, 2025).

In short, the Amex Platinum is one of the best cards for airport lounge access.

Amex Platinum cardmembers can also register for Gold Elite status with Marriott and Gold status with Hilton, enlist the help of premium concierge services and enjoy other lesser-known Amex Platinum benefits.

Although you will have to pay the $695 annual fee upfront at the beginning of your account year, all these perks make it easy to see how the Platinum Card can be worth its annual fee.

*Enrollment is required for select benefits, and terms apply to all benefits.

Related: How to maximize benefits with the Amex Platinum Card

Amex Gold benefits

The Amex Gold is one of the best-looking cards on the market, especially if you get the rose gold or white gold version. It has a much shorter list of benefits than the Amex Platinum, but the Amex Gold’s perks are still quite valuable.

Most notably, cardmembers can enjoy up to $424 in annual statement credits, including:

• Up to $120 in annual Uber Cash per calendar year: You’ll receive up to $10 in Uber Cash each month once you add your card to your Uber app, valid on Uber rides and Uber Eats orders in the U.S.*
• Up to $120 in annual dining credits each calendar year: You’ll receive up to $10 a month in statement credits when you make purchases with the Amex Gold at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com and Five Guys.*
• Up to $100 in annual credits for purchases made at Resy restaurants per calendar year: You’ll get up to $50 in statement credits biannually for eligible Resy purchases and dining at U.S. Resy restaurants.*
• Up to $84 in annual credits for Dunkin’ Donuts purchases: You’ll receive up to $7 per month in statement credits for purchases made at Dunkin’ Donuts.*

If you can max out these benefits, you’ll be in the green by $99 after considering the card’s $325 annual fee. That’s not even counting the value of the other perks of the Amex Gold.

*Enrollment is required for select benefits, and terms apply to all benefits.

Winner: Amex Platinum. The Platinum card has a much more extensive list of benefits, with lounge access arguably the most important. The trade-off is a much higher annual fee.

Related: Why I love my Amex Gold card — and will keep it for years to come

Earning points with the Amex Gold vs. Amex Platinum

Describing the standard bonus categories on the Amex Platinum is a short and simple task — not necessarily in a good way. Specifically, there are only two bonus categories to speak of:

• 5 points per dollar on flights booked directly with airlines or via American Express Travel (on up to $500,000 in purchases per calendar year; then 1 point per dollar)
• 5 points per dollar on prepaid hotels booked with American Express Travel

You’ll earn only 1 point per dollar on other eligible purchases.

The 5 points per dollar is a substantial benefit, equating to a 10% return based on TPG’s July 2024 valuations. However, the lack of other bonus categories and limitations means that the Amex Platinum doesn’t stack up well on the earnings front, especially compared to other premium cards.

Remember, too, that booking hotels through a third-party site (like Amex Travel) means you likely won’t be eligible to earn points and utilize the perks of elite status.

This downside makes the above earning rate much less attractive for hotels participating in a major loyalty program like Hilton Honors or Marriott Bonvoy — though it can work well for prepaid reservations through Fine Hotels + Resorts.

Meanwhile, bonus-earning categories are where the Amex Gold excels. Specifically, it accrues:

• 4 points per dollar at restaurants worldwide (up to $50,000 each calendar year, then 1 point per dollar)
• 4 points per dollar at U.S. supermarkets (up to $25,000 per calendar year; then 1 point per dollar)
• 3 points per dollar on airfare purchased directly from the airline or through amextravel.com
• 2 points per dollar on prepaid hotels and other eligible purchases booked through amextravel.com
• 1 point per dollar on other eligible purchases

Earning 4 points per dollar at restaurants, which amounts to an 8% return according to our valuations, makes the Amex Gold one of the best cards for dining at restaurants, even with the annual $50,000 limit.

The Amex Gold is also one of the best cards for groceries at U.S. supermarkets. Even with the $25,000 calendar year cap, that still requires over $2,000 per month in spending to hit it — though the U.S. restriction isn’t ideal.

That said, the strong earning rates across numerous categories are still worth exciting for most people.

Winner: Amex Gold. Although the Amex Platinum’s bonus categories earn points at a higher rate, the Gold card earns bonus points on more everyday spending categories versus the Platinum.

Related: Who should (and who shouldn’t) get the Amex Gold card?

Redeeming points with the Amex Gold vs. Amex Platinum