Confession: I work at The Points Guy and know next to nothing about points and miles. Sure, I’ve flown with nearly every known airline and stayed with nearly every mainstream hotel chain you can think of, but for the most part, I was a bargain traveler hunting for the lowest price, brand loyalty be damned.
When it comes to credit cards, I had a Visa Platinum linked to my small credit union, but I rarely used it because it didn’t earn me any points. Instead, I relied on my trusty Capital One VentureOne Rewards Credit Card for everyday purchases for one simple reason: I hate fees, and it has none.
Especially since I never imagined the opening Platinum Card® from American Expresswhich has a higher annual fee of $695 (see Rates and Fees).
Surrounded by some of the brightest points and miles minds at TPG, I took the opportunity to learn what I could, which made me rethink what it means to have something of value.
Let me tell you why I now have Platinum Amex in my wallet and how I’ve made it work for my needs.
Buying a new car
I earned most of my 160,000 points by buying my car. After reading about how others A TPG writer bought a minivan using his Amex, and the wheels started turning.
I decided to buy my car at the end of the lease term. Given that I was in the market for a premium card anyway, I thought I might as well take advantage of the welcome bonus with such a large purchase. I was drawn to the Amex Platinum because I travel a lot, and it offers other incentives that appeal to me (more on that below).
Unfortunately, the dealer I was dealing with was not an Amex Auto Purchasing Program partner, but I convinced them to allow me to put a $5,000 down payment on my Amex Platinum. By doing this, I reached about 64% of the minimum spend requirement in the first six months of card membership — $8,000 — on my way to earning an 80,000-point welcome bonus.
Also, I earned 5,000 Amex Membership Rewards points which are worth 2 cents as of TPG’s December 2024 valuation. This purchase was like getting $100 back on my $5,000 down payment.
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It is worth noting that I could have bought the car directly through the bank that leased me. If I had done that, it would have cost me about $1,000 less, but I also wouldn’t have been able to add the extended warranty, or I could have used the card to pay to earn points.
After meeting the spending requirement, the 100,000 points I earned were worth about $2,000. So even though I spent an extra $1,000 going through the dealership instead of the bank, I still came out $1,000 ahead. That alone was more than enough to offset the $695 annual fee.
Total benefit: $1,100
Related: Best Credit Cards for Buying a Car
Clean up
Being careful with my money, I didn’t spend extra money on extra travel services, but working for TPG and seeing how often I’m on the road, I decided to take the plunge and Pay for Clear Plus.
I previously couldn’t justify the $199 annual cost, especially when the service isn’t available at all airports. But one of the benefits of Amex Platinum The Clear Plus subscription fee is reimbursed by an annual statement credit of up to $199, which finally gave me the nudge I needed to reactivate my account. I received my refund four days after the charge was posted to my account. Registration required.
Total Benefit: Up to $199
Related: How to sign up for CLEAR to expedite security at airports and stadiums
Global access
Total Benefit: Up to $120
Related: A Complete Guide for Authorized Users on the Amex Platinum Card
Centurion Lounge Access and Priority Pass
I’ll be honest: I don’t enjoy flying or the time right before or after it, so the idea of arriving at the airport early just to visit the lounge has never appealed to me. But, if I ever get a significant delay or a long layover, I’ll definitely take advantage of it Lounge access is provided by my Amex Platinum card.
Amex Platinum cardholders get access to American Express Centurion Lounges, Priority Pass Lounges, Delta Sky Clubs on same-day Delta flights* and a variety of other lounges. Registration required.
I don’t expect to use the Centurion Lounge very often. Still, estimating two significant layovers or delays per year, I could easily come out with a $200 value since the lounge has extensive food and beverage offerings that are complimentary for Amex Platinum cardholders.
Additionally, I signed up for Priority Pass to activate my complimentary membership, which is also provided as a card benefit. The least expensive Priority Pass membership is $99 a year.
*Effective February 1, 2025: Eligible Platinum Cardmembers will receive 10 visits per year to Delta Sky Club or Grab & Go when traveling on a Delta-operated flight on the same day.
Total benefit: $299
Related: Everything you need to know about the Priority Pass airport lounge program
Hotel status
I cringe to think how many times I’ve booked hotels based on price instead of consistently sticking with one or two brands to see a return on my investment. with Amex PlatinumCardholders can register for mid-tier hotel elite status with Marriott Bonvoy and Hilton Honors (registration required).
Although it is difficult to attach value to a hotel’s elite status, Marriott Gold Elite and Hilton Gold status are very useful for semi-frequent travelers. Benefits include extra points earned on bookings, room discounts and upgrades, free Wi-Fi and free meals and snacks, all of which can really add up.
In fact, I’ll probably extend some of my hotel stays to these two hotel goliaths and stay enough nights to justify half the value TPG assigns to each respective Hotel Elite status.
Total benefit: $1,000
Related: Guide to Marriott and Hilton Elite Status with Amex Platinum and Business Platinum
Entertainment credit
Total Benefit: Up to $240
Related: How to Use Amex Platinum Digital Entertainment Credit
Uber Credit
Cardholders of Amex Platinum Earn up to $200 Uber Cash per year (for use in the US). The credit is split into monthly increments of up to $15, except in December, when you earn up to $35 in Uber Cash.
That also applies to Puerto Rico, as I found out when I used my first month’s credit for piña coladas through San Juan only to have torrential rain ruin our outdoor plans. This credit also works for Uber Eats — between those two services, I use this credit completely. Registration is required.
Total Benefit: Up to $200
RELATED: How to Use Your American Express Uber Credits for Rides and Dining
Current earnings
with Amex PlatinumI earn 5 points per dollar spent on airfare purchased directly with airlines or through the Amex Travel Portal (up to $500,000 on these purchases per calendar year). Plus, I earn 5 points per dollar spent on prepaid hotels booked with Amex Travel.
This is a solid way to earn lots of Membership Rewards points.
Total benefit: $1,200+
Related: Amex Platinum Card Review: High Annual Fees with Loads of Benefits
The bottom line
This card is a total no-brainer for someone in the market for a big purchase, someone who travels a lot, or someone like me who wants to make up for lost time in the points, miles and loyalty game.
Apply here: American Express Platinum Card Or Check the CardMatch tool to see if you’re eligible for the 125,000 or 150,000-point Platinum Card offer (after meeting minimum spending requirements). These offers are subject to change at any time.
For Amex Platinum rates and fees, please click here.