Get Started

Learn more about Credit Cards, Travel Programs, Deals, and more.

What’s the Amex Platinum Worth? My Updated Benefit Valuations

This post may contain affiliate links - Advertiser Disclosure. As an Amazon Associate, we earn from qualifying purchases.

Amex Platinum Card Benefits

Amex Platinum Value

I recently shared my favorite Amex Platinum benefits, taking into account both the consumer and business versions.  During the process, I reflected on how much my opinions of these cards’ benefits have changed over the years.  I figure it’s time to update how I value these various perks.  Today, I’m assessing my Amex Platinum value; I’ll cover the Business Platinum in a future article.  Let’s dive into the benefits, in no particular order.

Digital Entertainment Credit

Back in 2021 at launch, I initially valued this $20 monthly credit at 50%, or $120 annually.  I’ve subscribed to some of the included services for years, particularly SiriusXM and The New York Times.  Disney Plus is another we enjoy with our two young ones.  We also have taken advantage of Audible, as well, but it’s not one we would have bothered with sans credit.  The same goes for Peacock and Hulu.  I know I can’t overstate values, since I picked up solid deals on SiriusXM, the Times, and Disney Plus late last year.  That said, I’m fully maximizing this credit with those three services.

Annual Benefit Value:  $240

Amex Platinum Card Benefits
I recently enjoyed a delightful Fine Hotels & Resorts stay at The Bellagio in Vegas.

Hotel Credit

The Platinum offers a $200 credit redeemable on Fine Hotels & Resorts or Hotel Collection bookings (the latter requires a two-night stay).  I’ve found the best return on FHR stays.  This credit has opened my eyes to something I call elite status a la carte – a premium list of benefits that I can simply buy into for a fulfilling one-night FHR stay.  I hadn’t used FHR before this Platinum card benefit, and I’m now fully sold on this credit.  At this point, I’d probably splurge on at least one FHR stay annually without the credit.  I originally considered it a $100 benefit, but I now confidently, fully value the benefit with the accompanied exclusive perks.

Annual Benefit Value:  $200

Airline Fee Credit

Methods have changed, but like many of you, I’ve been able to fully use the airline fee credit without too much work.  However, I wouldn’t normally incur $200 in airline incidental charges annually.  Mine would be more like half that.

Annual Benefit Value:  $100

"Amex Platinum Card Benefits

Lounge Access

I’ve only been on two Delta flights in the last year, one where I enjoyed a Sky Club prior to departure.  My use of Centurion lounges has been a bit spotty, as well.  They’ve ranged from good enough to must-exit-immediately.  Perhaps Centurion lounges will improve since the recent admission limitations have gone into effect, but I don’t have high hopes.  Still, I do obtain value, albeit minimally and primarily at CLT.

Annual Benefit Value:  $50

Uber Credit

My family and I obtain solid value by using these credits mostly with Uber Eats pickup, and some delivery.  I wouldn’t normally pay the upcharge, but it does decrease our monthly expense of dining out.  The credit also comes in tremendously handy on trips where public transit isn’t practical.

Annual Benefit Value:  $100

Saks Fifth Avenue Credit

I use this biannual $50 credit to cover Christmas and birthday gifts.  There’s no getting around that Saks prices are inflated, and I wouldn’t be shopping there otherwise.  Nonetheless, I value it at 50% for what I can accomplish with it.

Annual Benefit Value:  $50

a pile of money on a white surface

Invest with Rewards Credit*

As an Amex Schwab Platinum cardholder, I should include how I value this benefit.  Indeed, it’s the primary reason I hold the Schwab version.  The Invest with Rewards feature enables cardholders to redeem Membership Rewards points at 1.1 cents per point for deposit into their Schwab accounts.  I and many others cash out enough to make this card worth holding indefinitely.  Big picture, I’d hold the Schwab Platinum solely for this benefit.  Paying the $695 annual fee for 1.1 cpp cashout is fine with me.  (I always try for retention offers, though.)

Annual Benefit Value:  $695

Everything Else

Of course, the Platinum comes with many other benefits.  The elite status levels from Marriott and Hilton are nice, but I already get those from other cards.  I have no interest in using the CLEAR, TSA PreCheck, or Global Entry credits.  Equinox or SoulCycle?  No, thanks.  Walmart+ is nice, but I wouldn’t pay for it otherwise.  Kudos to those who obtain value from the myriad other Platinum benefits – I don’t.

Annual Benefit Value:  $0


Interestingly, my annual benefit value for the Amex Platinum is $740 when I don’t include Invest with Rewards.  Thanks to recent upgrade bonus offers, my wife and I hold “regular” consumer Platinum cards in addition to our two Schwab Platinums.  Since we highly value Invest with Rewards, we’re likely to hold onto the Schwab cards and close the other consumer Platinums without the right retention offers.  But many can and do make the case for holding a “vanilla” Platinum card long-term.  I encourage you to value Amex Platinum benefits to better inform your next keep/cancel decision.  How do you feel about the value of Amex Platinum benefits right now?

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

 Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card is the old king of travel rewards cards. Right now bonus_miles_full

Learn more about this card and its features!

Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Benjy Harmon
Benjy Harmon
Benjy focuses on the intersection of points, travel, and financial independence (FI). An experienced world traveler, husband, and father, he currently roams throughout the USA close to expense-free. Benjy enjoys helping others achieve their FI and travel goals.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.


  1. Tricky to value for sure and I think each person will value it differently.
    For example, I value the Airline Incidental at $200 (you can use it for cheap flights) since I would use it anyways.
    Walmart+ might be blah but it comes with Paramont+ which I find is useful.

  2. How much is your time worth to chase after all of these discounts? I value my time and don’t want to use it to clip coupons to allow me to think that the Amex Platinum is still a good deal . . . when it’s really a massive rip off for anybody that values their time at more than zero. I really don’t understand how there are enough fools for Amex to sell this lousy product.

    • Mak,

      I have fun figuring out angles with the various credits and other benefits. I consider fun an excellent use of my time.

      Bigger picture, I disagree with the polarizing view of a card being “a massive rip off for anybody that values their time at more than zero.” That may be true for you and some, but others who have fun with the puzzle and card nuances can do big things with a variety of products, including the Platinum.

  3. Benjy,
    Always find myself being drawn to your perspectives, as they tend to be so different from mine, but, always enlightening.
    In my case, the 35% points rebates coupled with the discounts on certain airlines with the Business Platinum have literally saved me 1000s of dollars when mile or point travel is essentially unaffordable or unavailable, and I get the airline mile credits.

    • docntx,
      Thanks for the compliment, I guess?! 😉

      Bravo for your savings with the 35% points rebate on the Business Platinum. That benefit is killer for certain spenders. In a fantasy world where I substantially spend cash money on airfare, I’m right next to you with my Business Platinum!

  4. If you have a business you can cash out the MR points with their business checking at 1 cent now. I used to get value from the airline’s credit but those loopholes are now gone.

    • Robertw,
      The Business Platinum and business checking option work fine for many. But I and some others cash out at a rate that more than justifies holding the Schwab for the superior rate. The numbers differ for everyone. I encourage you to keep pursuing other airline credit loopholes/opportunities, both new and not so new.

    • With the Schwab version of the card, each MR point is valued at 1.1 cents if redeemed for cash via the Invest with Rewards Credit feature. Approximately 63,181 MR points could be redeemed for $695.

      If a person simply wants to convert one’s MR points to cash, fine. And, this is Benjy’s choice. For him, he might not have another practical use for MR points and cashing out is the most valuable alternative. Others might see this redemption method as providing zero value to one’s own circumstances.

  5. To be fair, this is an assessment of YOUR value from the card and not of anyone else’s value from the card. As such, no one should chime in with “I get this” or “I don’t get that.” Considerations for you:

    What about the additional card slot for referrals – now 100k MR points? If you can get additional referrals out of this, fine. If you can’t, fine. But, consider it.

    What about the incremental value derived from the extra 2X (5X versus 3X) on airfare? What about the incremental value derived from the extra 2X (5X versus 3X) on *similarly*booked* hotels (i.e., Chase LHR as opposed to UR)?

    Do you receive CLEAR for free via another card? If not, value the benefit . . . even if it’s zero.

    Have you ever used late check-out? Some properties charge $50 or $100 for late check-out. Have you ever received an upgrade from FHR that you would not otherwise have received?

    Do you use Paramount+ (even if you don’t use Walmart+)?

    Hope this helps.

    • Great perspectives there, Lee. I agree that the 5x airfare category is huge for many. I use a Platinum for such expenses, although they only amount to taxes/fees on my relatively infrequent flights. So it’s a negligible benefit for me. I have friends and family who have significant airfare spend, though, and they don’t use a Platinum for it. That obviously bothers me more than them.

      • While our objectives are different, I think we share a hard-driven quest for value from our cards. The Business Platinum is the most valuable card in my wallet. The nominal value-add I receive from the card is about $30k per year. Because simplicity is worth something – such as marital bliss – ha – I have ranked cards by *incremental* value if I were to add it to my wallet. The law of diminishing returns applies. I found that I can get about 95 percent of maximum conceivable points from ongoing spend out of three cards. Adding the absolute best fourth card might boost my total points by (say) two percent. Adding the absolute best fifth card might add another one percent. It’s not worth the effort to me. Of course, this is only talking about ongoing spending and excludes consideration of SUBs.

    • There’s a certain self-reinforcing that occurs.

      The real value of the Platinum (personal or business) is using it for ongoing spending (if only for certain categories of spending). Yes, one can coupon-clip the statement credits to break even on the annual fee. But, if a person is actually using the Card, the person is garnering meaningful value and concern about the annual fee disappears. And, if a person is actually using the Card at a level that truly creates value, then the person will easily meet the minimum spending requirement for the sign-up bonus. The MSR for the personal Platinum is $6k.

      Now, if a person is NOT actually using the Card at a level that truly creates value, then the Card is probably not a fit for the person (as a keeper card). And, if a person is NOT actually using the Card at a level that truly creates value, then meeting the $6k MSR for the SUB will be challenging . . . as it sounds that you are experiencing.

      So, if your objective is simply to capture the SUB and that’s it, then you’ll want to think about ways to shift your existing spending to the card whose SUB you are pursuing. While groceries and gas are not bonus categories for the Platinum (or certain other cards), the average household spends about $1k per month on them and those would meet half of the MSR. Add in an insurance premium. Add in dining. Etc.

      Consider the Resy offer for the Platinum. The MSR is the same BUT it gives a person 10X on restaurants during the first six months (subject to a cap).

      Best of luck.

    • Prateek,
      Indeed, if anything, I feel like I’m conservatively valuing the FHR credit at $200 in my situation.

    • Prateek, I think you’re confusing FHR from the $200 FHR credit. One is a program. One is a credit to the program.

  6. You overvalue the credits. Even if you usually get $200 use out of the FHR $200 credit, the fact that you’re prepaying and completely locked into using it within a year, means you ought to value it less.


Please enter your comment!
Please enter your name here