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Perks Out the Wazoo – My Top Ten Amex Platinum Benefits

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Platinum Card Benefits

Amex Platinum Benefits

If I’m a fanboy of anything, Amex is probably the one.  And the Platinum cards, both the Amex Personal Platinum and Amex Business Platinum versions, are big reasons why.  While some see coupon books (and are very excited to use that tired joke), I see additional opportunities.  Platinum new card welcome offers, no lifetime language versions and otherwise, are consistently generous. But the ongoing benefits play a huge role in why we stockpile these cards, also.  Here are my top ten Amex Platinum card benefits.  How does your list compare?

Platinum Card Benefits

#10.  Walmart+ Membership Credit

Maybe the biggest punchline in the Platinum card portfolio, this recently-added benefit is quietly delivering (get that?) for our family.  Ironically, using Walmart+ delivery enables us to avoid doing one of our least-favorite things: going to Walmart.  We enjoy Walmart’s prices on certain items, but not the brick-and-mortar shopping experience which come with it.  More recently, this Platinum perk has trended up with the addition of Paramount+ streaming.

Photo Courtesy Saks 5th Avenue Toronto.

#9.  Saks Fifth Avenue Credit

Undoubtedly, this $50 biannual credit can be a nuisance to consume, but I feel it’s a worthy one.  I’ve regularly used it for years to zero out certain holiday and birthday gift expenses.  More recently, I’ve focused on hoarding credit for more substantial purchases.  For instance, I just picked up a $300 gift card at a Saks store by equally splitting the payment across six Platinums.

#8.  Lounge Access

A perk of the personal and business versions, I’m sure this Platinum benefit is much higher on other cardholders’ lists.  In our situation, we rarely use Centurion lounges or others within Amex’s network.  When I do, the lounges have ranged from good enough to get-me-the-hell-outta-here.  Unfortunately, this benefit is as unpredictable as it is popular.

#7.  Digital Entertainment Credit

Another “nuisance” benefit for many, we get substantial value out of this Platinum credit for certain services we already subscribed to and a few we did not.  This past November, we were able to completely cover the costs of Hulu, Disney+, ESPN+, Peacock, SiriusXM, The New York Times, and Audible across multiple Platinums.  Oh, and HBO Max, too.

#6.  Uber Credit

We have no problem using our monthly Uber credits aggregated in a common Uber Wallet (over $100 per monthcurrently) on Uber Eats purchases and also Uber rides while traveling.  Saving on dining (albeit at inflated prices) is nice, but I particularly enjoy using this Platinum credit for closer-to-free travel: short rides, local delivery joints during vacations, etc.

#5.  Wireless Credit

This $10 monthly credit isn’t out of this world, but the savings add up for individuals with multiple Business Platinums.  With a bit of work, I’ve come close to zeroing out our wireless bill.  In our current world of rising prices, any bill staying the same is seemingly pleasant, and a decrease feels like a miracle.  I’ll take every little bit with the wireless credit.

  • Tip: Visit CardMatch to see if you are targeted for an increased welcome offer.

#4.  Dell Credit

I didn’t normally shop at Dell prior to picking up a Business Platinum.  But the previous $100 biannual credit enabled some probably-needed tech upgrades for our family.  And the credit got better along with the $695 annual fee increase not so long ago.  Business Platinum cardholders now obtain a $200 Dell credit biannually, unlocking more expensive items without going out of pocket additionally.  Thanks to Dell allowing up to three payment methods per transaction, cardholders holding multiple Biz Plats can make a $600 purchase without taking a hit.  Dell can be a pain to deal with, but I’m not turning down this credit.

Platinum Card Benefits

#3.  $200 Airline Fee Credit

Both personal and business versions of the Platinum offer this annual credit good for a variety of airline incidentals.  Methods for using the credit have come and gone over the years, but I’ve been able to realize the full amount annually without too much extra effort.  Cardholders can amass a ton of credits here thanks to it being offered across each Platinum type.  Coupling that with a bit of patience has enabled some aspirational travel – more on that in a future article.

#2.  $200 Hotel Credit

This is probably the biggest surprise in my rankings.  Added as part of the Platinum’s refresh along with the $695 annual fee, I held tempered optimism at the time.  The $200 credit can be used for any Fine Hotels & Resorts booking or a two-night minimum Hotel Collection reservation.  I’ve had an outstanding experience leveraging this credit on FHR stays.  I used three consecutive nights of this benefit in the Washington, DC area. (Yes, I received the property credits for each night back then.  This policy has changed, but I’m still experimenting!)  I also had a blast hopping around Vegas while maximizing these credits, as well.  I’m now tinkering with more east coast properties.  In my view, FHR provides elite status a la carte.  I’ve genuinely enjoyed each use of this newish Platinum benefit.

American Express Business Platinum Benefits Guide - Over 30 Perks

#1.  Invest with Rewards

Rarely called by its official name in our hobby, I use the Schwab Platinum’s Invest with Rewards benefit to cash out Membership Rewards at 1.1 cents per point.  I’ve long been a cashout enthusiast, and this mechanism has played a huge role.  Many bemoaned the devaluation of the benefit from 1.25 to 1.1 cpp.  But my Membership Rewards redemption behavior remains unchanged, primarily because it’s been tremendously simple to continue earning this currency at scale.  Earn points, cash out, rinse, repeat.

American Express Personal Platinum – Learn More

American Express Business Platinum – Learn More


Plenty of other Platinum benefits exist, but these are my top ten.  Yours probably differ.  For instance, some cardholders obtain huge value out of the Business Platinum’s 35% airline bonus benefit, while I do not.  I may be bullish on some benefits more than others depending on my situation, but I don’t foresee any huge changes here soon.  Many aren’t in the position to hold both the personal and business Platinum versions, much less multiples of either or each.  Whether you’re a casual points fan or an active hobbyist, make your own valuations and apply for, hold, or product change cards accordingly.  And always be seeking retention offers.  How does your Platinum card benefits list compare to mine?

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.

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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. I like the cell phone insurance. Monthly it can cost $13-$17 / month with your wireless provider or Apple. We have 6 lines. It pays for the AF right off the bat. I have trouble using the airline credit. I mostly travel Business class so it already includes a lot of things I would normally have to pay for with economy tickets.

    • Freddy,
      Awesome! I know plenty of people who highly value cell phone insurance benefits. In your situation, that makes your Platinum decision much easier!

    • Wanda,
      We’re currently obtaining 5x on two personal Platinums at supermarkets related to upgrade offers, as I referred to in my responses to Michael and DaninMCI below.

  2. Benjy,

    Why didn’t the airfare pay-with-points rebate make your list? Cashing out at 1.53 cpp beats cashing out at 1.1?

    • EricF,
      It’s just not something my family and I use. As I mentioned in the conclusion, I’m confident many others rank that one highly. But if you’re implying that doing so to truly cash out is the goal, that’s not something I’m comfortable doing. Or maybe I’m misinterpreting your comment.

      • I was a bit loose with “cash out” as I’m not ending up with cash, but rather a service (flights) that I would have paid cash for in some circumstances- same effect on my bottom line.

        Maybe you find ways to book every flight on points? But even then, I wonder if the effort and spending needed to earn those points is higher than what’s needed to earn MR and exchange it at 1.53cpp for the flights?

        • EricF,
          Thanks for clarifying. We predominantly book my flights with miles – ones we did not obtain via bank point transfers. Rather, the miles have been primarily obtained via lucrative airline credit card welcome offers. Given this, the effort/spending (opportunity cost) of earning miles this way is minimal, and cashing out Membership Rewards via Schwab easily wins the day in our situation.

  3. Hi Benjy,
    Which 4 card offers did you sign up for and what is your 1-4 recommendation based upon what is offered today and what you have learned thus far?

    • Michael,

      Thanks for chiming in. If you’re referring to my below comment about upgrade offers, our two most recent ones were 25k Membership Rewards on $2k spend plus 5x supermarket/dining/gas station spend up to $15k for six months. The two previous were the same to slightly higher points-wise.

      My 1-4 rankings deliver the most meaningful return for my family and me. I can totally understand others rating Platinum perks differently for their respective situations.

  4. With respect Benjy, those perks you’ve referenced as ‘free’ aren’t free. You’ve simply prepaid those expenses via the annual fee. It’s up to everyone to apply their discount factor to the credits appropriately. But there is no ‘free’, and its facetious to suggest this.

    • I totally agree. If effort, research, and work need to be done to obtain something, it is not Free. Our time and energy are very valuable and worth a lot of money, and spending it on figuring out how to optimize the “perks” to cover the annual fee is work.

      • Jacob,

        I’ve already reconciled the value of my time. It’s why I did this over five years ago (see the fourth sentence).

        Also, what you call “work” I call “fun.” I enjoy spending my time on such endeavors. Different strokes for different folks.

  5. 6 platinums. That is a lot of work and stress to use those credits to justify that $4k in annual fees in my world.

    • I agree. I am a points and miles enthusiast and spend a lot of time on this hobby, but there comes a point of diminishing return for the time and effort spent.

    • DaninMCI,
      Indeed, six personal Platinums! Here’s a bit more context. Four are in year one of upgrade offers; the bonuses here far outweigh the annual fees. The other two are Schwab Platinums, both of which are currently subsidized with retention offers. And we had already planned to keep those Schwab Platinums indefinitely, anyway.


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