Why I Love My American Express Platinum Card (Even With the $895 Annual Fee)

Last Updated on March 12, 2026

The Amex Platinum Card is perhaps the most well known premium credit card on the market. While no longer a truly exclusive product like it once was, it still has a reputation about it that catches attention. I got my Platinum Card back in 2022 and I love it.

As it has grown in popularity so has its annual fee, increasing to $895 as part of Platinum Card refresh in late 2025. Close to the thousand dollar mark, this is now the highest annual fee of the premium travel cards. Understandably, this has called for some to question whether or not the card is worth the high annual fee.

Despite the annual fee increase the American Express Platinum Card is still considered to be the best card on the market by many. Ultimately, that’s a question that can only be answered by you, as only you can determine how the perks of the card align with your life. If you’re on the fence though, let me tell you what I love my Platinum Card.

Purchase Protection

While not one of the flashiest benefits, it is still one of the benefits that gives a great deal of peace of mind. The purchase protection for the Platinum Card covers eligible purchases up to 90 days from the date of purchase, up to $ 10,000 per covered purchase. This is extremely generous coverage, but it’s not without limits. Certain items, such as food or plants, are not covered, and there is an annual coverage limit of $ 50,000. For a full terms check out the benefit document on the American Express website.

This is a benefit I’ve only had to use once, but it’s one I’m glad to know I have. It’s gives me confidence with my purchases that if it arrives broken or my package I stolen that I will be covered.

My experience using the protection was easy as well. The agent over the phone was able to help me and send me all the required forms. After about a week I got an email stating that my incident was covered and they sent me a check.

This is why I purchase any electronics or other high dollar value items with my Platinum Card. That peace of mind makes me feel much better.

Travel Insurance Protections

While almost a lifestyle card more than a travel card, it started as a travel card so there are of course travel benefits. Another benefit that tends to fly under the radar are the travel insurance protections included with your Platinum Card.

There are three different travel protections that each serve a different purpose. Trip Cancellation, Trip Interruption, and Baggage Delay. These insurances cover most scenarios you would run into during your travels without the need to purchase a separate policy.

I have used the trip interruption insurance before and it covered my cost of the new flight home and the nonrefundable portion of my original flight. I’ve also used the trip cancellation coverage as well. The process was easy to follow and straightforward.

Amex also has some auto rental collision coverage, however it is secondary to your personal auto insurance policy. For this benefit I actually use my Chase Sapphire Preferred as it has primary insurance for auto rentals.

5x Points on Flights

Unlike some other travel cards, the Amex Platinum Card doesn’t have many points multiplier categories. In fact, it only has one. Flights booked directly with the carrier or travel booked through American Express Travel earns 5x points.

Now I typically don’t use Amex Travel too much as I prefer to book direct. However, if you’re someone who books lots of flights like I am, then those points add up quickly. $5000 dollars in airline tickets over a year would earn you 25,000 American Express Membership Rewards points.

You can also check Rakuten to see if the airline you want to book with participates and earn even more points.

American Express Transfer Partners

Since I just talked about earning points, it’s only logical to talk about spending them. Amex has solid transfer partners that allow you to book flights and hotels across most major brands. They also run transfer bonuses form time to time making your points worth even more.

Walmart+ Membership

Now this is one perk that I think people really underestimate. Included with your Platinum Card is a monthly credit for a Walmart+ membership. This is seemingly their attempt to challenge Amazon for space in the quick delivery online warehouse arena.

Normally, I don’t shop in store at Walmart, but I find myself using Walmart+ for free quick delivery quite often. I live not far from a Walmart and most products are delivered for free in a day, or sometimes even same day. I also love the $0.10 off per gallon at Murphy gas stations.

Lifestyle Credits

Like a said earlier, the Platinum Card is almost more of a lifestyle card than a true travel card. As part of the refresh in late 2025 Amex added a Lululemon credit, as well as a RESY credit. This is in addition to the existing Saks credit.

My wife loves using the Lululemon credit to treat herself to something each quarter. If you need ideas, check out our guide on Lululemon travel essentials you can put your credit towards.

I enjoy using the Resy credit to try out new restaurants in our area, or for a nice date night.

The Airport Lounges

It’s impossible to mention the Platinum Card without mentioning the lounges. The Centurion Lounge, commonly referred to as just “The Amex Lounge”, is considered the benchmark for premium lounges in North America. While not at every airport, Amex maintains lounges at most major hubs.

Like most people, lounge access was a big part of my decision to get my Platinum Card. It’s also one of the reasons I love it so much. I love getting to the airport and being able to unwind in the lounge with a nice drink. The food, while still buffet style, is generally better than food you would find in other lounges or the concourse, making it feel like a real meal.

Your Platinum Card also comes with a membership to Priority Pass. This is a network of lounges all over the world. While the quality various and is generally not as good as Amex, there are some gems out there. If you are new to airport lounges are are unsure of etiquette, check out our guide on tipping at airport lounges.

Takeaway

For all the reasons listed above, and some more, I love my Amex Platinum Card. It’s been an integral part of my line up since I signed up. Understandably, the card doesn’t align with everyone’s lifestyle, and that’s ok. Even with the high annual I still love my Platinum Card.