The Real Reason I Use the Amex Platinum Card — And It's Not About Status

When most people see the American Express Platinum Card, their first reaction is that it’s too expensive. A $695 annual fee tends to turn heads. But I see something entirely different: hotel upgrades, airport lounge access, Uber and streaming credits, and most importantly, a way to turn business spending into personal lifestyle rewards.

Now, to be clear, I don’t use the Platinum card for business expenses—it’s not built for that. But thanks to the points I rack up from my Amex business cards, this is the card I use to actually enjoy the perks. For me, the Platinum isn’t about showing off. It’s a strategic tool that helps me maximize value on both business and personal spending. If you're new to this world of rewards, I’ve created a free resource to help you get started—The Ultimate Travel Rewards Cheat Sheet, which breaks it all down step by step.

How I Extract Real Value From the Amex Platinum

Let’s take a look at the specific benefits I use and how this card ends up paying for itself several times over each year.

First, there’s the $200 hotel credit through the Fine Hotels + Resorts program via Amex Travel. I’ve personally used this during a couple’s trip to Las Vegas at the Wynn, where we received an upgraded room and other premium perks. Then there’s a $200 airline fee credit that covers things like checked bags, seat upgrades, or in-flight snacks on your selected airline. The Uber benefit adds another $200 in annual value—$15 per month and a $35 boost in December, which can be used for rides or Uber Eats. I’ve even used it to order wine from a local liquor store.

Next is the $100 Saks Fifth Avenue credit, which comes in the form of two $50 credits—one in the first half of the year and one in the second. Many people let this one go unused, but I regularly take advantage of it, often stacking it with other online offers to get more value. Then there’s a $199 CLEAR credit to help bypass long airport security lines and a $120 Global Entry credit that includes TSA PreCheck, making travel more efficient.

The card also offers $240 in annual streaming credits, which I apply to Peacock and ESPN+. I end up paying a small overage each month, but the coverage still significantly offsets my entertainment costs. On top of that, you get a free Walmart+ membership, which I use for 10 cents off per gallon of gas and a Paramount+ subscription. I estimate the total value of that benefit to be around $250 annually.

Hotel Status and Luxury Travel Perks

You’re also granted automatic Marriott Bonvoy and Hilton Honors Gold status, which unlocks room upgrades, late checkout, and, in Hilton’s case, a $15 daily food and beverage credit—$30 if you’re traveling with someone. And when you book through the Fine Hotels + Resorts program, you get perks like free breakfast, a $100 property credit, and guaranteed late checkout. In my experience, those perks alone can be worth anywhere from $400 to $600 annually.

One of the most underrated features of the Platinum Card is airport lounge access. Whether it’s the Centurion Lounge, Priority Pass lounges, or Delta Sky Club (when flying Delta), the savings and comfort from access to food, drinks, and a quiet place to work or relax easily adds another $300 to $500 in annual value.

When you add it all up, I estimate that I extract over $2,400 in real value every year from the benefits I actually use. Subtract the $695 annual fee, and the return on investment is clear.

The Real Power Is in Business Spending

But here’s the game-changer: most of my Membership Rewards points don’t come from travel. They come from business spending. I pair the Platinum with the Amex Business Gold Card, which earns 4x points in my top spending categories, the Blue Business Plus, which earns 2x on nearly everything, and the Blue Business Cash, which earns 2 percent cash back on the first $50,000 spent annually. When you factor in what I spend every month on business operations, those points accumulate fast, and they fuel the perks I enjoy for personal travel and lifestyle upgrades.

This is exactly the strategy I explain in detail inside the Ultimate Travel Rewards Cheat Sheet. It’s free, easy to understand, and will help you start turning your spending into real benefits without wasting time or money.

Why Entrepreneurs Should Avoid Business Debit Cards

If you’re still using a business debit card, I’m telling you right now: stop. You’re leaving rewards, perks, and credit-building opportunities on the table. Debit cards don’t offer you anything in return. The smart move is to switch to a business credit card that aligns with your spending, pay it off in full each month, and turn every transaction into something that benefits you.

Is the Amex Platinum Right for You?

So, who is the Amex Platinum for? It’s ideal for frequent travelers, entrepreneurs, and strategic spenders who know how to use these benefits consistently. It’s not for people who carry balances or for anyone who values simplicity over value. This card does require effort, but if you put in the work, the rewards speak for themselves.

This is not a basic rewards card. It’s a power tool. And if you’re new to all of this, download The Ultimate Travel Rewards Cheat Sheet to learn what cards to start with, how to earn points fast, and how to avoid common mistakes. The link is in the description below.

If you’re ready to apply for the Amex Platinum, you can use my affiliate link. If you’re approved, you support the channel, and just to be clear, I only recommend products I actually use.

Final Thoughts

I don’t use the Amex Platinum for status. I use it for strategy. I use it to travel better, save more, and turn every dollar I spend on business into personal rewards that upgrade my life month after month.

Next Step: Want the step-by-step playbook?

Download The Ultimate Travel Rewards Cheat Sheet