Is the American Express Platinum Card worth $895/yr?

The honest math on the American Express Platinum Card: which credits you'd actually use, what its points earn beyond a plain 2% card, and what its protections would cost to buy — against the $895 annual fee.

American Express · $895 annual fee · earns Membership Rewards

Earning rates

5x Flights booked direct or via AmexTravel (on up to $500,000/yr, then 1x)
5x Prepaid hotels via AmexTravel
1x Everything else (incl. dining, groceries, hotels direct)

Statement credits (12)

$600 Hotel Credit — $300 per half-year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings via AmexTravel.
$400 Resy Dining Credit — $100 per quarter at US Resy restaurants and other eligible Resy purchases.
$300 lululemon Credit — $75 per quarter at lululemon in the US.
$300 Digital Entertainment Credit — Up to $25/month toward eligible subscriptions (Disney+, ESPN, Hulu, NYT, Paramount+, Peacock, WSJ, YouTube).
$200 Airline Fee Credit — Incidental fees (bags, seats, lounge day passes) on one selected airline per year.
$200 Uber Cash — $15/month in Uber Cash ($35 in December) for US rides or Uber Eats.
$120 Uber One Credit — Up to $120 in statement credits per calendar year for an auto-renewing Uber One membership purchased with the card.
$200 Oura Ring Credit — Up to $200 in statement credits per calendar year toward an Oura Ring purchased at Ouraring.com.
$300 Equinox Credit — Up to $300 in statement credits per calendar year toward an Equinox club membership or Equinox+ digital subscription.
$155 Walmart+ Credit — Covers a monthly Walmart+ membership ($12.95/mo).
$219 CLEAR Plus Credit — Covers a CLEAR Plus airport security membership (up to $219 per calendar year).
Global Entry / TSA PreCheck Credit — $120 Global Entry credit every 4 years (~$30/yr) or TSA PreCheck every 4.5 years.

Protections and perks (9)

Global Lounge Collection — Centurion Lounges, Delta Sky Clubs (10 visits/yr with a Delta ticket), Priority Pass Select, Escape and Plaza Premium lounges.
Marriott & Hilton Gold Status — Complimentary Gold elite status with Marriott Bonvoy and Hilton Honors, plus Leaders Club Sterling status with Leading Hotels of the World (enrollment required).
Trip Cancellation / Interruption — Up to $10,000 per trip ($20,000 per 12 months) on round trips paid with the card.
Trip Delay Reimbursement — Up to $500 per trip when a covered round trip is delayed 6+ hours.
Cell Phone Protection — Up to $800 per claim for damage or theft when you pay your phone bill with the card ($50 deductible).
Secondary Rental Car Coverage — Secondary collision/damage coverage — pays after your personal auto policy.
Purchase Protection — New purchases covered 90 days against damage, theft, or loss, up to $10,000 per claim.
Extended Warranty — Adds a year to eligible manufacturer warranties of 5 years or less.
No Foreign Transaction Fees — No surcharge on purchases abroad.

Card data verified against American Express on 2026-08-20.

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