Amex Platinum vs Amex Platinum for Schwab — which is worth it to you?

The American Express Platinum Card ($895/yr) and the American Express Platinum Card for Schwab ($895/yr) side by side: credits, earning rates against a flat 2% cash-back baseline, and protections — with your spending deciding which card actually wins each category.

Both charge $895 a year, so the fee itself is a wash. Both earn Membership Rewards, and a point from one is worth the same as a point from the other. What separates them is rates and credits.

Both cards pay a bonus on flights (5x vs 5x).

The Amex Platinum comes with 12 statement credits, the biggest being $600 Hotel Credit, $400 Resy Dining Credit and $300 lululemon Credit, plus 9 more. The Amex Platinum for Schwab has 12 statement credits: $600 Hotel Credit, $400 Resy Dining Credit and $300 lululemon Credit, plus 9 more. All of these are face values, and a credit only really pays out if it covers something you were buying anyway.

Both cards carry cell phone protection, elite status, extended warranty, lounge access, no foreign transaction fees, purchase protection, rental car collision coverage, trip cancellation and trip delay. The Amex Platinum for Schwab also has Annual Schwab Appreciation Bonus and return protection, with no equivalent on the Amex Platinum.

American Express Platinum Card

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.

Full American Express Platinum Card breakdown — 9 more benefits on the full page.

American Express Platinum Card for Schwab

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.

Full American Express Platinum Card for Schwab breakdown — 11 more benefits on the full page.

Card data verified against issuer sources: American Express Platinum Card on 2026-08-24, American Express Platinum Card for Schwab on 2026-08-27.

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