The Amex Platinum Has
$3,500+ in Hidden
Annual Value

The American Express Platinum card is simultaneously the most criticized and most rewarding travel card on the market. Its $895 annual fee is the first thing anyone mentions. But that number obscures something important: the card's embedded credits and perks exceed $3,500 in annual value, and most cardholders leave at least half of that on the table.

This isn't about theoretical value or stretching the definition of "useful." Every benefit listed below is something a regular traveler (someone who flies 4-6 times a year and stays in hotels a few times a quarter) can realistically use without changing their behavior.

Amex Platinum Benefits: The Full Value Breakdown

Let's walk through every credit and perk, starting with the ones that require zero effort to activate.

New 2025 Amex Platinum Credits Most People Miss

The September 2025 refresh added several major new credits that most cardholders haven't fully activated yet. These are the ones that fly under the radar, either because they're brand new, quarterly instead of annual, or require a specific enrollment step.

Resy Dining Credit ($400/year)

This is the biggest new addition. You get up to $100 back per quarter when dining at any of the 10,000+ U.S. restaurants on Resy. No reservation required. Just pay the bill with your Platinum card at a Resy-affiliated restaurant. You do need to enroll through the Benefits Dashboard first.

Lululemon Credit ($300/year)

Up to $75 per quarter on lululemon purchases. This works on sale items, the "We Made Too Much" section, and even secondhand items. Stack it with Rakuten's shopping portal for bonus Membership Rewards points on top of the credit.

Uber One Membership ($120/year)

On top of the existing $200 in Uber Cash, the Platinum now also covers an Uber One membership (up to $120/year). Uber One gives you 6% credits back on rides, up to 10% off Uber Eats orders, and unlimited free delivery. This stacks with the Uber Cash for serious savings.

Oura Ring Credit ($200/year)

If you're into health tracking, the Platinum now reimburses up to $200 on purchases from the Oura Ring website. That covers most of the cost of a new ring, and enrollment is required.

The Rakuten Accelerator

This is the sleeper hack. Link your Amex Platinum to Rakuten and set your earnings to Membership Rewards points instead of cash back. On many purchases, Rakuten offers 3-10x bonus points through their portal, stacking on top of the card's base earning rate.

Amex Membership Rewards Transfer Partner Strategy

The single biggest unlock with the Amex Platinum isn't credits. It's the ability to transfer Membership Rewards points to 20+ airline and hotel partners at a 1:1 ratio. This is where $895 in annual spending becomes business class flights.

Is the Amex Platinum Worth $895?

The Amex Platinum isn't for everyone. If you travel fewer than three times a year and don't use streaming services, the math doesn't work. But for anyone who flies regularly, values lounge access, and is willing to spend 15 minutes enrolling in each credit at the start of the year, the card pays for itself twice over.

The key is treating it less like a credit card and more like a travel membership program that happens to come with a charge card attached. Activate every credit, learn the transfer partners, and the $895 becomes one of the best investments in your travel toolkit.

For informational purposes only, not financial or professional advice. Card offers and program terms are subject to change. This site may earn compensation through affiliate links at no cost to you.