Would you pay $895 annually for a travel credit card? The idea might seem crazy, but as a frequent traveler, I think it’s worth it.
The American Express Platinum card is one of the most premium consumer credit cards in today’s market. For years, Amex charged $695 annually for the card, but recently increased the price to $895 following a major refresh in September.
For the most part, the refresh was well received. In the weeks leading up to it, cardholders were concerned it might diminish perks and lessen the value of the card. However, American Express actually increased the number of perks offered… and quite substantially.
For example, the annual $200 hotel credit was increased to a $300 credit offered biannually, and two new quarterly credits were launched — $75 at Lululemon and $100 in dining credits through restaurants on Resy.
In the months since the refresh announcement, I’ve gone back and forth about whether I should keep the card or finally say goodbye to the Amex Platinum. At $895, the fee is undeniably steep for a credit card. My Chase Sapphire Preferred, for instance, costs just $95 per year and has competitive mileage accrual rates.
Yet after carefully considering the credit card’s benefits (both old and new), I’ve decided to keep the American Express Platinum in my wallet in 2026.
From the luxury hotel perks to airline credits, here’s why I’m not cancelling my card this year.
To me, lounge access is still worth the annual fee alone
If there’s one benefit of the American Express Platinum card that’s worth its weight in gold, it’s the lounge access.
Cardholders receive access to over 1,500 airport lounges around the world, including Amex Centurion Lounges, Delta Sky Clubs, Escape Lounges, and Priority Pass lounges.
I fly multiple times per month, and because my home airport is mostly regional, I almost always have layovers to get to my destination. Lounge access is a godsend during layovers; I’ve visited dozens of lounges this year alone.
Of course, not all lounges provide the same experience. Some lounges, such as the LAX Sky Club, offer an outdoor patio and private office pods. The Centurion Lounge in Seattle is one of my favorites, as it offers a made-to-order coffee bar with complimentary handcrafted beverages.
Others are much more basic. Many Priority Pass lounges (at least in the U.S.) are small and lack diverse food options.
Even so, lounges offer complimentary food and drinks, and many provide access to showers. I estimate I save around $20 each time I don’t need to buy a meal on a layover, so I easily get hundreds of dollars in value from this perk alone.
The occasional waitlist to enter a lounge can be cumbersome, but having access to a meal and shower after long flights is a game-changer.
The lounge access perk is still a must-have for me, and it’s the main reason I’m keeping the Amex Platinum in my wallet.
With $600 in hotel credits, the Amex Platinum gives me a good excuse for a luxury getaway
One major change of the Amex Platinum refresh has been the increase in hotel credits from $200 to $600.
Previously, cardholders received an annual $200 credit for hotel stays booked through American Express’ Fine Hotels and Resorts or Hotel Collection programs. After the refresh, this is now a $300 credit offered biannually.
For me, the increased credit is a major benefit. Before the refresh, I found it challenging to make use of the $200 credit. When I booked a one-night staycation at the Hyatt Regency Lake Tahoe last year, I had to shell out around $100 extra to cover the room.
I hated spending extra money to use my credit, even if I did love my winter staycation.
Luckily, with $300, my credit goes farther on hotel stays around the world.
This October, for example, I booked a night at Regent Taipei. The $300 credit covered my entire stay, and it also came with a few other perks, including a $150 spa credit, breakfast for two guests, and a guaranteed 4 p.m. check-out.
I love having any excuse to treat myself on vacation, and the increased credit helps justify keeping the Amex Platinum.
I always use the $200 Uber credit and $200 airline credit, which cover almost half of the annual fee
Two benefits that did not change during the Amex Platinum refresh are the $200 Uber credit and $200 airline credit. Just by using these benefits alone, I receive $400 in value from the card.
Each month, cardholders receive $15 in Uber credit ($35 in December), and this credit can be used for Uber rides or Uber Eats.
Most months, I find myself booking at least one Uber ride, especially if I need to get to or from the airport. On the off chance I don’t use Uber during the month, I happily use the credit for my favorite Thai restaurant on Uber Eats.
Likewise, the airline credit covers purchases like checked bags, in-flight purchases, and seat selection fees. With some lucrative spending, you can even get select flights reimbursed through the credit.
These purchases are things I would be buying anyway, so buying them through my Amex Platinum helps me “subtract” from the annual fee.
I love the new $400 Resy credit — it’s perfect for date nights
A major upgrade to the Amex Platinum is the $400 Resy credit, offered at $100 per quarter.
Resy is a restaurant reservation platform, and when you pay with your Amex Platinum card at a restaurant on the platform, you’ll receive a $100 dining credit off your purchase.
For the most part, restaurants on Resy are more upscale than your average mom-and-pop diner. This makes them perfect for celebrating a special occasion, whether a birthday, anniversary, or promotion.
I love this new credit because it’s a great way to enjoy a high-quality meal at a steep discount. Recently, my boyfriend and I enjoyed a decadent Italian dinner with cocktails, an appetizer, and main courses. We only spent $12 out of pocket after the credit.
Because the benefit is offered each quarter, this makes the new credit a major perk in my opinion.
The downside of this perk is the availability of Resy restaurants. If you live in a small town, you may not have many restaurants on the platform in your area. Luckily, there are nearly a dozen Resy restaurants near my city. This gives plenty of options for enjoying all types of cuisines.
Other perks offer value, too, but they’re not all must-haves for me
Not all Amex Platinum perks are travel-related. Outside of the aforementioned perks above, I don’t find most other perks to be must-haves.
The new quarterly $75 Lululemon credit is a nice plus, but it’s far from a necessity for me. I’ll be sure to spend $75 quarterly to grab a few “free” items, but I likely wouldn’t be making these purchases without the perk.
Likewise, the $50 biannual Saks credit is virtually useless. Items under $50 are extremely limited. I end up purchasing random items, like glassware or cooking pans, to at least get some use out of the credit.
The new $200 annual Oura Ring credit provides little value for my spending style. Most rings on the website cost over $200, and the credit doesn’t cover the ring’s monthly subscription fee. I hate spending extra money just to utilize a perk, so I’ll likely skip this one.
However, I do still enjoy the $300 entertainment credit, and use it for a monthly subscription to YouTube Premium. Previously, I used it for Disney+, but I hardly utilized the platform. Now, my YouTube Premium subscription covers ad-free videos and YouTube Music, so I don’t need to spend even more on a Spotify subscription.
I’m keeping the card in 2026, but some cardholders might not think it’s worth it
I’ll continue to spend $895 per year on the Amex Platinum, but some cardholders might not find enough value in the card with the increased fee.
For me, I still think perks like lounge access make the card worth the cost. After traveling with lounge access for several years, I just can’t imagine going back to waiting in chaotic airport terminals with no included food or drinks.
I’ll likely be traveling just as much in 2026 as I have in previous years. My Uber credit, airline credit, Resy credit, and hotel credits will be used without much hassle.
There are, arguably, still some downsides to the card. Sometimes, lounge options are minimal at airports (I’m looking at you, O’Hare), and available lounges can be crowded. If you’re hoping for a quiet, private lounge experience, this might not be the card for you.
Amex offers may or may not offer value to cardholders, either. Occasionally, I snag deals through offers, like $50 off a $200 airline purchase or a discount on HBO Max. These offers can be random, however. Not all cardholders receive the same offers, and targeted offers might not appeal to your spending style.
My annual fee date is approaching soon, and I’ll be keeping the card this coming year. Despite the fee, I think holding the Amex Platinum gives me more benefits than downsides. It is a must-have for frequent travelers like myself.
