3 Reasons to Get an Amex Platinum Card Instead of an Amex Gold Card

Few annual passes cost more than the Platinum Card® from American Express. In fact, with a starting price of $695 (see rates and fees), only two cards really beat it in price: American Express’s Centurion Card ($5,000) and Mastercard’s Gold Card ($995).

This annual fee may force you to ditch the card or opt for its less expensive alternative, the American Express® Gold Card. This card also has a significant annual fee ($325, see Rates and Fees), but its earning rates at U.S. supermarkets and restaurants worldwide are much higher (terms apply).

Of course, both Amex cards have a place in the right person’s wallet. However, if you’re making a decision based on the annual fee alone, I think it would be a mistake to choose the Amex gold card over the platinum card. Here’s why.

1. The Amex Platinum card costs more than twice what it costs.

The Amex Gold Card can offer you up to $424 in annual spending credits. These break down into $120 in annual Uber Cash credits ($120), $84 in annual Dunkin’ credits, $100 in annual Resy credits, and $120 in annual dining credits at participating restaurants ( terms and conditions apply). If you use all of those credits, your card will essentially pay you $99.

However, the Amex Platinum card can offer you more than $1,500. This is more than double the annual fee. These benefits are divided into the following:

• $200 Hotel Credit: Each year, select hotel reservations through American Express Travel earn $200 in statement credits.
• $240 Digital Entertainment Credit: $20 monthly credits on eligible subscriptions such as Disney+, ESPN+, Hulu, Peacock, New York TimesAnd Wall Street Journal.
• $200 in Uber Cash: $15/month in Uber Cash for travel in the US, plus a $20 bonus in December.
• $200 airline fee credit: $200 each calendar year to cover incidentals such as in-flight meals on an eligible airline of your choice.
• $199 CLEAR Plus Credit: Up to $199 in annual statement credits toward the cost of a CLEAR Plus membership, excluding applicable taxes and fees.
• $100 Saks Fifth Avenue Credit. Each year in the form of a $100 credit to Saks Fifth Avenue or saks.com.
• $155 Walmart+ Credit: $12.95 monthly credit after paying for a monthly Walmart+ membership.
• $300 Equinox Credit: Up to $300 per year for a digital subscription or Equinox Club membership.
• $100 credit towards Global Entry or TSA PreCheck. You can receive a statement every four years when applying for Global Entry ($100) or every 4.5 years when applying for a five-year TSA PreCheck membership (up to $85).
• Terms apply; Registration may be required.

If you took advantage of all these benefits, your card would pay $999 per year after the annual fee. Let that sink in for a second.

2. Privileges extend beyond food.

The Amex Gold Card has a clearly defined audience: foodies who love to travel (or travelers who love to eat out). If you don’t travel often or have a big budget for eating out, the card won’t help you.

The Amex Platinum Card is also a travel card. But its benefits extend beyond restaurants, Dunkin’ and Uber Eats. As noted above, there are several loans here: from entertainment to shopping. It also provides free access to more than 1,400 airport lounges (conditions apply), which is not included with the Amex Gold Card. Although I wouldn’t say this card has anything going for it. everyits target audience does seem broader than that of the Amex Gold Card.

3. Better welcome offer

The Amex Platinum Card offers one of the best welcome offers for a personal card. You can earn 80,000 Membership Rewards® Points Membership Rewards after spending $8,000 on purchases in the first 6 months (terms apply). While I’ve seen larger welcome offers on this card (up to 175,000 points), 80,000 is the standard.

The Amex Gold Card doesn’t have a bad welcome offer. In fact, its offer is also one of the best for a rewards card. You can earn 60,000 points + up to $100 back when you spend $6,000 in the first 6 months (terms apply).

Finally, don’t take this as a criticism of the Amex Gold Card. This is a great pass that deserves a place in any foodie’s wallet. In fact, it may be better for you than the Amex Platinum Card, especially if you prefer food credits. When all is said and done, get the card that will save you the most money. This could be a free credit card or one of the exclusive American Express cards.