4 Little-Known Perks of the Amex Platinum Card

The Platinum Card® from American Express looks expensive on the surface, with a $695 annual fee plus an additional $195 per authorized user (see rates and fees). And to be fair, this makes it one of the most expensive high-end cards you can apply for.

However, you might be surprised at how much value the Amex Platinum Card can offer to certain members. Some of its benefits are well-known and are rather common among high-end credit cards, such as airport lounge access, while others are unique and potentially valuable.

Apply now for the The Platinum Card® from American Express.

Little-known perks of the Amex Platinum Card

In full disclosure, I have The Platinum Card® from American Express in my wallet as I type this, as the value I get from the card more than justifies its cost. And as I mentioned, perks like airport lounge access are quite common among high-end cards with annual fees in the hundreds of dollars. But there are some other benefits of the card that you might find extremely valuable.

1. Spending credits

The Platinum Card® from American Express offers statement credits for certain types of spending that can really add up. Just to name a few, you can get $200 in annual Uber rides (or Uber Eats), $200 towards certain prepaid hotel bookings, $20 per month toward eligible streaming services, a free Walmart+ membership, $200 per year toward incidentals on the airline of your choice, and $300 towards an Equinox fitness membership. Terms apply; select enrollment may be required. This isn't even the full list. These statement credits can easily be worth over $1,000 per year and can justify the annual fee all by themselves if you take advantage.

Apply now for the The Platinum Card® from American Express.

2. Elite status

You'll automatically get elite status including Marriott Bonvoy™ Gold Elite Status and Hilton Honors Gold Status, as well as with some rental car companies. Terms apply. This can get you a variety of perks, such as room upgrades and late check-outs, depending on the situation.

Apply now for the The Platinum Card® from American Express.

3. Travel protections

The Amex Platinum Card offers car rental insurance, trip delay insurance that can reimburse you for as much as $500 per trip, as well as trip cancellation and interruption insurance of up to $10,000 per trip. Terms apply. These travel benefits are things you hope you'll never have to use, but they can be extremely valuable if you need them.

Apply now for the The Platinum Card® from American Express.

4. Purchase protections

The Platinum Card® from American Express offers return protection of as much as $300 per item ($1,000 per year) if the seller won't take something back within 90 days from purchase. There's also a purchase protection benefit, which covers things that get damaged, stolen, or lost within 90 days of the purchase date, as well as extended warranty protection that adds up to an additional year to the manufacturer's warranty on qualifying purchases. Terms apply.

Apply now for the The Platinum Card® from American Express.

More value than you might think

This isn't even an exhaustive list of benefits. The Platinum Card® from American Express card members get a free CLEAR Plus membership to get through airport security faster, as well as Global Dining Access through Resy that unlocks exclusive dining reservations. And many of the status and access benefits extend to additional cardholders on the same account. Terms apply.

Apply now for the The Platinum Card® from American Express.

To be sure, for many cardholders, being able to access airport lounges (including the excellent Centurion Lounges) means it's worth having The Platinum Card® from American Express. But that isn't even the bulk of the card's value, and members who take advantage of all of the perks can easily get more than double the annual fee in value.