In 2025, the American Express Platinum Card® ( application ) went through a major refresh that pushed the $895 annual fee ( Rates & Fees ) to record territory among premium cards — and yet I’m having an easier time justifying it than ever before. That sounds backwards, so it’s worth explaining precisely.

The Platinum has always been a “coupon book” card, valuable but fiddly. What changed with the refresh is that the credits doing the heavy lifting are now ones I can max with almost no effort, which is a different thing from a card you can justify if you try hard.

So rather than re-listing every perk (the full Amex Platinum Card review covers all of them), this is my honest accounting of which credits I actually treat as good as cash, which I value well below face value, and why this is a card to hold for the perks rather than spend on.

Link: Learn more about the American Express Platinum Card®

My running tally on the refreshed Amex Platinum

The welcome offer (and why it’s not the main story)

Earning: a…