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Review: the American Express Platinum credit card

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This is our review of the American Express Platinum credit card, also known as The Platinum Card from American Express.

Is Amex Platinum worth the £575 fee? We look at the card benefits below.

This review is part of our series of articles looking at the major UK loyalty credit cards and discussing whether or not they are worth applying for. These articles are linked to the relevant sections of the ‘Credit Cards‘ area of the menu bar. Our other UK airline and hotel credit card reviews can be found here.

Key link: American Express Platinum application page

Review American Express Platinum credit card

Key facts: £575 annual fee

The representative APR is 470.7% variable, including the annual fee.  The representative APR on purchases is 30.7% variable.

Reward credit cards generally have high interest rates and are not suitable for anyone who does not pay off their full balance each month. If you do not clear your balance, you should look for a non-rewards credit card with a low interest rate.

This article was updated on 1st September 2023, and all of the information is correct as of that date. Ignore the original publication date shown.

About The Platinum Card

The American Express Platinum credit card is issued directly by American Express.

Note that The Platinum Card is no longer a charge card. In August 2022 it swapped to being a standard credit card. This means that you no longer have to pay off your balance in full at the end of each month, although you will pay interest if you don’t.

What is The Platinum Card sign-up bonus?

You receive 30,000 Membership Rewards points when you spend £4,000 within three months.

Membership Rewards points can be converted 1 to 1 into Avios, so you would receive 30,000 Avios per points. Click here to see what other reward programmes are Membership Rewards transfer partners.

What are the rules for qualifying for the sign-up bonus?

The bonus is only available to customers who have not held a personal American Express card which issues Membership Rewards points in the previous 24 months.  This would include Green, Gold, Platinum and the American Express Rewards credit card.

You are OK if you currently or recently only had a British Airways, Marriott or Nectar American Express card.  All that matters is that you have not held a card offering Membership Rewards points.

You will receive the sign-up bonus if you have a Corporate or Business American Express card via your job and you receive Membership Rewards points from it.

You will definitely receive the bonus if you are only a supplementary cardholder on someone else’s American Express card. As far as Amex is concerned, that card belongs to the primarily cardholder and does not make you an ‘existing cardholder’.

If you do not qualify for the bonus, you can still apply.  You still receive the other card benefits, which are substantial.

Review The Platinum Card from American Express UK

Any other benefits with Amex Platinum?

The card has substantial benefits – easily the best package of any UK loyalty card.

  • You receive travel insurance for yourself and your family. You can insure one other family group by giving the head of that household the free supplementary card on your account. Some benefits require you to pay for your trip with an American Express card, but the core medical benefit is automatic. There is an age limit of 70 on the travel insurance.  For legal reasons, you need to opt-in to the travel insurance benefit by ticking the relevant box on the application form.
  • You receive full car hire insurance, with no requirement to pay with your Platinum card
  • You and your supplementary cardholder will each receive a Priority Pass card. This gets the cardholder plus a guest into 1,300 airport lounges across the world for free, including the Aspire lounge in Heathrow Terminal 5 reviewed here. As you get two Priority Pass cards, each of which allows a free guest, you can get a family of four into a lounge – as I do on a regular basis.
  • You can also access the pleasant Plaza Premium Lounge in Heathrow Terminal 5. This is not part of Priority Pass but American Express Platinum cardholders can get in, with a guest, by showing their Platinum card at the front desk. You can also access all other Plaza Premium lounges globally, including Heathrow Terminal 2, Heathrow Terminal 4, Edinburgh and Gatwick North.
  • You will receive permanent status in various hotel schemes:
  • Gold in Marriott Bonvoy
  • Premium in Radisson Rewards
  • Gold in Hilton Honors
  • Gold in MeliaRewards
  • Other benefits include Eurostar lounge access in London, Brussels and Paris whatever your class of travel. (The Amex website does not mention Brussels but it does work there.) You also receive lounge access when flying with Delta although any guests must pay $29.
  • You receive £150 per year to spend in over 160 UK restaurants. The spend can be cumulative and spread across different restaurants.
  • You receive £100 of Harvey Nichols credit each year. This is split into £50 from January to June and £50 from July to December. It is valid online or instore. There is no minimum spend – if you buy just £50 of items, you will not pay a penny.
  • There is also an exclusive hotel booking scheme called ‘Fine Hotels & Resorts’ which offers valuable additional benefits on your stays. If you are a regular visitor at five star hotels then you can recoup your entire membership fee via FHR bookings. I wrote more about Fine Hotels & Resorts here – for me, the guaranteed 4pm check-out on every stay is invaluable, especially for weekend breaks.

What is the annual fee on American Express Platinum?


You will receive a pro-rata refund of your annual fee if you cancel. Amex will be removing the ability to obtain a pro-rata refund during 2024 – the exact date is not yet confirmed – but until that point you can cancel for a refund of your unused months.

The Priority Pass airport lounge card is cancelled immediately if you close your Platinum card. However, the hotel status cards will continue to work until they expire naturally.

If you are self employed, remember that you could offset the card fee against tax as long as you used it exclusively for business-related expenses.

American Express Amex Platinum card review

What do I earn per £1 spent on the card?

You receive 1 Membership Rewards point per £1 spent on the card. This is equivalent to 1 Avios or other airline mile per £1 if you choose to transfer them.

What is a Membership Rewards point worth?

Anything from ‘quite a bit’ to ‘a lot’ is the answer!  This article looks at the best use of American Express Membership Rewards points and what they are worth.

Realistically, Membership Rewards points are worth at least 0.66p. This is because you can convert 1 point into 1.33 Nectar points via the new Avios partnership. 1.33 Nectar points are worth 0.66p when spent at Sainsbury’s, Argos or eBay.

I value airline miles at 0.75p – 1p each (this is conservative) so that is your valuation if you transfer to an airline programme.

Some of the hotel programmes also offer good value. You can choose from Hilton Honors, Marriott Bonvoy and Radisson Rewards.

Historically there were occasional transfer bonuses of 20%-30% to various airlines, including British Airways and Virgin Flying Club, although we have not seen any for the last few years.  If you see reports of American Express transfer bonuses to Avios, they are almost certainly discussing cards issued outside the UK.

You can take a look at the full list of Membership Rewards options here.

Is The Platinum Card a good card to use when travelling?

As Amex adds a 3% foreign exchange fee, you might want to get a separate free credit card to use abroad.

Unfortunately there are no credit cards with 0% foreign exchange fees worldwide which earn airline or hotel points. (The Virgin Atlantic credit cards have 0% FX fees in the Eurozone.)  One option is to get a free card from Currensea. Currensea is a simple but clever idea. You pay abroad with your Currensea Mastercard debit card. Currensea translates the cost to Sterling with just a 0.5% fee (83% less than Amex charges) and withdraws the money from your bank account. You can find out more about Currensea by clicking here. Currensea is free so there is no risk in giving it a try.

Is there a minimum income for Amex Platinum?

You can apply for the card with a minimum personal income of just £35,000.

Conclusion: Is Amex Platinum worth the £575 annual fee?

Whether or not the American Express Platinum fee represents value for money long-term depends on how many of the card benefits you will use. I have had a Platinum card since 1999 and can justify the cost based on how we use the travel benefits, especially the travel insurance, car hire insurance and the Fine Hotels & Resorts programme.

It is very easy to give the card a trial for a year to see if it works for you. The sign-up bonus of 30,000 Membership Rewards points plus £300 of dining credit and £100 of Harvey Nichols credit means that you can’t help but come out on top for the first year.

Remember that the sign-up bonus of 30,000 Membership Rewards points is the largest bonus of any personal points card on the market. It would convert into 30,000 Avios or Virgin Points for example. If you converted the Avios points into Nectar points, you would have £200-worth.

For on-going spending, 1 point per £1 is not outstanding. A lot of American Express Platinum cardholders keep the card for its benefits but put their spending on other cards.

The application form for The Platinum Card can be found here.

(Want to earn more miles and points from credit cards?  Click here to visit our dedicated airline and hotel travel credit cards page or use the ‘Credit Cards’ link in the menu bar at the top of the page.)

Disclaimer: Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points. The site discusses products offered by lenders but is not a lender itself. Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority to act as an independent credit broker.

Comments (72)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • The Streets says:

    The benefits of waking up in Asia is you can spot minor errors first

    What is The Platinum Card sign-up bonus?

    You receive 30,000 Membership Rewards points when you spend £4,000 within three months.

    Membership Rewards points can be converted 1 to 1 into Avios, so you would receive 60,000 Avios points.

    • Andrew J says:

      This is the problem with keep recycling old articles – specifics which relate to signup bonuses which vary need to be amended.

  • Jonathan says:

    Is the card available in the Republic of Ireland, and can applicants there be referred by a UK resident ?

  • David says:

    I bought QR J tickets through the Platinum Travel website and saved 10% on the QR website (about £320) and earned Membership Reward points for the £s spent and the same amount as a bonus, so the £320 saved (plus points) go a long way to helping me justify the £575 card fee without considering the other benefits

  • JimBurgessHill says:

    There is another credit card with zero foreign exchange fee that is avios earning – Capital On Tap. I use mine solely for foreign travel.

    • Rob says:

      Hopefully it’s all business travel or CoT will be closing you down ……

  • SB says:

    Not sure why it says it is only a credit card.

    I have this offer available on my Gold card. Maybe it’s credit only option for new new applicants and not charge card upgrades.

  • Jess says:

    I thought the travel insurance covered all supplementary card holders not just one.

    • Rob says:

      You only get one free supp now.

    • Andrew J says:

      But if you’re on a legacy chargecard, you’ll still get the travel insurance for all the supps.

      • Jess says:

        Thanks Andrew. That is good to know as I have the charge card

  • Paul says:

    I have held my PC since 2006. In that time the fee has doubled and benefits enhanced away. Sadly this card is shadow of its former self and service from American Express is now very poor. I keep it as I still travel and the insurance remains a key benefit. If it were not for the dining credit that offsets the fee I am not sure I would.
    I can count on my fingers the times I have used priority pass in 17 years.
    The loss of the free BAPP was a serious blow. and In recent days I have tried to use the International airline programme but the fares were hundreds of £ higher than going direct to the airline. The travel website limits connection options.
    The agent I spoke with and who provided me with a quote for £11,800 for a flight that was £1,500 was completely out of their depth and should have been no where near a customer. Amex suffer from staffing issues as many others and often you get Manila who are just hopeless.
    The card has many attractions but unless you use the dining credit, Harvey Nics credit and travel frequently it’s not great value for money!

    • Andrew J says:

      Apart from the free BAPP, which I do miss too, I’m not sure what benefits have been “enhanced away”? The HN and dining credits are clear additions which weren’t there pre-2020 and provide tangible value. With those £400 of benefits, plus the travel insurance it’s an easy break even product for me before I even consider the PP which I’ll never use as I don’t fly economy.

      • Rob says:

        Only AddLee credit has gone and that became useless post covid.

        You are going back a long way if you are counting loss of Shangri La, Taj and Accor status, and Hilton wasn’t permanent then. Accor was top tier, admittedly.

        This is the first year when most will realistically be able to use their overseas £150 dining credit so net fee should be dropping for many.

        • Andrew J says:

          I was pleasantly surprised to see all the Raffles Singapore restaurants were on the list and I’d already booked afternoon tea there, so it was effectively free money as I had planned to spend the £150 there anyway.

        • Paul says:

          That’s all true, but the loss of Accor was keenly felt as I used them all the time as they were great for families. In particular the property in Bali with the most fabulous family suites……That was, till I found the Intercontinental.

          I suppose my main grip with Platinum now is the service. It was once top notch and I knew if I had a problem it would just be dealt with. That is just not the case anymore

        • FlightDoctor says:

          I took out the recent Ibis Business package at £119 to give me Accor Gold until the end of next year. Already had a room upgrade at a Novotel. Also just status matched my Hilton Gold (from the AMEX Plat) to Best Western Diamond Plus.

          • Richard Peters says:

            On Rob’s reccomendation like you I took out an Ibis Business package. 4 stays so far and always booked a basic romm and upgraded to a suite. Happy Days.

  • Mark says:

    Small point, but the Harvey Nichols and dine out credits only get applied after your first bill is generated and you need to select them as an offer when they appear. If you get your new card and immediately go out for dinner at an Ivy Cafe expecting an automatic credit you will be disappointed!

    • BSI1978 says:

      I’d argue you’d be disappointed either way….


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