Is the Amex Platinum still worth $895 a year?
At renewal there's no welcome bonus left, just the fee against what the card earns and the credits you actually use. Here's that renewal year for three spending profiles, compared with downgrading or switching to a no-fee card. Terms verified Oct 5, 2026.
| Profile | Amex Platinum after fee | Best alternative | Pays | Verdict |
|---|---|---|---|---|
| Everyday spender About $2,000 a month, mostly groceries and errands, one trip a year. | −$506 | Wells Fargo Autograph | $535 | Cancel or downgrade Keep only if lounge access, Global Entry credit and elite status are worth over $1,041 a year to you. |
| Balanced About $3,500 a month with a few trips a year and regular dining out. | −$85 | Wells Fargo Autograph | $1,055 | Cancel or downgrade Keep only if lounge access, Global Entry credit and elite status are worth over $1,140 a year to you. |
| Frequent traveler About $5,000 a month, heavy on flights, hotels and restaurants, some trips abroad. | $509 | Wells Fargo Autograph | $1,782 | Cancel or downgrade Keep only if lounge access, Global Entry credit and elite status are worth over $1,273 a year to you. |
Profiles use typed totals, so merchant credits (rideshare, delivery, streaming) aren't counted here.Answer a few questions in the calculator below and the verdict updates.
The credits, and what it takes to use them
Up to $2,994 a year on paper. They only offset the fee to the extent you'd have spent that money anyway.
| Credit | How it works |
|---|---|
| $200 Uber Cash ($15 a month, $35 in December) | Add the Platinum Card to your Uber account; $15 Uber Cash loads each month plus an extra $20 in December, for U.S. Uber rides and Uber Eats orders paid with an Amex card. Unused Uber Cash does not roll over to the next month. Basic Card Member only. Since 2026-05-07, Uber VIP status was replaced by 'Signature Support for Amex'. Needs enrollment. |
| $120 Uber One membership credit | Statement credits of up to $120 per calendar year on an auto-renewing Uber One membership (monthly or annual) charged to the card. U.S. Uber accounts only. Free trials and fees paid with Uber Cash do not qualify. |
| $200 airline incidental fee credit | Select one qualifying airline (Alaska, American, Delta, Hawaiian, JetBlue, Southwest, Spirit, United). Covers incidental fees such as checked bags, seat/in-flight purchases, change fees and lounge day passes, not airfare itself, so card statements cannot reliably show eligible spend. Calendar year. Needs enrollment. |
| $600 hotel credit ($300 semi-annually) on Fine Hotels + Resorts / The Hotel Collection | Up to $300 in statement credits January-June and again July-December on prepaid Fine Hotels + Resorts or The Hotel Collection bookings made through American Express Travel. The Hotel Collection requires a minimum two-night stay. Book through the issuer's travel site. |
| $400 Resy credit ($100 a quarter) | Up to $100 each calendar quarter on eligible purchases at U.S. restaurants that offer reservations on Resy (and Resy/Resy Pay purchases). Enrollment required. Needs enrollment. |
| $300 digital entertainment credit ($25 a month) | Eligible merchants (purchased directly, U.S. only): Disney+, Disney+ bundles, ESPN streaming services, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium and YouTube TV. Enrollment required. Needs enrollment. |
| $300 lululemon credit ($75 a quarter) | U.S. lululemon stores (excluding outlets, lululemon Studio, Like New, warehouse and event locations), lululemon.com and the lululemon app. No gift cards. Enrollment required. Needs enrollment. |
| Walmart+ monthly membership credit (up to $12.95 a month) | Covers one monthly Walmart+ membership fee (up to $12.95 plus applicable taxes) each month, about $155 a year. Annual Walmart+ memberships and Plus Ups do not qualify. |
| $219 CLEAR+ credit | Up to $219 per calendar year on an auto-renewing CLEAR+ membership (raised from $209 on 2026-07-01 when CLEAR+ went to $219). |
| $200 Oura Ring credit | Oura Ring hardware bought at ouraring.com (U.S. site, shipped in the U.S.); excludes Oura membership, accessories and third-party retailers. Calendar year. Enrollment required. Needs enrollment. |
| $300 Equinox credit | Up to $300 per calendar year. You must check eligibility through the Amex benefits link, and the membership auto-renews. Needs enrollment. |
Run it on your own spending
The calculator needs JavaScript. The table above is precomputed.
The calculator needs JavaScript. The table above is precomputed.
Downgrade instead of closing: American Express usually lets you product-change to the Amex Gold or Amex Green, which keeps your account age and credit line. Ask before you cancel.
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