Amex Gold vs. Platinum 2024: Which Is Best for You?
Updated March 5, 2024 at 1:39 pm
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.
Methodology Understanding the value of cash back is simple, but valuing airline miles or points redeemable for travel requires digging a bit deeper. At Newsweek, we’ve developed a common language to talk about the value of points and miles: our valuations.
Our valuations translate points into dollars and cents in a way that reflects reality. They are based on actual data across a balance of accessible redemption options, not just the aspirational first and business class redemptions that require a PhD in miles and points to book. The upshot is that our valuations help you understand the actual value you can easily get from your miles and points.
One glitters (when it comes to travel) and the other sets the gold standard when it comes to earning rewards.
Expert Take: The American Express® Gold Card is ideal for consumers seeking a card that rewards everyday spending and provides practical perks. The Platinum Card® from American Express is loaded with exceptional perks that are best suited to frequent travelers.
Amex Gold
The Amex Gold Card prioritizes restaurants worldwide and U.S. supermarket spending with generous rewards on these categories. It lacks meaningful travel benefits but offers enough practical benefits and recurring dining credits to offset the $250 annual fee.
Pros
- Generous rewards on travel and everyday spending: The Amex Gold Card offers generous rewards at restaurants worldwide, at U.S. supermarkets and on eligible flight purchases.
- Monthly dining credits offset the annual fee: Cardholders can receive a monthly dining credit up to $10 at select restaurants (enrollment required) and another up to $10 each month in Uber Cash for Uber Eats orders or Uber rides in the United States, largely offsetting the $250 annual fee.
- Practical travel benefits: Amex Gold cardholders receive valuable benefits like access to hotel discounts and perks through The Hotel Collection, travel insurance and no foreign transaction fees (see rates and fees).
Cons
- High annual fee: The card’s $250 annual fee is above average for a rewards card and might be difficult for some consumers to justify.
- Relatively small welcome bonus: The Amex Gold Card’s welcome bonus isn’t the highest public offer to date, which is not ideal in light of Amex’s once-per-lifetime rule (more on that later).
- Lacks comprehensive travel protections: The Amex Gold only offers baggage insurance plan*, secondary car rental loss and damage insurance* and trip delay insurance*. This isn’t as comprehensive as other rewards credit cards with lower annual fees.
Amex Platinum
The American Express Platinum Card is a premium credit card offering a wide range of luxury benefits. It’s designed for individuals who travel frequently and seek to improve their experience via elevated rewards, premium travel insurance and luxury perks like lounge access.
Pros
- Exceptional travel perks: The card features valuable travel perks, including hotel elite status, travel statement credits and best-in-class lounge benefits.
- Valuable rewards: The Amex Platinum earns Membership Rewards points, one of the most valuable and flexible rewards currencies.
- Comprehensive travel protections: Amex Platinum cardholders enjoy some of the best travel protections, including trip delay coverage, trip cancellation and interruption insurance and secondary rental car insurance.
Cons
- High annual fee: At $695, the Amex Platinum Card has one of the highest annual fees, which may be hard to justify for occasional travelers who can’t use its numerous statement credits.
- Low rewards potential: The Amex Platinum doesn’t offer meaningful rewards outside of prepaid hotel and direct flight bookings.
- Subject to Amex once-per-lifetime rule: The card is subject to Amex’s once-per-lifetime rule, meaning you can only earn the welcome bonus once.
Vault’s Viewpoint on the Amex Gold vs. Amex Platinum
The American Express Gold and Amex Platinum cards offer impressive benefits but cater to slightly different demographics. The Gold card is ideal for those seeking a card for daily life—one that rewards common spending categories like restaurants worldwide and U.S. supermarket spending.
Amex Gold credit card holders earn high rewards at restaurants worldwide (plus takeout and delivery in the U.S.) and at U.S. supermarkets. Cardholders also earn points on flights booked directly with airlines or through Amex Travel, providing ample opportunity to maximize everyday expenses and travel spending.
The card’s monthly Uber Cash and dining credits can help offset most of the $250 annual fee. Cardholders also save money on purchases made abroad given there’s no foreign transaction fees and a $100 experience credit on The Hotel Collection through American Express Travel (two-night minimum stay). The card lacks some of the more luxurious travel perks and protections other top travel credit cards offer, but that’s where the Amex Platinum comes in. The two cards are often paired together for an unbeatable combination of luxury and practicality.
If you’re not ready to splurge on two annual fees, the Amex Platinum is a better choice for frequent travelers who want to earn high rewards on travel and access benefits that improve their travel experience. The Amex Platinum’s built-in access to the Global Lounge Collection provides entry to the most comprehensive lounge network, including over 1,400 Priority Pass lounges, Centurion Lounges, Delta Sky Clubs and more. Plus, cardholders get over $1,500 worth of value across travel and entertainment credits and receive complimentary Gold elite status with both Hilton Honors and Marriott Bonvoy.
“I often product-change between these two cards to meet my changing travel needs and spending habits. The Amex Gold card is ideal for maximizing rewards on everyday purchases, while the Amex Platinum is better suited to those seeking premium travel benefits.”
— Ariana Arghandewal
Amex Gold Highlights
Earning Rewards With the Amex Gold
The Amex Gold Card makes it possible to earn rewards quickly on both everyday purchases and travel expenses. Cardholders pay no foreign transaction fees on purchases originating abroad, providing an added incentive to make this their go-to card. Points can be redeemed for the highest value via American Express’ 21 different transfer partners.
- 4X points at restaurants worldwide, plus on takeout and delivery in the U.S.
- 4X points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X points)
- 3X points on flights booked directly with airlines or on AmexTravel.com
- 1X points on other eligible purchases
Other Benefits of the Amex Gold
- Up to $120 in annual dining credit: Monthly up to $10 statement credit valid at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations (enrollment required).
- Up to $120 annual Uber Cash: Automatic $10 monthly Uber Cash credit valid on Uber rides and Uber Eats purchases in the United States.
- The Hotel Collection: Get elite-style perks, including a $100 experience credit and space-available room upgrades when you arrive at over 700 hotels worldwide when you book a two-night minimum stay with The Hotel Collection through American Express Travel.
- Travel insurance: Enjoy a baggage insurance plan*, secondary car rental loss and damage insurance* and trip delay insurance*.
- No foreign transaction fees: You won’t be charged fees when using your Amex Gold Card on purchases originating abroad.
For more on the benefits we examine, read our Amex Gold Card review.
Is the Amex Gold Worth It?
The Amex Gold Card is worth it if you frequently dine out and can make use of the combined up to $240 in annual credits. The card can also be worthwhile for those who spend substantially on the card’s rewards rates on dining at restaurants worldwide and U.S. supermarkets as these are among the highest.
Cardholders earn valuable Amex Membership Rewards points which are worth significantly more when redeemed for luxury travel experiences via one of 21 transfer partners. If you know how to maximize these partners for high-value redemptions, the Amex Gold (and the points you can earn with it) can be worth the $250 annual fee by our evaluation.
Amex Platinum Highlights
Earning Rewards With the Amex Platinum
The Amex Platinum Card earns the most rewards on select travel purchases, making it ideal for frequent travelers. While cardholders can earn up to 5X points on eligible travel, these categories are restricted, imposing spending caps and requiring direct bookings only. Still, the card can be quite rewarding for those who spend significant amounts on travel.
- 5X Membership Rewards points on flights booked directly with airlines or through American Express Travel (on up to $500,000 on these purchases per calendar year, then 1X)
- 5X points on eligible prepaid hotels booked on American Express Travel
- 1X points on all other eligible purchases
Other Benefits of the Amex Platinum
- Over $1,500 in Platinum value, including travel and entertainment credits: Credits include up to $300 in statement credits each year when you pay for your Equinox membership, up to $200 back in statement credits for hotels each year on select prepaid hotel bookings through American Express Travel, up to $200 in airline fee credits per calendar year after incidental fees are charged by select airline of your choice, up to $200 Uber Cash (disbursed monthly plus a bonus in December) and more.
- Global Lounge Collection: Get access to over 1,400 airport lounges worldwide, including Priority Pass lounges, Amex Centurion Lounges, Lufthansa, Delta Sky Club, Plaza Premium and more.
- Hotel benefits: Cardholders get special perks at over 1,500 participating hotels worldwide when you book Fine Hotels + Resorts through American Express Travel. Benefits vary but generally include complimentary breakfast, on-site credits, early check-in, late checkout and room upgrades when available.
- Elite status: Upgrade to Gold elite status with Hilton Honors and Marriott Bonvoy. Plus, get Avis Preferred, Hertz Gold Plus Rewards, National Car Rental Emerald Club status.
- Travel insurance: Enjoy secondary car rental loss and damage insurance*, trip delay insurance*, trip cancellation and interruption insurance* and much more.
Read our Amex Platinum Card review for more of the benefits we go over.
Is the Amex Platinum Worth It?
The Amex Platinum Card can be worth it for those who can fully utilize its annual statement credits, elite status upgrades, lounge access, hotel benefits and elevated rewards on travel spending.
For frequent travelers who value luxury perks and exclusive experiences, the Platinum Card can offer tremendous value exceeding the $695 annual fee. However, the card can be costly for those who don’t use the annual statement credits or travel perks enough. The limited category bonuses can also be a negative for consumers whose spending falls primarily outside of travel expenses.
Who Is the Amex Gold Best for?
The Amex Gold card is best for consumers who spend significantly on restaurants worldwide, U.S. supermarket purchases and flights booked directly with airlines or on AmexTravel.com and want to earn maximum rewards on these categories. If you can earn lots of rewards in these categories and utilize the statement credits for dining and Uber Cash, it can be worth the annual fee. The Amex Gold isn’t best for those seeking elevated rewards on general travel spending.
Who Is the Amex Platinum Best for?
The Amex Platinum is best for travelers who value luxury travel perks like airport lounge access and hotel elite status. If you can maximize the card’s various statement credits every year, it could be worth the high annual fee. It’s not ideal for those whose spending habits fall outside the card’s bonus categories and those who won’t take advantage of many of its statement credits and other benefits.
Amex Gold vs. Platinum Differences
| Amex Gold | Amex Platinum | |
| Welcome bonus | Earn 60,000 Membership Rewards points after spending $6,000 in the first six months of card membership | Earn 80,000 Membership Rewards points after spending $8,000 in the first six months of card membership |
| Rewards rate | Earns high rewards on eligible everyday spending | Earns high rewards on eligible travel spending |
| Annual statement credits | Up to $240 in credits annually with Uber Cash and statement credits for select dining merchants | Over $1,500 in value through statement credits and merchant offers toward travel, entertainment and retail |
| Annual fee | $250 | $695 |
Who Should Consider an Alternative?
The Amex Gold and Platinum cards are great for earning rewards and enhancing travel, but not everyone will qualify for these cards or see value in their offerings. The annual fees might deter budget-conscious consumers, while the rewards rates are meant to reward specific demographics. If you want a card with a more simplified rewards structure and a lower annual fee, the Capital One Venture Rewards Credit Card is an excellent alternative to both cards.
The Venture Card earns an unlimited 2X miles on all spending, plus unlimited 5X miles on hotels and rental cars booked through Capital One Travel. The card has a much lower annual fee of $95 and provides a handful of benefits offered by the Amex Platinum. Cardholders receive an up to $100 Global Entry or TSA Precheck application fee credit every four years, no foreign transaction fees and Hertz Five Star status. Similar to the Amex Hotel Collection credit, Venture cardholders receive a $50 experience credit and room upgrade (when available) when booking Lifestyle Collection properties through Capital One Travel.
*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
Editorial Note: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, hotel, airline or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. We may earn a commission from partner links on Newsweek, but commissions do not affect our editors’ opinions or evaluations.
