The American Express® Gold Card and the American Express Platinum Card® have reputations as two of the best high-end cards on the market. The names alone scream “luxury.”
These cards are very different, though — and one of them is much better, in my opinion. Still, the best choice for you depends on your spending, and some people may even want to get both cards.
Let’s dive into the details and see which card comes out on top.
American Express® Gold Card
The American Express® Gold Card offers generous rewards for dining and groceries, but its annual fee is only worth it for some users.
Annual fee: $325 (see rates and fees)
Welcome offer: You may be eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Top earning rates:
- 4X points on restaurants worldwide, on up to $50,000 in purchases per calendar year (then 1X); and at US supermarkets, on up to $25,000 in purchases per calendar year (then 1X)
- 3X points on flights booked directly with airlines or on AmexTravel.com
Other benefits:
- $10 per month in Uber Cash
- $84 Dunkin’ credit: up to $7 in monthly statement credits for purchases at U.S. Dunkin’ locations
- $100 Resy credit: up to $50 in semiannual statement credits for purchases at U.S. Resy restaurants
- $120 dining credit: up to $10 in monthly statement credits for purchases at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys
- Terms apply; enrollment may be required
Is the Amex Gold Card worth it?
The Amex Gold Card is worth it if you:
- Take full advantage of a couple of credits
- Have very high grocery and dining spending
- Transfer your Membership Rewards points to Amex’s hotel and airline partners for more value
If you do at least two of the above, then the Amex Gold Card can easily outclass other grocery and dining cards. If not, then you’re better off using a card with a lower (or no) annual fee.
Apply and find out if you are eligible for as high as 100,000 Membership Rewards® Points after spending $6,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
American Express Platinum Card®
The American Express Platinum Card® is the champion of luxury travel cards, with benefits that are worth several times its annual fee.
Annual fee: $895 (see rates and fees)
Welcome offer: You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
Top earning rates:
- 5X points on flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year
- 5X points on prepaid hotels booked with American Express Travel®
Other benefits:
- Global Lounge Collection: includes more than 1,550 airport lounges worldwide
- $600 hotel credit: up to $300 in semi-annual statement credits for prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel (The Hotel Collection requires a minimum two-night stay.)
- $400 Resy credit: up to $100 in quarterly statement credits for purchases at U.S. Resy restaurants
- $300 digital entertainment credit: up to $25 in monthly statement credits for select streaming services and more
- $300 lululemon credit: up to $75 in quarterly statement credits for purchases at U.S. stores and lululemon.com
- $209 CLEAR® Plus credit
- Several other credits worth $100+ per year
- Trip cancellation, interruption, and delay insurance
- Premium status with several hotel and car rental chains
- Terms apply; enrollment may be required
…and the list goes on, and on.
Is the Platinum Card® worth it?
If you’re a frequent traveler and will earn some of the credits, absolutely yes.
Here’s why:
- The Platinum Card® comes with the best airport lounge network of any travel card
- The credits are valuable, and many are easy to earn
Winner: Platinum Card®
These cards are fundamentally different. The Amex Gold Card is a grocery and dining rewards card. The Platinum Card® is primarily a travel card. Neither one is the best card for every person.
However, the Platinum Card® is better at what it does. Its annual fee is easier to recoup, and its benefits are far more valuable. As an added bonus, the potential in its welcome offer is higher.
Apply and find out if you are eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer. Click here to learn more and apply for the Platinum Card® today.
Should you get the Amex Gold Card and the Platinum Card®?
It may sound excessive to carry both of these cards, which cost a combined $1,220 per year.
Yet they actually work very well together, because:
- They both earn Membership Rewards points, which you can pool and redeem for travel at a high value.
- They earn high rates in different spending categories.
So you can earn a lot of points, and save a fortune on travel, with this combo.
Just don’t let yourself be tempted by the idea of these cards. They seem glamorous, and they have a lot of value on paper. But if you don’t use their benefits, then you could end up wasting a lot of money every year.
If you’re ready to take full advantage of the benefits and the Membership Rewards program, though, then go forth and apply. The welcome offers alone could easily recoup the first year’s annual fees (and then some).