Why the Amex Platinum still reigns supreme in the luxury travel space (and how other cards are catching up)
Every year, the TPG Awards honor excellence in credit cards, loyalty programs and travel. Please click here to read more about our winner selection process and methodology for the 2024 TPG Awards.
Despite newcomers to the premium credit card space vying for your business, American Express' top-tier consumer card continues to shine.
The Platinum Card® from American Express has swept all three of the data-driven luxury card honors at the 2024 TPG Awards, claiming the titles of Best Card for Lounge Access, Best Credit Card Lounge Network and Best Luxury Hotel Collection — and it's no shock why.
Let's explore how the Amex Platinum continues to hold first place among luxury travel rewards cards, as well as how competitors are catching up.
The best lounge access
The Amex Platinum is synonymous with lounge access. In fact, it was largely responsible for launching the trend of issuer-branded airport lounges.
American Express Centurion Lounges can be found at 15 U.S. airports and another 11 worldwide, with more in the pipeline. Compare Amex's footprint to that of its competitors, such as Capital One Lounges and Chase Sapphire Lounges, and you'll quickly notice that their presence pales in comparison to American Express'.
Alongside Centurion Lounges, cardmembers receive access to Delta Sky Club lounges* (when flying on Delta) and Priority Pass Select lounges. Enrollment is required. Other lounges around the globe that cardmembers can access include:
- Airspace Lounges
- Escape Lounges
- Plaza Premium Lounges
- Select Lufthansa Lounges
- Other Global Lounge Collection partner lounges
*Receive 10 visits to the Delta Sky Club or Grab and Go per eligible Platinum Card, per year when traveling on a same-day, Delta-operated flight.
This wide footprint played a major role in the card winning the two data-driven lounge awards. To determine the best card for lounge access, we analyzed the entire network of lounges available to cardholders, which consisted of 75% of the final score. Then, we dug into access policies — including guest and authorized user privileges — for the remaining 25%. The Amex Platinum rose to the top, scoring 8.79 out of 10.
We took a similar approach to determine the winner for the best card-exclusive lounge network award. Once again, the network made up 75% of the final score, and the remaining 25% was split evenly between the access policies and amenities offered to cardholders. The Amex Platinum again took the top spot with a score of 7.2 out of 10.
However, there's much to love about the other two issuers' offerings, as each took home honors for their premium options.
Capital One began opening its own lounges in 2021, and its top-tier personal travel rewards card, the Capital One Venture X Rewards Credit Card, has been named the Best Premium Travel Card at this year's TPG Awards.
The issuer currently has three lounges open within the U.S., with another two in the pipeline. In November, it also premiered a new lounge concept called the Capital One Landing at Ronald Reagan Washington National Airport (DCA).
Chase is also racing to compete with Amex and Capital One, with eight of its own lounges open since its first landed in Hong Kong in 2022. In fact, Chase's lounge at New York City's LaGuardia Airport (LGA), which opened in January, has won the Best New Lounge award at this year's TPG Awards. Recent additions to the network include locations in Phoenix and San Diego.
Amex Platinum cardmembers can access Centurion Lounges at no cost. However, the ability to bring guests at no charge is contingent on spending at least $75,000 per calendar year.
Capital One is more generous in this area, as Venture X cardholders and authorized users can each bring up to two guests for no additional cost into Capital One and Priority Pass lounges. Chase's guest policies are also less restrictive than Amex's.
You can read our full methodology for determining all winners of the 2024 TPG Awards on this page.
High earning rate on airfare
The Amex Platinum was one of the first cards to introduce an astoundingly high 5 points per dollar spent on airfare when booking directly with an airline or through American Express Travel® (on up to $500,000 of airfare purchases per calendar year, then 1 point per dollar). This high earning rate on airfare is extremely valuable considering that Amex lets you earn bonus points when booking directly with an airline.
Competitors such as the Venture X also offer 5 points per dollar spent on flights but only when booking through Capital One Travel. There are several reasons to avoid booking through a travel portal, such as punitive cancellation fees, poor customer service and refund troubles.
When it comes to luxury travel, earning 5 points per dollar spent on flights can help you rack up points quickly and then utilize them for premium cabin redemptions.
Abundance of statement credits and perks
The Amex Platinum provides numerous statement credits to cardmembers, which can be more than enough to offset its $895 annual fee (see rates and fees).
The card offers an extensive list of statement credits, including:
- Up to $200 in statement credits each calendar year when airline incidental fees are charged by a qualifying airline
- Up to $600 in statement credits each year, distributed as up to $300 semi-annual credits, for prepaid American Express Fine Hotels + Resorts or The Hotel Collection bookings made via American Express Travel when you pay with the Platinum Card (minimum two-night stay required for The Hotel Collection)
- Up to $200 in Uber Cash annually (up to $15 per month, plus an up to $20 bonus in December) for rides with Uber and orders on Uber Eats in the U.S. when the Amex Platinum is added to your Uber account (you can even pay with any Amex card)
- Up to $120 statement credit for Uber One, covering an auto-renewing $96 annual or $9.99 monthly membership (enrollment required)
There are many ways to maximize and get the most value from your Amex Platinum Card, including taking advantage of targeted Amex Offers for opportunities to earn cash back or bonus points on purchases with select merchants. Recently, I earned 20,000 Membership Rewards points after spending $1,000 on Air France and KLM tickets with my Amex Platinum Card, which was like getting a 40% kickback on my purchase.
The Amex Platinum takes it up a notch by giving cardmembers complimentary Gold status with both Marriott Bonvoy and Hilton Honors after enrolling. Benefits include bonus points on stays, room upgrades and late checkout.
But it was Fine Hotels + Resorts that led to the card winning this year's data-driven award for the Best Luxury Hotel Collection. For this honor, we evenly weighted the global footprint of the program (50%) and the benefits offered to cardholders (50%). Amex FHR came in first, with a score of 9.3 out of 10 — thanks largely to a massive portfolio of properties, the aforementioned up to $600 annual statement credit and the guaranteed late checkout.
However, we've seen some notable competition from Chase and Capital One. The Edit by Chase Travel is available for Chase Sapphire Reserve® (see rates and fees) cardholders, featuring similar perks (and now the confirmed ability to earn hotel rewards and enjoy loyalty perks at select properties). Meanwhile, Venture X includes access to Capital One Premier Collection, a curated set of hotels worldwide offering cardholders various on-property perks.
Hopefully, we'll continue to see investment in these programs as Amex, Capital One and Chase compete to capture luxury travelers.
Read more: A comparison of luxury hotel programs from credit card issuers: Amex, Capital One, Chase and Citi
Valuable transfer partners
The Amex Platinum has an impressive combined 20 airline and hotel transfer partners that cardmembers can utilize to book luxury travel experiences, such as premium cabin redemptions and top-tier hotel stays.
According to TPG's December 2024 valuations, Amex points are worth 2 cents apiece, coming in fairly close to Bilt Rewards and Chase Ultimate Rewards points, each valued slightly higher at 2.05 cents.
Amex continues to reign at the top thanks to its frequent offering of transfer bonuses to select partners. Over the past decade, Amex has been the issuer offering the most transfer bonuses each year.
However, its competitors have some unique transfer partners that Amex doesn't, like Chase's partnership with World of Hyatt and Capital One customers' ability to transfer points to Turkish Miles&Smiles.
Bottom line
Major credit card issuers continue refreshing their top-tier cards to help cardholders elevate their travel experiences.
The Amex Platinum set the standard for luxury travel years ago with its expansive lounge access policies, high earning rate on airfare, valuable transfer partners and lucrative statement credits — and the card still holds the title of king in this space.
But with many competitors catching up, it's time for the Amex Platinum to once again innovate to stay ahead and elevate luxury travel. For now, though, it's still the top pick for luxury-seeking travelers.
Related: Amex Platinum card review: High annual fee with loads of perks
For rates and fees of the Amex Platinum Card, click here.
TPG featured card
Rewards
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.
Rewards Rate
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 3X | Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. |
| 2X | Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Intro 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.As High As 100,000 points. Find Out Your Offer.Annual Fee
$325Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.Excellent to Good
Why We Chose It
There’s a lot to love about the Amex Gold. It’s a fan favorite thanks to its fantastic bonus-earning rates at restaurants worldwide and at U.S. supermarkets. If you’re hitting the skies soon, you’ll also earn bonus Membership Rewards points on travel. Paired with up to $120 in Uber Cash annually (for U.S. Uber rides or Uber Eats orders, card must be added to Uber app and you can redeem with any Amex card), up to $120 in annual dining statement credits to be used with eligible partners, an up to $84 Dunkin’ credit each year at U.S. Dunkin Donuts and an up to $100 Resy credit annually, there’s no reason that foodies shouldn’t add the Amex Gold to their wallet. These benefits alone are worth more than $400, which offsets the $325 annual fee on the Amex Gold card. Enrollment is required for select benefits.Pros
- 4 points per dollar spent on dining at restaurants worldwide and U.S. supermarkets (on the first $50,000 in purchases per calendar year; then 1 point per dollar spent thereafter and $25,000 in purchases per calendar year; then 1 point per dollar spent thereafter, respectively)
- 3 points per dollar spent on flights booked directly with the airline or with amextravel.com
- Packed with credits foodies will enjoy
- Solid welcome bonus
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $6,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
- Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an American Express Card for your transaction. That’s up to $120 Uber Cash annually. Plus, after using your Uber Cash, use your Card to earn 4X Membership Rewards® points for Uber Eats purchases made with restaurants or U.S. supermarkets. Point caps and terms apply.
- $84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations. Enrollment is required to receive this benefit.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
- $120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
- Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges* with every booking of two nights or more through AmexTravel.com. *Eligible charges vary by property.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.