When many people think of luxury, they often think of American Express. Known for its high-end cards, American Express offers two products that stand out as strong contenders in the high-annual-fee card space: the American Express® Gold Card and The Platinum Card® from American Express.
The Amex Gold recently received a refresh, upping its annual fee to $325 and adding new dining perks (see rates and fees). With this higher annual fee, it's more important than ever for prospective cardmembers to decide whether it makes sense for their wallet. Let's compare it against the $695-per-year Amex Platinum to see which one makes more sense for you (see rates and fees).
Amex Gold vs. Amex Platinum comparison
| Card | Amex Platinum | Amex Gold |
|---|---|---|
| Welcome offer | Earn 80,000 points after spending $8,000 on purchases within the first six months of card membership. | Earn 60,000 points after spending $6,000 on purchases within the first six months of card membership, plus 20% back on restaurant purchases in the first cardmember year (up to $100 back). |
| Welcome offer value (per TPG's July 2024 valuations) | $1,600 | $1,300 |
| Annual fee | $695 | $325 |
| Earning rates |
|
|
| Notable benefits |
|
|
*Enrollment is required for these benefits. For the Uber benefit, you must have downloaded the latest version of the Uber App, and your eligible American Express Gold Card or American Express Platinum Card must be a payment method in your Uber account.
Amex Gold vs. Amex Platinum welcome offer
The Amex Platinum and Amex Gold are two of the best American Express cards. Luckily, both cards currently have large welcome offers to eligible new cardmembers. So, let's take a closer look at the current offers on both cards.
The Amex Gold currently offers 60,000 points after spending $6,000 on eligible purchases within the first six months of card membership, plus 20% back on restaurants in the first cardmember year (up to $100 back).
According to TPG's July 2024 valuations, this offer is worth $1,300.
The Amex Platinum currently offers 80,000 points after spending $8,000 on eligible purchases within the first six months of card membership. According to TPG's valuations, this offer is worth $1,600.
Amex may target some readers for an even higher offer through the Amex website and CardMatch tool (note that these offers are subject to change at any time). Given Amex's once-in-a-lifetime policy for welcome offers, it's worth checking before you apply to ensure you have the best deal available.
Winner: Amex Platinum. Its welcome offer has more value.
Daily Newsletter
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts
Related: Your Amex Gold checklist: Here are four things to do when you first get the card
Amex Gold vs. Amex Platinum benefits
The Amex Platinum and Amex Gold are two of the best rewards cards. So, both cards offer valuable perks and credits. However, Amex designed the benefits and credits on each card for different types of consumers. Let's take a closer look at the perks offered by each card.
Amex Platinum benefits
The Amex Platinum comes with a ton of perks to justify its $695 annual fee. There are too many benefits to list here, but we'll review some of the highlights.
First, the card offers over $1,500 in annual statement credits, including:
- Up to $200 in airline incidental credits per calendar year: This isn't valid for the purchase of airfare, but you can use this statement credit for incidental charges like seat selection, bag fees and lounge access.*
- Up to $200 in annual Uber cash every calendar year (for U.S. services): This is distributed as up to $15 in Uber Cash a month with a $20 bonus in December when you add your card to your Uber account. It's valid for Uber rides as well as Uber Eats orders in the U.S.*
- Up to $100 annual Saks Fifth Avenue credit per calendar year: This is split up as up to $50 in statement credits for purchases made between January and June and another up to $50 for purchases made between July and December.*
- Up to a $200 annual hotel credit every calendar year: This statement credit is valid on prepaid Amex Fine Hotels + Resorts or The Hotel Collection bookings (of two nights or more) with Amex Travel when you pay with your Amex Platinum.*
- Up to $189 annual Clear Plus credit per calendar year: This statement credit will cover your annual membership.*
- Up to $240 annual digital entertainment credit every calendar year: You'll receive up to $20 in monthly statement credits when you pay for eligible purchases with the Amex Platinum at select partners — including The New York Times and Peaco*ck.*
- Up to $300 annual Equinox credit per calendar year: This grants cardmembers up to $300 in statement credits on select Equinox or Equinox+ app memberships (subject to auto-renewal).*
- Up to a $155 statement credit for Walmart+ every calendar year: This covers the monthly cost of a Walmart+ membership (up to $12.95 a month plus applicable taxes) when paying with the Amex Platinum (subject to auto-renewal). Plus Up Benefits are excluded.*
I don't put much weight into several of these credits, but even if you maximized just a few, you could easily recoup a lot of the card's annual fee.
Many other Amex Platinum perks also provide significant value that can't be pegged to specific dollar amounts. For example, you'll get extensive airport lounge access. Specifically, you'll enjoy Priority Pass Select membership, access to Amex's ever-growing collection of Centurion Lounges and access to Delta Sky Clubs when flying Delta (limited to 10 annual visits from Feb. 1, 2025).
In short, the Amex Platinum is one of the best cards for airport lounge access.
Amex Platinum cardmembers can also register for Gold Elite status with Marriott and Gold status with Hilton, enlist the help of premium concierge services and enjoy other lesser-known Amex Platinum benefits.
Although you will have to pay the $695 annual fee upfront at the beginning of your account year, all these perks make it easy to see how the Platinum Card can be worth its annual fee.
*Enrollment is required for select benefits, and terms apply to all benefits.
Related: How to maximize benefits with the Amex Platinum Card
Amex Gold benefits
The Amex Gold is one of the best-looking cards on the market, especially if you get the rose gold or white gold version. It has a much shorter list of benefits than the Amex Platinum, but the Amex Gold's perks are still quite valuable.
Most notably, cardmembers can enjoy up to $424 in annual statement credits, including:
- Up to $120 in annual Uber Cash per calendar year: You'll receive up to $10 in Uber Cash each month once you add your card to your Uber app, valid on Uber rides and Uber Eats orders in the U.S.*
- Up to $120 in annual dining credits each calendar year: You'll receive up to $10 a month in statement credits when you make purchases with the Amex Gold at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com and Five Guys.*
- Up to $100 in annual credits for purchases made at Resy restaurants per calendar year: You'll get up to $50 in statement credits biannually for eligible Resy purchases and dining at U.S. Resy restaurants.*
- Up to $84 in annual credits for Dunkin' Donuts purchases: You'll receive up to $7 per month in statement credits for purchases made at Dunkin' Donuts.*
If you can max out these benefits, you'll be in the green by $99 after considering the card's $325 annual fee. That's not even counting the value of the other perks of the Amex Gold.
*Enrollment is required for select benefits, and terms apply to all benefits.
Winner: Amex Platinum. The Platinum card has a much more extensive list of benefits, with lounge access arguably the most important. The trade-off is a much higher annual fee.
Related: Why I love my Amex Gold card — and will keep it for years to come
Earning points with the Amex Gold vs. Amex Platinum
The Amex Platinum and Amex Gold both earn American Express Membership Rewards points. But let's take a closer look at each card's bonus categories.
Describing the standard bonus categories on the Amex Platinum is a short and simple task — not necessarily in a good way. Specifically, there are only two bonus categories to speak of:
- 5 points per dollar on flights booked directly with airlines or via American Express Travel (on up to $500,000 in purchases per calendar year; then 1 point per dollar)
- 5 points per dollar on prepaid hotels booked with American Express Travel
You'll earn only 1 point per dollar on other eligible purchases.
The 5 points per dollar is a substantial benefit, equating to a 10% return based on TPG's July 2024 valuations. However, the lack of other bonus categories and limitations means that the Amex Platinum doesn't stack up well on the earnings front, especially compared to other premium cards.
Remember, too, that booking hotels through a third-party site (like Amex Travel) means you likely won't be eligible to earn points and utilize the perks of elite status.
This downside makes the above earning rate much less attractive for hotels participating in a major loyalty program like Hilton Honors or Marriott Bonvoy — though it can work well for prepaid reservations through Fine Hotels + Resorts.
Meanwhile, bonus-earning categories are where the Amex Gold excels. Specifically, it accrues:
- 4 points per dollar at restaurants worldwide (up to $50,000 each calendar year, then 1 point per dollar)
- 4 points per dollar at U.S. supermarkets (up to $25,000 per calendar year; then 1 point per dollar)
- 3 points per dollar on airfare purchased directly from the airline or through amextravel.com
- 2 points per dollar on prepaid hotels and other eligible purchases booked through amextravel.com
- 1 point per dollar on other eligible purchases
Earning 4 points per dollar at restaurants, which amounts to an 8% return according to our valuations, makes the Amex Gold one of the best cards for dining at restaurants, even with the annual $50,000 limit.
The Amex Gold is also one of the best cards for groceries at U.S. supermarkets. Even with the $25,000 calendar year cap, that still requires over $2,000 per month in spending to hit it — though the U.S. restriction isn't ideal.
That said, the strong earning rates across numerous categories are still worth exciting for most people.
Winner: Amex Gold. Although the Amex Platinum's bonus categories earn points at a higher rate, the Gold card earns bonus points on more everyday spending categories versus the Platinum.
Related: Who should (and who shouldn't) get the Amex Gold card?
Redeeming points with the Amex Gold vs. Amex Platinum
There aren't any noteworthy redemption differences between the two cards. Both cards earn the same transferable Membership Rewards points, which can be redeemed for travel on Amex Travel or for cash back or gift cards at a lower value, which we don't recommend.
Additionally, you can transfer Amex points to transfer partners, where you can receive incredible value.
Winner: Tie. Both cards offer the same redemption options.
Related: Here are 7 of our favorite ways to use Amex Membership Rewards points
Transferring points with the Amex Gold vs. Amex Platinum
Both cards earn Membership Rewards points that can be transferred to 21 airline and hotel loyalty programs. When used in this manner, points are worth 2 cents each, according to TPG's July 2024 valuations.
Transferring points to airline partners such as Air Canada Aeroplan or Air France-KLM Flying Blue can help you get an exceptional return on your points — especially if you can do so with a limited-time transfer bonus.
TPG credit cards writer Chris Nelson likes to transfer his Amex points to Avianca LifeMiles, for outsize value when flying on Star Alliance partners from Newark Liberty International Airport (EWR) to European destinations.
Winner: Tie. Both cards offer the same list of transfer partners and ratios.
Should I get the Amex Gold or Amex Platinum?
If you spend more on dining and groceries, you should opt for the Amex Gold. However, if you fly frequently and want lounge access, you'll want to opt for the Amex Platinum. Both cards have many benefits and credits to help justify their annual fees. And, of course, you may decide to get both since their benefits and earning structures complement each other well.
How to switch from the Amex Gold to the Amex Platinum
Since the Amex Gold and Amex Platinum are in the same card family, you can switch between them by speaking with an American Express representative. I generally don't recommend upgrading from the Gold to the Platinum unless you receive a lucrative upgrade offer since you'll forfeit earning the Platinum's welcome offer by doing so.
On the other hand, downgrading from the Platinum to the Gold makes sense if you can no longer justify the Platinum's annual fee.
Bottom line
Both the Amex Platinum and Amex Gold are fantastic options for travelers. If you only want to pay one annual fee, consider whether you want higher bonus rates on various purchases or valuable perks that add a splash of luxury to your upcoming travels.
In many cases, there could be room for both of these cards in your wallet, as the Amex Gold and Amex Platinum complement each other very well.
To learn more, check out our full reviews of the Amex Platinum and Amex Gold.
Apply here: The Platinum Card® from American Express
Apply here: American Express® Gold Card
Related: The power of the Amex trifecta: Platinum, Gold and Blue Business Plus
For rates and fees of the Amex Platinum Card, please click here.
For rates and fees of the Amex Gold Card, please click here.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
