Credit Card Showdown: American Express Platinum Vs. American Express Gold

Earn High Rewards on Flights and Prepaid Hotels

The Platinum card earns a whopping 5 Membership Rewards points per dollar spent on flights booked directly with the airline or through American Express Travel and prepaid hotels booked through American Express Travel. The airfare portion of this benefit is limited to the first $500,000 spent each year. That’s as good of a rewards rate as you’ll find on any travel rewards card that isn’t tied to a specific airline. All other purchases earn 1 point per dollar spent.

For frequent fliers who typically book direct or prepay for their hotel rooms, this alone could be a great reason to own this card.

Enjoy Premium Lounge Perks

In exchange for an annual fee of $695 (Terms Apply. See rates and fees), no other credit card will give you access to as many premium airport lounges as the American Express Platinum card. Owning the card will grant you entry to the exclusive Centurion Lounges and the newly rebranded Centurion Studios. These lounges are reserved just for cardholders of the Platinum, The Business Platinum Card® from American Express and the even more exclusive invitation-only Centurion® Card from American Express*.

You’ll also get access to Delta Sky Club lounges when flying same-day on Delta Priority Pass Select lounges and more. If you want your airport hang time to be more comfortable and there’s an airport lounge of nearly any brand, this card has you covered.

Rock Elite Travel Status and Benefits

Platinum Card ownership comes with more extras than you can pack in your suitcase. In addition to the lounge access we already mentioned, you’ll also get a $200 airline incidental fee credit on a qualifying airline you choose each year (enrollment required), an annual $179 credit for CLEAR membership, up to a $100 fee credit every four years for Global Entry or TSA PreCheck, money-saving perks and benefits at hotels booked in The Hotel Collection with American Express Travel or the Fine Hotels + Resorts Collection, and elite status with both Marriott Bonvoy and Hilton Honors hotel programs (after enrollment).

Be Covered With Trip Insurance

The Platinum Card also comes with a raft of included protections and insurances that could give you peace of mind when you’re on the go. One protection the Platinum Card has that the Gold Card does not is trip cancellation and interruption insurance for eligible claims. If your trip is canceled or interrupted for a covered reason, you can receive up to $10,000 per trip and up to $20,000 per eligible card per 12 consecutive month period. The Platinum Card also comes with industry leading travel evacuation coverage. This can give you peace of mind if you end up missing a connecting flight or if you get injured, among other reasons.

However, keep in mind that the American Express Platinum Card isn’t best-in-class for its included travel insurance. The Amex Platinum does offer trip interruption and cancellation coverage, but if you want benefits like trip delay and baggage delay coverage, the Chase Sapphire Reserve® offers overall more comprehensive coverage.

Live the Platinum Lifestyle

With a wide variety of benefits to fit every lifestyle, you’re sure to find some ways to upgrade your life with what The Platinum Card provides. Start with a $20 per month credit for purchases or subscriptions with Audible, The New York Times, SirusXM and Peacock after you enroll.

Add in up to $200 per year in Uber Cash good for U.S. Rides and Eats ($15 per month and $20 extra in December after you add your eligible card to your Uber account), $100 in Saks Fifth Avenue credits (two $50 credits, one January to June and the second from July to December), and $25 per month in credits for select Equinox memberships or the Equinox+ digital fitness app when you pay with your card. Each of these benefits requires enrollment.

To top it off in style, you will also have access to up to 40% off of a membership for the Premium Private Jet Program with Wheels Up and up to $2,000 in initial flight year credits for when you need to book a private charter flight or two.

Earn High Rewards on All the Ways You Eat

Some credit cards offer high rewards on dining, others on groceries. The American Express Gold Card offers big rewards on both. With this card you’ll earn 4 Membership Rewards® points per dollar at restaurants, plus takeout and delivery in the U.S., 4 Membership Rewards® points per dollar at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1 point per dollar), 3 Membership Rewards® points per dollar on flights booked directly with airlines or through American Express travel and 1 point per dollar on all other eligible purchases.

Also Earn Solid Rewards on Airline Spending

The Amex Gold earns a respectable 3 points per dollar spent on flights booked with airlines directly or booked through American Express Travel. All other purchases earn 1 point per dollar spent. That may not be as much as the earning rate on the Platinum Card, but if you tend to spend more money on eating than you do on flying, this rewards structure may work out better for you overall.

Cash in on Dining Credits

If you tend to eat or order from one or more of the restaurants and delivery services eligible for a $10 monthly credit, over the course of the year you’ll have gobbled up $120 in savings. That credit can be redeemed with Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed and participating Shake Shack locations.

In addition, the Amex Gold Card gives you $10 in Uber Cash each month, when you connect your card to an Uber account. That Uber Cash can be used for both rides and Uber Eats in the U.S.

Maximize Point Earning Potential

The purpose of owning a rewards card is to earn rewards and rarely will just one card earn you the best possible return on all of your spending. If you own both cards, use the Amex Platinum to pay for flights and prepaid hotels and the Amex Gold to pay for your supermarket and dining purchases to earn the most points possible on every dollar you spend.

Since both cards earn Membership Rewards points, you can combine those earnings together for one big, fat redemption. Use those points for a statement credit, to buy gift cards, to book travel or transfer to one of multiple airline and hotel transfer partners.

Take Advantage of Travel Transfer Partner Possibilities

Since Membership Rewards points transfer at a 1:1 ratio to most of Amex’s hotel and airline travel partners, there are a lot of opportunities to find a sweet spot where you can get outsized value on hotel bookings or airfare by transferring your rewards. Using the Amex Platinum and Amex Gold cards in tandem to earn maximum rewards on your spending can lead to getting maximum returns on your points redemptions.

Avoid Paying an Annual Fee

Both the Amex Platinum and the Amex Gold cards charge annual fees that will cost you several hundred dollars a year. If you can’t stomach the thought of shelling out that much for a card, even with all the perks and extras, consider a card like the Amex EveryDay® Credit Card*, which carries no annual fee and earns 2 Membership Rewards points per dollar at US supermarkets on up to $6,000 per year in purchases (then 1X), 2 points per dollar when using the card to book trips through American Express Travel and 1 point for every eligible dollar on everything else. Plus, use the card 20 or more times on purchases in a billing period and earn 20% extra points on those purchases.

Skip The Perks

If you aren’t much of a traveler, the high-end perks that come with a premium travel card like the Amex Platinum likely won’t make that high annual fee worth it to you. Similarly, if you tend to eat at home far more than dining out, other cards will offer similar or better returns on your supermarket spending without the Gold card’s annual fee. And those dining credits won’t mean much if you don’t use them.

Earn a Simple Flat Rate on All of Your Spending

Using the Amex Platinum and the Amex Gold does require a bit more mental energy than a card that earns the same flat rate on every purchase. If you feel like it’s more hassle than it’s worth to remember which card to use when, consider a card like the Citi® Double Cash Card, which has no annual fee and earns a net 2% cash back on every purchase you make—1% when you make a purchase and another 1% when you pay your bill.

The Amex Platinum and the Amex Gold cards both carry appealing features for those who can take full advantage of them. However, neither card is a perfect fit for everybody. Before applying for either of these cards, be sure to consider your own unique spending habits and preferences, and make sure that you can get enough value out of the card to make up for the annual fee.

See rates and fees for The Platinum Card® from American Express here.

See rates and fees for the American Express® Gold Card here.