Advertiser Disclosure: Rachel Points has partnered with CardRatings for our coverage of credit card products. Rachel Points and CardRatings may receive a commission from card issuers. Rachel Points may receive a commission from card issuers. Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

The Platinum Card® from American Express carries an $895 annual fee and over $3,500 in advertised annual value. Most cardholders chase the same handful of credits — the $600 hotel credit, the $400 Resy credit, the Centurion Lounge access — and never touch the rest.

The benefits below are the ones I see people miss the most. Used correctly, any single one can cover a meaningful portion of the fee. Used together, they reframe what this card actually is.

None of these require a separate application or a meet-spend threshold. Most require either a one-time enrollment or just paying the right purchase with the right card. That’s it. Terms Apply to all American Express benefits referenced below.

Pay your monthly cell phone bill with your Platinum Card and you get cell phone protection. Up to $800 per claim. $50 deductible. Maximum two claims per 12-month period. Coverage applies to theft and damage. Loss is not covered.

AppleCare+ for an iPhone 16 Pro costs around $13.49 a month — roughly $162 a year. This Ames Platinum benefit can potentially replace it — for free.

And it’s not just iPhones. The coverage applies to any cellular wireless telephone listed on the wireless bill paid with your eligible card. Android, iPhone, family lines — all eligible if the line is on the bill you paid with the Platinum.

Your monthly cell phone bill must be made on the Platinum Card to be covered. The coverage activates the month after a payment posts.

If something happens — cracked screen, water damage, theft — you start the claim within 90 days of the incident through the Amex benefits portal. For theft, file a police report within 48 hours. Have your card statement showing the wireless payment, the original phone purchase receipt if you have it, and a repair estimate or proof of damage.

Coverage for a stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions and limits of liability of this benefit. The maximum liability is $800 per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12-month period. Eligibility and Benefit level varies by Card. Underwritten by New Hampshire Insurance Company, an AIG Company.

Point.me is the award search tool you can use to find availability across Amex’s airline transfer partners. A standalone point.me subscription is $129 a year. Anyone holding a US-issued American Express Membership Rewards card can access a version of it at amex.point.me at no additional cost.

Award search is the bottleneck in points redemption. You can have a million Membership Rewards points and still miss the booking because you don’t know which transfer partner has space on which route. Point.me solves that. You enter your origin, destination, dates, and cabin — it returns live award availability across Amex’s 17 airline transfer partners, ranked by total point cost, with step-by-step booking instructions on how to transfer the points and lock in the seat.

The full point.me subscription covers every major points program including Chase, Citi, Capital One, Bilt, and Wells Fargo. The amex.point.me version is limited to Amex Membership Rewards transfer partners.

Go to amex.point.me. Log in with your American Express credentials. You’ll land directly inside the point.me search interface. Enter origin, destination, dates, cabin, number of passengers. Hit search.

The results show every Amex transfer partner with availability on the route you searched, sorted by point cost. Click into any option and point.me walks you through which partner program to transfer your points to, how many points to transfer, and how to complete the booking on that airline’s site.

Amex transfer partners covered include Air Canada Aeroplan, ANA Mileage Club, Virgin Atlantic Flying Club, Air France-KLM Flying Blue, Qatar Airways Privilege Club, Singapore KrisFlyer, Cathay Pacific Asia Miles, British Airways Executive Club, Delta SkyMiles, Avianca LifeMiles, Iberia Plus, Aeromexico Rewards, JetBlue TrueBlue, Emirates Skywards, Etihad Guest, Aer Lingus AerClub, and Qantas Frequent Flyer.

The $155 annual Walmart+ credit on the Platinum covers the cost of a full Walmart+ membership. The credit pays for the membership in monthly increments — $12.95 per month.

What most cardholders don’t realize is what’s tucked inside the Walmart+ membership itself.

Walmart+ includes a complimentary ad-supported subscription to either Paramount+ or Peacock — your choice, switchable every 90 days through the Walmart+ Benefits Hub. That’s a streaming service worth roughly $60-$80 a year folded inside a credit you’re already earning back from Amex.

If you’re paying for Paramount+ or Peacock as a standalone subscription right now, cancel it. The Platinum has already paid for it through the Walmart+ stack.

Three enrollment steps, all one-time:

First, enroll in the $155 Walmart+ credit through your Amex benefits dashboard. The credit posts monthly when you pay your Walmart+ membership with the Platinum.

Second, sign up for Walmart+ and pay with your Platinum Card.

Third, navigate to the Walmart+ Benefits Hub and link or activate your choice of Paramount+ or Peacock.

After 90 days you can switch from Paramount+ to Peacock or vice versa if you change your mind. You can upgrade Paramount+ to the ad-free Premium tier for an additional fee if you want — but the base ad-supported plan is included at no extra cost.

Walmart+ added Pawp as an included benefit. Pawp is a 24/7 veterinary telehealth service that gives you on-demand video and text access to licensed veterinary professionals for non-emergency concerns. A standalone Pawp membership costs $99 a year. Through Walmart+, it’s included at no additional cost when you activate it.

If you’re a pet owner this can be helpful — financially and practically. Your cat eats something questionable at 11 p.m. Or your dog has had a few days of gunk in his eye (like mine). Instead of waiting it out, second-guessing, or paying for a vet visit, you message a licensed vet through the Pawp app.

In many states, you can pay an additional fee (around $35) to get a prescription appointment, if necessary.

The service does not replace having a vet, but it can certainly be handy for smaller requirements and peace of mind.

Pawp also includes preventative check-ins, a personalized Pet Profile that stores your pet’s history so the vet has context every time, and the option to add a $3,000 annual Emergency Fund for life-threatening situations (that’s $19/month extra, billed separately by Pawp, and not included in the Walmart+ version).

Inside your Walmart+ account, go to the Benefits Hub and locate Pawp. Click to activate. You’ll set up a Pet Profile with your pet’s information — species, breed, age, weight, medical history if relevant. After that, whenever you have a question you open the app and either start a chat or video call with a vet.

The Walmart+ version includes the standard Pawp membership. Additional services like the Emergency Fund are billed by Pawp directly if you opt in.

Two separate benefits, both running quietly in the background on every single purchase you put on the card. Most cardholders never realize they’re sitting on this.

Purchase Protection covers eligible items against accidental damage or theft for 90 days from the date of purchase, up to $10,000 per occurrence and $50,000 per Card Member account per calendar year.

Drop your new laptop two weeks after buying it. Phone shattered. Camera stolen out of your bag. File a claim through the Amex benefits portal with the purchase receipt, the card statement showing the charge, and proof of the damage or police report for theft.

Return Protection is the one almost nobody uses. If a retailer won’t accept a return within 90 days of purchase, Amex may refund you up to $300 per item, $1,000 per Card Member per calendar year.

The shirt that didn’t fit and the store has a 30-day return window. The kitchen gadget that turned out to be a waste of money. The candle you decided you hated after burning it twice. The retailer says no — you call Amex.

Eligibility requires the item to be in its original condition (or as close as possible), purchased entirely on your eligible Amex card, and within 90 days. Some categories are excluded — perishables, services, custom-made items, jewelry, art.

Nothing to enroll in. Both benefits attach automatically to every eligible purchase made on the Platinum. The work is saving the documentation — receipt, confirmation email, card statement — and starting the claim through the Amex benefits portal when something happens.

This benefit used to be called the International Airline Program. Amex rebranded and expanded it in 2026 — it’s now called Platinum Member Airfares. You’re automatically enrolled with the Platinum Card.

Book a flight through AmexTravel.com and you get access to discounted fares in premium economy, business, and first class on more than 30 international airlines. Amex’s stated average savings is around 10%, or about $100 per ticket on eligible premium international fares. On a $7,000 business class ticket to Asia, that’s $700 off the cash price.

The discount extends to up to seven companions traveling on the same itinerary. Family of four flying business class internationally — the 10% discount applies to all four tickets, not just yours.

Participating airlines include Singapore Airlines, Qatar Airways, ANA, Lufthansa, Cathay Pacific, British Airways, Qantas, Delta, Air France-KLM, Japan Airlines, Turkish Airlines, Air Canada, and more — over 30 carriers across all three major alliances.

There’s a second value layer on top of the cash discount. Paying with the Platinum on AmexTravel.com earns 5x Membership Rewards points on the booking (up to $500,000 in eligible purchases per calendar year on flights). On a $6,300 fare after the 10% Platinum Member Airfares discount, that’s 31,500 MR points on top of the savings — worth approximately $630 at conservative valuations.

And because these are revenue tickets, you also earn frequent flyer miles in the airline’s program. Amex calls this “Fly once, earn twice.”

Go to AmexTravel.com and log in with your eligible Amex account. Search flights as normal. Eligible Platinum Member Airfares will be tagged automatically in the search results — you don’t need to opt in or filter manually, though there is a filter to narrow results to just Platinum Member Airfares fares.

Important: you have to pay with the Platinum Card on AmexTravel to access both the discounted pricing and the 5x MR earn rate. Using a different card disqualifies you from both.

Availability varies by airline, route, and cabin. Not every fare on every route shows a discount — the airline has to make inventory available under the program. Premium international cabins are where the discount is most consistent. Domestic economy participation is more limited.

Pro tip: Before you book any premium cabin international ticket — anywhere over four figures — check two places: the airline’s direct site and AmexTravel.com for Platinum Member Airfares pricing. Compare the two to make sure you’re getting the best deal.

Six benefits, mostly invisible until you go looking for them. Here’s what they’re worth as standalone value if you use them at moderate intensity:

Cell phone protection replaces AppleCare for most users — that’s $162/year you stop paying. Point.me access replaces the $129/year standalone subscription. The Walmart+ stack delivers a $98 membership plus Paramount+ or Peacock (~$60-$80) plus Pawp (~$99) — $250+ of standalone value inside the $155 credit. Purchase and Return Protection have variable annual value depending on usage but realistically pay out a few hundred dollars a year for active spenders. Platinum Member Airfares pays for itself on a single premium cabin booking — often saving more on one flight than several other benefits combined.

Add the six together. Conservatively: $800+ of recurring annual value from cell phone protection, point.me, and the Walmart+ stack alone — before you factor in the variable benefits or the airfare program. That’s the difference between this card being worth it and not.

If you’re not already a Platinum cardholder and you’re reading this thinking about whether the card makes sense for your wallet, the welcome offer is a nice bonus.

The current public offer on the Platinum Card® from American Express: apply and find out if you’re eligible for as high as 175,000 Membership Rewards® points after spending $12,000 in eligible purchases on the Card in the first 6 months of Card Membership.

Welcome offers vary and you may not be eligible for an offer. Amex shows you your personalized welcome offer after you submit an application, before you accept the Card — so you’ll know exactly which offer you qualify for before committing.

At conservative Membership Rewards valuations, 175,000 points represent meaningful redemption value across Amex’s transfer partner network — enough for a round-trip business class ticket on several international routes, or multiple domestic redemptions, depending on how you use them.

Amex applies a once-per-lifetime rule to its welcome offers. If you’ve held this Card or specific related versions (the Platinum Card® from American Express Exclusively for Charles Schwab, the Platinum Card® from American Express Exclusively for Morgan Stanley, or previous versions of these Cards) you may not be eligible for a welcome offer. Other factors — your history as an American Express Card Member, the number of credit cards you’ve opened and closed — can also affect eligibility. Amex will notify you before processing your application if you’re not eligible for an offer.

Annual fee: $895. Additional Platinum Cards on the same account: the first Additional Platinum Card is $0 annually; each Additional Platinum Card after the first is $195 annually. No foreign transaction fees on international purchases.

The Platinum Card has no preset spending limit — purchasing power adjusts based on usage, payment history, and other factors.

Find out your offer

Learn More about the Platinum Card® from American Express

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Terms Apply. Rachel Points has partnered with CardRatings for our coverage of credit card products. Rachel Points and CardRatings may receive a commission from card issuers.

If you’re already a Platinum cardholder, the work is the audit. Go through the six benefits above one at a time. For each one, ask: am I actively using this? If the answer is no on more than two of them, you’re underutilizing the card. The annual fee math doesn’t change. What changes is what you do with the benefits sitting inside it.

The Platinum is worth the annual fee for cardholders who use a meaningful share of the lifestyle credits (Walmart+, Resy, Digital Entertainment, lululemon, Oura, Equinox), book at least one Fine Hotels + Resorts stay annually, and travel internationally in premium cabins. Used at moderate intensity, the credits and benefits exceed the annual fee. Used passively, they don’t. The benefits in this article alone — cell phone protection, point.me access, the Walmart+ stack — represent over $500 of recurring annual value if fully utilized.

Pay your monthly cell phone bill with the Platinum Card. After at least one payment posts, you’re eligible for coverage of up to $800 per claim against theft or damage, with a $50 deductible. Coverage is limited to two claims per 12-month period. Loss is not covered. Coverage activates the month after a payment posts to the card. Terms, conditions, and limitations apply.

Amex.point.me is a complimentary version of the point.me award search tool, available at no additional cost to any U.S.-issued American Express Membership Rewards cardholder. Visit amex.point.me, log in with your Amex credentials, and you can search award availability across all 17 Amex airline transfer partners. The full point.me subscription, which searches across all major points programs (Chase, Citi, Capital One, Bilt), runs $129 per year.

The $155 annual Walmart+ credit covers a full Walmart+ membership ($98/year). Walmart+ itself includes complimentary Paramount+ or Peacock ad-supported streaming (your choice, switchable every 90 days), Pawp pet telehealth ($99 standalone value), free shipping with no order minimum, $0.10/gallon gas savings, free pharmacy delivery, and additional partner perks. Enrollment in the Amex credit and individual Walmart+ benefits required.

Platinum Member Airfares (formerly called the International Airline Program) is a benefit that gives Platinum cardholders discounted fares in premium economy, business, and first class on more than 30 international airlines when booked through AmexTravel.com. Average savings are around 10%, or about $100 per ticket. The discount extends to up to seven companions traveling on the same itinerary. Cardholders are automatically enrolled

The current public offer on the Platinum Card® from American Express: apply and find out if you’re eligible for as high as 175,000 Membership Rewards® points after spending $12,000 in eligible purchases on the Card in the first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Terms Apply.

Products mentioned

The Platinum Card® from American Express

Annual fee: $895. Welcome offer: Apply and find out if you’re eligible for as high as 175,000 Membership Rewards® points after spending $12,000 in eligible purchases on the Card in the first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Terms Apply.

Learn More | See Rates and Fees

Rachel Points has partnered with CardRatings for our coverage of credit card products. Rachel Points and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Terms Apply.

Advertiser Disclosure: Rachel Points may receive a commission from card issuers. Some or all of the card offers that appear on Rachel Points are from advertisers and may impact how and where card products appear on the site. Rachel Points does not include all card companies or all available card offers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Terms Apply.