Which American Express card is best suited for your needs: Gold or Platinum?

American Express offers various benefits and promotions. Visit their website for more information.

If you're a foodie, frequent traveler, or seek luxury benefits, you may want to consider the American Express® Gold Card or The Platinum Card® from American Express.

Both Amex Gold and Amex Platinum cards provide significant rewards and advantages, but the way you obtain that value is contingent on your lifestyle and spending patterns. The Amex Gold card offers exceptional returns on grocery and dining expenses, while the Amex Platinum card grants premium perks such as airport lounge access and multiple travel and shopping statement credits.

Discover the essential features of these top-tier American Express cards to determine which one is best for you or if it's worth obtaining both.

Annual fee

The American Express Gold Card has a $325 annual fee, while The Platinum Card from American Express has a higher $695 annual fee. Both cards do not charge foreign transaction fees.

Determining if the benefits of a card outweigh its cost is a crucial aspect of selecting the right card. While the Amex Platinum provides more value through its perks, it comes with a higher upfront expense and requires careful management to recoup that cost.

Welcome bonus

You can earn 80,000 Membership Rewards® points with the Platinum Card from American Express by spending $8,000 on eligible purchases in the first six months of membership.

Earning 60,000 Membership Rewards® points and receiving 20% back in statement credits on eligible purchases at restaurants worldwide are benefits of the American Express Gold Card. These rewards are available to new cardholders who spend $6,000 on eligible purchases within the first six months of membership. The offer ends on 11/6/24.

The Amex Platinum's welcome offer is more valuable than the other card's rewards, as it is worth $800 in airfare booked through American Express Travel and can be worth even more when transferred to Amex's travel partners.

The Amex Platinum's larger intro bonus is more challenging to earn as you need to spend $2,000 more and do it in three fewer months compared to the Amex Gold. To earn the bonus with the Amex Platinum, you must spend an average of approximately $2,667 per month for three months, while with the Amex Gold, you need to spend an average of $1,667 per month for six months to earn the bonus points.

Rewards

Both Amex Gold and Amex Platinum are highly rewarding for different types of purchases. While Amex Gold is a top choice for dining and grocery purchases, Amex Platinum excels in flight and hotel purchases.

The Amex Gold card provides a premium return on restaurant and U.S. supermarket spending, with an annual cap that is high enough to allow many individuals to earn a significant amount.

The Amex Platinum card offers increased return on airfare and hotels, but the qualifying bookings are limited. To earn the 5X points, you must book directly with the airlines or through Amextravel.com. Third-party sites do not qualify for the increased return, and only prepaid hotels booked through Amextravel.com earn 5X points.

Redemption options

Both Amex Gold and Amex Platinum cards offer flexible American Express Membership Rewards points that can be redeemed for various options such as gift cards, statement credits, purchases at select merchants, and travel booked through Amextravel.com. However, these options typically provide only 0.5 to one cent per point in value, which is not ideal.

The best redemption option for both cards is to take advantage of the top deals you can book with Amex's airline or hotel partners. You'll typically receive more value from your Amex points if you transfer them to the right airline partner and book expensive international flights. The Amex transfer partners include Delta Sky Miles, Air Canada Aeroplan, ANA Mileage Club, Emirates Skywards, and others. Regardless of which card you have, you'll have access to the same partners and transfer ratios.

Benefits

The perks offered by the Amex Gold and Amex Platinum cards make them shine. Both cards have a comprehensive list of benefits that justify their annual fees.

Amex Platinum cardholders can enjoy these perks and statement credits:

• Select prepaid hotel bookings offer up to $200 in statement credits, but a minimum two-night stay is required and some room categories are not eligible for upgrade.
• Your Card offers up to $200 in annual airline fee credit in statement credits after incidental fees are charged by your selected, qualifying airline.
• Up to $300 per calendar year Equinox credit (enrollment required)
• You can receive up to $100 in annual Saks Fifth Avenue credit in the form of statement credits (up to $50 back semi-annually; enrollment required).
• Enroll in CLEAR® Plus for up to $189 credit, which will automatically renew (excluding taxes and fees).
• Enrollment is required for up to $20 per month in digital entertainment credit, which can amount to a maximum of $240 annually.
• Up to $155 in annual credit with Walmart+, which is $12.95 per month plus applicable taxes on one membership fee. However, Ups are not eligible, and the membership is subject to auto renewal.
• Airport lounge access, including Delta SkyClubs and Amex Centurion Lounges
• Uber Cash and VIP status are available to Basic Card Members, with a maximum of $200 in Uber cash annually ($15 per month, $20 in Dec.).
• You can receive a $100 fee credit for Global Entry or up to $85 for TSAPreCheck every 4.5 years after applying for a five-year membership through a TSA PreCheck official enrollment provider.

In addition to the existing deals, you will receive Gold status with both Marriott Bonvoy and Hilton Honors (enrollment required; terms apply) as well as car rental privileges with Avis, Hertz, and National (enrollment required; terms apply). Furthermore, the Amex Platinum offers extensive shopping and travel protections*.

Amex Gold cardholders can enjoy these perks and statement credits:

• You can receive up to $120 in Uber Cash annually by using your American Express Gold Card as a payment method in the Uber app. To be eligible, you must have downloaded the latest version of the Uber app and have an American Express Gold Card. The Amex benefit can only be used in the United States.
• You can receive up to $120 in annual dining credits when you enroll, with $10 in statement credits per month for purchases at eligible restaurants such as Grubhub, The Cheesecake Factory, and Five Guys.
• The American Express® Gold Card offers up to $84 in annual Dunkin' credit ($7 in monthly statement credits after enrollment and payment at Dunkin' locations).
• You can receive up to $100 in annual Resy credit when you pay with the American Express® Gold Card at U.S. Resy restaurants or make eligible Resy purchases. This equates to $50 in statement credits every six months. Enrollment is necessary.
• Booking stays at The Hotel Collection properties through American Express Travel grants access to special benefits, including a $100 credit to use towards eligible charges, with a minimum two-night stay requirement. The credit amount may vary by property.
• *Access to the Amex Global Assist Hotline and Personalized Travel Service
• Baggage coverage and rental car loss and damage insurance are included in travel insurance.

The eligibility and benefit level vary by card, and there are terms, conditions, and limitations that apply. For more details, visit americanexpress.com/benefitsguide. This is underwritten by New Hampshire Insurance Company, an AIG Company.

The eligibility and benefit level for each card differ. Please refer to the terms, conditions, and limitations on American Express's website for more information. This coverage is underwritten by AMEX Assurance Company, and Car Rental Loss or Damage Coverage is provided through American Express Travel Related Services Company, Inc.

Reasons to get both cards

Both Amex Gold and Amex Platinum cards earn Membership Rewards points, making them a great combination for high rewards on dining, groceries, airfare, and prepaid hotels.

Accruing a substantial Membership Rewards balance is achievable, but it comes with a hefty annual fee of over $1,000 for both cards. With access to over $2,000 in statement credits annually, you'll have to manage multiple offers, many of which are brand-specific, require enrollment, or have strict redemption rules.

For heavy spenders who value rewards and are willing to go through the necessary steps to maximize them, having both cards could be beneficial. However, for most individuals, just one of these cards is sufficient.

Amex bank accounts to pair with these cards

If you want to simplify your financial life by keeping your card and bank accounts under one roof, American Express offers checking and high-yield savings account options.

The American Express® Rewards Checking account and American Express® High Yield Savings Account both offer valuable perks and do not charge monthly fees. The Rewards Checking account allows you to earn rewards for debit card purchases and has a 1.00% APY on your checking account balance, while the High Yield Savings Account provides a generous return on your cash.

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To view the rates and fees for the American Express® Gold Card, please click here.

To view the rates and fees for The Platinum Card® from American Express, please click here.