We know what you’re thinking: Why pay a high annual fee for two cards that earn the same type of points? Well, it’s totally worth it for us (and many others).
Indeed, the total price tags above $1,200 American Express Platinum Card® and American Express® Gold Card Can face it. However, the income rates and allowances on these cards vary widely.
If you want to speed up your income, maximize card benefits and protect your purchases, it makes sense to hold platinum and gold cards. There are four reasons why.
Earn two welcome bonuses
In your first year of owning a card, welcome bonuses are one of the most valuable benefits, if not the most valuable benefits. Between these two cards, you can earn up to 275,000 bonus membership bonus points:
- Amex Platinum: Find out your offer and see if you are eligible for up to 175,000 bonus points after spending $8,000 in the first six months of card membership. (Welcome offers vary, you may not be eligible for an offer.)
- Amex Gold: Find out your offer and see if you are eligible for up to 100,000 bonus points after spending $6,000 in the first six months of card membership. (Welcome offers vary, you may not be eligible for an offer.)
TPG’s September 2025 valuation of PEG American Express membership bonus points are 2 cents, which means that the welcome bonuses for these mergers are worth up to $5,500.
There are several application restrictions to note:
- You can only have a welcome offer for each card once a year.
- It is better to apply for gold first and then apply for platinum; on the contrary, if you do, you may not be eligible for a welcome offer for gold.
Related: Complete Guide to Amex’s Millennium Limits
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Accelerate your income
You can earn thousands of points each time you buy it every year. The general guide is to use:
Let’s dig into the numbers.
Booking a flight with Platinum, you will earn 5 points directly with the airline or American ExpressTravel®*, while each dollar is spent on Amex Gold.
For prepaid hotels booked through Amex Travel, Platinum is once again ideal for you, earning 5 points per dollar instead of spending just 2 points per dollar with Amex Gold.
You will then need to use Amex Gold for US supermarkets and catering. You will earn 4 points on global restaurants and our supermarkets***. With Platinum, you can only earn 1 point in these categories.
*You can purchase up to $500,000 per calendar year, then 1 point per dollar
**Purchase year up to $50,000 per calendar year, then 1 p.m. per dollar
***Purchase year up to $25,000 per calendar year, then 1 point per dollar
Related: How to Earn Over 300,000 Points per Year
Maximize statement credit
Both cards offer annual statement credits that can put hundreds or thousands of dollars back into your pocket.
Amex Gold’s $325 annual fee (see Fees and Fees) is well above a declared credit line of up to $424, which are mainly concentrated on catering, including:
- Semi-annual U.S. return statement credit of up to $50: Use up to $100 per year in a calendar year for a maximum of $100 per year in Resy-affiliated US restaurants; no reservation required
- Meal statement credit of up to $10 per month: Up to $120 per calendar year for select businessmen like five guys and grubhub
- Uber cash up to $10 per month^: Uber rides or Uber Eats orders can reach up to $120 in the United States
- Dunkin’s statement credit for up to $7 per month: Locations in Dunkin, USA, up to $84 per calendar year
Registration is required.
^Uber cash is deposited into only one Uber account when you redeem a qualified AMEX card as a payment method and redeem it with any Amex card.
Meanwhile, as long as you maximize all of this, Amex Platinum’s high $895 annual fee (see Fees and Fees) can be offset by its stated credit. If you use all points, the value is over $3,500. Most are travel and lifestyle-centric, and some of our favorites are:
- Semi-annual hotel statement credit limit of up to $300 per calendar year: Up to $600 per calendar year, offsetting prepaid reservations at Amex Fine Hotels + Resorts or hotel collections (THC at least two nights stay)
- Annual clear plus stated credit for up to $209 per calendar year: Cover your annual clear plus membership (if automatically renewed)
- Annual Air Fee Statement Letter of Credit for up to $200 per Calendar Year: With a qualified airline of your choice
- Annual URA statement credit limit of up to $200 per calendar year: This credit can only be applied to hardware purchases rather than subscriptions
- Up to $155 per calendar year Walmart+Declared Credit: Walmart+ includes Paramount+ or Peacock, so don’t use your digital entertainment credit in your subscription. Paramount+ or Peacock subscription requires separate registration
- Up to $120 per calendar year UBER ONE member credit: A maximum of $120 declared credit limit for automatic updates of $96 annually or $9.99 monthly membership
- Quarterly Resy Statement Credits up to $100: Each calendar year can be used at most in bustling restaurants in the United States
- Up to $75 Quarterly Lululemon Statement Credit: Valid in US stores (excluding stores) and online; up to $300 per calendar year
- Semi-annual SAKS Statement Credit of up to $50: Use up to $100 per year in SAKS Calendar Year
- Digital Entertainment Statement Credits up to $25 per month: Up to $300 per calendar year for subscriptions to streaming platforms, including Disney+, Disney+ Bundle, Paramount+, Peacock, YouTube Premium and YouTube TV subscriptions
- Uber cash of up to $15 per month^: For Uber rides or Uber eating orders in the U.S.; bonuses can be up to $20 in December (total of up to $35 in the month); maximum $200 per calendar year
Registration required for several credits; terms apply.
Plus, if you travel a lot, qualified Amex Platinum cardmembers will get unrivalled lounge access to the global lounge range. Between the lounge access at Amex Platinum and the statement credits offered on two cards, the two cards create an excellent combination.
Related: American Express Gold vs. American Express Platinum: Which one is right for you?
Protect your purchases and travel
Both American Express Platinum and Gold Cards offer extended warranty and purchase protection benefits.
However, the Amex Platinum card has more comprehensive protection advantages, especially for frequent customers, while the Amex Gold card offers more limited coverage.
Amex Platinum offers shopping and travel protections (but without Amex Gold) include:
- Mobile phone protection*
- Emergency medical transport (if coordinated by welfare administrators)
- Travel Cancellation and Interrupt Insurance*
- Trip delay insurance*
- Car rental loss and damage insurance coverage is higher**
*Qualifications and income levels vary from card to card. Terms, conditions and limitations apply. For more information, visit AmericaneXpress.com/benefitsguide. The policy is insured by AIG New Hampshire Insurance Company.
**Qualifications and income levels vary from card to card. Terms, conditions and limitations apply. Please visit AmericaneXpress.com/benefitsguide for more details. Undertaken by Amex Assurance Company. Provides car rental loss or loss coverage through American Express travel-related services.
When it doesn’t make sense
Hold both Amex Platinum and Amex Gold It may not be cost-effective for everyone. Consider the following:
- Lounge entry: If you rarely use the airport lounge or spend enough money on platinum to unlock guest access, you may not get enough value from the card.
- Grocery Purchase: If you shop primarily at large retailers like Walmart or Target, or through grocery delivery services that don’t act as a “supermarket” code, you may not receive reward points in gold in these categories.
- Declare points: Assess whether you have already spent on services like GrubHub and Uber, you will receive a declared credit limit. If not, you may end up spending “saving money” unnecessarily.
Bottom line
The lower annual fees and reward points for Amex Gold card for catering and groceries may be suitable for many users, and the higher fees for Platinum card are worth it for those who can maximize their travel allowance.
Combining these two cards together can improve your AMEX point balance, improve travel and offset your spending on buying lifestyles.
To learn more, read our full review of Amex Platinum and Amex Gold.
Apply here: Amex Gold
Apply here: Amex Platinum
For Amex platinum rates and fees, click here.
For Amex Gold Card rates and fees, click here.
