If you’re debating between the American Express® Gold Card and The Platinum Card® from American Express, you’re probably not opposed to paying an annual fee in exchange for higher earnings rates and perks. How much more—and what you’ll get in return—is the question you’ll need to consider before choosing between these two cards.

Here’s the pros and cons of each card and who is most likely to benefit from holding one card over the other. When all is said and done, you should have a better idea of which of these two stellar options is the best choice for you.

Welcome Bonuses

The welcome bonus is one major difference between these two cards, but how big of a difference the offer is between these two cards will vary.

New Amex Gold cardholders can net a welcome bonus that’s usually between 35,000 and 60,000 Membership Rewards points. Although, it’s not unheard of to get a targeted offer with Amex that is higher.

With the Amex Platinum, the public bonus offer regularly reaches 100,000 Membership Rewards points—in other words, nearly double the ceiling you’ll see with the Gold. It’s sometimes possible to find Amex Refer-a-Friend or targeted offers for up to 150,000 Membership Rewards points after hitting minimum spending requirements.

Like with the Gold card’s bonus, the Platinum’s bonus jumps around over time, usually ranging between 60,000 points and 100,000 points.

free checked bags

Annual Fees

Perhaps the biggest difference between the two cards—and one that’s likely a major sticking point for many consumers—is the cards’ annual fees.

At $250 (see rates & fees), the Amex Gold is already priced higher than some of the most popular points-earning cards on the market, as lower-tier cards tend to fall into the $95-per-year range, but it’s still decidedly a mid-range card.

The Gold’s annual fee is nowhere near that of the Platinum’s, which at $695 (see rates & fees) is the priciest card on offer to most Amex consumers. It’s tied only by The Business Platinum Card® from American Express (see rates & fees) and topped only by the invite-only Amex Centurion.

As anyone familiar with premium travel credit cards knows, annual fees aren’t always what they seem. American Express, in particular, loves to stack credits that, when used, can help make up for a large chunk of the card’s annual fee. Both the Gold and the Platinum carry such credits.

Earning Points: Gold Card vs. Platinum

Another area where the Amex Gold Card might have an edge? Earning points on regular spending.

With the Gold Card, you’ll earn 4X Membership Rewards points at U.S. supermarkets (up to $25,000 each year, then 1X thereafter) and at restaurants worldwide (plus takeout and delivery in the U.S.).

Those are pretty useful bonus categories for most consumers, considering that the vast majority of people buy food in one form or another. These categories may be particularly useful for foodies or people with larger families who may tend to spend more than average in these categories.

But the bonus points with the Gold aren’t limited to food. You’ll also net 3X points per dollar when you book flights directly with an airline or through Amex Travel, as well as the standard 1X point per dollar on all other purchases.

All told, the opportunities to earn a points multiplier with the Gold Card are plentiful and span multiple categories, which isn’t the case for the Amex Platinum, which offers bonus opportunities under the travel umbrella only.

With the pricier Amex card, you’ll earn 5X points per dollar when you book flights directly with an airline or via Amex Travel (on up to $500,000 of these purchases per calendar year, 1X after that), 5X points on prepaid hotels booked through Amex Travel and 1X point on all other purchases.

airfare purchased directly from airlines

Clearly, there’s some overlap here. Both cards reward consumers for flight purchases. But while the Platinum offers a 5X multiple instead of the Gold’s 3X, you’d have to buy quite a few flights (or book a lot of prepaid hotels, something people aren’t necessarily keen to do during the COVID-19 pandemic era) to declare the Platinum a better earner.

Redeeming Points: Membership Rewards

When it comes to using your points, you’ll have the same options no matter which of these two cards you choose. You can redeem your Membership Rewards points through Amex Travel, although doing so will net you just 1 cent per point. That’s not considered a great use of points, as you can get far greater value by transferring to one of a number of Amex travel partners.

Virgin Atlantic Airways

Virgin Atlantic

Air France-KLM Flying Blue

British Airways

American Express boasts a solid list of partners, including airlines that can get you all over the world. Air France-KLM Flying Blue, British Airways Executive Club and Virgin Atlantic Flying Club are just a few of the programs you can transfer your points to, whether you opt for the Gold or the Platinum version of the card.

Hot Tip

Some of Platinum’s best features have nothing at all to do with earning and using points and miles, but rather with a host of credits and perks that can vastly improve your travel experience from door to door.

Other Benefits and Perks

If you’ve read this far and are thinking, “OK, aside from a larger welcome bonus, why would I choose the Amex Platinum?” then this section is for you.

Some of the Platinum Card’s best features have nothing to do with earning and using points and miles, but rather with a host of credits and perks that can vastly improve your travel experience from door to door.

Let’s start with the benefits the two cards share. Both cards don’t charge a foreign transaction fee, making either card a solid international travel companion. However, you may find that American Express cards are not accepted as widely as Visa or Mastercard overseas.

On the travel side, both cards also offer secondary rental car insurance and baggage insurance (the Platinum Card offers better coverage of up to $2,000 per checked bag and up to a combined maximum of $3,000 for checked and carry-on baggage).*

When it comes to shopping, both cards come with an extended warranty on consumer goods and purchase protection for 90 days that will cover you if an item is damaged, lost or stolen. The Amex Platinum once again goes one step further by offering return protection for eligible items sellers won’t take back as long as you file your claim within 90 days of purchase.*

The Platinum Card also offers cell phone protection when you pay for your cell phone bill each month with the card.*

Purchase-Protections-and-Extended-Warranty

Entertainment benefits are also comparable, with both cards sporting access to ticket presales and preferred seating that can help get you coveted spots at high-demand concerts or sporting events. The Platinum Card, unsurprisingly, offers a couple of other benefits in this arena, too, with invitation-only events for cardholders, custom culinary events and experiences, and access to the Amex Concierge, which can help out with tasks ranging from making reservations or procuring tickets.

That’s where the similarities end and the American Express Platinum Card—spoiler alert—runs away with this competition.

The Amex Platinum Card packs in VIP status and the following perks:

  • Up to $200 in annual Uber Cash credits ($15 each month, with a $20 bonus in December)
  • Up to $200 annual airline incidental fee credit (enrollment required)
  • Up to $200 annual credit for a prepaid hotel stay booked through Fine Hotels & Resorts or The Hotel Collection (2 night minimum stay required)
  • Application fee credit for Global Entry ($100) or TSA PreCheck ($85): Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
  • Up to $189 CLEAR® Plus membership credits
  • Up to $100 in Saks Fifth Avenue credits ($50 January through June and another $50 July through December)
  • Up to $300 annual Equinox credit, enrollment required, issued as a statement credit
  • Up to $240 annual digital entertainment credit valid for purchases or subscriptions with The New York Times and Peacock, issued as a statement credit up to $20 each month, enrollment required
  • Access to Amex’s network of Centurion Lounges
  • Priority Pass access, enrollment required
  • Access to Delta Sky Clubs when flying Delta same day
  • Gold Elite status with both Marriott and Hilton, enrollment required
  • International Airline Program – discounts on premium cabin flights
  • Elite status with Hertz, Avis and National, enrollment required

That’s not to say the Gold doesn’t offer credits of its own. It comes with a $120 dining credit—up to $10 each month—for purchases from Grubhub, Seamless, The Cheesecake Factory, Ruth’s Chris Steak House, Boxed and participating Shake Shack locations. Cardholders are also eligible for $10 in Uber Cash credits each month, which can be used for Uber rides and Uber Eats orders in the U.S.

For travel, it boasts the same $100 Hotel Collection credit that the Platinum Card does.

But with a Platinum Card that’s so stacked, it’s hard for any card—not just the Amex Gold—to hold a candle to it in the perks department. That said, if you’re not sure that you’re going to use these credits or if you’re getting a product or signing up for a service just because of a credit, discount what the credit is worth from face value.

The Centurion Lounge

Photo Credit: The Centurion Lounge

Which One Is Right for You?

As you can see from that lengthy list of benefits, the Amex Platinum is meant to take the entire travel experience to the next level.

From blitzing through security (Global Entry, TSA PreCheck and Clear credits) to enjoying lounge access (Centurion Lounge, Plaza Premium, Delta Sky Club and Priority Pass access) to taking advantage of better seats, free checked bags or other in-flight perks (airline fee credits), there are few aspects of travel that holding the Platinum won’t enhance. And there are a ton of non-travel consumer focused perks, too.

If both cards sound appealing, keep in mind that there's no restrictions on having both the Gold and the Platinum cards. There's nothing stopping you from choosing both cards if that fits your needs.

If you’re not a frequent traveler, these perks may not matter to you—and the flight-centric earnings structure may not do much for you, either. While you may be able to take advantage of enough of the other credits for the card to make sense, it’s far from a guarantee. You may not be left with a compelling reason to lay down $695 for a card.

Those who travel less frequently and those looking for surefire ways to ensure they’re getting a great return on spending should take a hard look at the American Express Gold Card, which makes it easy to rack up points on everyday expenses with dining and grocery bonuses. You’ll still be able to take your travel experience up a notch a couple of times per year with hotel and airline credits, all the while working steadily toward your next free trip by earning valuable Membership Rewards points.

If both cards sound appealing, keep in mind that there’s no restrictions on having both the Gold and the Platinum cards. There’s nothing stopping you from choosing both cards if that fits your needs.

food-purchase

Final Thoughts

While $695 is undoubtedly a lot to fork over annually for a card, if you can make use of the extensive list of credits and perks, the Amex Platinum can easily pay for itself.

You won’t find a readily available consumer card out there with the same ability to transform your travel experiences, and if you can jump on a 100,000-point (or higher) welcome bonus, it’s all the more reason to go for it.

For those less focused on travel, the Amex Gold Card represents a compelling option. For (well) less than half the annual fee, you’ll be collecting points rapidly and effortlessly on food-related purchases, putting you well on your way to a free trip when the time is right while still hanging onto a few travel benefits.

*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc. Baggage insurance is underwritten by AMEX Assurance Company.

Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one-way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on Baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered

Purchase date. The coverage is limited up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

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. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.