Is the Amex Platinum Still WORTH IT In 2026?
•February 21, 2026
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Why It Matters
Understanding the true ROI of the Amex Platinum helps affluent consumers decide whether the steep fee is justified, influencing premium card market competition and personal finance strategies.
Key Takeaways
- •Annual fee rose to $895, highest mainstream premium card.
- •New credits: $600 hotel, $400 restaurant, $300 Lululemon.
- •2025 useful credits covered most of $695 fee, net profit $360.
- •Projected 2026 value $1,066 after fees using full credits.
- •Referral credits inflate value but aren't realistic for average users.
Summary
The video examines whether the American Express Platinum card remains a worthwhile purchase in 2026 after American Express lifted the annual fee to $895 and added a suite of new credits.
Ben Hedges breaks down his 2025 activity: $10,140 total spend, 27,216 Membership Rewards points (valued at $270 at 1¢/point), and a mix of useful and unused credits. He calculates $359 net profit using only truly useful credits, $1,149 when counting all credits, and $2,489 including referral bonuses.
He highlights specific credits—$20‑$25 monthly digital entertainment, $15 Uber Eats, $75‑$150 Lululemon, $86.39 Saks, and $200 hotel and restaurant credits that went unused in 2025. He also notes lounge access valued at $105 and the impact of referrals generating $900 in statement credits.
The analysis shows that if cardholders fully leverage the expanded $600 hotel, $400 restaurant, and $300 Lululemon credits, the 2026 net value can exceed $1,000 after the $895 fee, making the card viable for consumers who can meet the spend thresholds. Those unable to use the new credits may still break even but should weigh the high fee against alternative premium cards.
Original Description
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