Points · American Express · $695 annual fee
Last verified 2026-09-09. Review issuer source

American Express Platinum Card for Schwab is a $695-a-year points card from American Express. Its best everyday rates are 5x on airfare; everything else earns 1x. The 5x rate applies only to prepaid hotels booked through amextravel.com, so treat it as a bonus rather than the reason to apply. Airfare is capped at $500,000 a year, then drops to the base rate.
On our reference budget of $24,600 a year its rewards come to $366, $329 short of the annual fee. That is normal at this price; the card only works if the perks replace spending you already do, or your bonus-category spending is far above a typical household's. The welcome bonus, 80,000 points after $8,000 in 6 months, is the strongest reason to open it in a given year.
Premium cards are a bet that you will use the credits. Count only the ones that replace spending you already do, then see whether the lounge access and what is left justifies the fee.
Cap: $500,000 per annual
5X Membership Rewards® points on up to $500,000 per calendar year on flights booked directly with airlines or with American Express Travel via AmexTravel.com or by calling 800-525-3355.
5X Membership Rewards® points on eligible prepaid hotels booked with American Express Travel, including The Hotel Collection.
You can earn 80,000 Membership Rewards® points after spending $8,000 in purchases on your Platinum Card® from American Express Exclusively for Charles Schwab in your first 6 months of Card Membership.
A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart, free same-day delivery of groceries from store (where available, subject to order minimum), & more. Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive a statement credit for $12.95 (plus applicable taxes) that covers the full cost (excluding any Plus Up Benefits) each month.
CLEAR® uses unique attributes, such as eyes or fingerprints, to digitally verify identity to help its members move faster through security at select airports nationwide. You can cover the cost of a CLEAR Plus membership7 with up to $189 in statement credits per calendar year after you pay for CLEAR Plus with your Platinum Card®.
Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Card or any of the Additional Cards on your Platinum Card account.
Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection1 bookings through American Express Travel using your Platinum Card®
With your The Platinum Card®, you'll receive $15 in Uber Cash to use on eligible orders with Uber Eats and rides with Uber in the US every month plus a bonus $20 in December5, delivered through an exclusive Uber app experience. That's up to $200 for Uber orders with Uber Eats and rides with Uber annually. You'll also become an Uber VIP, where available, without meeting minimum ride requirements and be matched with top-rated drivers, so that even a 5-minute trip can be a 5-star experience.
Experience the latest shows, music, news and recipes. Get up to $20 in statement credits each month when you use your Platinum Card® for eligible purchases on Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, SiriusXM, and The Wall Street Journal when you purchase directly from one or more of the providers. This can be an annual savings of up to $240. Plus, Platinum Card Members will get exclusive access to special perks from time to time.
Get up to $300 in statement credits each year when you pay for an Equinox+ digital subscription with live and on-demand classes, or an Equinox club membership (subject to auto-renewal) with your Platinum Card®.
Your Platinum Card® is your key to specially curated By Invitation Only® experiences. We customize once-in-a-lifetime events exclusively for our Platinum and Centurion Card Members, including Additional Centurion Cards. RSVP is required.
Getting into your Rental Vehicle can be the start of a great vacation. When you use your Eligible Card to reserve and pay for the Entire Rental and decline the collision damage waiver at the rental Company counter, you can be covered for Damage to or Theft of a Rental Vehicle in a Covered Territory. Please read important exclusions and restrictions. Not all vehicle types or rentals are covered. Coverage is not available for vehicles rented in Australia, Italy, and New Zealand. This product provides secondary coverage and does not include liability coverage.
Enjoy complimentary membership in premium car rental programs, including special upgrades and discounts.
Fixing a cracked screen can be expensive. With Cell Phone Protection14, you can be reimbursed for your cost to repair or replace your damaged or stolen cell phone, including a cracked screen, for a maximum of up to $800 per claim with a limit of 2 approved claims per 12-month period when your cell phone line is listed on a wireless bill and the prior month's wireless bill was paid by an Eligible Card Account. A $50 deductible will apply to each approved claim.
Why is it that as soon as a Manufacturer's Warranty runs out, something always seem to happen? Use your Eligible Card for Covered Purchases and you can have warranty protection for longer. Extended Warranty♦ matches the Original Manufacturer's Warranty for up to one additional year when you use your Eligible Card. Applies to warranties of 5 years or less on Covered Purchases in the United States or its territories or possessions.
Stay focused on getting where you need to go. Receive either a statement credit available every 4 years after you apply for Global Entry ($120) or a statement credit available every 4.5 years after you apply for a five-year membership through any Authorized Enrollment Provider for TSA Pre'® (up to $85) with an eligible Card. If approved for Global Entry, at no additional charge, you will receive access to TSA Pre'®. Each Additional Card on eligible Card accounts is also eligible for one statement credit for an application fee for a five'year membership every 4 years for Global Entry or every 4.5 years for TSA Pre'®. To receive the statement credit, the application fee must be charged on the eligible Additional Card.To read the full terms and conditions, visit www.americanexpress.com/expeditedtravel.
Your experience is everything — so create new memories with exceptional value. Explore over 1,500 properties worldwide and bask in benefits. When you book Fine Hotels + Resorts®‡ through American Express Travel, you can receive a suite of benefits with an average total value of $6008 in perks.
Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card to your Resy profile.
With the Global Dining Collection, you get special access to reservations and extraordinary experiences at restaurants that Platinum Card Members love, as well as the opportunity to meet some of your favorite chefs at exclusive culinary events.
As a Platinum Card Member, enroll to receive complimentary Hilton Honors Gold Status.
With Marriott Bonvoy Gold Elite status, you can receive upgrades to enhanced rooms upon check-in when available.
Platinum Card Concierge is available 24/7 to help with anything from assisting with special dinner reservations to finding the perfect gift - simply call the number on the back of your Card and say "Concierge"" when prompted or send your Concierge request to PlatinumRequests@concierge.americanexpress.com from the e-mail associated with your American Express account."
Platinum Travel counselors specialize in providing custom itineraries and tailored recommendations to help you make the most of your travels.
With Preferred Seating, you will have access to premium seats for select cultural and sporting events, based on availability. For more information, please visit americanexpress.com/entertainment.
When you travel more than 100 miles from home, we can provide you with 24/7 medical, legal, financial or other select emergency coordination and assistance services. Emergency medical transportation assistance may be provided at no cost, if authorized and arranged by Premium Global Assist Hotline. Card Members may be responsible for the costs charged by third-party service providers. Emergency medical transportation assistance may be provided at no cost only if approved and coordinated by Premium Global Assist Hotline.
Sometimes your favorite new purchase gets stolen, accidentally damaged, or lost. But when you use your Eligible Card for Covered Purchases, your Membership can help protect them for up to 90 days from the Covered Purchase date.
With Return Protection, you may return eligible purchases to American Express if the seller won't take them back up to 90 days from the date of purchase.
You can receive: (1) a $100 Card statement credit if your qualifying Schwab holdings are equal to or greater than $250,000 and less than $1,000,000; (2) a $200 Card statement credit if your qualifying Schwab holdings are equal to or greater than $1,000,000 and less than $10,000,000; or (3) a $1,000 Schwab Appreciation Bonus if your qualifying Schwab holdings are equal to or greater than $10,000,000, in each case when measured following Card account approval and annually thereafter.
Get free 2-day shipping13 on eligible items at a growing network of 100+ online stores with ShopRunner. Enroll in complimentary membership as a benefit of your eligible Card.
Bring the experience of SoulCycle home with you. Get a $300 statement credit11 after you use your Platinum Card® to purchase a SoulCycle at-home bike.
Discover a sanctuary in the airport. Welcome to The Centurion® Lounge. From the moment you walk in, you'll see that this isn't the usual airport lounge. Unexpected touches like a locally-inspired fare meet productive workspaces, high-speed Wi-Fi and service that's second to none. And of course it's complimentary for Platinum Card® Members.
The American Express Global Lounge Collection® can provide an escape at the airport. With more than 1,300 airport lounges across 140 countries and counting, you have more lounge options than any other credit card on the market. As of 8/2020.
Delight your senses when you book The Hotel Collection with American Express Travel. Get a $100 experience credit for qualifying activities like dining or spa treatments. Minimum 2-night stay required to be eligible for the benefit. Experience credits vary by property.
Despite our best efforts, sometimes things happen that are out of our control. If you purchase a round trip entirely with your eligible Card on or after January 1, 2020, and a covered reason cancels or interrupts your trip, Trip Cancellation and Interruption Insurance can help reimburse your non-refundable expenses purchased with the same eligible Card, up to $10,000 per trip and up to $20,000 per eligible Card per 12 consecutive month period. Terms, conditions and limitations apply. Coverage is provided by New Hampshire Insurance Company, an AIG Company.
Booking the trip is easy. Avoiding delays is next to impossible. If a round-trip is paid for entirely with your eligible Card on or after January 1, 2020, and a covered reason delays your trip more than 6 hours, Trip Delay Insurance can help reimburse certain additional expenses purchased with your same eligible Card, up to $500 per trip, maximum 2 claims per eligible Card per 12 consecutive month period. Terms, conditions and limitations apply. Coverage is provided by New Hampshire Insurance Company, an AIG Company.
Benefit descriptions are the issuer’s and network’s own wording, trimmed for length. Limits and exclusions are in the guide to benefits.
The Global Lounge Collection - The American Express Global Lounge Collection® can provide an escape at the airport, with more than 1,400 airport lounges across 650 cities in 140 countries and counting
| Card | Annual fee | Rewards earned | Net after fee | Rank |
|---|---|---|---|---|
| American Express Platinum Card® for SchwabThis card · 5x on airfare | $695 | $366 | −$329 | 1278th of 1,291 |
| American Express® GoldAmerican Express's most-held other card · 4x on dining | $325 | $594 | +$269 | 547th of 1,291 |
| Savor RewardsThe strongest no-fee card on this budget · 3% on dining | None | $642 | +$642 | 4th of 1,291 |
| Robinhood Gold CardHighest net return on this budget · 3% on everything | $50 | $798 | +$748 | 1st of 1,291 |
Reference budget: groceries $6,000, dining and restaurants $3,600, gas and ev charging $2,400, travel and transit $3,000, online shopping $2,400, entertainment and streaming $1,200, everything else $6,000. Points are valued at 1¢ unless the program is worth less; statement credits, welcome bonuses, and perks are left out. Run it with your own spending.