Luxury Credit Card Case Study: Do the Benefits Justify the High Annual Cost?

Frank McBride • September 3, 2026

A walk through one household's use of the Amex Platinum card

I have now held an American Express Platinum card for one year and with that one-year anniversary comes . . . the bill for the $895 annual fee. And, in a few months, the bill for an additional authorized user card will come due (another $195). The realization that I am spending $1090 every year on one credit card account made me think about the actual value that I am getting out of this card. So, I decided to dig into the monthly statements that I have received so far in 2026 to see just what the four-figure annual cost of this card is doing for my household.


What follows are details of how my household has used various credits and benefits that come with the American Express Platinum card. For each category, I will provide what I call the “putative value” – the value that Amex tells me I am getting – and the value that I believe I am actually getting.  


Airport Lounges


So far this year, Ms. Optimizer and I have jointly made a total of 15 airport lounge visits. Such lounge visits are often described as being valued at $50 or more per visit or per day. However, not all lounge visits are created equal. Few travelers would pay $50 to quickly stop in a lounge for a cup of coffee and a brownie. At the same time, a lounge visit could include a well-crafted cocktail and a multi-course dinner that would surpass the overpriced and mediocre offerings in the terminal. While the putative value of these 15 visits would be $750, I would be inclined to price them at half that value.


  •  $375 (through the end of August)


RESY Dining Credits


These $100 per quarter credits for dining at restaurants on the Resy reservation platform have been a great addition to the Platinum card benefits for us. We eat out at restaurants on this platform at least once a quarter and our area has a large number of participating restaurants to choose from. These credits are very easy to use, and each is worth the full $100.


  • $300 (through the end of August)


Digital Entertainment Credit


The Platinum card covers $25 a month for select digital entertainment when paid for with the card. Participating media include the New York Times, the Wall Street Journal, and streaming services like Disney+ and ESPN. Because this credit can be applied to existing subscriptions for our household, we are getting full value for this benefit.


  • $200 (through the end of August)


Miscellaneous Airline Fees


The Platinum card covers up to $200 in miscellaneous airline fees (i.e. purchases other than tickets) for one airline that you select. We often buy the cheapest economy class tickets (that do not allow seat selection) and then use these flexible airline fees to purchase the seats we want. Because we would still be assigned a seat at some point if we did not pay for seat selection, I value this benefit at one-half of its putative value.


  • $100 (full credit has been used)


Global Entry / TSA Precheck Fee


The Platinum card will cover the cost of a Global Entry fee ($120) or TSA Precheck fee ($85) every four years. While I received the full value of this credit for this year, I cannot use it again until I renew my Global Entry.


  • $120 (full credit has been used)


Lululemon Credit


The Platinum card provides four quarterly credits of $75 each with Lululemon. We have made some purchases because this is a benefit of the card, but probably would not have otherwise. I value this benefit at one-half of what we have spent with Lululemon ($93).


  • $46 (through the end of August)


Saks Fifth Avenue Credit


Before July of this year, the Platinum card offered a $50 semiannual credit for purchases with Saks Fifth Avenue. With Saks declaring Chapter 11 bankruptcy, this credit has disappeared. This discount could save you a bit if you were in the market for a $1000 Versace beach towel or other premium priced items. I used this credit for a small purchase before it disappeared and would estimate its value to me at $25.


  • $25 (RIP)


Miscellaneous Discounts and Credits


We have been able to use a few small discounts here and there as well as an occasional $15 per month credit for Uber rides. I consider them full value as these are purchases we would have made anyway. I estimate their value at:


  • $50 (through the end of August)


Bottom Line


Through August, the Amex Platinum card has been worth a little over $1200 to our household against an annual cost of $1090. I feel like we have come out ahead. And, of course, there are four more months in the year. At the very least, we will be using one more $100 quarterly credit for  Resy dining and $100 in total for the four monthly digital entertainment credits pushing the card’s value to at least $1400.


At $1400+ in actual value to us per year, Ms. Optimizer and I would be inclined to keep this card going forward. A few years ago, the Platinum card was geared toward air travel, but its new benefits and credits have made it a more well-rounded card. Nonetheless, half of the value we have gotten from this card this year has been air travel related. If our air travel dropped significantly (Ex: COVID) the benefits would not justify the annual fee. But for now, I will cheerfully pay the annual fee for another year and hope the card proves to be as valuable as in the past.


Like many travel related credit cards, the Amex Platinum can be worthwhile for some people but a wasteful extravagance for others. When we create your customized Travel Rewards Optimizer plan, we make sure that our recommendations fit your travel goals and lifestyle. The credit card should work for you rather than you working for the card issuer.


We are ready to help you turn your routine credit card spending into the travel of your dreams.

Travel Rewards Optimizer Pre-Labor Day Wrap Up

By Frank McBride • September 4, 2026
In case you missed them, here is your "one-stop shopping" for posts from the past week. For some, recent changes with the Resy restaurant reservation platform might limit dining options when using the credit. Learn more here . Perhaps your next US domestic award flight should be booked through . . . Air France. Check out why . The Amex Platinum card might have the highest annual fee for mass marketed cards. Find out if the benefits are worth it for my household here . Hope you have a great Labor Day weekend!! We are ready to help you turn your routine credit card spending into the travel of your dreams.

Flying “Air France” Domestically in the United States

By Frank McBride • August 28, 2026
For some domestic flights, Air France might save transferable miles

Double Check Restaurants If You Are Using American Express RESY Credits

By Frank McBride • August 27, 2026
Recent changes in the Resy reservations platform might limit use of the Amex dining credit

Chase Sapphire Preferred Changes Ratio for Transfer of Ultimate Rewards Points to World of Hyatt Points

By Frank McBride • June 25, 2026
Changes are a mixed bag but Hyatt regulars won't be happy

Travel Rewards Optimizer April / May Wrap Up

By Frank McBride • June 5, 2026
Some good news in points and miles (and one warning)

Air France / KLM Flying Blue Program Liberalizes Expiration Policy for Miles

By Frank McBride • May 29, 2026
A change in favor of airline passengers (for a change)

The Wells Fargo Autograph Journey Card Adds More Transfer Partners

By Frank McBride • May 19, 2026
The Autograph Journey's transfer partner list grows slowly but steadily

Points and Miles Case Study: Prague, Budapest, and Malta

By Frank McBride • April 29, 2026
Points and miles free up the travel budget for pilsner, paprika, and pastizzi*

Just Say "No" to Dynamic Currency Conversion

By Frank McBride • April 23, 2026
As the summer travel season approaches, this is a friendly reminder to avoid "dynamic currency conversion" (DCC) when making credit card purchases outside of your home country. DCC gives you the option of selecting a payment amount in your home currency rather than in the local currency. Typically, when presented with a credit card reader at a shop or restaurant, the touch screen will show purchase amounts in the local currency and in US dollars (for those with American credit cards) and you have the opportunity to choose. I have been seeing these “offers” for several years now and have learned, after doing a little mental math, they are almost always a bad deal for the purchaser. When presented with a credit card reader, I always choose to pay the amount shown in local currency rather than the amount shown in US dollars. During a recent trip, I was making purchases in Euros, Hungarian Forints, and Czech Korunas. From what I could tell, the option of paying in dollars inflated the cost of the purchases around an average of five percent (5%). Once, a card reader screen acknowledged that making the purchase in dollars added an eight percent (8%) fee. Even a credit card with a foreign transaction fee (which you should avoid using when traveling abroad) would have added only three percent (3%) to the tab. Currency games aside, Visa and MasterCard offer reasonable exchange rates when you choose to pay in the local currency. Upon returning home, our credit card statements showed exchange rates that were quite close to market rates. It is reasonable and fair for the credit card issuers make a fraction of a percent here and there as they are performing a service and accepting currency risk (although very briefly). But, claiming to offer a “preferential” rate to pad their bottom line is disingenuous. Because exchange rates are reasonable, using credit cards while traveling abroad is still worthwhile for a points and miles program as long as you avoid cards with foreign transaction fees. Travel oriented cards can offer 2X and 3X spending bonuses for transportation and restaurants to give you a leg up on saving money and accumulating points or miles for your next vacation.

Beating the Delta Sky Club Lines at Atlanta International Airport

By Frank McBride • October 2, 2025
I have read a great deal recently about crowding at airport lounges or even lengthy waits to get into lounges. Hartsfield-Jackson Atlanta International Airport, dominated by Delta Airlines, has eight Delta Sky Clubs (there is one in each of the airport’s seven concourses except for Concourse A which has two). Even with the wide availability of Sky Club options, many of the Atlanta locations still get crowded and can have long lines of travelers waiting to get in. Despite flying Delta through Atlanta many times in the past couple of months, Ms. Optimizer and I have avoided this problem. We have used the Fly Delta app to keep us apprised of which Sky Clubs are crowded, and which are relatively empty. Although we might prefer a Sky Club near the gate we will use for our next flight, we often use a Sky Club on an adjacent concourse if the Sky Club closest to our gate is crowded or has a line. The Atlanta International Airport has a straightforward configuration of parallel concourses starting with Concourse T, followed by Concourses A through F. These seven concourses are connected by the Plane Train. The Plane Train can transport you between adjacent concourses in about a minute. Or, if you want to get in some steps, you can walk to an adjacent concourse in about five minutes (less if you use the moving sidewalk). The walkways are below ground level and can be accessed where you get on the Plane Train. The Fly Delta app is easy to use for assessing Sky Club capacity. When you arrive in Atlanta, go to the Delta Sky Club tab (it has a cocktail glass icon) and open. It will open to a list of the Atlanta Sky Clubs and describe their status ranging from “extremely busy” to “not busy.” Even if you can get into an “extremely” busy Club, bear in might that you might be the last person who brings the Club to full capacity. We have found that a short walk to the next concourse is well worth it as a less busy club offers a better choice of seating and a more relaxed atmosphere (and less likelihood of lines at the buffet, bar, coffee machine, etc.). But, don’t forget to budget enough time to return to the concourse with your departure gate!! We are ready to help you turn your routine credit card spending into the travel of your dreams.