The American Express Platinum Card® has long been synonymous with luxury Travel benefits, premium lifestyle benefits, and a truly elite rewards program. Yet too many new cardholders overlook key details that limit the true value of their card. Whether you just got the Platinum Card yourself or are considering applying, take a minute to read through this article to understand how to use it wisely and make every dollar count.

Here are five common mistakes new Amex Platinum cardholders make, and how to avoid them to get the most from your membership.

Strategy of Ignoring the Welcome Bonus

One of the biggest missed opportunities with the Amex Platinum Card arises from hurried applications. This is mainly because, unlike most credit cards, American Express issues personalized welcome bonuses-meaning two people applying for the same card could have very different bonus offers.

Before applying, see your personalized offer using American Express' pre-approval tool. You can get an idea of how many points you qualify for, up to 175,000 points after $8,000 in spending in the first six months, without dinging your credit score. The only hard inquiry pulled is when you're approved and accept the offer, which may slightly lower your score.

Pro Tip

If you don't like the size of the welcome bonus on offer, wait. American Express tends to refresh its promotions throughout the year, and a higher bonus could save you thousands of points in travel value later.

Failure to understand the annual fee

Yes, the annual fee of $895 on the Amex Platinum Card has to be a form of sticker shock for many applicants. It's not just a fee, but rather buying a premium membership full of value that can outweigh its price many times over, provided it's used strategically.

Think of it this way: this is an elite club-one whose privileges include airport lounge access, hotel upgrades, statement credits, and elite travel benefits. Frequent travelers could easily reap value that far surpasses the annual fee.

It usually credits on your first statement upon approval and then occurs annually on the same date. You can set reminders to pay the full balance of your statement every month so that you can avoid any late fees or interest.

Quick Tip

You might set up the annual renewal date for your card to fall directly at the end of your travel season so you can make immediate use of airline incidental credit and hotel statement credits when they reset each year.

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Passing on Key Benefits

So the biggest mistake most cardholders make with the Platinum Card is that many of the best perks aren't automatically activated. To get rewards like your Uber Cash credit, digital entertainment credit, or CLEAR Plus credit, you have to actively enroll in them through the Amex website or through its mobile app.

When your card arrives, allow yourself 10-15 minutes to go through the section entitled "Benefits" in the Amex app, which will walk you through step-by-step how to activate each reward, from travel and dining credits to shopping and entertainment credits.

Must-Enroll Benefits to Activate:

• $200 Airline Fee Credit: Use toward checked bags, seat fees, and inflight refreshments on one airline you choose.
• $300 Digital Entertainment Credit: A monthly credit toward Disney+, Hulu, Peacock, The Wall Street Journal, and more.
• $200 Uber Cash + $120 Uber One Credit: Use for rides or food orders in the U.S.
• $400 Resy Dining Credit: Earn $100 in statement credits every quarter on dining at eligible Resy restaurants.
• $300 lululemon Credit: $75 per quarter toward U.S. purchases online or in-store.
• $209 CLEAR Plus Credit: Covers an annual CLEAR Plus membership for expedited airport security.
• $100 Saks Fifth Avenue Credit: split between $50 from January–June and $50 from July–December.

Once signed up, the app keeps tabs on your usage under "Benefit Activity" so you never miss out on rewards.

Lack of understanding of benefits and credits

The real value in the Platinum Card comes from knowing how-and when-to use its many benefits. Every credit and every perk has some sort of attached timeframe and condition. Miss those small details, and you're leaving real money on the table.

Here's how to make the most of some of the biggest perks:

Hotel Credits and Elite Access

You can expect perks like free breakfast, room upgrades, and 4 p.m. late checkout with bookings through Amex Fine Hotels + Resorts. You'll also get 5X Membership Rewards® points on prepaid bookings, plus up to $600 in annual statement credits.

Prefer shorter stays? Then consider The Hotel Collection, which only requires a two-night minimum stay to earn up to $300 credit every six months. 

Airport Lounge Access

With the Platinum Card, you have access to over 1,550 lounges worldwide, among them the Amex Centurion Lounges, Delta Sky Clubs, and Priority Pass lounges, where enrollment is required for Priority Pass. 

But business travelers who bill $75,000+, for example, per year can even bring in free guests into Centurion Lounges. 

Uber and Resy Dining Credits 

Link your card to your Uber account, and you'll automatically get $15 in Uber Cash every month, plus an extra $20 in December. Add that to up to $400 annually in Resy dining credits, and you can turn everyday meals into major savings. 

Digital Entertainment and Retail Credits 

Earn up to $25 back per month on selected streaming and news subscriptions, and enjoy up to $300 a year toward lululemon purchases. And with $100 in annual Saks Fifth Avenue credits, adding a touch of luxury shopping to your routine is easy. 

CLEAR® Plus and Walmart+ 

Frequent travelers can maximize value with the CLEAR Plus credit to skip the airport security line, and homebodies can save time and money using the Walmart+ membership credit worth up to $155 annually. 

Why These Mistakes Matter

Every unused or missed credit means you're paying for benefits you didn't use. The secret to beating the Amex Platinum Card is keeping track of your perks. Set calendar reminders for recurring credits, enroll the moment you activate your card, and just keep checking the Amex app. Over the course of a year, leveraging all the available benefits can easily offset the $895 annual fee-and then some. 

Final Thoughts 

Owning the American Express Platinum Card® is not just about prestige; it's about understanding and accounting for its value. By avoiding some common missteps-such as skipping enrollment or ignoring spending requirements-you can unlock thousands of dollars in perks, rewards, and savings. 

If you look at that annual fee as an investment in premium travel and lifestyle access, this card can pay for itself many times over.

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