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Writer's pictureNick Burgess

Amex Gold vs Amex Platinum: Which is Better in 2024?

When it comes to selecting the right credit card for maximizing your spending, especially on travel and dining, two popular options from American Express stand out: the American Express Platinum Card and the American Express Gold Card.

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Both of these cards offer a variety of benefits that cater to different types of spenders, but choosing between them can be difficult. Whether you're a frequent traveler or someone who spends more on groceries and dining, understanding the key differences between these two cards can help you make an informed decision. 


Key Differences at a Glance 

The American Express Platinum Card and the American Express Gold Card both earn Membership Rewards points, but they come with different perks, annual fees, and benefits that cater to different lifestyles. Here’s a brief overview of their core differences: 


Who Should Consider the American Express Platinum Card? 

The American Express Platinum Card is a top-tier option designed for frequent travelers who want premium travel perks and are willing to pay a high annual fee of $695 in exchange for excellent benefits. This card provides some of the most generous rewards in the travel category and exclusive access to luxurious services, as well as signaling to a potential romantic partner that your wallet is heavier than your competitions'.


Travel Benefits 

The Amex Platinum Card is best known for its superior travel perks, including access to more than 1,400 airport lounges worldwide through the American Express Global Lounge Collection, which includes Delta Sky Club (more on that in a minute) and Priority Pass lounges. For those who value airport lounge access, the Platinum Card stands out as a clear winner. 


The card offers 5X Membership Rewards points on flights booked directly with airlines or via American Express Travel, as well as on prepaid hotels booked through Amex Travel. These points can be redeemed for a wide range of travel-related purchases, from flights and hotels to upgrades and eligible purchases made through various American Express programs. 


Annual Credits 

The Amex Platinum card comes with a host of credits that can significantly offset the high annual fee. These include: 

- $200 annual airline fee credit to cover incidental fees like baggage or seat selection. 

- $200 Uber Cash, divided into monthly credits to use on uber rides or Uber Eats purchases. 

- $100 Global Entry or TSA PreCheck fee credit every 4-5 years for expedited airport security. 

- $189 CLEAR credit to further speed up airport security processes. 


These credits, paired with complimentary access to luxury services, can add value far beyond the annual fee, making the Platinum Card ideal for people who want the most out of their travel experience.


Critically, however, American Express and Delta updated their Delta SkyClub policies. Starting in 2024, American Express Platinum Card holders are limited in their visits to the lounges, a perk that was previously unlimited. For many, including myself, this was a big change to the calculus of this card.


Hotel and Airline Benefits 

For those who frequently stay at hotels, the American Express Platinum Card offers elite status with Marriott Bonvoy and Hilton Honors, along with perks through The Hotel Collection. These benefits include upgrades and experience credits for things like dining or spa treatments during your hotel stays. Another great feature is the rental loss and damage insurance, which can be useful for frequent travelers renting cars. In case of a rental accident, the amex platinum card provides coverage for rental damage, ensuring peace of mind. 


Who Should Consider the American Express Gold Card? 

On the other hand, the American Express Gold Card is an excellent choice for those who prefer focusing on everyday spending categories like dining and groceries. With a lower annual fee of $325 compared to the Platinum Card, the Gold Card is a great middle ground, offering valuable rewards without as much of an upfront cost. For me, it's my primary workhorse card in my wallet that sees my MR points balance explode after a nice dinner out.



Dining and Grocery Rewards 

The Amex Gold Card is one of the best cards on the market for dining credit and grocery rewards. You’ll earn 4X Membership Rewards points at U.S. restaurants, making it a fantastic choice for foodies who dine out frequently.


In addition, the card earns 4X points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X), a significant perk for anyone with a substantial grocery budget. This makes the Gold Card a great fit for new cardholders who want to earn bonus points on everyday essentials and love eating out. If your spending habits focus more on food and family needs rather than travel, the Gold Card provides excellent value. 


Monthly Credits 

The Amex Gold Card also offers up to $320 in annual statement credits, which help to offset its annual fee: 

- $120 Dining Credit: This comes in the form of monthly statement credits ($10 per month) when you use the card at select restaurants and services like Cheesecake Factory, Ruth’s Chris Steak House, and delivery services through eligible delivery fees. 

- $120 Uber Cash: Like the Platinum Card, the Gold Card offers uber cash for rides or food delivery via Uber Eats.

- $84 per year in Dunkin credits, divided monthly 


For those who maximize these monthly statement credits, the annual fee effectively becomes much lower, making the Gold Card a better choice for people who want to focus on dining and everyday spending. 


Welcome Offers: Which Card Offers More? 

Both the American Express Platinum Card and the American Express Gold Card offer enticing welcome bonuses for new cardholders, but the Platinum’s tend to be larger: 

- Amex Platinum Card: Generally, you can find a welcome offer of 80,000-100,000 Membership Rewards points after spending a certain amount within the first three months of card membership, though I have seen this number reach as high as 150,000 (I personally received 125,000). This can be worth up to $800 or more, depending on how you redeem your points. 

- Amex Gold Card: The Gold Card, since it has a lower annual fee, generally offers a lower range of welcome offers. Offers of between 60,000-80,000 Membership Rewards points are common, with rare instances finding this card at the 100,000-110,000 mark, which can be worth around $600 or more, also depending on the redemption method. 


Both cards have periodic limited-time offers for their welcome bonuses, so it’s worth checking the latest promotions on the credit card issuer website. 


Travel Insurance and Protection Benefits 

If travel protection is a major concern for you, the Amex Platinum Card offers more robust insurance options: 

- Trip Cancellation and Interruption Insurance: Protects you against trip cancellations or interruptions for covered reasons. 

- Trip Delay Insurance: Covers expenses like meals and hotels if your flight is delayed by more than 6 hours. 

- Baggage Insurance Plan: Covers lost, stolen, or damaged baggage. 


The Amex Gold Card offers some protection, but it doesn't match the Platinum Card in terms of comprehensive travel insurance. For example, while both cards offer rental loss and damage coverage, the Platinum Card’s coverage limits tend to be higher. Critically, it's also secondary coverage, so you'd still need to pony up for primary if your insurance company doesn't offer it.


Annual Fees: Is the Platinum Worth the Extra Cost? 

The high annual fee of $695 on the Platinum Card is undeniably steep, but for frequent travelers, the various credits, rewards, and airport lounge options more than make up for it. The lower annual fee of $325 on the Amex Gold Card makes it a more attractive option for people who don’t travel as often but still want to benefit from a generous rewards structure. 


If you’re trying to decide between the two, consider how often you travel and how much you spend on dining and groceries. While the Platinum Card offers top-tier travel rewards and airport lounge access, the Gold Card provides excellent value for dining and groceries without the additional cost. 


Which Card is Better for You? 

Choosing between the American Express Platinum Card and the American Express Gold Card ultimately depends on your lifestyle and spending habits. Since I run this site, and put hundreds of hours into research on this topic, my friends often come to me asking for advice on which credit card to open. My first, and most important, piece of advice is: look at your spending categories. What do you spend the most amount of money on each month? From there, your choice should be simple.


Choose the American Express Platinum Card if: 

- You’re a frequent traveler who values perks like airport lounge access, elite status at hotels, and 5X Membership Rewards points on flights and hotels. 

- You can take full advantage of the extensive travel credits, including Global Entry application fee, TSA PreCheck, Uber account credits, and more. 

- You can justify the high annual fee through maximizing the available credits and luxury perks. 


Choose the American Express Gold Card if: 

- You spend more on dining and groceries than on travel. Earning 4X points at U.S. supermarkets and restaurants can rack up valuable points quickly. 

- You want a card with a lower annual fee but still valuable perks like dining credits and Uber cash. 

- You’re not as focused on airport lounge options or elite status at hotels but want membership rewards and excellent rewards on everyday spending categories. 


Both cards come from the broader suite of American Express cards and offer exceptional value in their respective areas. Whether you choose the Platinum or the Gold depends on your unique financial situation and travel preferences, but either card will provide you with ample rewards and benefits tailored to different lifestyles. 


Conclusion: Final Thoughts on the Amex Platinum and Gold Cards 

In summary, the American Express Platinum Card shines for frequent travelers who want to maximize travel-related perks, while the American Express Gold Card is perfect for those looking to earn Membership Rewards Points on everyday purchases like dining and groceries. With both cards offering welcome bonuses, membership rewards points, and a variety of annual statement credits, the decision comes down to which card aligns best with your spending patterns.


Regardless of which card you choose, you’ll be gaining access to an array of American Express benefits designed to enhance your lifestyle.

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