Let’s cut through the noise: Amex isn’t just another credit card. It’s a wallet full of perks, a status symbol, and a monthly bill that can make your eyes water. But is it worth it? If you’re sitting there wondering whether that $695 annual fee is just fancy paper or real value, you’re asking the right question.

Most people think Amex is for rich folks or business owners. That’s partly true. But it’s also for people who travel often, dine out regularly, or just hate paying full price for things. The real answer? It depends on how you live.

What You Actually Get With an Amex

Amex doesn’t just hand out points. It gives you access. The Platinum Card, for example, includes:

• Up to $200 in annual airline fee credits (for baggage, priority boarding, etc.)
• $200 in Uber credits every year
• $240 in Digital Entertainment credits (Apple+, Spotify, Amazon Prime, etc.)
• $189 in LoungeKey access to over 1,300 airport lounges worldwide
• Automatic Hilton Gold and Marriott Gold status
• Complimentary Global Entry or TSA PreCheck application fee

That’s over $1,000 in direct benefits before you even use your card for purchases. If you fly even once a year, the airline credit alone covers most of the fee. If you use Uber regularly, you’re getting free rides. If you stream anything, you’re saving on subscriptions.

And that’s just the Platinum. The Gold Card, at $250 a year, gives you $120 in dining credits, $120 in Uber credits, and up to $100 in Saks Fifth Avenue credits. If you eat out four times a month, you’re covering the fee with meals alone.

Who Actually Benefits From an Amex?

Amex isn’t designed for people who pay off their balance and never travel. It’s built for people who use it - and use it often.

Take Sarah, a marketing manager in Auckland. She flies to Sydney every quarter for work. She uses her Amex Platinum to book flights, pays for airport parking with it, and uses the lounge access to avoid the chaos of the terminal. She gets $200 back on her airline fees, $240 on her streaming services, and $200 on Uber rides for late-night meetings. She spends $695 on the card - but gets over $1,000 back in value. Her net cost? Less than $100 a year. And she gets to skip lines, eat free snacks in lounges, and never pay for airport Wi-Fi.

Then there’s James, a freelance designer. He uses the Amex Gold for his meals with clients. He books three dinners a month at $80 each - that’s $240. He gets $120 back in dining credits. He uses Uber to get to meetings - another $120 in credits. He’s not spending extra. He’s just switching how he pays. The card pays for itself.

If you’re the kind of person who:

• Travels at least twice a year
• Spends $50+ a month on dining or food delivery
• Uses ride-sharing or streaming services regularly
• Wants to avoid paying for airport perks

Then Amex isn’t a luxury. It’s a tool.

The Hidden Costs You Can’t Ignore

But here’s the catch: Amex cards aren’t accepted everywhere. Not even close.

In New Zealand, most supermarkets, gas stations, and small shops only take Visa or Mastercard. You can’t use your Amex at the local dairy for milk. You can’t use it to pay your electricity bill. You can’t use it at most online retailers outside the US.

That means you need a backup card. And you need to be disciplined. If you’re using Amex for the perks, you still have to pay the full balance every month. There’s no 0% intro APR on Amex Platinum. No balance transfers. No low-interest options. If you carry a balance, you’ll pay 24.99% interest - higher than most cards.

And if you don’t use the perks? You’re just paying $250-$695 a year for a plastic rectangle. No points. No cash back. No return. Just a bill.

Amex doesn’t reward spending. It rewards usage. If you don’t use the lounges, the credits, the status, the Uber, the dining - you’re not getting value. You’re just paying for the brand.

Amex vs. Other Premium Cards

Is Amex the best premium card? Not always. But it’s the most consistent.

Here’s how it stacks up against two competitors:

Chase Sapphire Reserve gives you more travel credit and better acceptance, but less in Uber and digital credits. Citi Premier is cheaper and has better rewards on gas and groceries - but no lounge access or status perks.

If you want the full premium experience - lounges, status, credits, convenience - Amex Platinum is still the most complete package. But if you just want to earn points and fly cheap, a Visa or Mastercard might be smarter.

What You Lose by Not Having an Amex

It’s not just about the money. It’s about the experience.

Imagine landing in Tokyo at 2 a.m. You’re tired. You’ve got a 90-minute layover. You walk into a quiet, clean lounge, get a hot meal, a shower, and a nap. No crowds. No stress. That’s not a luxury - it’s a game-changer for frequent travelers.

Or think about dining with a client. You pick a restaurant. You use your Amex Gold. You get $120 back. You don’t even think about it. They’re impressed. You didn’t have to say a word.

These aren’t perks. They’re moments that make life easier. And for people who value time over money, that’s priceless.

Who Should Skip Amex?

If you fall into any of these categories, skip it:

• You rarely travel or dine out
• You carry a balance on your cards
• You only use your card for groceries and bills
• You hate managing multiple cards
• You don’t care about airport lounges or hotel status

For these people, a no-fee cash back card - like a 2% Visa - is smarter. You get real money back without the complexity. You don’t need to track credits. You don’t need to book through specific portals. You just swipe and earn.

Amex is not for everyone. But it’s not meant to be.

Final Verdict: Is Amex Worth It?

Yes - if you use it.

No - if you don’t.

The Amex Platinum card is worth $695 a year if you use the credits, travel often, and value convenience. It’s a waste if you treat it like a regular card.

Think of it like a gym membership. Paying $100 a month for a gym you never use? That’s dumb. Paying $100 a month for a gym you go to five times a week? That’s smart.

Amex is the same. It’s not about owning it. It’s about using it.

Check your spending habits. Look at your last six months of travel, dining, and subscriptions. If you’re spending $800+ a year on those things, and you’re not using Amex, you’re leaving money on the table.

But if you’re still paying off your balance every month? You’re better off with a simple 2% cash back card. No annual fee. No stress. Just pure value.

Amex doesn’t make you rich. But if you’re already spending like someone who can afford it - it can make your life a lot easier.