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How I squeezed more than $4,500 in value from two Amex cards in a single year

Digilifetrends Updated 2026-10-25 10 min read
Featured image by AMERICAN EXPRESS

Here’s a confession: I currently have 28 open, active credit cards.

That may sound like a lot, but I don’t actively use most of them. The majority are what I’d call perk cards — worth keeping around, but not cards I swipe very often.

Two cards in my wallet, though, stand out for the way they combine rewards and benefits: the American Express Platinum Card® and the American Express® Gold Card.

With both cards up for renewal before the end of the year, I recently totaled up what I got from them. Even I was surprised by the result.

Here’s how I ended up with more than $4,500 in value from these two cards over 12 months — and why one of them may be worth considering for your wallet.

What the Amex Platinum and Amex Gold were worth

To figure out the value, I started with the statement credits I could actually measure and sorted them into three buckets:

  • Purchases I would have made anyway
  • Nice to use, but not essential
  • Benefits that don’t match my spending habits

For this calculation, I counted only the top category for the period covered and then assigned a value to the points I earned over 12 months using TPG’s most recent valuations, which peg Amex points at 2 cents each.

Adding everything together, I came up with these totals:

  • Amex Platinum: 61,514 points and $1,610 in statement credits
  • Amex Gold: 66,328 points and $478.20 in statement credits

That works out to an estimated total value of $4,645.04 in one year.

The credits I used on each card were enough to cover their annual fees on their own — $895 for the Amex Platinum (see rates and fees) and $325 for the Amex Gold (see rates and fees).

Put another way, after subtracting the cards’ combined $1,220 annual fees, I came out ahead by $3,425.04 by using benefits and earning rates strategically on purchases I was already making.

How I made the most of each card

Below is a closer look at how the benefits played out in practice. The charts show the statement credits and targeted offers I used over the last 12 months, along with notes on how I approached each one.

Amex Platinum credits

In no particular order, here’s how I used the benefits on my Amex Platinum. Enrollment is required for select benefits.

BenefitDetailsMy 12-month valueAdditional notes
Digital entertainment creditUp to $300 in statement credits each calendar year (up to $25 per month) for eligible subscriptions to select digital entertainment providers$300Used for monthly New York Times and Hulu/Disney/ESPN bundle
Resy creditUp to $400 each calendar year (up to $100 quarterly) in statement credits at eligible U.S. Resy restaurants*$400I dine out regularly and love visiting Resy restaurants; this has recently expanded to include select Tock venues.
Airline fee creditUp to $200 in statement credits per calendar year toward eligible incidental fees on one selected U.S. airline$50I’ve only used $50 in 2026, and my 2025 credits were exhausted before the period reset.
Lodging creditUp to $600 in statement credits each calendar year (allotted as up to $300 biannually) on eligible prepaid Fine Hotels + Resorts, The Hotel Collection or Airbnb Luxe properties for bookings made through American Express Travel® or the Amex Travel App™

The Hotel Collection and Airbnb Luxe require a two-night minimum; FHR will implement the same policy as of Jan. 1, 2027

$600Used for a Mother's Day stay at the Eau Resort & Spa Palm Beach and a March 2027 stay in Singapore
Uber CashUp to $200 in Uber Cash per calendar year (split into monthly up to $15 credits plus an up to $20 bonus in December) valid for rides or Uber Eats orders in the U.S.**$200Easy to use on trips or for food delivery
Amex OffersTargeted offers for select merchants through the Amex website or Amex app$60I saved $15 on flowers for a friend's birthday in February and $45 on Total Wine purchases later in the year

*Simply pay with your Amex Platinum at an eligible U.S. Resy restaurant; no reservation is required

**Uber Cash will only be deposited into one Uber account when you add the Amex Platinum as a payment method and redeem with any Amex card.

Amex Gold credits

The Amex Gold has fewer measurable perks than the Platinum Card, but I was still able to put its benefits to use. Enrollment is required for select benefits.

BenefitDetailsMy 12-month valueAdditional notes
Dining creditUp to $120 in annual dining statement credits (up to $10 per month) valid at select merchants$100I am a frequent Five Guys customer, though I did miss two months of this perk.
Dunkin' creditUp to $84 in annual Dunkin' statement credits (up to $7 each month) at U.S. locations$84My daughter loves Dunkin' and who am I to turn her down?
Resy creditUp to $100 each calendar year (up to $50 biannually) in statement credits at eligible U.S. Resy restaurants^$100I regularly dine at participating Resy restaurants, so I was able to use both semiannual credits.
Uber CashUp to $120 in Uber Cash per calendar year (split into monthly up to $10 credits) valid for rides or Uber Eats orders in the U.S.^^$120I regularly use Uber and Uber Eats, whether at home or on the road.
Amex OffersTargeted offers for select merchants through the Amex website or Amex app$4.20Sunscreen purchase at CVS

^Simply pay with your Amex Gold at an eligible U.S. Resy restaurant; no reservation is required

^^Uber Cash will only be deposited into one Uber account when you add the Amex Gold as a payment method and redeem with any Amex card.

In every one of those cases, I was already planning to make the purchase. By using the cards’ benefits, I saved more than $2,000 over 12 months.

It’s worth remembering that enrollment is required for some benefits, and targeted Amex Offers usually must be added to the card before you buy.

How I earned points on the Amex Platinum and Amex Gold

The value didn’t come only from benefits. I also used these cards often to earn bonus points on these purchases:

  • Amex Platinum:
    • 5 points per dollar spent on flights booked directly with the airline or through Amex Travel (on up to $500,000 in purchases each calendar year; then 1 point per dollar)
    • 5 points per dollar spent on prepaid lodging booked through Amex Travel
  • Amex Gold:
    • 4 points per dollar spent at restaurants worldwide, including eligible takeout and delivery services (up to $50,000 per calendar year; then 1 point per dollar)
    • 4 points per dollar spent at U.S. supermarkets (up to $25,000 per calendar year; then 1 point per dollar)

    On top of that, I had a few chances to earn additional Amex points through targeted offers, alongside the cash-value offers described above. I also earned 1 point per dollar on many of the purchases that triggered the statement credits.

    Across the full 12-month span, I earned 127,842 points, which TPG values at $2,556.84.

    What I left out of the math

    More than $4,500 in value is impressive, especially when compared with the cards’ annual fees. Still, I left out a few things that added even more value.

    First, I excluded benefits I used but would not have paid for otherwise.

    For example, I’m not a big Lululemon shopper, but I do make a point to shop at U.S. stores once a quarter to use the up to $300 in annual statement credits (up to $75 per quarter; enrollment required).

    I also would not pay for Walmart+ on my own, but I enrolled and activated the membership and charge it to my Platinum Card to receive up to $155 in statement credits each year (up to $12.95 plus applicable taxes each month; subject to auto-renewal, Plus Ups excluded).

    I also left out the American Express Global Lounge Collection. Access to Centurion Lounges and 10 annual visits to Delta Sky Clubs on eligible Delta-operated flights is nice, but I treat it as a bonus rather than part of the core value I get each year.

    Finally, I excluded Rakuten earnings.

    I often use the Rakuten shopping portal for online purchases and choose to earn Membership Rewards points instead of cash back. Over the past 12 months, that added another 74,194 Amex points.

    You don’t need one or both of these cards to earn Amex points through Rakuten, but they are the only eligible cards I have in my wallet. You can also choose to earn Bilt Points instead.

    (If you’re not already a Rakuten member, you can sign up and earn a one-time $50 bonus after spending at least $50 at eligible retailers within 90 days.)

    Current offers and why timing may matter

    Both the Amex Platinum and Amex Gold come with strong welcome bonuses, although the offers are targeted to individual applicants:

    • Amex Platinum: New cardmembers can find out their offer and may be eligible for as high as 175,000 bonus points after spending $12,000 on purchases in the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.
    • Amex Gold: New cardmembers can find out their offer and see if they are eligible for as high as 100,000 bonus points after spending $8,000 on purchases within the first six months of card membership. Welcome offers vary, and you may not be eligible for an offer.

    Even if you don’t get the top offer, it may still be a good time to apply.

    That’s because several benefits on these cards reset at the beginning of the new year, giving you a short window to use them now and then again after the reset. A few examples:

    • The Amex Platinum’s up to $200 airline fee credit is based on the calendar year. If you’re approved before year-end and enroll in the benefit, you may be able to use up to $200 in eligible credits before the year closes, with another annual allotment available after the reset.
    • The Resy credits on both cards reset in January. If you get the Platinum Card, you can enroll and get up to $100 in statement credits on eligible U.S. Resy purchases this quarter and then another $100 each quarter after the reset. The Amex Gold works similarly; you can enroll and use up to $50 before the year ends, then another $50 from January to June and $50 more from July to December.
    • Uber Cash: The Amex Platinum offers up to $15 in Uber Cash monthly, plus an additional up to $20 in December, for eligible U.S. Uber rides and Uber Eats orders.

    Of course, opening a card just to grab a few credits before the year ends may not be worthwhile if you would not otherwise use the benefits or cannot meet the welcome-offer spending requirement.

    And if you do not already have either card, you may want to begin with the Amex Gold. American Express application rules may prevent you from earning a welcome offer on the Gold Card if you currently hold, or have previously held, a Platinum Card.

    Bottom line

    I’ve carried the Amex Platinum and Amex Gold for years, but I had never taken the time to calculate what they were truly returning. The answer was more than $4,500 in value over the past 12 months before annual fees.

    With several benefits resetting soon, this could be a good time to consider one of these cards if you’re targeted for a strong welcome offer.

    To learn more, read our Amex Platinum review and Amex Gold review.

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