The credit card only millionaires have — but anyone can get (if you know the secret)

The credit card only millionaires have — but anyone can get (if you know the secret)

The American Express Platinum family includes two flagship premium cards: the consumer American Express® Platinum Card and the Business Platinum Card® from American Express. Both are aimed at affluent customers and frequent travelers, offering airport lounge access, elite hotel benefits, statement credits, and robust travel protections. These perks set the cards apart from typical rewards cards.

Many people assume the Platinum cards are “for millionaires” because of their image and high annual fees. The consumer Platinum carries a current publicly known annual fee of $695, and the Business Platinum has an annual fee of $895. Those fees are steep, but they are part of a value equation for cardholders who use the benefits regularly.

Strong credit and a deliberate strategy can make these cards attainable. Candidates should know how to maximize lounge access, travel credits, and partner transfer bonuses. Small businesses that leverage the Business Platinum for travel and vendor spend can often justify the fee through real savings and perks.

Viewed as an investment, the Platinum cards reward predictable, frequent use. For frequent flyers and businesses that travel, the combination of status perks, insurance coverage, and premium services can outweigh the cost. Understanding how to extract full value is the real secret to making these cards work for you.