Amex Gold vs. Amex Platinum: Rewards, Fees, and the "Coupon Book" Reality (2026)

If you are choosing between the American Express® Gold Card and The Platinum Card® from American Express, ignore the shiny metal marketing for a second. Here is the clean way to think about the difference:

Gold is primarily an everyday "food" points engine (restaurants + groceries).
Platinum is a premium travel and lifestyle perks bundle that happens to earn great points on flights.

In 2026, the annual fees are steeper than ever, and the credit lists are longer. Below is a side-by-side breakdown of rewards, fees, and a practical framework for figuring out which one delivers more net value to your specific wallet.

Snapshot comparison

Feature	Amex Gold	Amex Platinum
Annual Fee	$325	$895
Best Categories	4X Restaurants (cap applies)4X U.S. Supermarkets (cap applies)	5X Flights (cap applies)5X Prepaid Hotels (AmexTravel)
Lounge Access	Not the point of this card.	Global Lounge Collection (1,550+ locations)
Credits Complexity	Medium (A few monthly credits)	High (Many credits; monthly/quarterly splits)

(See official rates and fees for the Amex Gold and Amex Platinum)

Rewards: Where each card actually earns

Amex Gold earning rates (Best for dining + groceries)

The Gold card is built to rack up Membership Rewards points where most households spend the majority of their budget.

4X at restaurants worldwide (plus takeout and delivery in the U.S.; cap applies).
4X at U.S. supermarkets (on up to $25,000 per year in purchases, then 1X).
3X on flights booked directly with airlines or on AmexTravel.com.
2X on prepaid hotels and other eligible travel booked through AmexTravel.com.

Amex Platinum earning rates (Best for flights + certain hotels)

Platinum points are highly concentrated in specific travel bookings.

5X on flights booked directly with airlines or through AmexTravel (on up to $500,000 of these purchases per calendar year).
5X on prepaid hotels booked through AmexTravel.com.
1X on almost everything else.

The CardSavvy Take: If your non-travel spending is heavy on dining and groceries, Gold will out-earn Platinum by a significant margin. Platinum only wins on earn rate if you are buying a massive volume of airfare.

Credits and perks: The "Coupon Book" factor

This is where people get tripped up. Both cards advertise huge "total value" numbers, but what matters is your personal capture rate. If a credit forces you to buy something you do not want, that is not savings. That is marketing.

Amex Gold credits (Simpler, household-friendly) Gold credits are generally easier to use naturally.

$120 Dining Credit (Up to $10/month; enrollment required; partners apply).
$120 Uber Cash (Up to $10/month in the U.S. for rides or Eats).
$100 Resy Credit (Up to $50 semi-annually; enrollment required).
$84 Dunkin' Credit (Up to $7/month).
The Hotel Collection benefit (Experience credit on eligible bookings).

Amex Platinum credits (High complexity) The Platinum refresh pushed the value proposition hard into statement credits.

$600 Hotel Credit (Up to $300 semi-annually on select prepaid bookings).
$400 Resy Credit (Up to $100 per quarter; enrollment required).
$300 lululemon Credit (Up to $75 per quarter).
$300 Digital Entertainment Credit (Up to $25/month on eligible partners).
$200 Uber Cash ($15/month + $20 in December).
$200 Airline Fee Credit (Incidental fees only; enrollment required).
Plus: Uber One credit, CLEAR Plus credit, Saks credit, and Global Entry/TSA PreCheck.

Translation: Platinum can be worth the $895 fee, but only if you actually use a meaningful chunk of this list and utilize the lounge access.

The Math: When is Platinum worth it on points alone?

Let's look at the numbers. The Platinum card costs $570 more per year than the Gold ($895 minus $325).

If you ignore the credits and only compare earning rates:

Flights: Platinum earns 2 more points per dollar than Gold (5X vs 3X).
The Break-Even: To cover that $570 difference just from extra flight points, you would need to spend roughly $17,800 on flights (assuming a 1.6¢ point valuation).

If you value points lower (like a casual redeemer at 0.6¢), you would need to spend nearly $47,500 on flights to break even on the fee difference.

Bottom line: For most people, Platinum does not win on points math alone. It wins if (and only if) you extract real value from the luxury perks and credits.

Which card is better for you?

Choose Amex Gold if...

Your biggest spending categories are restaurants and groceries.
You will naturally use the Uber and Dining credits without changing your habits.
You want strong point accumulation without managing a dozen different quarterly enrollment deadlines.
Related: If you are a renter, check out our 2026 Bilt Rewards analysis to see how to pair a rent card with a food card like Gold.

Choose Amex Platinum if...

You travel frequently and value lounge access (Centurion, Priority Pass, Delta SkyClub when flying Delta).
You book enough cash flights that the 5X multiplier moves the needle.
You are organized enough to manage the "coupon book" (monthly Uber, quarterly Resy, semi-annual Hotels, etc.).

A practical decision framework

Before applying, do this 2-minute exercise:

List the credits you would use with zero behavior change. If a credit makes you switch merchants or buy things you do not need, value it at $0.
Estimate annual points based on your real spending. Focus on the difference between Gold's 4X everyday earning vs Platinum's 5X travel earning.
Value points conservatively. We usually suggest testing your math at 1.0¢ or 1.5¢ per point.
Only then count the "soft" perks like lounge access or hotel status.

Quick take: For most households, Amex Gold is the better financial deal because it earns points where you actually spend money. Amex Platinum is a lifestyle membership that requires work to justify the fee.