Alternatives to the Amex Platinum Card

U.S. Bank and Bank of America cards are currently not available on CNBC Select and links have been redirected to our credit card marketplace where you can review offers from other issuers like American Express or Chase. You can also check out our list of best credit cards for alternative options.

Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.

The American Express Platinum Card® is packed with a seemingly endless list of perks in exchange for an $895 annual fee (see rates and fees) — but not everyone wants to pay such a princely sum for the entire slate of benefits — and you don’t have to. 

Other cards offer similar benefits at a much lower price — in some cases without an annual fee at all. We looked at a few of the best perks of the Amex Platinum Card and figured out how to closely replicate them cheaply. We prioritized cards in this order: those without an annual fee, those with an annual fee under $100 and a couple that have an annual fee that’s waived the first year. 

Of course, the Amex Platinum has a few benefits that can’t be duplicated, like Centurion Lounge access, but you can get a card or two that offer similar benefits with a much lower price tag.

The U.S. Bank Altitude® Connect Visa Signature® Card has no annual fee and you get four Priority Pass lounge visits per year. These visits also get you access to Priority Pass partner restaurants and non-lounge experiences (like nap rooms and gaming centers) that even the Amex Platinum doesn’t cover. While this is a far cry from the unlimited airport lounge access you get with the Amex Platinum, it might be enough to cover all, or most, of your airport lounge needs.

Another cheap credit card with lounge access

• United℠ Explorer Card: It has a $0 intro annual fee for the year, then $150, and includes two United Club lounge one-time passes per cardmember year that are worth over $100.

Did you know Amex Platinum’s rental car coverage* is actually secondary? Shocking but true. In fact, Amex requires you to enroll in premium rental car protection and pay either $19.95 or $24.95 every time you rent if you want primary coverage. 

A big benefit of the premium rental car protection is that you’re covered for up to 42 consecutive days (up to 30 days for Washington State residents), whereas other plans typically end after 31 consecutive days. That won’t matter if your trips are usually less than a month, but it’s worth pointing out. 

To get primary rental car insurance without an $895 annual fee or additional fee for every rental, get the Bilt Mastercard®.

You might’ve heard of the Bilt Mastercard® if you’re a renter because it allows you to earn points on rent without any transaction fees and has no annual fee. Its primary rental car insurance covers up to $50,000 in damage or theft (except for New York residents renting within the United States, then it’s secondary).

That’s an excellent benefit for a no-annual-fee credit card that earns points that transfer to a long list of partners like Air Canada Aeroplan, Alaska Atmos Rewards and United MileagePlus. 

Other cheap cards with primary rental car coverage in the U.S.

• Fidelity® Rewards Visa Signature® Credit Card: Along with no annual fee, this card comes with primary rental car coverage for up to $75,000 for physical damage, theft, vandalism and reasonable towing or loss-of-use charges. To qualify, you just need to pay for your entire rental with your card.
• Chase Sapphire Preferred® Credit Card: It has primary auto rental coverage and only a $95 annual fee. You’re covered for up to $60,000 for theft and collision damage, plus you’ll get a card that’s uniquely versatile and earns bonus rewards in a variety of popular categories, including 3X points on dining, streaming services and online grocery purchases (excluding Target, Walmart and wholesale clubs). 

*Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

The Fidelity® Rewards Visa Signature® Credit Card earns unlimited 2% cash back (when deposited into an eligible Fidelity account) and has no annual fee or foreign transaction fees. You’ll also get up to $100 in rewards when you pay for your Global Entry or TSA PreCheck application fee with your card.

While that won’t cover the full $120 Global Entry fee, it’s still a generous benefit for a card that costs nothing to keep long-term and will cover your entire TSA PreCheck fee. You can also deposit your rewards directly into a Fidelity account, which is an easy way to save for your future. 

Other cheap cards with trusted traveler program credits

• Capital One Venture Rewards Credit Card: If you want to sign up for a trusted traveler program, you could get the application fee reimbursed if you have the Capital One Venture Rewards card. It has a $95 annual fee, and you get up to $120 in credit for a Global Entry or TSA PreCheck application. Plus, you’ll earn at least 2X miles on every purchase and have the ability to transfer rewards to partners like Avianca LifeMiles, Qantas Frequent Flyer and Virgin Red. 
• U.S. Bank Altitude® Connect Visa Signature® Card: Another benefit with this card is $100 in credit for a TSA PreCheck or Global Entry application fee. Along with the lounge visits we mentioned earlier, you could come out way ahead without paying an annual fee. That means TSA PreCheck could be completely free, while Global Entry would only cost $20 out-of-pocket. 
• Bank of America® Premium Rewards® Credit Card: This card also offers up to $100 for a TSA PreCheck or Global Entry application fee on top of its up to $100 for airline incidentals, like seat upgrades, baggage fees and in-flight purchases. Between these two benefits alone, you could come out ahead year after year. I’ve had this card for several years, since it’s such an easy win. 

The Wells Fargo Autograph® Card has no annual fee and you’ll earn 3X transferable points on travel, transit, streaming services and phone plans and at restaurants and gas stations. That covers a big portion of most budgets, but, admittedly, Wells Fargo’s transfer partners are lacking compared to Amex Membership Rewards®. Still, if you like a couple of them, including Choice Privileges, Flying Blue and Virgin Atlantic Flying Club, you can do very well with this card.

Other cheap cards that earn flexible travel rewards

• Capital One VentureOne Rewards Credit Card: Another strong contender, you’ll earn at least 1.25 miles per dollar spent on every purchase and the ability to transfer them to all Capital One’s partners. While there aren’t many bonus categories, there’s also no annual fee, and you get access to several strong loyalty programs.
• Bilt Mastercard®: This card offers arguably the best transfer partners of any travel credit card, including heavy hitters Atmos Rewards, United MileagePlus and World of Hyatt — again, with no annual fee.

The Amex Platinum Card allows you to choose an eligible airline and receive up to $200 back per calendar year to cover incidental charges with that airline, such as upgrade fees, in-flight snacks or checked bags (enrollment required).

With the Bank of America® Premium Rewards® Credit Card, you get up to $100 back per year — which is more than the card’s annual fee — for airline incidentals, would could be seat upgrades, checked bags, in-flight purchases or anything else that pops up. Best of all, it’s not tied to any airline, so you can mix and match until you use the entire credit. 

Other cheap cards that can help reduce airline fees

• Wells Fargo Autograph Journey℠ Card: In exchange for a $95 annual fee, you get a $50 annual credit for airline purchases of at least $50, including most fees. That cuts the card’s fee in half, and you’ll earn a great return on hotel and airline travel. It’s a nearly perfect card for travelers, especially if Wells Fargo can add more transfer partners. 
• Co-branded airline credit cards: Most co-branded airline cards get you, and a handful of travel companions, a first checked bag for free. While the benefit only applies to travel with that specific airline, this can easily save you $70 in fees per person per round-trip flight. For lower-cost options check out cards such as: Citi® / AAdvantage® Platinum Select® World Elite Mastercard® ($0 intro annual fee for the first year, then $99), The New United℠ Explorer Card ($0 intro annual fee the first year, then $150; see rates and fees), Delta SkyMiles® Gold American Express Card ($0 intro annual fee the first year, then $150; see rates and fees) or Southwest Rapid Rewards® Plus Credit Card ($99 annual fee).

Alas, there are a few benefits that the Amex Platinum does so well, they’re veritably impossible to duplicate with a low-cost card, including: 

• Centurion Lounge access: If you want to get into this Amex-branded chain of airport lounges, you’ll need to have a premium Amex card, such as the Amex Platinum Card. 
• CLEAR membership credit: You’ll get up to $209 back annually for a CLEAR® Plus membership (excluding any applicable taxes and fees; subject to auto-renewal). This is a big win if you use this expedited screening program a lot. 
• Shopping and wellness credits: The Amex platinum has the market cornered on lifestyle credits with over $1,000 in annual credits for lululemon, Saks, Equinox, Oura Ring and Walmart+ (subject to auto-renewal; terms apply). Although these aren’t the most straightforward benefits, you won’t find this array of perks on other cards.
• Dining credit: Amex bought the Resy booking platform some years ago, and now you can get up to $400 in Resy credit every year (up to $100 in statement credits each quarter; enrollment required). While dining credits are also a perk on the American Express® Gold Card, that’s another card with a sizable annual fee (see rates and fees).

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card review is based on rigorous reporting by our team of expert writers and editors. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.

Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money, and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.

For rates and fees for the Delta SkyMiles® Gold American Express Card, click here.

For rates and fees of the American Express® Gold Card, click here.

For rates and fees of the American Express Platinum Card®, click here.