Military members can get over $3,500 of value from the American Express Platinum Card — here's why it's such a good deal

The American Express Platinum Card® is one of the best premium travel cards, loaded with valuable statement credits and luxury perks like airport lounge access and elite status benefits.

The card can easily be worth it despite its hefty $895 annual fee (see rates and fees), but for active-duty service members, it's a no-brainer. This is because American Express provides special perks with eligible cards for active duty service members.

Here's how to take advantage of this offer, why the Amex Platinum is one of the best cards for service members and what other military-friendly credit cards are worth considering.

The Servicemembers Civil Relief Act (SCRA) and Military Lending Act (MLA) are similar laws protecting military personnel from excessive financial burdens with a few key differences. The biggest one is that the SCRA applies to specific financial obligations service members incur before starting active-duty service. The MLA, on the other hand, applies to certain financial commitments you make while on active duty.

If you open a credit card while on active duty you may benefit from the MLA, and credit cards you open before active duty can be affected by the SCRA. Many credit card issuers will waive fees and cap interest rates for service members on active duty, including active duty reservists. However, benefits aren't always applied automatically, so in some instances, you'll need to contact your card issuer and request a fee waiver.

The American Express Platinum Card is an excellent travel rewards card, but it has a $895 annual fee (see rates and fees), one of the most expensive annual fees. But if you're an active duty service member who qualifies for SCRA or MLA benefits, opening the Amex Platinum is easily worth it.

The card earns Amex Membership Rewards points, which are some of the most useful and valuable travel rewards. It's also loaded with over $2,000 in annual statement credits, including:

• Up to $300 in Equinox credit (enrollment required)
• Up to $200 in airline fee statement credits (enrollment required)
• $200 in Uber Cash each year (enrollment required; An Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.)
• Up to $155 in Walmart+ credits (subject to auto-renewal). Up to $12.95 plus applicable taxes on one membership fee
• $600 Hotel Credit: Get up to $300 back in statement credits semi-annually on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay. Certain room categories are not eligible for upgrade.
• Up to $300 in digital entertainment statement credits (enrollment required)
• $219 CLEAR+ Credit: CLEAR+ helps get you to your gate faster by using your face to verify you are you at 55+ airports nationwide. You can cover the cost of a CLEAR+ Membership with up to $219 in statement credits per calendar year after you pay for CLEAR+ with your Platinum Card®. (Excluding any applicable taxes and fees. Subject to auto-renewal.)
• Receive either a statement credit every 4 years after you apply for Global Entry ($120) or a statement credit after you apply for a five-year membership for TSA PreCheck^® (up to $85 through a TSA PreCheck official enrollment provider) and pay the application fee with your Platinum Card. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.

You'll also receive elite status with Avis, Hertz and National. And the card has a wide range of built-in travel insurance and purchase protections, including:

• Trip delay insurance*
• Trip cancellation/interruption insurance*
• Return protection
• Purchase protection**
• Extended Warranty
• Cell phone protection*
• Baggage insurance
• Terms apply

*Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

**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.

Regardless of what credit cards you have or want, it's a good practice to ask the card issuer about fee waivers or other benefits available for members of the U.S. military. Although other issuers will waive credit card annual fees for active-duty servicemembers, Amex is regarded as one of the most accommodating.

Depending on your spending habits and travel preferences, several credit cards offer annual fee waivers to members of the U.S. military and can be as valuable as the Amex Platinum.

The American Express® Gold Card is great for foodies, it earns a generous return at restaurants worldwide (4X Membership Rewards® points per dollar on up to $50,000 in purchases per calendar year, then 1X) and U.S. supermarkets (4X Membership Rewards® points per dollar on up to $25,000 in purchases per calendar year, then 1X).

Service members can qualify to have this card's $325 annual fee (see rates and fees) waived and still receive annual statement credits worth over $400 every year:

• Up to $120 in dining credit annually (Earn up to $10 in monthly statement credits) when you pay with the American Express® Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. (enrollment required).
• Up to $120 in Uber Cash annually (up to $10 a month for Uber Eats orders or Uber rides in the U.S. You must have downloaded the latest version of the Uber App and your eligible American Express Gold Card must be a method of payment in your Uber account. The Amex Benefit may only be used in the United States). An Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• Up to $84 in Dunkin' statement credit (receive up to $7 in monthly statement credits at U.S. Dunkin' locations, enrollment required)
• Up to $100 in Resy statement credit (earn up to $50 in statement credits semi-annually, enrollment required)

Chase offers additional benefits to eligible U.S. service members during active duty and one year afterward. During this time, the annual fee is waived and your APR is reduced to 4% on eligible balances. To request these benefits, contact Chase Military Services at 1-877-469-0110 or with a secure message sent through your online account.

The Chase Sapphire Reserve® (see rates and fees) is loaded with perks, and if you qualify to have the $795 annual fee waived, it's a deal that's too good to pass up. You'll receive an annual $300 travel credit, complimentary Priority Pass Select Membership and top-tier travel and shopping protections. Plus, you'll earn Chase Ultimate Rewards® points, which are incredibly valuable flexible travel rewards.

Active-duty military members can have the annual fees waived on certain credit cards. This is a particularly useful benefit to take advantage of with luxury credit cards, which tend to have the best perks but come with high annual fees.

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

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