The Discover it Cash Back is a great option for users who want to earn cash back on rotating categories with no annual fee and an introductory APR. The American Express Platinum is better suited for frequent travelers who can take advantage of its extensive travel benefits and are willing to pay a high annual fee.
| Attribute | Discover it Cash Back | American Express Platinum |
|---|---|---|
| Cash Back Rewards Rate | 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 when you activate. Plus, earn unlimited 1% cash back on all other purchases. | The Amex Platinum card does not have a traditional cash-back program. You can redeem Membership Rewards points to cover card charges, effectively getting cash back at a rate of 0.6 cents per point. Some Amex cards offer cash back in the form of reward dollars that can be redeemed for statement credits or eligible items at Amazon.com. |
| Annual Fee | $0 | $695. Additional Platinum Cards have a $195 annual fee for each card. |
| Introductory APR Offer | 0% intro APR for 15 months on purchases and balance transfers. | Not available |
| Regular APR | 18.24% - 27.24% Variable APR | Not available |
| Credit Score Requirement | Good to excellent credit, typically a FICO score of 670 or higher. Some sources suggest 700 or higher. | A good to excellent credit score is typically needed, with a score of at least 700 preferred. Approval may be possible with a score in the 670-699 range, or even lower, based on other financial factors. Some sources recommend a credit score of at least 670 or higher. |
| Sign-Up Bonus | Discover will automatically match all the cash back you ve earned at the end of your first year. There's no minimum spending or maximum rewards. | You may be eligible for as high as 175,000 Membership Rewards points after spending $8,000 in eligible purchases within the first 6 months. Sign-up bonus offers can vary. |
| Foreign Transaction Fees | None | The Amex Platinum card does not charge foreign transaction fees. |
| Travel Benefits | Not specified as a primary benefit. | Lounge Access: Access to over 1,400 airport lounges through the Global Lounge Collection, including Centurion Lounges, Delta Sky Clubs (with visit limitations or unlimited visits with $75,000 annual spending), Priority Pass Select lounges (enrollment required), Plaza Premium Lounges, Escape Lounges, and Airspace lounges. Hotel Credits: Up to $200 per calendar year in statement credits for prepaid Fine Hotels + Resorts or The Hotel Collection bookings made through American Express Travel. Airline Fee Credit: Up to $200 per calendar year in statement credits for incidental fees (like checked bags) charged by one selected qualifying airline. Elite Status: Complimentary elite status with Hilton Honors and Marriott Bonvoy (enrollment required). Other Credits: $199 CLEAR Plus credit. Travel Insurance: Comprehensive travel insurance. |
| Purchase Protection | Not specified as a primary benefit. | Covers eligible purchases for loss, damage, or theft for 90 days from the purchase date. Up to $10,000 per item and $50,000 per card member account per calendar year. Natural disaster losses are covered up to $500 per purchase protection covered event. |
| Concierge Service | Not specified as a primary benefit. | The Amex Platinum card includes a complimentary concierge service. Concierge services can assist with various tasks, such as: Finding restaurants and making reservations, Purchasing event tickets, Travel-related inquiries, Shopping requests and gift recommendations. |
| Rewards Redemption Options | Statement credit, electronic deposit, gift cards, and purchases through Amazon.com or PayPal.com. | Amex Membership Rewards points can be redeemed in various ways: Booking flights or hotels through Amex Travel, Transferring points to travel partners (airlines and hotels), Covering card charges (statement credits), Redeeming for gift cards, Using points for online purchases at select retailers like Amazon. |
| Balance Transfer Fee | 3% intro fee of the amount transferred; 5% fee for future transfers. | Not available |