The Platinum Card from American Express vs Discover it Cash Back: Which Card Wins for Your Spending?

Choosing between the The Platinum Card from American Express ($695/yr) and the Discover it Cash Back (no annual fee) comes down to where you spend most. Both cards can deliver real value — let’s break it down, then run your numbers to find the winner.

Meet the Contenders

The Platinum Card from American Express

Strongest in travel at 5% via portal. 5X on flights and prepaid hotels through Amex Travel. Global Lounge Collection access.

Annual fee: $695 Sign-up bonus: 80,000 points after $8,000 spend in 6 months Foreign fees: 0%

Perfect if: You maximize portal bookings and want premium perks to offset the fee.

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Discover it Cash Back

5% on rotating quarterly categories (up to $1,500/quarter), 1% on everything else. Cashback Match doubles all cash back in first year.

Annual fee: None Foreign fees: 0%

Perfect if: You want solid rewards without paying an annual fee.

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Head-to-Head Comparison

Feature The Platinum Card from American Express Discover it Cash Back
Annual Fee $695 $0
Sign-Up Bonus 80,000 points after $8,000 spend in 6 months None
Foreign Transaction Fee 0% 0%
Base Reward Rate <strong>1.0%</strong> <strong>1.0%</strong>
Travel Rewards <strong>5%</strong> 1%
Key Benefits 5X on flights and prepaid hotels through Amex Travel. Global Lounge Collection access. 5% on rotating quarterly categories (up to $1,500/quarter), 1% on everything else. Cashback Match doubles all cash back in first year.

The Verdict

The Platinum Card from American Express pulls ahead for travel spending.

The $695/year fee difference means The Platinum Card from American Express needs to earn at least that much more in rewards to justify its cost.

Not sure which fits your life? Enter your spending below and we’ll do the math.

See Which Card Wins for YOU

Enter your typical monthly spending and we’ll show you exactly which card earns more — including fees and bonuses.