✈ Which card provides a higher net value based on my spending: Amex Gold or Platinum?

As Rachel explains, deciding between the American Express Gold and the Platinum card comes down to your natural spending habits and how much you actually value their statement credits. For most people, the Gold card is a no-brainer because dining and groceries make up such a huge portion of our everyday budgets. This calculator runs the numbers on your lifestyle to find your true net value.

The Gold card dominates everyday spending, while the Platinum card is geared heavily toward travel. Enter your monthly spending to see which multipliers yield more points for your lifestyle.

As Rachel illustrates, if you're putting $15,000 of groceries and dining per year on a Platinum card, you'd get 15,000 points. But on the Gold, you'll get 60,000 points, which is enough for a one-way business class flight from the US to Europe. The Platinum counters with five times points per dollar on airfares and prepaid hotels.

Rachel notes that the American Express Gold card is $325 annually, while the Platinum card will set you back $895 per year. She warns that it's unlikely that you will use every credit or that you would value every credit at its face value.

Estimate how much these credits are actually worth to you, and set your value for Amex points. She advises, if you're thinking about getting both cards, the safest one to start with is the Gold. And then once you've hit that sign up bonus, go for Platinum.

These are premium rewards cards with high interest rates. If you carry a balance month-to-month, the interest charges will completely wipe out any points or credits you earn.

As Rachel emphasizes, the Gold and Platinum are not good for people who carry a balance. The interest is very high. So, always make sure you pay off the card in full every month to keep your net value positive.