The AA Exec card doesn't come with any perks outside of the lounge access. The Amex card also gets SPG gold, which matches to Marriott gold without the 50 night requirement. Between the airline credit and the hotel status, I'm leaning towards the Amex over the AA Exec. Because the Amex is airline independent, it gives me the potential option to go for the Alaska lounge with Admirals Club reciprocity. The question is whether it's worth it. I'm AA Plat, so my annual membership cost is the same as the AA Exec card. Alaska (after the first year) is $100 less than AA.