Two days ago we posted about the rumors going around about benefits changing on the Amex Platinum card. Most of the rumors seem to have been true. Here’s what changed!
Huge new welcome bonus
Earn 100,000 points after spending $6,000 within the first 6 months. Plus earn 10 points at restaurants worldwide and when you Shop Small in the U.S. on up to $25,000 in combined purchases within the first 6 months (terms apply).
That’s a total of 350,000 points that you can earn, right there!
Many local stores are eligible for Shop Small, so you can accumulate your Amex points real easy, though I doubt my readers spend $25,000 within 6 months on purchases at Shop Small stores and restaurants (though I wouldn’t be surprised if they do, I’ve got myself some rich readers:). Here’s the Shop Small Map for all merchants under Amex Shop Small so that you know where to shop. If you multiply all you spend at these stores by 10 points, it may turn out to be a lot of points.
Annual fee increased
The annual fee on the card did go up to $695, from the previous $550.
$919 in added credits
Here are the new credits Amex has added to the Platinum card along with the annual fee increase. These new credit benefits are also available for existing cardholders, even those who locked in the $550 annual fee.
- New! Get $200 credit for prepaid hotel bookings per year. Bookings must be made at Fine Hotels and Resorts and The Hotel Collections, through Amex Travel.
- New! Get $179 credit for CLEAR per year. CLEAR, which is becoming available at more and more airports, gets you better and faster security check-in at the airport and gets you through check-in, security, and boarding quickly and easily. This credit was also added to the Platinum Business card.
- New! Get $300 credit for Equinox. Get fit with $25 per month that you can apply towards the $39.99 monthly fee for Equinox and the fitness app.
- New! Get $240 credit for Digital Entertainment. Get $20 a month on purchases at the following providers: Peacock, Audible, SiriusXM, and New York Times.
In the previous post, we had mentioned some benefits changing, but no benefits actually did change. So you can continue to enjoy the benefits you enjoyed until now and now also enjoy some new benefits while you’re at it.
Does $919 in added credits justify an $145 increase in the annual fee?
It’s definitely hard to maximize some of these benefits, but let’s see.
- $200 credit for prepaid hotel bookings per year. This benefit is very restrictive, being that it’s only for hotels part of the Fine Hotel and Resorts and The Hotel Collections, and the booking needs to be made through Amex Travel. Even though I’d have liked to see this benefit a lot less restrictive, there definitely are properties you can find at your destination with The Hotels Collections. Amex Travel claims there are more than 600 hotels across 75 countries. And at the end of the day, $200 is $200, so even though it may not be your first choice hotel, search for a property at your destination and go off with your $200. It can easily cover a full night at the hotel which is nothing to laugh about.
- $179 for CLEAR is great for those that hold CLEAR of value. CLEAR can get you from check-in to boarding easily and smoothly. This credit was also added to the Platinum Business card.
- $300 for Equinox is a teaser. You get $25 per month that you can apply towards the $39.99 monthly fee!?! So this credit does not pay your full membership. This benefit seems to be just an incentive, or a good marketing strategy by Equinox, to get you to sign up with Equinox.
- $240 for Digital Entertainment is also a restricted credit and does not seem worth it because of two reasons. One, you can only use it at these 4 providers: Peacock, Audible, SiriusXM, and New York Times. And two, these entertainment apps are cheap, each costing between $4-$12 a month so I see it as hard to maximize the full $20 value. Unless there’s someone who is entertainment crazy and uses all of these subscriptions.
Here are the complete details of the so-called “new” Amex Platinum card.
Earn 100,000 points after spending $8,000 within the first 6 months (terms apply). $695 – 5 points on flights booked directly with airlines and Amex Travel on the first $500,000 you spend within a calendar year
– 5 points on prepaid hotels booked directly with Amex Travel
– 1 point on other eligible purchases
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