Amex Platinum Just Leveled Up: Is It the King of Premium Travel Cards?
Hey travel enthusiasts! Philip here from Points of Phillip, and I'm fired up to talk about some HUGE news from American Express. They've just dropped some serious upgrades to the Platinum card that, in my opinion, solidify its place as a top-tier premium travel credit card. Amex basically waited for Chase and Citi to make their moves, and then BOOM – they unleashed this. Let's break down what's new with both the personal and Business Platinum cards and why you should care.
The American Express Platinum Card: What's New?
Yes, the annual fee has increased to $895. Ouch, I know! Authorized users remain at $195 per card. But before you freak out, let's look at the incredible benefits that come with that fee.
HUGE: $600 Fine Hotels + Resorts/The Hotel Collection Credit: This is the headline, folks. Previously a $200 annual credit, it's now a whopping $600! It's broken down into $300 every 6 months.
I will be testing this because my wife and I used our credit in June. The app tells me I've earned $0 of the $600 credit, which means I should have $300 to use until December and another $300 starting in January. Stay tuned for a staycation test!
I've used this portal before at places like the Conrad in London, St. James, the Canopy in West Palm Beach, and the Conrad in Fort Lauderdale. The experiences were amazing, I got my Hilton elite benefits, and sometimes the rates are even better than booking direct!
Important Tip: Always double-check the Amex Travel portal against booking directly with the hotel to make sure you're getting the best rate.
$400 Resy Credit: $100 every quarter. You have to enroll and use your Platinum card.
For those familiar with Resy, you don't necessarily have to book through the app to use the credit.
This will cover a date night with my wife at a restaurant like Ravenous Pig (in Orlando). Free date nights four times a year? Yes, please!
Enhancements: You can now sync your Resy and Amex accounts to manage reservations in the Amex app. Plus, "Platinum Nights by Resy" gives you special access to sought-after restaurants.
$300 Lululemon Credit: $75 every quarter (enrollment required). Use your Platinum card at Lululemon. Boom!
Entertainment Credit: Increased to $25 a month (was $20). More vendors are included: Disney Plus bundle, ESPN Plus, Hulu, the New York Times, Paramount Plus, Peacock, Wall Street Journal, YouTube Premium, and YouTube TV.
This could cover most of a YouTube Premium family subscription!
NEW: $200 Aura Ring Credit: The Aura Ring is a fitness tracker you wear on your finger. You'll need a subscription to access all the health features.
You can potentially get an older version of the Aura Ring for FREE with this credit or heavily subsidize a newer one.
What's Staying the Same (Which is Great!)
Global Lounge Collection access.
$200 Uber Cash (plus now Uber One credit of up to $120 annually!).
Airline fee credit, CLEAR credit, Global Entry credit, Walmart+ membership, Saks credit, Marriott Gold, Hilton Gold, Equinox credit.
The Multipliers: Sadly, no changes here. Still 5x on hotels and flights booked through the Amex portal, and 1x on everything else. So, while I won't be using the Platinum card for everything, I'll definitely be using it to maximize those credits!
Keeping Track of It All: With so many credits, it can be hard to keep track! I use Max Rewards to manage all my credit card accounts. The free version tracks due dates, but the Gold version automatically activates offers from Amex, Chase, and more. It also tells you which card to use based on your location and keeps track of your credits.
American Express Business Platinum Card
Multipliers are Changing: 1.5x is increased to 2x on purchases over $5,000. Still earns 5x only on prepaid bookings through the portal (airfare or hotels). The 35% airline bonus is now only available on flights with your selected airline.
$600 Hotel Benefit: HUGE! Didn't have a Fine Hotels + Resorts/Hotel Collection credit before.
For High Spenders: If you spend $250,000 on the card in a calendar year, you get a $1,200 Amex Travel Online flight credit and $2,400 in Amex OneAP statement credits.
What's Staying the Same: $200 airline fee credit, $200 Hilton statement credit ($50 every quarter), lounge program, CLEAR credit, TSA PreCheck, hotel benefits, wireless service credit, Adobe statement credit, Dell Technologies statement credit.
Final Thoughts
So, what do you think? Is the Amex Platinum worth it with these changes? Which credit is your favorite? Which one do you think is useless? Let me know in the comments below!
Thanks for joining me, and I'll see you in the next one!