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Some changes were good (like $200 in Uber credits per year), and some were definitely bad (like an increased annual fee). These changes are now live!
The new bonus is 20,000 more AMEX Membership Rewards points than the most recent offer. But the minimum spending is higher.
I’ll help you decide if this new offer is worth it for you.
AMEX Platinum Gets an Update
The AMEX Platinum now comes with:
- 60,000 AMEX Membership Rewards points after spending $5,000 on purchases in the first 3 months of opening your account
- 5X AMEX Membership Rewards points for booking hotels through AMEX Travel
- $200 annual airline incidental fee credit
- $200 in Uber credit per year (but there are restrictions)
- Airport lounge access to Priority Pass, Centurion, and AirSpace Lounges
- Statement credit every 5 years after you apply for Global Entry ($100) or TSA Precheck ($85)
- $550 annual fee (up from $450) See Rates & Fees)
You’ll also get other smaller perks, like the ability to add additional Gold authorized user cards to your account for no fee (See Rates & Fees), and access to a new Global Dining Collection in partnership with world-renowned chefs.
Here’s a quick explanation of the new benefits!
1. New $200 Yearly Uber Credit
You’ll receive $15 per month ($35 in December) when you add your American Express Platinum card as a method of payment in the Uber app. And you’ll get Uber VIP status (higher-rated drivers, nicer cars) in a few cities.
2. 5X Points on Hotels Booked Through AMEX Travel
You’ll earn 5X American Express Membership Rewards points on hotels booked through AMEX Travel.
That’s a good opportunity to earn lots of bonus AMEX Membership Rewards points. But only folks who don’t care about hotel elite status will get use from this benefit.
Because when you book a hotel through AMEX Travel, your stay won’t count towards elite status, and the hotel will likely NOT recognize any elite status you already have.
What Can You Do With 60,000 AMEX Membership Rewards Points?
There are lots of things you can do with 60,000 AMEX Membership Rewards points! That’s because you can transfer them to valuable airline partners, like Air Canada, Delta, and Flying Blue (KLM and Air France).
For example, you could transfer 30,000 AMEX Membership Rewards points to Flying Blue for a round-trip coach flight from the US to Hawaii. That’s especially valuable if you’re flying from the East Coast, where the same flight could cost $1,000+!
Note: ANA passes along fuel surcharges when you fly on certain partners.
Remember, American Express frequently targets folks for higher welcome bonuses. So keep an eye on your mailbox, or type your information into the CardMatch tool to see if you’ve been targeted!
Check out my post on how to use AMEX Membership Rewards points for flights on United Airlines!
What’s the Verdict?
The new benefits are great additions, and the welcome bonus is terrific. But the card also increased its annual fee to $550 (up $100). That is VERY expensive, and makes it hard for many folks to justify holding onto the card after the first year.
However, depending on your spending and travel habits, this card could be worth keeping. For example, if you spend at least $15 per month with Uber, you’ll save $200 per year with the new Uber credit perk.
And if you use the full $200 annual airline credit, you’ll save a total of $400 per year with these perks! That effectively brings down the annual fee to $150 ($550 annual fee – $200 Uber credit – $200 airline credit). So if the rest of the card’s perks are worth $150 per year to you, it’s a good deal!
Or, if you can get the annual fee waived (for example, folks serving in the military), this card is a no-brainer to hang on to.
If you frequently use the AMEX Centurion Lounges, the increased annual fee might still be worth it for you. Because it costs $50 per person to enter the Centurion Lounges WITHOUT the AMEX Platinum cards. And Centurion Lounges are some of the best in the US, with things like free hot meals and premium alcohol.
Note: AMEX has become less generous with the Centurion Lounge benefit on the AMEX Platinum cards.
The new changes to the AMEX Platinum are now in effect! The card now comes with a higher welcome bonus of 60,000 AMEX Membership Rewards points after spending $5,000 on purchases in the first in 3 months. And it has new travel perks, like:
- $200 in Uber credit per year
- 5X AMEX Membership Rewards points when you book your hotel through AMEX Travel
- The ability to add additional Gold authorized user cards to your account for no fee
But they’ve raised the annual fee to $550! So only folks in certain situations, like regular Uber users, will want to consider keeping this card for more than 1 year.
What do you think about these changes to the AMEX Platinum?
For rates and fees of the Amex Platinum Card, please click here.