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You can now get 40,000 Membership Rewards Points with The Platinum Card from American Express after spending $3,000 within 3 months.
This is an increase from the previous sign-up bonus of 25,000 Membership Rewards points after completing the minimum spending.
Why Did I Not Write About This Sooner?
Million Mile Secrets reader Louis asked:
Hi. Yesterday American Express launched a new offer for platinum card with increased bonus of 40,000 points (earlier 25,000 points). I got to know of it thru a friend who sent me link to another blog.
Being a long time reader of your blog, I was hoping you would share it with the readers. Why have you not shared it? Any particular reason?
I usually write only about cards which I find interesting, so I don’t write a lot about cash back cards etc.
I didn’t write about the increased sign-up bonus on the American Express Platinum (even though I earn a commission from the card). That’s because you can get 50,000 Membership Rewards points with the American Express Mercedes-Benz Platinum card after completing the minimum spending.
Which would you prefer? 40,000 or 50,000 Membership Rewards points?!
But since Louis asked for more details on the card, here goes!
What Can You Do With American Express Platinum Card
The American Express Platinum card benefits also include:
- $200 in statement credits per calendar year for airline incidentals with your selected airline (luggage fees, in-flight food & drink, etc)
- Access to airport lounges (Delta, Priority Pass, Airspace, and American Express Centurion Lounges)
- Statement credit for Global Entry or TSA PreCheck
- $450 annual fee is NOT waived
- Terms & limitations apply
The $450 annual fee seems like a lot. But with the $200 statement credit you are effectively paying only $250 ($450 annual fee – $200 statement credit).
So an effective cost of $250 is a good deal for 40,000 American Express points and lounge access.
Note that in order to get the $200 credit you must enroll and select an airline online OR call the number on the back of your card.
However, the lounge access benefit is not worth as much as it used to be. That’s because American Express is losing access to American Airlines & US Airways lounges March 22, 2014 (Next Saturday).
American Express cards are great for folks who prefer flexibility. There are many ways to use American Express Membership Rewards points. In addition to getting ~$400 in gift cards, you can also transfer Membership Rewards points to airlines and hotels.
Note that the terms say that you can NOT get the bonus on the Platinum card if you have had a previous American Express Platinum card.
And the terms say that you may or may not get the bonus if you currently have an American Express card. I don’t like how vaguely this is worded, because there is no guarantee that you will get the sign-up bonus if you’re an existing American Express cardholder.
If we identify you as currently having an American Express® Card account, you may not be eligible for this welcome bonus offer. This offer is also not available to applicants who have or have had a Platinum Card® account enrolled in the Membership Rewards® program.
It is nice to see that American Express has finally increased the bonus on the Platinum card to 40,000 points after spending $3,000 within 3 months. But it would have been nicer to see them raise the bonus to 50,000 points to match the competition!
You can transfer American Express Membership Rewards points to select airlines and hotels. You can also redeem 40,000 points for ~$400 in gift cards.
That said, the Mercedes-Benz Platinum card has a 50,000 point bonus after completing the minimum spending.