More AMEX Platinum Changes: Pay Bill by Due Date or Lose Points
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Update: One or more card offers in this post are no longer available. Check our Hot Deals for the latest offers. Travel With Grant reports there are changes coming to how you earn AMEX Membership Rewards points with AMEX Platinum charge cards starting January 1, 2017.These changes will NOT affect folks who pay their monthly statement in full and on-time.
I’ll explain what’s going to change!
What’s the Deal With Upcoming AMEX Changes?
Link: Travel With Grant AMEX Changes
American Express offers several types of charge cards. These cards have no pre-set spending limit, but you have to pay the balance in full each month.
Effective January 1, 2017, Travel With Grant indicates the upcoming changes to the AMEX Platinum charge cards include:
- Lose all AMEX Membership Rewards points earned during the billing period if your statement is not paid in full on the due date
- Lose AMEX Membership Rewards points for returned purchases
- Negative AMEX Membership Rewards point balances will be offset with future earned points
- Increasing fees (from $37 to $38) for late and returned payments
Previously, AMEX allowed folks to get points back for late payments if they paid a $35 fee. But this option seems to be going away.
These changes may impact other AMEX charge cards like The Business Gold Rewards Card from American Express OPEN. I recommend reading your upcoming AMEX statements to see if the updates will affect your cards.
Folks who pay the statement amount each due date will NOT be impacted.
That’s why I always recommend paying your monthly balance in full on all cards. Because if you carry a balance, the benefits of the points will be offset by interest and late charges.
Bottom Line
Effective January 1, 2017, you will lose AMEX Membership Rewards points earned on AMEX Platinum charge cards if you do not pay the monthly statement in full by the due date.
And you’ll no longer be able to pay a fee to reinstate points after a late payment.
Other AMEX charge cards may be impacted as well. Please let me know if you see changes on your statements!
Chase Sapphire Preferred® Card
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Rates & Fees
Other
MORE INFO
Chase Sapphire Preferred® Card
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Intro APR on purchases
N/A
Regular APR
15.99%-22.99% Variable
Annual Fee
$95
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Rates & Fees
Other
MORE INFO
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