More AMEX Platinum Changes: Pay Bill by Due Date or Lose Points
Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.
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 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 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.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 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.
With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.
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
Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)
You May Also Like
Join the Discussion!