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Enhanced Benefits For Amex Platinum Card
American Express sent out an email last night announcing a new generation of benefits for its iconic Platinum Card. The benefits are built for today’s global travelers who enjoy exclusive access, unique experiences and best-in-class service whether they’re traveling across the globe or in their home city. Starting on March 30th, 2017, new benefits are being added to The Platinum Card while there’s a new metal design and an increased annual fee coming as well.
Starting March 30th, Card Members will receive access to:
- Uber Rides with Platinum: Through an exclusive Uber in-app experience, Card Members will receive up to $200 in annual credits for rides within the U.S., as well as VIP status where available. This credit will come as $15 in Uber credits for U.S. rides every month plus a $20 bonus in December, delivered through an exclusive Uber app experience.
- 5X Membership Rewards: In addition to the recently unveiled 5X points for flights when booked directly with airlines or American Express Travel, Card Members will receive 5X Membership Rewards points for eligible hotel bookings. Eligible hotel reservations must be made on or after March 30th, 2017, through amextravel.com, to receive additional points. Fine Hotels & Resorts bookings will not be eligible.
- Expansion of the Global Lounge Collection: Card Members will have access to the growing Global Lounge Collection — over 1,000 airport lounges, located in 500 cities, across 120 countries.
- Complimentary Additional Gold Cards: Card Members will be able to add additional Gold Cards on their Platinum Card Account for no annual fee.
- Access to a new Global Dining Collection: American Express is partnering with world-renowned chefs to provide one-of-a-kind dining experiences around the world, like the Eleven Madison Park Summer House in the Hamptons and Noma Tulum – a pop-up experience in Mexico.
- More Global Events: American Express is expanding its By Invitation Only® program to include more experiences in top destinations around the world, such as the Grand Prix de Monaco, French wine country and fashion tours with Harper’s Bazaar to celebrate the magazine’s 150th Anniversary.
- Continued value at Fine Hotels and Resorts: Card Members will receive benefits such as complimentary daily breakfast for two and guaranteed 4PM late checkout.
- New Card Design: American Express is introducing a new, sleek metal Card design.
These added benefit will be on top of the current benefits that the Amex Platinum card offers. All existing benefits will remain on The Platinum Card including up to $200 Airline Fee Credit for incidental fees like baggage on your selected airline each year, No Foreign Transaction Fees from American Express, Global Entry ($100) statement credit or one TSA Pre✓™ ($85) statement credit every 4 years etc..
Which products will receive the new benefits?
The following Consumer Platinum Cards are eligible for the new benefits:
- The Platinum Card® from American Express
- The Platinum Card® from American Express for Ameriprise
- The Platinum Card® from American Express for Charles Schwab
- The Platinum Card® from American Express for Goldman Sachs
- The Platinum Card® from American Express for Mercedes-Benz
- The Platinum Card® from American Express for Morgan Stanley
Current Platinum Members
New benefits will be effective on March 30th, 2017 for all Platinum Card Members, so current members don’t have to do anything to have these added to their accounts.
For Existing Platinum Card Members, the annual fee will take effect on their annual renewal date on or after September 1st, 2017.
If you want to get your hand on the new metal Card, it will be automatically issued to Platinum Card Members 60 days prior to their Card expiration date or it can be requested beginning on March 30th, 2017. Just call the number on the back of the Card.
Applying For The Card
If you want to take advantage of the current lower fee of $450, you should apply before March 30th, 2017. This way you’ll be able to take advantage of the new benefits, while still paying the lower fee for the first year.
There recently was a 75K offer available for the card, but it has seemingly expired. In the past bonuses have been as high as 100K as well. Right now it seems the best available bonus is the standard 40K offer which is a little underwhelming.
It’s probably best to wait at least till the deadline, hoping for an increased offer. If a 100K offer comes around before then, it’s a no brainer. Otherwise you’d have to consider whether you should apply for a 40K bonus or wait for a 100K bonus and pay $100 more for annual fee, which still is better.
You can only receive American Express bonuses once per lifetime.
American Express is sure feeling the heat from Chase and the 5x on airfare alone, wasn’t enough for the Platinum card to compete against Chase Sapphire Reserve. But these new additions add lots of value.
$200 in Uber credit is very valuable for those who use Uber regularly. Free Gold cards for additional users are great for Amex Offers. Metal design will sure appeal to some people. And then there’s the 5x on hotels, which is good but not as great as it could have been. Unlike the 5x on airfare, hotel booking must be made through amextravel.com and Fine Hotels & Resorts bookings will not be eligible.
Then there’s the annual fee. At $550 it will be the highest in the market. If you take advantage of all the benefits you could easily offset it and it should make sense even in the long term.
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