Amex Platinum – $0 1st Year Annual Fee (Save up to $625) & 25K Bonus – My Experience & Analysis

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amex platinum no annual fee

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Amex Platinum No Annual Fee (1st Year) & 25,000 Points

The American Express Platinum card is a very popular one in the travel loyalty space. It has a ton of benefits including: lounge access, a $200 airline incidental credit and a global entry credit among others. It also has a hefty annual fee of $450.

Right now the normal public offer on the American Express Platinum card comes with a 40,000 point bonus after $3,000 in spending during the first three months. The annual fee is not waived. Thankfully there is a way to get the card with the ANNUAL FEE WAIVED!

The Ameriprise Financial Amex Platinum

Last year I wrote in great detail about the Ameriprise version of the Amex Platinum card. It normally doesn’t come with a sign-up bonus, but American Express waives the $450 annual fee. That normally isn’t a great deal, because you can often get enough points for signing up to more than offset the fee.

For a few months last year American Express briefly gave a 25,000 bonus point offer on the Ameriprise card in addition to waiving the fee. Thankfully that offer has come back. You can read an incredibly detailed analysis of the offer in my post from last year.

amex platinum no annual fee
My son enjoying the Centurion lounge before our flight last year.

My Experience

I actually applied for this card last year with the same exact offer. Not only is the $450 annual fee waived for the first year, but the $175 fee for up to 3 additional cardholders is waived as well. I was able to get 4 cards, each with their own benefits for a $0 annual cost. (Each of those card earned me $75 during the recent Smart & Final deal by the way!)

In the past year every member of my family has received free Global Entry and we all have access to all of the other benefits of the cards as well. This made a huge difference to me financially. Lets look at what I received:

  • 25,000 Membership Rewards points.
  • $400 in Global Entry Credits
  • All other card benefits.
  • Saved $625 in annual fees

Ameriprise Clients Only

This offer says it is valid for Ameriprise clients only, but there have been numerous data points over the years that anyone can get the card. Last year I heard from dozens of readers who took advantage of the offer without any issues and as mentioned I got the card myself.

amex platinum no annual fee
It feels good pulling this card out, but that isn’t the real reason to get it.

100,000/150,000 Bonus Point Offers

From time to time some people receive 100,000 bonus point offers for this card. (There is an extremely rare 150,000 bonus version as well.) With the 100,000 point offer it can be a tough decision as to which to go for. (There is currently a limit of one bonus per lifetime on personal cards.)

If you plan to have additional users then you will pay $625, but receive an additional 75,000 points. In that case, the points are worth more in cash value than the $625. With that said, some people prefer to save the money upfront and you still have to be targeted for the better offer which isn’t exactly within your control.

Conclusion

I have no regrets in taking advantage of this offer last year. During the past year I have enjoyed both the Priority Pass Select access and the ability to enter Centurion Lounges. In fact, the Las Vegas Centurion Lounge has become a home away from home when departing on trips.

My family also now has Global Entry which is fantastic when returning to the country. Finally I was able to turn those 28,000 Membership Rewards (after $3k spend) points into 39,200 British Airways Avios during the recent 40% bonus, which has given me a fantastic value. A great deal all around!

HT: Doctor of Credit


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16 COMMENTS

  1. If I already had the Amex Platinum bonus in the past, is this card considered a different version for me to qualify since its the Ameriprise version? Since we only get one bonus per lifetime now, I was wondering if this is different.

    • As far as the terms suggest, it is one bonus per lifetime per product. As far as I understand it, the Ameriprise card is still a personal Platinum card so you most likely are not eligible. With that said, I don’t have any data points to absolutely confirm that.

  2. I recently applied for the Amex Premier Rewards Gold card (about a week ago). Do you think too soon for Amex to approve me for a second personal card?

    • It really depends on a number of factors including how many cards you have with them, but I know several people who have been approved for more than 1 card in such a short period of time. (Including myself and my wife.)

  3. The fine print on the $200 credit explicitly excludes gift cards. Were you able to purchase gift cards or did you use the credit for something else?

  4. I ended up being approved for this card even though has just applied for Amex Premier Rewards. Will probably use my credit to purchase gift cards as well. Are these electronic or physical gift cards? Also could I use all 4 gift cards on 1 AA flight or need 4 flights?

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