Amex Platinum Card Revamp: Is It Worth the Higher Fee?

In-Depth Analysis

The Amex Platinum Card has undergone a significant overhaul, introducing new perks and credits designed to enhance its value proposition. The annual fee has increased to $895, making it one of the most expensive cards on the market. However, the added benefits aim to offset this cost for frequent travelers and those who can take full advantage of the new credits.

**New Annual Credits:**

• **Resy Dining Credit:** Up to $400 per year ($100 per quarter) for eligible Resy purchases.
• **Digital Entertainment Credit:** Up to $300 per year ($25 per month) for purchases from services like Disney+, Hulu, Paramount+, YouTube Premium, and The New York Times.
• **Lululemon Credit:** Up to $300 per year ($75 per quarter) for eligible U.S. purchases at lululemon.
• **Uber One Membership Credit:** Up to $120 per year for an auto-renewing Uber One membership in the U.S.
• **Oura Ring Credit:** Up to $200 per year towards the purchase of an Oura Ring.

**Hotel Benefits:**

• Up to $600 in statement credits each year (up to $300 semi-annually) on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel.
• Complimentary Leaders Club Sterling Status with Leading Hotels of the World.

**Rewards:**

The rewards structure remains largely the same, with 5x points on flights and prepaid hotels booked through Amex Travel and 1x points on all other purchases. The Business Platinum Card now offers 2x points on eligible purchases in key business categories and on purchases of $5,000 or more (up to $2M a year).

**Is It Worth It?**

The value of the revamped Amex Platinum Card depends on individual spending habits and the ability to utilize the new credits. If you frequently travel and dine out, and can take advantage of the hotel and dining credits, the card can offer significant value. However, if you don't use these perks, the high annual fee may not be justified. Also consider the value of the welcome bonus, which can be as high as 175,000 bonus points after spending $8,000 within the first six months (offers vary).

**Business Platinum Card:**

The Business Platinum Card has also been updated with an increased annual fee and enhanced benefits for business travelers. New credits include up to $600 in hotel credits and up to $3,600 in credits for flights and One AP (upon meeting spending requirements).

Read source article

FAQ

Takeaways

• The Amex Platinum Card has been revamped with a higher annual fee and new benefits.
• The new credits and perks can offer significant value for frequent travelers and those who can utilize them.
• Consider your spending habits and whether you can take full advantage of the new benefits before applying for the card.

Discussion

Do you think the new Amex Platinum Card is worth the higher fee? What are your favorite perks and credits? Share your thoughts in the comments below!

Share this article with others who need to stay ahead of this trend!

Sources

Disclaimer

This article was compiled by Yanuki using publicly available data and trending information. The content may summarize or reference third-party sources that have not been independently verified. While we aim to provide timely and accurate insights, the information presented may be incomplete or outdated.

All content is provided for general informational purposes only and does not constitute financial, legal, or professional advice. Yanuki makes no representations or warranties regarding the reliability or completeness of the information.

This article may include links to external sources for further context. These links are provided for convenience only and do not imply endorsement.

Always do your own research (DYOR) before making any decisions based on the information presented.