Get ready for changes to The Platinum Card® from American Express. The annual fee is jumping to annual_fees, but you can unlock $3,500+ in annual value if you can utilize the credits and benefits associated with the card. Along with this jump in the annual fee comes a welcome offer as high as 175K American Express Membership Rewards® when you spend $8,000 on your new card within the first six months of membership. 

For rates and fees of The Platinum Card® from American Express, see Rates and Fees. Welcome offers vary, and you may not be eligible for an offer. Find out your offer when you apply. Enrollment is required for select benefits.

 
 

Learn How to Apply
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Let’s get into all the benefits and credits:

• 5x Membership Rewards® on flights and prepaid hotels through American Express Travel®
• $200 Uber Cash + $120 Uber One credit – With the Platinum Card® you can receive $15 in Uber Cash each month plus a bonus $20 in December when you add the Card to your Uber account to use on rides and orders in the U.S when you select an Amex Card for your transaction. Plus, when you use the Platinum Card® to pay for an auto-renewing Uber One membership, you can get up to $120 in statement credits each calendar year. Terms apply.
• $209 CLEAR® Plus credit
• American Express® Global Lounge Collection® 
• $200 airline fee credit
• $155 Walmart+ credit – Statement credit for one auto-renewing monthly Walmart+ membership, up to $12.95 monthly plus applicable taxes. Enrollment required.
• $100 Saks credit – Statement credits up to $50 semi-annually for purchases made at Saks Fifth Avenue or saks.com. Enrollment required.
• $600 hotel credit – Get up to $300 in statement credits semi-annually for up to a total of $600 in statement credits per calendar year on prepaid Fine Hotels + Resorts® or The Hotel Collection¹ bookings through American Express Travel® using your Platinum Card®.
• Hilton Honors™ Gold Status
• Marriott Bonvoy® Gold Elite Status
• Fee credit for Global Entry or TSA PreCheck®
• $400 Resy Credit – With the $400 Resy Credit, you can get up to $100 in statement credits each quarter after you use the Card
  to make eligible purchases with Resy, including dining purchases at U.S. Resy restaurants. Enrollment required.
• $300 lululemon credit – With the $300 lululemon credit, you can get up to $75 in statement credits each quarter when you use the Platinum Card® for eligible purchases at U.S. lululemon retail stores (excluding outlets) and lululemon.com. Enrollment required.
• Platinum Nights by Resy – With your Platinum Card®, you get access to Platinum Nights by Resy which offers you sought after reservations at participating top Resy restaurants on select nights. Add your eligible Card to your Resy profile to explore and book Platinum Nights reservations.
• $300 digital entertainment credit – Treat yourself and discover new shows, news and recipes with Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Paramount+, Peacock, The Wall Street Journal, YouTube Premium, and YouTube TV. Get up to $25 in statement credits each month when you make eligible purchases directly from one or more of our participating partners with your Platinum Card®. Plus, Platinum Card® Members will get exclusive access to special perks from time to time. Enrollment required.
• $200 Oura Ring credit – Receive up to $200 in statement credits when you use the Platinum Card® to purchase an Oura Ring at Ouraring.com each calendar year. Enrollment required.

¹The Hotel Collection requires a minimum two-night stay. 

 

My Thoughts on These Changes

No one loves an annual fee increase. However, the benefits and credits are things that I will really use. $300 Lululemon credit? Sign me up! I can use that one for sure, which brings my annual fee to $595.

I already consistently use the $200 airline fee credit and the $100 Saks Fifth Avenue credit, so that makes my effective annual fee $295. I also use the Fine Hotels + Resorts®  credit. It has now been increased to $600 a year, so that will be an easy credit for me to use, and that puts me in the plus column. Then with the Uber Cash credit that I consistently use for Uber Eats each month, I am doing even better. I also regularly use the entertainment credit, which is another benefit that makes this card a no-brainer for me.

Jess has an Oura Ring and loves it. I’ve looked at getting one, and this credit will make that decision easier.

 

Bottom Line

Don’t look at an annual_fees annual fee and think, “no way!” Look at the benefits and see if they will work for you. They did for me at the $695 annual fee, and the new benefits are worth more than $200 in value, so it remains a keeper in my wallet!

 

For rates and fees of The Platinum Card® from American Express, See Rates and Fees.

Opinions, reviews, analyses, and recommendations are the author’s alone and have not been reviewed, endorsed, or approved by American Express®.

 

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