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Amex Offering Elevated Welcome Bonus for Platinum Card
With the revamped Chase Sapphire Reserve card making lots of headlines, Amex is looking to court new customers with an elevated welcome offer for its iconic Platinum Card.
About the Platinum Card’s Enhanced Welcome Bonus:
The American Express Platinum Card is offering an increased welcome bonus. Currently, new cardholders can earn up 175,000 Membership Rewards points after spending $8,000 in purchases on the card within their first six months from account opening. However, while this is the top deal, offers may vary by applicant. According to Amex, customers will be able to view their offer with no credit impact and can then accept their offer to proceed.
For context, the standard Amex Platinum welcome bonus offer has been 80,000 points for the same $8,000 in spending requirement.
What the Platinum Card Offers:
While the American Express Platinum commands a $695 annual fee, it includes a bevy of credits and benefits that offset or even overcome that cost. Cardholders can earn up to $200 per year in Airlines Incidental credits, up to $240 a year in Digital Entertainment credits, up to $200 a year in monthly Uber Cash, up to $200 per year in credit for Amex Fine Hotels & Resorts bookings, up to $199 per year for CLEAR Plus, up to $100 per year for Saks Fifth Avenue purchases, and more. Plus, cardmembers enjoy complimentary access to Centurion Lounges, Priority Pass locations, and Delta Sky Clubs (when flying Delta).
In terms of rewards, the Platinum card earns 5x points on flights booked directly with airlines or via Amex Travel and 5x points on hotels booked via Amex Travel. All other purchases earn 1 point per dollar spent. These points can then be redeemed for statement credits, travel bookings, or transferred to one of American Express’s various travel partners.
It should be noted that Amex recently announced that the Platinum card would be undergoing “major updates” this fall. However, details on the revamp are not yet available.
My Thoughts:
It was a mere few months ago that I bemoaned Best Western credit cards employing dynamic welcome bonuses of “up to” a certain number of points. So, it’s very disheartening to see American Express now taking the approach as well. At least you can apply and know your offer before taking the hard credit inquiry — but I still hate this dance Amex is putting people through.
With that out of the way, if you are able to get the full 175,000 point offer, I think it’s definitely worth taking advantage of. Although $8,000 is high for the minimum spending requirement, the fact that you have six months to reach it makes it far more reasonable. Also, for context, I only earned 60,000 points when I opened my Platinum card. Granted, the annual fee was “just” $550 back then, but still.
Speaking of annual fees, as mentioned, the Amex Platinum is confirmed to be getting an update this fall — which will almost assuredly result in a price hike. That’s even more reason to take advantage of this offer now. So, if you’ve been eyeing this card, check to see if you qualify for the full offer and jump on it if you do.
P.S. – For more credit card offer updates and tips for getting the most out of your rewards, I highly recommend subscribing to the free Daily Drop newsletter
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