Major Amex Platinum Card Changes Unveiled: $895 Fee, Big New Credits

This is a great write-up, and it's amazing that you got it published so quickly. Well done!

One minor quibble: the Lulumon section includes a paragraph copied, and unchanged, from the Resy section.

Thanks again for this.

Still only 1X points back on regular everyday purchases though. Would have liked to see that increased.

@ Matt -- Whoops, fixed, thank you! 🙂

Resy credits are as good as cash if you live in NYC, which you do if you’re not a loser.

Lululemon is great for your girlfriend/fiance/wife, which you also have if you’re not a loser.

I actually wish the Saks credit would disappear. You want to see the world’s biggest collection of mouth breathing losers in one place? Go to the basement of Saks Fifth Avenue (yes, that Fifth Avenue) and watch all the pathetic incels walk up one by one to the counter asking for a $50 gift card.

Lemonade, lemon pie, lemon cookies?

😉

It’s too expensive for me to have to do this much work to recover the value. I’m fatigued and done.

I think living in NY you will be a loser pretty soon once you get your new Mayor

If you live in a major city I get it, but otherwise these perks are highly useless for many or require to much effort to keep track. Not for me.

This...is fantastic! I'm genuinely pleasantly surprised.

Much, much, MUCH better than the CSR update.

Good-bye Chase, it's been a good run! Going to focus all spend in the AmEx ecosystem now...

This is a home run. I was cautiously optimistic about the Amex changes and I'm very pleased. Sure I'd like a lower annual fee and I'd like my renewal date to not be in February, but inflation is real and what can you do. Meanwhile, they have coupons that are clear and easy to use and that deliver meaningful increased value, even if there's no reason to put any real "spend" on this card. Amex should be congratulated. Heads should roll at Chase.

Has anyone made an app or site that helps track the usage of the various credits on cards? That would be useful!

I live ten minutes from a LuluLemon and have no desire to shop there.

The new mayor is pathetic, I agree

Keep the Amex for the benefits. Put spend on Citi. Between Strata Premier, Strata Regular and DoubleCash, it's a $95 trifecta ($0 if you use the $100 Premier hotel credit) and a points earning machine.

Chase is now, sadly, a joke after having the best one-two combo in the business for nearly a decade with CSR/Freedom Unlimited. RIP 10/26. It makes no sense for the US banking market leader to antagonize its HNWI customer base in the manner that they just did, and heads should be rolling at Chase.

For Resy what are the examples of purchases I can do on Resy.com for getting the credit?

Image features a Business Platinum. Will you be preparing a separate analysis of the changes to it?

Yeah, that's fair, Peter, that's solid.

For me the Plat CS, combined with Biz Gold & BBP is my cash-back machine, but it depends on one's spend and if one has a business or not.

Completely agreed on Chase, I think the same. I was in their corner for a LONG time, and put a LOT of spend on those cards...very sad what they've done!

@ Craig -- Yep, separate post coming about the business card changes shortly, stay tuned.

I have the business platinum card. Nothing has been removed from what I can tell which is good to see. The 1.5x spending categories has been increased to 2X. The $600 hotel credit and Leaders Club Sterling Status has also been added.

I’m waiting to hear from Schwab about how much (if any) their kickback amount changes.

I don't think you can purchase anything from Resy directly. You just need to dine at one of the restaurants that uses Resy as their reservation system.

With the overlapping Uber and Resy benefits, I wanted to cancel Gold card, accepted a retention offe 15000 MR points for 1500 spend in 3 months

Are these perks per account or per individual card?

You both are pathetic

So do the credits go into effect today? What happens if you already used your hotel credit for the year? Do you get an extra $100 or a full $300?

Something for everyone to be aware (if you weren't already): enroll and use the $75 Lululemon and $100 Resy credits before the end of the month, since they should be refreshing for the October quarter.

I was worried they were going to make 5x on airfare only through Amex Travel - relieved that isn’t the case.

@ Dmitry -- Yep, all the benefits apply effective immediately. It looks to me like the new $300 hotel credit is separate from the previous $200 credit, so you should be able to still get a full $300 credit (though check your account, as there should be a tracker showing what you've used).

Are these new credits effective immediately for everyone who has the card?

@ Omer -- The credits are per account.

@ Regis -- Yep!

@ Anonymous -- Yeah, I'm not sure what the actual online purchases are that can be made, but just dining at a participating restaurant does the trick.

@ Chris -- Amex's website and app are pretty decent in terms of showing trackers for benefits. Other than that, sites like AwardWallet also help keep track of this.

Good to know. I'm planning to cancel my Gold card when the renewal comes up, since I don't spend on it anymore and the benefits don't seem to add up to me. I'd be happy to hold on to it if they provide a retention offer.

Didn't think I would say this, but I'm impressed. Amex got this one right. Lots of credit but certainly useful.

I'll echo another user saying I wish there was a checklist somewhere that would make use of these credits super easy. Then you'd just have to add a bunch of calendar reminders lol.

My Schwab Platinum information has already been updated for today's changes.

Unfortunately, there are no changes to the appreciation bonus. Both the thresholds ($250,000, $1 million, $10 million) and the rebate amount ($100, $200, $1,000) remain the same.

Meh - hike the fee by appx 30% and give you MORE coupons. Lounge still remains WAY TOO CROWDED. This card lost its shine a LONG time ago. Go to CSR or C1VX. MUCH better cards.

Q3r is einding in 12 days, do we have to use the resy credit asap?

So we have 12 days to use Q3 Resy ?

All of these credits across multiple cards make my brain hurt. Does anyone know of an app to help track credit availability/usage across all cards? That would be super amazing. I suppose I could make my own monthly spreadsheet, but ugh, please no.
I need to just find a reasonable way to use the amex points and close the account. The only real reason for the card is Centurion club and the one in Houston is laughably bad.

Oh well.

Looked at my account and it looks like the answer is the full $300 and yes they're in effect

@ben Can you order take out at the restaurant if it’s not through a third party?

Since September 30 would be end of quarter 3 , need to us the Resy credit by then and then have a credit for 4th quarter?

@ BenA -- Yep, you'd want to use the quarterly credits by September 30.

@ Anonymous -- Yep, by September 30!

@ Anonymous -- Yep!

Yes

For an existing cardholder who has already used the $200 hotel credit, would you get an aAlbertdditional $300 before 12/31?

Same! Twas my biggest fear

I live in a town of 15,000 people and have two Resy restaurants. FWIW

Buh bye Amex Platinum. I won't renew my card.

They try to make money from the credit fatigue that you mentioned. It is just a revamped coupon book! Their management in AMEX never gets it.

Didn't see it mentioned but I assume the Saks credit goes away in place of lulu?

Ben, apologies for being slow. Doesn’t the article say that for existing cardholders these new perks kick in after the first renewal in 2026? Or some are available immediately?

These changes look good to me… I use FHR and Resy so that’s enough to offset the fee.

I assume the Equinox credit remains unchanged (?)

Good for you, get the card then lol. No need to debate.

For me most of these credits would either be unused or forced spending on things I would not have gotten otherwise.

Rather keep my Venture X which is half the price, provides lounge access and what not.

Waaaay better than Chase. If you can still get an every other year retention bonus, this seems like a keeper.

You are pathetic and sad

Telling on yourself. Too poor or uncultured to have natural use of the new benefits.

Meh at best. The $600 obviously is better but I happen to be looking at booking a stay in Bangkok right now and the cost through FHR is $200+ more for the Kimpton Maa Lai than through IHG on a breakfast included rate. Resy is nice IF you want to go to restaurants through them. The Oura benefit? I guess for the 10’s of people who want to buy one who haven’t yet. I am lucky and got in just under the wire so I have a year before I have to decide but I just don’t see my spending being enough to justify it.

buy the gift cards online and resale or regift. Easy peasy.

answered my own question....
per the Yahoo article (only one via a google search that quoted the $200 airline credit and Saks credit specifically)

None of the Platinum Card’s previous perks, such as a $200 airline fee credit or the credit to shop at Saks Fifth Avenue, are going away, the company said.

A few comments…
- I was just about to buy some new Luluemon stuff. I can now buy the shirt i wanted, and get some shorts and socks I wanted in October, basically for free. LOL
- Hotel credit has always been a nice benefit, especially given you can get some nice FHR hotels for good prices
- Resy credit can now reliably cover an entire nice meal. You and a partner, each with their own Amex Plat, can eat a good meal for free every month.
- While the changes are beneficial, I am really surprised they didn’t make any changes (positive or negative) to the earnings structure or other benefits of the card.
- Can we confirm that credits like Saks, Equinox remain the same?

Bigger question is should we assume any previous credits not mentioned in this post are now gone (and immediately)? Thinking Saks, Equinox, etc.

Nick at Frequent Miler posted this the other day:
https://frequentmiler.com/coupon-book-tracker-1-0/

@ 305 -- Nope, they're all still there, nothing has changed with those credits. 🙂

@ Anthony -- Yep, those credits remain the same.

@ Voian -- Yep, the Equinox credit remains.

We have been using the hotel credit and my wife and kids love lululemon. Those changes plus Resy and the streaming increase get to more than the total cost of the card.

A few other notes
1) They appear to have launched some new Amex Offers in conjunction with this refresh. I saw 5,000 MR points for a $250 JetBlue purchase in my account, along with a pretty good Hertz cash back offer

2) The new mirror design does not appear to be available on the Charles Schwab version of the card

If i just used the $200 FHR offer last week, will the $300 semi-annual hotel credit still apply if I used it now

Yes it will. Get out of ATL and go to a real city like New York, London, Paris, Tokyo, or Hong Kong.

Are the quarterly resy credits attributed to auth. Users or only primary card holder?

I see a tracker on the Amex website (under Benefits) that shows I have a fresh $300 to spend before 12/31, even though I already spent and was reimbursed for $200 earlier this year.

How do people even trust the value of uberone and uber credits when their pricing is completely opaque?
For all we know Uber upcharges the user on ride cost to offset the “credit”.

i'll guess that fhr margins will be getting a bit fatter to offset bigger plat credit. so, real value of credit will be lower as percentage.

e.g. with $200 credit, you'd find a apples-apples rate of $400 for a room on another site, $450 on fhr; now, with $600 credit, it will be $475-$500.

I was really looking at this update with trepidation - thinking this might be the year I drop it. But... we have been long time users of the Fine Hotels and Resorts. We like the little extras it gets us (like late checkout and breakfast) and about 40% of the time we get a nice upgrade. So for us, the $600 hotel credit is a huge plus. Then, it just so happens that our favorite local is a Resy restaurant. So at $600 + $400, this card more than pays for itself. I agree that the lounge is the one big disappointment. We are based in Charlotte and the one here is usually overcrowded. But we were just in Seattle, flying AA home with no lounge and otherwise homeless - the Centurion lounge there provided adequate shelter and a nice mocha. I'll keep it, but I 100% get where others may not see the benefits

someone will do this, and monetize it, you'll pay for it, and you will like it.

I wish m/c "fraud prevention" didn't create so much unnecessary friction with citi cards. Real problem for me I've never had with amex or visa cards from any bank.

Pull up lyft at the same time and pick the cheaper one... Ubereats pickup is easy to use.

they're lemmings basically. the only analyses ever to have been done show (last was a medium post) that uber one, uber credits, and having a payment cards with uber credits adversely affects pricing.

I'm lucky enough to most often live in a place with lots of transportation options and uber and lyft are my transpo options of last resort and when I do use them, I choose on price alone.

Has this been clarified somewhere? I'm in the same boat.

See if you can get a retention offer, amex is really good about this. This is way more valuable than CSR as a coupon book.

very convincing. Makes me want to get the Amex Plat personal too, along with the Biz version. I wish Amex has some kind of combo credit like the Chase United personal+Biz cards, because a lot of benefits overlap (e.g., lounge access).

Good thing that 80% of the US population lives in or adjacent to an urban area and 1 in 8 people lives in the NY/LA/Chicago metro areas.

Do you think physical Lulu gift card will trip the credit? like saks

Nice flag, thanks -- saw both of those. The JetBlue offers are great (they appear on Citi sometimes too) -- if you fly JetBlue relatively frequently, just book an approx. $250 flight, cancel it, and then use the travel credit whenever.

I think that would cost Amex real money. I will note, though, that I've had an Amex offer a few times this year for "Earn 4,500 additional Membership Rewards® points after using your enrolled eligible Card to spend a minimum of $9,000+ in one or more qualifying purchases within 90 days after adding the offer, up to 3 times." So it's not hugely appealing but if you put a lot of spend on the card (and it could even come on top of airline earn) -- you are getting 1.5x per dollar.

Resy credits work with take out. No tips and service charges (common at some restaurants)

Overall I’m quite happy with these changes. As others have noted the hotel credit is easy to use - we often find the most value while traveling in Europe. Resy - easy as I live in a major metro with numerous options. Happy to see I’ll be getting a discount on my YouTube TV subscription and will also be purchasing more ABC pants from Lulu :).

Ben,

Great overview of the annual fee increase and new benefits.

I need to do the math, but I’m likely going to cancel this card despite the some of the more positive benefits. I love the digital entertainment credit and like the credit increase. On the downside, I’ve had bad luck booking hotels on AMEX Tavel, do not live in an area that allows me to take advantage of the Resy credits, and not interested in the Lulumom or Oura Ring credit.

Nope, I'm out. I have never used Resy and I've never been able to make a FHR stay make sense. I will buy the digital services and pay for them, and buy my Walmart+/Paramount+ through AARP. Even if I buy 3 Delta SkyClub day passes each year, I'd be ahead by cancelling. I've had the card since the beginning, but I can't justify it any more.

why is no one talking about the ending of the 35% point rebate on any airline premium cabin?

To each their own, but the only reason to have the personal gold card is to spend on it—restaurants and grocery 4X. Not really a sock drawer card, regardless of retention offer.

I use the credit almost completely for Uber Eats pickup. The places I order from also have direct web/app ordering. I usually get back about $11 worth of real value from my $15 credit after comparing total price. Sometimes Uber throws in a free item if I spend $25 and I get back around $16 of value.

For the credits that are quarterly, I guess it should be spent in the next week or so before 9/30 for the first credit? Which means Resy & Lulumemon pretty quickly!

These 2 posts from OMAAT for the 2 cards are the best posts in the blogosphere today. Well done!

Took a peek in my area and surprised at how many fewer restaurants are on Resy than when I last checked.

Having to piece together various transactions from various merchants, throughout the year, to justify the huge annual fee, is anything but upscale…..stay classy Amex! (hard pass for me)

@Andrew - Yes you can order take out as long as you pay directly to the restaurant

They didn't change last time in 2021 either so not surprising.

Re: hotel credit, this might be of news to some folks. I literally booked YESTERDAY with intention of using the $200 credit. When I called just now to see if the $300 (semi-annual) credit would/could instead be applied, I was informed (after confirming and double-confirming) that the usual $200 was for bookings BEFORE 9/18. Any new bookings AFTER 9/18 gets the new $300 — meaning I get BOTH this year!

Ben any insights as to whether AMEX will be offering an increased sign up bonus for this card?

I got 125k points for 8k spend in 6 months, just today. Not ready to hit submit yet.

Yeah that's what I'm seeing too. Was hoping for something in the 175k point range for the refresh.

If there was an offer like that, Amex would probably have been shouting it from the rooftops. Am sure somebody might get targeted with an offer like that though.

Why Am/Ex? Nothing says premium luxury like having to go to an app and figure out how to apply coupons on your purchases. Other than LHW Sterling status, there’s no real/tangible travel benefits. Maybe that’s the point, try to whittle off membership to decrease the ridiculous lines at their overcrowded airport lounges but make up for it with the increased fees. Suckers.

I posted separately, but yes it will! It was a pleasant surprise when speaking to customer service. 🙂

Would have been nice if could have applied the Oura credit to monthly subscription instead of a ring purchase. It is not something replaced annually so I do not see this as an annual benefit.

Sorry for my ignorance, but I’m not quite understanding how the Resy credits work. I have the Plat and a Resy account which are already tied together. Do I have to make a reservation through Resy for it to trigger? Is there a way to pay the bill via the Resy app or are you just tapping your Amex and it triggers?

Thanks all!

OpenTable have been paying restaurants to switch over to them. Similar to what Resy did when they were first getting started.

AMEX owns Resy so they’ll know to apply the credit to the restaurant.

Any restaurant that is bookable via Resy should qualify even if you didn’t book a reservation.

As long as your Platinum card is enrolled to receive Resy credits, the credits are automatically triggered whenever you use the card at any restaurant part of the Resy network, irrespective of reservations. Reservations have nothing to do with the Resy credit. The only thing that counts is paying the bill with the enrolled card.

You just pay with your amex card when the bill comes. If they're on the resy network, you'll get the credit even if you didn't make a reservation via resy.

OK, $200 for bookings before 9/18 and $300 after 9/18. What about bookings on 9/18?

Me not knowing they even had it until they cut it. 🙁 I guess this was never a celebrated aspect of the card - I've never read a "8 reasons to apply" article that mentioned it.

Yeah, I was just noticing this in SF as well. 🙁

I'd bet it would work in store. Saks stopped working online some time ago since it charges a 3rd party instead of the org themselves.

Which sucks because the bay area lost their only Saks last year... I'm not flying down to LA for a $50 credit. 😛

@Ken, Regis & Luis

Thanks guys!

Cool story bud. We were all waiting with bated breath on how you felt about this.

Thx for sharing, it means a lot to me and everyone else here!

I cancelled my Platinum during Covid and nothing in these changes makes it any more attractive. I hate how they want to force you into certain brands, whether it is booking their own hotels, using the (desperate) Lululemon (I prefer ASICS and Nike), using UBER etc. My Amex Gold gives me points where I need them (groceries and dining) and a (albeit smaller) Resy credit. I prefer to book my own hotels as I find the Amex/Chase travel sites charge more than the hotel’s own websites a lot of the time.

People keep saying this system is not "upscale," not recognizing that if you are the kind of customer Amex wants -- high consumable/luxury spend, major urban area -- many of the credits are automatic: $200 in Uber cash, $400 in Resy, $300 digital entertainment credit is already the annual fee. $200 in airline incidentals puts you at $1100.

If you are not spending $20 a month on Uber, $100 a quarter at Resy restaurants (probably half the good restaurants in any major metro area), and $300 on some combo of NYT/ESPN/Disney/Hulu/WSJ etc., you are not the kind of customer Amex is trying to pull in these days.

If you've never gone to a Resy restaurant, you must basically never eat out in a major metro area. If you've never been able to make a FHR stay make sense, you must not do much somewhat high-end hotel travel. And if you do neither of those, yeah, Amex isn't trying to pull you in.

What a miserable update. Chase and Citi are going to destroy the platinum. I was waiting to see the new changes before pulling the plug on this coupon book. I finally got a confirmation. Points multipliers were left unchanged. What were they thinking.

You could buy something online….

Seeing nothing here to make me want to give up my Amex gold card.

Ben, (Or anyone that knows the answer) I would like to verify something that I read. If I have an Amex Platinum card that I use for the FHR credit, are my authorized users also eligible to get the same benefit, credit wise? I have seen 2 answers that claim they do, but I find it hard to believe. Thank you!

Any update on which credits will be available to Authorized Users? (e.g., the Uber One Credits)

Congratulations for those in the USA. In Australia not only is the annual fee $1495 it has now been announced that the transfer rate to airlines is being devalued yet again to 3:1. Our earn rate is equal to 1.25 only for each transaction (excluding Government charges). Your revised enhancements with a modest $200 increase is fantastic!

Did the $200 airline fee credit disappear? I don't see it anymore.

1. Are these all credits apply around the world or are there exclusions e.g., US only?
2. Uber: does it work only for travel or also uber eats?
3. This Coupon book gets really think with multiple „rules“. Is there any way to put it in one basic table or something? I totally understand that some people are struggling to monitor all or it (probably this is the intention on AMEX side).

Im so thrilled at these changes. 1 - its a bit much out of pocket and too much work for most of the population so it will take out the ...cheapos and complaining folk 2 - love the add ons...who knows how long this will last. 3. I have a feeling this is just the beginning...with the egalitarian-ness of points and cards, I think AMEX will do a lounge in lounge at some point where it has a more exclusive but u know for like a lot of those folk and tech folks and big spenders...where it gets even more exclusive. my theory. like some lounges already have. surely, FHR is gonna get pricier...

My thoughts exactly. Most of these credits do nothing for frequent international travelers. Uber and Resy credits are explicitly US only. Streaming credits are effectively US only (content is often geo-restricted). And FHR credit is basically a Bed, Bath & Beyond coupon (a discount on inflated prices). I really don't see the value here when cheaper (or even free) cards and less expensive hotel platforms can easily yield similar or better results (eg. A C1 Savor card provides cash back globally on anything food-related).

Thank you!!! im hoping many many more follow suit! opportunity cost right? why waste time, stress, and figuring it out when ur time is worth more than that I say. thanks again

10000%.

its the modern passbook from 90s with coupons to everything. too much work. ur time is better served not wasting on these things. which card will u use more now that ur cancelling platinum?

My thoughts exactly. An Entertainment Club coupon book for 2025. “Get thousands of dollars in valuable coupons!” They’re jumping the shark with the annual fee unless they wrap it up in something more interesting than a bunch of junky coupons.

The increased hotel credit is easy to use and a very good value. The rest are annoying

Im interested in knowing if the Lululemon credits will work at their outlet stores, such as Woodbury Commons, NY That can stretch the quarterly $75 well with discounted items

Did the airline fee credit go away? I don't see it anymore...

Airline fee seems to have vanished?

#2, yes it works for Uber Eats and works especially great for pickup orders where restaurant menu prices are the same on uber as direct order

For #3 suggest making your own spreadsheet to track all these credits!

I've noticed this type of behavior across many apps. Sometimes they include your monthly discount but you're thinking when you get billed you'll get your discount. Then there are other shady apps. For example, target charges higher prices in my neighborhood but if I'm on a vpn and not logged in the prices drop, sometimes drastically depending on how I turn the tables and abuse them trying to abusing me. I've also noticed there are fishy things going on with ride share as well between membership discounts and dynamic discounts. If one is 10% and the other is 5% how does my fare end up the same? I've tested this with friends. It's because they change the base price for each of us, put a strike through over the price to reflect a discount so you don't notice the base price.
Then there is doordash who routinely changes the default tip, sometimes it's 8% sometimes it's 12% and sometimes especially if the order is low the tip could be over 30%. Clearly they're counting on you not paying attention. EVIL!!

It's there, I see it in my application invite

Well would you look at that, I just received the 175k offer. 8k spend in 6 months.

The credit will not work at the outlet stores

Me too!!!!!

Just received a sign up bonus offer of 175k after $8k in spend. If you haven't received it, might be worth waiting for it.

Their T&C specifically exclude outlets.

Awesome!

Picked up the Atmos Summit card recently. It's 3x on dining vs. 4x on dining and grocery, but a $60K spend per card year gets you OneWorld Sapphire AND a 100K Global Companion award. Planning on cancelling Gold on renewal and putting all spend on Summit.

Agree CSR is now a mess. But I will keep my CSP for Primary Rental Insurance and other travel benefits.

Whatever makes you feel better about a ~$1K annual fee…

This is supposed to be a premium travel card. But as can be seen it has devolved into an expensive coupon book.

The comments are how much of a better coupon book this is compared to the other expensive coupon book. All for a drug called lounge access that comes with its own problems like long waits and overcrowding.

Uber and lyft absolutely do this. When you book one, have the person you're with who doesn't have the plan call for the same ride. They will always see a cheaper price than what you're being quoted as the pre discount value