Additional Enhancement to American Express Platinum Cards In 2017

Let’s face it, American Express’s most reputable Platinum Card has quite the stagnant rewards structure and most of you may have the card in your wallet just to take advantage of the perks, not the earned rewards you get from spending.

The competitive perks and travel benefits including the Centurion Lounge access, world-renowned concierge services, etc., is the biggest benefactor to why AMEX has kept such user loyalty since 1984, however, times have changed and we wholly agree that this card needs a significant boost.  Without a doubt, Platinum’s reputation is the sole reason why American Express is enhancing the card rather than making an entirely new card.

Alternative Credit Card Bonuses:

• Citi Prestige® Card
• Starwood Preferred Guest® Credit Card
• Chase Sapphire Preferred® Card

Platinum Co-Branded Cards:

The additional benefits will be applicable to the co-branded versions of the Platinum Card as well, including:

• Platinum Card From American Express. 
• Mercedes Benz Platinum Card from American Express.
• The Platinum Card from American Express Exclusively for Morgan Stanley.
• The Platinum Card from American Express Exclusively for Goldman Sachs
• Platinum Card from American Express for Ameriprise Financial.
• American Express Platinum Card for Schwab

Editor’s Note: Each card will offer Platinum perks and benefits along with their retrospective Rewards Points Earning or additional perks.

New Platinum Benefits

• $200 Uber Credit in annual ride credits and UBER VIP Status. VIP status gets you access to better cars, and more experienced drivers in select locations. On top of that, you’ll receive $15 in credit automatically each month, and $35 in December. Keep in mind that the balance will expire at the end of the month that it’s issued. Only really beneficial in offsetting the annual fee if you ride with Uber regularly.
• 5x on hotels: You earn 5 Points per dollar spent on flights AS WELL as 5x the points on eligible hotels booked through Amextravel.com. Keep in mind that this will only apply to prepaid rates and does not include hotels booked through Amex’s Fine Hotels and Resorts program or any third-party travel agents. Honestly, what I think the Platinum needs to preserve the utmost consistency and balance is just a 3x on Dining.
• New metal card: Nothing fairly new about a metal card this day and age, but it makes the card so much more attractive to pull out your wallet. You should expect the cards to be sent out and received within a standard delivery time-frame of 2-3 business days. This goes for new customers. Existing members can request the metal card as of TODAY, and automatically receive the metal version within 60 days of the current card’s expiration date.
• Complimentary Gold cards: You will be able to order Gold cards for up to 99 authorized users for no annual fee. Previously, you would have to pay $45 for up to 5 cards. Gold card Authorized Users will also earn 5x points on airfare and hotels, etc. $200 airline fee credit, Uber rides, lounge access is not included.
• Expansion of the global lounge collection, cardholders will now have access to over 1,000 lounges in over 120 countries
• Annual Fee increased to $550

Editor’s View: 

I previously stated that the functionality of the card must be considered, that meant an all-out improvement towards the MR earning structure in order for the card to float to the top of the prestigious credit card food chain once again.

However, it seems to be restriction after restriction. For those of you that use Uber quite frequently, you would have to deal with receiving the $200 Uber credit in increments of $15 a month that expire within the end of the month that it’s issued. Not only that, but the 5x on prepaid hotels limits you to just Amextravel.com booking. In which case, you’d practically find better deals outside with a third-party travel agent like hotels.com.

These two renditions seem to be the biggest move from Amex’s Platinum, however, does it justify the $550 Annual Fee? Some things to keep in mind that a Platinum AU is still $175 for 3 AU. Also they’re making huge expansions in locations for the “global lounge collection,” in which the Platinum is going to be the only transferable-points card to offer access to major US airline’s network of lounges. Whether this opens a horizon of new opportunities may solely be to your discretion, below are some points that I believe should be improved on.

Needed Renditions:

• Increased Sign-up Bonus always makes a card more attractive. With the current public offer of 40,000 MR Points at $3,000 spending in 3 months, it’d be nice to see a boost in the near future. (NOW 60,000 MR Points with $5,000 Spend)
• American Express should really extend the 5x points earning to all hotel bookings, not just prepaid stays reserved through Amex Travel. Imaginably, this card would be even more attractive with such a addition.
• The ability to redeem points for 2 cents each toward airfare much like the Business Platinum.  Amex should also match Chase’s 1.5-cent redemption on other travel bookings, currently 0.7 cents in value when you use your MR points to book hotels.

Conclusion:

Today’s the day! The Platinum Card® from American Express and it’s co-branded variant will be receiving an upgrade in perks and rewards structure. With a $200 Uber Credit, 5x on eligible hotel stays, and complimentary gold cards up to 99 AU, you will be able to reap all the mentioned perks for a $550 annual fee. Now, whether or not these perks are worth it is solely up to you. Personally, I feel that Amex should be pushing harder if they want to stay atop the prestigious card chain, considering that a increased annual fee is the last thing I want to happen to the Platinum. Find our complete list of Credit Card Promotions today!