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Unless you’ve been living under a rock, you may well know that this has been the year of premium credit cards, be it the launch of new cards or the refresh of existing products. Back in June, Chase refreshed the benefits on the Chase Sapphire Reserve card and launched a new Chase Sapphire Reserve for Business card. American Express is all set to refresh the person and business versions of the Amex Platinum Card this Fall. By most estimates, we could see these changes announced some time around mid September.
Amex Platinum Card Benefit Leaked
As per DDG, the new annual fee will be $895 and the FHR benefit is getting an update.
At the moment, holders of the consumer Platinum card get $200 in credits when they make a prepaid hotel booking via Amex’s Fine Hotels & Resorts or the Hotel Collection. Apparently, that is about to change after September 18, 2025. Here’s what the new benefit will look like:
- You’ll earn $600 in statement credits on the Amex Platinum Card, when you book directly via Amex’s Fine Hotels & Resorts or the Hotel Collection. This credit will be split into two buckets, you’ll earn $300 each year between January and June and another $300 between July and December.
- You’ll earn $600 in statement credits on the Business Platinum Card, when you book with Amex’s Fine Hotels & Resorts or the Hotel Collection. This credit will be split bi-annually, you’ll earn $300 each year between January and June and another $300 between July and December.
At the moment, we still don’t know how this will work for existing cardholders. For example, I still haven’t used my FHR credit for this year. So, we still don’t know if existing card holders who have paid a lower annual fee will still be able to use the $300 in credits after September.
Why this works well for me
In this post, I’ve explained why the card works well for me. So, before you get you pitchforks out, here’s why I think this is a positive change, at least for the way I travel. Almost all my travel is outside the US.
I spend a lot of time each year in the Asia Pacific region and Middle East at times. Especially in south and east Asia, I always find great use of the Fine Hotels and Resorts benefit. You can often snag high end properties in the $200-$300/night range and you have multiple options to choose from, in cities across the continent, be it Kuala Lumpur, Goa, Mumbai, Bangkok, Ho Chi Minh City, Singapore, Dubai & Abu Dhabi. Again, prices vary depending on whether it’s peak or off season, but I usually find a property that’s pretty suitable for my travel, be it for business or leisure.
So, in fact, if this credit is going to be bi-annual in nature, it won’t really change much in terms of how I travel. I take 2-3 vacations each year, in addition to taking business trips, when I have to. I will find enough ways to use the credit even when it jumps to $600 (2 x $300).
The Pundit’s Mantra
I can understand why this may be a net negative for a lot of people who primarily travel around the US or to Europe. FHR hotel rates are often very high and they may end up overpaying for simply using the benefit.
However, it works perfectly for my style of travel and barring any other significant changes to the card, doesn’t dissuade me from keeping the card open for another year. Also, in case you missed it, I did not jump on to the ‘new’ Chase Sapphire Reserve bandwagon and decided to pass, this post explains the reasons for it.
What do you think about this updated benefit? Do you plan to keep or cancel the card after the new benefit kicks in? Tell us in the comments section.
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Have an interesting travel story? Subscribe to my podcast and join the conversation
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New Credit Card Offers
American Express Business Credit Cards
- Earn 200,000 Membership Rewards points with the Business Platinum Card
- Earn 150,000 Membership Rewards and enjoy a 0% intro APR on the Business Gold Card
Chase Sapphire Cards
- Earn 100,000 bonus points and a $500 statement credit with the Chase Sapphire Reserve Card
- Earn 200,000 bonus points with the Chase Sapphire Reserve Card for Business
Co-Branded Marriott Bonvoy Credit Cards
- Earn 185,000 bonus points with the Marriott Bonvoy Brilliant American Express Card
- Earn 155,000 bonus points with the Marriott Bonvoy Bevy American Express Card
- Earn 125,000 bonus points with the Marriott Bonvoy Business Card
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Darn…guess I’m going to a lower AMEX or cancelling altogether. Many of the ‘benefits’ are not worth it; I can pay for stuff and spend less than $900. Its sad that we don’t get a choice…I mean they have the BLACK card for all this extra fancy stuff; why not let us little people who want a little luxury stay where we’re at? Did they do a market analysis or survey? Just another money grab like everyone else. UGH
So you’re saying, the hotel is so cheap in Asia that I will have to pay for airlines fare to go there just to spend $300 each 6 month? Got it
At $895 I am gone. I am sure a lot of people will leave too. I already pay the $695 plus $275 for each additional card x 2. I can only imagine the additional cards will be bumped up in price too.
Don’t be surprised if the terms of this benefit are updated to be similar to the new chase benefit, where use of the credit requires a minimum 2 night stay. In my opinion, this makes the benefit nearly worthless considering most of these hotels are $400+ per night. This would be nothing more than a modest discount coupon if this happens.
@PennStJerf: The leaked T&C’s didn’t have the 2 night min requirement for FHR.
They lose me at $895
100%
Since most of my travel is at Air bnbs, I’m going to have to work very hard to use this. I hope you’re right about the Saks credit, also impractical for me.
This credit is worthless because booking though Amex is more costly than direct or though discounters.. I hV been a member cince 1967 and ony been able to use AMEX FOR THIS ONE TIME.. Probably 895 will cause me to drop Amex
$600 split annually is perfect. Crockfords Las Vegas costs more than $300 a night so I am spending that amount anyways and I go 2 times a year once in March and once in August. I have both versions of the Platinum so I will just book 2 separate nights. As long as they keep 4pm this would be perfect. If they lose 4pm I’m done with FHR as the property doesn’t recognize diamond and FHR benefits on the same stay.
Great that it works for you!
The bit that always gets me with this benefit is the 1 night/2 night minimum for FHR/Hotel collection respectively.
FHR properties are usually out of my budget range even with the credit, Hotel collection usually runs over budget with me as well if I stay my whole vacation, and can’t use it for an overnight stay in places like Tokyo where I need to connect the next morning.
Increased amount is nice, but being split is a minus. It would have swung the needle towards keeping if it was a yearly lump of $600, but considering cancelling this card again.
@Jinxed_k: Agree, I’ve never used the Hotel collection in spite of having carried the Platinum card for years for precisely that reason. I’m not fond of the two night minimum.
Too much work for too little value. Amex would be smart to keep the current card as is and let Ex-CSR people come to them for awhile.
@DaninMCI: We still don’t know a lot of details, but we should know in a month’s time. I won’t be surprised if the Saks credit goes away.
Well said.
More coupon clipping. Managed to use the $200 FHR credit at the St Anthony San Antonio for a business trip at a $249 rate. Still can’t figure out how to use the $200 on my wife’s card. Managed to use the Chase $250 edit credit for the MGM in Vegas for a concert. But most of the time I’m going out of my way to use these credits.
@Hal: Indeed, that’s true about many FHR hotels in the US, the prices are pretty high already.
Why would I need to add my FHR hotel budget allocation to all of the other things I have to think about? This is billed as a “luxury” card, but really its for people with the luxury of having headspace for stuff like this. I’ll keep my $900 in my pocket and spend it exactly how I like, when I like, through whatever platform I like – real luxury – rather than how Amex demands.
@Mak: Makes sense, for many people, the FHR benefit doesn’t suit the way they travel. Sometimes it’s the availability of properties or the pricing.