After its most recent refresh, the Amex Platinum Card added new benefits, but also increased the fee to $895. You’ll hear polarizing opinions about the card, some really love it, while others call it an overpriced coupon book. However, this post is not about whether you should get the card, it’s about the timing of the application if you’re looking to get it anyway. Here’s why I think that now is a fantastic time to apply for the card, if you’re eligible.
Also Read: Really worth $600? Unmasking the Amex Platinum Card’s hotel credit benefit
Amex Platinum Card Basics
The American Express Platinum Card carries a hefty annual fee of $895. You need to pay an additional $195 for every additional authorized user. You can add a companion card for free, but they won’t get any of the benefits that authorized users get.
Amex advertises the welcome bonus on the card as ‘up to 175,000 points’. What does this mean? It means that based on factors determined by Amex, you’ll see a variable points offer. Some people are seeing offers as low as 80,000 points while others have received offers as high as 175,000 points.
Timing the Application
Let’s say you apply for the card now and get approved, your card should arrive in a couple of days. This means your second year’s annual fee won’t be billed until mid-January 2027. This means you have a lot of time to maximize benefits until the end of January 2027. Here’s how much time you have maximize the credits on the card:
- Use credits in December now before 2025 ends
- Use credits all through 2026
- Use credits in Jan 2027
Again, this is just based on the assumption that you want to keep the card for just one year. However, timing the application correctly and getting the card now will give you a big head start in terms of how much value you can derive from the card.
The Amex Platinum Card offers a ton of great benefits. I won’t be going over all of them in this post. You can watch this video, in which I go into great detail about the refreshed Amex Platinum Card and its new benefits.
However, let’s do a deep dive and see how much value you can get from the card’s credits if you were to get the card now.
What the Numbers say
| Card Benefits | Uber Rides/Eats | Uber One | Saks | Resy | Hotel Credit | Airline Fee Credit | Digital Entertainment | Lululemon | Oura Ring | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec-25 | $35 | $10 | $50 | $100 | $300 | $200 | $25 | $75 | $200 | |||||
| Jan-26 | $15 | $10 | $50 | $100 | $300 | $200 | $25 | $75 | $200 | |||||
| Feb-26 | $15 | $10 | $25 | |||||||||||
| Mar-26 | $15 | $10 | $25 | |||||||||||
| Apr-26 | $15 | $10 | $100 | $25 | $75 | |||||||||
| May-26 | $15 | $10 | $25 | |||||||||||
| Jun-26 | $15 | $10 | $25 | |||||||||||
| Jul-26 | $15 | $10 | $50 | $100 | $300 | $25 | $75 | |||||||
| Aug-26 | $15 | $10 | $25 | |||||||||||
| Sep-26 | $15 | $10 | $25 | |||||||||||
| Oct-26 | $15 | $10 | $100 | $25 | $75 | |||||||||
| Nov-26 | $15 | $10 | $25 | |||||||||||
| Dec-26 | $35 | $10 | $25 | |||||||||||
| Jan-27 | $15 | $10 | $50 | $100 | $300 | $200 | $25 | $75 | $200 | |||||
| Total | $250 | $140 | $200 | $600 | $1,200 | $600 | $350 | $450 | $600 |
If you add up all the totals at the end, you get a total of $4,390 in value! I don’t expect everyone to find all the credits useful. So let’s take a conservative estimate. Let’s assume that you only get 50% in actual value based on the numbers in the spreadsheet, in line with your spend habits and how well you can maximize the credits. Even with those numbers, you’ll end up with the following, in just the first year:
- $2,195 in value from credits (50% of $4,390)
- Value from the welcome bonus (based on the bonus you’re targeted for). Let’s assume you’ll get a minimum of $1,000 in value for a 80k points bonus and a maximum of $2,000 in value for the 175k points bonus
- I’ve not included other benefits like Equinox credits and Clear Plus. If you find them useful, then your value from the card will only increase in the first year
Also Read: Amex offering unique retention offers on the Amex Platinum Card
Also, this is the value that you’re receiving just by optimizing the credits in the first year. Your total expected value from the card will be a lot more if you factor in other benefits like lounge access, elite status with hotel and car rental programs
Optimizing Value
So, let’s assume you get a paltry 80k offer. Here’s how much value you can get from the first year on the card, without even factoring in other benefits like elite status, lounge access and other benefits.
| Total Value from Credits (valued at 50% of face value) | $2,195 |
| Value from welcome bonus (assuming lowest welcome bonus offer) | 1,000 |
| Annual Fee for the first year | -895 |
| Net Value from just credits & welcome bonus | $2,300 |
The Pundit’s Mantra
Even if you take the most conservative estimates, you’d make well over $2,000 in just the first year of card membership. The Amex Platinum Card is not perfect, but if you were looking to get it anyway, then it makes a lot of sense to get the card right now. Depending on your travel habits, you will make a minimum of $2,300 in the first year. If the card really suits your style of travel, then your expected value in the first year can be well over $3,000 in just the first year of card membership.
I picked up the Charles Schwab version of the Platinum Card in December 2021 and have kept it open ever since. Timing the card application correctly can go a long way in helping you maximize the credits on the card.
What’s your take on the refreshed Amex Platinum Card? Tell us in the comments section.
___________________________________________________________________________________________________________________
Subscribe to my YouTube channel for the latest in miles, points & travel…
___________________________________________________________________________________________________________________
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 125,000 bonus points with the Chase Sapphire Reserve Card
- Earn 200,000 bonus points with the Chase Sapphire Reserve Card for Business
___________________________________________________________________________________________________________________
Never miss out on the deals, news and travel industry trends. Like us on Facebook, follow us on Instagram and Twitter to keep getting the latest content!
