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One of the most common inbound messages that I’ve received over the last few days is “should I get the card now or later?”. So, I thought it would only be apt to write a blog post about it. The Amex Platinum Card is about to undergo a refresh and the details will be announced tomorrow.
Amex Platinum Card: Get it now or later?
Before we make a comparison, bear in mind that you can only get the card if you’re eligible based on Amex’s ‘once in a lifetime rule’. Amex has, over the years, expanded the rule to include your history with other Amex cards as well.
You may not be eligible to receive a welcome offer if you have or have had this Card, the Platinum Card® from American Express Exclusively for Charles Schwab, the Platinum Card® from American Express Exclusively for Morgan Stanley or previous versions of these Cards. You also may not be eligible to receive a welcome offer based on various factors, such as your history with credit card balance transfers, your history as an American Express Card Member, the number of credit cards that you have opened and closed and other factors. If you are not eligible for a welcome offer, we will notify you prior to processing your application so you have the option to withdraw your application.
Before v/s After Refresh
In case you’ve missed it, you can refer to this post for a complete coverage about the Amex Platinum Card. We’ve covered the rumors, in addition to information that has already been leaked. Based on that, here’s a handy table for you to compare and see what works better for you.
A caveat before we proceed:
The information about the upcoming refresh is based on credible rumors, leaked screenshots from Reddit and information posted by other travel blogs based on their sources and not based on any official confirmation from American Express.
I’m guessing that the new welcome bonus on the consumer version of the Platinum Card will be around 200,000 points. Why? Recently, we got some leaked information about the upcoming refresh to the Business Platinum Card, which showed a welcome bonus of 200,000 Membership Rewards points. Therefore, I’m guessing that the Amex Platinum Card would come out with a similar bonus, if not higher.
| Feature | Before Sept 18 Refresh | After Sept 18 Refresh |
| Annual Fee | $695 | $895 |
| Welcome Bonus | Up to 175,000 points | 200,000 points? |
| Design | Current Design | Current Design or new Mirror Finish Design |
New Features
So, if you’re on the fence, then here’s what you need to know. Will you be willing to pay an extra $200 for these new benefits in addition to the existing suite of benefits on the Amex Platinum Card?
- $400 Resy Credit ($100 per quarter)
- $600 Fine Hotels & Resorts/The Hotel Collection Credit ($300 bi-annually)
- $120 Uber One Credit, in addition to $200 in Uber cash that card already offers
- $300 Lululemon Credit ($75 per quarter)
The Pundit’s Mantra
If you’re on the fence then you have a simple decision making framework now. Ask yourself, should I pay an extra $200 in annual fee for the possibility of getting the above mentioned credits (new features) and a possible extra 25,000 Membership Rewards points as the welcome bonus?
If not, then can I get the card now and try it out with the lower annual fee. You may earn a slightly lower welcome bonus, but you’ll be able to use all the new benefits after the refresh is announced tomorrow. In effect, you’re getting one year to use both new and old benefits at a price that’s $200 cheaper.
In which direction are you leaning with the Amex Platinum Card? Do you plan to get one now or later? If you’re an existing cardholder, do you plan to keep this card in the long run or cancel? Tell us in the comments section.
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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 125,000 bonus points with the Chase Sapphire Reserve Card
- Earn 200,000 bonus points with the Chase Sapphire Reserve Card for Business
Co-branded Delta SkyMiles cards
- No annual fee for the first year, earn 80,000 bonus miles with the Delta SkyMiles Gold American Express Card
- Earn 90,000 bonus miles with the Delta SkyMiles Platinum American Express Card
- Earn 125,000 bonus miles with the Delta SkyMiles Reserve American Express Card
- No fee for the first year, earn 90,000 bonus miles with the Delta SkyMiles Gold Business American Express Card
- Earn 100,000 bonus miles with the Delta SkyMiles Platinum Business American Express Card
- Earn 110,000 bonus miles with the Delta SkyMiles Reserve Business American Express Card
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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$400 Resy credit and $300 entertainment credit almost cover the AF. I got the card in August under the $695 AF. Got the 175k point bonus, so I’m extremely happy. As far as keeping through the next AF? I think there’s a possibility.
That’s great. And what’s even better is that you don’t have to worry about the higher AF until Aug 2026.
Ive been here 45 years and it’s time to go. No longer travel, not offering decent perks. Who is going to use lulu lemon? At 695 I was on the fence, today I’m unlocking the gate and leaving. I couldn’t possibly use $895 in perks.
I can understand. Many folks aren’t too pleased with the foray into dining and entertainment benefits.
I waited for the refresh only to discover that they are offering the same welcome bonus (175k points) as before. What gives? What was the point in waiting?
@JacquesMiele: That’s always unpredictable. the biz plat has a bonus of 250k via referrals, 200k public and 300k targeted in some cases, but max 175k on the consumer version.
“I’m guessing that the new welcome bonus on the consumer version of the Platinum card.” – did you bother to proofread before you posted?
I have been with AMEX for 47 years. I will now drop my platinum card. It’s not worth the money to be pigeon holed into captive vendor to recoup the additional cost. Than not a benefit! So I would now receive Lululemon rewards, what a bazaar reward to entice me to spend an additional $200. The AMEX platinum card major benefits that business people enjoyed, have slowly disintegrated over the years. I have two gold cards and two platinum cards at this time and use them daily on international business trips. Over the years the points and benefits have continued to devalue over the years. I hate to say this but I think I will most likely switch to a more useful card in the future. AMEX platinum was the best of the best years ago, but the cost benefit is not there anymore.
A lot of old timers have been irked by the change in the value prop of the card. It’s a common sentiment I’m seeing.
I’m quite stressed out trying to use the credits from amex (this platinum and all those Hilton amex with $50 here and there). Can’t imagine the Coupon book getting more complicated going forward with dell credits, Hilton resort credits and $50 hilton and $50 airline credit per quarter and now Lululemon and resy(?) credits this will sure keep me very busy…..
@TheShark: I Agree, credit card optimization fatigue is a thing!
When I got the Platinum, they offered me 175,000 points. I absolutely took the offer and have used 90% of the benefits so far. I paid $695 annual fee but I’ve received/used over $3500+ worth of benefits so far. I’m excited to receive the new “refresh” benefits after 9/18. Even with $895 annual fee, I would still get more back from the benefits. If you travel (fly, hotels, lounge), use Uber/Uber eats, dine at restaurants…you will get your $895 and more back. I will keep my card for sure.
@Amy: Absolutely amazing that you’re getting so much value out of the card!
I think people aren’t realizing that $895 simply isn’t a lot of money anymore, A hamburger can be over $20 now. Come on. The $400 Resy perk alone covers nearly half of this cost. It’s still a no brainer to me.
Nice! Very informative. I have decided to wait for the new offer
Thanks for the feedback!
Where is the 175k welcome bonus offer? I am considering the Schwab card and it’s 80k as far as I can tell
@Jeff: It’s up to 175k points. So once you click on the application link, you’ll see a personalized offer, which may be as high as 175k points.
Ah, so the 80,000 points on the website may likely be all I can get if I didn’t get a personalized offer?
Amex’s absurd marketing of the higher price has removed the scales from my eyes and made it crystal clear that this is a card for unthinking people who crave status and will engage in the mental gymnastics necessary to convince themselves that it’s a great deal for them. A card with a “mirror finish” and I only have to pay an extra $200 to get it?!? Give me a break.
@Mak: While we don’t have all the details confirmed yet, yes, it does look like a lot of work tracking so many credits.