Post refresh, the Amex Platinum Card charges a massive annual fee of $895. However, it’s loaded with a ton of benefits or coupons, based on the way you see it. However, American Express imposes strict restrictions when it comes to welcome bonus eligibility. The standard T&Cs not only exclude customers that have had the card in the past, but also excludes customers who have had other cards like the Amex Green Card or the Amex Gold Card. However, Amex does send out targeted offers to existing card holders. These targeted offers help bypass Amex’s standard restrictions.
Also Read: Hey Amex, what happened to this credit card?
Amex Platinum Card Upgrade Offers
As per DDG, American Express is targeting people with offers of up to 125,000 Membership Rewards points. Here’s what some of the data points look like:
- 125,000 points after you spend $6,000 in the first 6 months of card membership
- 100,000 points after you spend $6,000 in the first 6 months of card membership
- 75,000 points after you spend $6,000 in the first 6 months of card membership
Existing cardholders of the Amex Gold card are seeing such offers after logging in on the website or the American Express app.
Should you go for these offers?
Bear in mind that if you take up the upgrade offer, you’ll automatically exclude yourself from future offers on the Amex Platinum Card as Amex’s system will record the fact that you’ve had the Amex Platinum Card in the past. Be it a fresh application or an upgrade offer, the path doesn’t matter. So, if you’re looking to wait for a better offer, then the upgrade path may not be the best for your situation. Moreover, once you take up the upgrade offer, you’ll need to keep the account open for at least one year. Amex is quite notorious when it comes to clawing back welcome bonuses from card members who upgrade, get the bonus and then downgrade the card again in less than 12 months.
Also, Amex sends out targeted offers via email as well as regular mail. If you look around the internet, you’ll find that Amex often targets people for offers even though they’ve had the card in the past.
The Pundit’s Mantra
I’ve carried the Amex Platinum Card in my wallet for more than 6 years now. However, I’m not eligible for any of these offers as I have the Amex Platinum Card offered in conjunction with Charles Schwab.
If you’re targeted, then now is a great time to try the card out for a year. Why? Because many of the card’s benefits are offered bi-annually and quarterly. You’ll be able to take multiple stabs at these credits and then take a decision to renew or cancel once the next annual fee is due after a year.
If targeted, would you upgrade to the Amex Platinum Card right away, even with the higher annual fee? 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
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