The Best New American Express Card Benefit
In my view and many others’, Amex killed it with the Platinum refresh, and maybe a bit less so with the Business Platinum card update. American Express carefully augmented card offerings, enticing new cardholders without alienating existing ones – compared to the competition, at least. Consumers and business owners clearly saw the positives and still do some eight months later. After a solid amount of stick time with such perks, I’ve decided to reflect more on which could be the best new American Express card benefit.
Resy Credit
I’ll start with what’s probably been my favorite addition across the Amex portfolio in recent years. With the September refresh, Amex added a $100 quarterly credit at Resy-participating restaurants to the consumer Platinum. Existing cardholders were familiar with this benefit, with versions offered on other Amex cards such as the Gold and certain Delta cards. The Resy-participating restaurant footprint is considerable, and the credit is refreshingly easy to trigger. Simply dine at a Resy location, and the credit will automatically appear! No actual reservation is required.
lululemon Credit
Perhaps the consumer Platinum benefit I hear people bring up more than any other these days is the lululemon credit, doled out in $75 quarterly increments. From MTM Diamond members to friends and family, I consistently hear how much individuals enjoy using this benefit. The credit has supposedly gotten a bit tougher to use in unique instances, but I and many others haven’t been faced with such challenges. Unlike the Saks credit (RIP, or maybe not), individuals can easily find lululemon products which play well with this perk. lululemon offers a variety of practical, maybe-overpriced items individuals can obtain without going substantially over the credit amount. Attentive cardholders can do even better.
Hotel Credit
In September, Amex updated the hotel credit and applied it to both versions of the Platinum card. The $300 biannual credit is substantially more than the consumer Platinum’s previous $200 annual one. It’s an even bigger addition to the Business Platinum, a card which didn’t previously sport it. I’ve enjoyed using this credit on Fine Hotels and Resorts stays (the Hotel Collection also participates) for years. Thanks to the 50% bump, it’s become easier to do so without going egregiously out of pocket. Even better, it’s now possible to use twice a year.
Dell Technologies Credit
The Dell credit has been a thorn in many Business Platinum cardholders’ sides for years. Using the semiannual $200 credit could be cumbersome, compounded by cancellation issues from frequent Dell orders (fortunately, this seems to have passed). Amex has simplified the credit a bit. It’s now a $150 annual credit for the smallest of businesses. But bigger ones who spend at least $5k at Dell pick up an additional $1k credit. At the start, I selfishly gave a thumbs down to this tweak, since “my” $400 annually became $150. But businesses who spend $5k on Dell equipment, anyway, or who can easily shift such spend there, come out with an easy $1k. That’s a tremendous improvement over the previous version of the benefit.
The Best New American Express Card Benefit – Conclusion
Of course, Amex improved the cards with a plethora of other tweaks and additions, ones I’m not getting into today. This includes perks such as the Platinum’s Digital Entertainment Credit, Uber cash and One status, and Oura Credit plus others for Business Platinum cardholders who spend $250k+ annually.
Regardless of the Platinum product, cardholders will differ on which is the best American Express card benefit. That’s a good problem to have so many different perks to disagree on. The value of each card is quite unique based on the individual and/or business, and the benefits follow that theme. For what it’s worth, the Resy Credit is my favorite benefit, while the Hotel Credit is what I consider the best perk.
In your view, what’s the best new American Express card benefit from the Platinums?
It seems to me that the Platinum’s refresh far surpassed the CSR’s refresh for the average consumer. And, Chase itself reinforces that notion with every one of its subsequent changes. (What the absolute stink?)
As a matter of example, I have a friend who is VERY annual fee sensitive and intolerant of complexity. He’s the kind of guy who wants a single card: 2% cash back. Period Yet, he finds the Amex Platinum so compelling that he has it. It takes little to no effort.
For myself, the Platinum’s refresh was jaw-dropping. When my other friend Mater saw the refresh, he said, “Dad gum!” The benefits are like children: each is great in its own way.