Amex Platinum Benefits
Like many of you, I’m patiently awaiting the refreshed versions of the Amex Platinum and Business Platinum. I’m the type who generally prefers managing my expectations rather than wishing and hoping certain things. I could dream of what could come, only to have those thoughts dashed when the new card versions are unveiled. So instead of blathering on about what new Amex Platinum benefits could appear (I did just a bit of that last week), I’m focusing today on what I want the bank to kill ASAP and why.
Walmart+ Membership
In a change I’m confident absolutely no one asked for a few years ago, Amex added a monthly $12.95 statement credit for Walmart+ membership to the consumer Platinum card. Plenty mocked this move, mentioning the addition made the Platinum seem less prestigious. I can personally understand that take but find it largely inconsequential in our situation. All I know is that I got free Paramount+ out of the deal. But so what? Paramount+ has pretty much given itself away since rollout; free subscription promo codes are floating around all the time.
Maybe my wife knows something I don’t, but I’m fairly confident we haven’t used Walmart+ in any substantial way since this benefit appeared. Rather, this benefit got the best of me several months ago. I cancelled the Platinum card I had been using to pay for the Walmart+ membership. Walmart.com subsequently flanked to charging another card I had on file, of course one that didn’t include this benefit. I paid $12.95 for pretty much nothing. Yes, that one’s on me, but regardless, I want this benefit gone.
Shop Saks with Platinum
I’ve enjoyed the consumer Platinum’s Saks benefit over the years, tinkering to get the most out of it while minimizing my out-of-pocket expenses. But, in my view, this benefit has run its course. Saks has raised the minimum purchase amount for free shipping, sufficiently eating into the credit for smaller purchases. Certain Saks employees have been tremendously unhelpful when I’ve tried to use this benefit. Plus, while we’ve never truly had any need for items at Saks, we don’t really have any wants left there, either.
Equinox/SoulCycle Credit
I will now make three irrefutable statements for my situation. Perhaps some of you can relate.
- No Equinox gym exists in my region.
- I do not need another app of questionable additional value in my life.
- I’m not interested in storing a bulky workout device in my home.
- I’d rather not fill my house with the stench of workout sweat.
Conversely, I’m NOT sweating the loss of this Amex Platinum benefit.
TSA PreCheck/Global Entry/CLEAR Benefits
These benefits on the consumer and business Platinum versions, in the form of statement credits after enrolling, are undeniably valuable to many. But they’re also quite superfluous. So many other cards, many less expensive, offer them.
Dell Technologies Statement Credit
I remember that years-old commercial where there’s a dude on a computer whose screen states, “you’ve reached the end of the internet.” I pretty much feel that way about Dell. I’ve bought everything I could ever possibly want or need from Dell.com. This biannual Business Platinum credit has decreased, perhaps compatible with my lack of needs at this point. And, what a clunky site, too! Just end this one, Amex.
Indeed Benefit
My small business is pretty much as small as one can get. Understatement of the year – I will not be hiring anyone to work for my business. Second understatement of the year – even if I was, I would not be using Indeed to do so. Indeed, I have absolutely zero use for this Business Platinum benefit.
Adobe Statement Credit
I also don’t have any need for Adobe products. But even if I did have a minor one, this benefit is pretty icky. A Business cardholder must spend a minimum of $600 on Adobe purchases in order to receive a $250 statement credit. The only individuals who make out ahead here are the ones who already use Adobe and have a need, anyway. That’s not me.
Amex Platinum Benefits – Conclusion
Of course, these perks provide many individuals a certain amount of benefit. But, in my view, the current Amex Platinum benefits apply to too few of us for too little. But that’s the rub. Naturally, as a business, Amex is looking to offer a balance of useful benefits attractive to a just-wide-enough audience while ensuring they aren’t too valuable. I don’t blame them.
I like what seems to be coming up with certain benefits, but I’m also looking for some new ones. Amex, please throw out the above benefits and replace them with something else that I can sort-of use, at the very least.
What Amex Platinum benefits would you like to see disappear and why?
Walmart+ is the only saving grace of this card right now. Oh but thank goodness we just got our new $300 Lululemon (congrats one pair of leggings) and $200 Oura ring credit (really) . Oh and thanks for increasing the hotel credit on your hotels that you already upcharge through Amex travel over what I can get them through the hotel. They did finally get on board with some credits for the digital you the addition of YouTube, however let’s see if the same thing happens that happened with SiriusXM, benefit today… oh too popular??..gone the next. I was fortunate that my renewal came before the upcoming fee increase. Me thinks that next year points get get cashed out and it buh-bye…
Keep up the great work! Could not agree more with the tone of your article. Unfortunately, AMEX Platinum has essentially forced us to regress to the long ago days of coupon clipping from newspaper inserts. Thank you Mom for doing that back in the day. But this is supposed to be a high-end card and not force us to jump thru hoops and examine the fine print to find a worthwhile benefit.
I will say I use Walmart+ because on rare occasions, I want to throw them a bone instead of throwing one to Amazon five days a week. And Clear is helpful because I’ve been a member for many years. But everything else is just a bunch of wasted coupon clipping time for nothing of value compared to the time spent.
Totally disagree about the walmart+ membership. I never EVER step foot inside any of the stores, but use it for shipping. Everything is shipped free and many things deliver in hours from local stores at no cost. Things tend to be lower priced than at amazon, which is far too expensive to easily justify. Quite astonishingly contacting their customer service is very easy with a single click versus 17 hoops and jumps needed to reach amazon’s service. The paramount benefit is nice and just $5 for showtime and no ads so it’s a savings.
The Clear credit is definitely useful since it was debuted. The Saks credit is hit or miss (more miss). The uber credit is useless to me as I have my own car and will only occasionally take it to the airport – $15 barely pays for service fees. The entertainment credit is easily a no-brainer.
Like others, I agree with you on most of these. I say keep TSA/Global Entry/Clear. I also like the free Paramount+ from Walmart+. It allows me to upgrade to premium for $5.99/month. I cut the cord a few years ago and am blown away at how much I spend on streaming. I’ll take any reduction I can get!
You didn’t mention Fine Hotels and Resorts…there used to be a lot in Madrid and Sydney, for example, and now there are none. They have the “hotel collection” but it doesn’t include breakfast. This is a major devaluation given the price of breakfasts at high end hotels.
Dee,
I didn’t mention Fine Hotels and Resorts in this article because I’m a big fan of FHR and the rumored benefit improvement.
This is so simple. Have AMEX send out a e-mail to all Platinum holders. In the e-mail have all of the “perks” listed. Let each Platinum holder check YES or NO for the perk thay want or the perk they do not want. Then your membership renewal will be based upon your requests. Should they not wish to allow us this option, then either go to GOLD or GREEN or just leave.
As my father taught me, “If you want to get someones attention, get dead in the middle of their pocket book.”
LL
I’ll tell you what a useful benefit would be; a reasonable cash advance fee when linked to a checking account. They removed that option years ago, and now they charge an arm and a leg for any cash withdrawals. 5% plus interest accruing immediately.
Agreed, Alan, but it seems like Amex is making money on it. Sigh.
Amazon prime membership plus $300 in travel instantly when booking a flight ticket
Would love to see Amex return to a true traveler’s card rather than an entertainment card!
….or create a new “true traveler’s card,” tomm?
I just found a big carton of coupon books in my garage from the 1980’s that use to sell for $20. I will be offering them up for sale but, due to the current market for coupon books, they will be $895. I will be getting more in the future so I will ship you a new one every year automatically (unless you remember to cancel), however I cannot guarantee that the pricing will not increase. There is at least $1,200 in savings ($80 that is actually usable) in each book.
I agree with most of this except the CLEAR reimbursement, only a few Amex cards off this. I also don’t agree with Walmart+, not only do you get the Paramount subscription but you can get 10 cents a gallon off gas at Exxon, Mobil and Walmart stations (why not at Sam’s, IDK). Walmart+ also offers a 25% discount plus free food at Burger King.
Like most of the Platinum “coupons” they won’t work for everyone and the ‘breakage’ is too high. I won’t be keeping my Amex Platinum for much longer as the fees will never payout in these benefits and frankly it’s too much work. The old saying “I want the baby but not the labor” might apply here.
First, they create these benefits with the intention that you won’t be using them all to your maximum benefit.
Second, not everyone uses the same benefits the same way. Walmart is incredibly useful in some areas where Amazon doesn’t have massive warehouses. And as many commenter said, you could view it as free Paramount+ instead.
Third, with enough planning, you can leverage the benefits so that you break #1 – use them to your maximum benefit. I have stockpiled a large amount of Saks gift cards that will soon pay for Sferra Giza sheets, the best you can buy. But yes, if you are trying to spend $50 every 6 months, it’s really hard.
Can we like, all sign a letter begging them to end Walmart plus? I try to shop at Walmart as little as possible, but honestly I cancelled this benefit months ago and the only difference I’ve noticed is that I can’t get free same-day delivery, which I never used anyway.
I have really outfitted my kitchen with the saks credit, I’d be sad to lose that one. Equinox is totally useless.
I too am excited to see what AmX brings out. I am really hoping they do better than Chase. For me the Chase Reserve Biz is terrible The annual fee in comparison to the benefits it fails to deliver. I obtained the card and appreciate the huge bonus but without the huge bonus I would NOT have taken the plunge to try it out. The coupons it offers in return are not strong enough for me to call it a keeper. I will not be having both the AmX platinum and the Chase Rev next year when renewals hit. One will be axed. It will come down to who will give me more bang for my money. I no longer care about the airport lounges the road to recovery for the lounges is very long. The lounges are terrible. I prefer to have a business/first class ticket which assures me that the number of people there will not be overwhelming. AmX is cleaning house by only allowing people into the Centurion with the Platinum. I don’t like that I can’t bring a +1 without paying unless I do a high spend on the Platinum. I wish AmX would change it and state you have to spend at least $75K in combined AmX cards a year then I would easily get companion. The reality for us that know how to use our cards AmX Platinum is not where most of us do our high spends.
If AmX created the right card with the right bonus tiers and less coupon credits I bet those of us that are enthusiasts would pay the $1K+ a year easily and use it as our primary card to spend on. Give me the grocery, gas, equipment, travel, office stores spending, restaurant, extra points, travel insurance coverage, the extended warranty coverage all in one business card I would jump on it and close down many of the other cards! I call it the Dream Card that gives minimum 5X on many categories with a minimum of 2x on everything else. In my eyes the only bank that COULD even come CLOSE to creating such a card is AmX but I doubt it will anytime soon at least not at this upcoming revamp of their card. This will be a selective crowd they would intend to go after but they would make money because this group is spreading their spend. They force us to use AmX as our primary card carrier! I could live with that!
Walmart+ = indiferent. I was surprised it became an AmX benefit with the Platinum card. I’d expect it at the Gold level.
Saks = Agreed, get rid of it! Horrible credit. Useless
Equinox/Soul = Agreed, get rid of it! I’m a gym rat. I like going to the gym.
TSA – leave it! I like it! The general public doesn’t carry as many cards as us hobby enthusiasts. This is a good one. When I downgrade cards, I like knowing AmX provides coverage for this!
Dell – Agree with you. The golden Dell days are behind. They no longer carry BOSE or other great product lines. Dell killed itself. I feel they will soon die out as a company too. I like Dell I am just being a realist. May as well just get rid of it and replace it with an APPLE credit!
Indeed – Agreed, get rid of it! HORRIBLE, DUMB credit. I bet like only 10% people really use it.
ADOBE – Adjusts it to the old version! Most small business can find use for this one with the old credit. Now that they increased the purchase requirement in order to receive the benefit it’s horrible. They need to go back to the old version of it. How it presently sits means less small business can actually benefit from the credit. The old version MANY people would benefit from it. I am actually mad that AmX made it less friendly for a small business to make use of it.
Walmart + (and Paramount + included) is great. Nice compliment to my Amazon Prime membership. Also I use the Sam’s credit but likely won’t use the rumored Lululemon one (that likely will replace Saks)
Nice (not really) you want to eliminate things that YOU don’t value. Not all about you and don’t think you are in charge.
I’ve never been inside a Walmart and didn’t expect to find a membership useful, but it has become a useful replacement for Amazon. And much cheaper.
We regularly use the Walmart+ benefit with free shipping and gas discounts. One of my favorite features of the Platinum card.
Completely disagree on the first two items, equinox I don’t care, the other two I hope they stay.
I have used the Dell credits to buy video games for my grandkids for Christmas. But I can see why most find them useless. The Indeed, Saks, Adobe and Equinox benefits are of zero value to me. The TSA Precheck is great – every four years – but not the other 3 years.
100% agree with your selections and comments. I spent 10 minutes one day a while back, trying to figure out if there was a small chance I could get any value out of any of them. Nope. Value = $0.
If Amex made the Saks credit like the rumored Lululemon credit, it would be more palatable.
As for the other items on your hit list, agreed.
I actually LOVE the Walmart benefit. I use the free delivery all the time, free burger king, and the discount at Exxon… I’d actually pay for this if they removed it. It is very worth it
Ummm, no. Walmart+ has been my most used benefit, and now I can pay for multiple pre check/GE memberships in my family (utilizing other cards). The rest sure.