Amex Platinum Benefits
If I’m a fanboy of anything, Amex is probably the one. And the Platinum cards, both the Amex Personal Platinum and Amex Business Platinum versions, are big reasons why. While some see coupon books (and are very excited to use that tired joke), I see additional opportunities. Platinum new card welcome offers, no lifetime language versions and otherwise, are consistently generous. But the ongoing benefits play a huge role in why we stockpile these cards, also. Here are my top ten Amex Platinum card benefits. How does your list compare?
Platinum Card Benefits
#10. Walmart+ Membership Credit
Maybe the biggest punchline in the Platinum card portfolio, this recently-added benefit is quietly delivering (get that?) for our family. Ironically, using Walmart+ delivery enables us to avoid doing one of our least-favorite things: going to Walmart. We enjoy Walmart’s prices on certain items, but not the brick-and-mortar shopping experience which come with it. More recently, this Platinum perk has trended up with the addition of Paramount+ streaming.
#9. Saks Fifth Avenue Credit
Undoubtedly, this $50 biannual credit can be a nuisance to consume, but I feel it’s a worthy one. I’ve regularly used it for years to zero out certain holiday and birthday gift expenses. More recently, I’ve focused on hoarding credit for more substantial purchases. For instance, I just picked up a $300 gift card at a Saks store by equally splitting the payment across six Platinums.
#8. Lounge Access
A perk of the personal and business versions, I’m sure this Platinum benefit is much higher on other cardholders’ lists. In our situation, we rarely use Centurion lounges or others within Amex’s network. When I do, the lounges have ranged from good enough to get-me-the-hell-outta-here. Unfortunately, this benefit is as unpredictable as it is popular.
#7. Digital Entertainment Credit
Another “nuisance” benefit for many, we get substantial value out of this Platinum credit for certain services we already subscribed to and a few we did not. This past November, we were able to completely cover the costs of Hulu, Disney+, ESPN+, Peacock, SiriusXM, The New York Times, and Audible across multiple Platinums. Oh, and HBO Max, too.
#6. Uber Credit
We have no problem using our monthly Uber credits aggregated in a common Uber Wallet (over $100 per monthcurrently) on Uber Eats purchases and also Uber rides while traveling. Saving on dining (albeit at inflated prices) is nice, but I particularly enjoy using this Platinum credit for closer-to-free travel: short rides, local delivery joints during vacations, etc.
#5. Wireless Credit
This $10 monthly credit isn’t out of this world, but the savings add up for individuals with multiple Business Platinums. With a bit of work, I’ve come close to zeroing out our wireless bill. In our current world of rising prices, any bill staying the same is seemingly pleasant, and a decrease feels like a miracle. I’ll take every little bit with the wireless credit.
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#4. Dell Credit
I didn’t normally shop at Dell prior to picking up a Business Platinum. But the previous $100 biannual credit enabled some probably-needed tech upgrades for our family. And the credit got better along with the $695 annual fee increase not so long ago. Business Platinum cardholders now obtain a $200 Dell credit biannually, unlocking more expensive items without going out of pocket additionally. Thanks to Dell allowing up to three payment methods per transaction, cardholders holding multiple Biz Plats can make a $600 purchase without taking a hit. Dell can be a pain to deal with, but I’m not turning down this credit.
#3. $200 Airline Fee Credit
Both personal and business versions of the Platinum offer this annual credit good for a variety of airline incidentals. Methods for using the credit have come and gone over the years, but I’ve been able to realize the full amount annually without too much extra effort. Cardholders can amass a ton of credits here thanks to it being offered across each Platinum type. Coupling that with a bit of patience has enabled some aspirational travel – more on that in a future article.
#2. $200 Hotel Credit
This is probably the biggest surprise in my rankings. Added as part of the Platinum’s refresh along with the $695 annual fee, I held tempered optimism at the time. The $200 credit can be used for any Fine Hotels & Resorts booking or a two-night minimum Hotel Collection reservation. I’ve had an outstanding experience leveraging this credit on FHR stays. I used three consecutive nights of this benefit in the Washington, DC area. (Yes, I received the property credits for each night back then. This policy has changed, but I’m still experimenting!) I also had a blast hopping around Vegas while maximizing these credits, as well. I’m now tinkering with more east coast properties. In my view, FHR provides elite status a la carte. I’ve genuinely enjoyed each use of this newish Platinum benefit.
#1. Invest with Rewards
Rarely called by its official name in our hobby, I use the Schwab Platinum’s Invest with Rewards benefit to cash out Membership Rewards at 1.1 cents per point. I’ve long been a cashout enthusiast, and this mechanism has played a huge role. Many bemoaned the devaluation of the benefit from 1.25 to 1.1 cpp. But my Membership Rewards redemption behavior remains unchanged, primarily because it’s been tremendously simple to continue earning this currency at scale. Earn points, cash out, rinse, repeat.
Plenty of other Platinum benefits exist, but these are my top ten. Yours probably differ. For instance, some cardholders obtain huge value out of the Business Platinum’s 35% airline bonus benefit, while I do not. I may be bullish on some benefits more than others depending on my situation, but I don’t foresee any huge changes here soon. Many aren’t in the position to hold both the personal and business Platinum versions, much less multiples of either or each. Whether you’re a casual points fan or an active hobbyist, make your own valuations and apply for, hold, or product change cards accordingly. And always be seeking retention offers. How does your Platinum card benefits list compare to mine?
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