Amex Platinum Now Offering a 60k Point Welcome Offer, Charging a Higher Annual Fee
Update: Some offers mentioned below are no longer available. View the current offers here.
Official Application Link: The Platinum Card from American Express (60,000-point bonus offer)
As of March 30th, the Platinum Card from American Express is charging new applicants a $550 annual fee (up from $450), along with offering some additional perks such as $200 in annual Uber credits and 5x points on hotels. While the higher fee is a bummer, the good news is that Amex has also launched an elevated welcome bonus.
Currently, new applicants can earn 60,000 Membership Rewards points when they spend $5,000 on the Amex Platinum in the first three months. The standard offer is 40,000 points after you spend $3,000 in the first three months, so with this offer you're getting 20,000 additional points.
Is it worth it?
Based on TPG's latest valuations, 60,000 Membership Rewards points are worth $1,140, and based on those same valuations you're getting an extra $380 in value compared to the standard 40,000-point welcome bonus. The Membership Rewards program offers plenty of great redemption options thanks to its 17 airline and three hotel transfer partners, so you have no shortage of options for putting your rewards to use.
Beyond the opportunity to earn an elevated welcome bonus, it could be worth applying for this card thanks to its high-end perks — many of which were recently added. Back in October, the card began offering 5x points on airfare purchased directly from the airline or booked through Amex Travel, giving you an outstanding 9.5% return on these purchases. More recently, Amex announced a new metal card design, a 5x category for hotels booked through Amex Travel plus $200 in Uber ride credits per year. If you use the ride-sharing service on even a semi-regular basis, these credits can recoup a decent chunk of the annual fee — and that's in addition to the $200 annual airline fee credit you can use to cover incidental charges like baggage fees and in-flight meals.
Another big selling point of the Amex Platinum is that it offers cardholders (and two guests) access to the network of luxurious Centurion airport lounges. You also get a Priority Pass Select lounge membership and can access Delta Sky Clubs when you have a flight on that airline. If you don't have lounge access through another card or you value the ability to visit Centurion lounges free of charge, these perks might help move the needle when you're deciding whether or not to apply.
Bottom Line
It's unfortunate that you'll now have to pay $100 more for the Amex Platinum card, but at least there's some good news to balance things out.
60,000 Membership Rewards points is a solid offer, but it isn't the highest elevated welcome bonus we've seen for this card — 100k offers are known to pop every once in a while — and we're even seeing some targeted offers for 75,000 points after you spend the same $5,000 in the first three months. Make sure to check the CardMatch tool to see if you're eligible for a higher offer, but at the very least you're looking at 20,000 extra points over the standard bonus. And thanks to the recently added 5x bonus categories and new perks like Uber ride credits, this card is one of the top premium options to consider adding to your wallet.
It's unclear how long this offer will be around, so if you're interested, consider applying sooner than later.
How would you redeem 60,000 Membership Rewards points?