topic Re: AMEX Platinum changes - confirmed in Credit Cards

AMEX Platinum changes - confirmed

DONZI — Thu, 01 Jul 2021 12:04:27 GMT

Amex (member site) card offers today shows the new $695.00 annual fee for the platinum charge card.

The fee hike doesn't get more galvanized than that. Have not scrutinized the rest of the card benefits/changes.

AMEX Platinum changes - confirmed

summerterrace — Thu, 01 Jul 2021 12:04:53 GMT

New annual fee is $695. New benefits include CLEAR membership, $300 equinox credit, $240 entertainment credit (for Audible, Peacock TV, and NY Times), $200 fine hotel credit, and private jet program.

New credits definitely aren't worth the raised annual fee.

New welcome offer is 125-150k MR points with $6000 spend in 6 months. 10x on restaurants and shop small.

AMEX Platinum changes - confirmed

coldfusion — Thu, 01 Jul 2021 12:05:18 GMT

@summerterrace wrote:
New annual fee is $695. New benefits include CLEAR membership, $300 equinox credit, $240 entertainment credit (for Audible, Peacock TV, and NY Times), $200 fine hotel credit, and private jet program.

New credits definitely aren't worth the raised annual fee.

New welcome offer is 125-150k MR points with $6000 spend in 6 months. 10x on restaurants and shop small.

The entertainment credit also works for SiriusXM, and its payable at $20/month.

Re: AMEX Platinum changes - confirmed

GatorGuy — Thu, 01 Jul 2021 12:20:47 GMT

Wonder if the Uber and Saks credit are going away.

Re: AMEX Platinum changes - confirmed

CBartowski — Thu, 01 Jul 2021 15:01:07 GMT

Hey Folks - to save everyone the time of going to the site, here are some screenshots of the new benefits. Much more limited than I expected:

The biggest disappointment to me is how they're limiting the Digital Entertainment (must enroll at AMEX.com) and Hotel credits. For the DE credit you have to choose from from only 4 services (none of which are the usual suspects - Audible, Sirusxm, NYT, Peacock) and with the hotel credit you have to get a hotel from the Fine Hotels and Resorts or the Hotel Collection (much more expensive properties). It looks like the other benefits such as experience credits and such still exist at those 2 collections. So they really want us to stay there. No Resy credit, but "exclusive reservations" instead.

Preliminary searches for the Hotels show an average of 500$/night for random off season dates in Hawaii/DC/Scottsdale.

However, many didnt think Equinox credit would work for the app, it DOES. Flip side...app starts at $40/month and you only get 25$ from the credit which leaves you footing $15/month. Have to enroll in this one as well. That is just about the same amount if you were to pay for Peloton app outright so if you're into the fitness apps, 6 in one hand and a half dozen in the other I suppose.

Uber stayed, Airline incidental stayed, Saks stayed

I have to say I was actually really looking forward to these changes but with all of the hamstringing, I might actually bail once I get hit with the 695 in a year or 2.

Hope this helps!

Re: AMEX Platinum changes - confirmed

jcooks — Thu, 01 Jul 2021 12:57:56 GMT

So with $300 credit for gym membership and only $200 for Uber eats, getting this card will help me lose weight? Apping right now!

Anyone else think they're going to introduce a card to fit between the Plat and the Gold? $695 is a huge pill to swallow for some including myself. Curious to see where this lifestyle card will end up.

Re: AMEX Platinum changes - confirmed

KJinNC — Thu, 01 Jul 2021 12:58:05 GMT

Ugh. Will probably downgrade before paying this. Disappointing, because the lounge and hotel status is hard to replace, but it's not worth this much to me. Maybe I'll get a new Hilton Aspire and downgrade Platinum to Green or Gold.

I would be interested to know why they offer these limited, boutique credits. The only new credit I could use is Peacock, and I already have 6% cash back on that via BCP.

Re: AMEX Platinum changes - confirmed

CBartowski — Thu, 01 Jul 2021 13:07:09 GMT

@KJinNC wrote:

I would be interested to know why they offer these limited, boutique credits. The only new credit I could use is Peacock, and I already have 6% cash back on that via BCP.

I agree the digital entertainment credit was a little bit of a bust. I don't know how much peacock is but if your 6% is less than the 20$, still might make at least a little sense for that credit?

Re: AMEX Platinum changes - confirmed

Brian_Earl_Spilner — Thu, 01 Jul 2021 13:14:50 GMT

*crosses platinum off list of apps*

Re: AMEX Platinum changes - confirmed

summerterrace — Thu, 01 Jul 2021 13:25:07 GMT

@KJinNC wrote:
Ugh. Will probably downgrade before paying this. Disappointing, because the lounge and hotel status is hard to replace, but it's not worth this much to me. Maybe I'll get a new Hilton Aspire and downgrade Platinum to Green or Gold.

I would be interested to know why they offer these limited, boutique credits. The only new credit I could use is Peacock, and I already have 6% cash back on that via BCP.

AmEx likely doesn't pay for the credits. So offer something another company is paying for (they consider it advertising), and hike the annual fee. More profit for AmEx.

Re: AMEX Platinum changes - confirmed

pizzadude — Thu, 01 Jul 2021 13:31:38 GMT

I see that the Business Platinum card is still showing $595 AF as of today, wondering if they'll be raising it too.....

Re: AMEX Platinum changes - confirmed

KJinNC — Thu, 01 Jul 2021 13:47:44 GMT

OK, looking closer, there's no Equinox within 4 hours of where I live, so, that one's out. Thanks, Amex. In fairness, I doubt I'd join even if there was one a mile away, but I'd at least consider it.

However, I may be able to magpie enough value from the digital subscriptions to make it work out.

$5 Peacock (already pay this)
$4 NYT (don't currently pay this, but have been considering it)
$11 Sirius (don't pay this, don't want it, but my brother has a Sirius subscription he likes, so this would be me paying his subscription, he'd pay me back in some form)

That is exactly $20/month, $240/year, so I'd actually come out ahead, though it's smallball stuff and adds a bit of hassle. If my brother isn't interested in me paying his Sirius bill, I come out slightly behind, but can deal with it.

Re: AMEX Platinum changes - confirmed

gdale6 — Thu, 01 Jul 2021 14:06:39 GMT

They can keep their card, I would NEVER pay that ever for a card.

Re: AMEX Platinum changes - confirmed

summerterrace — Thu, 01 Jul 2021 14:13:26 GMT

Also the welcome offer language has changed so that you can only get ONE platinum welcome offer. If you have the Vanilla you can't get the welcome offer on the CS or other versions and vice versa.

Re: AMEX Platinum changes - confirmed

imastarboy — Thu, 01 Jul 2021 14:33:39 GMT

Definitely can't say that I'm not disappointed in the new benefits. I can use the media credit, hotel credit, and maybe even the clear credit but these would be things that I'm simply taking advantage of because they're there . Since I'm currently utilizing (not really) the Peloton app for free right now via my CSP I don't see the point in in paying $15/mo. for the Equinox app after AMEX's $25 credit is subtracted.

Re: AMEX Platinum changes - confirmed

4sallypat — Thu, 01 Jul 2021 14:34:55 GMT

@KJinNC wrote:
OK, looking closer, there's no Equinox within 4 hours of where I live, so, that one's out. Thanks, Amex. In fairness, I doubt I'd join even if there was one a mile away, but I'd at least consider it.

However, I may be able to magpie enough value from the digital subscriptions to make it work out.

$5 Peacock (already pay this)
$4 NYT (don't currently pay this, but have been considering it)
$11 Sirius (don't pay this, don't want it, but my brother has a Sirius subscription he likes, so this would be me paying his subscription, he'd pay me back in some form)

That is exactly $20/month, $240/year, so I'd actually come out ahead, though it's smallball stuff and adds a bit of hassle. If my brother isn't interested in me paying his Sirius bill, I come out slightly behind, but can deal with it.

Equinox: same here - I have no interest in a high end gym - I am too old to pump iron with the younguns.

Entertainment credit: already pay $5 Peacock, $7 SiriusXM. Do wish they would include Netflix, Hulu and Apple TV+...

Clear membership: will definitely enroll as my Global Entry / TSA PreCheck is somewhat useless these days with lack of TSA screeners at the airports...

Re: AMEX Platinum changes - confirmed

4sallypat — Thu, 01 Jul 2021 15:03:25 GMT

I just tried to enroll in the $240 digital subscription offer and if failed.

Does this mean everyone is enrolling at the same time ??

Re: AMEX Platinum changes - confirmed

blindambition — Thu, 01 Jul 2021 14:45:20 GMT

While there are some who will find value, this one is baffling to me. Those categories are very limiting. I personally would see more overall value in CSR and Altitude Reserve.

Re: AMEX Platinum changes - confirmed

coldfusion — Thu, 01 Jul 2021 14:54:29 GMT

@4sallypat wrote:
Clear membership: will definitely enroll as my Global Entry / TSA PreCheck is somewhat useless these days with lack of TSA screeners at the airports...

I agree there can be value here for a traveler as the 2 programs are complimentary. Asumming of course that the terminal you're flying out of has a Clear checkpoint, I know for example that's not the case at my home airport (BOS).

Re: AMEX Platinum changes - confirmed

KJinNC — Thu, 01 Jul 2021 14:59:05 GMT

I will probably do Clear simply because it's available, but to me, it's worth very close to nothing, so I didn't even list it in my earlier post.