AMEX Platinum changes - confirmed

[DONZI]

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.

[summerterrace]

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.  

[coldfusion]

---

@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.

[GatorGuy]

Wonder if the Uber and Saks credit are going away. 

[CBartowski]

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!

[jcooks]

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.

[KJinNC]

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.

[CBartowski]

---

@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?

[Brian_Earl_Spilner]

*crosses platinum off list of apps*

[summerterrace]

---

@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.