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As travel is disrupted by the coronovirus epidemic, a credit card with huge travel benefits and a $ 550 annual fee to match may not be attractive. The Platinum Card from American Express becomes competitive, however, with a new sign-up bonus, you also pay for the rewards you are buying at home.
Here is more about this offer for new card holders that adds value to major travel cards.
What is the offer?
New cardholders can earn 75,000 bonus points after spending $ 5,000 in the first six months. Those points cost around $ 750 and can be redeemed for gift cards, products, and options for travel and entertainment.
This is a $ 150 jump in value from the previous 60,000-point offer, which new card holders had three months to earn.
The latest offer also upgrades bonus points on purchase. You will earn 10 points per dollar up to $ 15,000 at US gas stations and US supermarkets in joint purchases during your first six months as a cardholder.
Of course, a Platinum card Packed with other perks, some of which include:
- Five points per dollar on flights booked directly with airlines or through the American Express Travel Portal
- Five points per dollar on prepaid hotels booked through the AmEx Travel Portal
- $ 200 annual airline fee credit
- $ 100 hotel credit on qualifying fee when booking with hotel collection of properties in major cities
- Hilton Honors Gold status and Marriott Bonvoy Gold Elite status, plus room benefits such as upgrade, late checkout, early check-in and daily breakfast, at over 1,100 properties worldwide
- Uber rides up to $ 200 a year
- Up to $ 100 Statement credit Saks Fifth Avenue Annual Purchase
- Up to $ 20 per month in statement credits for US streaming subscriptions through December 31, 2020
- Up to $ 20 per month in credit credits for wireless phone service from US wireless phone service providers through December 31, 2020
Is the proposal worthwhile?
with Sign-up bonus If you plan to spend $ 5,000 on the card in the first six months, the MX Platinum card worth $ 750 is worth a look. The sign-up bonus exceeds the $ 550 annual fee, plus you can earn rewards to redeem later and still exceed the value in the first year.
After that, you will need to consider how much value you can get from the rewards and benefits.
Compare Welcome Offer
Before applying for a platinum card, see how its introductory bonus compares with others:
Should you claim the offer?
The $ 150 value for the sign-up bonus is not huge, but is rarer than the American Express Platinum card. New bonus points for gas and grocery shopping, coupled with statement credits for streaming and wireless services, mean that this card can offer good value even without travel.
A separate card may be a better option if you are not worried about making the most of your welcome bonus and do not think you will get enough value from the platinum card. Travel credit card competition There are similar introductory bonuses and rewards, but many premium cardholders do not come with a bill of benefit that sets off the large annual fees of MX Platinum cards.