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[Updated 10/5] Current cardholders now see the following notice after logging in: on January 11, 2019, this card will automatically be converted to the regular Platinum card. That means the whole set of Mercedes-related perks will be gone. The good news, however, is that after the conversion, you can freely downgrade it to the recently refreshed AMEX Gold card, which offers 4x at supermarkets and restaurants + 3x on airfare + airline credits + dining credits, so it is still a very strong card.

[Updated 3/2] The application page for this card now shows that the partnership agreement between Mercedes and AMEX expires in January 2019, so anyone interested in applying should act quickly. The 60,000 MR welcome bonus is still very attractive. The main difference between this card and the regular Platinum card is that it comes with quite a few Mercedes-related perks, such as 5x on Mercedes purchases, a $1,000 vehicle purchase certificate, a $100 accessories certificate, etc. If you are planning to buy or lease a Mercedes in the near future, this card may be worth considering. Here is our analysis related to applying:

  • Based on the wording, this card will be converted to another AMEX card in January 2019, most likely the regular Platinum, which would effectively eliminate these Mercedes perks. In theory, if you have never applied for the regular Platinum before, getting it through a product change should not affect your ability to earn the regular Platinum welcome bonus later. That said, this card is probably better suited for people who have already had the regular version.
  • AMEX airline fee credits are based on the calendar year. So you can use one $200 credit this year, then another $200 credit next year before the annual fee posts. Even if AMEX converts it to the regular Platinum before January, the airline credit benefit stays the same, so no matter how you look at it, you can get back $400 + $200 a year in Uber Credit. If you can fully use both benefits, then on paper this card is definitely worth it.
  • Besides this card, the lower-tier AMEX Mercedes credit card will also be discontinued. However, we do not recommend applying for that one because the welcome bonus is relatively weak.

Mercedes-Benz Platinum Card Overview

Key Features

  • Welcome bonus: 40,000-75,000 MR
  • Earning MR points: 5x on Mercedes-related purchases, 5x on eligible airfare purchases, 1X on all other purchases
  • MR point redemptions: Transfer to many airline mileage programs and hotel point programs; see the MR guide for details
  • No foreign transaction fee
  • $200 airline incidental fee credit per calendar year
  • $550 annual fee (not waived for the first year)

Highlights

  • Mercedes-related benefits: This is a Platinum card issued through a partnership between AMEX and Mercedes, and it offers several Mercedes-related benefits beyond the regular Platinum card
    • 5x on Mercedes purchases: If the dealer allows you to pay for a car with a credit card, using this card would be fantastic since you could earn a huge number of MR points, effectively like getting an 8% discount. Still, we suggest negotiating the price first before bringing up the credit card payment option. And of course, earning 5x on routine Mercedes expenses like oil changes and repairs is also very nice.
    • $1,000 vehicle purchase certificate: After spending $5,000 each year, you receive a $1,000 certificate. It can be used toward the purchase or lease of a new Mercedes, though only one certificate can be used per transaction.
    • $100 Mercedes certificate: Each year after paying the annual fee, you receive a $100 certificate that can be used at Mercedes dealerships. It can be used for shopping, repairs, oil changes, and other miscellaneous charges.
  • 5x MR on airfare: [Updated 10/6] A new 5x MR benefit on airfare purchases has been added. You need to purchase directly from an airline website or through AMEX Travel to receive it. My personal guess is that any charge processed directly by the airline should trigger 5x, such as orbitz, but that still needs to be verified. As for whether MPX can earn 5x, that also requires testing. The detailed terms can be found in the benefits section for the Platinum family of cards. This benefit applies to all versions of the Platinum card, including the regular Platinum, Mercedes Platinum, Schwab Platinum, and Ameriprise Platinum.
  • Airline fee credit: $200 in airline incidental fee credits per calendar year, effectively reducing the annual fee to $350 (click here for the detailed instructions)
  • $200 in Uber credits: After adding the card to your Uber account, you receive $15 in Uber credit each month and $35 in December, for a total of $200 per year. Any unused monthly credit expires automatically. You can also use Uber credit on Uber Eats.
  • Charge Card: No preset spending limit (theoretically unlimited)
  • AMEX card benefits
    • AMEX Offer: $20 back on $20 at Amazon; $5 off $15 at Walmart; $10 off $75 on phone bills. Generous AMEX often sends cardholders great offers that let you earn cash back while spending. For more details, see: AMEX OFFER guide and AMEX best offers summary
    • Free ShopRunner membership: Enjoy free 2-day shipping at many online stores. For details, see the official link
    • Extended warranty: Items purchased in full with an AMEX card get an extra year added to the manufacturer’s warranty automatically
    • Free reports: Some users can check their credit score for free, and you can get one free credit report each year
  • Includes many premium benefits (official benefits page)
    • [New] Hilton Gold status, which includes free breakfast
    • Starwood (SPG) Gold status, with complimentary room upgrades and high-speed internet
    • Premium airport lounges (Centurion Lounges, Delta Sky Clubs, Airspace Lounges,Priority Pass)
    • Reimbursement for Global Entry and TSA Pre fees
    • Fine Hotel benefits with eligible stays (details)
    • Free public Wi-Fi: Boingo membership
    • Free magazines, InCircle membership, elite status with Avis, Hertz, National Car Rental, and more
    • After adding authorized users (authorized user cards require an additional annual fee), those cardholders can also register for the benefits above as well, usually by phone

Things to Do After Getting the Card

Although this card comes with a large number of benefits, unlike most cards, many of them require manual enrollment before they take effect. So we are listing them here specifically in the hope that no one forgets to register:

  • Use the $200 airline incidental fee credit for each calendar year (via MPX or by purchasing airline gift cards)
  • Enroll for complimentary Hilton Gold status: enrollment link
  • Get complimentary SPG Gold status: enrollment link
  • Complimentary Boingo premium membership: enrollment link
  • For the rest of the benefits that require enrollment, you can find them all in the official benefits page, so I won’t list them one by one here.

Cons

  • This is a charge card, so you need to pay the statement balance in full after each billing cycle; otherwise the interest is extremely high.
  • The annual fee looks very high at $550, and adding authorized users also requires an additional annual fee.

Points System Overview

  • Points Value: The average value is 1.5c/p, so 100 MR = $1.5 (Points Value & Analysis)
  • Direct Redemption: Redeem travel through amextravel.com at 1c/p (without a premium card); redeem eligible flights through amextravel.com at 1.54c/p (with Business Platinum); redeem for cash in an investment account at 1.1c/p (with Schwab Platinum).
  • Points Transfers: Transfer 1:1 to ANA miles (good for round-trip US-China flights and round-the-world tickets); transfer 1:1 to British Airways miles (good for China-Japan routes and short-haul domestic US redemptions); transfer 1:1 to Air Canada miles (good for US-China business class awards and infant tickets); transfer 1:1 to Delta (good for business class, and can also redeem any Delta flight at 1c/p).
  • Points Features: All MR points earned by one person are pooled into a single account and can be used directly. As long as you still have at least one MR-earning card open, all MR points will remain valid; be sure to use them up before closing all of your cards. Nearly all MR-earning cards allow you to transfer MR points to airline miles or hotel points. MR points can be transferred to airline or hotel accounts in an authorized user's name.
  • My Take: The most common use of MR is transferring to airline miles, mainly ANA, Air Canada, Delta, and British Airways. Delta can help cover SkyTeam options; ANA and AC can selectively cover Star Alliance options; BA can be used for some oneworld awards. Among these, ANA is especially valuable for US-China economy, business, and first class awards. AC and Delta are also good for covering domestic US flights, while BA is best for nonstop domestic US flights. Hotel transfers are a weak spot for MR, and none are really worth transferring to. As for booking hotels or flights directly through AMEX Travel, you usually only get 1 cent per point in value, so I generally do not recommend it. Cash back and gift cards also max out at only 1 cent per point. Therefore, the final valuation is 1.7c, mainly considering the broad airline partner coverage, mostly instant transfer times (ANA takes 2-3 days; others are instant), and the value of these airline miles. The weaknesses are that MR is not very useful for hotel redemptions, and direct airfare bookings do not provide strong value either.
  • Detailed Analysis: Membership Rewards Guide >>

My Take

If you own a Mercedes-Benz, or are planning to buy or lease one, I’d recommend applying for this card. First, the $1,000 vehicle purchase discount certificate is basically free savings. The $100 annual spending credit can also help offset Mercedes-Benz maintenance costs. On top of that, 5x points on Mercedes-related spending can help you rack up a lot of MR points quickly. Add in the $200 airline fee credit and some solid AMEX Offers, and the card can pretty much justify its annual fee. You also get lounge access plus elite status with hotels and rental car programs, which is quite nice. Of course, it can also make sense to hold the card for a year just to use it for a car purchase.

Personally, I don’t own a Mercedes-Benz, and I probably won’t be buying a car anytime soon. But I’m still planning to apply before the big offer expires on June 22, and the reason is simple: the all-time-high 75,000-point welcome bonus. Transferring 75,000 points to ANA miles or Air Canada miles can be enough for a round-trip ticket between the U.S. and China, and in some cases that can be worth $1,500. At the same time, after getting the card you can use the $200 airline fee credit once, then do it again the following January for another $200. That effectively brings the first-year annual fee down to just $75, while still getting 75,000 MR points, which is really hard to resist.

That said, a warning for anyone considering this card: don’t spend too much too quickly right after getting approved. This card is a Charge Card, and in AMEX’s risk model it is especially easy to trigger a Financial Review. If you fail it, AMEX could shut down all of your AMEX cards. For more details, see: Why AMEX Credit Cards Get Shut Down.

Application

Application Link