From January through June 2021, US cardholders of any version of the American Express Platinum Card or Centurion Card can receive up to $30 per month in statement credits for PayPal purchases. Since the previous monthly credits of $20 for streaming subscriptions and $20 for wireless phone service have already ended, this new $30 benefit serves as a partial replacement. And because PayPal is relatively easy to use, this is effectively like reducing the annual fee by $180.
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How to Use This Benefit
No enrollment is required. Just add your AmEx card to PayPal, then use that card to pay through PayPal. The purchase must be charged in US dollars; other currencies do not qualify. P2P transfers made through PayPal with a credit card are not eligible for reimbursement. AmEx has also published this FAQ list. If you have multiple Platinum Cards, remember that each card can be used for this benefit.
Promotion period: January 1 through June 30, up to $30 per calendar month.
Terms Details
There are also some exclusions in the terms. For example, cash equivalents or gift cards are not eligible for reimbursement. However, in most cases AmEx has difficulty knowing exactly what you purchased from a merchant, so there is no need to worry too much about that.
In addition, starting January 4, PayPal Key will no longer support payments with AmEx cards, so that option will not work either. If you are not sure how to use the benefit, you could buy gift cards online from stores you shop at regularly.