AMEX Platinum is adding a cap to the 5x earnings on airfare and AMEX Travel purchases: the bonus will apply only to the first $500,000 in purchases. This change takes effect on January 1, 2021.
In reality, very few individuals will ever spend $500,000 on airfare. My guess is that some people were using it to book flights for their companies or similar large-ticket purchases. Since the value of 5x points is often higher than the merchant swipe fees AMEX collects, AMEX probably felt the pain. Of course, it’s also possible that some people found unusual MS methods to generate 5x earnings.
Overall, the impact is limited. This card currently also comes with wireless phone service and streaming credits, both of which are pretty easy to use.
Up to $2,600 in annual statement credits; plus a wide range of premium perks!
- Welcome bonus: Up to 175,000 Membership Rewards (spend $12,000 in 6 months)
- Rewards: 5x on airfare and select hotel purchases, 1x on all other purchases
- Redemption: Transfer 1:1 to many airline miles and hotel points programs
- Annual fee: $895（Changes for existing cardholders in 2026）
- Apply now>>