The American Express Platinum Card (The Platinum Card) has long been weak at earning points, earning only 1x Membership Rewards points for every type of spend. Compared with Chase’s latest Sapphire Reserve and Citi Prestige, it was a headwind. As a result, rumors have flown around that AMEX might upgrade the Platinum Card or launch a new one. Excited!
However, the Associated Press (AP) reported today that an Amex spokesperson has confirmed the Platinum Card has received new benefits:
- The Platinum Card earns 5x Membership Rewards points on airline purchases and purchases on AmexTravel.com, with no cap. (FHR spend likely does not count, since the transaction is made directly with the hotel.)
- Business Platinum earns 1.5x Membership Rewards points on each transaction over $5,000.
Comparison with Other Cards
Sapphire Reserve and Citi Prestige both offer 3x points on airfare. Although the value of TYP, UR, and MR differs slightly, unless your annual spend on airfare and AMEX Travel exceeds $3,000, the Platinum’s $450 annual fee (effective $250 after rebate) is more than $100 higher than the other two cards and the extra 2x points cannot fully offset that difference. You can run the numbers. For people who frequently buy airfare, the Platinum may be a worthwhile value choice.