American Express Platinum card adds 5x points for airfare on personal / 50% redemption rebate on Biz

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There has all sorts of speculation about a new Amex product to compete against the Chase Sapphire Reserve and (now decimated) Citi Prestige cards.

It hasn’t happened yet, but they are upping their game in one area.

From Oct. 6, 2016, American Express Platinum cardmembers (personal only – it appears not the business version) will earn 5x Membership Rewards points on airfare booked via airlines or the Amex Travel portal.  While perhaps not monuments, those who handle 5 and 6 figure airfare budgets will surely be pleased with this change.

It’s unclear if there are more enhancements to be announced to the Platinum card.

Update: It appears that the Business Platinum card won’t have the 5x on airfare, but WILL allow for redemptions for airfare at 0.5 points per dollar (2% effective cashback) when you redeem any “Pay with Points” ticket with your preferred (in their system) airline via Amex Travel OR any airline in First/Business class. (H/T to Doctor of Credit for this update)

Sidenote: Hat tip to my NYU classmate Charlotte Fuller who is the Amex spokesperson quoted in news articles about the change.