amex platinum benefit changes

The benefits page for the The Platinum Card® from American Express is now live so we can confirm what has been added in more detail that we knew before.

For example, we knew about the Equinox credit, but not that it would be $25 a month (which honestly is a drop in the bucket for an Equinox membership that runs over $200 a month…).

New Amex Platinum Bonus Offer

$695. Yes, $695.

New Amex Platinum Welcome Bonus Offer

Earn 100,000 Membership Rewards Points when you spend $6,000 in your first 6 months plus earn 10x points restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases in your first 6 months. Terms apply. (Rates and Fees)

Is it possible that CardMatch might have a better offer? Seems worth checking.

Also, Resy is offering a higher bonus of 125,000 points + 15X on restaurants and Shop Small, per Doctor of Credit.

Another also: There are refer-a-friend offer with the referrer being given a whopping 45,000 points and the new cardmember getting 125k + 10x on dining and Shop Small.

If you have a P2, the referral is probably the best way to go, else the Resy offer is the move.

New Amex Platinum Benefits

  • New: $240 Digital Entertainment Credit (Enrollment Required)

Get up to $20 back each month on select digital subscriptions when you pay with your Platinum Card®.‡

Enroll and get up to $20 in statement credits each month when you use your Platinum Card® to subscribe to your choice of one or more of the following: Peacock, Audible, SiriusXM, and The New York Times. This can be an annual savings of up to $240.‡

  • New: $200 Hotel Credit
Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.‡
  • New: $179 CLEAR Credit Enrollment Required
CLEAR® uses biometrics to assign you a touchless ID, allowing you to move faster through security at select airports and stadiums across the U.S. You can cover the cost of a CLEAR membership with up to $179 in statement credits per year after you pay for CLEAR with your Platinum Card®.‡
  • New: $300 Equinox Credit (Enrollment required)

Get a $25 statement credit each month at Equinox. Simply use your Platinum Card to pay for monthly Equinox All Access, Destination, or E by Equinox membership fees, or for Equinox+.‡

The $200 airline incidental credit that many thought was being replaced by the $200 hotel credit is still there, so at least that’s a small win.
My overall thought is simply this: The Amex Platinum has become a glorified coupon book. Yes, you can definitely exceed your annual fee in credits. The airline + hotel credits alone get you back $400 of the $695. But do you want to jump through so many hoops?
Activate this, use that monthly. It’s all a bit much. I wish they would just increase the earn rate to make this card half as good as the Amex Gold Card.
I know others will disagree.

Thoughts?

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