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American Express has a huge new offer for The Platinum Card® from American Express. In recent years the main offer has let customers earn 60,000 Membership Rewards points, and there have been targeted offers for more.
Now they have a public offer that may net you as much as 210,000 Membership Rewards points more than you’d normally earn for your spend on the card. It has two components:
- 75,000 bonus points after $5000 spend within 6 months
- 10 points per dollar on the first $15,000 spent at U.S. gas stations and U.S. supermarkets within 6 months of account opening.
You can also check to see if you’re targeted for an even bigger offer using the CardMatch tool.
The first part of the office is – itself – much larger than the public offer we’ve seen over the past couple of years. But the real boost comes from the ability to earn 10 points per dollar on $15,000 of spend in the U.S. gas station and U.S. supermarket categories, for a total of 150,000 more points.
Another way of looking at it is the rebate value on your gas station and supermarket spend (in the U.S.). I value Membership Rewards points at 1.8 cents apiece, so 10 points per dollar is effectively an 18% rebate for your first $15,000 in gas and supermarket spend over six months.
If you take advantage of the offer at its full level, it’s 150,000 points from 10x spend and 75,000 points after $5000 spend within six months, or 225,000 points. Since you’d normally earn 1 point per dollar with the card on that $15,000 in gas and supermarket spend, you should net out 15,000 points from the total ‘initial bonus’ offer and call it ‘up to 210,000 points’.
Benefits Make The Card Worth Keeping
The card is clearly worth getting on the basis of this new offer alone. However I keep my card and consider it worth the $550 annual fee (See rates and fees) based on the $200 annual Uber credit (usable with Uber Eats plus it now comes with Eats Pass); $200 annual airline fee credit (Southwest has been my airline of choice for this); $100 annual Saks credit; and lounge access (Centurion, Delta, Priority Pass, Plaza Premium) and Hilton and Marriott Gold statuses.
My American Express Platinum Card
Best For Spending On Airlines Tickets
I also love earning 5 points per dollar on flights booked directly with airlines (or with American Express Travel). Starting January 1, 2021, this 5x points-earning will be capped at up to $500,000 in these purchases per calendar year. There are literally people who have been using it for more than this, earning millions of points.
Finally, it’s worth noting that you earn 5 points per dollar on prepaid hotels booked at amextravel.com, though that means giving up elite benefits, hotel points, and stay credit on those stays so only makes sense for non-chain hotel bookings in my opinion.
CitiBusiness® / AAdvantage® Platinum Select® Mastercard® Earn 65,000 AAdvantage miles.