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Watch the Olympics with in-depth coverage with your new Amex Platinum credit

July 27, 2021
4 min read
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It's an understatement to say a lot has changed in the past year. Even our favorite rewards cards have adjusted to consumers' shift from travel to lifestyle spend. Namely, The Platinum Card® from American Express has recently undergone a massive revamp, adding four new annual statement credits in exchange for a higher $695 annual fee (see rates and fees).

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While we're all eager to put 2020 to rest, the Tokyo Olympics are finally here -- a full year later than initially anticipated. And if you're a cardholder of the Amex Platinum, your new digital entertainment credit unlocks the ability for you to watch the Olympics -- for free. With just 12 days left in this year's games, let's dive into the details.

What is the Amex Platinum digital entertainment credit?

While some may gawk at the $695 annual fee, you'll be able to minimize the sticker shock by maximizing the long list of statement credits that come with the card, including both travel and lifestyle benefits.

Related: Amex revamps Platinum Card with new ‘lifestyle-focused’ benefits, higher annual fee and big welcome bonus

One of the newer additions is the up to $240 annual digital entertainment statement credit, distributed in $20 monthly increments each calendar year. At first glance, this credit sounds broad -- you would think that popular services such as Netflix or Spotify would qualify. Unfortunately, this isn't the case, and the digital entertainment credit only applies to the following four services:

  • Audible
  • SiriusXM
  • Peacock
  • The New York Times

You'll have to activate this credit on your Amex account first, but then you're free to mix and match these monthly services as you please. For example, you could subscribe to Peacock Premium ($4.99), Audible Plus ($7.95) and NY Times Cooking ($5) and still have some change left over.

How can I watch in-depth coverage of the Olympics?

Peacock is relatively new in the streaming services world and is part of the NBC Universal network. As NBC is broadcasting the Olympics, you'll be able to access live Olympics content, replays, highlights and so much more as a Peacock subscriber. This is enticing if you weren't particularly convinced to subscribe to any of the eligible digital entertainment providers -- well, now you have a reason to.

Let's review the levels of Peacock membership:

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LevelCostWhat's includedAds?
PeacockFree
  • Movies and TV shows
  • Peacock-exclusive channels
  • Daily news, sports and pop culture
  • Kids shows and movies
  • Spanish language series
Yes
Peacock Premium$4.99/monthEverything in Peacock, and...

  • Live sports, including Premier League
  • Live events, including WWE
  • Peacock original series
  • Next-day access to current NBC hits
  • Broader access to megahit movie and TV shows
  • Full access to kid shows and movies
Yes
Peacock Premium Plus$9.99/monthEverything in Peacock Premium, and...

  • No ads
  • Offload select movies on mobile devices
No

With Peacock Premium or Peacock Premium Plus, you'll get access to live sports -- including the Olympics. Peacock Premium subscribers will also get access to exclusive Olympics programming, studio shows, curated playlists, highlights and full event replays. Whether you're a gymnastics or volleyball fan, you can watch this year's games and get in-depth coverage on your web browser, smart TV or another eligible device.

After activating the digital entertainment credit in the "Benefits" section of your account, all you'll have to do is purchase either monthly subscription on Peacock's website with your Amex Platinum. You'll receive reimbursement to your statement same day, wiping out all eligible charges under $20 each month.

Bottom line

Many Amex Platinum cardholders were disgruntled at these new statement credits, as they initially don't seem user-friendly with specific terms and conditions to abide by. But the Olympics is pretty special -- and you'll get to watch for thanks to this new digital entertainment credit.

Official application link: The Platinum Card from American Express with a 80,000-point welcome offer after spending $6,000 on purchases within the first six months of card membership.

Check the CardMatch tool to see if you’re targeted for a 125,000 or 150,000-point Platinum card offer (after meeting minimum spending requirements). These offers are subject to change at any time.

For rates and fees of the Amex Platinum, click here.

Featured image by Getty Images
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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TPG featured card

Best premium travel card for value
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards

1 - 10X points
10xEarn 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards®.
5xEarn 5x total points on flights through Chase Ultimate Rewards®.
3xEarn 3x points on other travel and dining.
1xEarn 1 point per $1 spent on all other purchases

Intro offer

80,000 bonus points
Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®

Annual Fee

$550

Recommended Credit

740-850
Excellent
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

If you are looking to take your premium rewards to the highest level, this card is really a no brainer in our eyes. Chase's Ultimate Rewards make points easy to redeem, with a wide range of 10 airline and three hotel transfer partners and a friendly user interface. Despite the high annual fee, Chase is consistently adding new benefits to keep the card competitive in a fierce premium rewards field.

Pros

  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Ultimate Rewards hotel and airline travel partners
  • Unlimited 3x points on the broad category of travel and dining
  • 50% more value when you redeem your points for travel through Chase Ultimate Rewards®
  • Broad definitions for travel and dining bonus categories

Cons

  • Steep $550 annual fee
  • May not make sense for people that don't travel frequently
  • You must spend the $300 travel credit before earning 3x points for travel and dining
  • No automatic hotel elite status
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,200 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more
Best premium travel card for value
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
4 / 5
Go to review

Rewards Rate

10xEarn 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards®.
5xEarn 5x total points on flights through Chase Ultimate Rewards®.
3xEarn 3x points on other travel and dining.
1xEarn 1 point per $1 spent on all other purchases
  • Intro Offer
    Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®

    80,000 bonus points
  • Annual Fee

    $550
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    740-850
    Excellent

Why We Chose It

If you are looking to take your premium rewards to the highest level, this card is really a no brainer in our eyes. Chase's Ultimate Rewards make points easy to redeem, with a wide range of 10 airline and three hotel transfer partners and a friendly user interface. Despite the high annual fee, Chase is consistently adding new benefits to keep the card competitive in a fierce premium rewards field.

Pros

  • $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year
  • Access to Chase Ultimate Rewards hotel and airline travel partners
  • Unlimited 3x points on the broad category of travel and dining
  • 50% more value when you redeem your points for travel through Chase Ultimate Rewards®
  • Broad definitions for travel and dining bonus categories

Cons

  • Steep $550 annual fee
  • May not make sense for people that don't travel frequently
  • You must spend the $300 travel credit before earning 3x points for travel and dining
  • No automatic hotel elite status
  • Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,200 toward travel when you redeem through Chase Ultimate Rewards®
  • $300 Annual Travel Credit as reimbursement for travel purchases charged to your card each account anniversary year.
  • Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Ultimate Rewards® immediately after the first $300 is spent on travel purchases annually. Earn 3x points on other travel and dining & 1 point per $1 spent on all other purchases
  • Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,200 toward travel
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Access to 1,300+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™ Select and up to $100 application fee credit every four years for Global Entry, NEXUS, or TSA PreCheck®
  • Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more