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More credits incoming: Amex adds SoulCycle and Walmart benefits to Platinum card

Oct. 07, 2021
4 min read
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No matter where you stand on The Platinum Card® from American Express' $695 annual fee (see rates and fees), it's undeniable that this card's benefits can still amount to incredible value.

The Amex Platinum comes with more than $1,400 in annual statement credits. While some are more useful than others, these credits can help justify the card's annual fee — not to mention the other benefits on the card, such as access to Centurion Lounges, complimentary Marriott and Hilton elite status and more, that set it apart. Enrollment is required for select benefits.

American Express has now introduced two more statement credits to the Amex Platinum, one for Walmart+ and another for SoulCycle. Let's take a look at these new credits and how they can be used.

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$155 Walmart+ statement credit

(Photo by BCFC/Shutterstock)

Amex Platinum cardholders can now receive up to a $155 statement credit that covers the cost of a monthly Walmart+ membership when paying with their Amex Platinum. Plus Ups are excluded. This monthly membership costs $12.95 and any local sales tax, so the statement credits should cover all of that.

If you've never heard of Walmart+, here are all of the perks:

  • Free next-day and two-day shipping on items from Walmart.com, with no minimum required. However, this excludes overweight, freight and Marketplace items.
  • Free delivery from your local Walmart store on orders of $35 or more.
  • Get select prescriptions for as little as $0, and save up to 85% at thousands of Walmart pharmacies.
  • Save 5 cents per gallon at Walmart and Murphy gas stations and access member pricing at Sam's Club fuel centers.
  • Scan items with the Walmart app and pay at self-checkout.

The primary benefits of the membership include free shipping and delivery for online orders, groceries and more. While you may not have considered getting Walmart+ before the advent of this credit, the fact that it covers the entire price of the membership alone means there's no additional cost to you for signing up.

Even if you don't live near a physical Walmart location, getting free next-day and two-day shipping on thousands of items on Walmart.com is a pretty great value proposition and could even compete with your Amazon Prime subscription.

Finally, up to $155 in this Walmart+ statement credit helps you offset a sizable chunk of that $695 annual fee.

$300 SoulCycle statement credit

(Photo by Ari Perilstein/Getty Images for American Express)

In addition to the Walmart+ credit, Platinum cardholders can now get an up to $300 statement credit when purchasing one SoulCycle at-home bike — on up to 15 bikes per calendar year. Each bike retails for $2,500 before taxes and fees, and you must purchase the bike in one transaction with your Platinum (meaning you can't finance it and also receive the $300 statement credit).

We can't imagine that this credit will be particularly useful to most cardholders, especially since you'll need to purchase Equinox+ to access SoulCycle content. But remember that the Amex Platinum comes with an (up to) $300 annual Equinox statement credit, broken down into $25 monthly credits. The Equinox+ app costs $40 per month, so you'll have to pay $15 monthly out of pocket. Enrollment is required for select benefits.

Bottom line

Are these credits worth it? Well, it depends on whom you ask.

I don't know anyone that plans to buy 15 SoulCycle bikes this year and the Walmart+/Platinum pairing is admittedly an odd match at first glance for a premium card. However, it can be a useful credit that saves you on shipping and adding more perks isn't a bad thing, especially since the annual fee remains at $695.

Overall, Amex has shifted the Platinum Card beyond the normal travel sphere and into the "lifestyle" realm, so to speak.

More cardholders should find utility out of the Walmart+ credit rather than the SoulCycle credit — with oddly specific terms. Though you may not use every single credit with the Amex Platinum, there should be plenty to mix and match that will ensure that you recoup the $695 annual fee.

Official application link: Amex Platinum with 100,000 points after spending $6,000 in purchases in the first six months of card membership.

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

Featured image by (Photo by Isabelle Raphael for The Points Guy)
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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  • Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.
  • 6x points at hotels participating in the Marriott Bonvoy® program.
  • 4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
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Apply for Marriott Bonvoy Business® American Express® Card
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Terms & restrictions apply. See rates & fees
Best Marriott card for Business Owners
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3 / 5
Go to review

Rewards Rate

6X6x points at hotels participating in the Marriott Bonvoy® program.
4X4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
2X2x points on all other eligible purchases.
  • Intro Offer
    Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.

    Earn 100,000 points
    75,000 points
  • Annual Fee

    $125
  • 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.

    670-850
    Excellent/Good

Why We Chose It

The Marriott Bonvoy Business Amex is a stacked card with a rewards rate that will help you earn bonus points on everyday and business-related purchases. You'll earn 15 elite night credits each calendar year, and receive automatic Gold elite status. Finally, the free night award certificate with a redemption level of 35,000 points or less can get you hundreds of dollars in potential value each year.

Pros

  • 6x points on eligible purchases at hotels participating in the Marriott Bonvoy program
  • 4x points at restaurants worldwide, U.S. gas stations, wireless telephone services purchased directly from U.S. service providers and U.S. shipping
  • 2x points on all other eligible purchases
  • Earn a free-night award each card renewal month (up to 35,000 points)
  • Receive 15 elite night credits to jump-start status
  • Transfer Marriott points to 40+ airlines

Cons

  • Airline points transfer ratios are poor
  • Must spend $60,000 in a year for second free-night award
  • Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.
  • 6x points at hotels participating in the Marriott Bonvoy® program.
  • 4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
  • 2x points on all other eligible purchases.
  • Receive a 7% discount off standard rates for reservations of standard guest rooms at hotels that participate in the Marriott Bonvoy program when you book directly. Terms and Conditions Apply.
  • Receive 1 Free Night Award every year after your Card renewal month. Plus, earn an additional Free Night Award after you spend $60K in purchases on your Card in a calendar year. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. Certain hotels have resort fees.
  • Enjoy Complimentary Marriott Bonvoy Gold Elite Status with your Card.
  • Terms apply.
  • See Rates & Fees