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

Oct 7, 2021

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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.

In This Post

$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. 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. Plus, earn 10x on restaurants worldwide and when you “Shop Small” in the U.S., on up to $25,000 in combined purchases, also in the first six months.

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

Featured photo by Isabelle Raphael for The Points Guy.

Delta SkyMiles® Platinum American Express Card

Earn 90,000 bonus miles and 10,000 Medallion® Qualification Miles (MQMs) after you spend $3,000 in purchases on your new card in the first three months of card membership. Offer ends 11/10/2021.

With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.

Apply Now
More Things to Know
  • Limited Time Offer: Earn 90,000 Bonus Miles and 10,000 Medallion® Qualification Miles (MQMs) after you spend $3,000 in purchases on your new Card in your first 3 months. Offer expires 11/10/2021.
  • Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
  • Earn 3X Miles on Delta purchases and purchases made directly with hotels.
  • Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
  • Earn 1X Miles on all other eligible purchases.
  • Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
  • Enjoy your first checked bag free on Delta flights.
  • Fee Credit for Global Entry or TSA Pre✓®.
  • Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
  • No Foreign Transaction Fees.
  • $250 Annual Fee.
  • Terms Apply.
  • See Rates & Fees
Regular APR
15.74%-24.74% Variable
Annual Fee
$250
Balance Transfer Fee
N/A
Recommended Credit
Excellent/Good
Terms and restrictions apply. See rates & fees.

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

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.