New Amex Platinum welcome bonus offers 75k points, 10x on gas and supermarkets for new cardholders

Nov 12, 2020

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The Platinum Card® from American Express is one of the best premium travel rewards credit cards out there, thanks to a long list of benefits, a strong earning rate for flights and a solid welcome bonus. And for eligible new cardholders, the card is about to become a lot more valuable.

Starting Nov. 12, 2020, Amex offers a 75,000-point welcome bonus after you spend $5,000 in the first six months of account opening. Not only that, but you’ll also earn 10x on eligible purchases made at U.S. gas stations and U.S. supermarkets. This bonus applies to up to $15,000 in combined spending during the first six months of card membership.

TPG values Amex Membership Rewards points at 2 cents each — among the most valuable rewards currencies — which makes the bonus points from this welcome offer worth $1,500. You could redeem these points for one cent each toward flights booked through the Amex Travel portal. However, TPG places a higher value on these points if you transfer them to a selection of transfer partners — including Avianca, Hilton, Etihad and Singapore Airlines — and the various redemptions they offer.

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(Photo by Wyatt Smith/The Points Guy)
(Photo by Wyatt Smith/The Points Guy)

Amex Platinum benefits overview

The Amex Platinum has a $550 annual fee (see rates and fees), leading to some sticker shock. But when you dive into its mile-long list of benefits, it’s easy to see how you can recoup that value:

That’s perhaps the most exhaustive list of perks available among premium travel rewards credit cards. So, if you can put many of these to use, the Amex Platinum could be worth a place in your wallet.

Related: Amex Platinum Card review

Is this offer worth it?

Previously, the Amex Platinum’s public offer was 60,000 Membership Rewards points after spending $5,000 in the first three months. So this new welcome offer is certainly an improvement. Not only are you getting an additional 15,000 points, but Amex is giving you an additional three months to hit the same spending threshold. And the ability to earn 10x on eligible gas and supermarket purchases is fantastic (a 20% return according to TPG valuations).

(Photo by d3sign/Getty Images)

One of the primary drawbacks to the Amex Platinum, especially in a year when travel has been put on hold by most cardholders, is that you only earn bonus points on select travel expenses. The addition of two everyday spending bonus categories is a major draw to the card for those who were hesitant about applying while not traveling, even if those categories are temporary.

Keep in mind that you could be targeted for an even bigger welcome bonus through the CardMatch tool. Right now, some new cardholders are being targeted for either a 100k or 125k-point welcome offer after spending $5,000 in the first three months. Those who apply through CardMatch for those elevated offers will still earn 10x at U.S. gas stations and U.S. supermarkets on up to $15,000 in combined spending within the first six months, so it’s certainly worth checking to see if you are eligible. Just keep in mind that you’re not guaranteed to get the 100k or 125k offers via CardMatch, but it’s certainly worth a try.

Bottom line

The Amex Platinum is one of the best travel credit cards on the market. While you may not be jet setting across the globe right now, applying for the card now could help pay for upgraded experiences on your trips down the road. And since Amex only allows you to earn one welcome bonus per lifetime on each card, it’s imperative to pick when you apply for each Amex card wisely.

Especially if you are targeted for the 125k CardMatch offer, now is an excellent time to apply for the card to rake in a large bonus while earning on some everyday spending categories that normally don’t earn bonus rewards with the card.

Official application link: The Platinum Card® from American Express with a 75,000-point bonus, or check out the CardMatch tool to see if you are targeted for up to 125,000 points. 

Additional reporting by Katie Genter.

Featured image by Wyatt Smith/The Points Guy.

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

The Platinum Card® from American Express

WELCOME OFFER: 75,000 Points Terms Apply.

TPG'S BONUS VALUATION*: $1,500

CARD HIGHLIGHTS: Delta Sky Club and Centurion lounge access, up to $200 annual airline fee credit and up to $200 in Uber credits annually

*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.

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More Things to Know
  • Earn 75,000 Membership Rewards® Points after you spend $5,000 on purchases on your new Card in your first 6 months of Card Membership.
  • Earn 10x points on eligible purchases on your new Card at U.S. Gas Stations and U.S. Supermarkets, on up to $15,000 in combined purchases, during your first 6 months of Card Membership. That’s an additional 9 points on top of the 1 point you earn for these purchases.
  • Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member and Additional Centurion Cards only.
  • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel. Starting January 1, 2021, earn 5X points on up to $500,000 on these purchases per calendar year.
  • 5X Membership Rewards® Points on prepaid hotels booked on amextravel.com.
  • Enjoy complimentary access to the Global Lounge Collection, the only credit card airport lounge access program that includes proprietary lounge locations around the world.
  • Receive complimentary benefits through American Express Travel with an average total value of $550 with Fine Hotels & Resorts® program at over 1,100 properties. Learn More.
  • Get up to $100 in statement credits annually for purchases at Saks Fifth Avenue on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
  • $550 annual fee.
  • Terms Apply.
  • See Rates & Fees
Regular APR
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Annual Fee
$550
Recommended Credit
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Terms and restrictions apply. See rates & fees.

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