Amex Platinum drops 10x bonus, retains 100,000-point welcome offer

Jan 20, 2022

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Editor’s note: This is a recurring post, regularly updated with new information including the latest Amex Platinum offer. 


The Platinum Card® from American Express has long been one of the best premium travel rewards cards out there, thanks to a long list of benefits, a strong earning rate on flight purchases and a solid welcome bonus.

With a wholesale revamp last year, the card now has even more perks (albeit at a higher cost). Currently, the Amex Platinum Card is offering a generous 100,000-point welcome offer after you spend $6,000 on purchases in the first six months of card membership.

While the previous offer included 10 points per dollar on “Shop Small” purchases in the U.S. and at restaurants worldwide, American Express has confirmed with TPG that this unique welcome offer feature of 10 points per dollar bonus on certain categories has abruptly ended today (Jan. 20, 2022).

Still, the 100,000- point welcome offer is worth a generous $2,000, according to TPG’s valuations.

Official application link: The Platinum Card from American Express

Note that you could potentially be targeted for a 125,000-point or 150,000-point welcome bonus by using the CardMatch Tool. These offers are subject to change at any time.

In addition to an elevated welcome bonus, this Amex card has added a slew of enticing benefits, from up to $300 in annual Equinox statement credits and an annual statement credit of up to $189 for your Clear membership. Enrollment is required for select benefits.

Unfortunately, along with these recent improvements came a hike to the card’s annual fee, which is now $695 (see rates and fees) — one of the highest annual fees for consumer cards out there.

Let’s review this latest Amex Platinum offer and analyze if it’s worth applying for.

(Photo by Ryan Patterson for The Points Guy)

Amex Platinum benefits overview

The Amex Platinum now has a $695 annual fee, which may trigger some sticker shock. But when you dive into its mile-long list of benefits, there’s the potential to recoup that value:

*Enrollment required for select benefits.
**Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details.

That’s one of the most exhaustive lists of perks available among premium travel rewards cards. From the annual credits alone, you’re looking at more than $1,800 in value. So, if you can put many of these to use, the Amex Platinum could be worth a place in your wallet — even with that $695 annual fee.

Related: Amex Platinum Card review

Is this offer worth it?

In early 2021, the Amex Platinum’s public offer was 75,000 Membership Rewards points after you spent $5,000 in the first six months. So, compared to that, the current welcome offer is an improvement.

However, for much of 2021 and into early this year, the bonus also included the incentive to dine at restaurants worldwide and to “Shop Small” in the U.S. That’s no longer available.

People Dining at a Restaurant
(Photo by VGstockstudio/Shutterstock)

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 a 125,000- or 150,000-point welcome offer (offer subject to change at anytime).

Offer retrieved on Jan. 20, 2022

Bottom line

The Amex Platinum is one of the best travel cards on the market. As travel ramps back up, 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 choose wisely when to apply.

Especially if you are targeted for the 125,000- or 150,000-point CardMatch offer, now is an excellent time to apply for the card to rake in a large bonus while earning on common everyday spending categories that generally don’t earn bonus rewards with the card.

Official application link: The Platinum Card® from American Express with a 100,000-point bonus, or check out the CardMatch tool to see if you are targeted for a bonus of up to 150,000 points. 

Additional reporting by Madison Blancaflor, Stella Shon, Katie Genter and Eric Rosen.

Featured photo by Ryan Patterson for The Points Guy.

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

The Platinum Card® from American Express

WELCOME OFFER: 100,000 Points Terms Apply.

TPG'S BONUS VALUATION*: $2,000

CARD HIGHLIGHTS: Delta Sky Club and Centurion lounge access, up to $200 annual airline fee credit and up to $200 in Uber Cash annually (only for use in the U.S.)  (Enrollment required for select benefits)

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

Apply Now
More Things to Know
  • Earn 100,000 Membership Rewards® points after you spend $6,000 on purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
  • Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
  • Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings, which requires a minimum two-night stay, through American Express Travel when you pay with your Platinum Card®. And if you fly, you can receive up to $200 in statement credits per calendar year after you select a qualifying airline and incidental fees are charged by the airline to your Platinum Card®.
  • $240 Digital Entertainment Credit: Get up to $20 back each month on eligible purchases made with your Platinum Card® on one or more of the following: Audible, Disney+, The Disney Bundle, ESPN+, Hulu, Peacock, SiriusXM, and The New York Times. Enrollment required.
  • $155 Walmart+ Credit: Cover the cost of a $12.95 monthly Walmart+ membership with a statement credit after you pay for Walmart+ each month with your Platinum Card. Cost includes $12.95 plus applicable local sales tax. Plus Ups are excluded.
  • American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. There are even more places your Platinum Card® can get you complimentary entry and exclusive perks.
  • $200 Airline Fee Credit: Get up to $200 in statement credits per calendar year in baggage fees and more at one select qualifying airline.
  • $200 Uber Cash: 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 only.
  • $300 Equinox Credit: Get up to $25 back each month on the Equinox+ digital fitness app, or eligible Equinox club memberships when you pay with your Platinum Card®. Enrollment required.
  • $189 CLEAR® Credit: Use your Card and get up to $189 back per year on your CLEAR® membership. CLEAR® is available at select airports and stadiums.
  • $695 annual fee.
  • Terms Apply.
  • See Rates & Fees
Regular APR
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Annual Fee
$695
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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.

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