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The Points Guy believes that credit cards can transform lives, helping you leverage everyday spending for cash back or travel experiences that might otherwise be out of reach. That's why we publish a variety of editorial content and card comparisons: to help you find a great card to turn your goals into reality.
Our site may earn compensation when a customer clicks on a link, when an application is approved, or when an account is opened with our partners, and this may impact how or where these products appear. While we don't cover all available credit cards, our editorial team creates and maintains all of the analysis of these cards, and our content is not influenced nor subject to review by any credit card company, bank or partner prior to (or after) publication. Please view our advertising policy and product review methodology for more information.
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Travel's big comeback: Why now is the best time to have an Amex Platinum card
Chris was a reporter at The Points Guy, where he covered the intersection of credit card rewards and travel. At TPG, he wrote a broad array of stories ranging from in-depth features and reports to trending travel news as it related to loyalty, card benefits and consumer behavior.
March 18, 2021 • 7 min read
The cards we feature here are from partners who compensate us when you are approved through our site, and this may impact how or where these products appear. We don't cover all available credit cards, but our analysis, reviews, and opinions are entirely from our editorial team. Terms apply to the offers listed on this page. Please view our advertising policy and product review methodology for more information.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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Quick summary
Travel demand is expected to surge as vaccination rates rise and restrictions ease, making this a key time to revisit premium travel card benefits.
Premium cards now offer a blend of travel-focused perks—such as lounge access, hotel status and annual credits—as well as enhanced everyday benefits.
Recent limited-time offers have included elevated rewards at supermarkets and gas stations, appealing to those spending more at home.
Exclusive airport lounge access and hotel elite status can provide significant value for frequent and returning travelers.
What to consider
Some elevated earning opportunities and statement credits are only available to new cardholders or for a limited period.
Eligibility for certain perks, such as bonus rewards at supermarkets and gas stations, may require meeting specific spend thresholds within the first six months.
Existing cardholders can access targeted offers, but may not qualify for the highest new-member bonuses.
What you'll miss from the article
A detailed breakdown of how to maximize premium card perks and limited-time offers as travel rebounds.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
The travel boom is coming. And now is the time to get ready for it.
One of the preeminent travel cards (and also one of the most premium) is The Platinum Card® from American Express.
However, over the past year, Amex has shifted its flagship card from travel-centric to one focused on everyday spending. But as we transition away from life at home, there now exists a prime opportunity to take advantage of this card's perks — for both the pandemic era as well as the imminent travel revival.
Here's how.
Taking advantage of travel's resurgence ...
Airline executives and industry analysts are bullish about the upcoming resurgence of leisure travel. In fact, over the next several months, U.S. airlines may even be on track to begin making money again.
With President Joe Biden's announcement that all U.S. adults should be eligible to be vaccinated by May, travel will be one of the key industries to kick into high gear.
By 2022, 16 Amex Centurion Lounges will be available across U.S. airports, as well as in London and Hong Kong.
As a Platinum (or Centurion) cardholder, you'll have exclusive access to these premium airport spaces with a wide variety of drinks, quality dining, high-speed Wi-Fi and a mixture of seating for relaxation and work.
You can enjoy status even without needing to meet usual elite requirements such as obtaining a particular number of nights or stays.
Additionally, one of my favorite Platinum benefits is the ability to access elite-like perks when booking hotels through Amex’s Fine Hotels & Resorts program. With travel picking back up, this is one area where new (and existing) cardholders can actually benefit again.
... with a welcome bonus still ideal for everyday spending
(Photo by The Points Guy)
While travel is on the up and up, the Platinum's welcome bonus is ideal for everyday spending. Here's why.
The only permanent Platinum category bonus is travel-related — 5x points on airfare purchased directly with airlines (on up to $500,000 on these purchases per calendar year) or airfare and prepaid hotels through the Amex Travel portal.
However, that's not enough right now.
Besides a generous welcome offer of 75,000 Membership Rewards points for new cardholders after spending $5,000 in your first six months of card membership, the truly unique part of the bonus is a multiplier on non-travel items.
New cardholders can earn 10x points on up to $15,000 in combined purchases at U.S. gas stations and U.S. supermarkets during the same first six months of card membership. That’s an additional nine points on top of the one point you earn for these purchases.
A nine-point bonus earning is worth a whopping 18 cents, according to TPG valuations.
When it comes to staying at or close to home during the pandemic, supermarket and gas purchases are some of the most popular spending categories. The 10x multiplier skyrockets the Platinum Card to the top of our lists of best grocery cards and best gas cards.
Doing the math: 225,000 bonus Membership Rewards points
If you're keeping track at home, between the welcome bonus points and elevated earnings at supermarkets and gas stations in the U.S., there is the potential to earn up to 225,000 Membership Rewards points within the first six months.
$5,000 spent on Amex Platinum within the first 6 months.
75,000 points (welcome bonus)
$1,500
$15,000 spent specifically at U.S. supermarkets and U.S. gas stations within the first 6 months.
150,000 points (10x earnings, on up to $15,000)
$3,000
Those 225,000 points are a staggering number for a welcome offer. However, this assumes that you can spend the full $15,000 at U.S. supermarkets and U.S. gas stations within six months of account opening. Even if you couldn't max out the full $15,000, this is still a lucrative offer from Amex.
Unfortunately, this 10x bonus is only applicable to new cardholders.
One benefit, in particular, is an up-to-$30 monthly PayPal statement credit through June 30, 2021. If you apply and are approved for the card in March, that’s a total of up to $120 in statement credits with PayPal on purchases made at eligible merchants through the middle of 2021. Essentially, any merchant that accepts PayPal online will trigger the credit.
Finally, existing Platinum cardholders aren't left out either. While you won't qualify for the welcome bonus mentioned above, if you're already a cardholder as of Jan. 1, 2021, you can take advantage of exclusive Amex Offers, valued at up to $1,700.
The Amex Platinum already has a ton of useful, premium travel perks and provides up to $500 in various annual credits. Since travel is coming back with a vengeance, now is an ideal window of time to apply — and take advantage of pandemic-related perks as well as the rosy travel outlook.
For rates and fees of the Amex Platinum card, click here.
Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
