July roundup: The latest credit card benefit changes you need to know
Quick summary
Update: Some offers mentioned below are no longer available. View the current offers here.
For over a year, credit card issuers adjusted to a temporary normal where people were traveling less. However, with hopefully the worst of the pandemic behind us, people are hitting the road once again.
While most issuers have returned back to business-as-usual card benefits, a few cards continue to offer limited-time non-travel perks. And one card has been entirely refreshed. Each month, we'll be compiling a list of some of the major card benefit updates that were recently announced to keep you in the know.
Whether you missed the news or want to maximize a perk that's set to expire, let's dive right into what benefit updates we're paying attention to for July — issuer by issuer — for some of the best credit cards on the market today.
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American Express
In early 2021, Amex unveiled an array of updated card benefits for both Membership Rewards-earning cards and cobranded credit cards. These limited-time promotions were all announced as part of changes to keep cardholders engaged during the pandemic.
In July, The Platinum Card® from American Express was heavily revamped, including an increased annual fee from $550 to $695 (see rates and fees).
Top card benefit updates
Here is a card-by-card look at each of the Amex changes.
Card affected: The Platinum Card from American Express
In total, Amex introduced more than $900 in new credits for an annual fee increase of $145 (enrollment is required for select benefits). However, it's clear from the specific nature of several of these credits that most cardholders will not be able to fully utilize all of these perks.
Although Amex is adding new Platinum perks and raising the card's annual fee, they aren't eliminating or changing the card's existing benefits. Here's a snapshot of the benefits.
Related: Amex revamps Platinum Card with new 'lifestyle-focused' benefits, higher annual fee
| New benefit | Annual amount | Notes |
|---|---|---|
| Prepaid hotel booking credit | Up to $200 | Statement credits valid on prepaid bookings at Fine Hotels + Resorts or The Hotel Collection properties made through American Express Travel |
| CLEAR® membership credit | Up to $189 | An annual statement credit for a Clear membership. Enrollment required. |
| Digital entertainment credit | Up to $240 | $20 monthly statement credits and applicable only for Audible, The New York Times, SiriusXM and Peacock. Enrollment required. |
| Equinox credit | Up to $300 | $25 monthly statement credits to select Equinox memberships or a digital subscription to Equinox+ fitness app. Enrollment required. |
On the dining front, Amex is fully integrating Resy as part of a new initiative after acquiring the restaurant reservations platform two years ago.
The Global Dining Access program by Resy gives Platinum cardholders exclusive reservations at some of the world's top restaurants, along with access to premium events.
That access includes prime time tables at many of the most in-demand restaurants across the U.S. and internationally, including Carbone New York, Le Bernardin, Eleven Madison Park, Lilia, The Grey, Osteria Mozza and many more.
Related: Amex Yurt Villages: An incredible dinner at Lilia in New York City
Finally, Platinum cardholders now get up to 40% off the private jet program with Wheels Up. For instance, the initiation fee for the Wheels Up Core membership for Platinum cardholders is $10,500, 40% off the standard initiation fee of $17,500.
Card affected: The Business Platinum Card® from American Express
While the consumer Platinum card saw a significant increase to its annual fee to coincide with new perks, the Business Platinum card's annual fee remained the same at $595 (see rates and fees).
However, Business Platinum cardholders are now eligible for the Clear membership statement credit (enrollment required), the Global Dining Access program by Resy and a discounted Wheels Up private jet membership (listed above).
Cards affected: Select Delta Amex cards
Whether you're dining in or taking out, select cobranded Amex cardholders can earn up to $20 per month in card statement credits at U.S. restaurants through the end of 2021, depending on the type of card. To qualify, you must have been a cardholder as of Jan. 1, and enrollment is required in the Amex Offers section of your account before redeeming.
Delta SkyMiles® Gold American Express Card
- Up to $10 back per month at U.S. restaurants through December.
- $0 annual fee for the first year, then $99 (see rates and fees).
Delta SkyMiles® Platinum American Express Card
- Up to $15 back per month at U.S. restaurants through December.
- $250 annual fee (see rates and fees).
Delta SkyMiles® Reserve American Express Card
- Up to $20 back per month at U.S. restaurants through December.
- $550 annual fee (see rates and fees).
For small-business cardholders, you can earn up to $20 per month in statement credits through December on U.S. wireless telephone services.
According to Amex, for something to qualify under this category, "the purchase must be for monthly wireless telephone service charges and made directly from a wireless telephone service provider in the United States."
Delta SkyMiles® Gold Business American Express Card
- Up to $10 back per month on U.S. wireless services through December.
- $0 introductory annual fee for the first year, then $99 (see rates and fees).
Delta SkyMiles® Platinum Business American Express Card
- Up to $15 back per month on U.S. wireless services through December.
- $250 annual fee (see rates and fees).
Delta SkyMiles® Reserve Business American Express Card
- Up to $20 back per month on U.S. wireless services through December.
- $550 annual fee (see rates and fees).
Bonus points on Delta purchases: Eligible Delta Gold, Platinum and Reserve Amex cardholders can earn 5x miles (that's up to 3x additional miles on top of the miles they already earn) on eligible Delta purchases through Dec. 31.
Status Boost offer: Additionally, as previously reported, in 2021 you'll be able to receive 25% more Medallion Qualification Miles with an elevated Status Boost perk. This will help cardholders reach Medallion status faster — and is open to both current and new card applicants.
Cards affected: Select Hilton Amex cards
Hilton Honors American Express Card
- Up to $5 back per month at U.S. restaurants through December.
- $0 annual fee (see rates and fees).
Hilton Honors American Express Surpass® Card
- Up to $10 back per month at U.S. restaurants through December.
- $95 annual fee (see rates & fees).
Hilton Honors American Express Aspire Card
- Up to $20 back per month at U.S. restaurants through December.
- $450 annual fee (see rates and fees).
The information for the Hilton Aspire card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The Hilton Honors American Express Business Card
- Up to $10 back per month on U.S. wireless services through December.
- $95 annual fee (see rates and fees).
Bonus points earned through eligible purchases through Dec. 31 will be considered base points that count toward elite tier qualification and lifetime Diamond status.
All newly issued free weekend night reward certificates will be valid through Dec. 31, 2022 (and will be valid any night of the week).
Cards affected: Select Marriott Amex cards
Marriott Bonvoy American Express Card
- Up to $10 back per month at U.S. restaurants through December.
- No longer open to new cardholders.
Marriott Bonvoy Brilliant™ American Express® Card
- Up to $20 back per month at U.S. restaurants through December.
- $450 annual fee (see rates and fees).
Marriott Bonvoy Business® American Express® Card
- Up to $15 back per month on U.S. wireless services through December.
- $125 annual fee (see rates and fees).
Card spending offer, up to 75,000 Bonvoy bonus points: You can earn 7,500 additional Marriott Bonvoy points — worth $60 according to TPG valuations — after spending $7,500 on purchases (up to 10 times) through Dec. 31. Note that eligibility for this offer includes the Marriott Bonvoy Brilliant, Marriott Bonvoy Business and select Marriott Bonvoy cardmembers.
Top card bonuses and benefits that are ending
Keep in mind that Amex's monthly and biannual card benefits (such as the up-to-$120 annual dining credit with the American Express Gold Card and the Uber Cash and Saks credit with the Amex Platinum; (enrollment required) do not roll over, so if you don't use them in the month, half-year or year (depending on the exact perk), then its value entirely goes away. Enrollment is required for select benefits. And the Amex Platinum card's $30 monthly PayPal credit ended on June 30.
Related: Here's how to use (and track) your Amex statement credits
Chase
Chase made significant updates last fall for the Chase Sapphire Preferred Card, Chase Sapphire Reserve and many other cobranded travel cards. Additionally, Chase announced that several programs will be extended well into 2021 — including the popular Pay Yourself Back points redemption option (extended until Sept 30, 2021).
Top card benefit updates
Cards affected: Chase Sapphire Preferred and Chase Sapphire Reserve
Peloton credit and bonus category: From now through Dec. 31, Sapphire cardholders will get statement credits that can be used to cover monthly Peloton Digital ($13) and All-Access ($39) memberships. Additionally, you can now earn up to 10x points on select Peloton purchases.
Chase Sapphire Reserve
- Up to $120 in statement credits.
- 10x points on Peloton Bike, Tread and accessory purchases over $1,800, with a maximum earning of 50,000 points.
Chase Sapphire Preferred Card
- Up to $60 in statement credits.
- 5x points on Peloton Bike, Tread and accessory purchases over $1,800, with a maximum earning of 25,000 points.
Travel credit: You can use the Sapphire Reserve's $300 annual travel credit on purchases at grocery stores and gas stations through Dec. 31.
Pay Yourself Back: Cardholders can maximize cash back with Chase's Pay Yourself Back
This feature allows you to redeem each point worth 1.5 cents (on the Sapphire Reserve) or 1.25 cents (on the Sapphire Preferred) toward a statement credit used to offset purchases at grocery stores, home improvement stores and dining establishments. This has been extended through Sept. 30.
Renewal annual fee: Finally, many Chase Sapphire Reserve renewals continue to be processed at $450. This applies to existing cardholders only — new applicants are still subject to the higher $550 annual fee.
Cards affected: Select Chase cobranded airline and hotel cards (targeted)
Up to 9x points on groceries, gas, travel, drugstores or general spending (targeted)
Through Aug. 15, many Chase cobranded travel cards have been targeted to offer bonus earnings in a variety of categories. To check if you've been targeted for any Chase bonuses, enter your card info on this landing page.
Related: Here are all the ways you can earn bonus points with Chase cards right now
Citi
Like Chase and Amex, Citi also announced updates on some of its top travel cards. Here's what you may have missed.
Card affected: Citi Prestige® Card
Citi announced Citi Prestige changes that temporarily expanded the criteria for its $250 travel credit. In 2021, you'll continue to be able to use it at supermarkets and restaurants.
The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Bottom line
Credit card issuers launched value-added perks in the past year, with many limited-time (and longer-term) benefits set to expire in the coming months.
As these individual card program updates and benefits change in the ensuing months, we'll keep tabs on them to make sure you get the most out of the rewards credit cards in your wallet.
However, while this is a list of the major card updates recently announced — and benefits set to expire — this does not encompass all card coverage. To stay up to date on the absolute latest card news, subscribe to TPG's daily newsletter.
For rates and fees of the Amex Platinum, please click here.
For rates and fees of the Amex Business Platinum, please click here.
For rates and fees of the Hilton Aspire card, please click here.
For rates and fees of the Hilton Surpass card, please click here.
For rates and fees of the Hilton Amex card, please click here.
For rates and fees of the Hilton Business Amex card, please click here.
For rates and fees of the Marriott Bonvoy Brilliant card, click here.
For rates and fees of the Marriott Bonvoy Business card, click here.
For rates and fees of the Delta SkyMiles Platinum card, please click here.
For rates and fees of the Delta SkyMiles Platinum Business card, please click here.
For rates and fees of the Delta SkyMiles Gold card, please click here.
For rates and fees of the Delta SkyMiles Gold Business card, please click here.
For rates and fees of the Delta SkyMiles Reserve card, please click here.
For rates and fees of the Delta SkyMiles Reserve Business card, please click here.