Right Now: One of the Best Times Ever to Get a Platinum Card

If you’ve been kicking the tires on a Platinum card and wondering when you should take the leap, let me help you make the decision:

Right now.

Like, today.

Following its big refresh, now is the time to add The Platinum Card® from American Express to your travel card arsenal. (If you want to cut to the chase, learn here how to apply for the Amex Platinum Card.)

Here’s why.

(Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.) We may earn a commission if you apply through our links and are approved. Regardless of where or how you apply, we just want you to know that now is the time to do so!

Statement Credits, Statement Credits, Statement Credits — To Use Soon

Everyone knows the  Amex Platinum Card is packed with statement credit opportunities. (I want to say it was Frequent Miler who first compared it to the Entertainment Coupon Book.)

The Amex Platinum has been loaded with statement credits for a while. But the recent changes added more — and they’re actually practical for some members.

There are tons of yearly, monthly, and quarterly credits members can use.

As of this post date, there are several days left in Q3. If you’re approved within the next couple of days, you can potentially use the quarterly credits ASAP and reap nearly an extra $200 in “statement credit” as opposed to waiting even just a week or later. Amex is very good about giving instantly approved members a digital card number, expiration date, and four-digit CVV. This way, you can shop online immediately and add the card to your digital wallet.

Here are the stataement credits you could use during the next few days if you’re approved now:

• lululemon (Up to $75): Earn up to $75 in statement credit each calendar quarter for eligible purchases in-store at lululemon and lululemon.com.
  • With a digital card number, you can shop online immediately.
  • Remember to use Rakuten or TopCashback to start your purchase and earn some cashback or points.
  • Enrollment required. Do that right after you get your digital card number.
• Resy (Up to $100): Earn up to $100 in statement credit each calendar quarter for eligible purchases made at participating Resy restaurants.
  • This benefit is so hit-or-miss. Two restaurants within a 10-minute drive of my house particpating in Resy. Some people don’t have a Resy restaurant within 10 hours of their house. (Maybe a slight exaggeration but you get the point.)
  • Data points suggest paying electronically with your eligible Amex card should trigger the statement credit. Beware, though, of Square or Toast. Payments made using them are likely considered third-party and won’t trigger the credit.
  • Ask the restaurant ahead of time if they accept digital payments.
  • Again, enrollment is required. Do that immediately.
• Uber Cash Deposit ($15): Amex Platinum members enjoy Uber VIP status and earn up to $200 in Uber savings on rides or Uber Eats orders in the US annually. (Receive $15 in Uber Cash each month, plus a bonus $20 in December.)
  • Add the Amex Platinum Card number to your Uber app immediately.
  • Remember that the cash deposits in your Uber account are valid toward rides or Uber Eats purchases (hello, delivery during football this weekend!)
  • Uber Cash and Uber VIP status is available to the primary cardholder only. An Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit. (Enrollment is required. Terms apply. Uber Cash deposits are made monthly and expire if not used. To receive this benefit, you must have downloaded the latest version of the Uber App and your eligible Amex Platinum Card must be a method of payment in your Uber account. The Amex Benefit may only be used in the United States.)

Remember that those three credit reset on October 1!

More Credits to Use Before December 31

You can take advantage of several other credit opportunties — that expire on December 31. So, waiting until next year might not be the most produent decision if you really want to maximize the card’s value.

• Up to $200 Airline Fee Statement Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your card. (Enrollment is required.) Read this post for more information.
• Up to $300 Hotel Statement Credit: Earn up to $600 back in statement credits each year ($300 from January through June, then $300 from July through December) on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel® when you pay with your Platinum Card®. (Terms apply. The Hotel Collection requires a minimum two-night stay.)
  • You should be able to reserve a stay for next year and still receive the credit for this year if you prepay before December 31.
• Up to $50 Saks Statement Credit: Earn up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®.
  • $50 from January through June, then $50 from July through December)
  • Remember to start your online Saks shopping sessions through a shopping portal such as Rakuten. (Enrollment is required and terms apply.)
• Up to $200 Oura Ring Statement Credit: Earn up to $200 in statement credits each calendar year on eligible purchases (think Oura Rings) made at ouraring.com charged to the Card Account.

So, there’s another potential up to $750 in statement credits to earn during the next three months.

“Ongoing” Credits

The Amex Platinum Card has a few other statement credits that are available, monthly, yearly, or even every few years. When they turn over is dependent on when you first use them.

• Up to $300 Digital Entertainment Statement Credit (increased from $240!): Earn up to $25 back in statement credits each month on eligible purchases made with one or more of the following:
  • YouTube TV
  • YouTube Premium
  • Paramount Plus
  • Disney+
  • a Disney+ Bundle
  • ESPN+
  • Hulu
  • The New York Times
  • Peacock
  • The Wall Street Journal
  • Enrollment is required and terms apply.

• Up to $155 Walmart+ Statement Credit: Earn back the cost of a $12.95 monthly Walmart+ membership (subject to auto-renewal) plus applicable local sales tax with a statement credit after you pay for Walmart+ each month with your card.
• Up to $209 CLEAR® Plus Statement Credit: Earn up to $209 in statement credits each calendar year for CLEAR Plus membership costs charged to your card. (Enrollment required. Taxes and fees not eligible. Terms apply)
• Up to $120 Global Entry or TSA PreCheck®Credit: Receive either a $120 statement credit every four (4) years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee charged to your Platinum Card.
• Up to $120 in Uber One Statement Credit: Earn up to $120 in statement credit when you use your Amex Platinum Card to pay for an auto-renewing Uber One annual membership each membership year. (Enrollment required. Terms apply.)

Welcome Offer and Annual Fee

New applicants can as high as 175,000 Membership Rewards® Points after spending $8,000 on eligible purchases on the card within the first six (6) months of being approved for card membership. (Welcome offers vary and you may not be eligible for an offer. Terms apply.) Read more and learn here how to apply.

The card’s annual fee is $895 (Rates & Fees) That’s certainly a hefty sum for most of us. But, again, if you take advantage of the statement credits, it’s super easy to earn it back.

Final Approach

Because of the soon-to-turn-over quarterly and monthly statement credits now is ta great time to become an Amex Platinum member.

For rates and fees of The Platinum Card® from American Express, please visit this link.