AmEx Boosts Sign-Up Bonus, Rewards Stay-at-Home Spending

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As travel remains disrupted by the coronavirus pandemic, a credit card with hefty travel benefits and a $550 annual fee to match might not be attractive. The Platinum Card from American Express becomes competitive, though, with a new sign-up bonus, plus rewards categories for purchases you’re making at home.

Here’s more about this offer for new cardholders that adds value to the flagship travel card.

What Is the Offer?

New cardholders can earn 75,000 bonus points after spending $5,000 in the first six months. Those points are worth about $750 and can be redeemed for gift cards, products, and travel and entertainment options.

This is a $150 bump in value from the previous 60,000-point offer, which new cardholders had three months to earn.

The latest offer also upgrades bonus points on purchases. You’ll earn 10 points per dollar at U.S. gas stations and U.S. supermarkets on up to $15,000 in combined purchases during your first six months as a cardholder.

Of course, a Platinum Card comes packed with other perks, some of which include:

  • Five points per dollar on flights booked directly with the airlines or through the American Express travel portal
  • Five points per dollar on prepaid hotels booked through the AmEx travel portal
  • A $200 annual airline fee credit
  • A $100 hotel credit on qualifying charges when you book with The Hotel Collection of properties in major cities and resorts worldwide
  • Hilton Honors Gold status and Marriott Bonvoy Gold Elite status, plus benefits such as room upgrades, late checkouts, early check-ins and daily breakfasts at more than 1,100 properties worldwide
  • Up to $200 in Uber rides annually
  • Up to $100 in statement credits yearly for Saks Fifth Avenue purchases
  • Up to $20 per month in statement credits for select U.S. streaming subscriptions through Dec. 31, 2020
  • Up to $20 per month in statement credits for wireless phone service from U.S. wireless phone service providers through Dec. 31, 2020

Is the Offer Worthwhile?

With a sign-up bonus worth $750, the AmEx Platinum Card is worth a look if you plan to spend $5,000 on the card in the first six months. The sign-up bonus more than offsets the $550 annual fee, plus you can earn rewards now to redeem later and still come out ahead in value in the first year.

After that, you will need to consider how much value you can get from rewards and benefits.

Comparing Welcome Offers

Before you apply for a Platinum Card, see how its introductory bonus compares with others:

Should You Claim the Offer?

A $150 jump in value for the sign-up bonus isn’t huge, but it is rare from The American Express Platinum Card. The new bonus points for gas and grocery purchases, paired with statement credits for streaming and wireless services, mean this card could offer good value even without travel in the cards.

A different card could be a better choice if you’re not concerned about making the most of your welcome bonus and you don’t think you’ll get enough value from The Platinum Card. Competing travel credit cards have similar introductory bonuses and rewards, but not many come with the bill of premium cardholder benefits that offsets the AmEx Platinum Card’s big annual fee.



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