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- The Platinum Card® from American Express has two new statement credits that can save you money.
- Cardmembers can get reimbursed for the monthly cost of a Walmart+ subscription, which offers free shipping and delivery.
- You can also get up to $300 back for purchasing a SoulCycle at-home bike through Equinox+.
- See Insider's guide to the best rewards credit cards.
The Platinum Card® from American Express is one of the best travel rewards cards out there. With a $695 annual fee, it's definitely for more advanced award travel enthusiasts, but if you can take advantage of its airport lounge access and statement credits for Uber, Saks, and more, you can get hundreds of dollars in value each year.
Amex just added even more statement credits to the card. Now, cardholders can get up to $12.95 back each month to cover the cost of a Walmart+ membership, plus a $300 annual statement credit after purchasing a SoulCycle at-home bike. Keep reading to see how these new benefits work.
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100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership, plus 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership
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- Long list of travel benefits, including airport lounge access and complimentary elite status with Hilton and Marriott (enrollment required)
- Annual statement credits with Saks and Uber
- Bonus categories leave something to be desired
- One of the highest annual fees among premium travel cards
- Earn 100,000 Membership Rewards® Points after you spend $6,000 on purchases on the Card in your first 6 months of Card Membership.
- Plus, earn 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of Card Membership.
- 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.
- $200 Hotel Credit: Get $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings with American Express Travel when you pay with your Platinum Card®.
- $240 Digital Entertainment Credit: Get up to $20 in statement credits each month when you pay for eligible purchases with the Platinum Card® at your choice of one or more of the following providers: Peacock, Audible, 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.
- American Express has expanded The Centurion® Network to include 40+ Centurion Lounge and Studio locations worldwide. Now 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 select Equinox memberships when you pay with your Platinum Card®. Enrollment required.
- $179 CLEAR® Credit: Use your Card and get up to $179 back per year on your CLEAR® membership.
- $695 annual fee.
- Terms Apply.
Get reimbursed for a Walmart+ membership
The first new statement credit on the Platinum Card is for Walmart's subscription service, Walmart+. The service gets you free delivery from Walmart stores, free shipping without an order minimum, pharmacy discounts, and more.
Walmart+ costs $12.95 per month, and if you pay with the Platinum Card the full amount will be reimbursed as a statement credit. This is a nice change of pace from some of the card's other statement credits, like the monthly Uber credit, which don't necessarily cover the full cost of your purchase. If you shop at Walmart, taking advantage of this new benefit is a no-brainer.
$300 statement credit for purchasing a SoulCycle at-home bike
Amex is expanding its wellness benefits — and its partnership with Equinox — with the second new statement credit. The Platinum Card already offers up to $300 in statement credits per year (divided into credits of up to $25 per month) to reimburse you for Equinox memberships**, including both in-person Equinox gym memberships and a subscription to the Equinox+ mobile app.
Now, the card also offers an annual statement credit of $300 if you purchase a SoulCycle at-home bike through your Equinox+ membership. This won't cover the whole cost of the bike by far; it goes for $2,500, but if you're already considering getting a stationary exercise bike, this new benefit could come in handy.
Interestingly, Amex says you can use this $300 statement credit up to 15 times in a calendar year. So if you're loading up on SoulCycle bikes for the whole (extended) family, this new benefit's for you.
Keep in mind you need an Equinox+ membership to be eligible for this benefit, and you must charge the full price of the bike to your card in one transaction.
Other reasons to consider the Amex Platinum
Whether or not the new Walmart+ and SoulCycle bike statement credits are useful to you, the Platinum Card could be worth a look if you love to travel and you value high-end benefits like airport lounge access, elite status with Hilton and Marriott, and the ability to get late checkout and on-property credits at hotels through Amex Fine Hotels Resorts.
Apart from that, the Platinum Card is offering a welcome bonus of 100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership, plus 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership.
You can redeem Amex Membership Rewards points for travel with airline and hotel partners including Delta, Hawaiian Airlines, and Marriott, and the points never expire.
Sarah Silbert is the Senior Reviews Editor at Personal Finance Insider. She oversees the vertical's guides and reviews, covering topics including banking, credit cards, insurance, investing, and mortgages. Her goal is to empower readers to make smart, informed financial decisions. She is also a Certified Educator in Personal Finance (CEPF). You can reach Sarah at [email protected] Learn more about how Personal Finance Insider chooses, rates, and covers financial products and services »
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For rates and fees of The Platinum Card® from American Express, please click here.
For rates and fees of The Platinum Card® from American Express, please click here.
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