American Express Platinum Card Adds New Benefits (Uber Credits) & Increases Annual Fee to $550

Quick Summary

Earlier today, American Express announced some new changes to their Platinum Card, effective March 30, 2017:

  • Annual fee increases to $550.
  • Uber Credits of up to $200 per year ($15 per month in January through November and $35 in December) + Uber VIP status.
  • Improved Priority Pass benefit, now allowing up to two free guests. (HT: The Points Guy)
  • 5x Membership Rewards Points for prepaid hotels booked through www.amextravel.com.
  • Complimentary Gold Authorized User Cards.

Discussion

The $550 annual fee will be charged at your first annual renewal date on or after September 1, 2017. Thus if you originally opened your card before September, you won’t be charged the higher annual fee until your renewal in 2018.

The Uber credits expire at the end of each month in which they are issued and are only valid within the US, so you need to be a regular Uber rider to be able to take full advantage of this benefit. As for Uber VIP status, I don’t believe it is really worth anything.

Two free guests for Priority Pass lounges is nice, though I already have this benefit from several other cards.

5x points on hotels booked through amextravel.com is not as great as it may seem because booking through a third party website generally means you won’t be eligible for points or stay credits in the hotel’s rewards program. This may not be an issue for smaller, boutique hotels.

Adding free authorized users can be useful for Amex Offers, but that’s about it.

Overall, these changes are good for regular Uber riders and not so much for everyone else.

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