American Express Platinum Members Rejoice!

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As a frugal, personal finance junkie who is in a serious pursuit of financial freedom, I want to preface this post by saying: this is not for amateurs. The average american has thousands in debt, little in the ways of savings and barely any control over their personal finances. Therefore, if you are just starting to learn how to do a budget, this is not for you. I am not advocating that you sign up for a card as the new price will now cost you nearly $50/month. Those struggling to make ends meet have more important priorities. But if you have things figured out, have the funds and/or are already a member, this is very good news.

Platinum card holders will now be paying $550 a year, up from $450 (that’s not the good news).  However, with that $100 increase comes $200 in annual Uber credits, as well as 5x the points at select hotels booked through their website. Previously, the 5x points were only available for plane tickets booked directly with the airlines. So now, members have the options of getting 5x the points twice with their travel. Also, for people like myself who hate planes and drive to any location that is a reasonable ride, I always found it unfair that we don’t always get the bonus points because we are reasonable enough to hate getting into a bird-shaped aluminium foil thing 30,000 feet in the air.

As far as we know, they will continue to maintain all their other benefits which include access to airport lounges all around the world, $200 airline credits (baggage, in-flight entertainment, etc.), car rental coverage and more. They are also increasing their sign on bonus but have not yet disclosed how many points they will be giving to new members.

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