Here's the new American Express Platinum is a uniquely designed card, increases the fee and has FEAR benefits. But unfortunately it is the US one.
When it comes to American Express Platinum, one point must be made clear right away: the American version has nothing to [...]
When it comes to American Express Platinum, one point must be made clear right away: the American version has nothing to do with the Italian version, except in the name. Overseas, in fact, Amex's flagship card is enriched with new benefits every year, and today it comes with a completely new design and an even richer benefits package.
In this article:
In the last 48h I have been inundated with messages with tones some enthusiastic and some worried. On one side were those who read the fee increase as unbearable and on the other side were those who were enthusiastic about the new benefits: stop everyone, it will not come to Italy.
A mirror card
The most obvious change is aesthetic: the new American Platinum has a glossy mirror design, so much so that you can literally think about it. A choice that reinforces the premium positioning of the product and clearly distinguishes it from previous versions.
And for those who are wondering if we will at least see this design overseas, I think not, as we have not seen gl other artistic designs that American owners have available to them today.
The fee: nearly $900 per year
The real "sore point" is the increase in the annual fee, which rises to 895 dollars for both Consumer and Business Platinum. A significant cost, however, justified by a benefits package that on paper exceeds the $3,500 potential value.
Benefits of U.S. Consumer Platinum
Some of the most interesting new benefits for holders of the Consumer version include:
- $600 by Hotel Credit for reservations through Amex Travel (Fine Hotels + Resorts® and Hotel Collection).
- $400 by Resy Credit for catering, expendable at 10,000 partner restaurants in the United States.
- $300 from Digital Entertainment Credit with the addition of new partners such as YouTube Premium and Paramount+.
- $300 lululemon Credit For online or in-store purchases.
- $120 Uber One Membership Credit which is in addition to the $200 Uber Cash already provided.
- $200 Ōura Credit To purchase the Oura Ring smart ring.
- Premium Hotel Status With The Leading Hotels of the World.
Added to these are already established benefits such as:
- $200 Airline Fee Credit
- $100 Saks Fifth Avenue Credit.
- $300 Equinox Credit
- Walmart+ Membership
- $209 CLEAR+ Credit
- 5X Membership Rewards points on flights and hotels booked via Amex Travel
The benefits of corporate cards have also changed, but let's just say that just seeing this list is enough to make you nervous, so better not to rub it in.
Lounge access and premium status
Both versions continue to provide access to over 1,550 airport lounges worldwide, including 30 Centurion Lounges, as well as automatic statuses with hotel chains and exclusive travel benefits.
However, there are aspects where the Italian card is better: for example, Americans in order to bring a guest into the Centurions must spend, every year, at least 75k $ with the card, otherwise you pay.
And but in Italy instead...
Here comes the substantial difference. In Italy, Platinum remains a prestigious card, but the offerings are nothing like the wealth of U.S. benefits. The reason is simple: In the United States, the credit card system is structurally different.
- Cards are really credit instruments, used by more than 300 million consumers, each with on average a dozen cards in the wallet.
- There are no legal limits on interchange fees: every time the card is swiped (or used digitally), U.S. banks collect much higher fees than in Europe.
- This extra margin makes it possible to fund generous benefits, significant cash back and hyper-competitive loyalty programs.
In Italy, on the other hand, the fees are regulated and much lower, but most importantly, we do not go into debt since we all (or almost all) do not use any kind of revolving and every month we balance our card account and this drastically reduces the room for maneuver to offer such rich benefits.
Conclusion
The new American Express Platinum USA raises the bar even higher: the mirrored design is an aesthetic treat, while new benefits expand the already wide range of annual credits. The increase in the annual fee to nearly $900 does not go unnoticed, but for those who take full advantage of the benefits offered, the card continues to be a very high-end product and with a potentially very favorable cost-benefit ratio.
