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And changes are here to one of the program’s credit cards.
American Express has made some exciting changes to the
American Express Platinum credit card changes
The card basically got a complete makeover.
First, the earn rates. These used to be the earn rates for the card:
- 1 mile per $10 spent at gas, groceries, drugstores and AIR MILE Sponsors, and
- 1 mile per $15 everywhere else.
Here’s what the card will earn you for miles today:
- 1 mile per $5 spent on restaurants, grocery stores, gas and transit purchases, up to $30,000 annually, and
- 1 mile per $10 spent everywhere else.
That’s a vast improvement over the old earn rates. In fact, earning 1 mile for $5 spent on food and gas is the best earn rate on basic essentials of any AIR MILES card.
To boot, it also got an increased welcome bonus. For a limited time, until January 20, 2020 you can earn up to 3,500 miles when you get approved for the card.
- 1,700 bonus miles after spending a total of $1,500 in the first 3 months,
- 150 bonus miles every month you spend $500 in the first 6 months, and
- Another 150 bonus miles every month you spend $1,000 in the first 6 months.
It doesn’t end there.
Every year you have the card, you’re eligible for the new Annual Travel Redemption Benefit. Once per year, book a flight using your miles, and get 25% of the miles used back (up to a maximum of 750 miles).
We value a single AIR MILE at 17.2 cents each when redeemed for flights. This benefit alone is worth up to $129, enough to cover the annual fee.
These are some exciting changes and have put it in the running for the best AIR MILES card.
It’s not all sunshine and rainbows, of course.
The annual fee for the card has increased to $120, from $65. However, the increase of $55 is more than offset by new earn rates and the Travel Redemption Benefit.
What do you think of these changes?
Let us know in the comments below.