The Platinum Card® from American Express MAJOR Updates | Still Worth It?

TL;DR

American Express has made changes to the Platinum Card, including a higher spending requirement for the welcome bonus and an increase in the cost of authorized user cards.

Transcript

all right so American Express has recently made some significant changes to one of my own personal favorite credit cards the AmEx platinum in this video we're going to keep it short and easy we're gonna go over what those changes are how it really affects us and towards the end of this video we're going to be going over whether or not this is the s... Read More

Key Insights

• 🗺️ The increase in the welcome bonus spending requirement may not be a concern for those who spend a significant amount on travel expenses.
• 👤 The increase in cost for authorized user cards may deter families from adding additional users to their Platinum Card accounts.
• 🎴 The rebranding of the free gold card as the companion platinum card provides a clearer understanding of its benefits.
• 💄 American Express is making changes to limit abuse and overcrowding in Centurion Lounges.
• 🇦🇸 The replacement of Audible with The Wall Street Journal indicates a possible internal dispute within American Express.
• 🥶 American Express is cracking down on multiple welcome bonuses for co-branded versions of the Platinum Card.
• 💳 While the changes may not be significant, other credit card issuers are stepping up their game, providing alternative options for customers.

Questions & Answers

Q: How has American Express changed the welcome bonus requirement for the Platinum Card?

American Express has increased the spending requirement for the welcome bonus from $6,000 to $8,000 within the first six months of card ownership.

Q: What is the impact of the increase in cost for authorized user cards?

The cost of authorized user cards for the Platinum Card has increased from $175 to $195 per user per year, making it more expensive for families to add authorized users.

Q: How has American Express rebranded the free gold card that comes with the Platinum Card?

The free gold card that comes with the Platinum Card has been rebranded as the companion platinum card, offering a watered-down version of the gold card's benefits.

Q: What other changes has American Express made to the Platinum Card?

American Express has replaced Audible with The Wall Street Journal as part of the monthly Entertainment Credit, and they are cracking down on multiple welcome bonuses for co-branded versions of the Platinum Card.

Summary & Key Takeaways

• American Express has increased the spending requirement for the Platinum Card's welcome bonus from $6,000 to $8,000 within the first six months.

• The cost of authorized user cards for the Platinum Card has also increased from $175 to $195 per user per year.

• American Express has rebranded the free gold card that comes with the Platinum Card as the companion platinum card.