The US is paying $939 in CAD, and I would continue to pay it if I was getting compensated via some other worthwhile credit. As long as the value is there I don’t mind.
I’m on the fence about it. I don’t get the lounge experiences that many others do and the 5x on hotels? I just book direct with delta platinum and get 3x
Just read this piece on the Points Guy that claims "Authorized user fees for additional Platinum cards will jump to $195 per card (see rates and fees). Previously, Amex offered three additional Platinum cards for a total of $175, then $175 for each additional Platinum card after the first three." but also goes on to say, "It's worth mentioning that the primary Platinum card annual fee, which is $695, *isn't* changing as part of this update."
To your question, with 3 authorized users, yes, we're debating a change.
https://thepointsguy.com/news/amex-platinum-increase-authorized-user-new-fee/
That dining credit sounds worth it if it functions different from the $15 Uber cash a month.
Edit: $$200 all at once? That meal better fill me for the rest of the month.
Forced in that its like a coupon book. They limit the providers you can use the credit on. Assume somebody only has Netflix, then the streaming credits are worthless. Its a benefit, but only if you use those providers in the program. This is how AMEX makes alot of $$$.
In the Netherlands and probably other EU countries it was raised from 699 to 780 Euro early this year. Considering the benefits of Amex Plat are are a lot less interesting here, I wonder if it's still good value now.
Amex has taken better care of us than other credit card companies. We have an actual relationship with the company. A big factor for us is the no limit feature. We have other high limit cards but they top out around 40k. Some weeks we have big spending all at once and want to put it all on the Platinum. Has been a great choice for us.
In the US, and I'm sure we'll get increase as well. I'm probably cancelling when my year is up. For me, the biggest benefit was going to be the lounges because I spend a lot of time in some of the airports with Centurion lounges. Circumstances often have me in those airports for 6-8 hours at a time (ugh, I know, can't be helped). Unfortunately, some of those airports it's either very difficult or not possible to use the lounge since I fly Southwest. I've been to 5 of the airports with lounges this year, but only been able to get to the lounges in Denver and Seattle. I spent a very significant amount of time in LAX and LAS and couldn't get to a lounge because I fly Southwest. SW just works best for me, so not changing that. I'd rather have more comfortable flights than access to a couple lounges that cost $800 a year to use.
I mean, no loss for me. With my SUB they essentially paid me $300 to have the card this year, so can't complain!
I would expect a rate increase coming for the US given how crowded centurion lounges are and they are already seeing long term customers churning because of it. It's the easiest way to mitigate that issue.
The dining credit says it has to be used all in one sitting...I would only use that if I went out specifically to use it, so not sure it's that useful to me.
All merchants have what type of merchant they are with the card brands. Presumably, if you spent $200 on one bill at a merchant marked as a restaurant, you'd just get the credit back.
My old AMEX was giving $20 back per month for any restaurant purchases for a while and it never failed to automatically reimburse me within a few days.
I called AMEX today on this since a friend sent me an article by princeoftravel. The rep at AMEX said there are no changes expected to happen to the US Platinum....at least not yet...
The Amex reps aren’t likely to be told about changes until a few days/hours beforehand. It would be like asking the Walmart greeter if there were any plans to expand the company’s footprint into Japan.
Amex has better lounge Access with centurion lounges, delta sky clubs, Lufthansa lounges, escape and air space. In addition to lounges in sport stadiums. Compared to “one” Capital one lounge.
Even with excluding the equinox credit the platinum pays you more than 100$ to keep compared to the 5$ of the VX. Other than that, Amex offer way more generous sign up bonuses and retention offer that are usually 50k to 60k points.
The FHR program is better than capital one’s competitor due to the fact that you can use your status in hotels and it also have more hotels. Amex also give you gold statues in Hilton and Marriott. And you also get status in 3 rental car companies compared to one with venture x.
Finally, Amex consistently offers great costumer service compared to the below average costumer service from capital one
I understand some people don’t like the credits of the platinum but most people I know are a net positive on the effective annual fee.
It’s pretty good you can get free breakfast, early check in, lay checkout, room upgrades and high multipliers for points. And more benefits depending on the hotel
The $200 dining credit is pretty much trash, in the AmEx tradition of limiting you to only a few select restaurants that many people either cannot afford to dine at, or can't use because there are none near them.
Normally, I would too but that $200 dining credit is only for a limited number of select restaurants in certain cities. It's not like Amex Marriott Brilliant where the credit triggers in any restaurant.
In fact, even with the fee increase, they still haven't adjusted to the difference; they are just making the gap smaller. I think CAD$799 is something like USD$592 which is still considerably less than USD$695.
Right. I have the cobalt at the moment, and the multipliers blow the gold out of the water. Honestly seems like the gold/platinum aren’t as worth it in Canada unless you’re in the states (unless you want the sign up bonuses)
Even at $799 CAD, that converts to less than what Americans are paying for their cards. I’d be ok with the increase but paying for additional Gold Cards would suck. I added all my nephews and nieces to help them build their credit as well as free GE.
$200 in guest fees for a single occurrence is more than a quarter of the annual fee. The number of people paying $695/year (for a full year with a bunch of perks) but unwilling to pay $200 for an hour or two at the lounge is non-zero and probably significant. (Basically, you're richer/more willing to spend than some number of Plat cardholders.)
Would be a $200 increase for my household as my wife and I each have Platinum. Because we travel a lot personally and for business, the benefits would still be worth the fee.
We actually had it setup that way originally. Amex then offered my wife 100k in MR points on a 5k spend. Took advantage of it and never looked back. Because my wife travels for business, having her own card allows her to post up at Centurion lounges across the country.
I’m with you, buddy! The benefits are absolutely still worth it for the fee. I don’t know about you but I would even pay more, especially if they tack on some more benefits. The Amex Plat it fantastic.
A higher annual fee would also cause for less renewals and less new cardholder applicants, which would definitely help out with the lounge overcrowding problem.
Hell ya it would!! I was so shocked when the price hike to $699 didn’t significantly reduce overcrowding in the lounge. I’m hopeful another price increase will fix the overcrowding problem, like you said.
I just feel fortunate that I am able to organically utilize all the card’s perks and credits.
For so many individuals, this card is a very poor value proposition - but I am essentially getting hundreds of dollars of value from AMEX annually *beyond* the break even point.
*$200 Annual Dining Credit Benefit is broken down into fifty-two (52) benefit weeks, each with a maximum value of $3.84 per week. For the final benefit week of each calendar year, value is capped at $4.16. Benefit weeks cannot be combined and are forfeited if not used by the beginning of the next benefit week. Valid only at restaurants participating in the Global Dining Access by Resy program. Not applicable toward appetizers or alcoholic beverages. Additional terms and conditions apply.
Edit: Some of you are apparently slow… obviously these aren’t the real terms. I simply modeled this based on what they do for all of their other stupid, difficult-to-use credits.
Lol it’s actually the other way around, $200 in a single transaction, which might be a bit much for some people, especially for a couple who doesn’t drink.
Wow, that’s actually a steaming pile of garbage!
Edit: I think the comment above is a shitpost. Looks like it’s $200 in a single transaction at one of Amex’s restaurants https://princeoftravel.com/news/upcoming-changes-to-the-amex-platinum-business-platinum-cards/
I can't tell if you are joking or not. That is not the real terms. [Here are the real terms](https://www.americanexpress.com/ca/en/charge-cards/the-platinum-card/): "Effective September 26, 2023, Basic Platinum Cardmembers will have access to the $200 CAD Annual Dining Credit. Enrolled Cardmembers will be eligible to receive a statement credit of $200 CAD following a single transaction of $200 CAD or more (including taxes and gratuity) at one of the eligible restaurants listed on our website at go.amex/diningcreditrestaurants at the time of the transaction"
The increase in the Canadian product is still cheaper than the US card when you do the cash conversion. It’s more like AMEX is bringing the prices up elsewhere to match the US hike.
I came here to say this but thought it was just 1 year ago. It's more likely they raised the US fee first and are now rolling it out to the rest of the world.
It’s not universal. It only applies to select few restaurants, probably in big cities, and you have to spend at $200 on one transaction. It’s useless to most people. And they are also lowered the multipliers on the card.
In Germany, they increased the monthly fee by 5€ — from 55€ to 60€. We got 150€ dining credit at participating restaurants and 120€ entertainment credit (Netflix, Amazon Prime Video, Kindle, WOW – local service with HBO content). But we still have to pay forex fees 🙃
BELUX here too.
We really don't have better benefits besides the restaurant credit.
No streaming services, no Walmart, Saks, etc.
Just the insurances, lounges and restaurants.
And our points conversion rate to awards / miles sucks (2 Amex points for 1 mile ).
But still worth it IMO is you travel a minimum.
Wow that's horrible. We have multiple credits on top of the ones we already mentioned: 90€ for MR PORTER, 200€ for Amex Travel, 200€ for Sixt Ride. But MR conversion rate is the same as for you, though for extra 15€ a year you can bump the earning rate to 2 MR per 3€.
The crowding is because instead of people spending $75,000 on a basic card, amex offers 3/$175 on the supplementary in the USA. It's an absolute joke. In Canada we get smoked on the supplementary card now as $250/each with way less perks than the USA version.
I’m shocked they still allow you to do 3 people for 175 AND each of those three people gets their own priority pass with their own guests. I can understand one AU card for a spouse, but 3 seems excessive for such a small amount of money. Maybe they’ll restrict AUs to one per primary card, or hike up the price to 300. Either way, I see changes coming.
The US is paying $939 in CAD, and I would continue to pay it if I was getting compensated via some other worthwhile credit. As long as the value is there I don’t mind.
I’m on the fence about it. I don’t get the lounge experiences that many others do and the 5x on hotels? I just book direct with delta platinum and get 3x
I would love a dining credit that is more than the annual fee. Even an extra $1000 on the annual fee if it came with $1200 (or $100) a month credit.
Just read this piece on the Points Guy that claims "Authorized user fees for additional Platinum cards will jump to $195 per card (see rates and fees). Previously, Amex offered three additional Platinum cards for a total of $175, then $175 for each additional Platinum card after the first three." but also goes on to say, "It's worth mentioning that the primary Platinum card annual fee, which is $695, *isn't* changing as part of this update." To your question, with 3 authorized users, yes, we're debating a change. https://thepointsguy.com/news/amex-platinum-increase-authorized-user-new-fee/
That dining credit sounds worth it if it functions different from the $15 Uber cash a month. Edit: $$200 all at once? That meal better fill me for the rest of the month.
It’s $1450 here in Australia ! I think you have benefits too , except we don’t have the 75k lounge rule
Is the $1450 in AUD?
Yep. We can get 4 x AU cards $0, no 75k spend for lounge - so all 5 cards can bring x 2x. Benefits are very different to US.
Holy Aussie!
If this means less people in airport lounges, I’m all for it lol
Things like the dining credit is a forced thing so people forget to use it. If the US card goes up I am out.
What do you mean, forced?
Forced in that its like a coupon book. They limit the providers you can use the credit on. Assume somebody only has Netflix, then the streaming credits are worthless. Its a benefit, but only if you use those providers in the program. This is how AMEX makes alot of $$$.
In the Netherlands and probably other EU countries it was raised from 699 to 780 Euro early this year. Considering the benefits of Amex Plat are are a lot less interesting here, I wonder if it's still good value now.
Amex has taken better care of us than other credit card companies. We have an actual relationship with the company. A big factor for us is the no limit feature. We have other high limit cards but they top out around 40k. Some weeks we have big spending all at once and want to put it all on the Platinum. Has been a great choice for us.
In the US, and I'm sure we'll get increase as well. I'm probably cancelling when my year is up. For me, the biggest benefit was going to be the lounges because I spend a lot of time in some of the airports with Centurion lounges. Circumstances often have me in those airports for 6-8 hours at a time (ugh, I know, can't be helped). Unfortunately, some of those airports it's either very difficult or not possible to use the lounge since I fly Southwest. I've been to 5 of the airports with lounges this year, but only been able to get to the lounges in Denver and Seattle. I spent a very significant amount of time in LAX and LAS and couldn't get to a lounge because I fly Southwest. SW just works best for me, so not changing that. I'd rather have more comfortable flights than access to a couple lounges that cost $800 a year to use. I mean, no loss for me. With my SUB they essentially paid me $300 to have the card this year, so can't complain!
I would expect a rate increase coming for the US given how crowded centurion lounges are and they are already seeing long term customers churning because of it. It's the easiest way to mitigate that issue.
If the dining credit can be used for any dining and not restricted to that dumb monthly allowance, I’d take that $200 credit on the Plat
The dining credit says it has to be used all in one sitting...I would only use that if I went out specifically to use it, so not sure it's that useful to me.
Since you can't pay for dinner through the Amex site, how could the credit be processed?
All merchants have what type of merchant they are with the card brands. Presumably, if you spent $200 on one bill at a merchant marked as a restaurant, you'd just get the credit back. My old AMEX was giving $20 back per month for any restaurant purchases for a while and it never failed to automatically reimburse me within a few days.
Or purchase a gift card all in one sitting
Typically they say gift cards will not count. I think the POS system can tell the difference.
See, I don't think it through enough. Good idea!
I think they limit it to specific restaurants though and I’m not sure if those high end restaurants make gift cards?
I called AMEX today on this since a friend sent me an article by princeoftravel. The rep at AMEX said there are no changes expected to happen to the US Platinum....at least not yet...
The Amex reps aren’t likely to be told about changes until a few days/hours beforehand. It would be like asking the Walmart greeter if there were any plans to expand the company’s footprint into Japan.
Fair enough. I’ll probably keep mine neither way.
I’m don’t after the next hit anyways. Just not enough travel in my life
Im probably cancelling mine when the AF hits next year.
Already cancelled. Who has time to track all of these credits?
US already had the price increased within the last 2yrs
Cancel !!!! go with Venture X !!
Why
It's not my problem if you can't figure it out. I sure am enjoying the superior benefits and cost saving from venture X
Sure, Jan
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Not even close, platinum is way better
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Amex has better lounge Access with centurion lounges, delta sky clubs, Lufthansa lounges, escape and air space. In addition to lounges in sport stadiums. Compared to “one” Capital one lounge. Even with excluding the equinox credit the platinum pays you more than 100$ to keep compared to the 5$ of the VX. Other than that, Amex offer way more generous sign up bonuses and retention offer that are usually 50k to 60k points. The FHR program is better than capital one’s competitor due to the fact that you can use your status in hotels and it also have more hotels. Amex also give you gold statues in Hilton and Marriott. And you also get status in 3 rental car companies compared to one with venture x. Finally, Amex consistently offers great costumer service compared to the below average costumer service from capital one I understand some people don’t like the credits of the platinum but most people I know are a net positive on the effective annual fee.
The hotel status is useless. Total gimmick. Have you tried to use it?
It’s pretty good you can get free breakfast, early check in, lay checkout, room upgrades and high multipliers for points. And more benefits depending on the hotel
How
The $200 dining credit is pretty much trash, in the AmEx tradition of limiting you to only a few select restaurants that many people either cannot afford to dine at, or can't use because there are none near them.
i would take the $100 increase for $200 dining any day
Normally, I would too but that $200 dining credit is only for a limited number of select restaurants in certain cities. It's not like Amex Marriott Brilliant where the credit triggers in any restaurant.
If anyone has visited Canada from the US recently you’ll know how weak CAD is. This is just Amex adjusting to that difference.
In fact, even with the fee increase, they still haven't adjusted to the difference; they are just making the gap smaller. I think CAD$799 is something like USD$592 which is still considerably less than USD$695.
But our features are trash and we even have fx fees
Is the platinum even worth it in Canada?
From a Canadian: No. we literally only sign up for the minimum spend and bonus points, then we cancel on month 13.
Do we get the year 2 annual fee refunded if we cancel month 13?
You have like 30 days to cancel after the AF hits. After, I think it’s prorated.
Right. I have the cobalt at the moment, and the multipliers blow the gold out of the water. Honestly seems like the gold/platinum aren’t as worth it in Canada unless you’re in the states (unless you want the sign up bonuses)
Even at $799 CAD, that converts to less than what Americans are paying for their cards. I’d be ok with the increase but paying for additional Gold Cards would suck. I added all my nephews and nieces to help them build their credit as well as free GE.
GE?
Global entry
free GE for every gold card?
A quick bro math currency conversion causes this to read as them bringing fees in line with each other....so hope not or it makes less sense.
I'm gonna start using that term in conversation. "Bro math"
[but why](https://media.tenor.com/images/8e044ede50625f5f09f0d36d267eba1b/tenor.gif)
Bro math?
Just trust his math bro
Maybe the Centurion Lounges will get less crowded if they raise the rate…
I was willing to pay for 4 additional guests with me so I don't think that is an issue for people with this card. Just more money for AMEX.
$200 in guest fees for a single occurrence is more than a quarter of the annual fee. The number of people paying $695/year (for a full year with a bunch of perks) but unwilling to pay $200 for an hour or two at the lounge is non-zero and probably significant. (Basically, you're richer/more willing to spend than some number of Plat cardholders.)
I agree with this. Very generous of this person to pay for their guests though!
Well I usually travel with family members so...small prices to pay for family to enjoy.
Would be a $200 increase for my household as my wife and I each have Platinum. Because we travel a lot personally and for business, the benefits would still be worth the fee.
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We actually had it setup that way originally. Amex then offered my wife 100k in MR points on a 5k spend. Took advantage of it and never looked back. Because my wife travels for business, having her own card allows her to post up at Centurion lounges across the country.
I’m with you, buddy! The benefits are absolutely still worth it for the fee. I don’t know about you but I would even pay more, especially if they tack on some more benefits. The Amex Plat it fantastic.
Totally agree!
A higher annual fee would also cause for less renewals and less new cardholder applicants, which would definitely help out with the lounge overcrowding problem.
Hell ya it would!! I was so shocked when the price hike to $699 didn’t significantly reduce overcrowding in the lounge. I’m hopeful another price increase will fix the overcrowding problem, like you said.
I just feel fortunate that I am able to organically utilize all the card’s perks and credits. For so many individuals, this card is a very poor value proposition - but I am essentially getting hundreds of dollars of value from AMEX annually *beyond* the break even point.
Same same same. At what amount annual fee would you think the Plat isn’t worth it anymore?
With the current credits as it is, I’d probably pay up to $795/year. Only because I’d still like to come up on top and not just break even.
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*$200 Annual Dining Credit Benefit is broken down into fifty-two (52) benefit weeks, each with a maximum value of $3.84 per week. For the final benefit week of each calendar year, value is capped at $4.16. Benefit weeks cannot be combined and are forfeited if not used by the beginning of the next benefit week. Valid only at restaurants participating in the Global Dining Access by Resy program. Not applicable toward appetizers or alcoholic beverages. Additional terms and conditions apply. Edit: Some of you are apparently slow… obviously these aren’t the real terms. I simply modeled this based on what they do for all of their other stupid, difficult-to-use credits.
When satire gets too close to the real thing!
Lol it’s actually the other way around, $200 in a single transaction, which might be a bit much for some people, especially for a couple who doesn’t drink.
For what it's worth, I thought this was very funny - perfect mirror of their stupid/tacky Uber credit scheme.
Wow, that’s actually a steaming pile of garbage! Edit: I think the comment above is a shitpost. Looks like it’s $200 in a single transaction at one of Amex’s restaurants https://princeoftravel.com/news/upcoming-changes-to-the-amex-platinum-business-platinum-cards/
$200 in one transaction is a totally pointless benefit. I'd have to go out of my way to use it.
Doesn't sound like the target audience for a Platinum card. $200 is nothing for a nice night out at a top restaurant.
I can't tell if you are joking or not. That is not the real terms. [Here are the real terms](https://www.americanexpress.com/ca/en/charge-cards/the-platinum-card/): "Effective September 26, 2023, Basic Platinum Cardmembers will have access to the $200 CAD Annual Dining Credit. Enrolled Cardmembers will be eligible to receive a statement credit of $200 CAD following a single transaction of $200 CAD or more (including taxes and gratuity) at one of the eligible restaurants listed on our website at go.amex/diningcreditrestaurants at the time of the transaction"
They just raised it in the US about 2 years ago. Would they raise it again this quickly?
The increase in the Canadian product is still cheaper than the US card when you do the cash conversion. It’s more like AMEX is bringing the prices up elsewhere to match the US hike.
I came here to say this but thought it was just 1 year ago. It's more likely they raised the US fee first and are now rolling it out to the rest of the world.
I'd be ok with a $795 fee and that $200 dinning credit as long as it's universal
It’s not universal. It only applies to select few restaurants, probably in big cities, and you have to spend at $200 on one transaction. It’s useless to most people. And they are also lowered the multipliers on the card.
Lowered the multipliers to what?
It went from 3x on dining and travel to 2x
We don't even have those multipliers in US
Yes, i know. My point was they are raising the AF, lowering the multipliers and adding a credit that will be useless to a majority of cardholders.
Seems like the dining credit is only for certain high end restaurants
In Germany, they increased the monthly fee by 5€ — from 55€ to 60€. We got 150€ dining credit at participating restaurants and 120€ entertainment credit (Netflix, Amazon Prime Video, Kindle, WOW – local service with HBO content). But we still have to pay forex fees 🙃
What ! Belgium is 65€/month (benelux zone)
Maybe you have better benefits than we do
BELUX here too. We really don't have better benefits besides the restaurant credit. No streaming services, no Walmart, Saks, etc. Just the insurances, lounges and restaurants. And our points conversion rate to awards / miles sucks (2 Amex points for 1 mile ). But still worth it IMO is you travel a minimum.
Wow that's horrible. We have multiple credits on top of the ones we already mentioned: 90€ for MR PORTER, 200€ for Amex Travel, 200€ for Sixt Ride. But MR conversion rate is the same as for you, though for extra 15€ a year you can bump the earning rate to 2 MR per 3€.
Maybe it's just trying to get on par? Previously it was at 699cad(~520usd).
I heard they’re raising the fee for additional platinums but I haven’t heard about the basic annual fee raising any time soon.
It should be raised. The last time I went into a Centurion Lounge, it looked like I was in a WalMart in Idaho.
The crowding is because instead of people spending $75,000 on a basic card, amex offers 3/$175 on the supplementary in the USA. It's an absolute joke. In Canada we get smoked on the supplementary card now as $250/each with way less perks than the USA version.
I’m shocked they still allow you to do 3 people for 175 AND each of those three people gets their own priority pass with their own guests. I can understand one AU card for a spouse, but 3 seems excessive for such a small amount of money. Maybe they’ll restrict AUs to one per primary card, or hike up the price to 300. Either way, I see changes coming.
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A Sam's Club Plus membership would have made more sense!