If you have the Amex Platinum, you can offset its annual fee even when you’re not traveling – if you maximize these benefits.
The Platinum Card® from American Express is one of the most popular travel credit cards on the market, known for lucrative benefits that make for comfortable travel – including Centurion lounge access, elite hotel and car rental program status, and more.
But travel benefits aren’t the only thing this card can offer. The Amex Platinum also comes with enough attractive non-travel perks to compensate for the card’s $695 annual fee by themselves, if you use them all.
American Express has recently announced a slew of new Platinum Card benefits worth more than $1,400 if you take advantage of all available statement credits. That includes an everyday value of more than $750.
Read on to learn about the non-travel benefits the American Express Platinum offers.
Digital entertainment credit
With Amex’s new benefits, you can save cash while checking out your favorite TV shows, podcasts, satellite radio channels and news coverage from a handful of popular providers. You can get up to $20 in statement credits per month ($240 each year) when you use your card for eligible purchases from Peacock, Audible, Sirius XM and The New York Times. Enrollment is required to receive this benefit.
Uber Cash credit
An Uber Cash credit has been an exciting addition to the card’s benefits. As there has been more demand than ever for food delivery during the pandemic, this is a highly valuable perk.
With this benefit, Amex Platinum cardholders can earn up to $15 in monthly Uber Cash credits for Uber rides or Uber Eats and an extra $20 in December – $200 in total annual value. You must add your Platinum card to the app.
Fitness enthusiasts can earn up to $300 in statement credits each year when they use the Amex Platinum to pay for eligible Equinox memberships, including Equinox All Access, Destination or E by Equinox, and for the mobile app Equinox+. You can earn up to $25 in statement credits each month upon enrollment.
On top of that, Platinum cardmembers can receive up to $300 in annual statement credits on the SoulCycle At-Home Bike through Equinox+.
Another delivery perk Amex Platinum cardholders can get is a free ShopRunner membership, valued at $79 per year. Similar to Amazon Prime, the program offers free two-day shipping from more than 100 stores, including Bloomingdales, Saks Fifth Avenue, Nieman Marcus and many others.
The list of retailers ShopRunner partners with is somewhat limited, but if you find any of your favorite stores or brands on it, this subscription can prove valuable. Enrollment required.
Saks Fifth Avenue credit
Speaking of shopping benefits, the Amex Platinum has even more to offer. With the card, you can earn two $50 Saks Fifth Avenue statement credits per year – one available from Jan. 1 through June 30 and the other from July 1 through Dec. 31.
The best part is, it’s easy to double-dip with these benefits. You can use your Amex Platinum at Saks Fifth Avenue to get the statement credit and get free two-day shipping with ShopRunner. If you shop through an online portal, you can also maximize your rewards.
The most recent addition to Platinum’s list of non-travel benefits is Walmart+ statement credits.
Walmart+ is a membership service from Walmart allowing subscribers to get unlimited free shipping and one-hour delivery windows in eligible areas. Users can get free grocery delivery on orders of $35 or more, ship eligible everyday items for free and get other useful perks.
This handy subscription costs $12.95 per month, but if you pay with the Amex Platinum, you’ll receive statement credits to cover these charges.
Purchase protection benefits
To give you peace of mind when shopping, the Amex Platinum also offers purchase protection benefits, including cellphone protection, return protection and extended warranty coverage.
The American Express Platinum comes with purchase protection coverage of up to $10,000 per incident and $50,000 per year. This type of coverage can help you cover items you’ve purchased with the card that are lost or damaged.
Further, you can use return protection if a merchant won’t accept an eligible item for return within 90 days of purchase. With this coverage, you can get a refund of up to $300 per item (and up to $1,000 per year).
Extended warranty adds up to one year to the manufacturer’s warranty of five years or less on items you purchase with your Amex Platinum. The coverage is limited to $10,000 per claim and up to $50,000 per calendar year.
Get more than $750 in everyday value
If you maximize all the available Amex Platinum non-travel benefits, the total value adds up to more than $750 annually – or more than $950, if you count the Uber Cash credit. The purchase protection benefits may also bring a lot of value should you use them, as these coverages have the potential to save you hundreds or even thousands of dollars in case something goes wrong with your purchase.
This math makes the $695 annual fee easily justifiable, especially if you consider all the travel perks the card is best known for, as well as special offers.