The well known Platinum Card from American Express is announcing several new changes this year. The most prominent new feature for future cardholders and frequent cardholders is the yearly fee increase from a previously heavy $ 555 to a yet more grating $769. This yearly fee will be more than offset by the many points that you will receive for having an American Express Platinum Card.
Some of the major changes to the American Express platinum benefits are listed here. First, you will no longer be paying the excessive annual fee that was on your account. The new benefits that come with American Express Platinum Cards include: 200 hotel credit, travel rewards, business travel rewards, air miles and much more. These new benefits will make the American Express card at one of the best cards out there. The annual fee change will also reduce the monthly payments that you have to pay.
For the first 6 months to a year, you will also get to enjoy a special reward that will save you a lot of money. American Express will give you 1 free night when you open a new account with them. For anyone who uses the card wisely and makes their payments on time, they will get the first 6 months free. After the six months, the annual fees will cease to be a charge. You will no longer be punished by paying the extra annual fee.
On top of these big changes, American Express has also introduced two new credit cards: The Savings Club and the Shop Express. As with all other American Express cards, both of these have the same features and rewards as well. The only real difference between the two, however, is that the Shop Express does not come with the traditional rewards points. Here are the terms apply to the savings club.
American Express offers two different membership Rewards programs. The Platinum Rewards Club offers members free gas rebates, travel insurance, and much more. When you make your monthly payments on the card, you will also earn a membership points. The higher your membership points, the more money you can save every time you make a purchase at the participating retailers.
The Shop Express, on the other hand, has much less benefits. It is a store card that does not earn any rewards or interest. As a result, it is only meant for use in stores. You will get a lower interest rate, but you will not receive the 50 back statement credit that platinum card members receive. American Express states that there will be an additional $25 fee to shop online with this card.
Both of these credit cards have annual fees and very low grace periods when it comes to payment. You will spend hundreds if not thousands of dollars by the end of your first year. If you don't plan on keeping your balance low, you may find yourself paying off the debt in full before your first year is over. There are many different terms apply to the American Express platinum card and these terms are subject to change at any time without prior notice.
The annual fee to use the American Express platinum card is $125. The Shop Express, however, does not have an annual fee. You can pay an extra fee in order to add more credits to your card, but this will only apply to your first year of membership. You will be able to add additional credits after your first year, but they will have to be paid for using the extra credits you receive.