New and existing cardholders will now be able to earn three points for every dollar they spend on eligible dining experiences, up from 1.25 points previously, Amex announced Wednesday.
They’ll also be able to earn two points per dollar spent on eligible travel expenses.
Meanwhile, the earn rate for every other type of purchase has been bumped down slightly, from 1.25 points per dollar spent to one point per dollar spent.
Accumulated points on do not have an expiry date.
The new focus on dining out and travel is meant to reflect “the travel and lifestyle habits” of Platinum Card customers, Amex said in its release.
In addition to the higher earn rate, Platinum card customers can now also access complimentary benefits when they make a booking at one of the hotels in Amex’s Fine Hotels & Resorts network, valued at US$550 on average. These benefits include 4pm late check-out, complimentary daily breakfasts for two guests, and room upgrades when they're available.
Toronto cardholders will also have perks at Toronto Pearson Airport, including security bypass, complimentary valet car service, and discount car care and parking rates.
These new features are the latest addition to the Platinum Card’s already robust list of benefits, which include:
- The opportunity to earn up to 50,000 points if you’re a new cardholder.
- A travel credit valued at $200.
- Access to 1,300 airport lounges in 130 countries.
- Access to exclusive restaurant reservations and “culinary experiences” at restaurants in Amex’s Global Dining Collection network.
- Travel and retail insurance.
The Amex Platinum Card is for serious spenders, and thus comes with a hefty annual fee of $699.
But, if you dine out and travel a lot, the Platinum Card might be well worth the price. We’ll have a review soon of the new card’s earning potential, but check out what we said about the old card in the meantime.
Before you submit an application, we recommend, as always, assessing how the card’s fees will fit into your budget — and your lifestyle.