American Express Expands ‘Platinum’ Rewards: Should You Switch Credit Cards?

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These fancy new American Express Platinum Card perks offer a key lesson to anyone who has a credit card.

The American Express Platinum Card is about to get shinier, both literally and figuratively. It’s an upgrade that every credit card holder should note.

American Express announced Thursday that, starting March 30, Platinum Card holders will receive additional rewards and a redesigned card made from “sleek metal.”

The new benefits include:

  • Up to $200 in Uber credits annually.
  • Automatic Uber VIP status, in areas where the premier service is available.
  • 5X points for eligible hotel stays booked through American Express. This is in addition to a recent announcement of 5X points for flights.
  • Access to more than 1,000 airport lounges.
  • Dining perks like access to “one-of-a-kind dining experiences,” exclusive reserved seating and culinary events.
  • Lodging perks like free daily breakfast for two and guaranteed 4 p.m. late checkout, for stays at eligible hotels and resorts booked through American Express.

All of the existing Platinum perks, such as up to $200 in airline-fee credits annually, will also remain.

These rewards come at a price, though. American Express is increasing the Platinum Card annual fee from $450 to $550.

If the American Express Platinum Card is not for you, take this news as a reminder to compare your own credit card of choice with the latest offerings.

As we recently reported in “3 Reasons You Should Switch Credit Cards,” 32 million Americans haven’t changed their preferred credit card company in at least a decade. Such consumers are likely missing out on valuable perks:

“… there are some compelling reasons to consider switching up your favorite piece of plastic. Many of today’s cards come with enhanced rewards and generous sign-up bonuses.”

If you’re ready to learn what cardholder perks you might be overlooking, try our “Finding the Perfect Plastic” tool. It allows you to search for credit cards by reward type.

For further guidance, check out:

Are you happy with your credit card rewards? Let us know why or why not by commenting below or on Facebook.

Stacy Johnson

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Read Next: 3 Reasons You Should Switch Credit Cards

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