Why I’m Embracing the Couponing Mindset With Amex Cards

I can’t tell you how many rants I’ve read about American Express degrading the value of its credit cards with each new product refresh.

And you know what? I don’t see it that way.

I know that a lot of folks dislike the monthly, quarterly, semi-annual, or even annual cycle of credits that comes with an Amex card, but I’m not one of them. Let me tell you why.

Not Every Credit is Necessary To Unlock Value

I get that it can be complicated and annoying to remember which credits expire when — and how — often they refresh. Take, for example, the credits you’ll get with The Platinum Card^® from American Express (some require enrollment), which is infamously known as a fancy coupon book:

• Airline Incidental Fee Credit: Up to $200 annually
• Prepaid Hotel Credit: Up to $200 annually on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through AmexTravel.com (requires a minimum 2-night stay)
• Saks Fifth Avenue Credit: Up to $100 (up to $50 semi-annually)
• Equinox+ Credit: Up to $300 annually
• Digital Entertainment Credits: Up to $240 (Up to $20 monthly)
• TSA PreCheck or Global Entry Application Fee Credit: Up to $120 statement credit for Global Entry every 4 years or up to $85 for TSA PreCheck application fees every 4.5 years
• CLEAR Plus^® Membership Credit: Up to $199 annually
• SoulCycle Bike Credit: Up to $300 annually
• Walmart+ Membership Credit: Up to $155 annually (Up to $12.95 monthly)
• Uber Cash Credit: Up to $200 annually ($15 monthly and $35 in December)

I don’t know about you, but I don’t love keeping track of all these deadlines, either. And I’ll admit that I’ve missed a few, especially since I have so many Amex cards.

Despite this, I’m not at all averse to this couponing mindset to maximize my cards. It’s simple math: There is way more value in the statement credits than I’m paying for the $695 annual fee (rates & fees), even if you don’t maximize every single credit.

How I Maximize My Amex Statement Credits

Some credits are easier to use than others. By focusing on using only a few perks every year, I’m able to find lasting value from my Amex Platinum card as a frequent traveler.

Keeping up with the Amex Platinum card example above, the airline incidental fee credit, the prepaid hotel credit, and the CLEAR Plus credit are always put to use. As they’re offered on an annual basis, they take up very little of my headspace.

In my day-to-day, I have my Disney+ subscription set to auto-pay on my Amex card each month, making the digital entertainment credit a hassle-free benefit that ensures I’ll get back the $15.99 subscription cost. Plus, thanks to my Walmart+ subscription, all my groceries are delivered free, another convenient set-it-and-forget-it perk.

BEST LOUNGE ACCESS

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The Platinum Card^® from American Express

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

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The Platinum Card^® from American Express

The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.

Welcome Offer

Earn 80,000 Membership Rewards^® Points after you spend $8,000 on eligible purchases on the Card in your first 6 months of Card Membership.

80,000 points

UP's Bonus Valuation*:

$1,760

Annual Fee

$695

APR

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Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Good to Excellent (670-850)

Why We Like This Card

When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card^® from American Express.

Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.

Pros & Cons

Pros

• The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges, Priority Pass lounges, Plaza Premium Lounges, and many more!
• 5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
• 5x points per dollar spent on prepaid hotels booked with AmexTravel.com

Cons

• $695 annual fee (rates and fees)
• Airline credit does not cover airfare (only incidentals like checked bags)

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Card Highlights

• Earn 80,000 Membership Rewards^® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
• Earn 5X Membership Rewards^® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards^® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts^® or The Hotel Collection bookings through American Express Travel using your Platinum Card^®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card^® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
• The American Express Global Lounge Collection^® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
• $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card^® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card^®.
• $200 Uber Cash: Platinum Card^® Members can get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card^® to your Uber account to get started. Available to Basic Card Member only. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
• $199 CLEAR^® Plus Credit: CLEAR^® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck^® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card^®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card^®. That's up to $50 in statement credits semi-annually. Enrollment required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card^® to your Resy profile.
• $695 annual fee.
• Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
• Terms Apply.

Financial Snapshot

• APR: See Pay Over Time APR
• Foreign Transaction Fees: None

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Enjoy “Free” Things in Life

I recently upgraded my Marriott Bonvoy Bevy™ American Express^® Card to the Marriott Bonvoy Brilliant^® American Express^® Card. Coming in at a higher $650 annual fee (rates & fees), it took a lot for me to stomach the increase in cost.

However, multiple factors swayed my decision to upgrade to the premium version of this Marriott card. I have numerous Marriott stays coming up, with even more likely in the future now that my sister works at a Marriott. After years as a Marriott Bonvoy Gold elite member, upgrading to Platinum — a complimentary benefit of the Marriott Bonvoy Brilliant card — was also becoming quite tempting.

The real game-changer, though, was understanding the monthly dining statement credit, upon enrollment. For those unfamiliar, the Marriott Bonvoy Brilliant card offers up to $300 in dining credit each year, which is distributed up to $25 monthly. This isn’t limited to specific places like the up to $120 dining credit on the American Express^® Gold Card, which only applies to select partners like Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys, upon enrollment.

The Marriott Bonvoy Brilliant card’s dining credit is perfect for me as someone who frequently indulges in all kinds of restaurants. While I pay the annual fee, that monthly $25 “bonus” feels like a little gift each time, almost like using a gift card from Christmas. This sentiment applies to all of Amex’s statement credits, and it’s a fun perk.

In short, combining the up-to-$300 dining credits each year, the 85,000-point Marriott certificate, and the Platinum elite status provided plenty of incentive for me to upgrade to the Marriott Bonvoy Brilliant card.

Final Thoughts

Amex’s growing use of statement credits won’t appeal to everyone. For most people, keeping track of which cards offer which credits and their expiration dates can be a bit overwhelming.

For others — me included — I still find extraordinary value in these cards and their statement credits, so I’ll keep on couponing with the best of them.