American Express Platinum adds Walmart + membership and SoulCycle benefits to the card
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The American Express Platinum Card® is one of the most popular travel credit cards for its myriad of benefits. Along with travel credits, travel insurance, airport lounge access, automatic hotel loyalty status, and digital entertainment credits, the card offers a huge list of benefits.
In addition to all of these benefits and a stunning welcome offer of 100,000 Membership Rewards® points after spending $ 6,000 within six months of opening the account, cardholders now have access to two new features: free Walmart + membership and up to $ 300 SoulCycle bike credit.
Here’s what you need to know about the new perks, as well as other features already included on the Amex Platinum.
American Express Platinum Card announces two new benefits
The pandemic has dramatically changed the way many people live, including the way they spend their time and money, and credit card issuers aim to meet their customers where they spend or something like that.
In 2020, we saw many banks, including American Express and Chase, make significant adjustments to the benefits of their credit cards. And as new shopping and lifestyle trends emerge even more than a year and a half after the initial pandemic lockdowns, issuers continue to roll out new benefits, including these two new American-style benefits. Express Platinum.
Walmart + subscription
These days, almost everyone is shopping online. According to an American Express study, 3 in 4 adults report spending more on online purchases in the past year than in previous years. And with the holiday season quickly approaching, it’s likely that more adults will spend more spending on online shopping.
If your purchases include Walmart, the Walmart + Perk may help. With the American Express Platinum card, you will receive:
- Statement credit that covers the full cost of a Walmart + monthly subscription ($ 12.95 / month plus applicable taxes) when paying with the American Express Platinum card.
Walmart + is the retailer’s response to Amazon Prime where members get the following benefits:
- Free delivery with no minimum order on items shipped by Walmart
- Free in-store delivery (if available)
- Mobile and contactless payment
- Free delivery from store
- Prescription Discounts
- Fuel discounts
SoulCycle bike credit
Many Americans have turned their homes not only into offices, but also into gymnasiums. In response, Amex introduced an annual Equinox credit of $ 300 ($ 25 per month) (registration required) when it updated the card in July. Now they’re building on that to include SoulCycle purchases. With the Amex Platinum, you will get:
- $ 300 statement credit every time they purchase a SoulCycle home bike, up to 15 times per calendar year.
The SoulCycle bike currently costs $ 2,500 plus tax, so this credit reduces the purchase price by $ 300. However, keep in mind that to use the bike, an Equinox + membership is required. It’s $ 40 per month, but is partially covered by the Equinox credit of $ 25 per month offered by the Platinum card.
Strengths of the American Express Platinum card
The benefits of this card are exceptional, but the annual fee of $ 695 can also be daunting (see rates and fees). But by using the card to its full potential, you can quickly offset the cost.
With the American Express Platinum card, you will have access to these advantages:
- $ 200 hotel credit when you book a prepaid hotel stay with Fine Hotels + Resorts or The Hotel Collection groups.
- Up to $ 240 per year ($ 20 credit on monthly statement) for these media services: Peacock, Audible, SiriusXM and The New York Times.
- Up to $ 300 annual credit ($ 25 per month) for Equinox or Equinox + membership.
- Up to $ 200 annual credit towards Uber and Uber Eats.
- Up to $ 200 incidental airline expense credit per year.
- Up to $ 179 annual credit to sign up for CLEAR.
- Annual credit of $ 100 ($ 50 every two years) to shop at SAKS Fifth Avenue.
- Up to $ 100 credit every four years to enroll in TSA PreCheck / Global Entry.
- Automatic elite status with the Hilton Honors and Marriott Bonvoy loyalty programs.
- Auto Elite Status with the following car rental companies: Avis, Hertz and National.
- 5X points on flights booked directly with airlines or American Express Travel, up to $ 500,000 on these purchases per calendar year. 5X points on hotels booked through Amex Travel.
- Travel insurance coverage
- Rental car coverage
- High-end 24/7 concierge service
- Conditions apply
The American Express Platinum Card®
On the secure American Express site
Earn 10X points on qualifying card purchases at restaurants around the world and when you make small purchases in the United States, up to $ 25,000 in combined purchases, during your first 6 months of membership. card, 5X points on flights booked directly with airlines or with American Express Voyages (as of January 1, 2021, this applies up to $ 500,000 per calendar year), 5X points on prepaid hotels booked with American Express Travel, 1X points on all other purchases
100,000 Membership Rewards® points after spending $ 6,000 within 6 months of opening the account
Balance transfer fees
Foreign transaction fees
At the end of the line
The Platinum Card from American Express continues to increase its value to cardholders, despite its annual fee of nearly $ 700 (see Rates and Fees).
However, these perks are both perks rather than game changers. Walmart + membership isn’t something that should really sway your decision one way or the other, especially if you already have something. similar like Amazon Prime. If you were already in the market for a premium exercise bike, the savings of $ 300 with SoulCycle might help justify the annual fee, but then you need to rationalize paying over $ 2,200 for equipment. of gym.
But before you apply, make sure that you are able to budget for the annual fee and reap the benefits. You should never put yourself under financial strain just to have a credit card.
For American Express Platinum Card® rates and fees, Click here.
Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.