With the Chase Sapphire Reserve having entered the fray for best high-end card, American Express has realized that it needs to up its game, and makes a big start as of tomorrow.
New Amex Platinum Benefit
Starting October 6, American Express Platinum card holders will earn 5X points on all airfare booked through the American Express travel portal (personal cards only at this point; business card holders get other minor benefits). American Express Membership Rewards points themselves are not worth much when it comes to converting them to cash, but they are very useful when it comes to miles, since Amex has one of the largest lists of transfer partners. Prices through credit card travel portals are usually the same as they are at the airline’s own website, so cost won’t be an issue.
Having said that, I would not consider this change, in and of itself, enough of a reason to rush out and get an American Express Platinum Card. You give up a lot in terms of travel insurance, and the sign up bonus is a paltry 40,000 points (although you may get a targeted offer for more). But if you already have a card, it’s a step in the right direction.
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