Key link: American Express Platinum card home page
This is a ‘final boarding call’ for anyone thinking of applying for the American Express Platinum charge card.
The Amex website has been saying for a couple of weeks that the 50,000 Membership Rewards points offer will end on 3rd March.
My best guess – and I honestly don’t know – is that it will drop back to 40,000 points, which is what it was until last Autumn.
50,000 Membership Rewards points (good for 50,000 Avios or various other things) is a great deal.
Whilst the card does carry a £450 annual fee, you can cancel this for a pro-rata refund as soon as you have spend the £2,000 necessary to get the bonus points. This pro-rata refund is in the terms and conditions of the card (paragraph 18.2 to be precise) so you will have no problem getting it.
So, if you meet the £40,000 household income requirement and have not had a Platinum, Gold or Green Amex in the last six months, you need to decide whether to go for it before the deadline.
Cancel within 3 months, and your net fee will only have been (3/12ths of £450) £112 – a fantastic deal for 50,000 Avios!
However, the Platinum card has some great benefits – Cathay Pacific Gold card (= BA Silver and gets you into BA lounges), Starwood Gold, Club Carlson Gold, Accor Platinum (EDIT – initially said Gold by mistake), 2 Priority Passes for lounge access when not flying BA etc – and you may decide that it is well worth keeping once you have got used to the benefits. I have had once since 1999.
(To see our complete list of all current credit card bonuses, click here to visit our ‘Credit Cards Update’ page or use the link in the menu bar at the top of the page.)