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.
Want to earn more points from credit cards? – September 2022 update
If you are looking to apply for a new credit card, here are our top recommendations based on the current sign-up bonuses.
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
You can see our full directory of all UK cards which earn airline or hotel points here. Here are the best of the other deals currently available.
EDIT: Until 25th October 2022, there is an exceptionally generous sign-up bonus on The Platinum Card. You will receive 60,000 Membership Rewards points – double the usual amount – and £200 to spend at Amex Travel. You need to spend £6,000 within six months to earn the bonus.
British Airways American Express Premium Plus
25,000 Avios and the UK’s most valuable card perk – the 2-4-1 voucher Read our full review
American Express Preferred Rewards Gold
Your best beginner’s card – 20,000 points, FREE for a year & two airport lounge passes Read our full review
The Platinum Card from American Express
60,000 points, £200 travel credit and an unbeatable set of travel benefits – for a fee Read our full review
Virgin Atlantic Reward+ Mastercard
15,000 points bonus and 1.5 points for every £1 you spend Read our full review
Earning miles and points from small business cards
If you are a sole trader or run a small company, you may also want to check out these offers:
American Express Business Platinum
40,000 points sign-up bonus and a long list of travel benefits Read our full review
American Express Business Gold
20,000 points sign-up bonus and free for a year Read our full review
British Airways Accelerating Business American Express
30,000 Avios sign-up bonus – plus annual bonuses of up to 30,000 Avios Read our full review
Capital On Tap Business Rewards Visa
50,000 points bonus until 2nd October – the most generous Avios Visa for a limited company Read our full review
For a non-American Express option, we also recommend the Barclaycard Select Cashback card for sole traders and small businesses. It is FREE and you receive 1% cashback on your spending.