The Platinum Card® from American Express carries a hefty annual fee, but adding additional cardmembers has been one way to extract more value from the card (by using the two-player mode strategy). Earning the generous welcome bonus is another way to offset your costs in your first year with the card. Unfortunately, it’s now a bit harder to come out ahead with both of these strategies due to new changes that have just taken effect.
Why the Increased Amex Platinum Authorized User Fee Matters
American Express has increased the fee for authorized users of The Platinum Card® from American Express to $195 per person (terms apply, see rates & fees). At first glance the increase from $175 may not seem like much, but let’s look at the details to see why it’s significant.
Prior to this change, the fee was $175 for up to three authorized users. Any authorized users beyond that would cost $175 each. Now the fee is $195 for each authorized user. That means the cost for three authorized users will now cost a whopping $585 instead of the previous $175. This new fee has already been added to applications.
The authorized user benefit was a hidden sweet spot because each authorized user receives some of the most desirable benefits that applied to the primary cardholder. Authorized user benefits include:
- Lounge access: This includes both Centurion Lounge and the Priority Pass Lounge Networks. Centurion lounges are arguably some of the best in the U.S.
- The Hotel Collection: Cardholders can receive up to $100 in hotel experience credit. Hotel Collection requires a minimum two-night stay.
- TSA PreCheck or Global Entry credit: Get a statement credit of up to $100 to cover the application fee.
Welcome Bonus Spend Requirement Increase
The bonus for the Amex Platinum card varies from time to time, but the spend requirement to receive that bonus has remained at $6,000 for some time. Now you’ll need to spend more to receive the bonus, an increase of over 30%.
Right now, new cardholders can earn .
One small glimmer of good news is that the annual fee has remained unchanged, but it was already more expensive than most rewards cards at $695.
Digital Entertainment Credit Changes
The $240 Digital Entertainment credit includes the Wall Street Journal to eligible subscriptions that can be covered. This credit will continue to cover popular services like Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock and SiriusXM. Unfortunately, Audible will no longer be eligible for this credit after October 1, 2023.
Bottom Line
There’s no question that these changes sting. Most Amex Platinum cardholders will see this as a devaluation of benefits that already require some extra legwork. The road warriors among us may see a silver lining in the potential for reduced overcrowding at airport lounges, but there’s not much encouraging news here overall.
To view rates and fees for The Platinum Card® from American Express please visit .
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