The Amex Platinum just went through a big refresh — higher fee, bigger pile of credits, and more “value” if you’re the type who enjoys spreadsheets. But while the headlines scream about Oura rings and $895 annual fees, let’s take a look at the real winners of this refresh.
Bargain Hunters on eBay & Poshmark
When every Platinum holder suddenly gets $300 to spend at Lululemon and another $200 at Oura, you know what’s going to happen. Half of that stuff is going straight to resale. If you’ve ever wanted discounted yoga pants or a sleep-tracking ring still in the box, keep an eye on the secondary market. The winners? Shoppers who never had to touch an Amex card to cash in.
Return Desk Junkies
Some cardholders will buy first, think later. Then they’ll march back to Lululemon with returns and walk out with a shiny gift card instead. For people who treat store returns like a side hustle, Amex just gave them a whole new reason to hang out at the mall.
Uber
Amex is covering $120 in Uber One subscriptions per year. Translation: Uber gets paying members without spending a dime, plus more people hooked into their ecosystem ordering rides and pad thai at midnight “because it’s free.” Even if there’s some cost-sharing behind the scenes, Uber still walks away with the win.
Expensive Hotels
The $200 hotel credit used to mean a single night at a Fine Hotels + Resorts property. Now it’s $600, split into two $300 chunks. For cardholders, that’s either one flashy night at a luxury hotel or two nights at a less-expensive The Hotel Collection property. Either way, the hotels win: they get paid full Amex-Travel rates, while Platinum members get to strut out with free breakfast and late checkout bragging rights.
Travel Bloggers
Every time Amex makes the Platinum more complicated, the internet lights up with breakdowns, hacks, and “how to actually use this” guides. More confusion = more pageviews. So yes, we’re winners too.
Amex
And of course, the final winner is Amex itself. They managed to hike the annual fee, throw in a pile of credits that some will love and others will find exhausting, and steal thunder from Chase and Citi’s premium cards. They keep the Platinum top of mind, and cardholders keep paying more for the privilege of playing the credit-juggling game. That’s the definition of winning.
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