Why The End of the Year is the Best Time to Get the AmEx Platinum

If you’ve been eyeing the American Express Platinum Card®, December may still be the best time to take the plunge — even with recent changes to the annual fee. The luxury card now has an annual fee of $895, but it also comes with enhanced benefits worth more than $3,500 annually (see rates and fees).

To some, the card can feel like a bougie coupon book given its long list of statement credits. But because those credits renew every calendar year, those coupons can carry serious value if you receive your new card in December. Here’s why.

1. Statement credits reset in January

Many of the most valuable credits on the American Express Platinum Card® refresh on Jan. 1. That means by paying one annual fee, you could get up to three $300 hotel credits and up to $400 towards airline incidental fees if you maxed out those benefits.

Some of the credits that reset in January include:

• $300 semi-annual hotel credit. This AmEx hotel credit applies to prepaid bookings through American Express' travel portal at the more than 3,100 hotels that are part of The Hotel Collection (two-night minimum stay required) or Fine Hotels + Resorts properties. With this perk, eligible bookings must be processed before Dec. 31 at 11:59 p.m. CT to be eligible for statement credits for that half of the year.

• $200 a year for airline incidental fees.* This credit, also offered each calendar year, reimburses you for things like checked-bag fees or in-flight refreshments on a single airline you choose when you enroll (though you can change airlines once a year). You’d have to fly before the end of the year to use this credit (and from there, you’d have to incur some eligible expenses like checking bags).

• $100 per quarter for Resy: Charge your meal at any of the 10,000+ Resy restaurants in the U.S. to your card for a statement credit — perfect for dining out. This credit resets each quarter of the calendar year.

Terms apply. Enrollment required.

The statement credits cited above alone could be worth about $800 in value if used fully.

2. Potential for three years of credits in one annual fee

Receiving your card in December theoretically lets you unlock three years’ worth of the annual credits listed above within your first cardholder year. Here’s how that could work:

• Use your 2025 credits in December.

• Use 2026 credits starting Jan. 1, 2026.

• Use January 2027 credits before your annual fee comes due. Although your annual fee will be billed in December (if that’s the month you applied), the payment for that bill might not be due until January or February, based on when the charge hits.

To be sure, those aren’t the only credits available to cardholders. The card offers other statement credits at brands like Uber, Equinox and Saks Fifth Avenue which combined are worth more than $3,500 annually, but many of those credits reset on a monthly, rather than yearly, basis. Check out NerdWallet’s list of the dozens of credits available on the American Express Platinum Card®. Enrollment required.

3. Credits for holiday gifts

You might be able to use some of the card's credits to purchase a gift for someone else during the holiday season.

• $50 at Saks, twice a year: There’s a $50 Saks Fifth Avenue available twice a year (cardholders receive up to a $50 statement credit from January through June and up to a $50 statement credit from July through December for a total of $100 per calendar year). Even if Saks isn’t your style, it could be the style of another person on your gift list. Enrollment required. Terms apply.

• $75 per quarter at Lululemon stores or online: This $300 Lululemon credit is offered up as $75 per quarter. That's roughly a pair of their cult-favorite leggings every few months — perfect for the fitness enthusiasts on your gift list.

• $200 Oura Ring credit: This is an annual credit toward the purchase of an Oura Ring, which is a health tracker that's been trending among wellness enthusiasts. Give the gift of better sleep insights without the full sticker shock.

Additionally, cardholders receive a statement credit for a monthly Walmart+ membership fee, which is worth up to $12.95, plus applicable taxes. Even if you wouldn’t pay the Walmart+ membership fee, its benefits could help out in a pinch when doing last-minute holiday shopping. Enrollment required. Terms apply.

4. Lounge access and CLEAR+ membership for holiday travel

American Express Platinum Card®'s travel benefits can come in handy during peak airport travel times like the holidays. Perks like access to Centurion Lounges and other lounges in the Global Lounge Collection, plus Global Entry/TSA PreCheck credits and the CLEAR+ membership credit, make the airport experience a little bit calmer.

With this card, you’ll likely spend less time in lines than everyone else. And if you’re stuck in the airport longer than anticipated — either because you arrived extra early, or you’re waiting out a flight delay — then sticking it out in a lounge can turn long waits into a welcome pause.

5. A welcome offer to start your rewards stash strong

The American Express Platinum Card® is offering the following welcome bonus right now: You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.

By applying in December, you can leverage holiday spending (like gifts and travel bookings) to meet that threshold more easily than you might otherwise during other times of the year.