How to Maximize the AmEx Platinum Hotel Credit

The Platinum Card® from American Express just increased its hotel credit in a big way following an annual fee hike.

Now, you’ll get $600 in statement credits per calendar year — split into two parts — when booking hotels via the Fine Hotels & Resorts (FHR) or The Hotel Collection travel portal. Terms apply. There is no enrollment required for the hotel statement credits.

You can also get this credit on The Business Platinum Card® from American Express now, too; previously, it wasn't offered.

These credits can go a long way in justifying these premium card annual fees — as long as you remember to use them. Here’s what to know.

» Learn more: Benefits of The Platinum Card® from American Express

How does the $600 AmEx Platinum hotel credit work?

The $600 hotel credit is an annual benefit on The Platinum Card® from American Express and The Business Platinum Card® from American Express. It appears as a statement credit after making a qualifying reservation. Terms apply.

The statement credit is split into two $300 credits: one to use in the first half of the year and the other to use in the second half of the year. This means you can’t take a $600 discount off of one stay. But if you plan your travel with these credits in mind, you can get a lot of value from them.

For a reservation to be eligible, you must prepay for the stay when booking (rather than at the hotel) and complete the transaction for the Fine Hotels and Resorts or The Hotel Collection stay using the American Express travel portal and paying with your American Express credit card. You can also make a reservation by calling American Express directly. It is possible to benefit from the statement credit, even if you pay for your reservation with points. The Pay With Points option can help you to save even more money.

One key consideration for booking a hotel from The Hotel Collection: the stay must be at least two nights.

After the reservation is made, the statement credit typically appears a few days later (although it can take as many as 90 days). If you have an additional cardholder on your account, they could take advantage of this travel credit, but the statement credit would post to the basic card member’s account.

All the perks of an FHR booking are available when using your statement credit, too.

Those perks include:

• Noon check-in (when available).

• Guaranteed 4 p.m. late checkout (FHR) or late checkout when available (THC).

• Space-available room upgrade.

• Daily breakfast for two people (FHR).

• Complimentary Wi-Fi.

• $100 credit toward eligible charges (including dining, spa or bar charges, depending on the hotel).

How do you book a hotel stay through the AmEx Travel portal?

To take advantage of this credit, eligible cardholders must log into AmexTravel.com and use their associated credit card.

Search for your destination using your dates to see which hotels are available. You can pay with cash or points, but it's not the best redemption option. You can generally get more value from your points when transferring them to AmEx’s travel partners.

Since the American Express travel portal includes a wide variety of hotels, it is possible to filter down to properties eligible for the statement credit. Click the boxes in the sidebar under “Hotel Programs,” as seen in the image below.

When using The Platinum Card® from American Express or The Business Platinum Card® from American Express to book a prepaid hotel on AmExTravel.com, cardholders will earn 5 Membership Rewards points per dollar spent. Terms apply.

How to get the most value

Stay at special, bucket list properties

If you belong to loyalty programs like Marriott Bonvoy, you may prefer to not use this credit on a stay at a St. Regis or Ritz-Carlton, for example, since you can redeem points for a stay there. You may prefer to use this credit instead for properties that are unaffiliated with a loyalty program. Are there any bucket list, independent hotels that may have been a splurge? Maybe this statement credit can put those more closely in reach.

Don’t forget about hotel elite status and points earning

If you're using this credit at a hotel that has a loyalty program, keep in mind there is no guarantee that you will earn points, status qualifications or elite status perks when booking a stay through AmEx Travel.

To get these benefits, most programs require you to book directly through their own channels. It is best to contact the hotel to check in advance. Some of them make an exception and provide traditional loyalty points and perks for these bookings.

» Learn more: The best hotel elite status programs this year

Compare prices — and perks

FHR and THC reservations are often more expensive than what you might find on a hotel’s own website. But when you take into account the slew of benefits (like a $100 credit or a potential room upgrade) and the ability to use your AmEx statement credits, it could be more economical.

Let’s take a look at the price for the base room type on the same nights for the Park Hyatt Beaver Creek Resort & Spa. When booked via Hyatt, the rate is $879.62, including taxes and fees.

But when booked through the AmEx travel portal, the total is $962.50. While that is an $83 difference, the $100 on-property credit you’ll get more than makes up for that. Plus, you’ll get breakfast, a room upgrade (when available) and late checkout. And if you use your card’s semi-annual $300 hotel credit, the savings are even greater. (Terms apply.)

Now, if you are a World of Hyatt elite member, you may already receive some perks plus elite status credits when booking directly with Hyatt. If those are important to you, contact the hotel before making a booking through FHR to see if you would still get those perks. You just might be able to take advantage of both programs!

» Learn more: Best American Express credit cards

Use the entire credit

If your hotel stay is under $300 and you have future travel plans, don’t forget about using the remaining balance for another booking to maximize this travel credit perk. And don’t forget that you get $300 to use in the first half of the year and another $300 for the second half. You can track how much credit you have left to use by logging into your American Express account and heading to the benefits section.

You can even consider making a hotel reservation for the following year if you have not been able to use your credit before it expires. Just make sure that the transaction posts to your account before Dec. 31 of the current year so that you earn the statement credit.

Maximize that $600 hotel credit

AmEx's new $600 hotel credit can represent significant savings. Just be sure to use your eligible credit card to make a reservation via the AmEx travel portal before it expires.