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AmEx Platinum Boosts Sign-Up Bonus 50%

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american express platinum

The new version of The Platinum Card® from American Express is here, and it’s better than expected.

A month ago, American Express announced a slew of new perks — including $200 a year in Uber credits — and a higher annual fee for the premium card. These changes debuted today, as planned.

But then — surprise! — the issuer also boosted its sign-up bonus by 50%. The new bonus: Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months. Terms Apply. Previously, the bonus was 40,000 points. The change increases the card’s bonus value by $200, based on NerdWallet’s valuationsYou may be able to pre-qualify for a larger sign-up bonus through NerdWallet’s prequalification tool.

The change does two things for the gussied-up version of The Platinum Card® from American Express: It makes the increased $550 annual fee easier to stomach, and it makes the card more competitive with the Chase Sapphire Reserve℠, Chase’s popular premium card, released last year.

For most frequent travelers, the Chase Sapphire Reserve℠ still offers better value. Its sign-up bonus is worth $750, when redeemed for travel through Chase. The Platinum Card® from American Express’s sign-up bonus is worth $600, according to NerdWallet’s valuations. But if you love traveling in luxury, the new benefits on The Platinum Card® from American Express make it worth considering. See our updated review of The Platinum Card® from American Express for more information.

HEAR IT FROM NERDS WHO CARRY THE CARD

NerdWallet team members who carry The Platinum Card® from American Express say using the perks is the key to getting your money’s worth:

Information related to the Chase Sapphire Reserve℠ has been collected by NerdWallet and has not been reviewed or provided by the issuer of this card.

Claire Tsosie is a staff writer at NerdWallet, a personal finance website. Email: claire@nerdwallet.com. Twitter: @ideclaire7.