After dropping their bonus to a measly 2,000 Membership Rewards points a couple of weeks ago, American Express has reintroduced a decent bonus for taking out their American Express Platinum Charge card. The bonus is now 35,000 Membership Reward points. This is still some way off the previous best of 52,000 points, but is still a very good deal.
It looks like Amex is testing the market, to see what level of bonus they need to offer to entice people to take the card and its benefits, albeit for a fairly hefty £450 per year charge.
You can find out more details on the card here.
The bonus for being referred for the British Airways American Express Premium Plus Card has been reduced to 19,000 Avios from today. This is still a good deal, but not quite as good as the 26,000 Avios being offered last week. I have updated the Credit Card Offers page to reflect the change.
Debenhams and Fenwick have today joined the American Express and Foursquare offer I wrote about earlier this week. In both cases, you get a £25 for spending £50 in each store. As explained in my previous post, you can create and sync each American Express (and supplementary card) to its own Foursquare account (creating new ones as required) and you’ll get a £25 statement credit for each £50 spend on each card.
If there is nothing specific you want to buy in store, the recommendation is to get a gift-card and top it up with £50 with each of your Amex cards – you can then buy whatever you want beyond the end date of the offer (March) and effectively get a 50% discount on all purchases up to the value of the gift cards you buy or top-up.
If you do not already have an American Express card, now would be a good time to apply for one, to maximise your benefits in this offer, and to use in the many regular offers that arrive with theses cards.
As we reported last week, Amex has increased the annual fee on its Platinum Charge card by 50% to an eye-watering £450 per year!
There are apparently a whole swathe of new benefits coming with the card, rumoured to be things like a free round of golf or 6 guest Priority Pass vouchers, but Amex will have to do better than that to make this increase worthwhile to most people, particularly since the changes to the insurance benefits at the end of last year.
We still believe it is worth new cardholders applying for the card to earn the 42,000 Membership Reward points, and once they have the points in their account, cancel the card to receive a pro-rata refund on the annual fee, but people should think long and hard as to whether this card is one they want to keep year-on-year.