Smart Travel: Upgrade Your Getaways

Episode: "Keep or Cut the Amex Platinum? What New Perks Mean for Frequent Travelers"

Hosts: Sally French & Meghan Coyle (NerdWallet Travel)
Date: September 18, 2025

Episode Overview

This episode takes a deep dive into the newly announced changes to the American Express Platinum Card, dissecting whether the steep $895 annual fee is actually worth it for frequent travelers. Sally and Meghan—both Amex Platinum cardholders—break down the new benefits and statement credits, compare the card to top competitors like Chase Sapphire Reserve and Capital One Venture X, and help listeners decide if the revamped Amex Platinum is a savvy choice for their travel lifestyle.

Key Discussion Points & Insights

1. Overview of Amex Platinum Changes

• Annual Fee Increase: The Amex Platinum’s annual fee is now $895 (up $200 from $695).
  • [07:08] “Wamp. Wamp. And it is now $895.” — Meghan
• Timing for Fee Increase:
  • Kicks in at your next renewal after January 2, 2026 (consumer cards only). [08:21]
  • Existing cardholders get the new perks now; new applicants pay the new fee immediately.

2. Breakdown of New & Enhanced Credits and Benefits

[08:57]

• Additions:

  • $400 Resy dining credit ($100 per quarter)
  • $300 Lululemon credit ($75 per quarter)
  • $200 Oura Ring credit
  • $120 Uber One membership
  • Complimentary Leaders Club Sterling status (Leading Hotels of the World)
  • $300 digital entertainment credit (up from $240)
  • $600 hotel credit ($300 twice a year, for Fine Hotels + Resorts and The Hotel Collection)

• Existing Credits Still Included:

  • Uber credit, airline fee credit, Saks Fifth Avenue credit, lounge access, $200 airline incidental credit, $300 Equinox credit, $209 Clear Plus credit

Sally [09:59]: “They did not take anything away. This is kind of different than what Chase did…American Express added more stuff.”

Deep Dive: Standout Credits/Benefits

• Lululemon Credit

  • [11:40] $300/year, distributed as $75/quarter; must enroll to activate.
  • Sally’s Take: “Yo, save with Sally would have also not pegged herself as a Lulu kind of girl. But…really the quality is quite good. I am sold. And now I swear by Lululemon.”
  • Meghan’s Add: “It’s a real treat for me…the $300 Lululemon credit…could generally cover…maybe a sports bra or like, three quarters of a pair of leggings. And…that’s literally just three quarters of the price.”

• Hotel Credit

  • [12:25] Increased to $600/year ($300 twice a year).
  • Restrictions: Two-night minimum required for The Hotel Collection, none for Fine Hotels & Resorts.
  • Additional perks: Room upgrades, property credits, breakfast, early check-in/late checkout.
  • Meghan: “You’ll be paying less out of pocket. But at the same time, you have to do that twice a year now. And I’m like, oh gosh…”

• Resy Dining Credit

  • [14:22] $400/year ($100/quarter) at over 10,000 US restaurants.
  • Sally: “So many more restaurants in Resy, and they are not all the super fancy ones…my neighborhood Thai spot is on there.”

• Digital Entertainment Credit

  • [18:29] Now includes YouTube Premium/TV, Paramount+, Disney+, Hulu, ESPN+, Peacock, New York Times, Wall Street Journal.
  • Must enroll to activate.

• Uber One & Uber Cash

  • [19:38] $120 Uber One credit + monthly Uber Cash. Noted as more valuable for city dwellers & frequent Uber users.

• Oura Ring Credit

  • [20:33] Up to $200 credit for Oura Ring purchase. Neither host currently uses Oura Ring; both prefer Fitbit.

• Other Ongoing Credits

  • [22:14] $200 airline fee, $209 Clear Plus, $300 Equinox, etc.
  • Cautions about “lifestyle creep” if a benefit doesn’t fit your routine.

3. The Math: Do the Credits Add Up?

• Sally’s Calculation [25:12]:

  • Resy Credit: $400
  • Lululemon: $300
  • Hotel: (values half) $300
  • Uber/Uber One & Airline credits: used fully
  • Total: Over $1,400 value, beating the $895 fee (not even including lounge access or all credit possibilities).
  • Memorable Quote: “I don't weigh in the cost of all the credits…But I do think the resi credit is super easy to use...So I really feel like I'm already ahead.”

• Meghan’s Calculation [27:33]:

  • “I think I’m at over $2,000 in value from using this because so many of these we already use…”

4. Lounge Access

• [26:06] Sally values airport lounge visits at $30–$50/visit (“almost always going to buy a meal at the airport”).
• Upcoming Centurion Lounges: Salt Lake City, Newark, Las Vegas’ speakeasy concept.

5. Comparing the Competition

• Chase Sapphire Reserve

  • $550 fee, $250 hotel credit (but two-night min), OpenTable dining credits more restrictive, newer/nicer lounges, better earnings on direct hotel bookings.
  • Sally: “The Chase lounges are nice. I will give them that.” [28:39]
  • Meghan: “Chase…has higher earnings on hotels booked directly.”

• Capital One Venture X

  • $395 fee, fewer benefits/credits, but strong lounge network.

• Point Redemption/Transfer

  • Amex: No Hyatt transfer. Each program’s points and transfer partners differ; not all require a premium fee card.

6. Who Should Get the Amex Platinum?

• Major city dwellers benefit most: Many credits (Resy, Equinox, lounges) concentrated in urban areas.
• People who already use the partner brands/services regularly—otherwise, overspending risk.
• Not ideal if your priority is maximizing points earned on non-travel spending.
  • Sally [33:14]: “If you were trying to max optimize for earning a ton of points, just make sure you check all of the options out there.”
• Existing cardholders get new credits now but won’t pay higher fee until 2026.

Notable Quotes & Memorable Moments

• Sally on Card Value Math
  [25:12]: “If I valued up all those, Megan, that is already at $1,400 in value against an $895 annual fee. So I really feel like I'm already ahead.”

• Meghan on Coupon Book Reputation
  [07:28]: “Unfortunately, the coupon book reputation is not going away. In fact, the argument is only strengthening.”

• On "Girl Math":
  [23:03] Sally: “With this credit and many credits, I always think, like, I'm not going to value it at the full $209 because I would not pay $209. But…maybe I would value it at $50. …You're allowed to do your own math.”

• Lifestyle Creep Caution
  [24:15]: “I do kind of get worried that people say, Well, I have $300 at Equinox, so I guess I'll sign up for an Equinox membership when there might be down the road. That's half the cost.”

• Final Take
  [33:54]: “If you are an existing cardholder, the new benefits do kick in now. So especially these quarterly credits. If you are listening to this the day the podcast airs, go to Lululemon right now and buy something so that way you get the credit for this quarter.”

Key Timestamps

| Time | Segment | |--------|---------------------------------------------------------------| | 01:40 | Start of content: Amex Platinum changes introduction | | 07:08 | Annual fee hike details | | 08:57 | Rundown of new (and ongoing) credits | | 10:20 | Detailed discussion of hottest new credits (Lululemon, hotel) | | 14:22 | Resy dining credit versus Chase’s Opentable credit | | 18:29 | Digital entertainment credit expansion | | 19:38 | Uber One and Uber Cash – who benefits most | | 20:33 | The Oura Ring credit – who will use? | | 22:14 | Recap of recurring credits and “coupon book” warnings | | 24:15 | Worries about lifestyle creep (Equinox as example) | | 25:12 | Sally and Meghan share their personal card “math” | | 26:06 | How they value lounge access visits | | 28:03 | Comparing Amex Platinum to Chase & Capital One | | 33:54 | Practical next steps for cardholders |

Summary Table: New Amex Platinum Card Credits

| Credit | Amount | Disbursement | Enrollment Required? | Notable Details | |------------------------------|-----------------|-------------------|---------------------|--------------------------------| | Resy Dining | $400/year | $100/quarter | Yes | 10k+ US restaurants | | Lululemon | $300/year | $75/quarter | Yes | Must enroll; cannot combine | | Hotel (Fine Hotels + Resorts/Hotel Collection) | $600/year | $300 x2 | Yes | 2-night min for Hotel Collection | | Oura Ring | $200/year | Lump sum | Yes | Health wearables | | Uber One | $120/year | Annual after sign-up| Yes | Ride discounts/credits | | Digital Entertainment | $300/year | $25/month | Yes | Expanded to more streaming | | Airline Fee | $200/year | Lump sum | Yes (pick airline) | Checked bags, other fees | | Uber Cash | $200/year | Monthly | Yes | Rides or Uber Eats | | Saks Fifth Avenue | [Ongoing] | Split | Yes | | | Equinox | $300/year | Lump sum | Yes | High-end gyms | | Clear Plus | $209/year | Lump sum | Yes | Airport/stadium security |

Listener Takeaways

• Be realistic: Only count credits you truly use—don’t get seduced by “coupon book” math.
• City-dwellers win: Many credits and perks most valuable in major metros.
• Compare for your needs: Chase, Capital One, and Amex all have strong but different offerings; the best choice depends on your habits.
• Evaluate annually: Credit card programs change—review yearly to maximize value and avoid wasted spend.
• Multiple cards may pay off: Many experts use more than one premium travel card to maximize perks.

Quick Decision Matrix

| Type of Traveler | Is Amex Platinum Worth It? | |-------------------------------|--------------------------------------------| | Urban, frequent flyer | Likely – maximize lounges, Uber, credits | | Rural, rare big city visits | Less likely – harder to use key benefits | | Points maximizer | Maybe not – consider earning structures | | Coupon “optimizer” | Yes – if you use credits faithfully |

Closing Advice:
"If you are an existing cardholder, jump on those new credits! But don’t let FOMO trick you into lifestyle creep—spend smart, not just to get ‘free’ benefits." (paraphrased)

Got feedback for the hosts or want to share your strategy?
Email: travelnerdball@.com or connect on TikTok/Instagram:

• @SaveWithSally
• @MilesWithMeghanCo

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