American Express is removing the $400 annual travel credit that comes with its Amex Platinum Reserve credit card in Australia.
The change will apply to new Amex Platinum Reserve cardholders that are approved on or after 26 August 2020. From this date, new Platinum Reserve card members will no longer receive the current $400 travel credit each year.
To compensate, new Amex Platinum Reserve cardholders approved after 26 August 2020 will be able to earn points at a slightly higher rate. The earn rate for this card will increase from 2 to 2.25 Amex Membership Rewards Ascent Premium points per dollar. That’s equivalent to an increase from 1 to 1.125 airline miles per $1 spent on the card, and brings it in line with the Amex Platinum charge card’s earning rate.
An American Express spokesperson confirmed to Australian Frequent Flyer that existing Amex Platinum Reserve cardholders will not be affected by the change. Existing customers, and those who are approved for a new Platinum Reserve card before Wednesday 26 August, will continue to receive the $400 annual travel credit.
American Express offers the Platinum Reserve credit card as a complimentary companion to its Platinum and invitation-only Centurion charge cards. Anyone with an Amex Platinum or Centurion card can apply for the Platinum Reserve credit card at no cost, and enjoy the benefits of this card in addition to the usual benefits that come with their charge cards.
The $1,450/year Amex Platinum card comes with a $450 travel credit of its own. This can be used to book flights, hotels, car hire or almost any other type of travel via the American Express travel portal.
Currently, many Amex Platinum cardholders choose to apply for the free Platinum Reserve companion card as well because this comes with an additional $400 travel credit. This effectively increases the total travel credit amount to $850 – substantially offsetting the $1,450 annual fee of the Amex Platinum card.
Amex Platinum Reserve applicants approved before 26 August 2020 will still receive the $400 travel credit each year. So if you currently have an Amex Platinum or Centurion charge card, and would like to apply for a Platinum Reserve credit card, be sure to apply as soon as possible!
Join the discussion on the Australian Frequent Flyer forum: Platinum Charge Companion Card change
