Whereas The Platinum Card® from American Specific presents many journey and life-style perks, it’s also one of the costly playing cards available on the market with an annual payment of $695 per 12 months (see charges and costs). Plus, Amex is predicted to revamp its premium card in 2025, and a better annual payment might include it.
In the meantime, slotted beneath the Amex Platinum is the American Specific® Gold Card, a product that carries fewer advantages however a extra palatable $325 annual payment (see charges and costs). Each playing cards supply quite a lot of assertion credit and perks to assist offset their yearly charges.
Each cardholder has their very own causes for contemplating a downgrade, and the Amex Platinum is one card I contemplate downgrading from typically. From a Walmart+ membership to Equinox credit, a laundry checklist of perks was launched to lend the cardboard much more potential worth (enrollment required for choose advantages).
Whereas the advantages are undoubtedly nice, there may be additionally some extent at which amount trumps high quality, particularly when contemplating an annual payment of practically $700.
In case you’re enthusiastic about a downgrade from the Amex Platinum Card, listed here are three causes emigrate to the Amex Gold Card and the best way to do it to maximise your factors potential.
Fast comparability of Amex Platinum vs. Amex Gold
This is how the Amex Platinum and Amex Gold playing cards stack up.
| Card | Amex Platinum | Amex Gold |
|---|---|---|
| Annual payment | $695 | $325 |
| Incomes charges |
|
|
| Welcome supply | Discover out your supply and see in case you are eligible to earn as excessive as 175,000 Membership Rewards Factors after spending $8,000 on purchases inside the first six months of card membership. Welcome presents differ, and also you is probably not eligible for a proposal. | Earn 60,000 factors after spending $6,000 in your new card within the first six months of card membership. |
| Constructed-in credit |
Enrollment is required for choose advantages. |
Enrollment is required for choose advantages. |
| Lounge entry | Entry to the American Specific World Lounge Assortment, which incorporates Centurion Lounges, Precedence Move, Plaza Premium and Escape lounges, together with Delta Sky Golf equipment on same-day flights. (Restricted to 10 visits to SkyClubs per 12 months. Limitless visits might be unlocked by spending $75,000 in a calendar 12 months.)
Enrollment is required for choose advantages. |
None |
| Resort standing | Complimentary Gold standing with the Hilton Honors and Marriott Bonvoy loyalty packages
Enrollment is required for choose advantages. |
None |
| Cellphone safety** | As much as two claims; $800 per declare, as much as $1,600 per 12-month interval; $50 deductible | None |
| Journey interruption, cancellation and delay protection** | Journey interruption/cancellation: $10,000 per journey, most of $20,000 per account per 12-month interval
Journey delay: As much as $500 per journey when the delay is six or extra hours; as much as two claims per 12-month interval |
Journey interruption/cancellation: None
Journey delay: As much as $300 per journey when the delay is 12 or extra hours; as much as two claims per 12-month interval |
| Concierge | Devoted Platinum concierge | Customary Amex concierge service |
*Your Amex Platinum or Amex Gold have to be added to the Uber account, and you may redeem with any Amex card; solely legitimate on U.S. purchases.
**Eligibility and profit degree varies by card. Phrases, circumstances and limitations apply. Go to americanexpress.com/benefitsguide for particulars. Insurance policies are underwritten by New Hampshire Insurance coverage Firm, an AIG Firm.
Why you would possibly downgrade to the Amex Gold
You do not wish to take care of so many credit
The Amex Platinum has a plethora of annual assertion credit that span quite a lot of classes from procuring (Walmart+ subscription) to journey (up-to-$200 airline payment credit score) and far, rather more.
Each day E-newsletter
Reward your inbox with the TPG Each day publication
Be part of over 700,000 readers for breaking information, in-depth guides and unique offers from TPG’s specialists
Informal Amex Platinum customers ought to, due to this fact, take a better take a look at what these credit are. It is clear from the particular nature of a number of of those perks that many cardholders won’t be able to totally make the most of all of them. With an annual payment of $695, you will wish to not less than use a number of with out having to exit of your method.
There are not less than 10 credit on the Amex Platinum. 4 are yearly, 4 are month-to-month, one is biannual and one is each 4 1/2 years. The annual credit are for Clear Plus, pay as you go inns, Equinox, SoulCycle and airline charges; the month-to-month credit are for digital leisure, Walmart+ and Uber Money; the biannual credit score is for Saks Fifth Avenue; and the credit score for a World Entry/TSA PreCheck enrollment payment is each 4 1/2 years.
In the meantime, the Amex Gold Card has 5 assertion credit — three month-to-month and two biannual.
It is usually price noting that various credit for each the Amex Platinum and the Amex Gold require enrollment earlier than you need to use them.
Associated: Does it make sense to carry an Amex Platinum and Amex Gold Card?
You do not want airport lounge entry or lodge elite standing
A number of different Amex Platinum journey perks additionally present vital worth that may’t be pegged to particular greenback quantities. However for extra informal vacationers, these perks won’t be of a lot use.
For instance, you will get one of the complete airport lounge memberships with the Amex Platinum. Particularly, you will take pleasure in Precedence Move Choose (enrollment required), entry to Amex’s ever-growing assortment of Centurion Lounges and entry to Delta Sky Golf equipment when flying Delta Air Traces. (Cardmembers will obtain 10 visits per 12 months to Delta Sky Golf equipment or to grab-and-go golf equipment when touring on a same-day Delta-operated flight with the flexibility to unlock limitless by spending $75,000 in a calendar 12 months.)
That makes the Amex Platinum probably the greatest playing cards for airport lounge entry. Platinum cardholders may register for Gold elite standing with each Marriott and Hilton and even enlist the assistance of premium concierge companies.
Nevertheless, the Amex Gold could be a greater match if all of those journey facilities appear superfluous.
You care extra about incomes factors for on a regular basis spending
The Amex Platinum excels in some ways, however incomes on on a regular basis spending is just not one among them. Incomes 1 level per greenback spent on all purchases apart from eligible airfare booked with American Specific Journey or straight by way of the airways for five factors per greenback (as much as $500,000 spent each calendar 12 months, then 1 level per greenback) and inns booked with American Specific Journey, which earns 5 factors per greenback and has no spending cap, would not make it a profitable card to hold each day.
In the meantime, the Amex Gold earns 4 factors per greenback spent at eating places (on as much as $50,000, then 1 per greenback level thereafter) worldwide and supermarkets within the U.S. (on as much as $25,000, then 1 level per greenback thereafter), the place a big portion of the standard family’s spending goes every month.
Incomes 3 factors per greenback spent on airfare clearly is not 5 factors per greenback, but it surely means you aren’t fully lacking out on potential rewards when carrying the Amex Gold.
Associated: 8 methods to benefit from the Amex Gold Card
The way to ‘downgrade’ to the Amex Gold
Let’s begin by making one factor clear: In case you determine to downgrade your Amex Platinum, you would possibly wish to shut it outright after which open a brand new Amex Gold relatively than straight requesting a downgrade to the Gold. Why? Nicely, as a result of with Amex, a card product change is not going to qualify you for the welcome supply on the cardboard, and also you doubtless do not wish to miss out on that.
The technique
At present, the Amex Gold Card is providing a welcome bonus of 60,000 Membership Rewards factors after you spend $6,000 in your new card in your first six months of card membership.
This bonus is price one other $1,200 based mostly on TPG’s June 2025 valuations.
Notice you could often solely earn the welcome bonus on any Amex card as soon as per lifetime, so in the event you’ve earned the bonus on the Amex Gold earlier than, you will most likely be out of luck. And whereas Amex would not formally require you to carry a card for a sure interval earlier than downgrading it, it is best to doubtless wait not less than one full 12 months earlier than canceling or downgrading the Amex Platinum.
One other various is to downgrade your Amex Platinum to the American Specific® Inexperienced Card since Amex Platinum, Gold and Inexperienced playing cards are all thought of to be inside the identical card household. When you try this, you’ll be able to apply for the Amex Gold outright. (However in fact, meaning you continue to have two playing cards.)
The knowledge for the Amex Inexperienced Card has been collected independently by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or supplied by the cardboard issuer.
Retention presents
Earlier than making a last resolution on whether or not to cancel or downgrade your Platinum, it’s positively worthwhile to present Amex a name (or reside chat) when your annual payment is because of see in the event you’re focused for a retention supply. These presents are basically Amex’s last-ditch effort to retain you as a cardholder. Ask to be transferred to the Amex retention line once you name and to talk with somebody from that division.
Prior to now, I’ve obtained 20,000 Membership Rewards factors only for retaining my card open for one more 12 months.
Backside line
Downgrading from the Amex Platinum to the Amex Gold could also be an excellent choice for some cardholders. In case you solely wish to pay one annual payment, you’ll be able to body the query as follows: Would you like increased on a regular basis incomes charges on a greater variety of classes? Or, would you like precious journey and life-style perks that can add luxurious to your upcoming journey?
If the primary choice sounds such as you, then the Amex Gold could also be a greater match. But when the second situation aligns along with your wants, chances are you’ll wish to preserve the Amex Platinum.
Nevertheless, know that there’s room for each of those playing cards in your pockets. In truth, the Amex Gold and the Amex Platinum complement one another very properly as a part of the Amex Trifecta.
Apply right here: American Specific Gold Card
Apply right here: The Amex Platinum
For charges and costs of the Amex Platinum, click on right here.
For charges and costs of the Amex Gold, click on right here.
