Whereas The Platinum Card® from American Categorical gives many journey and way of life perks, it is usually one of the crucial costly playing cards in the marketplace with an annual price of $695 per yr (see charges and charges). Plus, Amex is anticipated to revamp its premium card in 2025, and the next annual price might include it.
In the meantime, slotted beneath the Amex Platinum is the American Categorical® Gold Card, a product that carries fewer advantages however a extra palatable $325 annual price (see charges and charges). 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 usually. 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’s additionally some extent at which amount trumps high quality, particularly when contemplating an annual price of almost $700.
When you’re interested by a downgrade from the Amex Platinum Card, listed here are three causes emigrate to the Amex Gold Card and find out how 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 price | $695 | $325 |
| Incomes charges |
|
|
| Welcome supply | Discover out your supply and see if you’re 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 gives fluctuate, and also you will not be 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 Categorical 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 yr. Limitless visits will be unlocked by spending $75,000 in a calendar yr.)
Enrollment is required for choose advantages. |
None |
| Lodge standing | Complimentary Gold standing with the Hilton Honors and Marriott Bonvoy loyalty applications
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 | Commonplace Amex concierge service |
*Your Amex Platinum or Amex Gold have to be added to the Uber account, and you’ll redeem with any Amex card; solely legitimate on U.S. purchases.
**Eligibility and profit degree varies by card. Phrases, situations 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 buying (Walmart+ subscription) to journey (up-to-$200 airline price credit score) and far, way more.
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Informal Amex Platinum customers ought to, subsequently, take a better have a look at what these credit are. It is clear from the precise nature of a number of of those perks that many cardholders will be unable to completely make the most of all of them. With an annual price of $695, you may wish to a minimum of use a number of with out having to exit of your manner.
There are a minimum of 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 motels, 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 price 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 should 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 important 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 may get one of the crucial complete airport lounge memberships with the Amex Platinum. Particularly, you may get pleasure from 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 yr 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 yr.)
That makes the Amex Platinum among the best 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 is likely to 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 considered one of them. Incomes 1 level per greenback spent on all purchases except for eligible airfare booked with American Categorical Journey or immediately by the airways for five factors per greenback (as much as $500,000 spent each calendar yr, then 1 level per greenback) and motels booked with American Categorical Journey, which earns 5 factors per greenback and has no spending cap, does not make it a profitable card to hold on daily basis.
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 everyday family’s spending goes every month.
Incomes 3 factors per greenback spent on airfare clearly is not 5 factors per greenback, however it means you aren’t fully lacking out on potential rewards when carrying the Amex Gold.
Associated: 8 methods to profit from the Amex Gold Card
The best way to ‘downgrade’ to the Amex Gold
Let’s begin by making one factor clear: When you resolve to downgrade your Amex Platinum, you would possibly wish to shut it outright after which open a brand new Amex Gold reasonably than immediately 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 probably 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.
Observe you can 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 may in all probability be out of luck. And whereas Amex does not formally require you to carry a card for a sure interval earlier than downgrading it, you need to probably wait a minimum of one full yr earlier than canceling or downgrading the Amex Platinum.
One other various is to downgrade your Amex Platinum to the American Categorical® Inexperienced Card since Amex Platinum, Gold and Inexperienced playing cards are all thought of to be inside the similar card household. When you try this, you’ll be able to apply for the Amex Gold outright. (However after all, which means 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 offered by the cardboard issuer.
Retention gives
Earlier than making a remaining determination on whether or not to cancel or downgrade your Platinum, it’s undoubtedly worthwhile to offer Amex a name (or reside chat) when your annual price is because of see in the event you’re focused for a retention supply. These gives are primarily Amex’s last-ditch effort to retain you as a cardholder. Ask to be transferred to the Amex retention line while you name and to talk with somebody from that division.
Up to now, I’ve acquired 20,000 Membership Rewards factors only for protecting my card open for one more yr.
Backside line
Downgrading from the Amex Platinum to the Amex Gold could also be a very good possibility for some cardholders. When you solely wish to pay one annual price, you’ll be able to body the query as follows: Would you like greater on a regular basis incomes charges on a greater variety of classes? Or, would you like priceless journey and way of life perks that may add luxurious to your upcoming journey?
If the primary possibility sounds such as you, then the Amex Gold could also be a greater match. But when the second state of affairs aligns together 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 reality, the Amex Gold and the Amex Platinum complement one another very effectively as a part of the Amex Trifecta.
Apply right here: American Categorical Gold Card
Apply right here: The Amex Platinum
For charges and charges of the Amex Platinum, click on right here.
For charges and charges of the Amex Gold, click on right here.
