The Platinum Card® from American Express increased its sign up bonus yesterday by now offering Amazon Prime for one year to new card members who meet the minimum spending requirement of $2,000 in the first three months.
The year of Amazon Prime is in addition to the normal benefits of the card:
- 25,000 bonus Membership Rewards after spending $2,000 in the first three months (enough for a roundtrip from the west coast to Hawaii). Membership Rewards transfer to 17 airlines.
- $200 per calendar year in airline fee credits ($400 in statement credits in the first twelve months of card membership since that will fall over two calendar years)
- $100 statement credit for the Global Entry application fee
- Lounge access to Delta, American, US Airways, and Priority Pass lounges
- Gold Status with Starwood Preferred Guest and Hilton (free internet and breakfast)
- These and several other major benefits are described in detail–including how to activate those that aren’t automatic–in Get the Most Out of Your American Express Platinum Card. Combined I think the benefits easily outweigh the $450 annual fee.
Amazon Prime is a $79-per-year service that has three major benefits:
- Free two-day shipping from amazon.com on millions of items with no minimum order size.
- Unlimited streaming of thousands of movies and TV shows with Prime Instant Video (a Netflix competitor)
- The ability to borrow a Kindle book for free each month
If you maximize all the benefits of a new Platinum Card® from American Express–and you really value lounge access at airports–I can easily see a new card holder getting $1,000 or more in value from the benefits in the first 12 months, not even including the 25,000 bonus Membership Rewards, which are worth another $500 to me. (See here for great transfer ideas.)