Is the Amex Plat worth it? First thoughts
Yes, yes it is. Only 2 weeks into opening the card, I’m on track to accrue $1,300 worth of perks with many more to go.
The full annual retail value of perks I’m taking advantage of right now:
- Uber credit — $200
- Digital Entertainment credit — $240
- Saks credit — $100
- Hotel credit — $200
- CLEAR Plus credit — $189
- FHR Program — $300
- Walmart+ — $155.40
Wait. I know what you’re thinking, that many of the perks are on benefits that I otherwise wouldn’t have spent money on like my Disney+ and Hulu bundle for $20/mo through the $240/year digital entertainment credit and you’d be right!
This is why I’ve calculated a “personal” value, a slightly subjective valuation BELOW retail value based on whether it’s something I was already spending money on in my life or if it’s something that I’m now spending money on BECAUSE I have the card.
What this means is that I’m not including a credit like $300 towards an Equinox membership because I’m simply not going to sign up for a gym that expensive (but if you do, then this has tremendous value).
What this DOES mean is that the $240/year digital entertainment credit I mentioned above is now adjusted down to $60/year because I value it at only 25% of the benefit to my life based on my streaming habits because I generally consume my streaming through Crunchyroll.
However, there are full-value perks like the $200 Uber credit, which applies to both rideshare Uber and Uber Eats. I do regularly spend money on rides and food pickup so value this at its full retail price.
After adjusting for my personal value, I’m on track to accrue $790 in perks, which is already above the $695 annual fee!
Stay tuned for an update on where I ended up after a year of with the Plat.
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