00:00 Speaker A
And from FedEx to AMX, the Platinum card is getting a major update along with a hefty new annual fee. For more, we’re bringing in Yahoo Finance senior writer, Ben Walker. Ben, walk us through it.
00:07 Ben Walker
Hey, how’s it going? Thanks for having me. Yes, so the MX Platinum is has just gotten a major refresh and this is a super popular card for people who like travel credit cards. Um, some of the new benefits are are really standouts and I think they can provide a lot of value to MX Platinum card holders who are looking to offset that new hefty annual fee like you said.
00:41 Ben Walker
Um, before I go any further though, I do want to say that a lot of these benefits require you to enroll in them before you can use them. So it’s important to go into your online account and enroll in these benefits. Um, but the first standout credit I want to mention is that you can receive up to $600 in hotel credit each year. So that’s up to $300 twice a year on eligible fine hotels and resorts or the hotel collection bookings made through AMX Travel.
01:14 Ben Walker
So, if you have upcoming trips, this benefit can help cover some of your lodging expenses. Uh, the next credit is up to $400 in Resi credit. So that’s up to $100 per quarter on eligible Resi purchases. Now, Resi is a restaurant reservation platform, but you don’t actually have to make any reservations through Resi to use this credit. All you have to do is enroll in the benefit and then use your AMX Platinum card for a dining purchase at a Resi restaurant.
01:48 Ben Walker
The last standout credit I want to mention is you can receive up to $300 in digital entertainment credit per year. So that’s up to $25 per month on eligible streaming services. So, if you already use streaming services like Disney Plus, including Disney Plus bundles, peacock, Paramount Plus, YouTube TV, and others, you know, this should be an easy credit to use. And with these three credits alone, that’s over $1,300 in value.
02:22 Ben Walker
And that’s without mentioning many other available credits and benefits, which can provide you with an additional $1,400 or more in value.
02:29 Speaker A
So, Ben, bottom line, my friend, is it worth it in your opinion?
02:35 Ben Walker
Yeah, I mean, $895 is a lot of money. You know, that’s one of the biggest annual fees around on any of these credit cards. Uh, but for many people, this annual fee, I think is going to be more than worth paying. If the benefits align with your lifestyle and spending habits, you can get over $3,500 in potential annual value. But, you know, I will say it’s not going to make sense for everyone.
03:01 Ben Walker
If you find that you would have to put in a lot of effort to get value from these benefits and credits, like maybe you don’t use these services that often, it may not be worth it for you on a long-term basis.
03:13 Speaker A
Ben, thank you. Appreciate it.