Doctor of Credit is reporting on a new rumor regarding the already-rumored changes expected to launch on the Amex Platinum cards in a few weeks. According to a rumor that has floated at US Card Forum, the Platinum card (perhaps just the consumer version) will be adding credits for Resy and Lululemon purchases.
It has already been rumored that the annual fee on both the consumer and business versions of the Platinum card will increase to $895 around September 18, 2025. Previous rumors indicate that both cards will introduce up to $600 per year in statement credits for prepaid Fine Hotels & Resorts stays (and presumably The Hotel Collection stays as well), reportedly $300 two times per year (one credit between January and June and one between July and December).
The new rumor being reported is that there will also be a quarterly credit of up to $75 for purchases at Lululemon (up to $300 total per year) and some sort of credit for up to $400 per year for Resy purchases. I’ve seen some speculation that these credits may replace Saks Fifth Ave and Equinox, though that is entirely speculation at this point.
For clarity, these Lululemon and Resy credits are just rumors at this point. It is hard to guage whether these will come to fruition, though neither seems terribly far-fetched since Saks has been in rough financial shape and Amex owns Resy and has already been incentivizing use of the platform on the Gold card.
While I’ve never spent a dime on Lululemon, I’m sure we would put that to use (whether for gifts or for ourselves). I am hoping that the Resy credit will be $200 twice-annually and not a monthly credit. I would find a monthly credit really annoying as it would necessitate remembering to use yet another monthly benefit (and going out of my way to do so), but a $200 semi-annual credit would be great as we would easily use that in one shot twice a year.
We’ll see how things pan out, but those credits might make a difference in my calculations about which ultra-premium cards to keep. If the Platinum card keeps the airline incidental credit, adds the expected Fine Hotels & Resorts credits, and adds these credits, the math might just add up to move it into keeper territory in my latest analysis.
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Nick in black Spandex . . . hmmm.
These would be great credits for me, particularly the Resy credit. We don’t live in a major urban area, but our favorite date night restaurant is on Resy and is a splurge. Here’s hoping it’s bi-annual or at least quarterly.
weekly. Thurs/Friday only
Resy and Lululemon credit would work great for me personally, but I agree that I really hope the Resy credit is not monthly. Even quarterly would be fine for me (but I agree semi-annual would be better), but monthly would be a bit much.
Yahoo! Quarterly credits or semi-annual credits would be sweet. I struggle to use the Saks and Equinox credits, but I get it done. These two vendors are right in my wheel-house.
I wonder how some of these credit have worked out for the vendors. I know that the only thing I have learned from the Saks credit is that I never want to do business with Saks again after I no longer have the credit. Not only do they charge high prices and high rates for shipping, but I recently had an order from them lost by UPS and Saks won’t send out a replacement. I can get a refund and then I have to reorder, which is a pain because the item I bought had a 25% off coupon that is no longer available. And in some cases this could result in lose of the $50 credit. So instead of turning me into a long term customer Saks has merely convinced me that Amazon has better customer service. Similarly, a lot of us use the Equinox credit for the Equinox+ app, only to quickly learn that it isn’t remotely worth $300 per year. No doubt both of these credits are worth a lot more to others, but I just wonder if the economics really work out in the end for Saks and Equinox.
I can use the Saks credit, but Lulu would definitely be better, even quarterly versus semi-annually, b/c shopping portals tend to pay bigger for Lulu.
Can I ask what you bought from Saks in the past year other than gift cards? Their inventory seems to shrink every quarter.
The best thing I’ve bought with my credit was a Staub Cocotte for $99 back when they had free shipping on $49+. But I agree it’s harder than ever to use this credit. It’s been a net loss for me factoring in all the time I’ve wasted looking for ways to use the credit.
Here’s my issue–credits in combination are more useful than credits individually, which affects what to keep and what to close. For example, $10 of Uber Eats credit on Gold would never be used by me. However, combine that with $15 of Uber Eats credit on Plat and $25 restaurant credit on Brilliant that I could use on the same transaction, and now I’ve got $50 to spend (and pick up instead of deliver, which saves more money). Another example–Resy. A $10 credit on Delta Plat each month would never be used, but combine that with $20 on Delta Reserve, and now I have $30 that will cover half a lunch for two every month (or a nice dinner if combined with $50 from Gold every six months). So, a new Resy credit, depending on how it is parceled out, could actually be quite effective if I could pare it with other cards.
I agree with your take. There was a reported rumor around a year ago that the Uber credits might become unstackable. Seems like it hasn’t happened yet, but that would change the game for me.
$400 coupon at 1X earn, ouch…this will be a pain to juggle with the Gold Resy credit. Hoping it’s semiannual and not something insane like $20 per month except $80 in December.
Also really hope they keep the Airline and Uber credits…
Perhaps Amex has learned from the CSR debacle and is selectively leaking options to see what will draw jeers and and what will draw cheers before the final decision. These new options aren’t great for me (no Resy options where I live and never bought from Lulu) but I could find a way to use them so these changes would work. Although as Nick says, Resy monthly credits would be awful (hear that, Amex?!?)
weekly baby!
Hopefully the new fee doesn’t take effect on Sept. 18, as rumored. My renewal date is the 20th!
Seems, since there hasn’t been an announcement yet, that changing the fee in September would be way to quick from any announcement.
Resy and Lululemon would definitely make the card a keeper for me.
You need spreadsheets now to keep track of all the different credits on these premium cards!
That’s true since long time ago!
unfortunately, you’re right!
Totally. However, if they are credits that are at least $50 on things that I actually spend money on, I enjoy the spreadsheet. Chase DoorDash, Amex Dunkin’, etc, just aren’t worth the squeeze for me.
I am sure you used the word “enjoy” loosely, lol
Dunkin is 30 seconds to add $7 to my account.
The $10 a month dining credit I need to remember to go to cheesecake to add $10 on my gift card.
It’s worth it to me, but it reduces the value considerably.
Does anyone know if a physical gift card bought at the restaurant will work for Resy?
There’s a restaurant I like that’s on Resy, but we aren’t necessarily going to eat there every half year.
The Resy credit is triggered when you use your card to pay at the restaurant. I can’t imagine that a restaurant has their register set up to charge under a different merchant code when they sell you a gift card versus when you pay your bill. Paying for anything at the restaurant register ought to work.
My wife is now interested. I would also be interested to add my restaurant to RESY.
It’s a niche thing for New Yorkers, but the Resy credit is so very easy to use here if you eat out — I consume the one on the Gold card without even thinking about it. Of course, with the Platinum you’d have to remember to not use the Gold card in order to get the credit.
Agreed!
You still get the $50 semi-annual Resy credit on Gold, so your downside isn’t too bad. Plenty of restaurants on Resy in the NYC burbs as well (we live over an hour away from Manhattan and lots on Resy).
On the other hand, those Chase Sapphire Reserve Exclusive Tables restaurants in NYC–ugh. Unless I am coming into NYC for a slice of pizza nowhere near where I am planning to be, not sure what to do with that list.
Our taco place is in Resy, they have a dedicated takeout window. That place alone solved our Platinum/Gold UberEats, Resy, Grubhub credits plus the Brilliant dining credit, with zero spillage