The welcome offer is usually one of the main reasons that people apply for a new credit card. But what if the publisher did not disclose the offer until you applied?
American Express recently changed language for terms Platinum card ® from American Express Without specifying the exact number of points you want to earn with your welcome offer.
A credit card welcome bonus – a lump sum of rewards you can earn, usually to achieve a certain spending threshold in a number of months – is one of the biggest luxury travel card draws.
The Annual fee The expensive credit card can usually be offset by the welcome offer you can earn. So, with a card that has an annual fee of $ 600 and a welcome bonus of 100,000 points (depending on how much those points are worth), you know that the fee has been covered at least one year.
American Express did not respond to the commentary request.
So what changed with the platinum card? Explaine explain.
What has changed with the platinum card's welcome offer?
Here's how Amex changed its language:
- Old offer: 80,000 points for spending 8000 USD in the first six months.
- New offer: You may be entitled to as many as 175,000 Membership Awards after you spend 8000 USD in qualified purchases on your new card in the first six months of card membership. Welcome offers vary and you may not be entitled to offer. Discover the exact offer of welcome when applying.
That's the mouth, I know. As someone who covers credit cards for almost a decade, it's a good reminder to read all the conditions carefully. Here's what to pay attention to.
Why should you read the offer carefully
A few things you need to call with this new language.
- No matter how much it is. Yes, 175,000 is a large number. However, they do not disclose the range. It leaves me to wonder what is the least amount you can earn on a card with an annual fee of $ 695. (See rates and fees; Apply terms.)
- Welcome offers vary and you may not be entitled to this offer. This may mean that you may not qualify for the highest payment or, at worst, so as not to qualify at all. In any case, the text is unclear.
- Discover the exact offer of welcome when applying. You are no longer told how right to earn before applying. Let's say you're approved, expecting a 175,000 bonus, but just qualify for 60,000. At that moment, you will need to decide whether the card is worthwhile to accept it. By plus page, Amex says your Credit score It is only affected if you accept the card – not when applying.
Do you need to apply for AMEX platinum?
If you were planning to apply for the card, it may be worth rest until the company clarifies the bonus – maybe it will come with its Planned update of the card Later this year. Otherwise, the welcome offer you get may not fit your expectations.
It may be that the credit card issuer is now exposing him, before the planned update in preparation for rewards. AMEX can offer platinum card levels, each with a different welcome and rewards offer, but it's just speculation.
In any case, changing the language and the lack of disclosure for the welcome offer give me a break.
Similar to how New Coinbase One Card You will not find out how much money you need to qualify for the highest rewards, the new language hits me as deliberately ambiguous to make people apply, just to find out that the benefits are much less than what they expected.