(Update: SiriusXM Removed) American Express Platinum $240 Digital Credit Explained

Update 3/11/24: SiriusXM is getting removed on May 8, 2024. Hat tip to FM

Update  9/3/23: Audible is getting removed from October 2, 2023 and beyond. They added Wall Street Journal instead.

Original Post:

American Express has just launched a number of new benefits for Platinum cardholders. In this post we will explain the new $240 digital credit. This credit allows cardholders to get up to $20 in statement credits per month when they make purchases with participating partners. You need to enroll in this benefit first (enrollment link here). The participating partners are as follows:

• Peacock
• Audible  (removed from October 2, 2023, and beyond)
• SiriusXM
• The New York Times
• Hulu
• Disney+
• Disney+ bundle (with Hulu and ESPN+)
• ESPN+
• Wall Street Journal (added in August 2023)

You need to allow 6-8 weeks for the credits to post, but it will likely credit much quicker than that.

Peacock

The credit can be used on all Peacock subscriptions (Peacock Premium & Premium Plus). Gift card purchases are specifically excluded.

• Peacock Premium is $4.95 per month
• Peacock Premium Plus is $9.95 per month

Audible

Credit can be used on all Audible subscriptions (Audible Plus & Audible Premium Plus) as well as audiobook purchases. Audible has two membership tiers:

• Plus: $7.95
• Premium Plus: $14.95

More information about Audible can be found here (our affiliate link).

SiriusXM

All purchases made directly with SiriusXM online, telephone or direct mail purchases. It excludes SiriusXM safety, security or Telematics services (Connected Vehicle), SiriusXM for Business subscriptions, SiriusXM ad sales or Pandora. SiriusXM has three different membership tiers (plus a bunch of additional options):

• Streaming: $10.99 per month
• Car + streaming select: $16.99 per month
• Car + streaming all access: $21.99 per month

New York Times

Unfortunately purchases from NYtimes store are excluded, as are gift card purchases. Subscriptions (digital, print, NYT Cooking, and New York Times Game) are all eligible. New York Times digital subscription is $4.25 per week (billed at $17 every four weeks).

Best Uses Of The Credit

The best use of this credit will obviously be if you’re already subscribed to any of these services or would like to subscribe to them. At the moment we don’t know if things like gift card purchases will work, although they are specifically exclude in the terms that doesn’t always mean it’s enforced (although with American Express who knows if they will do a claw back ten years from now).

I can’t see any interesting portal plays at the moment (looks like Mr Rebates has $5 on Peacock), but SiriusXM sometimes has deals where you can get free echo dots and or similar devices when signing up.

I think most people that just want to ‘set & forget’ this credit will end up doing a combination of Peacock and Audible. Obviously some will find SiriusXM and New York Times useful as well. Overall this credit as it currently stands is extremely disappointing, fingers crossed we can find some better uses of it.