Amex Adds $30 Monthly PayPal Credits to Platinum Card
amex paypal credits

Amex is Adding a $30 Monthly PayPal Credit to the Platinum Card

This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. For more information check out our Advertising Disclosure.

Banks behind the top travel cards have been forced to pivot during the pandemic, and few have gone farther than American Express in trying to convince members to keep using their cards with travel on hold. Back in May, Amex added $20 monthly credits for streaming services like Netflix and Hulu and another $20 monthly credit for wireless phone service to the Platinum Card from American Express.

But those credits only ran through the end of 2020, and American Express hasn’t yet said whether it will extend or replace them. Now it seems Amex has a plan for 2021.

American Express is adding a $30 monthly credit for PayPal to the Amex Platinum Card. That means you’ll get credited up to $30 back in PayPal charges to your Amex Platinum Card each month, from January through June 2021. That’s a total of up to $180 back through the first half of the year.

American Express hasn’t formally announced the change yet, nor said whether it plans to extend the streaming and cell phone credits. But they’ve already launched an FAQ page up with all the details about this new credit and partnership with PayPal.

Read about the massive offers currently available on the Amex Platinum Card!

 

amex platinum 1

 

Click Here to learn more about the Platinum Card from American Express. 

 

What You Need to Know

PayPal is a completely free service, and there is no additional charge for creating an account and making a purchase through your PayPal account. If you don’t already have a PayPal account, you can create one here.

PayPal is accepted at millions of merchants across the U.S. – all of which will be eligible for this new $30 monthly credit. All you need to do to get these credits is add your Platinum Card to your PayPal account and charge a purchase to it.

And while PayPal allows person-to-person payments, these transactions will not be eligible for the monthly statement credits per the Amex FAQs page.

This credit is valid as of today, Jan. 1, 2021, and will run through June 30, 2021. No enrollment is required for this new benefit.

 

Our Analysis

While this falls a bit short of the $40 in monthly credits split between streaming and cell phone service that cardholders have enjoyed for the past several months, this new PayPal credit is a smart addition.

What remains unclear is if this new benefits will be retained past June of 2021. That will largely depend on the state of American Express’ business. But for now, this new credit is set to expire on June 30, 2021, so make sure you take advantage of it.

For Amex, it’s a smart pivot and a way to provide some additional value for many of their cardholders who are still not yet ready to travel. It’s a different play from the same playbook American Express has relied on during the pandemic.

The bank has been investing heavily in cardmember benefits and retention over the last year. Many cardholders have been able to get 50,000 points or a $500 statement credit just to renew their cards for another year.

In early December, Amex CEO Steve Squeri shed light on what the bank was up to during the pandemic: New record-busting bonuses on their top travel cards, huge retention offers to convince cardmembers to keep their accounts open, and also hinted that more travel benefits in store for 2021.

Read more: Amex Peels Back the Curtain on Changes in 2020, What 2021 May Bring

This may be the first of what’s to come in what is sure to be an interesting year for Amex and the travel rewards credit card space in general.

 

Amex PayPal Credits

 

Click Here to learn more about the Platinum Card from American Express. 

 

Bottom Line

If you have an Amex Platinum Card, starting today you’ll be able to get a $30 monthly statement credit for any purchases through PayPal through June 30, 2021. This new benefit will be available for both new and existing cardholders and should be relatively easy to take advantage of.

If you don’t yet have a PayPal account, you can create one here. Once your account is active, just make sure to add your Platinum Card to your PayPal wallet.

 

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

Leave a Reply

Your email address will not be published. Required fields are marked *