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The Platinum Card® from American Express is a top-tier premium travel rewards card with a $695 annual fee (see rates and fees).
At first glance, that figure looks colossal for a single card. However, the plethora of lifestyle-oriented benefits helps cardholders justify keeping the Amex Platinum in their wallets.
One such feature is a monthly statement credit toward eligible digital entertainment subscriptions.
The Amex Platinum offers up to $240 in “digital entertainment” statement credits annually, spread out in monthly $20 increments. Enrollment is required, and terms apply. You can use these credits for the following subscriptions:
American Express periodically changes the services this statement credit covers, so pay close attention to the list of covered subscriptions.
First, note that you must enroll your card before making a qualifying purchase. You won’t receive any statement credits if you fail to do this.
Head to your Amex Platinum home page and click the “Benefits” tab at the top of the screen.
You’ll now see many tiles outlining each of your card benefits in full. Scroll until you see “$240 Digital Entertainment Credit.” You can click either the “Get Started” or “Learn More” button.
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Scroll past the details and tips until you see a picture of your card. Indicate that you understand the terms and conditions of the card benefit, and click “Enroll Now.”
That’s it — you’re ready to start saving.
Let’s now look at the costs of each digital entertainment subscription. Remember that you must enroll directly with the provider for your Amex credit to trigger. You can’t sign up via a mobile app or third party.
Related: How to use your Amex Uber credits for rides and meals
Touted as “The Disney Bundle,” you can get all your movie, TV shows and sports-watching needs covered with Hulu, Disney+ and ESPN+. You can also unbundle these offerings, and the digital entertainment credit will also reimburse each monthly service individually.
There are varying levels of services with each plan, but here are some of the current monthly prices we’ve found:
As you can see, you can tailor the right plan that fits your needs. No matter which plan you choose, you must purchase the monthly subscriptions directly through the provider’s websites — after enrolling for the benefit with Amex.
Pro tip: The Disney Bundle may offer the best value for your money. It will maximize your up to $20 monthly digital entertainment credit, so it’s a great plan that covers all of your bases.
Peacock offers two paid products:
You will not be reimbursed for subscriptions bundled with cable services or other bundles, and you can’t use it toward gift cards of any sort.
Pro tip: I have Peacock Premium, and while I tend to get good use from it, the free version may suit you just as well. The big difference is that you get double the available content and live sports. If your investigation reveals that the shows you’re interested in are available on the free version, the Amex Platinum credit won’t do you much good here. Springing for the ad-free Premium Plus subscription would be the real decision-maker, as you can also download content for offline viewing.
Related: Best credit cards for streaming service subscriptions
Ignoring limited-time or introductory offers, here’s what you can expect to pay for a subscription with The New York Times:
You’ll need to visit The New York Times’ website to trigger the Amex Platinum credit. Unfortunately, you cannot use your credit for ad services, The New York Times conferences, gift cards, the TimesDigest or any purchases from The New York Times company store.
Pro tip: Many of these subscriptions are discounted when purchasing an annual subscription instead of paying monthly. For example, NYT Cooking costs $72 per year when you pay each month but only $50 in value if you pay a lump sum. That sharply diminishes the value of this digital entertainment credit.
Here’s what you can expect to pay for a subscription to The Wall Street Journal:
Pro tip: The Wall Street Journal regularly posts specially priced offers for its services (digital and print). Those promotional periods are ideal times to sign up to stack the Amex Platinum Digital Credit with other subscriptions and maximize the $20 monthly credit.
Related: Is the Amex Platinum worth the annual fee?
It can be. The issue is that many of us purchase our memberships annually because there is often a steep discount. The Amex Platinum statement credit works against a strategy like this. To get the biggest value from this benefit, you’ll need to pay for your subscriptions monthly, which can raise the effective price of your annual subscriptions.
For example, paying a lump sum for an annual subscription to various assets of The New York Times can save you 33% over monthly payments. In other words, you shouldn’t necessarily value the digital entertainment credit at $240 per year.
The providers that trigger the Amex Platinum statement credit reimbursement are Disney+, Hulu and ESPN+, Peacock, The New York Times and The Wall Street Journal. We hope that Amex will add even more popular services like Netflix and Spotify in the future.
This credit is limited enough that we don’t see any non-obvious methods for redeeming. If you already have any of these subscriptions, this credit is a good deal for you. If not, the credit may be enough to convince you to try a new thing. However, don’t calculate this credit into your annual savings unless it’s money you would have spent anyway.
After you charge the monthly recurring service to your Amex Platinum, you should receive your reimbursement within six to eight weeks. However, for many TPG staffers, the credit usually takes under a few business days to arrive on their statement.
American Express offers up to $240 in digital entertainment statement credit onto the Amex Platinum’s suite of benefits, among other credits for Equinox, Walmart Plus and Saks. Just remember to enroll your card first before paying for any participating services. Otherwise, the credits won’t be applied.
To learn more, read our full review of the Amex Platinum.
Apply here: The Platinum Card® from American Express
Related: Here’s how much value you can get from the Amex Platinum card in your 1st year
For rates and fees of the Platinum Card® from American Express, click here.