As credit card holders, many of us juggle multiple cards, each with its own set of perks and benefits. Particularly in May, a strategic approach is necessary to maximize the value of each card. This guide will help you navigate these benefits effectively, ensuring you don’t leave any value on the table.
American Express: Maximizing Monthly Perks
American Express cards are known for offering robust monthly perks that, if utilized correctly, can significantly offset the card’s annual fees. For instance, The Platinum Card® from American Express offers a variety of valuable monthly benefits:
- Walmart+ Membership: Cardholders can receive up to $12.95 in statement credits monthly for their Walmart+ membership fees, ensuring savings on shipping and grocery delivery costs.
- Uber Credits: Each month, up to $15 in Uber credits can be used for rides or Uber Eats orders, adding convenience and saving on travel or meal expenses.
- Digital Entertainment Credit: A $20 monthly credit applies to several digital services, including Disney+, Hulu, and ESPN+, perfect for entertainment lovers.
Navigating Statement Credits and Benefits
Understanding the “up to” amounts is crucial as these credits are only reimbursed to the extent they are used. Ensuring you receive all your credits can sometimes require following up via customer service, especially if credits do not apply automatically.
Special Semi-Annual Benefits
In addition to monthly perks, Amex Platinum cardholders receive up to $50 in Saks Fifth Avenue credits twice a year. Planning your purchases to coincide with these periods can maximize your luxury shopping benefits without extra spending.
Equinox Membership Credits
Previously offered monthly, the Equinox credits now provide up to $300 annually for memberships or Equinox+. This change requires members to strategize their gym membership payments to make full use of the available credits throughout the year.
Additional Tips for Maximizing Credit Card Benefits
Keeping track of all available perks can be daunting. Utilize apps and tools designed for managing credit card benefits or set calendar reminders for benefit renewal dates. This proactive approach ensures you never miss out on available offers.
Understanding and Avoiding Common Pitfalls
Many cardholders miss out on benefits due to a lack of understanding or oversight. Familiarize yourself with the specific terms and conditions of your credit card benefits, and always check if enrollment is required to activate certain perks.
Final Thoughts
Maximizing credit card benefits requires diligence and an understanding of each card’s offerings. By staying informed and proactive, you can enjoy significant savings and rewards, particularly with cards like The Platinum Card® from American Express. Make it a habit to review your credit card benefits regularly, especially as new billing cycles begin each month.