American Express’s new welcome offer for Platinum Card® is paused to me. This is the reason

If the issuer doesn’t tell me what the welcome offer is, would you apply for a credit card that costs hundreds of dollars?

American Express recently changed the language of terms American Express Platinum Card You are eligible to earn on a welcome offer without specifying the exact number of points.

Credit Card Welcome Bonus – A bulk of rewards you can usually earn to reach a certain spending threshold in a given number of months – one of the main reasons people apply for luxury travel credit cards.

Annual fees With expensive credit cards, they can usually be offset by a welcome offer you can earn. So you can see that your annual membership fee of $600 and a welcome bonus of 100,000 points (depending on the value of these points) covers your fee for at least one year.

American Express did not respond to questions in time for publication.

So, what has changed with the platinum card? I’ll explain it.

What changed with the Platinum Card Welcome Offer?

Here’s how Amex changed the language:

• Old offers: 80,000 points spent $8,000 in the first six months.
• New offers: You may be eligible for 175,000 Membership Rewards® Points after spending $8,000 on a new card during the first six months of your card membership. Welcome offers vary and may not qualify for the offer. Please check the exact welcome offer when applying.

It’s a mouthful, I know. As someone who has covered credit cards for nearly a decade, reading all terms carefully is a good reminder. This is what you should pay attention to.

Why you should read offers carefully

A few things to call in this new language.

1. Just as expensive. Yes, 175,000 is a big number. However, the scope is not disclosed. That makes me wonder what the smallest amount you could earn on a card at the annual fee of $695. (See prices and prices. Terminology applies. )
2. Welcome offers vary and you may not qualify for this offer. This may mean that you may not qualify for the best payment, or, in the worst case, you may not qualify at all. In any case, the language is vague.
3. Please check the exact welcome offer when applying. It is not said how much you are eligible to earn money before applying. Let’s say you’re approved with the expectation of a 175,000 bonus, but instead only qualified 60,000. At that point you need to decide whether it is worth it enough to accept. On the positive side, Amex says you Credit score It will only affect you if you accept your card – not when you apply.

Do I need to apply for Amex Platinum?

If you were planning on applying for a card, it may be worth refraining until the company clarifies the bonus – perhaps that will entail Card update plan The second half of this year. Otherwise, the welcome offers you receive may not match your expectations.

It is possible that credit card issuers are publishing this now ahead of planned updates in preparation for reward improvements. Amex may offer a layer of platinum cards.

In any case, the lack of disclosure regarding language changes and welcome offers gives me a pause.

It’s similar to the method New Coinbase One Card We do not disclose the number of assets required to qualify for the highest compensation rate. I think the new language is intentionally ambiguous to people apply.