The Platinum Card® from American Express, is turning 40, and the issuer is celebrating its premium card’s big day with a bunch of limited-time promotions for cardmembers, including free hotel nights, transfer bonuses, statement credits and other premium offers.

This may be exciting news for current Amex Platinum cardholders or those actively considering applying for the card. For everyone else, however? Perhaps not as much. The travel credit card market is full of options better suited for most people, including people who prioritize premium perks.

Here’s what you need to know about the Amex Platinum birthday promotions and how they impact current and prospective cardholders, as well as some other cards we love that are likely better fits for many people:

What the new special offers from Amex include

The exclusive birthday promotions are live now and Amex will be running them through Sept. 30, 2024. Cardmembers can take advantage of:

  • Complimentary third nights on eligible stays at select Fine Hotels + Resorts and The Hotel Collection properties booked through the American Express Travel portal.
  • Forty percent more Hilton Honors points when transferring Membership Rewards points through May 31, 2024. Note that this offer is only available to current Platinum cardmembers for accounts opened on or before April 20, 2024.
  • Special access to select Global Dining Access by Resy restaurants across the U.S. from May 30 to September 26, 2024.
  • Statement credits or bonus Membership Rewards points for select purchases at Hilton, Delta, Hertz, JetBlue, Sephora, Lululemon, Oceania, and Telecharge from May 9 to August 6, 2024, while supplies last. These offers are also only available to cardembers for accounts on or before April 20, 2024.
  • An opportunity to try a new Platinum-themed cocktail, the Platinum 1984, and special treats for cardholders visiting the Centurion lounges throughout the summer.
  • Exclusive access to specially curated events within the Premium Events Collection, including experiences across sports, fashion, art and dining, among others.

Are the Amex birthday limited-time offers worth it?

If you already have the Amex Platinum, some of these offers may prove valuable — in the right circumstances. For example, if you’re planning a short trip and typically stay at more premium properties, the third night for free can save you money. Certain statement credits can also come in handy when you’re booking travel or shopping at eligible merchants.

As for the transfer bonus, moving your Membership Rewards points to Hilton Honors is typically not the best use of your rewards. According to Bankrate valuations, Hilton Honors points are worth about 0.6 cents apiece on average, and Membership Rewards points — about 2 cents apiece on average. Even with the promotion, you’d lose out on some of your points’ potential value with the transfer.

For those shopping for a new travel card, these offers are even less compelling. Unless you’ve already decided the Amex Platinum is the right card for you, you’ll likely find other competitive options for a lower annual fee.

After all, the Amex Platinum is still a luxury travel card with a $695 annual fee. It provides the most comprehensive airport lounge access you can get with a credit card, as well as elite hotel loyalty status. But, unless you’re a big travel spender, you’ll be leaning on the card’s annual and monthly credit benefits to recoup the hefty fee.

Many of the credits are rather niche, like the card’s Equinox fitness membership or Saks Fifth Avenue credits. Other Amex Platinum offers, however, are truly exclusive, meaning they exclude the average cardholder. The private jet program membership perks the card provides spring to mind. As with any card and especially with a premium card like this, it’s important to keep in mind that you shouldn’t take on spending you weren’t already planning on to make the most out of credit card perks and points.

Other great credit cards to consider instead of the Amex Platinum

Capital One Venture X Rewards Credit Card image

Capital One Venture X Rewards Credit Card

Chase Sapphire Reserve® image

Chase Sapphire Reserve®

Chase Sapphire Preferred® Card image

Chase Sapphire Preferred® Card

Discover it® Miles image

Discover it® Miles

The bottom line

My take is the Amex Platinum’s birthday perks are best viewed as a way to thank the existing cardmembers. Their value is mostly circumstantial and shouldn’t be the sole reason to sign up for the card. However, if you’ve already been considering the card and could use some of the advertised offers, now might be a good time to apply.