Major Changes Coming to American Express Credit Cards
American Express is preparing to make changes to benefits and perks offered through its credit card lineup. The changes will be officially announced on October 1st and are due to kick in on January 1, 2020. But there’s already details of what we can expect from these Amex cards changes, and there’s good and bad news for American Express cardholders.
Trip Cancellation and Interruption Insurance
TPG reports that beginning on January 1, if you book a round-trip flight entirely with your eligible card and the flight is canceled for a “covered reason” — including inclement weather, terrorist action, call to jury, sudden illness or injury to you or an eligible traveler — you may receive reimbursement of non-refundable travel expenses of up to $10,000 per trip, with a maximum of up to $20,000 per eligible account for each consecutive 12-month period. A round-trip is defined as travel to one or more destinations that begins and ends in the original city of departure.
This benefit will be added to Amex premium cards that include:
- The Platinum Card® from American Express
- The Business Platinum® Card from American Express
- American Express Corporate Platinum Card
- Hilton Honors Aspire Card from American Express
- Delta Reserve® Credit Card from American Express
- Delta Reserve for Business Credit Card
- Marriott Bonvoy Brilliant™ American Express® Card
This is a game changer for those who have the Platinum Card. You can now earn 5X on travel and also get travel insurance from the same card.
Trip Delay Insurance
American Express is also adding trip delay insurance. This will cover round-trip flights purchased entirely with an eligible card. This insurance varies based on which credit card you have. You get up to $500 for trips delayed by more than six hours due to a covered reason, such as meals, lodging and personal-use items. You must have on f the following cards:
- The Platinum Card® from American Express
- The Business Platinum® Card from American Express
- American Express Corporate Platinum Card
- Hilton Honors Aspire Card from American Express
- Delta Reserve® Credit Card from American Express
- Delta Reserve for Business Credit Card
- Marriott Bonvoy Brilliant™ American Express® Card
You get up to $300 for trips delayed by more than 12 hours due to a covered reason, such as meals, lodging and personal-use items. You must have on f the following cards:
- American Express® Gold Card
- American Express® Business Gold Card
- Amex Green Card
- Platinum Delta SkyMiles® Credit Card from American Express
- Platinum Delta SkyMiles® Business Credit Card from American Express
Extended Warranty Changed from 2 Years to 1 Year
Beginning January 1, most consumer and small business American Express cards will offer one year of coverage. Currently the coverage is for two years, so this is a negative change for mane Amex cards. On top of that, no fee cards will lose this benefit completely starting next year.
Purchase Protection Changed from 120 Days to 90 Days
All Amex cards that currently offer purchase protection will have this benefit changed to 90 days. This is currently 120 days.
Other Perks Removed
- No Travel Accident Insurance on any American Express credit cards.
- Roadside Assistance Hotline no longer available.
Guru’s Wrap-up
There’s good and bad news in these Amex cards changes that will kick in next year. The Platinum cards for example will become more valuable with the added insurance that perfectly complements the 5x earning in travel. On the other hand some perks are being shortened and completely removed for some cards.
Let me know what you think.
