Why And How To Upgrade Amex Gold To Platinum (2024)

Earn 60,000 Membership Rewards® Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

Upgrade Bonus

Amex occasionally sends targeted offers of 40,000 to 100,000 Membership Rewards points to encourage upgrades to The Platinum Card. Similar to a welcome bonus, these offers require a certain amount of spending in your first several months of membership.

To sweeten these upgrade offers further, Amex sometimes includes extra bonus points in certain spending categories during your first several months of membership, e.g. 5 points per dollar on restaurants for the first six months, a significant increase over the usual 1 point per dollar.

Amex’s once-per-lifetime policy for welcome bonuses means that upgrade offers are especially attractive for cardholders who have previously had The Platinum Card, but closed their account. Though you would not be eligible for a welcome bonus, you may still be offered a transfer bonus.

A strong upgrade offer in your inbox can be a powerful incentive to upgrade to the Amex Platinum.

Earn More Points on Travel

The Amex Platinum card earns 5 Membership Rewards Points per dollar for flights booked directly with airlines or with American Express Travel on up to $500,000 per calendar year, 5 points per dollar on prepaid hotels booked with American Express Travel and 1 point per dollar on other eligible purchases. This is among the strongest reward offerings on airfare and hotels of any credit card. The Gold Card, meanwhile, bonuses everyday spending like restaurants and supermarkets.

Based on U.S. government data, Forbes Advisor calculates that a typical household would earn more Membership Rewards points with the Amex Gold due to higher spending in its bonus categories. However, The Platinum Card® from American Express provides most of its value through its perks and benefits (which we discuss more below) rather than its earning potential.

Get More Perks

The Platinum Card® from American Express offers a host of travel benefits, both in the air and on the ground. Each step of your trip can be elevated to a more luxurious level by a benefit from your Platinum Card.

You can transfer your Membership Rewards points to one of several airline and hotel partners, many of which offer potentially high yields. Your Uber ride to the airport will be offset by a $15 credit per month and $35 in December for up to $200 per year in Uber Cash. When you arrive at the airport, your bag fees could be covered by the card’s $200 airline fee credit, good at one selected airline each year. And you can breeze through security thanks to the fee credits that the card offers for trusted traveler programs like Global Entry, TSA PreCheck® and CLEAR® Plus.

After passing security, you can head to your lounge of choice. Unlike the Amex Gold, the flagship Amex Platinum grants you access to multiple airport lounge networks including Amex’s own Centurion Lounges, Escape Lounges, Delta Sky Club®, Lufthansa lounges, Plaza Premium and Priority Pass. Together, the massive combined network comprises over 1,400 lounge locations in 140 countries and counting. Then, when you finally arrive at your hotel, you might find your room upgraded.

Sure, upgrading from the Amex Gold to the Amex Platinum means forfeiting a handful of benefits specific to the former card. You’ll lose a pair of $50 Resy credits, for example, and your $7 monthly Dunkin’ credit to help sustain your coffee and donut addiction.

But if you see yourself using the lion’s share of perks, benefits and statement credits offered by The Platinum Card® from American Express, an upgrade might make sense.

Avoid a Hard Pull on Your Credit Report

Applying for a credit card typically results in a hard credit inquiry, which can reduce your credit score slightly. But in most cases, upgrading from the Gold Card to Platinum should allow you to enjoy the increased benefits of Amex’s flagship card without this impact.

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The Platinum Card® from American Express

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Rates & Fees/ Terms Apply

4.8

Forbes Advisor created additional star ratings so that you can see the best card for specific needs. This card shines for this use, but overall the star ratings may differ when compared to other cards.

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5X Reward Rate

Earn 5 Membership Rewards Points per dollar on prepaid hotels booked with American Express Travel and on flights booked directlyRead More

Welcome Bonus

Earn 80,000 points

Annual Fee

$695

Regular APR

See Pay Over Time APR

Credit Score

Good,Excellent(700 - 749)

Editorial Review

The Platinum Card is destined for frequent travelers who intend to fully leverage the rich set of luxury travel benefits and Platinum Concierge service. In the right hands, the classic status card’s staggering annual fee is well justified.

Pros & Cons

• High reward potential on flights and hotels booked through American Express Travel
• Multiple credits can help justify the fee
• Comprehensive airport lounge access
• Luxury travel benefits and elite status with Hilton and Marriott with enrollment

• Very high annual fee
• Maximizing the statement credits takes some work and could be impractical for many
• Reward rate outside of travel is sub-par for a premium card

Card Details

• Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Apply and select your preferred metal Card design: classic Platinum, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu.
• Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
• $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
• $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peaco*ck, and The Wall Street Journal. Enrollment required.
• The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
• $155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
• $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
• $200 Uber Cash: Enjoy Uber VIP status and up to $200 in Uber savings on rides or eats orders in the US annually. Uber Cash and Uber VIP status is available to Basic Card Member only. Terms Apply.
• $199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
• Receive either a $100 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
• Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That’s up to $50 in statement credits semi-annually. Enrollment required.
• Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
• $695 annual fee.¤
• Terms Apply.

Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.

Credit Score ranges are based on FICO® credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.

It might not make sense to upgrade the Amex Gold to Platinum if:

• You haven’t received a targeted offer, and
• You’ve never owned the Amex Platinum before

In this scenario, you’d be eligible for a welcome bonus offer with The Platinum Card® from American Express. But since product changes don’t qualify for regular welcome bonuses, upgrading your American Express® Gold Card instead would mean forgoing all those available bonus points.

Unless you’re really looking to avoid a hard credit pull, you should strongly consider applying for the Amex Platinum separately if you haven’t received an upgrade offer. Once you have The Platinum Card® from American Express, you could cancel your Amex Gold or use both cards in tandem to maximize your rewards (including those sweet free donuts).

Upgrading your Amex Gold Card to Platinum is a straightforward process. Simply call the customer service number on the back of your card or use the live chat feature online. If you have received a targeted offer in your inbox, it should include a link to a webpage to begin the upgrade process.

Your Membership Rewards balance on your old card should be automatically transferred to your new card, but it’s always a good idea to check that your valuable points haven’t disappeared.

To upgrade to the Amex Platinum, you must have had the Amex Gold Card for at least one year. The Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 forbids card issuers from increasing your annual fee if you’ve held a card for less than one year. Your account must also be in good standing.

The best time to upgrade is usually when you find a special offer in your mailbox or inbox. If you meet the spending requirements, you can collect a hefty bonus for a card you were already considering. Since you can only receive a welcome bonus once for any particular Amex card, this also maximizes your rewards.

If you are lucky enough to receive an upgrade bonus, try timing your application right before a large purchase to help you meet the spending requirements for the bonus. If this purchase is airfare for your next big adventure, you will also benefit from the Platinum Card’s higher rewards on this category.

It can also be a good idea to upgrade your Gold card right before the $325 annual fee is due. This allows you to maximize a full year of rewards from your Gold card (for example, your Resy credit) before paying a new annual fee for the Platinum.

If you feel that you aren’t getting enough value out of the Amex Platinum’s hefty $695 annual fee, it is also possible to downgrade from Platinum to Gold. The Gold Card offers an excellent suite of benefits and valuable rewards potential that may be a better fit for you.

According to Amex’s Terms and Conditions, downgrading or canceling your card in the first year can result in losing any rewards earned. So it is best to wait at least a year before downgrading to the Amex Gold. Unlike an upgrade, a downgrade will not be eligible for any welcome bonus or special offer.

Downgrading will also count as having the Gold Card for the purposes of Amex’s once-per-lifetime rule. You will no longer be eligible to receive a welcome bonus for the Gold Card, even if you later cancel the card and reapply.

That’s a big caveat to keep in mind, considering the Gold tends to offer one of Amex’s better welcome bonuses. To illustrate, at the time of this writing the Amex Gold offers a welcome bonus of 60,000 Membership Rewards points after spending $6,000 on eligible purchases in the first 6 months of card membership, plus 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of card membership, up to $100 back.

Consider carefully whether and when to upgrade your American Express® Gold Card to The Platinum Card® from American Express. Despite the large difference in annual fee between the two cards, the Amex Platinum can be a great fit for the frequent or luxury traveler. If you are lucky enough to receive an upgrade offer, it might be worth making the switch to collect a significant bonus after meeting the minimum spending requirements.

To view rates and fees for American Express® Gold Card please visit this page.
To view rates and fees for The Platinum Card® from American Express please visit this page.