It’s Time for the AmEx Triple Dip

American Express Annual Credits

Many of American Express’s Platinum and Business Platinum credits famously reset at the end of the calendar year, providing the scrooges among us an alternative reason to like the holidays. For our purposes, the most relevant are:

  • Business Platinum
    • $400 Dell credit ($200 January – June, and $200 July – December)
    • $200 airline fee credit
    • $189 Clear credit
  • Personal Platinum
    • $100 Saks Fifth Avenue credit ($50 January – June, and $50 July – December)
    • $200 annual airline
    • $189 Clear credit

The Triple Dip

When you combine the annual reset with the fact that American Express bills its annual fee at the close of the 12th statement for the card and its 30 day after annual fee posts refund policy, you’ve got a recipe for getting nearly three years worth of credits with a single annual fee. The procedure:

  1. Open a new card in late November or early December
  2. Call American Express as soon as you activate the card and push the statement date as late as possible
  3. Spend your 2022 credits before the new year
  4. Spend your 2023 credits next year
  5. Spend your 2024 credits on January 1, 2024
  6. Close the card within 30 days of the annual fee posting in late 2023 or early 2024

Earnings

There are other less valuable (garbage) credits on the American Express Platinum cards, but the big ones mean you’ll earn the following with a single annual fee:

  • Business Platinum
    • $600 in airline fee credits ($200 in 2022, 2023, and 2024)
    • $800 in Dell credits ($200 in 2022 and 2024, $400 in 2023)
    • $567 in Clear credits ($189 in 2022, 2023, and 2024)
  • Personal Platinum
    • $600 in airline fee credits ($200 in 2022, 2023, and 2024)
    • $200 in Saks credits ($50 in 2022 and 2024, $100 in 2023)
    • $567 in Clear credits ($189 in 2022, 2023, and 2024)

Of course the trick works for any other American Express card credits, or for triple dipping spend caps too; you can get the $25,000 4x grocery capacity on the Gold card or the $50,000 2x Blue Business plus capacity three times with a single annual fee, so be creative!

A favorite holiday treat completed with free mustard from Saks Fifth Avenue.

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