Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective.
American Express recently refreshed The Platinum Card® from American Express with several new benefits in the form of statement credits focused on travel and lifestyle. One of the new lifestyle credits is up to $300 in statement credits per year on Equinox memberships, including in-person gyms or their Equinox+ mobile app.
However, the credits are distributed as up to $25 monthly, which doesn’t cover any single Equinox offering. Because of this, they’re mostly useful if you have an Equinox location near where you live or work, or you want to give the app a try.
This is a nice addition for folks who’ll be able to use it, but for everyone else, these credits won’t add any real tangible value to an already expensive card. For those folks, the card’s other benefits will have to be worthwhile to make Platinum Card card a keeper.
How to use the Amex Platinum Equinox credit
See Pay Over Time APR
100,000 Membership Rewards points after you spend $6,000 in your first 6 months of card membership, plus 10x points on eligible purchases on the Card at restaurants worldwide and when you Shop Small in the U.S., on up to $25,000 in combined purchases, during your first 6 months of card membership
To receive up to $25 in monthly Equinox statement credits, you must first enroll for the benefit through the American Express website. All this entails is navigating to the Benefits and clicking “Enroll” on the Equinox section of the webpage.
From there, you’ll be directed to an Equinox-hosted website where you’ll enter your Platinum Card number to verify you’re eligible for the benefit.
From there, you can enroll in an Equinox in-person membership or for the “digital experience,” which is classes and activities through the Equinox+ app that you can use anywhere — even at home. Once you’re signed up and set your Platinum Card as your payment method, you’ll receive a $25 credit each month the membership fee is charged to your card account.
Authorized users can access this benefit, but you can only get $25 per month credited back across all your card accounts. Amex says it could take two to four weeks to receive the credit, but it’s usually much faster.
How to maximize the Amex Platinum Equinox credit
By using this benefit at all, you’ll be maximizing it because every Equinox service exceeds $25 per month. Equinox doesn’t advertise their in-club prices, which are usually at least a couple of hundred dollars a month, and vary by location, level of service, and market location.
The credit is valid toward Equinox All Access, Destination, E by Equinox, or Equinox+ membership fees. Equinox All Access gets you access to multiple Equinox gyms, which is helpful if you have a location at home and want to visit other US locations while you’re on the road. Destination is a similar concept, but includes international locations.
E by Equinox is a handful of clubs with upgraded amenities like personal training sessions, signature classes, and upgraded service, as well as access to all other Equinox club locations. You need this specific membership to access E Clubs as the other membership levels won’t get you access. Keep in mind, some Equinox memberships require a 12-month commitment and often involve initiation fees.
If you opt for the Equinox+ app, it costs $39.99 per month as a baseline, with the option to add many extras. On its own, the app offers the biggest discount compared to the $25 monthly credit amount.
That said, if you use the credit you’ll cumulatively save $300 throughout the year, which puts a big dent in the Platinum Card‘s $695 annual fee (See Rates) and goes a long way toward making the card worth keeping long-term. However, because these credits are so brand-specific and Equinox only has a presence in major cities, some folks might not find this benefit useful at all.
Other valuable Amex Platinum credits
In addition to the Equinox membership credit, the Amex Platinum Card also comes with other credits you can use along or travels or closer to home, including:
- Up to $200 per year in Uber Cash credits** — You’ll get up to $15 per month (except December, when you get $35) to use toward Uber rides or Uber Eats purchases
- Up to $200 per year in airline incidental fee credits** — Select an airline each calendar year and receive up to $200 in statement credits for things like checked bags, inflight purchases, seat upgrades, and more
- Global Entry or TSA PreCheck credit — When you use your card to pay for the application fees, you’ll receive a $100 statement credit for Global Entry and an $85 credit for TSA PreCheck every four years
- Up to $179 annually toward CLEAR** — When you use your card to pay for the application fee or ongoing membership fee, you’ll get up to $179 back as a statement credit once every calendar year
- Up to $200 for prepaid hotels through Fine Hotels & Resorts or The Hotel Collection — When you book through Amex and prepay for a hotel that participates in either program, you’ll receive up to $200 back for your stay every calendar year
- Up to $240 per year in digital subscription credits** — Get up to $20 a month toward a Peacock, Audible, SiriusXM, or The New York Times subscription service
For more details, check out our complete Amex Platinum review, and find out ways to use American Express Membership Rewards points toward travel.
Amex has added up to $25 per month as statement credits toward Equinox in-person or digital memberships. It’s a potentially valuable benefit for people who are already members (or interested in joining), but a missed opportunity for everyone else.
If you can make use of the benefit, getting up to $300 back per year can help justify the $695 annual fee on the Platinum Card. For everyone else, the other perks and credits will have to pull extra weight to make the card worthwhile.
Keep in mind, you’ll have to enroll for this benefit before you’re eligible to receive the credits.
Good to Excellent
3 Free Nights (valued up to 50,000 points each) after spending $3,000 in the first 3 months, plus 10x total points per $1 spent on up to $2,500 in combined purchases in select categories within your first 6 months
Good to Excellent
$200 after spending $500 in the first three months from account opening
Good to Excellent
Business News Governmental News Finance News
Need Your Help Today. Your $1 can change life.