Can You Pay The Amex Platinum Annual Fee Monthly?

Love the benefits of the Platinum Card but daunted by the one-time Amex Platinum Annual Fee hitting your account every year? What if there was an Amex Platinum Annual Fee Monthly option? Well, the good news for existing Platinum Cardholders is there is a way… but with some caveats!

Why would you want to switch to pay the Amex Platinum Annual Fee Monthly?

For us… we thought it would be a good idea to cover in a blog post! But the main reason you may wish to switch to a monthly fee instead on an annual fee is budgeting/cash flow reasons.

What will be interesting to see (and what we don’t know yet) is whether Amex removing pro-rata refunds on their cards affects people with a pay-monthly Platinum Card. If it doesn’t paying monthly would be a great option if you were unsure if you wanted to keep the card for an entire year.

What’s the difference between an Amex Platinum Card that pays annually and that pays monthly?

Absolutely nothing other than the amount/how regularly you pay. The Platinum Card is typically £650 a year with the ‘normal’ annual fee but under the monthly option you will pay £55 a month instead.

How do I switch to paying the Amex Platinum Annual Fee Monthly?

If you’d like to switch to paying the Amex Platinum Annual Fee Monthly you need to contact Amex either by phone call or live-chat. When you do so let them know that you are interested in paying the annual fee for the Platinum Card monthly.

Things to note…

Based on anecdotal experience, your account should be at least 3 months old.

It appears some customers are being told that they aren’t eligible for the offer (as to what causes this or why we don’t know.) You can always try again another time.

Conclusion

While the overall benefits of the Platinum Card remain unchanged, whether you pay annually or monthly, this flexibility in payment can be particularly advantageous for those who don’t like finding a lump sum every 12 months. What remains to be seen (and which would be a major selling point as Amex are removing pro-rata refunds on the annual fee credit card) is if customers on the pay monthly version can cancel at any point with no further obligations.