The Amex Platinum has a massive $895 annual fee. While that is a big number, there are over double that amount in annual statement credits. One of the biggest is the $600 hotel credit. Just by utilizing that, your net annual fee drops to only $295. Starting January 1, 2027, the Amex Platinum hotel credit stops covering one night stays. American Express also renamed the benefit and added Airbnb to it, so this one is a mixed bag that leans negative.
What’s Changing
The $600 annual hotel credit is now called the Lodging Credit. The amount stays the same, and it's still paid in two halves: $300 for January through June and $300 for July through December.
The stay length is what changes and what is the biggest downside. Today you can use the credit on a one night Fine Hotels + Resorts (FHR) booking. Starting January 1, 2027, every qualifying booking needs at least two nights. The Hotel Collection already had a two-night minimum, so FHR is the one losing its exception.
Previously, I almost always tried to find the nicest FHR hotel for the cheapest price on a one night stay. This way, I could maximize its value while reducing my out of pocket cost. I don’t love this change but I understand why they’re making the change.
To use this credit you must book a prepaid hotel through AmexTravel.com. Using the credit for a one night stay that costs as close to $300 as possible, Amex is losing pretty much that entire $300. If you book a longer and more expensive stay, they are most certainly coming out way ahead.
Positive Changes
American Express has added the ability to book an Airbnb through Amex Travel along with the ability to earn 5x points on prepaid bookings. Everything is still hosted and managed by Airbnb but you will book through Amex. Additionally, prepaid Airbnb Luxe stays booked through Amex Travel now count toward the Lodging Credit. They carry the same two-night minimum. The downside to this is Airbnb Luxe are among the most expensive properties on the platform.
There's also a new Airbnb Experiences credit. If you book a prepaid Luxe stay through Amex Travel, you can unlock up to $250 per calendar year for Airbnb Experiences. You have to buy the experiences after the Luxe booking is confirmed and by December 31, but the activity itself can happen later, including the following year. Cancel the Luxe stay and the Experiences credits will be reversed.
Eligible Airbnb bookings also earn 5x Membership Rewards points on the Platinum and Business Platinum, 3x on the Amex Green (no longer open to new applicants), and 1x on all other cards.
What Isn't Changing
The two night rule only applies to the statement credit. FHR perks like daily breakfast, the property credit, and guaranteed 4 p.m. checkout aren't affected, so a one night FHR stay still gets those benefits. You just won't get the $300 back for it.
What To Do Before January
If you have unused credit left for 2026, a one night FHR stay still works through the end of this year. Book it before December 31.
My Take
This is a negative change. The one night exception made the credit easy to use. You could book a single night in a city you were passing through, or a staycation at a local property and get $300 back, and that's gone.
I'd guess Amex wants longer bookings because they bring in more revenue per reservation. Some cardholders will probably leave part of the credit unused now, which helps Amex too.
The Airbnb additions are nice, but only if you'd actually book a Luxe property. If you only stay in hotels, they do nothing for you. Stays of two nights or more are unaffected, and so are the FHR perks. If your trips are usually that long, you'll barely notice.
