AmEx Platinum cardholders can potentially get the $200 airline fee credit twice in their first year - here's how

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American Express

• The Platinum Card® from American Express offers up to $200 in annual airline credits.
• Because the credits are tied to the calendar year - not your card membership year - it's possible to double-dip, or even triple-dip, the credits for your first card membership year when you open a card in December.
• The card has plenty of other benefits to make up for its $550 annual fee, especially if you're a frequent flyer - I got more than $2,000 of value my first year.

Among the many perks and benefits that come with the AmEx Platinum Card, one that provides the most tangible value is the $200 annual airline fee credit.

Unlike many of the other credits offered by the Platinum Card - up to $200 annually in Uber credits, for instance - or on other cards - a $300 annual travel credit on the Chase Sapphire Reserve, for example - the airline credit is based on the calendar year, not the card membership year.

What that means is that if you open a Platinum Card in December - early enough to get the card and spend on it before the month ends - you can actually earn the credit three times in your first card membership year: this month, next year, and before your second annual fee hits in January 2020.

Technically it would be in your first 13 months, rather than your first year. However, since the annual fee doesn't post until your first monthly billing statement, that means you could technically earn it three times covered by your first billed card member year.

When you're approved for a Platinum Card, it typically ships express and arrives within 3-5 business days, meaning there's still time to apply and use the airline credit before the year ends.

Of course, once you have the card - or if you already have it but haven't used your credits yet - you won't have much time to use the credits. Fortunately, there are a few ways to use them up quickly.

The credits are intended to be used on one airline - that you have to select each calendar year on your account management page - for things like checked bags, lounge day passes, change fees, onboard food or drinks, and other similar incidental expenses.

However, users have reported that there are a number of other things that the credits will apply to. Because these are technically not supported by AmEx, there's no guarantee that they continue to work, but as of now, they seem to.

The best "off-label" option seems to be purchasing gift cards at certain airlines, according to travel website The Points Guy (an Insider Picks affiliate partner). $50 gift card purchases at Delta seem to work (when you use the desktop website to buy them), along with Southwest and American Airlines gift cards. Flights under $100 at JetBlue and Alaska Airlines seem to count, while the best options for United and Hawaiian Airlines users may be seat upgrades for future flights.

Try Googling your airline of choice to find tips and reports on what triggers the credit. If you play your card right, you might be able to get $600 in value from just the airline credit within your first year of card membership.

Click here to learn more about the Platinum Card from Insider Picks' partner: The Points Guy.

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