Can I Upgrade Amex Gold to Platinum?

The Gold Card, from our partner American Express, is quite the statement. With a holistic rewards program and competitive perks, this card was designed for the high rollers, making it the ideal card for a seasoned credit cardholder seeking to reap the benefits of their large-scale spending on dining, shopping, and travel. 

Although the $250 annual fee might seem high at first glance, a closer inspection of the benefits of this shows that the fee more than pays for itself over the course of the year. If you are a new American Express Gold Card user and spend $4,000 on eligible purchases within the first six months of owning the card, you can receive 75,000 rewards points. This is quite an attractive welcome bonus, as you would ordinarily have to spend $75,000 to earn the same amount of points.

While these benefits are substantial, this card does come with large potential costs. No set spending limit with this card can create a risk of late and returned payments, leaving you with a burdensome APR. With this in mind, the Gold card should be used to make frequent purchases in a timely manner in order to maximize the benefits that come along with it.

While the Gold card is a great choice for more sophisticated credit card users who want a card that does it all, some users may find that the card no longer meets their needs and decide to upgrade to Platinum. Here is everything that you need to know.

Gold vs. Platinum

Upgrading to the Platinum Card^® from American Express comes with an increase in potential benefits and rewards, but also a higher annual fee. A quick comparison of both cards should help you decide whether the upgrade is right for you.

Eligibility Requirements and Upgrade Process

If you do decide that the Platinum card is more suited for your needs, the process is not so straightforward. Among major card issuers, American Express has some of the strictest requirements for upgrading. Users may only upgrade or downgrade to specific cards, and they must meet specific account standings and opening eligibility benchmarks. For example, you cannot upgrade until your account has been open for at least a year, and Amex will look at your credit history, payment history and spending habits when making the decision on your upgrade request. 

There are a few ways to upgrade from Gold to Platinum. First, see if you have received an upgrade offer by logging into your account and clicking “Amex Offers and Benefits”. There are a few ways to upgrade Amex Business Gold to Platinum, or at least to ask for an upgrade. Receiving such an offer does not guarantee the upgrade; you will still need to apply, and if you did not see anything in the Offers section, an upgrade is still possible. 

You can formally make an upgrade request by logging into your account, going to the “Cards” tab, selecting Business Platinum, and clicking “Apply for an upgrade,” or by calling 1-888-781-6736, entering your account number, and asking to speak to a representative.

Upgrading vs. Applying

Upgrading from Gold to Platinum is not the same as simply applying for a Platinum card. You will not be eligible for the American Express Business Platinum initial bonus of up to 100,000 bonus points if you request an upgrade rather than apply. This trade-off is something to consider when deciding to upgrade. Alternatively, one could open a new Platinum card account and then cancel the Gold card if they prefer to reap the benefits of the initial bonus. Or keep both!

Conclusion

The American Express Gold Card is a great choice for more sophisticated credit card users who want a card that does it all. Some customers may consider upgrading to the Platinum card, which increases potential benefits and rewards along with its annual fee. If this is the case, users can request an upgrade online or by calling American Express representatives. Importantly though, if one values the initial Platinum bonus, one might want to consider the option of applying for a new Platinum account instead of simply upgrading from their Gold account.