Amex Platinum cardholders will now get up to $30 per month in PayPal credits, and maxing it out is easy at popular retailers like Walmart, Target, and Best Buy

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  • Amex is offering up to $30 per month in PayPal credits to The Platinum Card® from American Express from January to June 2021.
  • No activation is required — just add the Platinum Card to your PayPal account, and select it as your payment method when you check out with PayPal
  • It's easy to make the most of this credit because PayPal is accepted by dozens of popular online retailers and services, including Walmart, Target, Home Depot, Netflix, and Uber.
  • This is yet another COVID-friendly benefit offered by the Amex Platinum, which already comes with up to $200 in Uber credits (including Uber Eats) and up to $100 in Saks credits each year.
  • Read Business Insider's guide to the best American Express cards.

Since the start of the pandemic, banks have responded to the change in consumer spending and travel habits by introducing limited-time credit card benefits and new ways to earn and redeem rewards. But at the end of 2020, many of these perks expired, including up to $40 in combined credits each month for streaming and wireless telephone purchases from The Platinum Card® from American Express.

We didn't have to wait long for a replacement benefit to arrive, and it's even more useful. From January 1 to June 30, Platinum Card members will receive up to $30 per month in statement credits toward PayPal purchases.

In total, if you max out the credit each month, this benefit is worth $180 — and it's a great way to help offset the card's $550 annual fee (See Rates). 

The Platinum Card® from American Express

American Express The Platinum Card® from American Express

After you add the Amex Platinum card to your PayPal account and set it as your payment method, select PayPal when you check out online — eligible merchants will have a PayPal button on the payment page. Log into your PayPal account with your email or phone number, and once you complete the transaction, your Platinum Card will be charged for the amount.

Amex says the credit will post to your account within 12 weeks of the transaction, but in practice, other Amex Platinum credits (such as for Amex Offers or the airline incidental fee credit) typically only take a few days to show up.

If you don't have a PayPal account, it's free to set one up and add your card. There's one major caveat to be aware of, though — you'll only receive the credit for purchases made at US merchants with a US PayPal account, and the transaction must be in US dollars.

There are a few other key details to keep in mind:

  • You'll still earn Amex Membership Rewards points for your purchase 
  • Similar to other Amex monthly credits, if you don't use the full $30 in credit each month, it won't roll over to the next — so use it or lose it
  • PayPal purchases made with authorized user cards will also trigger the credit, but the maximum is still a total of $30 per month per card account
  • Person-to-person payments, reloading of prepaid cards, and gift card purchases are not eligible for the Amex PayPal credit

Where is PayPal accepted?

Although the PayPal credit is $10 lower than the combined streaming and wireless credits Amex offered in 2020, this perk is actually a lot handier. PayPal is widely accepted for online purchases, including at retail stores, streaming services, airlines, and more.

It should be easy for most cardholders to hit the $30 threshold with purchases they'd make anyway with merchants like:

  • Walmart
  • Target
  • Walgreens
  • Home Depot
  • Best Buy
  • JC Penney
  • Netflix
  • Spotify
  • Hulu
  • Uber / Uber Eats
  • Airbnb

If you're really stuck for ways to use the credit, you don't have to let it go to waste. Many national and local charities accept PayPal, so if the end of the month is approaching and you still have credit left, consider supporting your favorite cause instead of letting it expire.

Citi Citi® / AAdvantage® Platinum Select® World Elite Mastercard®Chase Marriott Bonvoy Boundless™ Credit CardChase Chase Freedom Unlimited®

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