Your Amex Platinum hotel credit expires at the end of the year — here's what you need to do by December 31 to avoid wasting $200 in value (2023)

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• The Platinum Card® from American Express comes with up to $200 in hotel credits each calendar year.
• These hotel credits don't roll over — if you don't use them, you'll lose them after December 31.
• There's a way you can keep from losing this $200 credit — even if you don't plan to use it in 2022.
• Read Insider's guide to the best travel credit cards.

The Platinum Card® from American Express has a handy perk that gives you up to $200 off prepaid hotel stays. There are a couple of catches, however:

1. You must book your stay through either Amex Fine Hotels & Resorts (with a one night minimum) or The Hotel Collection (with a two-night minimum). These hotel portals are exclusive to Amex cardholders, and they only feature upscale four and five-star hotels.
2. You are awarded this $200 hotel credit each calendar year — and they don't roll over. In other words, you can't stockpile them; if you don't use the credit by December 31 of each year, it will expire.

Access to is a pretty big reason to open the Amex Platinum. It gives you benefits like free breakfast for two, suite upgrades when available, late checkout, and a unique property "amenity," often in the form of a $100 property credit (for food, spa, etc.).

The downside is that you can't bring the $200 hotel credits into a new year. If you were to open the card right now, you'd need to use the hotel credits before December 31, 2022, or you'd forfeit $200 in value!

In fact, itispossible to take this credit with you — with a little bit of strategy. Here's how to do it.

We're focused here on the rewards and perks that come with each card. These cards won't be worth it if you're paying interest or late fees. When using a credit card, it's important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

How to keep your Amex Platinum $200 hotel credit from expiring

The Amex Platinum comes with an annual fee of $695. But for that price tag, you'll receive benefits like:

• 80,000 Membership Rewards® points after spending $6,000 on purchases in the first six months of card membership
• Up to $200 in airline fee credits** each calendar year
• Airport lounge access (Priority Pass**, Centurion lounges, and more)
• $189 per year in credits for CLEAR membership**
• Up to $200 in Uber Cash each calendar year**
• Cell phone protection
• Up to $200 in credits per year toward prepaid hotel bookings through Amex Fine Hotels and Resorts or The Hotel Collection (minimum two-night stay)

The up to $200 in hotel credits each year is a good benefit if you can find a decently priced luxury hotel.

And while this creditdoesexpire at the end of the year, it's important to understand that you don't have to stay at a hotel by the end of the year — you just have to prepay for one. You can use your 2022 hotel credit towards a discounted hotel stay 11 months from now, if you like.

Here's what you need to do before January 1, 2023.

Step 1. Head to Amex Travel

Navigate to the Amex Travel hotel finder to search for a hotel. Again, only hotels that participate in Amex Fine Hotels & Resorts or The Hotel Collection will trigger this $200 hotel credit.

Step 2. Find a hotel that you plan to stay at next year

I'm booking the Park Hyatt Bangkok. It looks to have one of the most stunning rooftop pools on earth, and there are sub-$350 room rates aplenty. After a $200 rebate from the Amex Platinum, I'll receive a five-star hotel stay for the price of a Holiday Inn.

As you can see at the bottom of this screenshot, Amex Fine Hotels & Resorts provides benefits like a room upgrade (suites included) when available, breakfast for two, and late checkout. But each property also comes with a "unique experience credit," which differs by hotel.

The Park Hyatt Bangkok offers a $100 property credit — effectively $100 to be used for purchases at the hotel.

Step 2. Chose a realistic date

Think really hard about when you'll most likely stay at this hotel. As I'll cover, you won't be able to change your dates after December 31 without forfeiting this year's $200 travel credit.

Step 3. Book a prepaid rate to trigger your hotel credit

This $200 hotel credit is only valid for prepaid bookings.

As long as your transaction is processed in 2022, you can effectively preserve your hotel credit into 2023. You don't have to stay at a hotel in 2022 — you just have to book a hotel in 2022.

Last year, I used this credit to book a hotel on December 6 and was reimbursed $200 on December 7. The credit is extremely prompt.

Tips for using the Amex Platinum hotel credit

You cannot modify your dates

As previously alluded to, if you change your booking after December 31, your 2022 hotel credit will disappear. American Express doesn't "change" your booking dates — they cancel your reservation and make a new one. Therefore, your previous transaction will be refunded and you'll be charged all over again.

I experimented with this last year and tried to cancel and rebook my trip through Amex Travel and asked twice about this.

You cannot make changes directly with the hotel

When you book a hotel through Amex Travel, you have the opportunity to input your hotel's loyalty number at checkout. This will allow you to locate your reservation through the hotel website — instead of needing to return to Amex Travel to review your booking.

Unfortunately, you cannot change your reservation directly with the hotel, either. Nor can you upgrade your booking with methods such as Marriott's Suite Night Awards or Hyatt's Suite Upgrade Awards.

I also asked my Hyatt Concierge if I could upgrade my paid stay at the Park Hyatt Bangkok with points. Hyatt allows you to book into a suite on paid stays for 6,000 Hyatt points per night.

Here's what my concierge said.

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Bottom line

Even if you don't have any plans for using your up to $200 in hotel credits with the Amex Platinum this year, you can preserve it by prepaying for a hotel next year.

Just be sure to choose a feasible date and location, as you'll lose your 2022 hotel credit if you modify your reservation after December 31.