One of the top premium cards, the American Express Platinum Card® offers many lifestyle-centered benefits and statement credits. Those include many health- and fitness-centered benefits, including the newly added Oura Ring statement credit for up to $200 per calendar year (enrollment is required).
With the new year fast approaching, now’s a great time to start paying closer attention to your health and wellness.
Here’s what you need to know about the Amex Platinum’s Oura Ring statement credit to help you do that.
Overview of the Amex Platinum Oura Ring statement credit
As part of the recent Platinum Card refresh, a new Oura Ring statement credit was added. Cardmembers receive up to a $200 Oura Ring statement credit each calendar year. This statement credit applies to ring purchases only and doesn’t cover subscriptions. (Enrollment is required.)
What is the Oura Ring?
The Oura Ring is a wearable, health-tracking smart ring. Some key data it tracks includes:
- Activity level
- Body temperature
- Calories burned
- Heart rate
- Readiness score
- Sleep metrics
- Steps
- Stress balance
Imagine an Apple Watch or Fitbit, but in ring form. The Oura Ring 4 starts at $349. While this credit won’t fully cover the cost of a ring, it will get you more than halfway there. One notable advantage of the Oura Ring is that you don’t have to charge it as often as other wearables — it only needs to be charged every few days.
Related: The best credit cards to maximize fitness spending
How to use the Oura Ring credit
Using this statement credit is easy.
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- First, you’ll want to log in to your Amex account and go to the benefits section under “Membership.”
- Look for “Oura Ring Credit” and enroll.
- Once enrolled, go to the Oura Ring website and purchase any ring and just pay with your Platinum Card.
Amex states that the statement credit should post within eight weeks, but some TPG staffers have seen it post much faster.
Related: Why the new Amex Platinum changes are converting me to a cardmember
Is the Platinum Card Oura Ring credit worth it?
This statement credit is a more niche perk that not all cardmembers will be able to use. For starters, many people may prefer other forms of wearables. If health data doesn’t interest you, this credit won’t move the needle either.
One of the biggest issues is that many cardmembers may not be able to use this credit organically. Many may feel they are just buying an Oura Ring because it’s an offered benefit. Plus, the fact that the credit doesn’t cover the full cost of the ring may also deter some cardmembers since you’ll still have to pay at least $149 out of pocket.
Additionally, most people probably don’t buy new Oura Rings every year, so they may not be able to use this credit annually.
If you don’t think you’d use the credit yourself, you could gift a ring to one of your health- and fitness-minded friends or family members.
I hope Amex expands credit for this in the future to cover the $5.99 monthly or $69.99 annual subscription, which is needed to fully maximize the features of your Oura Ring.
It’s also important to note that this is a shared statement credit, meaning authorized users do not receive their own.
This sole statement credit shouldn’t be the deciding factor on whether you add this card to your wallet, but if you can use it organically, it can help recoup some of the Platinum’s $895 annual fee (see rates and fees).
Related: Complete guide to authorized users on the Amex Platinum Card
Bottom line
The addition of the Oura Ring statement credit is great for Platinum Card members who prioritize health and fitness. If tracking your health and fitness metrics interests you, this statement credit can be a great way to help recoup some of the annual fee.
However, it would be ideal if this statement credit were expanded in the future to cover the subscription cost, as this would make it more accessible for more cardmembers to use year after year.
To learn more, check out our full review of the Amex Platinum Card.
Apply here: American Express Platinum Card
For rates and fees of the Amex Platinum, click here.