American Express Platinum Adds New Walmart+ & Useless SoulCycle Benefit

As rumored American Express has added new benefits the American Express Platinum card. The benefits are as follows:

• Walmart+ monthly credit. Cardholders will receive a $12.95 credit (covers the full cost of membership)
• SoulCycle At Home Bike Credit. Cardholders can receive a $300 credit when purchasing a SoulCycle bike (up to 15 bikes per year).

The SoulCycle at home bike costs $2,500 and you need to make the purchase in a single purchase to qualify (e.g you can’t use the credit multiple times for the same bike). You also need Equinox+ membership to use the SoulCycle. Basically the SoulCycle benefit is useless. The Walmart+ credit is useful as it covers the full membership, although Walmart+ membership itself isn’t that interesting offering:

• Unlimited free deliveries on orders from 4,700 stores
• Discounts at Walmart and partner gas stations (Murphy USA and Murphy Express fuel stations). Discounts of up to 5¢ per gallon
• Access to scan & go in store (e.g scan items in store and exit without visiting a cashier. Pay via Walmart Pay)

In my opinion the only reason American Express adds benefits such as SoulCycle is so that ridiculous claims can be made (over $4,500 in SoulCycle value added). Walmart+ membership seems to cheapen what is a premium card as well.