Oura Ring 5 for $199? Amex Platinum's $200 Credit Makes It Possible

If you carry an American Express Platinum Card, the new Oura Ring 5 just got significantly cheaper. The card's annual $200 Oura Ring credit applies to Ring 5 pre-orders at ouraring.com, cutting the effective price from $399 to $199 for standard finishes.

How the Deal Works

• Enroll first: Log into your Amex account and activate the Oura benefit in the Benefits section before purchasing
• Buy at ouraring.com: The credit only applies to purchases made directly on Oura's website — Amazon and third-party retailers don't qualify
• $200 statement credit: Applied automatically after purchase, typically within 2-4 business days
• Calendar year reset: If you used the credit in 2025, it has already reset for 2026

What's Covered

Hardware purchases including the Ring 5 itself qualify. The $5.99/month Oura membership, gift cards, chargers, and accessories do not qualify for the credit.

What This Means for Buyers

At an effective $199, the Oura Ring 5 undercuts the Samsung Galaxy Ring at $399 and even the subscription-free RingConn Gen 3 at $349. The catch is the $695/year Platinum annual fee — but if you already carry the card, this is the cheapest way to get the best smart ring on the market. For non-Amex holders, compare all smart ring prices in our smart ring guide.