After the news of Capital One Venture X changing lounge access and other items, and then Chase Sapphire Reserve upping their fee over 40%, you would hope Amex wouldn’t change much. You would be wrong…
American Express has overhauled its flagship Platinum Card, boosting the annual fee from $695 to $895 while adding a suite of new statement credits and lifestyle perks that the company values at over $3,500 annually.
This marks the card’s first fee hike in four years and its most significant refresh since 2021, when Amex first piled on statement credits to justify a jump from $550 to $695. The changes went into effect immediately on September 18, 2025, for new applicants.
When the Fee Increase Takes Effect
Existing Platinum cardmembers have breathing room before the higher fee hits. Current cardholders will not see the increased $895 fee until their next renewal date on or after January 2, 2026.
This creates a valuable window for existing cardholders to front-load credits and soften next year’s price hike. Even though annual fees may have recently posted at the $695 rate, cardholders are eligible to use the new credits immediately.
Massive Welcome Bonus
New cardmembers can see if they’re eligible for a welcome bonus as high as 175,000 bonus points after spending $8,000 on purchases in the first six months of card membership. According to industry valuations, this welcome bonus is worth up to $3,500—making it one of the highest bonuses available on any premium card.
Complete Benefits and Credits Breakdown
These credits and benefits may not be something you are looking at. Amex has become known as the coupon book of credit cards. So if you can take advantage of all of these perks you will get ahead.
Major New Dining Credit: • $400 Resy Credit ($100 per quarter) – NEW benefit for dining at over 10,000 U.S. Resy-affiliated restaurants
Enhanced Hotel Benefits: • $600 Hotel Credit (increased from $200) – Semi-annual credit for Fine Hotels + Resorts or Hotel Collection bookings through Amex Travel
Entertainment and Lifestyle Credits:
- $300 Lululemon Credit ($75 per quarter) – NEW benefit
- $200 Oura Ring Credit – NEW benefit for health-focused wearable technology
- $300 Equinox Credit (annual) – For gym memberships and Equinox+ app
- $300 Entertainment Credit (increased from $240) – Monthly credits for streaming services including Netflix, Disney+, Peacock, and more
Travel and Transportation:
- $200 Uber Cash (annual) – $15 monthly plus $20 bonus in December
- $200 Airline Fee Credit – Annual credit for baggage fees and incidentals with selected airline
- $120 Global Entry/TSA PreCheck Credit – Every 4-5 years
Premium Memberships:
- $155 Walmart+ Credit (annual membership)
- $179 Uber One Credit (annual membership)
Airport and Travel Perks:
- American Express Global Lounge Collection – Access to 1,550+ airport lounges worldwide
- 10 complimentary Delta Sky Club visits annually when flying Delta
- Centurion Lounge access
- Priority Pass Select membership
Hotel Elite Status:
- Marriott Bonvoy Gold Status
- Hilton Honors Gold Status
- Leaders Club Sterling Status
These are all great perks to holding the card. A cheaper method to get hotel elite status is adding a hotel card with a low annual fee.
Earning Structure Remains Unchanged
The Platinum Card continues to earn:
- 5x points per dollar on flights booked directly with airlines or through American Express Travel (up to $500,000 annually)
- 5x points on prepaid hotels booked through American Express Travel
- 1x points per dollar on all other purchases
The earning rates remain unchanged and frankly underwhelming for everyday spending, as Amex expects cardmembers to pair it with specialized cards like the Gold Card for dining and groceries.
Authorized User Fees
Additional Platinum cards for authorized users remain at $195 annually (no change from previous fee structure). Each authorized user receives most of the same benefits as the primary cardholder, including lounge access, hotel elite status, and statement credits.
Is the $895 Fee Worth It?
The $895 fee makes me want to jump up and scream. You have to make sure each credit makes sense for you and your family. Do the math to see if you are getting ahead. Then look at alternatives as well.
The card makes financial sense if you can utilize the major credits:
Realistic high-value scenario:
- Hotel credit: $600
- Resy dining credit: $400
- Entertainment credits: $300
- Uber cash: $200
- Airline fee credit: $200 Total easily usable credits: $1,700
Best-case scenario including lifestyle credits:
- Add Lululemon ($300), Equinox ($300), Walmart+ ($155) Total potential value: $2,455
Including premium travel benefits:
- Lounge access value: $850+ annually Combined value exceeds $3,300
Who Should Get This Card?
For those looking to get this card we have some criteria that can help you out.
Ideal candidates:
- Frequent travelers who will maximize lounge access and hotel elite status
- High-income professionals who dine out regularly at upscale restaurants
- Urban dwellers who use Uber frequently and have access to Equinox gyms
- Tech-savvy consumers who subscribe to multiple streaming services
- Status seekers who value premium experiences and exclusive access
Poor fit for:
- Budget-conscious consumers focused on earning rates over benefits
- Infrequent travelers who won’t use lounge access
- People who prefer simple cash-back rewards
- Those who don’t want to actively manage quarterly credits
Competitive Position
At $895, the Platinum Card now commands the highest annual fee among major premium travel cards, surpassing competitors like the Chase Sapphire Reserve ($795 annual fee), Capital One Venture X ($395 annual fee), and Chase Sapphire Preferred ($95 annual fee).
However, the total potential benefits now exceed those of competing cards, assuming cardholders can maximize the various credits.
Bottom Line: Premium Card for Premium Lifestyles
The refreshed Platinum Card delivers exceptional value for affluent consumers who actively engage with its ecosystem of benefits. The $200 fee increase is more than justified by the addition of $1,500+ in new credits for the right cardholder.
This card rewards the lifestyle it assumes you live, frequent travel, upscale dining, premium gym memberships, and multiple streaming subscriptions. If that describes your spending patterns, the Platinum Card offers compelling value despite its premium price.
For everyone else, the abundance of credits and requirements may feel overwhelming. Simpler alternatives like the Chase Sapphire Preferred or Capital One Venture X provide strong travel benefits without the complexity of managing multiple quarterly credits.
American Express is clearly betting that premium consumers will pay top dollar for a comprehensive lifestyle package, and early market response suggests they’re right, positioning the Platinum Card as the ultimate status symbol for affluent frequent travelers willing to actively optimize their spending for maximum benefit value.