On September 18, 2025, American Express unveiled updates to its Platinum Card, increasing the annual fee from $695 to $895 but adding perks valued at roughly $3,500.
New benefits include a $600 annual hotel credit (up from $300) via AmEx's travel portal, $400 for Resy reservations, $300 for Lululemon, and an enhanced $300 digital entertainment credit for streaming and news.
Existing perks like $200 airline fee credit and Saks shopping remain.
Howard Grosfield, AmEx's US Consumer Services president, justified the hike by emphasizing benefit value exceeding the fee.
The card now features a high-gloss mirrored finish.
Experts like Ryan Smith from UpgradedPoints deem the upgrades worthwhile, especially for lounge access and hotel credits.
Once a niche product for elites, the Platinum Card now competes with Chase Sapphire Reserve, Citigroup Strata Elite, and others in the premium rewards space.
AmEx highlights its extensive restaurant network (10,000 vs.
Chase's hundreds) and lounge partnerships.
Chase responded by tweaking Sapphire Reserve rewards for flexibility.
This refresh underscores the evolving credit card landscape tied to loyalty programs, with 70-80% of cards now linked to such schemes.
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