WASHINGTON — American Express will revamp its 34-year-old Platinum credit card with more perks and a higher annual fee.
And the new card will be metal, not plastic.
The annual fee for Platinum card members will go up by $100 to $550 a year. For existing members the higher fee will take effect on their annual renewal date on or after Sept. 1, 2017.
The card will cover up to $200 a year in airline fees, access to more than 1,000 American Express and partner airport lounges, and 5X points for flights and hotel stays.
New benefits include up to $200 in Uber rides, with a $15 monthly credit for Uber bookings and a $20 bonus in December if members link their Uber account to their Platinum card.
The credit card rewards landscape has never been more competitive than it is currently, according to CreditCards.com
The new metal Amex Platinum comes a year after another metal card with a high annual fee and long list of perks became instantly popular with consumers. JPMorgan Chase’s Chase Sapphire Reserve Card, with a $450 annual fee, was so popular, that it briefly ran out of the material used to make the metal card.
