The Platinum Card® from American Express is getting new benefits — and a steeper price. Starting Thursday, the card’s annual fee is jumping $200 to an eye-popping $895. See Rates & Fees
The new benefits on The Platinum Card® from American Express include:
— $400 Resy dining credit*. Up to $100 in statement credits every quarter.
— $300 Lululemon credit*. Up to $75 back in statement credits every quarter.
— $200 Oura credit*. Up to $200 back in statement credits every year.
— $120 Uber One membership credit*. Up to $120 in statement credits every year.
— Premium hotel status. Cardholders receive complimentary Leaders Club Sterling status from The Leading Hotels of the World, which includes more than 400 independent luxury hotels worldwide.
American Express also boosted some existing benefits:
— $600 hotel credit*. Cardholders can receive up to $300 back in statement credits semiannually on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through AmEx Travel. This benefit was originally worth $200.
— $300 digital entertainment credit*. Paramount+, YouTube Premium and YouTube TV are now eligible for the digital entertainment credit, which increased to $25 back every month. This ups the annual credit from $240 to $300.
*Enrollment Required
[Read: Best Rewards Credit Cards.]
As part of this launch, AmEx is also revamping The Business Platinum Card® from American Express, increasing its annual fee to $895 while adding a number of new perks, like a new hotel credit and higher bonus rewards rates for business spending. See Rates & Fees
Other notable changes to both the business and consumer cards include a limited-edition mirror card design, in addition to existing card designs.
While the new and enhanced credits on the consumer card may seem enticing, it’s worth noting that you cannot use the full amounts in one go. Most new credits are doled out quarterly, which can limit your ability to take full advantage of the credits when you make large purchases.
With the consumer card’s new and existing perks, it’s clear American Express is targeting a specific type of consumer — i.e., someone who travels often, has a high income, works out and most likely lives in an urban area.
Current cardholders can expect to pay the new annual fee at their next renewal date on or after Jan. 2, 2026.
[Read: Best Travel Rewards Credit Cards.]
Alternatives Cards to Consider
The Platinum Card® from American Express now has the highest annual fee of any premium credit card (not to be confused with a luxury credit card). Remember, these types of cards only make sense if you know you can take advantage of most or all of the benefits.
You might decide to try a more affordable option that still offers some of the same benefits. For instance, the Chase Sapphire Preferred® Card packs quite a punch for its $95 annual fee. Cardholders get $50 in annual Chase Travel hotel statement credits each account anniversary year, and they enjoy travel protections like trip cancellation and interruption insurance, an auto rental collision damage waiver, and lost luggage insurance. See Rates & Fees
If airport lounge access is a must, the Citi Strata Elite? Card, which charges a $595 annual fee, offers a Priority Pass™ Select membership. Its ThankYou® Points also transfer to American Airlines, a partnership no other issuer enjoys. See Rates & Fees
Finally, if you’re an AmEx enthusiast, try the American Express® Gold Card. You’ll earn its highest bonus rewards rate on grocery purchases and dining out and receive additional restaurant and travel perks that just might offset the $325 annual fee. See Rates & Fees
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