## Amex Platinum Card Gets a Makeover: Is it Worth the Price?
American Express is upping the ante in the premium credit card market with a refreshed Platinum card. Here’s a breakdown of the changes:
- Higher Annual Fee: The consumer and business versions of the Platinum card now have an $895 annual fee, a significant increase from the previous $695.
- Increased Benefits: Cardholders can now access up to $3,500 in annual benefits, more than double the previous amount. These benefits come in the form of credits for purchases at places like Uber, Lululemon, Oura, Resy, Dell Technologies, and Adobe, along with enhanced hotel and streaming perks.
- Competitive Landscape: This move is part of a broader trend, with competitors like JPMorgan Chase and Citigroup also updating their premium card offerings to attract high-spending consumers.
- Focus on Wealthy Consumers: Card issuers are targeting the top 10% of income earners, who are driving a significant portion of overall spending.
- Potential Drawbacks: Some users have expressed concerns about the “coupon book” approach, where maximizing benefits requires actively using the card and keeping track of various credits.
- New App Feature: American Express is introducing a new app feature to simplify the process of accessing and utilizing the card’s benefits.
- Fee Implementation: Existing cardholders will see the new annual fee applied upon renewal starting January 2nd.
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Source: https://www.cnbc.com/2025/09/18/american-express-platinum-card-refresh-895-fee-3500-perks.html