Core Insights - American Express (Amex) has launched a revamped Platinum card with expanded benefits and a new annual fee of $895, which is a $200 increase for existing cardholders starting from January 2, 2026, for consumer cards and December 2, 2025, for business cards [1][2][3] Company Overview - The new Platinum card offers $3,500 worth of annual benefits, designed based on consumer spending data and feedback [2] - The card has been in development for approximately 18 months, and Amex did not alter its plans following Chase's updates in June [5] Industry Context - The amount Americans pay in credit card fees has increased significantly, from $3.0 billion in 2015 to $6.4 billion in 2022, indicating strong demand for premium credit products [4] - Amex reported "continued strong card fee growth" and robust demand for its premium offerings in its second-quarter earnings [4] Product Features - The new Platinum card includes enhanced dining, hotel, and wellness perks, along with an updated app [7] - Cardholders will receive up to $400 in annual credit at Resy, and access to exclusive dining reservations in major cities [6]

Core Viewpoint - American Express Co. (Amex) is increasing the annual fee for its Platinum consumer credit card to $895, marking a $200 rise, effective from December 2, 2025, and January 2, 2026, depending on the user [1][2]. Summary by Sections Fee Increase - The new annual fee for both U.S. Consumer and Business Platinum Cards will be $895, with the increase taking effect at the next renewal date for cardholders who opened accounts before September 18, 2025 [2][5]. New Benefits - The Platinum card now offers over $3,500 in value, including $400 a year in dining credits at Resy restaurants, up to $300 for expenses at Lululemon Athletica Inc., and $200 towards the purchase of health-focused Oura rings [2][3]. Enhanced Credits - The maximum annual credit for bookings through the Fine Hotels & Resorts collection is increasing to $600 from $200. Additionally, the digital-entertainment credit is boosted to $25 a month, and cardholders will receive $120 in statement credits each year for an auto-renewing Uber One membership, alongside the existing $200 Uber Cash benefit [4]. Existing Benefits - All existing benefits will continue or be improved, including credits for Clear Plus, airline fees, Walmart memberships, and a $50 gift card for Saks Fifth Avenue offered semi-annually. Business Platinum cardholders will also receive enhanced perks, including a $600 hotel credit [5]. Market Position - The 29% fee hike positions Amex Platinum among the highest tier of premium consumer credit cards, surpassing the $795 fee for JPMorgan Chase's Sapphire Reserve card and Amex's own Delta SkyMiles Reserve card, which costs $650 annually [5]. Consumer Spending Insights - Wealthy customers, representing the top 10% of earners, contributed over 49% of total expenditures last quarter, indicating a significant market for premium credit cards [6].

Core Points - The Platinum Card® from American Express has been refreshed with new perks and enhanced benefits, including a welcome bonus of up to 175,000 Membership Rewards® Points after spending $8,000 in the first six months and up to $600 annual hotel credit on select prepaid hotel bookings through Amex Travel [1][33] - The annual fee has increased to $895, making it essential for users to evaluate the card's benefits, which can potentially exceed $3,500 in annual value [2][34] New and Enhanced Benefits Overview - Enhanced hotel credit allows users to receive up to $300 back in statement credits each half of the year on prepaid Fine Hotels + Resorts or The Hotel Collection bookings through Amex Travel, with a medium usability score [4][7] - Enhanced digital entertainment credit provides up to $25 back each month on various streaming services, making it easy to use [5][8] - New Resy credit offers up to $100 back per quarter on purchases at Resy restaurants, with a medium usability score due to limited availability in some markets [6][9] - New lululemon credit provides up to $75 back per quarter, but has a medium usability score as it may be challenging to find suitable items [9][15] - New Uber One credit offers up to $120 annual credit for an Uber One membership, which is easy to use [11][15] - New Oura credit allows for up to $200 back in statement credits for purchasing an Oura Ring, but has a hard usability score due to the high cost of the product [12][15] - New hotel elite status with The Leading Hotels of the World provides benefits for those who stay at its properties, but has a hard usability score [14][16] Additional Credits - Existing credits include up to $200 annual airline fee statement credit, which has a medium usability score [22][23] - CLEAR Plus statement credit covers the cost of an annual membership, with easy usability [19][23] - Walmart+ statement credit offers up to $155 annual credit, which is easy to use [20][23] - Uber Cash provides up to $200 annual credit for Uber rides or Uber Eats orders, with easy usability [24][23] - Saks Fifth Avenue credit offers up to $100 annually, but has a medium usability score due to high prices [30] Conclusion - The Amex Platinum Card can provide significant value if users can effectively utilize its benefits, despite the high annual fee [34][36] - Many benefits have specific requirements that may limit their usability, which is a notable concern for potential cardholders [34][36]

Group 1 - American Express has increased the annual fee for its platinum card by nearly 30%, from $695 to $895, marking the first update since 2021 [1] - To justify the higher fee, American Express is adding perks valued at over $3,500 annually, including $600 in hotel credits, $400 in dining credits, $300 in Lululemon credits, and $200 towards an Aura ring, along with additional benefits like lounge access and TSA Pre-Check [2] - Chase has also raised its Sapphire Reserve fee by nearly 45%, from $550 to $795, prompting questions about whether high spenders find sufficient value in these premium cards [3]

Membership still has its privileges—now at a higher price. 🔗 https://t.co/iQho2JIKalAmerican Express is raising the annual fee on its Platinum credit card. Here are the details on what is now the priciest card in its segment, and how it compares with its competition. https://t.co/vQqCDAHM5G ...

Core Insights - American Express is significantly updating its Platinum Card and Business Platinum Card, introducing a new design and increased annual fees while enhancing benefits and credits [1][2][3] Group 1: Annual Fee Changes - The annual fee for the Amex Platinum Card will increase to $895, marking a $200 rise from the previous fee of $695 [2][3] - This is the first fee increase since 2021, when the fee rose from $550 to $695 [3] Group 2: Enhanced Benefits - Cardholders can now access over $3,500 in annual benefits, a substantial increase from the previous claim of over $1,500 [4] - The hotel credit has been enhanced to provide up to $600 in statement credits each year for prepaid bookings through Amex Travel, up from $200 [9][15] - New complimentary Leaders Club Sterling Status will be available, offering benefits at over 400 luxury properties worldwide [10] Group 3: Additional Annual Credits - New annual credits include up to $400 for dining through Resy, up to $300 for digital entertainment, up to $300 for Lululemon purchases, and up to $200 for Oura Ring purchases [16] - Existing benefits such as airline incidental credits and CLEAR Plus credits will remain intact, adding to the overall value of the card [12] Group 4: Business Platinum Card Updates - The Business Platinum Card will also see its annual fee rise to $895, with enhanced benefits for business travelers [21] - New credits for the Business Platinum include up to $600 for hotel bookings and up to $3,600 in credits for flights and Amex's One AP tool after meeting spending requirements [24] Group 5: Rewards Structure - The rewards structure for the Business Platinum Card will now offer 2x points on eligible purchases in key business categories and for purchases of $5,000 or more, up from 1.5x points [26]

Core Insights - American Express has updated its Platinum card offerings and increased the annual fee to $895 from $695, reflecting a $200 increase [2][4] - The changes come in response to competitive moves from other credit card issuers, including JPMorgan Chase and Citigroup, who have also raised fees and updated their premium card offerings [3][4] - The updated Platinum card promises over $3,500 in annual value, including significant credits for travel and dining [4] Company Updates - The new annual fee for the U.S. consumer and business versions of the Platinum cards is now $895, up from $695 [4] - The personal card offers up to $400 in restaurant credits and up to $300 in Lululemon credits, while the business card includes up to $1,150 in Dell Technologies credits and $250 with Adobe [5] - Successful applicants can earn a welcome bonus of up to 175,000 Membership Rewards points on the personal card and up to 250,000 points on the business card, contingent on meeting spending thresholds [6] Market Performance - American Express shares rose by 2.7% in the Dow Jones Industrial Average and continued to rise in premarket trading following the announcement of the updated card [6]

Group 1 - American Express has increased the annual fee for its high-end Platinum card to $895 from $695, representing a $200 increase [2] - The company has added new perks to the Platinum card, including a $400 dining out credit and a $600 hotel credit, aimed at attracting upscale consumers and businesses [2]

American Express unveiled long-awaited upgrades to its U.S. Platinum cards on Thursday, adding new perks worth over $3,500 annually while raising the annual fee by $200. ...

Core Insights - American Express has introduced significant enhancements to its U.S. Consumer and Business Platinum Cards, which are now available immediately [1] - The updated Platinum Cards provide expanded lifestyle and business benefits, offering access to over $3,500 in annual value [1] - A limited-edition mirror card design has also been launched as part of these enhancements [1] Summary by Category Lifestyle Benefits - The enhancements build on existing benefits for Consumer and Business Platinum Card Members, providing even more value in relevant categories such as travel, dining, and entertainment [1] Business Benefits - The updated cards are designed to cater to both consumer and business needs, reflecting a focus on maximizing value for cardholders [1]