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].

American Express is boosting the annual fee for its Platinum consumer credit card to $895 — a $200 increase — and adding about $1,500 of potential perks to help customers get over the sticker shock https://t.co/37PMoAAVwT ...