American Express
- Amex's new Platinum card now costs $895.Cardholders will get upgraded dining, hotel, and wellness perks, as well as an updated app.The refresh takes the luxury credit card wars to a new, pricier level.
For $895, you could get a month of rent in a midsize American city, a new iPhone 17 and a case, or the refreshed American Express Platinum card.
Amex unveiled its revamped Platinum card on Thursday, which offers expanded benefits in categories like dining, hotels, and wellness. A $200 fee hike will also go into effect at the next renewal date for existing consumer cardholders on or after January 2, 2026, and on or after December 2, 2025, for business cardholders.
The new Platinum card offers $3,500 worth of annual benefits, according to a press release.
Anthony Cirri, Amex's executive vice president of US consumer cards, told Business Insider ahead of the release that they designed new benefits based on consumer spending data and feedback. Platinum Business cardholders get their own suite of benefits, including credits with Dell and Adobe.
"It's about the price value, and I think we got that right," Cirri said, adding that he doesn't anticipate pushback to the new fee.
With this Platinum refresh, Amex Platinum surpasses the cost of the Chase Sapphire Reserve card, with its $795 annual fee.
The amount Americans pay in credit card fees has ballooned in recent years, going from $3.0 billion in 2015 to $6.4 billion in 2022, according to a 2023 report from the Consumer Financial Protection Bureau. Amex cited "continued strong card fee growth" and "strong" demand for its premium products in its second-quarter earnings.
Cirri said Amex didn't change its plans for Platinum after Chase announced its updates in June, adding that the revamped card has been in the works for around 18 months. The card has itself become a status symbol, and a limited-edition mirror design will be available for six months, or until supplies last.
"Cardmembers take pride in membership. They take pride in their physical card," Cirri said. Here are the new perks $895 will get consumer cardholders, in addition to the existing benefits.
American Express
Dining benefits
Cardholders will receive up to $400 in annual credit at Resy, the reservation platform that Amex owns. They will also have access to "Platinum Nights," where they can make reservations at certain Resy restaurants in New York, Los Angeles, and Miami.
Amex card members cumulatively spent more than $87 billion on dining in the US in 2024, according to a press release.
Travel and hotel benefits
The Platinum card is a favorite among frequent travelers, so it's no surprise that Amex boosted the hotel benefits. Cardholders can now get up to $600 worth of hotel credits at more than 3,100 hotels.
Airport lounges have become hugely popular, and Amex is expanding its footprint in the years to come. Cardholders can currently visit more than 1,550 airport lounges and 30 Centurion lounges. Amex plans to open new Centurion lounges in Salt Lake City, Newark, and Amsterdam by the end of next year.
Lifestyle and wellness benefits
Cirri said that consumer spending data and focus groups revealed increased interest in wellness among cardholders, especially millennials and Gen Z. The new card offers $300 worth of Lululemon and $200 worth of Oura Ring credits annually.
Outside the wellness space, cardholders can get up to $120 in credits after buying an auto-renewing Uber One membership. Amex is also adding Paramount+, YouTube Premium, and YouTube TV to its digital entertainment credit, which has increased to up to $300 each year.
A revamped app
The Amex app is getting a refresh, too — according to Cirri, it will feel "more premium, more customizable, more platinum."
Cardholders can enroll in and track benefits, browse Resy restaurants, and look into travel opportunities.
