American Express has raised the annual fee on both the consumer and business Platinum cards to $895. That’s a $200 increase, making it one of the most expensive cards on the market (excluding the invite-only Black Card).
Earlier this year, American Express announced a refresh for its Platinum cards, a move that many of us in the rewards and credit card community anticipated— similar to what we witnessed with the Chase Sapphire Reserve during its launch and subsequent increase in annual fee.
For new applicants, the $895 annual fee applies immediately. For existing cardholders, the fee increase won’t take effect until January 2, 2026. If your renewal date is in December, you’ll pay the $695 annual fee one last time—but you’ll still have access to the new and expanded benefits now.
What’s New in the Amex Platinum Refresh
Amex has significantly boosted the perks across dining, wellness, travel, and lifestyle.
Dining
- $400 Resy Dining Credit – Up to $100 per quarter at U.S. Resy restaurants.
Wellness & Lifestyle
- $300 Lululemon Credit – Up to $75 in statement credits each quarter at Lululemon stores and online.
- $200 Oura Ring Credit – Annual credit toward the purchase of an Oura smart ring.
- $120 Uber One Membership – Annual credit to cover the cost of Uber One, providing discounted rides and free delivery benefits.
Travel
- $600 Hotel Credit – You can receive two $300 semi-annual credits on prepaid Fine Hotels + Resorts or Hotel Collection bookings made through Amex Travel. This credit is applicable for prepaid bookings at Amex Fine Hotels & Resorts or The Hotel Collection through American Express Travel®. For stays in The Hotel Collection, a minimum stay of two nights is required, while Fine Hotels & Resorts allows for a single-night stay.
- Expanded Lounge Access – More Centurion locations and upgraded access terms.
- Leaders Club Sterling status from LHW
Digital Entertainment
- $300 Digital Entertainment Credit – Up to $25 per month (enrollment required) for subscriptions such as Disney+, ESPN+, Hulu, Paramount+, Peacock, YouTube Premium/TV, The Wall Street Journal, or The New York Times.
What’s Changed (and What Hasn’t) With the Platinum Refresh
| Statement Credit | Previous | Updated |
|---|---|---|
| Hotel Credit | $200 annually | $600 annually ($300 twice per year) |
| Resy Dining Credit | — | $400 annually ($100 quarterly) |
| Lululemon Credit | — | $300 annually ($75 quarterly) |
| Oura Ring Credit | — | $200 annually (hardware only) |
| Uber One Membership | — | $120 annually (auto-renewal) |
| Digital Entertainment | $240 annually ($20/month) | $300 annually ($25/month, expanded partners) |
| CLEAR® Plus | $199 annually | $209 annually |
Other Benefits That Remain Unchanged
These popular perks are still included (enrollment required):
- Airline Fee Credit – $200 annually on incidental fees at one selected airline.
- Equinox Credit – $300 annually on eligible Equinox memberships (in-club or Equinox+ app).
- Global Entry / TSA PreCheck® – $120 for Global Entry every 4 years or $85 for TSA PreCheck every 4½ years.
- Uber Cash – $200 annually ($15 monthly + $20 bonus in December).
- Saks Fifth Avenue Credit – $100 annually ($50 twice per year).
- Walmart+ Credit – $155 annually for one Walmart+ membership (auto-renewal, excludes Plus Up).
- Hilton Honors Gold elite status
- Marriott Bonvoy Gold elite status
Limited-Edition Mirrored Card Design
American Express has also released a limited-edition mirrored Platinum Card design.
Existing members can request the new look by ordering a replacement card online. Log in here to order yours. I went ahead and requested mine—why not? It’s scheduled to arrive the first week of October.
Current Platinum Offer
If you’re considering applying, the welcome offer is up to 175,000 Membership Rewards points after spending $8,000 within the first 6 months. That’s one of the highest public offers we’ve seen on the Platinum card, making it an opportune time to apply if the refreshed benefits fit your lifestyle. Use our link here to apply today.
How the Business Platinum Compares
Compared to the personal Platinum, which now offers a broad mix of lifestyle, dining, shopping, and wellness credits, the Business Platinum refresh is narrower.
The refresh of the Business Platinum card mainly benefits companies with high spending. By reaching an annual spend of $250,000, cardholders can access up to $3,600 in statement credits. This includes $1,200 for bookings through Amex Travel and credits for ADP payroll services and other business tools. Additionally, the card now offers a higher welcome bonus: 200,000 Membership Rewards points after making $20,000 in purchases within the first three months.
For most individuals, the personal Platinum card provides more everyday value. The Business Platinum card becomes even more advantageous if your company spends a significant amount.
For full details, please refer to our comprehensive post on the Business Platinum refresh.
Amex Business Platinum Annual Fee Raised to $895 – New Benefits Added
Is the Platinum Worth $895?
The higher annual fee is steep, but the added credits and travel perks can easily outweigh it if you maximize them. Frequent diners, travelers, and digital service users will find the value. Those who don’t leverage these benefits may struggle to justify the cost.
