Act Fast: 3 Reasons It Pays to Apply for the Amex Platinum Before Its Big Coming Refresh
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A couple of months ago American Express announced major updates are coming to both the consumer and business Amex Platinum Cards later this year.
As someone who's been tracking the rumors and watching luxury cards like a hawk, I've got a pretty good sense of how these refreshes usually go. If I had to bet my reputation on it, I'd say The Platinum Card® from American Express refresh is going to deliver more value -- not less.
That's a win for anyone who gets in early. There's a good chance you'll score the new perks without the new (rumored) price tag (at least for a while).
1. Lock in the current annual fee before it increases
Right now, the Amex Platinum Card charges a $695 annual fee (see rates and fees). But that's likely to increase with the upcoming refresh.
During the Q2 2025 earnings call, Amex reported that net card fees rose 20% year over year. CEO Stephen Squeri didn't drop any specifics about the Amex Platinum Card refresh, but talked a lot about the strong demand for premium products and how well they're performing in today's market.
Amex is smart to follow the demand, and historically, big refreshes like this one tend to come with bigger price tags.
We've seen it before, too. In 2021, Amex raised the Amex Platinum Card's fee from $550 to $695 when it rolled out new lifestyle perks. And in more recent news, the refreshed Chase Sapphire Reserve® (see ) bumped up its fee to $795.
Nobody knows exactly how much the Amex Platinum Card fee will change -- although some speculate it will be in the $895-$995 range.
Applying now could lock in the current fee through at least your first renewal. This gives you a full year to enjoy the existing perks (and potentially all the new ones) before any price hike.
2. Snag a huge welcome offer while you can
You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
If the Amex Platinum Card has been on your radar, it's worth checking what offer you're eligible for before the refresh rolls out and terms potentially change.
Welcome offers can disappear or change when a product gets refreshed. So if you wait, you might miss your shot at this elevated bonus.
On American Express' Secure Website.
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Rewards Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®. 1X Membership Rewards® Points on other purchases. Terms apply.
1X-5X Membership Rewards® Points
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Welcome Offer You may be eligible for as high as 175,000 Membership Rewards® Points after spending $8,000 in eligible purchases on your new Card in your first 6 months of Membership. Welcome offers vary and you may not be eligible for an offer.
As High As 175,000 points. Find Out Your Offer.
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This luxury travel card has some of the most prestigious perks you'll find — access to over 1,400 airport lounges, elite status with Hilton and Marriott Bonvoy (enrollment required), and spending credits worth over $1,500 in value every year. Just be ready for the hefty annual fee, which can be offset in the first year with a welcome offer. Terms apply.
Read Full Review -
- Big welcome offer
- Substantial spending credits
- Airport lounge access
- Hotel benefits
- Flexible travel points
- Annual fee
- Limited bonus categories
- Spending credits can be complicated to manage
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- You may be eligible for as high as 175,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel®.
- $200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
- $240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney+ bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
- Enjoy the benefits of the Global Lounge Collection, with over $500 of annual value if you visit Centurion Lounges and each of our partner lounges including Delta Sky Club® lounges when flying an eligible Delta flight (subject to visit limitations) , select Lufthansa lounges when flying Lufthansa, Plaza Premium lounges and Escape Lounges, and enroll in Priority Pass Select. See terms.
- A Walmart+ membership can get you free shipping with no order minimum on eligible items shipped by Walmart. Use your Platinum Card® to pay for a monthly Walmart+ membership (subject to auto-renewal) and receive one statement credit for up to $12.95 (plus applicable taxes. Plus Ups not eligible) each month. Free Shipping excludes most Marketplace items, freight & certain location surcharges. Paramount+ Essential plan only, separate registration required.
- $200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card® Account. American Express relies on airlines to submit the correct information on airline transactions to identify incidental fee purchases. If you do not see a credit for a qualifying incidental purchase on your eligible Card after 8 weeks, simply call the number on the back of your Card. Qualifying airlines are subject to change. See terms & conditions for more details.
- $200 Uber Cash: Platinum Card® Members can ride or dine in style with $15 in Uber Cash each month, plus a bonus $20 in December after adding their Card to their Uber account. Use your Uber Cash on rides and orders in the U.S. when you select an Amex Card for your transaction.
- $199 CLEAR® Plus Credit: CLEAR® Plus helps get you to your gate faster by using unique facial attributes to verify you are you at 50+ airports nationwide. Receive up to $199 in statement credits per calendar year after you pay for your CLEAR Plus Membership (subject to auto-renewal) with the Platinum Card®.
- Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
- Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
- Use Global Dining Access by Resy to access premium dining experiences. Receive Priority Notify and unlock insider access to some of the world's most sought-after restaurants with Global Dining Access by Resy. Download the Resy iOS app or log into Resy.com and add your Platinum Card® to your Resy profile to take advantage of your special benefits and discover restaurants near you.
- $695 annual fee.
- Terms Apply.
And one important reminder: Welcome offers only make sense if you can meet the minimum spend requirement with your normal expenses. So don't chase the bonus if you don't have the required natural spending already lined up within the offer period.
3. You might "double-dip" on annual credits
This is one of the slickest reasons to get in before the refresh. Several of the Amex Platinum Card's credits reset every calendar year -- not based on your card anniversary.
So if you apply in late 2025, you could potentially use these benefits twice before your first annual fee hits.
Annual credits such as the $200 airline fee credit (for incidentals) and the $200 hotel credit reset every January 1st (terms apply, enrollment may be required). So using these in full during the remainder of 2025, and again in the first half of 2026 would mean an extra $400 in value before your first account renewal.
The upcoming refresh is likely to include even more annual credits, which could mean more value through the end of 2025.
Applying now could be a smart move
If the Amex Platinum Card was already on your wishlist, don't let the upcoming refresh hold you back.
Yes, change is coming. But acting early could mean you enjoy the best of both versions. You get today's known perks and tomorrow's upgraded ones.
Curious if the Amex Platinum Card fits your wallet and lifestyle? Read our full review to see if it's the right move for you.
Our Research Expert
Joel is a full-time Personal Finance Writer at Motley Fool Money, known for his clear, approachable voice on topics like credit cards, savings hacks, and side hustles. He’s been writing about money since 2018 and previously managed editorial content for the How To Money podcast.
Editorial Note: This content is not provided by American Express. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by American Express.
For rates and fees for the The Platinum Card® from American Express, click here