Amex Platinum Card Annual Fee Increase: Here's What You Get

The Platinum Card® from American Express has always been known for its sky-high perks and equally high annual fee, but the latest refresh cranks that annual fee up to $895 (see rates and fees).

That's nearly $200 more than before and one of the most expensive mainstream rewards cards I've seen. But Amex didn't just raise the price, it's stacking on a new lineup of lifestyle and travel benefits that could add thousands in value if you actually use them.

What's changing with the Amex Platinum Card

• Annual fee increase: The fee now stands at $895. That makes the Amex Platinum Card pricier than competitors like the Chase Sapphire Reserve® ($795) and Capital One Venture X Rewards Credit Card ($395).
• Expanded credits:
  • $400 Resy Credit: Up to $100 back each quarter on eligible dining through Resy (enrollment required).
  • $600 Hotel Credit: Annual credits on prepaid Fine Hotels + Resorts® and The Hotel Collection bookings (two-night minimum on THC).
  • $300 Digital Entertainment Credit: Expanded to include more streaming and news services.
  • $300 lululemon Credit: Annual credit for eligible lululemon purchases.
  • $200 Oura Ring Credit: Toward eligible purchases of the Oura Ring health wearable.
  • Terms apply; enrollment may be required
• Exclusive experiences: Platinum Nights by Resy (curated dining events) and automatic Leaders Club Sterling Status with The Leading Hotels of the World®.

And of course, the card keeps its core benefits: access to more than 1,550 airport lounges worldwide, Hilton and Marriott Gold status, CLEAR® Plus and Uber Cash credits, and 5X points on flights booked directly with airlines or with American Express Travel® up to $500,000 on these purchases per calendar year. Terms apply; enrollment may be required.

Is it worth $895?

Yeah, $895 is a lot of money to hand over for a piece of plastic (well, metal). But if you're a frequent traveler who knows how to stack perks, it's not hard to get that back.

• Two nights booked through Fine Hotels + Resorts can unlock the $600 hotel credit, plus on-property perks like free breakfast and late checkout (terms apply).
• If you dine through Resy regularly, that's another $400 in value (terms apply).
• Add in lounge access, CLEAR, and Uber Cash, and the card easily pushes past $3,500 in annual potential value by Amex's math.

The key word there is potential. If you're not traveling often, or if you won't realistically use the credits, the Amex Platinum Card starts to feel less like a lifestyle upgrade and more like an $895 coupon book.

Who should skip it

This Amex Platinum Card refresh makes the card a tougher sell for casual users. If you prefer a straightforward rewards setup -- or you just don't travel enough to squeeze value from luxury hotels and dining perks -- you're better off with something simpler (and cheaper). Cards like the American Express® Gold Card or Capital One Venture X Card give you strong rewards at a fraction of the cost.

Who should still consider it

If you hit the airport monthly, book upscale hotels, and love curated experiences, the Amex Platinum Card is still in a league of its own. Lounge access alone can justify a big chunk of the fee, and the added dining, hotel, and lifestyle credits push the math even further in your favor.

My take

The Platinum Card® from American Express is expensive, but for the right cardholder, it's also one of the most rewarding options out there. If your lifestyle naturally lines up with the perks, you can come out way ahead. If not, $895 will sting every time the fee posts.

Check out our full review of The Platinum Card® from American Express and apply now to unlock premium travel perks, lifestyle credits, and access to experiences you won't find anywhere else.