The Amex Platinum Is Getting a Big Update Soon. Should You Apply Now or Wait?

Published on Sept. 3, 2025

Ryan Wilcox

By: Ryan Wilcox

Full-Time Personal Finance Writer

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The ever-popular Amex Platinum Card is getting a major update later this year, including new perks and likely an increased annual fee. So the question for potential cardholders becomes: When is the best time to apply?

You might think it makes sense to wait -- who wouldn't want to check out new luxury perks? But in fact, applying for The Platinum Card® from American Express now could be the best way to get value out of the card. Here's why.

Why applying now makes sense

Lock in a lower annual fee

The Amex Platinum Card already has one of the steepest annual fees on the market. By applying before the refresh, though, you'll pay the current $695 fee (see rates and fees) for your first year, even if it's increased.

Historically, both new and existing Amex Platinum Card holders have gotten access to new perks as soon as they're rolled out. That means you can enjoy the new perks without the higher price tag, letting you test-drive the updated Amex Platinum Card and decide if it's right for you long-term.

Want to lock in the current annual fee now? Read our full review of the Amex Platinum Card and apply today.

Ratings Methodology

The Platinum Card® from American Express

Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

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The Platinum Card® from American Express
4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
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4.90/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
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= Excellent
= Good
= Fair
= Poor
Credit Score: Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.
Recommended Credit Score required for this offer is: Good/Excellent
Apply Now for The Platinum Card® from American Express

On American Express' Secure Website.

Terms apply

Rates & Fees External Link Icon

Credit Score Circle with letter I in it. Falling within this credit range does not guarantee approval by the issuer. An application must be submitted to the issuer for a potential approval decision. There are different types of credit scores and creditors use a variety of credit scores to make lending decisions.

Good/Excellent

Intro APR

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APR

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Rewards Circle with letter I in it. 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

Annual Fee

$695

Welcome Offer Circle with letter I in it. 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.

  • 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
    • 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.

Get more annual credits

Many of the Amex Platinum Card's statement credits reset on a calendar-year basis. That means if you apply now, you could use your 2025 credits right away -- then use them again in early 2026.

For example, the Amex Platinum Card offers up to $200 in hotel credits each year for prepaid bookings through Amex Travel (terms apply). If that perk sticks around through the refresh, you could claim it again after the new year -- meaning you could earn it twice before your next annual fee is due.

Secure the current welcome bonus

Credit card welcome offers often change when a card is refreshed. The updated Amex Platinum Card could come with a higher bonus -- but it could come with additional restrictions or a higher spending threshold, too.

The current offer is impressive: 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.

Points are worth approximately $0.01 per point when redeemed through Amex Travel, so the max welcome offer could get you a long way toward your next getaway.

That's one of the best welcome offers I've ever seen on any card. Applying now ensures you get a shot at it, no matter what happens with the Amex Platinum Card going forward.

Why you might want to wait

If you're not sure you can earn the current welcome bonus, or you want to see whether the new perks are a fit for you, holding off on the card could make sense. The Amex Platinum Card has been one of the best travel cards on the market for years, and that's unlikely to change after the update.

You'll also want to consider if the annual fee is worth paying in the first place. The Amex Platinum Card's value largely hinges on how much you'll actually use its luxury perks. If you're not a frequent traveler, it may not be a fit.

If you are, though, applying now gives you the best of both worlds: the current annual fee and the chance to test-drive the new perks.

Still want to explore your options? Check out our list of the best luxury cards to compare features and find one that better matches your lifestyle.

Our Research Expert

Ryan Wilcox
Ryan Wilcox icon-button-linkedin-2x

Ryan is a full-time Personal Finance Writer at Motley Fool Money. He’s been covering topics like credit cards and savings since 2022, focusing on helping people who are new to the world of personal finance.