The American Express Platinum Card has long been a staple choice for frequent travelers and high spenders, known for its extensive rewards and premium lifestyle benefits. Recently, American Express announced an update to the card, introducing new perks valued at up to $3,500 annually. However, this enhancement comes with a notable increase in the annual fee, which has risen from $695 to $895.
The decision to adjust the fee has sparked mixed reactions among cardholders. Some believe that the new benefits justify the cost, while others feel the card has lost its value with the increased expense.
With the refreshed features set to take effect on September 18, 2025, cardholders can look forward to several new benefits spanning dining, travel, wellness, and entertainment. Among the highlights are enhanced dining and Resy credits. Cardholders can earn up to $100 in statement credits each quarter, totaling up to $400 annually, when using their card at U.S. Resy restaurants or for eligible purchases. Additionally, the card offers access to exclusive reservations at sought-after restaurants through the Platinum Nights program, which requires enrollment and linking the card to the Resy profile.
In terms of travel benefits, cardholders can receive up to $300 in statement credits every six months for prepaid bookings through American Express Travel at Fine Hotels + Resorts® or The Hotel Collection, which mandates a minimum two-night stay.
New lifestyle and wellness offerings include up to $120 in annual credits for auto-renewing Uber One memberships and up to $300 in Lululemon credits, segmented into quarterly allowances. Moreover, cardholders purchasing an Oura Ring using the Platinum Card can benefit from a $200 credit each year, applicable only to the ring purchase itself.
The card also delves into digital entertainment with credits worth up to $25 monthly for subscriptions to prominent services like Disney+, Hulu, and The Wall Street Journal, provided those subscriptions are charged to the card.
Moreover, American Express will continue to expand its Centurion Lounge Network, adding locations in Tokyo’s Haneda Airport and Salt Lake City International Airport. Cardholders maintain access to over 1,550 airport lounges, a significant perk for frequent travelers.
Considering the overall value, the potential $3,500 in perks can make the higher fee worthwhile for those who utilize the benefits fully. However, the practicality of achieving this maximum value may vary. Casual spenders may only tap into a fraction of the benefits, potentially just breaking even with the $895 fee. In contrast, frequent travelers who utilize the hotel credits, dining credits, and other perks can easily justify the cost, reaping rewards that significantly exceed the annual fee.
Reviewing the specifics of each benefit is essential. For instance, certain perks require enrollment or specific usage conditions to fully realize their value. The quarterly Resy credit and Lululemon benefits necessitate strategic use to ensure that cardholders take full advantage of what the card offers.
Ultimately, the American Express Platinum Card appears to offer the most significant value to those who frequently travel, dine out, and engage in lifestyle pursuits that align with the card’s new perks. Conversely, users who do not spend extensively or travel often may struggle to justify the increased fee.
While the refresh delivers appealing enhancements, it is crucial for potential and current cardholders to weigh the costs and benefits carefully. The fee increase will be in effect for consumer cardholders starting January 2, 2026, and for business cardholders after December 2, 2025. Individuals considering renewal or application for the Platinum Card must thoughtfully assess their likely engagement with the benefits against the heightened costs.
