American Express has unveiled its most significant overhaul of the Platinum Card since 2021, increasing the annual fee from $695 to $895 while introducing several valuable new benefits. The refresh, which took effect on September 18, 2025, brings substantial enhancements to the card’s already extensive portfolio of credits and perks, potentially offering even more value despite the higher fee.
While the $200 fee increase might initially seem steep, the new benefits—including tripled hotel credits and substantial new dining, shopping, and lifestyle perks—could make this refresh a net positive for cardholders who can maximize these offerings. Let’s break down all the changes and assess whether the refreshed Platinum Card is worth the higher price tag.
Here’s a comprehensive comparison of the Amex Platinum Card benefits before and after the September 2025 refresh:
As the table shows, the refresh adds approximately $1,500 in potential annual value through new and enhanced credits, significantly outweighing the $200 annual fee increase for cardholders who can maximize these benefits.
The Platinum Card’s annual fee has increased from $695 to $895, representing a $200 (29%) jump. This makes it the most expensive mainstream premium credit card, surpassing the recently refreshed Chase Sapphire Reserve ($795).
The fee increase implementation follows this timeline:
This creates a valuable opportunity for existing cardholders to enjoy all the new benefits immediately while still paying the lower annual fee until their next renewal date. For many, this means 12+ months of enhanced benefits at the old fee.
The refreshed Platinum Card introduces several new credits and enhances some existing ones. Here’s a comprehensive breakdown:
The hotel credit has been substantially enhanced:
A completely new benefit leveraging Amex’s 2019 acquisition of Resy:
A new shopping credit for the popular athletic apparel brand:
An enhancement to the existing streaming service credit:
A health and wellness credit for the popular smart ring:
A supplement to the existing Uber Cash benefit:
A new hotel status benefit from The Leading Hotels of the World:
A minor adjustment to match CLEAR’s recent price increase:
Alongside the refresh, Amex has introduced a new limited-edition mirrored card design. Existing cardmembers can request this design by ordering a replacement card through their online account. Interestingly, Amex is also offering a plastic version of the Platinum Card again for those who prefer a lighter alternative to the metal card.
All existing Platinum Card benefits remain unchanged, including:
There are no changes to the card’s rewards earning structure:
For existing cardholders, here’s a strategic approach to maximize value from the refreshed Platinum Card:
With the annual fee now at $895, the value proposition of the Platinum Card depends heavily on your ability to maximize its extensive credits and benefits. Here’s a breakdown of the potential annual value from the refreshed card:
The card makes sense for those who:
However, the card may not be worth it if you:
The refreshed Amex Platinum Card has evolved further into a high-maintenance lifestyle card with an impressive array of credits and benefits. While the $895 annual fee represents a significant investment, the potential value from the new and enhanced benefits can far exceed this cost for cardholders who can maximize them.
For existing cardholders, the opportunity to enjoy all new benefits immediately while paying the higher annual fee only upon renewal creates an excellent window to test these perks and determine if the refreshed card aligns with your spending habits and lifestyle.
The most universally valuable new benefits appear to be the tripled hotel credit ($600) and the new Resy dining credit ($400), which together could easily justify the $200 annual fee increase for many users. However, the continued proliferation of credits with different redemption periods adds complexity that some cardholders may find burdensome.
Ultimately, the refreshed Platinum Card remains a premium product for those who value luxury travel perks and are willing to put in the effort to maximize its extensive benefits portfolio. For the right user, it can deliver exceptional value despite—or perhaps because of—its higher annual fee.
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