Amex Platinum Refresh: Annual Fee Increase and New Benefits Explained (2025 Update)
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Introduction
American Express has officially announced a major refresh to The Platinum Card® and Business Platinum Card®. Along with upgraded benefits worth thousands of dollars, the annual fee is increasing from $695 to $895 starting in 2026 for existing cardholders.
If you’re wondering whether the higher annual fee is worth it — or what exactly is changing — this guide breaks it all down.
The New Annual Fee
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Old annual fee: $695
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New annual fee: $895 (a $200 increase)
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Effective date: For existing cardholders, the new fee kicks in on their renewal date on or after January 2, 2026.
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New applicants: Will pay the $895 fee right away.
New Amex Platinum Card Benefits
American Express is justifying the higher annual fee by adding over $3,500 in annual perks (if fully used). Here’s a breakdown of the biggest updates:
| Benefit | Previous Value | New Value (2025 Refresh) |
|---|---|---|
| Hotel Credit | $200 annually | $600 annually — $300 every six months for prepaid bookings through Fine Hotels + Resorts and The Hotel Collection |
| Dining Credit (Resy) | N/A | $400 annually — $100 per quarter at participating Resy restaurants |
| Digital Entertainment Credit | $240 annually | $300 annually — $25 per month toward eligible streaming and digital subscriptions |
| Lululemon Credit | N/A | $300 annually — $75 quarterly for Lululemon purchases (in-store or online) |
| Oura Ring Credit | N/A | $200 annually toward purchases of Oura Ring smart health wearables |
| Uber One Membership | Basic Uber Cash benefit | $120 annually toward Uber One membership |
| Existing Perks (unchanged) | Lounge access, 5x points on flights and Amex Travel hotels, elite hotel status, Global Entry/TSA PreCheck credit, Saks Fifth Avenue credit, Equinox credit, Walmart+ credit, and more | Still included |
Who Benefits the Most?
The Amex Platinum refresh is great for frequent travelers, foodies, and lifestyle spenders.
✅ Best for:
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Frequent travelers who maximize hotel and airline perks
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Diners who can take advantage of $400 in Resy credits
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Shoppers who already spend at Lululemon or plan to use Oura Ring
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Streamers and digital subscription users who’ll use the $300 entertainment credit
❌ Not ideal for:
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Casual travelers who don’t book premium hotels or flights
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People who won’t use lifestyle credits like Lululemon or Oura Ring
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Those looking for a simple, low-maintenance rewards card
How to Maximize the New Benefits
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Enroll for credits early — most new perks require activation through your Amex account.
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Plan spending by quarter/half-year — many credits reset every 3 or 6 months (Resy, Lululemon, hotel).
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Use Fine Hotels + Resorts strategically — book prepaid stays for the $600 hotel credits plus free upgrades and perks.
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Stack perks with existing rewards — pair Uber Cash, Uber One, and dining credits for maximum savings.
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Compare with competitors — the Platinum Card now costs more than the Chase Sapphire Reserve ($550), but offers richer lifestyle credits if you use them.
Is the Amex Platinum Still Worth It?
With the refresh, the Amex Platinum has moved further into the luxury travel and lifestyle segment. The card is worth $895 annually if you:
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Travel several times per year and value premium perks
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Dine out frequently at Resy restaurants
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Shop or spend at Lululemon, Uber, and digital platforms
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Want elite hotel status, lounge access, and peace of mind while traveling
If you don’t maximize these benefits, the higher annual fee may outweigh the rewards. In that case, a mid-tier travel card like the Amex Gold Card or Chase Sapphire Preferred might be a better fit.
Final Thoughts
The Amex Platinum refresh (2025) brings a $200 annual fee increase but adds over $3,500 in potential value through expanded lifestyle and travel benefits. For luxury travelers and premium card users, this card still delivers unmatched perks.
But if you’re not planning to fully leverage the credits, consider whether you’d be better served by a lower-fee alternative.
FAQs
1. When does the new $895 fee take effect?
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January 2, 2026, for existing members. New applicants will pay immediately.
2. Do I need to enroll for the new credits?
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Yes, most credits (Resy, hotel, Lululemon, entertainment) require activation.
3. Is the Amex Platinum still the best premium travel card?
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For frequent travelers who use luxury perks, yes. But if you don’t maximize the credits, consider Chase Sapphire Reserve or Amex Gold.
👉 Bottom Line: The American Express Platinum Card refresh is all about premium experiences. At $895, it’s only worth it if you’ll take advantage of the new perks.
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