Amex Revamps Its Platinum Card, Raises Fee to $895
- Miguel Virgen, PhD Student in Business
- Sep 25, 2025
- 5 min read
American Express has long been synonymous with luxury, exclusivity, and premium credit card benefits. Its Platinum Card has traditionally been the centerpiece of its portfolio, offering perks that appeal to frequent travelers and high-net-worth consumers. Now, in one of its boldest moves yet, American Express has raised the annual fee on the Platinum Card to $895, making it the most expensive mass-market premium credit card in its segment. This significant increase comes with a refreshed suite of benefits designed to justify the cost, but the move raises questions about whether the new perks outweigh the hefty price tag. The decision signals that American Express is doubling down on its strategy of appealing to affluent cardholders who demand lifestyle benefits that extend beyond travel. With competitors like Chase Sapphire Reserve and Capital One Venture X continuing to put pressure on the market with competitive offerings, the Platinum Card’s revamp reflects Amex’s determination to remain the undisputed leader in premium rewards.
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