American Express has announced a significant increase in the annual fee for its Platinum card, raising it to $895. This marks a noticeable jump from the previous rate of $695, implemented in 2021. The new fee will take effect for existing cardholders on January 2, 2026, while new applicants will be subject to the increased fee immediately. The Platinum card remains one of the most costly credit cards available.
In an effort to offer added value for this increased cost, American Express has introduced several new benefits and updates. A notable feature is an enhanced mobile app that now offers an exclusive premium black theme for Platinum cardholders, distinguishing them from users of the standard navy blue theme. However, some users on Reddit have pointed out that the difference in theme is subtle, particularly when using iOS’ Light mode.
The card comes with a wide array of perks, including a $300 credit for Lululemon, a $400 credit for Resy restaurants, a $120 Uber One credit, and a $200 credit for Oura Ring. In addition, the hotel credit previously set at $200 has been doubled to $400 annually. For frequent users of these benefits, the card might still present value, despite the hefty fee.
Overall, these enhancements and the increased annual fee are likely to appeal to those who regularly take advantage of the card’s benefits and wish to enjoy an exclusive experience with the upgraded app. The changes underline American Express’ ongoing effort to cater to a premium clientele, continuing to offer extensive benefits and a touch of exclusivity.