American Express Raises Annual Fee for Platinum Card to $895
American Express has increased the annual fee for its Platinum card to $895, effective immediately for new cardholders and starting January 2, 2026, for existing cardholders. This marks a significant jump from the previous fee of $695, implemented in 2021, as consumers weigh the cost against the card’s benefits, reports 24brussels.
The rise in fees aims to enhance the value proposition for cardholders, who will receive benefits including increased shopping credits and a series of new features in the American Express mobile app. Among these is an exclusive premium theme that allows cardholders to switch their app’s appearance to a darker design.
Despite the app’s aesthetic change, customer reactions suggest that the difference may be subtle and less noticeable in light mode settings. The new perks also include a $300 credit for Lululemon purchases, a $400 dining credit for the Resy service, a $120 credit for Uber One, a $200 credit for Oura Rings, and an increase in hotel credits from $200 to $400 annually.
For those who frequently utilize these benefits, the enhanced offerings could justify the fee increase. As Platinum cardholders now pay a premium for their privileges, American Express continues to adapt to market demands, balancing competitive pricing with the need for exclusive customer experiences.