New Amex Platinum Card Benefits Announced With Higher Annual Fee

American Express has unveiled a refreshed version of its Platinum Card. The annual fee has risen to $895. The card now comes with more lifestyle and travel perks. The move is aimed at young and wealthy customers.

The changes show Amex is shifting from a travel card to a luxury lifestyle brand. According to reports, the new benefits can total more than $3,500 if used fully. The update follows moves by rivals like Chase and Citibank, who also raised fees and added credits.

Expanded Amex Platinum Benefits Explained

The new Amex Platinum card benefits include a $400 Resy dining credit, $300 for Lululemon, and $200 with Oura. Hotel booking credits have been tripled to $600. Cardholders also get $300 for digital entertainment and $120 toward Uber One membership.

Business members gain even more, with up to $1,150 for Dell purchases. Points per dollar on eligible spending rise from 1.5 to 2. Customers spending above $250,000 yearly unlock higher rewards on flights and fee-free access to Amex’s payment tools.

Classic perks remain. These include streaming credits, airline fee credits, Uber rides, Saks Fifth Avenue credits, and unlimited Centurion Lounge access. The Amex app now features a tool to track rewards and booked trips more clearly.

Impact of the New Amex Platinum Card

The new Amex Platinum card is positioned as a status symbol. Many millennials and Gen Zers now view it like a luxury accessory. TikTok videos show users flaunting the card’s design and perks. Amex has even released limited edition designs to boost appeal.

Data shows that millennials and Gen Z now make up most new Platinum and Gold cardholders. They are also the fastest-growing spending groups for Amex. Dining credits and events like “Platinum Nights” target this trend directly.

But not all feedback is positive. Some cardholders say the higher fee forces them to use credits they do not need. Others complain that Centurion lounges are too crowded. Some suggest exclusivity is fading as more young users gain access.

The new Amex Platinum card benefits highlight a shift toward lifestyle value. The higher fee makes it more selective, but demand from younger users remains strong.

FYI (keeping you in the loop)-

Q1: What are the new Amex Platinum card benefits?

The new benefits include credits for dining, fitness, wellness, hotels, and entertainment. Total value can exceed $3,500 yearly if used fully.

Q2: How much is the new Amex Platinum card annual fee?

The annual fee is now $895. This is an increase of $200 from the previous cost.

Q3: Who is the Amex Platinum card targeting?

Amex is targeting millennials and Gen Z with high incomes. These groups spend more on dining and lifestyle perks.

Q4: Do old Amex Platinum perks still exist?

Yes. Existing perks like Centurion Lounge access, Uber credits, airline credits, and Saks benefits remain.

Q5: Why is the Amex Platinum card fee controversial?

Some users feel the fee is too high for credits they may not use. Others dislike crowded lounges and see less exclusivity.