The Amex Platinum Card annual fee continues to be a hot topic in the world of premium credit cards, especially as American Express prepares for major changes later this year. As of June 2025, the current annual fee stands at $695, but industry insiders are buzzing about the possibility of an increase—potentially pushing the fee into four-digit territory for the first time ever. With American Express announcing its largest-ever investment in card benefits and a significant refresh on the horizon, cardholders and applicants are keen to understand what this means for their wallets.
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What the Amex Platinum Card Annual Fee Covers
For $695 a year, the Amex Platinum Card delivers a robust suite of luxury travel and lifestyle benefits. Cardholders enjoy airport lounge access, elite hotel status, and exclusive dining reservations through Global Dining Access by Resy. The card also offers over $1,500 in value through statement credits for travel, entertainment, and dining—making it a top choice for frequent travelers and high-net-worth individuals. Additional perks include high points multipliers on flights and hotels, and the option to add authorized users for an extra fee.
Despite the high annual fee, many users find the value exceeds the cost, especially if they maximize the available credits and benefits. For example, streaming service credits, hotel credits, and Uber Cash can significantly offset the annual expense, often leaving users with a much lower effective fee.
Will the Amex Platinum Card Annual Fee Go Up?
Recent news confirms that American Express is planning major updates to both the consumer and business versions of the Platinum Card. While the company has not yet announced the exact new fee, historical trends suggest an increase is likely. Over the past four years, the annual fee has risen from $450 to $695—a 54% jump. If a similar percentage increase is applied again, the new fee could surpass $1,000.
The timing of these changes coincides with updates from competitors like Chase Sapphire Reserve, which is also set to overhaul its card benefits and potentially its annual fee. The evolving landscape of premium credit cards means consumers should stay informed and reassess their card choices as new details emerge.
Is the Amex Platinum Card Annual Fee Worth It?
Whether the Amex Platinum Card annual fee is worth it depends on how you use the card’s benefits. For travelers who take advantage of lounge access, hotel credits, and entertainment perks, the value can far outweigh the cost. However, with the potential for a higher fee on the horizon, it’s more important than ever to evaluate your spending habits and travel needs.
Cardholders who rarely use the included credits or travel benefits may find the fee harder to justify, especially if it rises above $900. American Express emphasizes that the card is designed for those who want to maximize luxury travel and lifestyle experiences, so it’s best suited for frequent flyers and those who appreciate premium services.
Conclusion
The Amex Platinum Card annual fee remains one of the highest in the industry, but so do its benefits. With major updates expected later this year, now is the perfect time to review your card strategy. Stay tuned for official announcements from American Express, and consider how the new benefits and potential fee changes align with your lifestyle.
Ready to see if the Amex Platinum Card is right for you? Compare the latest benefits and calculate your expected value before the new annual fee takes effec