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American Express to Launch Largest Platinum Card Overhaul in Fall 2025

The move aims to attract younger high spenders by deepening travel, dining and lifestyle offerings against rising competition.

Amex is meeting younger cardmembers where they want to be—like at a Coachella party in Palm Springs in 2025.
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Amex raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits.

Overview

  • American Express will unveil its biggest-ever refresh of both consumer and business Platinum cards this fall, boosting airport lounge access, dining credits and exclusive event perks.
  • Millennials and Gen Z now make up 75% of Amex’s new premium card accounts and drove a 40% surge in spending from Q1 2024 to Q1 2025, underscoring the focus on younger demographics.
  • Amex is leveraging its owned restaurant reservation platforms Resy and Tock to expand exclusive booking privileges at more than 27,000 venues worldwide.
  • The Platinum card’s $695 annual fee remains higher than the Chase Sapphire Reserve’s $550, which industry insiders expect may rise following its own upcoming refresh.
  • The overhaul is designed to counter intensifying premium-card rivalries, notably JPMorgan Chase’s imminent Sapphire Reserve update and enhancements from Capital One’s Venture X.