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22m ago

Amex Platinum Refresh Sets $895 Fee With New Credits and Big Bonuses

Analysts urge applicants to verify that the enrollable credits really offset the fee given the high spending thresholds.

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Overview

  • American Express has launched revamped consumer and business Platinum cards at $895 a year, introducing a redesigned card and an updated app to surface benefits and enrollments.
  • New dining and hotel perks include up to $400 annually at Resy restaurants structured as $100 per quarter and up to $600 in Fine Hotels + Resorts credits structured as $300 twice a year.
  • Added retail and wellness credits feature Lululemon at $75 per quarter (up to $300), Saks Fifth Avenue up to $100 per year, Walmart+ at $12.95 monthly, and up to $200 back on Oura Ring purchases, with entertainment partners now including Paramount+, YouTube Premium and YouTube TV.
  • The consumer Platinum is being marketed with an offer as high as 175,000 Membership Rewards points after $8,000 in six months and the Business Platinum carries a 200,000‑point offer after $20,000 in three months, with targeted eligibility and Amex’s once‑per‑lifetime rule in effect.
  • Coverage places the move within a broader premium-card reset as competitors raise fees or tighten perks, including Chase Sapphire Reserve to $795 and Capital One’s lounge guest policy changes, with experts warning that carrying balances can erase any net value.