The Amex Platinum Card annual fee has been a hot topic for cardholders, especially with American Express teasing major updates for its premium consumer and business Platinum Cards set to roll out in fall 2025. As of June 17, 2025, the current annual fee stands at $695 for both versions, but speculation is swirling about a potential hike that could push it close to $1,000. This buzz stems from Amex’s announcement of its largest-ever investment in a card refresh, promising enhanced travel, dining, and lifestyle perks. Let’s dive into the latest developments surrounding the Amex Platinum Card annual fee and what they mean for you.
Will the Amex Platinum Card Annual Fee Hit Four Figures?
Industry experts are betting on a fee increase as part of the upcoming overhaul. The last hike in 2021 raised the Amex Platinum Card annual fee from $550 to $695, paired with new credits like $200 for hotels. With competitors like Chase Sapphire Reserve boosting their fee to $795, Amex may aim to keep its premium edge by charging more. Some analysts predict a jump to $895 or even $999, citing Amex’s desire to position the Platinum Card as the ultimate status symbol. However, Amex hasn’t confirmed any changes yet, leaving cardholders on edge.
New Perks to Offset the Amex Platinum Card Annual Fee?
Amex promises benefits that “far exceed” the fee, targeting younger users like Millennials and Gen Z, who drove 35% of U.S. consumer spending last quarter. Expect expanded Centurion Lounge access, with new locations opening in Newark, Salt Lake City, and Tokyo by 2026. Enhanced dining and travel credits are also likely, but some worry these will come with restrictive terms, like limited redemption windows. Here’s what could justify the fee:
- Upgraded lounge access for priority entry
- Higher travel credits for hotels or flights
- Exclusive dining perks via partnerships like Resy
- Revamped card design for a premium feel
Should You Keep Your Platinum Card?
The potential fee hike has sparked mixed reactions. Some cardholders, especially frequent travelers, say the lounge access and credits make the card worth it. Others, frustrated by crowded lounges or unused credits, are considering downgrading to cards like the Amex Gold. With changes coming, now’s the time to evaluate your spending habits and travel needs.
Stay updated on the Amex Platinum Card annual fee by checking American Express’s official site for fall 2025 announcements. Weigh the new benefits against the cost to decide if this premium card still fits your wallet.