🚨 Amex Platinum Annual Fee Hike to $895 – New Credits Incoming?

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American Express has confirmed upcoming changes to the Platinum Card, with the annual fee set to rise to $895 (effective September 18th). Alongside the increase, several new and refreshed benefits are expected:

Confirmed Changes​

  • Fine Hotels + Resorts Credit
    • Consumer Platinum: $300 every 6 months (total $600/year).
    • Business Platinum: New $300 FHR credit every 6 months.

Rumored / Expected Updates​

  • Dining: $300 Resy credit.
  • Wellness: Broader $300 credit (possibly tied to Equinox or general wellness services).
  • Rideshare: ~$240 annual credit covering Uber, Lyft, etc.
  • Entertainment: Expanded digital entertainment credits, potentially new vendors to match Chase’s StubHub/Apple TV.
  • Airline Fee Credit: Likely to remain, but loopholes (e.g. United TravelBank, Southwest) may close.
  • Lounge Access:
    • More Centurion Lounges.
    • Stricter Sky Club guesting rules (higher spend thresholds).
    • Priority Pass guesting reduced to 1 guest.
  • Hilton tie-ins: Possible new Hilton-related perks.
  • Premium Lifestyle Benefits: Potentially Centurion-style perks like PS membership, signaling Amex’s push “upmarket.”

Likely to Disappear​

  • Saks credit (Saks’ bankruptcy).
  • Peloton credit (most target customers already acquired).
  • Uber credit (partnership feels stale; Uber no longer needs incentives).

Key Takeaway​

Amex appears to be repositioning the Platinum as a more lifestyle-focused premium card for professionals who use luxury travel, wellness, and entertainment benefits. While the fee hike is steep, the refresh could deliver more usable credits compared to the old “coupon book” structure.

What is your opinion about -
  • Does the $895 fee feel justified with these changes?
  • Which credits do you think add the most real value?
  • Are you planning to keep, cancel, or newly apply for the Platinum if this refresh rolls out?
 
My pre-approval page is showing a 175k bonus points offer. Do you think I’ll actually get it if I accept? Also, is it worth contacting Amex support to see if they’ll waive the first-year fee?
I’m not sure if the Platinum benefits will really justify the $695 annual fee for me. The hotel credit is tied to premium properties, which I don’t typically book, and the Uber credits are tough for me to use.
The only perks I know I’ll definitely take advantage of are Clear Plus and the airline incidental credits. For context, I already have the Capital One Venture X.

What would you suggest in my situation?
 
I’ll probably hang on to the Amex Platinum mainly for Centurion Lounge access and the 5x on flights, but honestly, the card feels less and less usable these days.

That said, I still find it better than the Chase Sapphire Reserve.
 
I currently hold the Amex Platinum Card for Schwab, and I’ve been considering getting the Amex Business Platinum. The main reason I was holding back is that it doesn’t include the hotel credit benefit. But now it’s starting to look solid... though, of course, the annual fee is going to be huge.
 
If all those changes happen, I think the card will become even more beneficial. To be fair, it might also help reduce overcrowded lounges. I’m all in for the changes - already holding two Platinum cards.
 
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