Amex Platinum Revamp: New Perks & Higher Fee?

American Express is poised to revamp its consumer and business Platinum cards, with changes expected to roll out in a couple of weeks, according to a recent investor conference call. While initially slated for this fall, the release is now imminent. Leaks and rumors suggest significant alterations to the card's benefits and annual fee. For the consumer Platinum card, an increased annual fee of $895 is anticipated, accompanied by a substantial increase in credits. These include a $600 credit for Fine Hotels & Resorts/The Hotel Collection bookings, a $400 credit for Resy restaurant reservations, and a new $300 annual Lululemon credit ($75 quarterly). A new mirror finish design is also rumored. The Business Platinum card will also see an $895 annual fee but will lose a key benefit: the 35% airline bonus for first or business class flights booked using Membership Rewards Pay with Points through Amex Travel, unless it is on their selected qualifying airline. These changes represent a significant shift in the Amex Platinum offering. The increased annual fee might be offset by the boosted credits for many cardholders, though the loss of the airline bonus for Business Platinum cardholders will be a substantial drawback for some. While other rumored benefits, such as a Walmart cash back feature, have been dismissed as speculation, the upcoming changes promise a notable evolution of the popular Platinum cards. The impact of these changes will depend largely on individual spending habits and travel preferences.

(Source: https://dannydealguru.com/amex-platinum-cards-revamp/)