Amex Platinum card annual fee:American Express adds over $3,500 in new perks, but the fee jumps to $695. We break down the math for finance professionals and savvy travelers.
The world of premium credit cards is a high-stakes game of value versus cost. Nowhere is this more apparent than with the newAmex Platinum card annual fee increase. While the card now boasts a staggering roster of perks valued at over $3,500, its annual fee has climbed to $695, leaving many to wonder if it’s still a smart financial decision. Read more our technology related article The History of Machine Learning: From Turing’s Vision to the AI of 2025 AJH World
As travel and lifestyle spending find a new normal in 2025, evaluating these high-tier cards is crucial. This guide dissects the updated benefits, calculates the break-even point, and helps you determine if the Amex Platinum remains a powerful tool in your financial arsenal or if it’s simply an expensive piece of metal. American Express Platinum Card benefits page.
Address the reader directly. “Let’s dive into whether this fee makes sense foryour wallet.”
The Big Change: What is the New Amex Platinum Card Annual Fee?
-
Briefly state the new fee: $695.
-
Mention the previous fee for context.
-
Explain this change applies to new and existing cardholders on their renewal date.
- Â reputable financial news source like Bloomberg or Forbes that reported on the fee increase.
Decoding the Value: A Full Breakdown of the $3,500+ in Perks
-
Core Travel Credits
-
$200 Airline Fee Credit
-
$200 Uber Cash Credit
-
$200 Fine Hotels + Resorts Credit
-
$100 Global Entry / TSA PreCheck Credit
-
-
Lifestyle & Shopping Credits
-
$240 Digital Entertainment Credit
-
$155 Walmart+ Credit
-
$300 Equinox Credit
-
$100 Saks Fifth Avenue Credit
-
-
Unquantifiable High-Value Perks
-
Centurion Lounge Access
-
Delta Sky Club Access (when flying Delta)
-
Marriott Bonvoy Gold Elite Status
-
Hilton Honors Gold Status
-
Calculating Your Break-Even Point: Does the Math Work for You?
-
Provide a simple worksheet-style example.
-
Example:Â If you use the full Uber, Airline, and Saks credits, you’ve already offset $500 of the fee.
-
Discuss the importance of organic spending vs. forcing purchases to use credits.
Amex Platinum vs. The Competition (Chase Sapphire Reserve & Capital One Venture X)
-
Use a comparison chart to evaluate key metrics:
-
Annual Fee
-
Key Travel Credits
-
Lounge Access
-
Point Earning Rates
-
Point Transfer Value
-
💡Engagement Booster (Quick Poll):
Is the new $695 Amex Platinum annual fee justified by the new perks?
-
Yes, the value is clearly there.
-
No, it’s too expensive.
-
It depends on your lifestyle.
Can you get the Amex Platinum card annual fee waived?
Typically, American Express does not waive the annual fee for the Platinum card. However, the SCRA benefit for active-duty military personnel can waive the fee entirely.
What benefits justify the new Amex Platinum card annual fee?
Benefits that help justify the fee include over $1,500 in statement credits, extensive airport lounge access (Centurion, Delta Sky Club), and elite status with Hilton and Marriott, which can be worth thousands if utilized.
When is the Amex Platinum card annual fee charged?
The annual fee is charged once per year on the anniversary month of your account opening and appears on that month's billing statement.
Is the Amex Platinum card annual fee worth it for an average person?
For an average person who travels infrequently, the fee is likely not worth it. The card is designed for frequent travelers and high-spenders who can naturally take advantage of the specific credits and perks offered.
The $695Amex Platinum card annual fee positions the card firmly in the ultra-premium category. While the number seems intimidating, the value is undeniably present for the right user. The decision hinges not on the potential $3,500+ in perks, but on how many of those credits you would use organically in your daily life and travels. By carefully analyzing your spending, you can determine if this card is a key to luxury savings or simply a costly status symbol.
What are your thoughts on the new fee? Do the benefits outweigh the cost for you? Share your analysis in the comments below!
Fariha Jannat Mou Hamilton, Founder of AJH World and a certified financial planner with over a decade of experience analyzing credit products and loyalty programs.