American Express has announced a significant refresh for its prestigious Platinum Card and Business Platinum Card, set to launch in fall 2025. Described as the “largest investment ever in a Card refresh,” these updates aim to enhance the card’s appeal, particularly to younger generations, while maintaining its position in the competitive premium credit card market. With details still emerging, here’s what we know about the upcoming changes and what they mean for cardholders.
Major Updates Planned for Fall 2025
On June 16, 2025, American Express (NYSE: AXP) announced major updates to its U.S. Consumer and Business Platinum Cards®. The company has called this its “largest investment ever in a Card refresh,” suggesting a comprehensive overhaul of benefits and features. While specific details will be revealed closer to the fall 2025 launch, the announcement signals significant enhancements to one of the most iconic premium credit cards on the market.
The timing of the announcement is notable, coming shortly after Chase revealed plans to refresh its premium card lineup, including the Chase Sapphire Reserve and a new business version (Thrifty Traveler). Industry experts suggest American Express may be strategically positioning its Platinum Card to maintain its competitive edge.
Enhanced Benefits in Key Areas
American Express has indicated that the updates will focus on improving three key areas: airport lounge options, dining programs, and hotel programs. These are central to the Platinum Card’s value proposition, offering cardholders exclusive access and perks that enhance their travel and lifestyle experiences. The company has promised that the new benefits will provide value “far exceeding” the current annual fee of $695 (CNBC).
Core benefits, such as access to American Express Centurion Lounges and credits for TSA PreCheck® or Global Entry, are expected to remain, as they are fundamental to the card’s appeal (Thrifty Traveler). However, new statement credits, such as a potential quarterly Hilton credit similar to those offered on the Business Platinum Card, may be introduced to further enhance the card’s value.
| Benefit Area | Current Features | Expected Updates |
|---|---|---|
| Airport Lounge Access | Access to Centurion Lounges, Priority Pass, and other partner lounges | Expanded lounge options or enhanced access |
| Dining Programs | Up to $20 monthly credits for select dining and delivery services | New dining credits or partnerships |
| Hotel Programs | Up to $200 annual hotel credits for eligible bookings through Amex Travel | Potential new credits, e.g., quarterly Hilton |
| Travel Credits | TSA PreCheck/Global Entry credits, up to $200 airline fee credit | Likely to remain, with possible new additions |
Targeting Younger Demographics
A key focus of the refresh is to attract Millennials and Gen Z, who accounted for 35% of total U.S. consumer spending last quarter, according to American Express. Howard Grosfield, President of U.S. Consumer Services, emphasized the card’s broad appeal: “Platinum Card benefits and services resonate across generations, particularly with Millennial and Gen Z. We’re going to take these Cards to a new level, not only in what they offer in travel, dining, and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers” (One Mile at a Time).
This focus on younger cardholders is evident in American Express’s recent marketing efforts, such as hosting exclusive events like a Coachella party in Palm Springs in 2025 (Fortune). The company aims to position the Platinum Card as a “lifestyle” card, blending heavy travel benefits with perks that appeal to younger, experience-driven consumers.
Competitive Landscape
The premium credit card market is increasingly competitive, with issuers vying to offer the most compelling benefits to justify high annual fees. The Amex Platinum Card, currently priced at $695 annually, is the most expensive in its class, compared to the Chase Sapphire Reserve’s $550 fee (Fortune). The timing of Amex’s announcement, less than a week after Chase’s, suggests a strategic move to maintain its leadership in the premium card segment.
Recent changes to other American Express cards, such as the Amex Gold Card, provide context for what might be expected. In 2024, the Gold Card’s annual fee increased to $325, with new credits for Resy restaurants and Dunkin’ Donuts added, though some benefits were restructured to be less valuable (Thrifty Traveler). This pattern suggests the Platinum Card refresh may include both new perks and a potential fee hike.
Potential Changes and Speculations
While American Express has not disclosed specific changes, industry analysts have speculated on several possibilities:
- Annual Fee Increase: The current $695 fee, raised from $550 in 2021, may increase further, potentially approaching $1,000 (Thrifty Traveler). However, American Express has emphasized that the new benefits will justify any fee adjustments.
- New Statement Credits: Additional credits, such as a quarterly Hilton credit, may be introduced, following the model of recent Business Platinum Card updates.
- Card Design: The refresh may include a new look and feel for the card, aligning with the lifestyle focus for younger cardholders.
- Core Benefits Retention: Popular perks like Centurion Lounge access and travel credits are expected to remain, ensuring continuity for existing cardholders.
These speculations are based on American Express’s history of balancing fee increases with enhanced benefits, as seen in the 2021 refresh that added $200 annual hotel credits (Bloomberg).
Historical Context
The Amex Platinum Card has undergone several updates since its introduction over 40 years ago. The most recent major refresh in 2021 increased the annual fee to $695 and introduced new credits, such as $200 for hotel bookings and $20 monthly dining credits. However, some of these credits were criticized for being difficult to use, prompting speculation that the 2025 refresh will focus on more accessible and valuable perks (The Points Guy).
The upcoming changes are expected to be more substantial, reflecting the evolving preferences of cardholders and the competitive dynamics of the credit card industry. American Express’s focus on Millennials and Gen Z suggests a shift toward benefits that align with their priorities, such as experiential rewards and flexible travel options.
What This Means for Cardholders
For current and prospective Amex Platinum cardholders, the 2025 refresh presents both opportunities and considerations. The promise of enhanced benefits could make the card more valuable, particularly for frequent travelers and those who maximize dining and hotel credits. However, a potential fee increase may prompt some to reassess whether the card’s value justifies its cost.
As details emerge in the coming months, cardholders should monitor announcements from American Express to understand the full scope of the changes. Those considering applying for the card may want to wait until the fall to evaluate the new benefits against any fee adjustments.
Conclusion
The upcoming refresh of the American Express Platinum Card and Business Platinum Card marks a significant milestone in the company’s efforts to maintain its leadership in the premium credit card market. By focusing on travel, dining, and lifestyle benefits, and targeting younger demographics, American Express aims to redefine what a premium card can offer. As the fall 2025 launch approaches, cardholders and industry watchers alike will be eager to see how these changes reshape the iconic Platinum Card.
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FAQs
Is the Amex Platinum Card Hard to Get?
Not the hardest, but it requires a good to excellent credit score (670+ FICO, ideally 700+) and a strong financial profile. Consistent payments and low credit utilization boost approval chances (The Points Guy).
Is the Amex Platinum Card for High Income?
It’s aimed at above-average earners due to the $695 annual fee. No specific income is required, but cardholders often earn over $100,000. Lower earners with strong credit can still qualify (Forbes).
What Is So Special About the American Express Platinum Card?
It offers premium travel perks like Centurion Lounge access, up to $200 airline and hotel credits, TSA PreCheck/Global Entry credits, and dining benefits. Its value shines for frequent travelers (CNBC).
Is the Amex Platinum Card a Rich Card?
It’s seen as a status symbol due to its high fee and luxury perks, often associated with affluent users. However, anyone meeting credit and income criteria can apply, not just the wealthy (Fortune).
Can You Get the Amex Platinum with No Credit History?
Unlikely. Amex prefers applicants with established credit. A limited credit history may lead to denial, but a co-signer or secured card can help build credit first (NerdWallet).
Does the Amex Platinum Have a Spending Limit?
It’s a charge card with no preset limit, but spending is based on your financial profile and payment history. Amex may impose limits for high-risk accounts (Bankrate).