American Express Platinum Card Set for Major Updates on September 18, 2025
American Express (Amex) is rolling out significant updates to its Platinum Card lineup, effective September 18, 2025. These changes include an increased annual fee, enhanced travel and lifestyle perks, and a refreshed card design. The updates aim to enhance the value proposition for frequent travelers and diners, although at a higher cost.
Key Changes to the Amex Platinum Card
The upcoming changes represent one of the most substantial adjustments to the Platinum Card in recent years. According to reports, the annual fee will increase to $895, coupled with an enhanced $600 credit for Fine Hotels + Resorts bookings. These adjustments are designed to keep the card competitive in the premium travel rewards space.
Anticipated Benefits and Lifestyle Credits
Cardholders can anticipate new lifestyle perks, potentially including a dining credit for US Resy restaurants, similar to the American Express Gold Card and Delta SkyMiles co-branded cards. These benefits will supplement the larger hotel credit and cater to frequent travelers and diners, strengthening the card's appeal.
Revisions to Existing Credits
Amex has already adjusted some existing credits on the business side of the Platinum Card. Earlier this year, the card's Dell and Adobe credits were updated. Additionally, the 35% rebate on premium cabin flights booked through Amex Travel will be reduced, though the $600 annual hotel credit partly mitigates this change.
New Card Design
Beyond the financial adjustments, American Express is also updating the Platinum Card's physical appearance. The classic metal aesthetic will be replaced with a mirrored finish design. It remains unclear whether this design will be a permanent change or a limited edition release, as Amex has experimented with special card designs in the past.
Strategy for Potential Applicants
The timing of these changes presents a unique opportunity for potential applicants. Historically, new applicants could "double-dip" when Amex refreshed its cards, receiving both existing benefits and new perks while paying the lower fee during their first year. With instant virtual card numbers, applying now could allow individuals to maximize value before the higher annual fee takes effect on September 18.
Welcome Offer
Currently, American Express is offering a welcome bonus of up to 175,000 Membership Rewards points on The Platinum Card after spending $8,000 in six months. The exact bonus varies, but Amex discloses the offer before final approval, allowing applicants to carefully consider the value.
American Express Stock Performance and Outlook
American Express (NYSE: AXP) has demonstrated steady financial performance, fueled by strong cardmember spending and fee income. Recent results show revenue growth of 9% year over year to a record $17.9 billion in the second quarter of 2025, with earnings per share at $4.08. Management reaffirmed full-year 2025 guidance, projecting revenue growth of 8% to 10% and earnings between $15.00 and $15.50 per share.
Resilient Growth and Premium Engagement
The company's revenue mix continues to shift toward high-margin revenue streams. Net card fees climbed 20% year over year to about $2.48 billion in the quarter. Discount revenue increased 6%, and net interest income rose 12%, showcasing American Express's broad-based growth drivers. The Platinum Card refresh is expected to further drive card fees and engagement.
Bottom Line
The upcoming updates to the Platinum Card lineup on September 18 represent a significant shift for American Express cardholders. With a higher annual fee, an expanded hotel credit, potential new dining perks, and a refreshed card design, these changes present both new opportunities and trade-offs. Travelers and professionals who can fully utilize the benefits may find the refreshed Platinum Cards to be powerful tools, but careful evaluation of timing and application strategy will be key.