If you’re a little disgruntled with Amex this morning, you’re not the only one. Changes are coming to Platinum cards.
Transcript:
AmEx is upping the perks – and fees – on its Platinum cards.
For the first time since 2021, American Express unveiled updates to its flagship card, with the annual fee jumping nearly 30% – from $695 to $895. The hike kicks in at renewal.
To justify the cost, AmEx is stacking on perks it says top $3,500 a year, including:
• $600 in hotel credits
• $400 in dining credits via Resy
• $300 in Lululemon credits
• $200 toward an Oura Ring
• Plus things like lounge access, TSA PreCheck, and hotel status perks.
The shakeup comes as competition intensifies for the country’s biggest spenders. Chase just boosted its Sapphire Reserve fee nearly 45%, from $550 to $795.
The question: do high rollers see enough value to justify nearly $900 a year for plastic – and perks?
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
Subscribe |
Earn. Live. Invest. |
TheStreet Pro |
#amexplatinum #creditcard #personalfinance
source
