Major Updates to Amex Platinum and Platinum Business Cards
Update: The annual fee for the consumer Platinum card will likely go up to $895 based on qwww links which are used for testing new offers. I would think that the Business Platinum card will also have he same annual fee. (HT: oxymoronic99)
American Express is trying to take some of the spotlight from Chase as changes to the Sapphire Reserve card are expected to be announced tomorrow.
Amex has revealed that “major updates” are coming to its U.S. Consumer and Business Platinum Cards later this year. The company also says that it “is making its largest investment ever in a Card refresh.”
However Amex is not sharing any details about what these updates will include. The easy guess is that an annual fee increase is coming, and likely some new coupon-book-like benefits.
The company says it will announce further updates in the fall.
“More than forty years ago, we introduced the Platinum Card, and we continue to offer Platinum Cards with global servicing, unique benefits and experiences that our Card Members love,” said Howard Grosfield, Group President, U.S. Consumer Services. “Platinum Card benefits and services resonate across generations, particularly with Millennial and Gen Z who accounted for 35% of total U.S. Consumer spending last quarter. 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.”
AMEX’S annual fees are already too high. If the platinum cards fees increase to the anticipated level, that would be both sad and insulting. Shame on American Express. S-H-A-M-E ON YOU!
If it goes to $895 I’ll be out. Let’s see what they do.
I’m about ready to cancel the Platinum card, anyway, as lounge overcrowding and waitlists have not subsided. The lounges are the only reason I’ve kept the card, as I dislike the coupon book concept. If the annual fee hits $1K, I’m definitely out, as I generally use the AAdmirals Clubs.