Get ready, Platinum Card holder! American Express is hinting at a significant announcement coming on Thursday, September 18th, and it’s pretty easy to guess what might be on the horizon.
Back in June, American Express revealed plans to refresh both the Platinum Card and Business Platinum Card this fall. However, details were scarce. They didn’t specify what benefits would change or when exactly this would take place, leaving us in suspense.
Some information has since leaked. It seems like the annual fee is about to jump to an astonishing $895, while the Fine Hotels + Resorts® Credit will rise to $600 each year starting September 18th. Amex’s announcement hints at what’s in store for the updated Platinum Card.
The revamped Platinum Cards not only come with new benefits and higher annual fees, but they also have a fresh look.
Historically, Amex has released limited-edition designs, but this version features a mirror finish. There’s no indication yet on whether this will be the new standard look or if it’s just temporary.
Besides the increases in hotel credits and annual fees, many of the potential changes remain a mystery. But let’s take a guess.
The personal card might roll out a few new lifestyle and travel credits, keeping in line with Amex’s previous patterns. Along with the increased hotel benefits, it wouldn’t be surprising to see new dining credits added, similar to those found with the Amex Gold Card.
For the business version, notable changes have already been observed regarding Dell and Adobe credits. I can say with some certainty that the card’s appealing 35% point rebate for booking business and first-class flights will be scrutinized closely once these updates drop. While some changes may not be favorable, the addition of a $600 yearly hotel credit is a positive twist.
What’s unclear, however, is how the existing benefits of both cards might be affected.
If the changes are less drastic and the rumored hotel credits are confirmed, it’s hard to overlook the fact that this could be a win for current cardholders. Sure, annual fees are rising, but if there’s a new hotel credit, the overall value might balance out.
If you’ve been thinking about applying for either of these cards, now might be the time. Historically, when Amex refreshes a card, it allows for a chance to double dip on existing and new benefits, all while starting with lower annual fees in the first year.
Additionally, Amex has been offering heightened welcome bonuses for the Platinum Card: spend $8,000 within six months to earn 175,000 points. Just keep in mind that you’ll want to check your credit score after submitting your application.
Timing is crucial here, but AMEX typically provides a virtual card number immediately after approval. This means you could still capture some of the current benefits before the changes roll out next week.
Related readings: Are higher prices and more credits on the horizon for American Express’s Platinum Card®?
Conclusion
It’s been common knowledge that Amex plans to refresh the Platinum Card and Business Platinum Card, but this confirmation brings clarity about when those updates will become visible.
While more details are needed, recent leaks make both cards appear quite appealing. If you’re considering applying for one, it might just be your last chance to enjoy all the current benefits — along with potential new ones.
