June 16, 2025 10:56 pm IST
The Amex update will apply to both the American consumer and the business platinum card, the company said.
The American Express company lashed out at its travel-centered platinum credit card later this year, which announced that it has called its “biggest investment” in the credit-card refresh.
“We are going to take these cards to a new level, not only what they offer in travel, food and lifestyle benefits, but also what they look and feel,” we said in a statement, “We are going to take these cards to a new level, but also how they look and feel.”
Amex extended its platinum card annual fee to $ 695 in July 2021, when it also added $ 200 to the annual hotel credit. Since then, the New York-based company has faced acute competition for premium credit-card customers, including JP Morgan Czech & Company’s Neelam Reserve Card and Capital One Financial Corp’s Venture X Rewards Card.
The Amex update will apply to both the American consumer and the business platinum card, the company said. This did not provide more nuances as to what changes are coming.
Bloomberg Intelligence Analyst Ben Elliot wrote to the clients in a note that the revenue growth goals of Amex are important to fuel the cards and upgrade card upgrade for fees.
Elliott said, “Sometimes the annual fee and the complex, encouraged award structures can be tested for consumers’ hunger if the demand slows down, but the formula has operated continuously for decades,” Elliott said.
Access to the global lounge of Amex is one of the benefits associated with platinum cards. Next year, a new Centurion Lounge will open at Haneda Airport in Tokyo, Amax said in a statement, apart from already announced schemes for new people in Salt Lake City and Newark, New Jersey.
