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Amex Platinum 2025 Refresh: Is the $895 Fee Worth It? (Complete Value Breakdown)
July 1, 2025
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American Express Platinum Card® (See Rates & Fees) just got its biggest shake-up since 2021—and it's a doozy. The annual fee jumped from $695 to $895, but American Express isn't just asking you to pay more. They're offering over $3,500 in new and enhanced statement credits, plus expanded travel and lifestyle perks that could actually justify that price tag.
But here's the real question: Should you keep paying (or start paying) $895 for this card? Let's break down exactly what changed, who benefits most, and whether the math actually works in your favor.
What's New: The Big Changes at a Glance
American Express rolled out changes across four key areas:
New Annual Fee
- $895 (up from $695)—a 29% increase
- Effective immediately for new cardholders
- Existing members won't see the increase until January 2, 2026
Four Brand-New Statement Credits
- At lululemon
- For Oura Ring hardware
- At Resy restaurants
- For Uber One membership
Enhanced Existing Benefits
- Hotel credit increased
- Digital entertainment credit boosted
- Clear Plus credit updated
- New streaming services added: Paramount+, YouTube Premium, YouTube TV
New Travel Perks
- Complimentary Leaders Club Sterling status with The Leading Hotels of the World
- Platinum Nights by Resy (exclusive reservations in LA, Miami, NYC)
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
The $3,500+ Value Breakdown: Does the Math Work?
Here's exactly how American Express arrives at that $3,500+ figure—and what you actually need to do to capture it.
Automatic Annual Value
What you get without lifting a finger:
- Uber Cash (monthly credits that auto-apply)
- Digital Entertainment Credit (if you're already subscribed)
- Uber One membership (covers the full annual cost)
Real-world catch: You need to add your Platinum Card to your Uber account and select Amex cards for payment. The digital entertainment credit requires you to use eligible services like Disney+, Hulu, Paramount+, YouTube Premium, or The New York Times.
High-Value Credits Requiring Action
Lifestyle spending most cardholders can use:
- Hotel Credit
- Resy Dining Credit
- lululemon Credit
- Airline Fee Credit
- CLEAR Plus Credit
- Saks Fifth Avenue Credit
The reality check: You'll need to shop at lululemon quarterly, dine out regularly at Resy restaurants, and book two premium hotel stays per year. Miss a quarterly credit? You forfeit it forever.
Specialized Credits
Benefits that work for specific lifestyles:
- Equinox Credit
- Oura Ring Credit
- Walmart+ Credit
- TSA PreCheck/Global Entry
Who this works for: Wellness enthusiasts who already pay for Equinox or want an Oura Ring, plus regular Walmart shoppers.
The Breaking Point
To hit that $3,500+ annual value, you'd need to max out virtually every credit. Realistically, most cardholders will capture $1,500-$2,500 in annual value depending on lifestyle fit.
Bottom line calculation:
- Annual fee: $895
- Realistic value capture: $1,500-$2,500
- Net benefit: $605-$1,605 in your favor
That's before accounting for the card's points on flights and prepaid hotels through AmexTravel.com—which could add hundreds more in value for frequent travelers.
[[ SINGLE_CARD * {"id": "106", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Serious Points on Flights"} ]]
Who Should Upgrade (or Apply)?
The refreshed Platinum Card now serves three distinct groups:
1. Frequent Travelers Who Dine Out
Profile: Takes 4+ flights yearly, values lounge access, stays at hotels at least twice per year, enjoys fine dining
Key benefits:
- Over 1,550 airport lounges worldwide (including Centurion Lounges)
- Hotel credits makes premium stays more affordable
- Resy credit subsidizes 8+ dinners per year
- Points on flights adds up quickly on $5,000+ in annual airfare
Value sweet spot: If you're already spending $3,000+ annually on travel and dining, this card practically pays for itself.
2. The Lifestyle Optimizer
Profile: Shops at lululemon, tracks health metrics, uses Uber regularly, subscribes to multiple streaming services
Key benefits:
- lululemon credit = one new outfit per quarter
- Uber Cash + $120 Uber One = all rides/deliveries essentially discounted
- entertainment credit covers multiple subscriptions
- Oura Ring credit subsidizes health tech investment
Value sweet spot: Even without heavy travel, lifestyle credits alone can exceed the annual fee.
3. The Premium Travel Maximizer
Profile: Books through Amex Travel, values elite status, uses travel protections regularly
Key benefits:
- Fine Hotels + Resorts perks (daily breakfast, room upgrades, $100 property credit) average $550 in value per booking
- Leaders Club Sterling status with The Leading Hotels of the World
- Trip delay, baggage insurance, and purchase protections
- No foreign transaction fees
Value sweet spot: If you book 2+ hotel stays via Amex Travel annually, the hotel credit plus FHR perks deliver $1,100+ in value alone.
Who Should Skip This Card?
You're better off with alternatives if you:
- Travel fewer than twice per year
- Don't shop at partner merchants for credits
- Primarily want cash back
- Can't consistently use quarterly credits
Strategic Credit Card Pairing Guide
The Platinum Card works best as part of a two-card strategy. Here's how to fill the gaps:
Platinum + Gold Strategy
For foodies who travel:
- Platinum: Flights, hotels, lifestyle credits
[[ SINGLE_CARD * {"id": "118", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Generous Travel Rewards"} ]]
Platinum + Everyday Strategy
For maximizing Membership Rewards:
- Platinum: Premium travel and credits
[[ SINGLE_CARD * {"id": "259", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Small Business Owners", "headerHint" : "Simple Rewards" } ]]
Platinum + Cash Back Strategy
For mixed spending priorities:
- Platinum: Travel and lifestyle credits
[[ SINGLE_CARD * {"id": "497", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "Fantastic Cash Back Card"} ]]
Maximizing Credits: Your Quarterly Checklist
Missing credits is like leaving money on the table. Here's exactly when to use each one:
Monthly (Set It and Forget It)
✅ Uber Cash – Auto-applied when Platinum is linked to Uber account
✅ Digital Entertainment Credit – Use for Disney+, Hulu, Paramount+, YouTube Premium, or NYT subscription
Quarterly (Mark Your Calendar)
📅 Q1 (Jan-Mar): lululemon,Resy dining
📅 Q2 (Apr-Jun): lululemon,Resy dining
📅 Q3 (Jul-Sep): lululemon,Resy dining
📅 Q4 (Oct-Dec): lululemon,Resy dining
Semi-Annually
📅 Every Six Months: Hotel Credit (book qualifying stays through AmexTravel.com)
Annually
📅 Choose Once Per Year: Airline Fee Credit (select preferred airline)
📅 Within 12 Months: CLEAR Plus Credit (subject to auto-renewal)
Pro tip: Set phone reminders for the last week of each quarter. Quarterly credits reset on a strict calendar schedule—unused credits don't roll over.
How It Stacks Up: Platinum vs. Other Premium Cards
If you're comparing premium travel cards, here's how the refreshed Platinum Card measures up against its closest competitors:
Chase Sapphire Reserve®
[[ SINGLE_CARD * {"id": "510", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "$300 Annual Travel Credit"} ]]
Capital One Venture X Rewards Credit Card
[[ SINGLE_CARD * {"id": "2888", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "Luxurious Travel Benefits" } ]]
Lounge Access
Platinum wins decisively here: Access to 1,550+ lounges including 30 Centurion Lounges, Priority Pass, Delta Sky Club (10 visits when flying Delta), and partner lounges. Both competitors offer Priority Pass but lack proprietary lounges matching Centurion's quality.
Which Card Makes Sense for You?
Choose Platinum Card® from American Express if:
- You'll actively use lifestyle credits (dining, shopping, entertainment)
- You fly 6+ times per year and value elite lounge access
- You book 2+ hotel stays annually through Amex Travel
- You're willing to manage quarterly credits
Choose Chase Sapphire Reserve® if:
- You want simple, flexible travel credits (applies to any travel)
- You prefer earning points on all travel and dining (not just flights/hotels)
- You value DoorDash DashPass membership and Lyft credits
- You want lower complexity
Choose Capital One Venture X if:
- You prioritize the best value-to-fee ratio
- You're fine with 2x miles on all purchases (simpler earning structure)
- You want Capital One lounge access in major airports
- You don't need extensive lifestyle credits
The Bottom Line on Value
The Platinum Card delivers the highest total value on paper ($3,500+), but only if you maximize credits across dining, shopping, fitness, and travel. Sapphire Reserve offers the most flexibility with its travel credit working on any travel purchase. Venture X provides the best bang-for-buck with straightforward benefits.
For Kudos users: Track your actual spending in dining, entertainment, and lifestyle categories over the past 6 months. If you're spending $400+ monthly in Platinum credit categories, the $895 fee math works. If not, Sapphire Reserve or Venture X deliver better value-per-dollar.
Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company.
What Kudos Cardholders Should Do Now
If you're an existing Platinum cardholder, you have a grace period before the fee increases. Here's your action plan:
Before December 31, 2025
- Max out your 2025 hotel credit: Book a $300+ stay before year-end, then another in January for your 2026 credit
- Use quarterly credits: Don't let Q4 lululemon and Resy credits expire
- Enroll in new benefits: Log into your account and activate Uber One, Oura Ring, lululemon, and Resy credits
In January 2026
- Reassess your actual usage: Track how many credits you've used over 12 months
- Calculate your break-even: Did you capture enough value to justify the new $895 fee?
- Consider downgrading: If not, other cards offer similar travel credits
Kudos tip: Use Kudos Insights to track which cards deliver the most value for your actual spending. If Platinum isn't your top earner, it might be time to reconsider.
FAQs
When does the annual fee increase take effect?
New cardholders pay $895 immediately. Existing members won't see the increase until their renewal date on or after January 2, 2026.
Can I downgrade without losing my Membership Rewards points?
Yes. Downgrading keeps your points active. Canceling the card gives you 30 days to transfer points before they expire.
Do quarterly credits roll over?
No. Each lululemon and Resy credit resets every quarter. Unused amounts don't carry forward.
How does the hotel credit actually work?
You must prepay for Fine Hotels + Resorts or The Hotel Collection bookings through AmexTravel.com. The Hotel Collection requires a minimum two-night stay. You'll receive up statement credits every six months (not per booking).
Is the Resy credit only for reservations?
No! The quarterly credit applies to the bill when you pay at any of 10,000+ U.S. Resy restaurants—no reservation required. Just add your Platinum Card to your Resy profile.
Can I use the Oura Ring credit for a membership?
No. The credit applies only to Oura Ring hardware purchases at Ouraring.com. Memberships are separate and not covered.
What if I rarely travel?
If you travel fewer than twice per year, focus on maximizing lifestyle credits. You could still capture $1,200-$1,500 in annual value without heavy travel. But consider other premium cards to better match your spending patterns.
Bottom Line: Worth $895?
Here's the truth: The Platinum Card® from American Express See Rates & Fees has evolved from a travel card into a lifestyle card that happens to offer elite travel perks. The $200 fee increase is significant, but it comes with $1,000+ in new annual value through dining, shopping, and wellness credits.
You should keep or get this card if:
- You'll realistically use $1,600+ in credits annually
- You travel 4+ times per year and value lounge access
- You regularly dine out, shop at lululemon, or use Uber
- You're willing to actively manage quarterly credits
You should skip this card if:
- You travel occasionally (1-2 times per year)
- You prefer "set it and forget it" benefits
- You don't shop at partner merchants
- You want simpler cash back rewards
The math works—but only if you're willing to work the math. American Express is essentially asking you to become an active participant in extracting value, not a passive cardholder. If that sounds exciting rather than exhausting, the Platinum Card's $895 fee could deliver $1,500+ in net value. For most people, that makes it worth keeping. For others, it's time to explore simpler alternatives.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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