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Amex Raises Platinum Fee 29%, Targets Young Travelers

10/5/2025

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Summary

Story summary

American Express raised the Platinum Card annual fee from $695 to $895—a 29% rise.
The benefits total nearly $1,500, including $600 hotel credits and $400 dining via Resy.
About 60% of new customers are Millennials or Gen Z, signaling a younger user base.
Analysts say perks target frequent travelers willing to spend on premium services; exclusivity concerns persist.

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Story summary

American Express raised the Platinum Card annual fee from $695 to $895—a 29% rise.
The benefits total nearly $1,500, including $600 hotel credits and $400 dining via Resy.
About 60% of new customers are Millennials or Gen Z, signaling a younger user base.
Analysts say perks target frequent travelers willing to spend on premium services; exclusivity concerns persist.