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The annual fee on the Amex Platinum will increase to $695 according to new cardmember agreements posted on Amex’s website. The same goes for the Charles Schwab version of the card.
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37 comments
Finally got a reason to cancel my amex at the end of this year
Yep time to cancel when new AF posts to my account.
All the more reason for me to just hold the Gold card. $700 lol. get outta here.
I don't understand, it was just increased!!! Are they purposely trying to slim the application crowd by making this "thee" card to have after the Centurion?
The new credits are mostly useless. The new $240 digital entertainment credit is very limited to subscriptions I don't want or need; SiriusXM isn't even a good service and Peacock is already free with a Comcast subscription. Equinox is an absolute NO. The $200 hotel credit is ok. TSA > Clear. These updates are not great.
Ouch. As a new Platinum card customer (March ‘21) who was hoping to justify the $550 annual fee, now i’m definitely more concerned.
I do like the travel benefits, Uber/Uber eats credits, and other benefits & bling factors…..but is it all worth $695? For most people, probably not.
Probably they understand very well who they are targeting. For me I cannot understand the monthly credit; neither can I justify the annual fee.
Probably they understand very well who they are targeting. For me I cannot understand their monthly credits; neither can I justify the annual fee.
No longer worth it, most New benefits just aren't compelling. Even $20 monthly credit for entertainment is just for a few vendors. Gym credit $300 for equinox, equinox is one of the most expensive gyms in New York City ($25 monthly barely makes a dent in that). If you're the points Guy or you have a YouTube channel, there's ways to wrangle and squeeze but for most people this has become a joke at $695. It makes the gold card more valuable at $250.
At least the Clear Credit is good for 2 people. $109 if your Delta Skymiles Credit card holder or $119 for United and Delta general members and $60 for additional family member.
An Equinox credit? That’s ridiculous!
Amex trifecta is dead
Just checking for the “thanks Biden” or “thanks Obama” remarks, lol
Anyway, it’s still a keeper card for me.
The new credits(subscription) will be saving me an additional 60$ a year after the new AF increase, so I actually am feeling pretty good about it.
The AMEX Platinum, to me, was the ultimate goal card and I applied to celebrate my 800 credit score. Almost a year later and now I have to consider letting it go.
Damn.
I have an AmEx Platinum and Gold card. I almost certainly will cancel the Platinum before it renews, after these changes. Question: would I still be able to transfer Membership Rewards to transfer partners for the same value, with only the Gold card?
Not enough personal rewards benefits for the annual price tag of $695. 🤯
That’s just crazy.
Retention dept. Please !!!!
I think this is outrageous too much money and I don’t care what the perks are just think about what you can do with $695 a year more things than carrying around a credit card that’s not even excepted in a lot of places I live in the state of New Jersey and it’s not excepted in a lot of places it’s not excepting in the cheesecake factory it’s not excepted in a lot of places in the mall lotta restaurants stores because they’re transaction fees are through the roof and you should know that if you have an AMEX card
Yes Shifu, you CAN use each half of a $20 bill as $10 as long as the full serial number is on each half OR you could just tape it back together lol.
For EXISTING Platinum card members, the annual fee REMAINS at $550 as long as the annual renewal happens before January 1, 2022 — all NEW applicants do get slugged with the new $695 fee as of now. Existing card holders get to enjoy some of the new perks free of charge, assuming your annual renewal happens in the next 4 to 5 months.
To be honest the US version of the Amex was the one with the lowest annual fee worldwide… most international Platinum cards come with annual fees in the USD $1100 to $1400 range with far fewer perks and intro bonuses. I mentioned this in a comment a few months ago, but Amex is looking to harmonize some if its fees across all countries, so be prepared for more annual fee hikes (but also much better intro bonuses with more complicated rules). Amex is going to start staggering bonuses over an 18 month period rather than the current 3 month or 6 month spend model. So essentially you will get MOST of your intro bonuses in the first 6 months, but some will be held back and requires that you use the card well into year two..
Love that background bro 😎
Thanks for the video. I checked my account online and the new benefits are already available. I enrolled and am already enjoying Sirius XM in my car. That and the $179 Clear benefit makes the card a keeper.
Time to downgrade to gold and upgrade my delta platinum to reserve. The reserve still has access to the centurion lounge for free next year. Platinum is going to charge $50 if you dont spend $75k on the card.
AMEX Lounge employee: Boss, our lounge is getting really crowded.
Boss: Let’s limit access to cardholders only and raise our annual fee. Oh, we’ll throw in a private jet charter membership at 40% off. That should reduce the number of people trying to get into our lounges.
People look disappointed, but I'm happy AmEx Platinum is becoming a bit more exclusive. There is always a quality drop when there are too many members.
My wife signed up for the Platinum card on 6/30 to get the $550 AF. Card comes today and it's not in any kind of box. Just a plain AMEX envelope attached to paper like every other card.
American Express platinum card annual fee, is now $695, with 100,000 points after 6000 in spend. Is that worth it?
I hope consumers are getting smarter and react to this appropriately that forces Amex to respond with better credits.
Amex selling coupon books with stores that are not around us !!!!!😒
Ya have to have both serial number of the currency half a bill not valid
From his balance and utilization you can determine his CSR limit is 13k and his overall limit is about 114k. Very impressive!
I'M VERY GRATEFUL AND THANKS FOR BEING THIS TRUSTWORTHY @Alexgenius_ ON INSTAGRAM OH LORD IDK WHAT I WOULD HAVE DONE WITHOUT HIM❤️
I'M VERY GRATEFUL AND THANKS FOR BEING THIS TRUSTWORTHY @Alexgenius_ ON INSTAGRAM OH LORD IDK WHAT I WOULD HAVE DONE WITHOUT HIM❤️
$700 annual fee is insane, I dropped this card when they raised the fee to $550
My renewal was only $550 for 2021.