American Express Co. dished out updates that there could be possible changes to the Amex coming later this year to its travel-focused Platinum credit cards. This Amex consumer card updates as per the company will be its “largest investment ever” in a credit-card refresh. The Amex update will apply to both the US consumer and business Platinum cards, the company said.
On Monday, Howard Grosfield, Amex’s group president for US consumer services, said in a statement, “We’re going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel.”
Amex platinum changes
Just last week JPMorgan Chase announced changes to its Sapphire Reserve, the travel and dining rewards card. To intensify the rivalry American Express on Monday announced upcoming “major” changes to its consumer and business Platinum cards in later part of 2025. Not much information was provided by the American Express company, but stated that 2025 would see a major premium credit card updates.
Howard Grosfield said, “We are going to double down on the things we know based on the data that our card members love.” He added, “but more importantly, we’ll bring a whole bunch of new and exciting benefits and value that will far, far, far exceed the annual fee.”
Is Amex platinum worth it
A pioneer in platinum card space, American Express pioneered the premium credit card space decades ago. The Amex card had numerous perks at airlines and hotels with access to its own network of high-end airport lounges.
In 2016, JPMorgan shook up the industry igniting stiff competition among card issuers with a lavish sign-on bonus and other incentives for its Sapphire card.
Amex platinum benefit update
As per the experts both companies will offer ever-longer lists of perks in travel, dining and experiences, while potentially raising their annual fees, as has been the pattern with recent updates.
Premium card annual fee
Amex raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits. Sapphire has a $550 fee.
There has been rumours floating on Reddit and other forums that JPMorgan was hiking the annual fee on its Sapphire product to $795.
A JPMorgan spokesperson declined to comment.
The new Platinum card will launch in the fall of 2025.
3 new Centurion Lounges
The major plans set for Amex is to open three new Centurion Lounges in airports globally in the next year-Newark, New Jersey, Salt Lake City, Utah, and Tokyo, Japan. This would be adding to the total number of Centurion Lounges to 32, as per the company.
