(NewsNation) — American Express unveiled on Thursday new perks to its Platinum Card while raising the annual fee to $895, up from $695.
Cardholders now get:
- A $600 hotel credit, up from $300, through AmEx’s travel portal
- A new $400 credit for reservations made on the reservation platform Resy
- $300 to spend at Lululemon
- An increased $300 “digital entertainment credit” for streaming and news services
AmEx says the total value of benefits now roughly totals $3,500, aiming to justify the higher fee and fend off competition from rival premium cards like Chase Sapphire Reserve.
All previous perks, including the $200 airline fee credit and Saks Fifth Avenue credit, remain in place. The new benefits are available immediately.
