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American Express Upgrades Amex Platinum Card With New Features

American Express Co. (AXP) on Thursday launched the latest version of its consumer Amex Platinum Card in the United States. While there had been talks going on about the proposed changes, it is only today that the card was launched with many new changes.

The first and most important change is that American Express has raised the Platinum card's annual fees to $695 from the earlier $550. The new fees will come into force for new card holders from July 1 and for existing members, the new fees will be charged for renewal dates on or after January 1, 2022.

With the nearly 26 percent rise in annual fees, the Amex Platinum is reportedly the most expensive annual fee card in the US.

A person purchasing the new Amex Platinum will avail benefits like $240 digital entertainment credit, $300 Equinox credit, $200 hotel credit, and full access to Global Dining Access by Resy and benefits from premium private jet programs.

All these are addons to existing benefits like to comprehensive lounge access, 5x Membership Rewards points on flights, access to Amex Fine Hotels & Resorts, cell phone protection, travel coverage and many more features.

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