Buckle up, Platinum cardholders!American Express is teasing that something big is coming next Thursday, Sept. 18 … and we don't need to think too long and hard about what that news might entail.
Back in June, American Express hastily announced it would update both *amex platinum* and *biz platinum* sometime later this fall. The news was light on details: No specific benefits or timeline were shared – just an announcement that changes were on tap for the coming months.
Since then, a few details have leaked – namely, increasing the annual fee to a whopping $895, a major increase to $600 a year in Fine Hotels + Resorts® credits, and a Sept. 18 effective date. Today's post from Amex all but confirms it: We'll soon know exactly what Amex has in store for the new-look Platinum Cards.
Not only will the “refreshed” Platinum cards come with new benefits and a higher annual fee, but it appears they're getting a makeover as well.
In the past, we've seen Amex introduce limited-edition card designs and it looks like this time around, they're going with a mirrored finish. No word yet on whether that's the new standard look or if this one will only stick around for a short while.
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Beyond the (likely) bigger hotel credit and an annual fee hike, not much else is officially known about what Amex has planned for the refreshed Platinum Cards. But we've done our best guesswork.
The personal version will likely include a handful of new lifestyle and travel credits, following Amex's typical playbook. In addition to an increased hotel credit, it wouldn't be shocking to see the bank add a new dining credit for U.S. Resy restaurants, similar to the one that's been added to the *amex gold* and suite of Delta co-branded cards over the past couple of years.
On the business version, Amex already implemented some big changes to the card's longstanding Dell and Adobe credits – and we know for sure that the card's lucrative 35% point-rebate when booking business and first class flights is getting seriously kneecapped next week. While those changes are mostly negative, adding a new $600 per year hotel credit is surely good news.
What existing benefits (if any) will get the axe on both of these cards remains to be seen.
If the cuts aren't too drastic and the rumored hotel credit proves true, it's hard not to chalk these changes up to an easy win for existing cardholders. Yes, the annual fee is certainly going up, but the new hotel credit alone offsets that increase and generally makes that perk easier to use.
If you've been on the fence about applying for one of these cards, now could be the time to apply. In the past, when Amex has “refreshed” cards, it has provided an opportunity to double-dip on the current benefits as well as the new ones … all while paying a lower annual fee for the first year.
Plus, Amex recently rolled out an increased welcome offer on *amex platinum*: You can now earn as high as 175,000 points after spending $8,000 in the first six months. Exactly what bonus offer (if any) you're eligible for will vary: After you submit your application – but before you accept the card (if you are approved) and your credit score is pulled – Amex will let you know the exact welcome offer you can earn.
Even though time is of the essence with this strategy, Amex generally issues virtual card numbers instantly upon approval. With that in mind, you should have just enough time to make use of some of your card's existing benefits before the new card rolls out next week.
Related reading: Higher Fee? More Credits? What’s Next for The Platinum Card® from American Express?
Bottom Line
We've known for a while now that Amex is planning to refresh *amex platinum* and *biz platinum*, but this is the biggest confirmation yet about when exactly we'll see those changes.
We'll have to wait on specific details, but recent leaks make both of these cards look like pretty appealing options. If you've been thinking about applying, now could be your last shot at getting in on all the current benefits (and most likely, the new ones) … all while paying a lower annual fee for the first year.
Learn more about *amex platinum*.
Learn more about *biz platinum*.
