Amex Platinum Annual Fee Rises to $700 — But Adds New Perks

American Express has announced a modest $5 increase to the Platinum Card's annual fee, from $695 to $700, effective for new applicants starting April 1, 2026. Existing cardholders will see the change at their next renewal.

New perks added: - $200 Experience Credit: Usable at Amex-curated events, concerts, and pop-up dining experiences nationwide - Enhanced Centurion Lounge access: Guest policy now includes 1 free guest regardless of spend (previously required $75K annual spend) - Global Entry/TSA Pre credit increased from $100 to $120 (now covers the full Global Entry fee)

Total quantifiable credits now exceed $1,700/year: - $200 airline fee credit - $200 hotel credit - $200 Uber Cash - $200 experience credit (NEW) - $155 Walmart+ credit - $120 Global Entry credit - $240 digital entertainment credit - $300 Equinox credit - $189 CLEAR Plus credit

Our take: The $5 fee increase is negligible. The new $200 experience credit is genuinely useful if you attend events. The lounge guest policy change alone makes the card much more couple-friendly. Amex continues to pile on credits — the challenge remains actually using them all.