Amex Platinum Card Refresh in 2025 to Have Major Travel, Lifestyle, and Dining Upgrades

On Monday, American Express said that it is planning the largest investment ever in a credit card refresh through major updates to its US consumer and business platinum credit cards, which will be made available to customers in the latter half of this year.

Amex Platinum cards were launched over four decades ago and offer unique benefits, access to experiences, and global servicing.

'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, to meet the evolving needs of our customers,' said Howard Grosfield, Group President, US Consumer Services, American Express.

The company said its Amex update will be for both US consumer and business platinum cards without detailing the specifics of the changes.

The platinum cards already offer access to more than 1,550 lounges across 500 global airports. American Express is expected to open three new Centurion lounges in Newark, New Jersey, Salt Lake City, Utah, and Tokyo, Japan, in 2026. The additions will bring the total Centurion lounges worldwide to 32.

In this new decade, American Express has faced stiff competition for premium credit card customers, including from JPMorgan Chase's Sapphire Reserve card and Capital One Financial Corp.'s Venture X Rewards card. Amex had raised its platinum card annual fee to £512 ($695) in July 2021. At the same time, it added £147 ($200) in annual hotel credits.

However, Amex has ramped investments to overhaul its dining and hotel programmes accessible through its platinum cards. For instance, the company has integrated Resy's robust network to offer seamless access to reservations in more than 30 countries at over 20,000 restaurants globally.

Furthermore, American Express' recent acquisition of Tock will also add 7,000 restaurants, venues, and wineries to the growing platform. Amex said the Fine Hotels + Resorts and The Hotel Collection will keep adding new properties to its 2,600 curated listings in the most happening destinations. It added that the resorts and hotel collection is the only credit card issuer programme that guarantees 4:00 p.m. late check-out at more than 1,600 locations worldwide.

Amex is also prioritising its platinum business card features with plans to revamp programmes and benefits with the goal of helping cardholders scale their companies and manage their finances better. Amex business platinum cardholders benefit from dynamic spending limits that change based on customer purchase and payment patterns, travel benefits, rewards on business expenditures, and credit history.

In terms of experiences, the Amex platinum card offers access to diverse events globally, from sporting events and motorsports to music festivals, backed by its award-winning global servicing. The company said it has tie-ups with top brands when it comes to its platinum cards and will offer more details about the card refresh in the fall.

According to Bloomberg Intelligence analyst Ben Elliott, credit card upgrades are vital for new-card acquisition and fees to drive American Express' revenue growth targets.

'Consumers' appetite for ever-higher annual fees and complex, incentive-driven rewards structures could be tested if demand slows, but the formula has driven growth consistently for decades,' Elliott noted.