Big: Amex will do a major revamp of the Platinum Card later this year
It seems like 2025 might be turning into the biggest year yet for credit card refreshes.
On Monday, American Express announced that it will be making "major updates" to some of its most beloved and rewarding cards.
The issuer said that The Platinum Card® from American Express and The Business Platinum Card® from American Express will be receiving a full revamp later this year.
Amex is notoriously cagey about making announcements before everything is perfectly buttoned up, so this move might surprise some insiders.
Personally, I think that Amex's announcement might be timed to steal some of the spotlight from Chase, which has similarly announced a full revamp of its popular Chase Sapphire Reserve® (see rates and fees) card coming this summer.
Chase has taken to social media and has partnered with German model and actress Claudia Schiffer to generate buzz about the upcoming Sapphire Reserve revamp.
Amex's announcement doesn't really contain many details, but it should be enough to get the rumor mill buzzing about what the issuer might be cooking up, and to garner some headlines at a time when Chase seems to be grabbing lots of the attention in the premium credit card market.
There are no official details about what's coming with the Platinum refresh, aside from a "stay tuned" teaser for the updates coming this fall.
It remains to be seen whether Amex will continue adding statement credits for various partners or pursue an entirely new direction. It's likely there will be changes tailored for millennial and Generation Z segments, which Amex says accounted for 35% of its total U.S.-based consumer spending last quarter. Hopefully, the issuer also doesn't take this opportunity to increase the annual fee by much.
"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," Howard Grosfield, Amex's president of U.S. consumer services, said in a statement.
Back in 2021, Amex refreshed the Platinum Card with a slew of new credits and benefits and a heftier $695 annual fee (the annual fee is $895 as of Sept. 18, 2025; see rates and fees), but many of these credits carry cumbersome terms and conditions, such as limited redemption periods and 30-day expirations. This has led to the Platinum Card getting the "coupon book" moniker, something that Chase and Capital One have done a good job of avoiding up to this point.
Capital One offers the Capital One Venture X Rewards Credit Card as its most premium credit card. While its $395 annual fee sits far below the $795 Sapphire Reserve and the $895 (as of Sept. 1, 2025) on the Platinum Card, it includes several similar perks, such as lounge access and travel credits.
In fact, Capital One just gave the Venture X a big update with a major crackdown on lounge access for authorized users and guests.
Of all the major issuers, Amex was the first to the market with a premium card. The Platinum Card launched more than 40 years ago, well before the Sapphire Reserve or the Venture X. Amex was also the first to enter the airport lounge game, and it's poised to open three new Centurion Lounge locations within the next year, bringing its portfolio to a whopping 32 outposts.
All in all, it's an exciting time to be in the market for a new premium credit card. Be sure to stay tuned to TPG for the latest.
Related reading:
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- How to apply for a credit card
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- How to check your credit score for free
For rates and fees of the American Express Platinum, click here.
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Terms & restrictions apply. See rates & fees.
| 4X | Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 4X | Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. |
| 5X | New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App. |
| 3X | Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines. |
| 2X | Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com. |
| 1X | Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases. |
Pros
- Valuable dining and food-related credits
- Flexible rewards with airline and hotel transfer partners
- Multiple travel and purchase protections
- No foreign transaction fees
- Access to Amex Offers for additional savings (enrollment required)
Cons
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber and other dining credits
- You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
- Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
- Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
- New! Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App.
- Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App, or purchased directly from airlines.
- Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App and cruises booked and paid through AmexTravel.com.
- Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
- Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
- Updated! $120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
- $100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
- $84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
- $120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
- New! As an American Express® Gold Card Member, you can enjoy complimentary Hertz Five Star® Status. Enjoy benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
- Take advantage of a $100 credit towards eligible charges* at over 1,300 upscale hotels worldwide when you book The Hotel Collection through AmexTravel.com or the Amex Travel App **. *Eligible charges vary by property. **The Hotel Collection requires a two-night minimum stay.
- Book your travel through the Amex Travel App with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
- Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
- No Foreign Transaction Fees.
- Annual Fee is $325.
- Terms Apply.