American Express has announced a significant update to its travel-focused Platinum credit card, calling it the company’s “largest investment ever” in a card refresh. The changes will affect both consumer and business versions in the US. While exact details have not been shared, the company said the card will be improved in terms of travel, dining, lifestyle benefits, and even its physical design.

Why is the update happening now?

Amex last increased the Platinum card’s annual fee to $695 (around ₹59,770) in July 2021, adding $200 in hotel credits. Since then, competition has grown stronger, with cards like JPMorgan’s Sapphire Reserve and Capital One’s Venture X Rewards attracting premium users. Amex is aiming to strengthen its position and attract new customers with this refresh.

What do premium cards usually offer?

Premium credit cards come with exclusive services, often including access to luxury hotels, fine dining, and concierge support. These cards are generally accepted worldwide and provide benefits such as booking movie tickets, flowers, or restaurant reservations through personal assistance. However, they also carry high annual fees, often exceeding ₹50,000.

Will lounge access be expanded?

Access to American Express’s Centurion Lounges is one of the key benefits of the Platinum card. The company has announced that a new lounge will open at Tokyo’s Haneda Airport next year. Additional lounges are also planned for Salt Lake City and Newark, New Jersey.