Is the New American Express Platinum Card Worth the $895 Annual Fee? Explore the Benefits
- Mike Levin
- Sep 20
- 3 min read
As a middle-income family, I'm always on the lookout for ways to get the most out of my spending, particularly with credit cards. Recently, I stumbled upon the revamped American Express Platinum Card, which has seen a significant fee surge to $895 per year. This jump from its previous price might seem steep, but the new perks could offer benefits worth up to $3,500 annually. Let’s take a closer look to determine if this card truly deserves a spot in your wallet.
The Cost of the New American Express Platinum Card
The new annual fee of $895 for the American Express Platinum Card is certainly a hefty sum. However, upon examining the benefits, it became clear that if used thoughtfully, the card could essentially pay for itself. Existing perks include:
$200 in Uber credits: This can be particularly useful for families on the go, providing transportation options without the need for parking.
$200 in airline flight credits: Designed to offset flight booking costs, this perk can be a game-changer for frequent travelers.
$50 Saks Fifth Avenue Semi-Annual credit: This allows you to treat yourself to something nice every year.
Walmart+ subscription: This benefit covers the membership fee, allowing for convenient online shopping and grocery delivery.
These existing perks alone represent up to $650. When combined with the new perks launching in September 2025, the potential savings increase dramatically.
Exciting New Perks
The revamped American Express Platinum Card introduces some compelling new perks that can significantly boost its value:
$120 for an UberOne membership: Ideal for families needing reliable transport, this covers rides to and from various destinations, saving you time and hassle.
$300 annual credit for Lululemon: Whether you are into running or yoga, this credit can help refresh your workout wardrobe with high-quality gear.
$400 annual dining credit for Resy: Dining out can rack up expenses quickly. This credit helps offset dining costs, making it easier to explore new restaurants without the financial worry.
$600 annual credit for Amex Hotels: Perfect for family vacations, this savings can go toward comfortable accommodations and create memorable experiences.
When accounted for, these new perks could bring the total value of benefits over $2,000, easily surpassing the annual fee.
Enrollment and Usage of Perks
Most of these perks require enrollment, but the process is user-friendly and can typically be completed in minutes on the American Express website. Many of the benefits are available quarterly or semiannually, allowing you to plan your spending strategically.
For example, if you utilize the $200 Uber credit and $400 dining credit throughout the year, you can cover over half the annual fee just by using these perks.
Elite Status with Travel Partners
A significant advantage of the American Express Platinum Card is the elite status it affords with various travel partners. This can lead to perks like:
Room upgrades at hotels
Late checkouts
Complimentary breakfasts
For families that travel regularly, these benefits enhance the overall experience, making your trip more enjoyable and luxurious. Imagine waking up to a breakfast included in your stay before heading out to explore new destinations.
Evaluating the Value Proposition
When comparing the card's cost to its array of potential benefits, the American Express Platinum Card could be a smart investment for middle-income families. The key is effective use of the perks. Maximize the Uber, dining, and travel benefits, and you can more than justify the annual fee.
Moreover, the peace of mind that comes from having premium customer service and support from American Express further enhances its value. This support can be especially comforting during emergencies or when needing assistance during travels.
Final Thoughts: Is It Worth It?
Initially, the new American Express Platinum Card with its $895 annual fee may appear expensive. However, when you consider the extensive list of perks and the potential value it brings, it is evident that this card can provide significant benefits, especially for families who travel and dine out frequently.
By taking the time to enroll in the perks and carefully plan your usage throughout the year, the American Express Platinum Card could prove to be a worthwhile investment. As I continue to explore the card's benefits, I'm eager about the options it creates for my family's lifestyle—whether it's treating ourselves to a nice dinner or planning a fun family getaway.
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