American Express (Amex) is planning a major refresh of its flagship Platinum card.

In a news release, the company described it as the “largest investment ever” in the Platinum product line, with changes coming to both personal and business versions later this year.

“We’re going to take these cards to a new level,” said Howard Grosfield, president of U.S. consumer services at American Express. “Not only in what they offer in travel, dining, and lifestyle benefits, but also in how they look and feel.”

Big Moves For Business Builders And Jet-Setters

The refresh comes as competition among premium credit cards continues to grow. With options like Chase’s Sapphire Reserve and Capital One’s Venture X gaining popularity, American Express appears to be stepping up to stay ahead.

For cardholders who use the Platinum card to manage a busy travel schedule or handle business expenses, the new perks may make it even more worthwhile.

Here’s what the company has confirmed so far:

  • New Lounge Access: American Express will open new Centurion Lounges in Newark, Salt Lake City, and Tokyo. These lounges offer space to work, relax, or recharge between flights.
  • Expanded Dining Network: Following the acquisition of the reservation platform Tock, your Amex card now offers access to over 7,000 high-demand restaurants and event venues, building on its partnership with Resy to help cardholders secure a table when it matters most.
  • Updated Look and Feel: Although full details have yet to be released, American Express has announced that the Platinum card will receive a design refresh and new perks that reflect the interests of millennials and Gen Z cardholders.

A Card That Works Hard For You

For many professionals, the Amex Platinum card is more than a flashy metal card—it’s a practical tool. Currently, it offers over $1,400 in possible annual statement credits, including:

  • $200 in hotel credits
  • $200 airline fee credit
  • $240 digital entertainment credit
  • $155 Walmart+ credit
  • Exclusive business credits on platforms like Dell, Indeed, and Adobe (for Business Platinum cardholders)

These benefits can offset the $695 annual fee, especially for people who frequently travel or subscribe to multiple platforms for work or business purposes.

Card refreshes like this are also an important part of Amex’s long-term strategy. As Bloomberg Intelligence analyst Ben Elliott notes, “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.”