American Express has posted information about some upcoming changes to the American Express Platinum Card and the Business Platinum Card from American Express. Both cards will have an increase to the annual fee, as well as some changes to the included perks and benefits.
These changes are set to kick in as of September 26, 2023, which leaves just over a month to pick up either card with a lower annual fee for the first year.
Upcoming Changes to the American Express Platinum Card
The American Express Platinum Card will see a number of changes that take effect later this year.
The card’s annual fee is set to increase from $699 to $799 per year. If you currently have a Platinum Card, this fee will come into effect on your next card anniversary date after September 26, 2023.
It’ll also cost more to add a supplementary Platinum Card to your account, as the cost is rising to $250 per year from $175. Adding up to two Gold Cards to your account will continue to come at no cost, and $50 per Gold Card thereafter.
To offset the rise in the annual fee, the Platinum Card will have a $200 annual dining credit added as a perk. Note that this is in addition to the $200 annual travel credit that comes with the card.
To use the credit, you’ll have to spend at least $200 in a single transaction at one of the restaurants listed on the American Express website.
Unfortunately, the Canadian website wasn’t operational at the time of publication; however, it’s possible to access the dining credit landing page from another country, and then switch the country to Canada to see which restaurants are eligible.
The dining credit will run per calendar year, and you’ll need to initially enroll for the credit through the Amex Offers dashboard in your account. Once you’re enrolled, it’ll automatically renew for future redemption periods.
The initial enrollment period will be from September 26 – December 31, 2023, which means that you should be able to use two $200 annual dining credits within a single annual billing cycle.
Unfortunately, you won’t earn as many American Express Membership Rewards points for your dining purchases, as the earning rate on dining is set to decrease from 3 MR points per dollar spent to 2 MR points per dollar spent.
Going forward, the category earning rates on the Platinum Card will be as follows:
- Earn 2 MR points per dollar spent on dining and travel
- Earn 1 MR…