Fee Increases Here For Both Platinum Cards From American Express

The Platinum Card® from American Express is now even more exclusive.

This charge card comes with luxurious perks, such as a $200 annual travel credit, complimentary airport lounge access, the red carpet treatment at over 1,300 hotels and resorts around the world and a $100 NEXUS application or renewal fee credit—but access to those privileges has become pricier.

As of September 26, 2023, the Platinum Card’s already steep annual fee went from $699 to $799 per year on your next card anniversary. It also costs more to add a supplementary Platinum Card to an account with the fee rising from $175 to $250 at the same time.

To lessen the impact of the increase in cost, American Express added a $200 annual dining credit to the card that starts the same day. To receive the credit, you’ll have to spend a minimum of $200 (at one time) at any of the eligible restaurants listed. The restaurants include famous fine dining establishments across the country, including Joe Beef in Montreal, Lee in Toronto and Blue Water Café in Vancouver. The complete list of eligible restaurants can be found here.

A one-time enrollment is required for the $200 Annual Dining Credit through Amex Offers.

However, even the $200 dining benefit doesn’t come without strings attached, as cardholders will earn fewer Membership Rewards points on dining purchases. After October 26, (giving cardholders an extra month at the previous earn rate) dining and food delivery purchases within Canada decreased from 3 points per dollar to 2 points per dollar, matching the existing earn rate for travel purchases. Meanwhile, all other purchases will still earn 1 point per dollar.