American Categorical Platinum Card® has at all times stood out as one of the crucial benefit-rich premium playing cards out there.
But with a sky-high annual price and an ever-expanding suite of perks, it is easy to surprise if the cardboard is admittedly value conserving 12 months after 12 months. Now, with Amex saying a 29% annual price hike — paired with a slate of recent life-style credit — many cardholders are asking: Is it time to cancel?
Not so quick. Between the timing of the price enhance to $895 (see charges and charges) and the instant availability of recent credit to present and new cardholders, canceling proper now might imply leaving a whole lot of {dollars} in worth on the desk.
Here is why.
Associated: Amex Platinum refresh: Greater price, richer perks — is it value $895?
New advantages now, larger price in 2026
Amex lately added a collection of recent life-style assertion credit to the Amex Platinum, together with enhancements to some present ones, which can be out there instantly. Among the highlights embrace:
- Digital leisure assertion credit score (enhanced): Obtain as much as $25 monthly for eligible streaming providers like Disney+, Hulu and YouTube TV (as much as $300 yearly). This credit score is a simple solution to offset the rising price of your favourite exhibits and flicks.
- Lululemon assertion credit score (new): Obtain as much as $75 per quarter at U.S. Lululemon retail shops and on-line (excluding shops; as much as $300 yearly). This credit score is ideal for selecting up exercise gear or seasonal attire — even sale and “We Made Too A lot” objects qualify.
- Oura Ring assertion credit score (new): Obtain as much as a $200 annual Oura Ring credit score ({hardware} solely, not memberships). This credit score is nice for monitoring sleep, restoration and health with one of the crucial standard well being wearables.
- Resy assertion credit score (new): Obtain as much as $100 per quarter at taking part U.S. Resy-affiliated eating places (as much as $400 yearly). This credit score is an easy solution to flip eating out right into a mini cash-back win.
- Uber One (new): Obtain as much as a $120 assertion credit score that totally covers an auto-renewing $96 annual or $9.99 month-to-month membership. This credit score is good for rides or meals supply.
Enrollment is required for choose advantages.
The annual price additionally acquired a refresh, leaping from $695 to $895, a transfer according to a broader development of premium card price will increase.
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And whereas price will increase are by no means enjoyable, this one has a silver lining.
The brand new (and enhanced) credit can be found instantly, but the upper $895 price will not take impact till your subsequent cardmember renewal on or after Jan. 2, 2026. That creates a window to take full benefit of the brand new perks whereas nonetheless paying the earlier $695 annual price.
For instance, in case your annual price final posted Could 15, 2025, you will have a number of months to make use of the brand new perks earlier than the up to date price applies.
Even higher, the Platinum Card’s as much as $200 assertion credit score on pay as you go American Categorical Nice Accommodations + Resorts or The Lodge Assortment bookings (two-night minimal applies) by way of American Categorical Journey® has elevated to as much as $600 per calendar 12 months (or as much as $300 semiannually).
When you’ve already used your $200 credit score, you will obtain a further $300 to spend from now till Dec. 31, 2025; if not, your profit merely updates to the upper $300 quantity. Both means, you come out forward.
Enrollment is required for choose advantages.
Associated: 4 causes to carry each the American Categorical Gold and Platinum
Canceling now could be leaving cash on the desk
With the brand new Amex Platinum life-style credit energetic and the price enhance delayed, you would unlock greater than $1,500 in worth over a 12 months with out spending past your common life-style purchases.
Even simply utilizing your fourth-quarter Lululemon assertion credit score (as much as $75 in shops and on-line, excluding shops) and fourth-quarter Resy assertion credit score (as much as $100 for U.S.-based eating places) might offset a significant portion of your previous annual price.
Including in Uber money (as much as $15 month-to-month with a $20 bonus in December*), the digital leisure assertion credit score (as much as $25 month-to-month) and the Oura Ring {hardware} assertion credit score (as much as $200 yearly) makes the potential worth much more compelling.
*Uber Money will solely be deposited into one Uber account once you add the Amex Platinum as a cost methodology and redeem with any Amex card.
By canceling now, you’d be forsaking perks that would provide vital worth.
Keep in mind, these new credit stack on prime of present perks just like the as much as $200 annual airline assertion credit score for incidental charges in your chosen airline of selection and the as much as $100 Saks Fifth Avenue assertion credit score (break up into one as much as $50 assertion credit score between January and June, then one other as much as $50 assertion credit score from July by way of December), supplying you with a number of methods to maximise worth earlier than the $895 price takes impact in January 2026.
Enrollment is required for choose advantages.
Associated: My tackle the $895 Amex Platinum: Is the value hike well worth the added perks?
benefit from the Platinum earlier than your subsequent anniversary date
By performing now, you possibly can seize a whole lot of {dollars} in worth earlier than the upper renewal price hits. Here is how:
Associated: Why the brand new Amex Platinum adjustments are changing me to a cardmember
Backside line
When you’re contemplating canceling your Platinum Card, now could be undoubtedly not the time.
With the brand new credit already dwell and the upper annual price months away, you will have the possibility to say a whole lot of {dollars} in worth whereas nonetheless paying the previous annual price. By profiting from these perks right this moment, you possibly can totally leverage the cardboard earlier than your subsequent renewal, guaranteeing that once you ultimately reassess, you’ve got already captured most profit.
To be taught extra, learn our full assessment of the Amex Platinum.
Apply right here: American Categorical Platinum Card
For charges and charges of the Amex Platinum, click on right here.
