The fee was $550 in 2020. Then it jumped to $695. Now it’s $895. That’s a 63 percent increase in five years. Meanwhile, lounges are overcrowded, travel credits are buried in fine print, and hotel upgrades are hit-or-miss. You’re paying more to fight for space and chase perks that used to be automatic.
AMERICAN EXPRESS HIKES PLATINUM CARD ANNUAL FEE TO $895, UP $200
— First Squawk (@FirstSquawk) September 18, 2025