American Specific Platinum Card® has all the time stood out as some of the benefit-rich premium playing cards obtainable.
But with a sky-high annual payment and an ever-expanding suite of perks, it is simple to surprise if the cardboard is admittedly value holding yr after yr. Now, with Amex asserting a 29% annual payment hike — paired with a slate of latest life-style credit — many cardholders are asking: Is it time to cancel?
Not so quick. Between the timing of the payment improve to $895 (see charges and costs) and the quick availability of latest credit to present and new cardholders, canceling proper now may imply leaving a whole bunch of {dollars} in worth on the desk.
This is why.
Associated: Amex Platinum refresh: Greater payment, richer perks — is it value $895?
New advantages now, increased payment in 2026
Amex just lately added a collection of latest life-style assertion credit to the Amex Platinum, together with enhancements to some present ones, which might be obtainable instantly. A number of the highlights embody:
- Digital leisure assertion credit score (enhanced): Obtain as much as $25 per thirty days for eligible streaming providers like Disney+, Hulu and YouTube TV (as much as $300 yearly). This credit score is a straightforward method to offset the rising value of your favourite reveals 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 choosing up exercise gear or seasonal attire — even sale and “We Made Too A lot” gadgets 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 some of the fashionable well being wearables.
- Resy assertion credit score (new): Obtain as much as $100 per quarter at collaborating U.S. Resy-affiliated eating places (as much as $400 yearly). This credit score is an easy method to flip eating out right into a mini cash-back win.
- Uber One (new): Obtain as much as a $120 assertion credit score that absolutely 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 payment additionally obtained a refresh, leaping from $695 to $895, a transfer consistent with a broader pattern of premium card payment will increase.
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And whereas payment 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 payment 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 payment.
For instance, in case your annual payment final posted Could 15, 2025, you may have a number of months to make use of the brand new perks earlier than the up to date payment applies.
Even higher, the Platinum Card’s as much as $200 assertion credit score on pay as you go American Specific Fantastic Lodges + Resorts or The Resort Assortment bookings (two-night minimal applies) by means of American Specific Journey® has elevated to as much as $600 per calendar yr (or as much as $300 semiannually).
When you’ve already used your $200 credit score, you may obtain an extra $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 Specific Gold and Platinum
Canceling now’s leaving cash on the desk
With the brand new Amex Platinum life-style credit lively and the payment improve delayed, you can unlock greater than $1,500 in worth over a yr with out spending past your standard 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) may offset a significant portion of your outdated annual payment.
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’ll be abandoning perks that might provide vital worth.
Bear 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 (cut 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 means of December), providing you with a number of methods to maximise worth earlier than the $895 payment 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?
profit from the Platinum earlier than your subsequent anniversary date
By appearing now, you possibly can seize a whole bunch of {dollars} in worth earlier than the upper renewal value hits. This is how:
Associated: Why the brand new Amex Platinum modifications are changing me to a cardmember
Backside line
When you’re contemplating canceling your Platinum Card, now’s undoubtedly not the time.
With the brand new credit already dwell and the upper annual payment months away, you’ve the prospect to assert a whole bunch of {dollars} in worth whereas nonetheless paying the outdated annual payment. By making the most of these perks as we speak, you possibly can absolutely 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 overview of the Amex Platinum.
Apply right here: American Specific Platinum Card
For charges and costs of the Amex Platinum, click on right here.
