The Truth About the $895 Amex Platinum (From a Family Who Keeps It)

Photo Credit: American Express

The American Express Platinum Card has always been one of the most aspirational travel cards on the market. But with the annual fee now climbing to $895, the big question many families ask is: is this still a must-have card for frequent travelers, or has Amex turned Platinum into an overpriced coupon book with perks no family actually uses? As always, I want to cut through the noise together. I’ll walk you through what’s changed, what’s actually useful, and how my own family has been using these credits in real life.

Why the Fee Jumped Again

This isn’t the first time Platinum holders have felt the pinch. In 2021, the fee jumped from $550 to $695. Now, it’s up another $200. Why?

• Competitive positioning: After Chase Sapphire Reserve raised its fee to $795, Amex wasn’t going to look “cheaper.”
• Business model shift: The Platinum is less about points earning and more about being a lifestyle membership. Amex is deliberately stacking “spending credits” to show more than $3,000 in annual value, even if most families will never use all of them.

Key facts:

• The $895 fee applies to new cardholders or those reapplying after canceling.
• Current cardholders keep the $695 fee until January 2, 2026.
• Authorized user fee is unchanged at $195.

My Quick Verdict: Don’t Cancel Just Yet

The sticker shock is real but here’s the thing: for the right lifestyle, Platinum is still worth keeping, sometimes twice over. Here is the quick math:

• $600 hotel credit (Fine Hotels & Resorts or The Hotel Collection)
• $400 Resy dining credit
• Already $1,000 in value covering the $895 fee..

Photo Credit: Resy

For current holders like me and my family, the story is even sweeter:

• If you already used the $200 airline incidental + $200 hotel credit earlier this year, your effective cost is $295.
• From September through December 2025, you can "double dip":
  • Hotel credit: $300 (Q3 & Q4)
  • Resy dining: $200 ($100 × 2)
  • Lululemon: $150 ($75 × 2)
• That’s $650 more in value this year alone, meaning most Platinum families are actually ahead by $300+.

For my family, that translates to: a prepaid weekend at a premium hotel, a couple of nice restaurant outings, and even new sportswear. All covered before we even talk about points.

 My Real Experience With the New Credits

 Amex added four new credits in 2025:

• $75 quarterly Lululemon (U.S. only, excludes outlets)
• $200 Oura Ring hardware credit
• $100 quarterly Resy dining (U.S. only)
• $120 Uber One membership

That’s $1,020 on paper, but here’s what it looked like for me and my family personally:

Resy Credit – Family Dining Made Easy

Photo Credit: American Express

This one has been incredibly easy to use. I check restaurants through UseYourCredits website and Resy’s listings to confirm they’re eligible. One of my favorite San Francisco spots is Heirloom Cafe SF. The restaurant sells their gift cards online.

I bought a gift card directly, the Amex credit posted right away. Since our family has two Platinum cards, I don’t need to juggle multiple physical gift cards. I just reload the same restaurant gift card and Amex recognizes it each time. That means my family can enjoy nice meals without worrying about whether the credits will trigger.

Photo Credit: Maria Fung

Photo Credit: Maria Fung

Lululemon Credit – Stocking Up Without Stress

While I placed an order for a few technical items online in my first order, I also tested this by ordering a physical gift card online in my second order (with my another Amex Platinum Card.) The physical gift card arrived in about five days, and the credit hit my Amex Platinum account the same day it arrived.

Important tip: don’t choose eGift cards, those don’t trigger the credit. For families like mine, this has been an easy way to stock up on activewear, whether it’s sports clothes for the kids or my own running gear, without feeling pressured to shop each quarter.

Oura Ring Credit – Test Run

Photo Credit: American Express

Brady, as posted in his social media, bought an Oura Ring, and he was still waiting for the $200 credit triggered. That said, the ring itself costs more than $200, and the monthly subscription is extra. It’s definitely a fancy lifestyle perk targeting wellness-conscious parents, but for us it feels more like a “bonus gift” from Amex rather than a must-have.

Photo Credit: Brady Yu

Hotel Credit – Where We See the Biggest Wins

.For my family, the hotel credit has always been the Platinum’s crown jewel. Before the fee hike, I used my $200 credit at JW Marriott Nara.

Photo Credit: American Express

With the new $300 half-yearly credits, I’m eyeing Munich for later this year where I’ve already booked us at a Michelin-starred restaurant, and the Autograph Collection and Rocco Forte are within walking distance. 

A lot of people think the FHR/The Hotel Collection credits are hard to use, but here’s the secret: book two nights at a The Hotel Collection property, and the $300 credit applies.

Photo Credit: American Express

Tools like MaxMyPoint make this much easier, you can filter FHR and The Hotel Collection stays by credit type and find the best options without scrolling endlessly.

Further reading: MaxMyPoint: The Ultimate Tool For Finding Hotel Award Availability 

Photo Credit: MaxMyPoint

Digital Entertainment – Quiet Wins for Families

Photo credit: American Express

The monthly credit is now $30 (up from $20). We haven’t finalized what to apply it to yet on top of Disney+ but the choices are solid: Disney+, Paramount+, New York Times, and now YouTube Premium and YouTube TV.

Photo credit: American Express

Honestly, this is one of those “hidden family perks.” For example, YouTube Premium is a lifesaver when you’ve got kids—you don’t realize how disruptive those ads are until they’re gone. National Geographic also comes with Disney+, which fits right into our family’s love of travel and learning.

The Bigger Math: Accessible vs. Theoretical Value

On paper, Platinum’s credits total $3,084.40. But no family is realistically using everything—Equinox, Saks, Walmart+, Clear, Oura… these don’t always fit. Here’s the honest split:

• High-utility (4–5 stars): ~$1,160/year

Hotel ($600), Resy ($400), Lululemon ($300), Entertainment ($300).

• Low-utility (1–3 stars): ~$1,924/year

Oura, Clear, Equinox, Saks, Walmart+, Uber One.

For most families like mine, the realistic value is $1,000–$1,500 each year. Still far ahead of the $895 fee and that’s before we talk about the travel protections, lounges, and earning power.

Final Thought: A Membership, Not Just a Card

The Amex Platinum isn’t just a credit card anymore. It’s a lifestyle membership. That’s both the opportunity and the challenge. 

• If you love dining out, booking premium hotels, and streaming content, Platinum is a subsidized way to add comfort and luxury to your family’s travel and lifestyle.
• If you don’t want to track credits or only want a “simple” travel card, Platinum will feel like an overpriced coupon book.

For our family, Platinum continues to deliver. The Resy credits fund meals we’d already enjoy, Lululemon covers our activewear, and the hotel credits elevate trips we’d take anyway. Add in entertainment and even the occasional wellness perk, and the card not only offsets its fee, it gives our family a way to stretch everyday spending into luxury experiences.

 That’s why at $895, the Platinum is still in my wallet. Because once you align your lifestyle with the credits, Platinum stops being a cost. It becomes leverage.