FACING NEW COMPETITION, AMEX POLISHES UP THE PLATINUM CARD
New York — American Express will offer holders of its Platinum Card new perks, including a $200 credit on Uber, as it faces new competition for customers who want high-end charge cards. It’s also redesigning the card — and raising the annual fee.
The company said that Platinum Card holders can earn five points per dollar on hotels. The current benefits, like the $200 airline fee credit or the 5 points per dollar spent on airlines, are staying. The fee, though, rises to $550 from $450.
The new-look Platinum Card will have the account number on the back, and will be made of stainless steel rather than plastic.
AmEx launched the Platinum Card three decades ago, but has seen more competition lately from Citi’s Prestige Card and Chase’s Sapphire Reserve Card.