It's important that those who believe £450 is excessive actually cancel their card there and then, explaining very clearly why they are doing so.

I'd guess that the recent years of "mass market" Amex Plat advertising campaign has significantly increased the numbers of Plat cardholders; losing even a third of the more "price sensitive" customers is probably no bad thing from Amex's perspective. It's a good way of weeding out the chaff from the big spending wheat.

Although it would have been better to have had incremental fee increases each year, we should remember that the fee hasn't increased in almost a decade, and with inflation as it is, it should have done, probably to around what is now being charged.

So I wouldn't think the fee rise inappropriate BUT for the fact that the insurance benefits have been dramatically cut, and that I don't see any personal value in the "improvements" offered.

I'm not certain the foreign transaction fee is very lucrative; I generally pay cash when overseas, but many will simply hold and alternate Amex and will continue to use that even when they resign their Plat card.

If I get it for a another year at £300 I'll stick with it, otherwise I'm out.