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Rumor: USA Personal Plat Annual Fee Increasing Q3 2021

Rumor: USA Personal Plat Annual Fee Increasing Q3 2021

Old Mar 16, 2021, 2:22 pm
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Rumor: USA Personal Plat Annual Fee Increasing Q3 2021

As the title suggests, Amex is planning on increasing annual fee on the personal Platinum in the third quarter, currently aiming for July 2021 for new applicants. Existing accounts will renew at increased rates starting in January 2022.

New fee is currently planned at $695, but also rumored at $745/795

Additionally, there will be a refresh of benefits that turn the Platinum Card "from a travel card to having more lifestyle benefits."
I wouldn't be surprised if they have a modified version or completely do away with the airline fee credit in 2022, and maybe an Equinox membership for Platinum. Though this part is purely speculation.

New benefits are also supposed to kick in in Q3, so there will be a 6 month overlap where existing cardholders can benefit at the old rates
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Old Mar 16, 2021, 4:37 pm
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Welcome to Flyertalk! Interesting first post...... As they say, "we shall see....".
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Old Mar 16, 2021, 6:07 pm
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What's new to me here is the rumor of increasing the Platinum Card fee. There have been rumors of a new card in between the Platinum and Centurion. We'll see what happens.
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Old Mar 16, 2021, 7:04 pm
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fee was 450 for a long time and wasnt it just bumped to 550 a couple years ago? hope its not true. Pandemic extras aside, the card would be hard to justify at 750
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Old Mar 16, 2021, 7:11 pm
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If it goes that high I will definitely downgrade to a blue/green/gold card. We will see...appreciate the watchout/headsup
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Old Mar 16, 2021, 7:32 pm
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The fee (as will everything) will eventually go up. I'm highly skeptical that it will go up this year. I'm also highly skeptical that they would unveil less travel-centric features at the very moment we are beginning to travel again. The time to pivot the card would have been last year in Q3 or Q4, not after the pandemic ended.
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Old Mar 16, 2021, 7:41 pm
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I can't imagine they would be foolish enough to enact such a steep increase so I'm hoping this is inaccurate, but like others have said...we shall see.
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Old Mar 16, 2021, 11:08 pm
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Personally, I doubt Amex would raise the annual fee at all this year, especially that much, given that many of the benefits of the Platinum card have been un- or less available than usual given the current situation. The last fee raise was relatively recent anyway. Guess we'll see but I wouldn't be betting money on an unfounded rumor from a first day poster. I'd suggest the title of this post be changed to Unsubstantiated Rumor: ... mia
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Old Mar 17, 2021, 5:11 am
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I would have a hard time justifying more for the plat card when it becomes a "Lifestyle" card and not a travel card. I would either dump my points or downgrade to the gold (Or if they made a new "Travel card") and be done with it

I use the lounges quite a bit before, but as I fly UA I only use them in a handful of airports, if I flew AA it might be different.
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Old Mar 17, 2021, 6:29 am
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We already pay $799 in the UK with much less benefits
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Old Mar 17, 2021, 8:23 am
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Originally Posted by Duck1981
We already pay $799 in the UK with much less benefits
Whats the attraction of the card then?
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Old Mar 17, 2021, 8:31 am
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Originally Posted by travelinmanS
What’s the attraction of the card then?
As with most things, it’s in comparison to what? The best fee free UK credit cards might get 0.25% cashback and have no benefits whatsoever.

A big benefit of the UK Platinum card is its insurance benefits which are far more comprehensive than the US Platinum card. If you are a frequent international traveler, you actually could save a bundle of money with the UK Platinum card if you’re someone who buys travel medical insurance or liability insurance for a rental car, for example.
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Old Mar 17, 2021, 8:38 am
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I could totally see AMEX doing this. The goal being to limit the card to a more select clientele, and shake out the unprofitable cardholders (i.e., benefit maximizers), while keeping fee revenue overall stable.
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Old Mar 17, 2021, 9:00 am
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Perhaps they view the Platinum card as becoming too mainstream with casual spenders who just use the card for select benefits and want to push those people to the Gold card. That would make the Platinum more exclusive and should retain the big spenders who they're really targeting with this card.
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Old Mar 17, 2021, 9:43 am
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At the very least they would need to make the Airline Fee Credit less restrictive to justify this kind of hike... it currently takes a small amount of effort to break even at $550 but an AF in the $700 - $800 range would take some effort to come out ahead or would likely be a small loss.

As with others, I am not sure how much weight we can place in this rumor but we've certainly seen rumors grow legs and come to pass (the DC Centurion plans were initially mentioned here in a similarly sketchy post)
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