If past card revamps are any indication, the annual fees on Amex Platinum and Business Platinum will almost certainly see increases as part of the planned changes. But just how high could they go?

The two cards both have steep annual fees that put them in direct competition for a spot in consumers’ wallets.

Is this the year we could see a $1,000 annual fee on a premium credit card? Possibly. American Express has confirmed changes are coming to The Platinum Card® from American Express and The Business Platinum Card® from American Express

In a bid to attract more high-spending Millennials and Gen Z-ers, American Express (NYSE: AXP) is set to roll out significant updates to its U.S. Consumer and Business Platinum Cards later this year.

Chase announced changes to its Sapphire Reserve card, boosting the annual fee to $795 a year and adding additional perks.

The Amex Platinum Card can completely cover your Disney+, Hulu, and ESPN+ bundle with its digital entertainment credit. Learn how to use it today.

Many banks offer credit cards with rotating bonus categories, like the Citi® Dividend Platinum Select® Visa® Card, which now offers 5% cash-back for Q3 2025.