American Express Platinum Card Fee to Increase in 2026, Executives Address Crowding Concerns in Lounges

American Express executives have confirmed that the Platinum card's annual fee will increase in 2026. Currently at $695, it's lower than the Chase Sapphire Reserve's $795 fee. Executives also discussed overcrowding in lounges and promised more innovation, including expanding existing lounges and introducing satellite locations. The updated card details are set to be released later this year.

American Express executives have confirmed that the annual fee for the Platinum Card will increase in 2026. Currently priced at $695, the fee is lower than that of the Chase Sapphire Reserve, which stands at $795. This update comes as part of a broader strategy to enhance the card's value and services, while also addressing overcrowding issues in airport lounges.

During a recent earnings call, executives acknowledged the growing popularity of airport lounges and the need for more space. CEO Stephen Squeri noted that the company is exploring various options to manage the increased demand, including expanding existing lounges and introducing satellite locations [1]. The company is also working closely with partners like Delta to address crowding concerns.

In addition to the fee increase, American Express has announced significant enhancements to the Business Platinum Card, providing over $2,000 in potential value to U.S. cardholders through statement credits. These enhancements include newly available credits for purchases with Dell Technologies and Adobe, effective from July 1, 2025, with additional benefits expected later in the year [2].

The Platinum Card's updated details are set to be released later this year, with the company promising more innovation and expansion in its lounge offerings. The upcoming changes aim to maintain American Express's commitment to premium service and innovation, while also addressing the growing demands of its cardholders.

References:
[1] https://www.businessinsider.com/american-express-fee-refreshed-platinum-card-airport-lounges-2025-7
[2] https://www.gurufocus.com/news/2981328/american-express-increases-value-available-to-business-platinum-card-members-to-more-than-2000-more-to-come-later-this-year-axp-stock-news