Premium Credit Cards Get Costlier: 3 Factors to Determine Annual Fee Worthiness

American Express has increased the annual fee for its Platinum card to $895, a 29% bump from the current $695. JPMorgan Chase also raised the fee on its Sapphire Reserve by 45% to $795. When deciding if a high-fee card is worth it, focus on airport lounges, credits for specific purchases, and travel patterns. Weigh the benefits against the costs to determine the best card for your personal needs.

American Express has increased the annual fee for its Platinum card to $895, a 29% bump from the current $695. This hike comes with new benefits, including dining credits, health-related expenses, and increased hotel credits. The new fee will take effect for existing cardholders at their next renewal date on or after December 2, 2025, for the U.S. Business Platinum card and January 2, 2026, for the U.S. Consumer Platinum card American Express hikes Platinum card annual fees to $895, unveils new benefits — Here's what cardholders will get^[1].

JPMorgan Chase has also raised the annual fee on its Sapphire Reserve card by 45% to $795. This card offers $2,700 in annual benefits, including credits for airline fees and dining. The increased fee reflects a broader trend of premium travel credit cards targeting wealthy customers with higher annual fees Premium credit cards are getting more expensive—3 ways to know if the annual fee is worth it^[2].

When deciding if a high-fee card is worth it, focus on airport lounges, credits for specific purchases, and travel patterns. Airport lounges are often one of the biggest perks of premium cards, providing access to exclusive amenities and reducing stress for frequent travelers. Credits for specific purchases can also add significant value, especially if the cardholder already shops at the affiliated retailers. Finally, consider your travel patterns to ensure that the benefits of the card align with your lifestyle Premium credit cards are getting more expensive—3 ways to know if the annual fee is worth it^[2].

Weighing the benefits against the costs is crucial when evaluating whether a high-fee card is the right choice. If the benefits outweigh the fees, the card may be a worthwhile investment. However, if the perks do not align with your spending habits or travel patterns, a lower-cost card with fewer benefits may be more suitable.