American Express is enhancing benefits for its Platinum and Business Platinum cards. Starting September 18th, both cards will offer $300 in Fine Hotels and Resorts (FHR) credits every six months. This is a major upgrade from the current arrangement, where the consumer Platinum card gets only a $200 annual credit and the Business Platinum card has none.
These updates come alongside other changes announced earlier, including a rise in annual fees to $895 and modifications to the Business Platinum’s 35% points rebate on premium cabin flights booked through Amex Travel. The rebate will now only apply to your selected airline. The updated terms, briefly visible on the FHR website, confirm the $300 credit every six months for both cards. This means Platinum cardholders can now enjoy $600 in hotel credits annually. Previously, the consumer Platinum card’s single $200 annual credit limited flexibility, and Business Platinum cardholders had no FHR credits.
This boost is expected to add significant value to both cards, especially for travelers who frequently book luxury hotels. The FHR program offers benefits such as room upgrades, daily breakfast, late checkout, and potential elite points and nights—making the new credits a substantial perk for premium travelers. The increase in hotel credits allows for more frequent and flexible bookings. Cardholders can now use the credits twice a year, making it easier to maximize value per stay. For Business Platinum holders, the addition of $600 in annual hotel credits is a notable enhancement to the card’s overall benefits, potentially offsetting part of the steep $895 annual fee. There is no word yet on whether the existing $50 per quarter Hilton credit for Business Platinum will remain unchanged. Cardholders will need to wait for the full list of updated benefits to understand the complete impact.
Luxury travel credits are increasingly common among high-end credit cards. American Express is competing with similar offerings from Chase, Citi, and Capital One. While the extra credits improve the Platinum cards’ appeal, some users have noted “coupon fatigue” from tracking multiple portal credits across different cards. Despite this, the move strengthens Amex’s position in the premium card market. Offering $400–$600 in annual luxury hotel credits is a meaningful perk, helping to justify the higher fees. Travelers who leverage these benefits can effectively reduce their net cost for premium hotel stays.
American Express is clearly targeting high-value travelers with this update. By increasing the FHR credits, the company provides more frequent access to luxury stays and enhances the perceived value of both Platinum cards. The change may influence consumers considering ultra-premium cards, especially those who prioritize hotel perks. While the $895 annual fee remains significant, the addition of substantial hotel credits could help offset costs for frequent travelers, making the Platinum and Business Platinum cards more competitive in the premium card market. The full effect will depend on the final list of benefits released later this year.