American Express has started sending out the letters announcing the new benefits Platinum charge cardholder get for the increased annual fee of £450.
Some of the benefits are pretty good, such as Cathay Pacific Gold status, access to Cathay Pacific and OneWorld business lounges, allowing guests into Priority Pass lounges and automatic elite tier status with various hotel and car rental programs.
So, the card does still provide some great benefits, despite the increase in the annual fee, and the bonus 42,000 Membership Reward points for applying for the card still make that fee worthwhile, even if you later cancel the card and receive a pro-rata annual fee refund. However, whether the card is worth keeping once you have the 42,000 points bonus will have to be each individuals own decision based on their circumstances.
We are still digesting the full content of the letter, an example of which is below: