The American Express Platinum credit card just got a bit more expensive. But with the heightened annual fee of $895 comes a host of new perks.

On Sept. 18, the credit card company announced upgrades to its U.S. Consumer Platinum Card and its U.S. Business Platinum Card, including statement credits towards companies like Dell and Lululemon.

New and already established card members will also be able to snag a limited-edition mirror card and use a novel mobile app to track their benefits, American Express said in a statement .

The updates come as credit scores are dropping across the country, with this year's national average FICO score dropping two points from last year's average. Credit card utilization has also ramped up from 29.6% in 2021 to 35.5% in 2025.

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