The main reason why Amex cards are so expensive is that many American Express credit cards offer generous rewards rates and high-end perks, which warrant steep annual fees.

As of 2026, the American Express Platinum Card annual fee has risen to $895, a price point justified by Amex through a "lifestyle bundle" strategy rather than just a credit service. The fee is high because the card includes over $1,500 in potential statement credits, such as a $200 Uber credit, a $240 digital entertainment credit (for Disney+, Hulu, etc.), a $200 airline fee credit, and a $200 hotel credit. Essentially, Amex bets that you will value these specific partnerships enough to "pre-pay" for them via the fee. Additionally, the card provides the industry’s most comprehensive lounge access, including the Centurion Lounges, Delta Sky Clubs (when flying Delta), and Priority Pass. For frequent travelers, the fee also covers "soft benefits" like Marriott and Hilton Gold status, and a $189 CLEAR Plus credit. If you are a "power user" who maximizes every credit, the card effectively pays you to carry it; however, for a casual user who doesn't use Uber or stay at luxury "Fine Hotels & Resorts," the $895 fee is a steep price for a heavy metal card that offers less value than mid-tier travel cards.