News Summary

• American Express’ latest update to its high-end Platinum Card, unveiled Thursday, comes with a lot more perks.
• The Platinum Card refresh is just the latest from the major credit card issuers.
• The higher fees may put pressure on some cardholders to choose between the Platinum Card or another high-fee card like Chase’s Sapphire Reserve Card.
• In all, AmEx says the value of the perks on the new Platinum Card total roughly $3,500.“If nothing else, going to lounges and using the $600 hotel credit will essentially justify the cost each year,” said Ryan Smith, news managing editor of UpgradedPoints.