KEY TAKEAWAYS:

AmEx Platinum Card annual fee rises to $895

New perks include $400 dining, $600 hotel credits

$300 Lululemon and $300 digital entertainment credits added

Card now features high-gloss stainless steel design

The Platinum Card is getting shinier and pricier.

American Express’ latest update to its high-end Platinum Card, unveiled Thursday, comes with a lot more perks, including a $400 credit for dining out, and a lofty annual fee of $895.

The Platinum Card refresh is just the latest from the major credit card issuers, and 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. Or pay close to $2,000 in annual fees for the privilege of carrying two or more of these premium cards.

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