NEW YORK – American Express is increasing the annual fees on some of its most popular charge cards.
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The fee on the Gold Card will go to $160 a year, from the current $125 a year. The Premier Rewards Gold Card will now have an annual fee of $195, up from $175. The increases are effective June 1.
At the same time, American Express is increasing some of the perks on its cards, including a $100 credit for incidental airline fees such as baggage and waving foreign transactions fees while abroad for the Premier Rewards card.
AmEx has been looking for new sources of revenue since the Costco deal ended last month. Earlier this week, AmEx said it was raising interest rates on a small percentage of its credit card holders.