American Express To Increase Fees & Cut Benefits In 2026
Higher foreign exchange fees & reduced airport lounge access
American Express will make a series of changes to its Australian credit cards in 2026, and it’s likely to be unwelcome news for many cardholders.
Foreign exchange fees will increase to 3.5%, airport lounge benefits will be scaled back, and new eligibility rules for travel insurance will be introduced. On their own, these changes may seem relatively minor. But when considered together, it’s a clear reduction in card perks.
There’s no real sugar-coating it; these updates are largely weighted towards higher costs and fewer benefits. Here’s a full breakdown of what’s changing.
1. Overseas Transaction Fee Increased To 3.5%
One of the biggest changes announced by American Express is an increase in overseas transaction fees. From 5 May 2026, Amex will increase its foreign transaction fee to 3.5%, up from the current 3%.
Foreign transaction fees are charged whenever a payment is processed in a currency other than Australian Dollars. This includes purchases made overseas, as well as online shopping from international retailers. The fee is applied after the currency conversion takes place, meaning it is an additional charge rather than being built into the exchange rate itself.
The change comes as a growing number of banks, including NAB and CommBank, offer rewards credit cards with zero foreign transaction fees. Meanwhile, many American Express cards in the US and UK already waive FX fees - but for Australians, they’re about to become even higher.
How Much More Will Amex Cardholders Pay Overseas?
While this change may seem modest at first, foreign exchange fees tend to add up quite quickly. This is especially true when you’re on an overseas holiday and spending daily. Even this small 0.5% increase can snowball into a significant cost over time. Plus, any fee increase is not welcome news.
To put the change into perspective, here are a few real-world examples. Because American Express applies its FX fee to the converted AUD amount, all figures below are shown in Australian Dollars.
How To Avoid Foreign Transaction Fees
Many Australians will struggle to justify a 3.5% fee every time they tap their card overseas. While there are a handful of rewards credit cards in Australia with 0% FX fees, the most cost-effective option is usually an everyday debit card.
There’s also no shortage of dedicated “travel money” cards, but they tend to come with higher fees and awful exchange rates. In many cases, they’re marketed to inexperienced or older travellers who don’t realise they are being ripped off.
Some of our favourite fee-free cards for travel are Up, Ubank, and Revolut. They’re the simplest to use, and even offer introductory bonuses for new users, via the links below:
- Up Bank debit card - $10 free bonus
- Revolut - $15 exclusive Flight Hacks bonus
- Ubank debit card - $30 free using code C7N1TAZ
What Are The Best Travel Money Cards?
Check out our detailed guide to the best travel money cards for Australians here 👈.
This guide breaks down the most cost-effective options for international spending, as well as some of the worst options like Qantas Pay and CommBank Travel Money.
2. Centurion Lounge Access Tightened
From 8 July 2026, American Express will introduce a series of tighter access rules for Centurion Lounge access. This change impacts all Amex cards that offer Centurion Lounge access, including Platinum, Platinum Business, Explorer, and Qantas Ultimate cards.
- Guest access reduced: from two guests to one guest (Platinum cards)
- Guest eligibility tightened: guests must be on the same flight as the primary cardholder
- Layover access restricted: entry limited to within 5 hours of departure
3. Priority Pass Cut For Additional Cardholders
From 1 October 2026, American Express will remove Priority Pass lounge access for additional and employee cardholders. This change applies to the Platinum and Platinum Business cards.
Previously, both the primary cardholder and one nominated additional cardholder would receive a complimentary Priority Pass membership. That entitled them to unlimited lounge access across Priority Pass’ extensive network of 1,800+ airport lounges.
But from October, the additional cardholder will lose access to Priority Pass lounges entirely. At the same time, Amex will offer complimentary guest access alongside the primary cardmember.
4. Plaza Premium Lounge Guest Access Reduced
From 1 October 2026, American Express will also reduce Plaza Premium lounge guest access for Platinum and Platinum Business cardholders. Currently, eligible cardholders can bring two guests into Plaza Premium lounges, but under the new rules, this will be reduced to one complimentary guest per visit.
5. New Restrictions For Platinum Business Travel Insurance
From 8 July 2026, American Express will update the eligibility requirements for travel insurance on its Platinum Business Credit Card.
Under the new rules, complimentary travel insurance is only accessed when cardholders pay for their return trip using their Platinum Business Card. If the trip is booked using another card, the cover will no longer apply.
Although it removes a layer of flexibility, this change is relatively reasonable. The insurance on offer is strong, and it’s fair for American Express to require cardholders to use the card to activate the benefit.
Bottom Line: Has Amex Gone Too Far?
We value what American Express offers, particularly its strong Membership Rewards program, and are proud partners of the brand. However, these changes are clearly negative and difficult to frame in a positive light.
Typically, when sweeping updates like this are announced, there’s at least some upside for consumers. In this case, that’s largely missing, making the overall direction harder to ignore.
This benefit is available to American Express Platinum Personal, Platinum Business and Corporate Platinum Charge Card Members (“Platinum Card Members”). Eligibility and complimentary access vary by lounge and are governed by the individual lounge terms outlined below. Some airport lounge providers may require presentation of your physical Platinum Card for entry. We highly recommend travelling with your physical Card as some lounges may not accept digital Cards. American Express reserves the right to revise these rules from time to time, and may do so without prior notice, but will provide advance notice of material changes where reasonably practical. If American Express, in its sole discretion, determines that the Card Member and their guests have engaged in abuse, misuse, or gaming in connection with access to the Global Lounge Collection lounges in any way, we may cancel your American Express Account.
Primary, Additional and Employee Platinum Card Members have complimentary access to participating locations of The Centurion Lounge. Platinum Personal and Platinum Business Card Members may bring one (1) complimentary guest, and Corporate Platinum Card Members may bring up to two (2) complimentary guests into The Centurion Lounge locations in the U.S. and select international locations as set forth on the Centurion Lounge website at thecenturionlounge.com (the “Centurion Lounge Website”). Additional Gold Cards and Additional Green Cards on your Platinum Account are not eligible for complimentary access. Guest access policies (including, but not limited to, guest fees and number of complimentary guests per visit) applicable to international locations of The Centurion Lounge may vary by location and are subject to change. Visit the Centurion Lounge Website to learn more about lounge locations and guest access policies applicable to international Centurion Lounge locations. For more information specific to Australian Lounge access, visit americanexpress.com.au/airportlounge. All guests must be travelling on the same flight as the Card Member. If you have paid for additional guests and choose to visit multiple locations of The Centurion Lounge on the same day, guest fees will apply at each location. All access to The Centurion Lounge is subject to space availability. To access The Centurion Lounge, Platinum Card Members must arrive within 3 hours of their departing flight. During a layover, Card Members must arrive within 5 hours of their connecting flight. Same day round-trip itineraries are not considered connecting flights. Card Members will not be granted access to the lounge with a boarding pass for a flight that has landed at the final destination. Upon arrival at The Centurion Lounge, Platinum Card Members must present The Centurion Lounge agent with the following upon each visit: their valid Platinum Card, a boarding pass showing a confirmed reservation for a departing flight on the same day on any carrier and a government-issued I.D. Name on boarding pass must match name on the Card. Failure to present this documentation may result in access being denied. Refer to the specific location’s access policy for more information. Card Members must be at least 18 years of age to enter without a parent or legal guardian. All Centurion Lounge visitors must be of legal drinking age in the jurisdiction where the Lounge is located to consume alcoholic beverages. Please drink responsibly. American Express reserves the right to remove any person from the Lounge for inappropriate behaviour or failure to adhere to rules, including, but not limited to, conduct that is disruptive, abusive or violent. Soliciting other Card Members for access into our lounge is not permissible. Hours may vary by location and are subject to change. Amenities vary among The Centurion Lounge locations and are subject to change. Card Members will not be compensated for changes in locations, rates or policies. In addition to the complimentary services and amenities in the Lounge, certain services, products or amenities may be offered for sale. You are responsible for any purchases and/or servicing charges you make in The Centurion Lounge or authorise our Member Services Professionals to make on your behalf. Services available at the Member Services Desk are based on the type of American Express Card used to enter the Lounge. American Express will not be liable for any articles lost or stolen or damages suffered by visitors to The Centurion Lounge. If American Express, in its sole discretion, determine that you have engaged in abuse, misuse, or gaming in connection with lounge access in any way, we may remove access to The Centurion Lounge from your Platinum Account. Use of The Centurion Lounge is subject to all rules and conditions set by American Express. American Express reserves the right to revise these rules from time to time, and may do so without prior notice, but will provide advance notice of material changes where reasonably practical.
Prior to 1 October 2026, Platinum Card Members may bring up to two (2) guests into Plaza Premium Lounges.
Effective 1 October 2026, the complimentary guest allowance for Platinum Personal and Platinum Business Cards will change from two (2) guests to one (1) guest. Corporate Platinum Card Members may continue to bring up to two (2) guests.
Plaza Premium Lounge access is operated by Plaza Premium and is subject to Plaza Premium’s access rules. Plaza Premium Lounge locations, benefits and rules are subject to change. Primary, Additional and Employee Platinum Card Members have complimentary access to participating global locations of Plaza Premium Lounges. Additional Gold Cards and Additional Green Cards on your Platinum Account are not eligible for complimentary access. Card Member must present their valid Platinum Card, a confirmed boarding pass for same-day travel on any carrier and government-issued I.D. Minimum age requirements may vary by location, and in some lounges. Card Members must be 21 years of age to enter without a parent or guardian. If you have paid for additional guests and choose to visit multiple Plaza Premium lounges on the same day, guest fees will apply at each location. Card Members must adhere to all house rules of participating lounges. Card Members and their guests will receive all of the complimentary benefits and amenities afforded to the Plaza Premium Lounge customers, as well as access to purchase non-complimentary items. Some product features may be subject to additional charges.
Prior to 1 October 2026, Primary Platinum Card Members and one Additional Platinum Card Member as nominated by the Primary Card Member may enrol in the Priority Pass program.
Effective 1 October 2026, enrolment in the Priority Pass program and complimentary Priority Pass lounge access will be available only to the Primary Platinum Card Member, and all complimentary Priority Pass memberships and lounge access for Additional Card Members will end.
Priority Pass is an independent airport lounge access program. This benefit is available to Platinum Charge Card Members. You acknowledge and agree that American Express will verify your Card Account number and provide updated Card Account information to Priority Pass. Priority Pass will use this information to fulfill on the Priority Pass program and may use this information for marketing related to the program. Once enrolled, Platinum Card Members whose Card Account is not cancelled may access participating Priority Pass lounges by presenting your physical or digital Priority Pass card and airline boarding pass. If the Card Account is cancelled, you will not be eligible for Priority Pass and your enrolment will be cancelled. At any visit to a Priority Pass lounge that admits guests, Platinum Card Members may bring one (1) complimentary guest. You will be charged the prevailing retail rate for any additional guests. If you have paid for additional guests and choose to visit multiple Priority Pass lounges on the same day, guest fees will apply at each location. Some lounges do not admit guests. Minimum age requirements may vary by location, and in some lounges, Priority Pass member must be 21 years of age to enter without a parent or guardian. Priority Pass members must adhere to all house rules of participating lounges. Amenities may vary among airport lounge locations. Conference rooms, where available, may be reserved for a nominal fee. Priority Pass lounge partners and locations are subject to change. All Priority Pass members must adhere to the Priority Pass Conditions of Use, which will be sent to you with your membership package, and can be viewed at prioritypass.com. Upon receipt of your enrolment information, Priority Pass will send your Priority Pass card and membership package which you should receive within 10-14 business days. If you have not received the Priority Pass card after 14 days, please contact American Express using the number on the back of your American Express Card. To access lounges before your physical Priority Pass card arrives, call the number on the back of your Platinum Card to obtain your Priority Pass membership details. You can then activate your membership online and receive a digital membership card. For a step-by-step guide on the activation process, visit prioritypass.com/activation. If American Express, in its sole discretion, determines that the Card Member and their guests have engaged in abuse, misuse, or gaming in connection with access to the Priority Pass Lounge in any way, we may cancel your Priority Pass membership. This benefit is subject to change.
