American Express reported better-than-expected earnings driven by strong demand for its revamped Platinum card, which doubled its US account acquisitions and included new perks and a higher fee. The company raised its full-year revenue and earnings guidance, with increased customer engagement and improved credit quality, despite higher expenses and competitive pressures.
The American Express Platinum Card, with an $895 annual fee, now offers over $2,800 in perks including extensive lounge access, travel credits, elite status, and bonus points, making it a valuable option for frequent travelers who can maximize its benefits, though it may not be suitable for infrequent travelers or those not utilizing its credits.
President Trump signed an executive order establishing the 'Gold Card' residency program, offering U.S. permanent residency for $1 million, with a new 'Platinum Card' option at $5 million, aiming to raise significant revenue, though its legality and demand remain uncertain.
American Express has added new quarterly and monthly credits to its Platinum and Business Platinum cards, offering up to $238 in potential savings before the end of September. New cardmembers can apply now to receive instant card numbers, enroll in benefits, and maximize credits for Lululemon, Resy, Uber, and more, while existing members should activate these benefits to ensure they receive the credits. Acting quickly can help maximize value and offset the increased annual fee.
American Express has upgraded its Platinum Card with new perks worth approximately $3,500, including a $400 dining credit, a $600 hotel credit, and other benefits, while increasing the annual fee to $895, aiming to justify the higher cost with enhanced value.
American Express is raising the annual fee for its Platinum card to $895, adding about $1,500 in potential perks such as dining credits, Lululemon spending, hotel benefits, and entertainment credits, aiming to maintain its competitive edge in the premium credit card market.
American Express announced its largest-ever investment in upgrading its Platinum credit cards, aiming to enhance travel, dining, and lifestyle benefits, with updates applicable to both US consumer and business cards, amidst rising competition in the premium credit card market.
American Express announced major updates to its Platinum cards later this year, aiming to enhance travel, dining, and lifestyle benefits, as well as card design, in response to competitive moves from JPMorgan Chase and changing consumer preferences for rewards points over cash back among premium cardholders.
American Express announced significant updates to its U.S. Consumer and Business Platinum Cards later this year, including expanded lounge access, enhanced travel and lifestyle benefits, and new curated hotel programs, reflecting its largest investment in a card refresh to meet evolving customer needs.
American Express is updating its Platinum and Business Platinum cards to attract more Gen Z customers by adding new lounges, expanded dining options, and other perks, despite the high annual fee, aiming to build long-term loyalty and grow with young consumers as their financial needs evolve.
American Express plans a significant upgrade to its Platinum card, targeting Millennials and Gen Z with enhanced benefits in entertainment, wellness, shopping, and exclusive dining experiences, aiming to attract and retain younger high-spenders and boost revenue.
