American Specific plans ‘largest funding ever’ in platinum bank card
Jun 16, 2025 10:56 PM IST
The Amex replace will apply to each the US shopper and enterprise Platinum playing cards, the corporate stated.
American Specific Co. teased updates coming later this 12 months to its travel-focused Platinum bank cards, asserting what it known as its “largest funding ever” in a credit-card refresh.
“We’re going to take these playing cards to a brand new stage, not solely in what they provide in journey, eating and way of life advantages, but in addition in how they feel and appear,” Howard Grosfield, Amex’s group president for US shopper companies, stated in a press release Monday.
Amex raised its Platinum card annual price to $695 in July 2021, when it additionally added $200 in annual lodge credit. Since then, the New York-based firm has confronted intensifying competitors for premium credit-card prospects, together with from JPMorgan Chase & Co.’s Sapphire Reserve card and Capital One Monetary Corp.’s Enterprise X Rewards card.
The Amex replace will apply to each the US shopper and enterprise Platinum playing cards, the corporate stated. It didn’t present extra specifics on what adjustments are coming.
Card upgrades are vital for new-card acquisition and costs to gasoline Amex’s income progress targets, Bloomberg Intelligence analyst Ben Elliott wrote in a notice to purchasers.
“Customers’ urge for food for ever-higher annual charges and sophisticated, incentive-driven rewards constructions may very well be examined if demand slows, however the formulation has pushed progress constantly for many years,” Elliott stated.
Entry to Amex’s international lounges is among the advantages linked to the Platinum card. A brand new Centurion lounge shall be opening at Tokyo’s Haneda Airport within the subsequent 12 months, Amex stated within the assertion, along with already-announced plans for brand spanking new ones in Salt Lake Metropolis and Newark, New Jersey.
