"Marketing it something Squeri knows quite a bit about-and will be relying on to sell the new card, whose annual fee will rise from the current $695 to $895. That's ahead of the $795 charge for Platinum's closest rival, the Chase Sapphire Reserve entry that got its own uplift in late June. But Squeri insists that the improved Platinum will provide the richest benefits of any widely-used card today."
""If you use the credits, you'll they'll get over $3,500 a year in value on both the consumer and business cards," he says. "At the $695 fee, that value was $1500 a year on the consumer card. People are going to do the math. They're going to say, wait a minute, you want me to pay $200 extra for over $1,000 in additional value?""
American Express will refresh the Platinum Card benefits, increasing the annual fee from $695 to $895 and positioning it above a key rival fee of $795. The refresh represents the company's largest investment in a card update. The new benefits package is designed to boost redeemable credits and perks, with projected value exceeding $3,500 per year for both consumer and business cards when credits are fully used, up from roughly $1,500 under the prior fee. The change is scheduled to be unveiled on September 18, and Amex expects many customers to view the added value as justifying the higher fee.
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]