American Express is set to enhance its Platinum credit card offerings significantly.
The updates for both the US Consumer and Business Platinum Cards are anticipated to be “major” and are expected to roll out “later this year,” according to the company.
Howard Grossfield, an executive at American Express, mentioned on Monday that they’re looking to elevate these cards in terms of travel, dining, and lifestyle perks, as well as their overall aesthetic, ensuring they align with changing customer needs.
The company plans to focus on improving access to airport lounges and dining benefits, similar to what other high-tier credit cards currently offer their Platinum holders.
American Express has been providing consumer Platinum cards in the US since 1984, rolling out various updates over the years.
This latest refresh in the American Express Consumer and Business Platinum card lineup represents the company’s “biggest investment in card refresh.”
Business Platinum cardholders can look forward to receiving additional advantages that may assist in growing their businesses following the upcoming updates.
American Express
According to the company, holders of Business Platinum cards already benefit from flexible spending limits that adjust based on a range of factors, such as purchase access, payments, credit history, and business expenses, in addition to dining, lounges, and hotel perks.
American Express isn’t alone in revamping its premium credit card options.
Chase, a part of JPMorgan Chase, recently hinted on social media that their Chase Sapphire Reserve Credit Card will see even more enticing rewards this summer.
The Chase Sapphire Reserve debuted in 2016, and another recent post suggested that a business variant of this card could be on the way.
JPMorgan Chase
Both the American Express Platinum Card and the Chase Sapphire Reserve are popular choices among consumers.
A recent JD Power Study revealed that the Chase Sapphire Reserve ranked third for customer satisfaction among US bank credit cards with annual fees, while the American Express Platinum Card was just behind at fourth place.
