American Express’ US Consumer and Business Platinum Cards are set to launch this fall per the bank|@AmericanExpress|X
The competition among premium credit cards is kicking in as American Express announced its biggest-ever upgrade to its consumer and business Platinum cards on Monday—just days after JPMorgan Chase revealed plans to refresh its Sapphire Reserve.
Amex’s revamped Platinum cards will launch this fall, according to Howard Grosfield, President of US Consumer Services at Amex. Meanwhile JPMorgan’s updated Sapphire Reserve is expected as soon as this week.
Though details are still under wraps, both cards are likely to boost travel, dining, and luxury perks—potentially alongside higher annual fees.
Amex’s Platinum currently costs $695, while Sapphire Reserve charges $550. Online speculation suggests JPMorgan may hike its fee to $795.
As both companies raise benefits, customers may be the ones reaping the biggest rewards—if they’re willing to pay the price.