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All articles tagged with #premium cards

Robinhood Bets on Premium Platinum with $695 Card, but Amex Platinum Still Sets Travel Standard
personal-finance1 month ago

Robinhood Bets on Premium Platinum with $695 Card, but Amex Platinum Still Sets Travel Standard

Robinhood launches a $695 Platinum card aimed at its investing-following customers, offering cash-back that can be reinvested and a suite of travel/dining credits; American Express Platinum remains the premium benchmark at an $895 fee with extensive travel credits, lounge access, and transferable Membership Rewards. Early reviews suggest the Amex card delivers broader value for frequent travelers, while Robinhood’s offering may appeal to existing users, but it generally falls short on travel perks compared with Amex.

via MarketWatch|
#amex-platinum#credit-cards#personal-finance
AmEx bets on ultra-premium Platinum to drive high-spender growth
business2 months ago

AmEx bets on ultra-premium Platinum to drive high-spender growth

American Express is shifting marketing dollars to its refreshed Platinum card with an $895 annual fee to attract high-spending customers, part of a broader strategy aligned with a K-shaped economy where the wealthy spend more while others pull back. The company reported 4Q results that missed consensus partly due to Platinum refresh costs, with new card accounts at 2.9 million at year-end (the lowest in five quarters). Luxury categories showed solid growth (luxury retailers +15%, business/class airfare +9%, luxury hotel +12%), while overall earnings per share came in at $3.53, a penny below expectations; shares fell about 3.5%.

via CNBC|
#american-express#business#k-shaped-economy
Rising Fees and Changing Perks in Premium Travel Credit Cards
business7 months ago

Rising Fees and Changing Perks in Premium Travel Credit Cards

Premium credit cards are becoming more expensive with higher annual fees and more complex benefits, making it harder for consumers to maximize value. Banks and airlines are targeting high-spenders with exclusive perks, but recent changes may reduce accessibility and benefits for average users, while still maintaining strong demand among affluent travelers.

via The New York Times|
#annual-fees#business#credit-cards
American Express Revenue Hits Record High Amid Strong Premium Cardholder Spending
business8 months ago

American Express Revenue Hits Record High Amid Strong Premium Cardholder Spending

American Express exceeded expectations in Q2 with $416.3 billion in billed business driven by strong spending from affluent customers, and reported a 9.3% increase in revenue to $17.9 billion. The company remains optimistic about full-year growth despite increased expenses and competitive pressures in the premium card space, and continues to invest in attracting younger customers.

via Bloomberg|
#american-express#business#consumer-spending