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The long -running rivalry between the country’s top premium credit card is going to be hot again.
JPMorgan Chase Last week announced that a refresh of its sapphire reserve – Travel and Dining Rewards Card which went viral When it came in 2016 – was Adjacent,
In response, American Express on Monday Said These “major” changes were coming to their consumer and business platinum card later this year. Regarding the details, the New York -based card company said that its update will be its biggest investment in refresh.
“We are going to double the things that we know based on the data that our card members like,” said the Amax President of American Consumer Services. Howard Grosfield in an interview. “But even more importantly, we will bring a full bunch of new and exciting benefits and value that will be more than far, distant, annual fee.”
The American Express pioneered the premium credit card space decades ago, bundling allowances in airlines and hotels with access to its network of high-end airport lounge. But JP Morgan shook the industry in 2016, ignited Stringent competition With a gorgeous sign-on bonus and other incentives for its sapphire card among the card issuer.
The expectation among industry experts is that the two companies will provide a long list of allowances in travel, food and experiences, while potentially increase their annual fees, as is the pattern with recent updates.
Platinum card has an $ 695 annual fee, while Neelam has a $ 550 fee.
On Reddit and other forums, card users broadcast Rumors JP Morgan was raising the annual fee on its sapphire product to $ 795. JP Morgan spokesperson refused to comment.
The new platinum card will be launched in the decline, Grosfield said.
