During the American Express earnings call today American Express’ CFO Christophe Le Caillec announced that they plan to complete 40 card refreshes globally this year.
In 2024, we expect to exit the year with some further momentum compared to the current growth supported by continued product innovation and our focus on premium value propositions. We currently have plans to refresh around 40 products globally next year.
Previously American Express has stated that it wants to refresh charge cards every 3-4 years. The last time the Platinum & Gold card had a major overhaul was 3-4 years ago I think we can expect those cards to be refreshed. This lines up with the Dell/Adobe and Indeed credits having a 2024 end date.
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Just got an email that delta plat has new benefits and an increase in the annual fee.
AF:
$250 -> $350
adding:
$120 resy
$120 rideshare
$150 delta stays
improved companion pass
I just got an email that my AMEX Delta Gold Business will get an increase in the annual fee from $99 to $150 effective May 1, 2024
The Delta flight credit for $10k spend goes up from $100 to $200 and a new credit for $150 for delta.com/stays
I'd imagine that emails for other cards have gone out as well for anyone that has them
If they increase the annual fee of the Platinum, this time I will be out and will cancel the card.
The real question is, will the ED/EDP get a refresh for their tenth birthday? I could also see Amex refreshing just about every other product again and these will be left in their same state. :-P
Wouldn't be surprised if they drop grocery from the Personal Gold, and replace it with a less lucrative category or two. The AF will go up, coupons less tedious and more lucrative, and the Gold + Everyday Preferred will be all the rage.
As a Gold card holder, I am tired of using $10 Uber and $10 Grubhub (or else The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar, and select Shake Shack locations) monthly credits, would like a general $20 dining credit per month instead would be nice.
With the coupon book approach, Amex likely gets millions from each participant for its co marketing agreement (uber, cheesecake factory, etc.). And then breakage from people not using the credits. For the general dining credits, it's all on amex's dime. Which is why all these "enhancements" will trend more towards the coupon book :(
Agreed. Might be in the minority, but I preferred the airline credit.
DoC @williamcharles - there is a Cloudflare check every time opening this website. Super annoying, please get it to be less aggressive. Please!
Oh, I’m not the only one! I thought it might be because I was on a really weak hotel wi-fi signal and jumping between cell and 802.11 data was giving me mixed location pings.
Site is under DDoS attack, nothing we can do.
The RAT is not pleased.
Please understand that the "premium value propositions" will be for the corporation, not the consumer.
Typo on title. He said NEXT YEAR, not this year.
Earnings calls are a quarter behind, they are referring to 2024.
The context is likely fiscal year, which would mean starting in march 2023 ending in February 2025
In their Q3 2023 earnings call they mentioned "refreshing products" as well: