Before American Express’ earnings call American Express issued a press release that contained some interesting information regarding upcoming changes to premium credit cards.
we are adding several new benefits, services and rewards to our premium Card products and Membership Rewards program that are relevant to the evolving needs of our customers during this time
During the actual earnings call American Express revealed further information:
In addition to our financial assistance initiatives, we’ve enhanced our membership rewards programs and we’re adding new offers, benefits and rewards to our premium products that are particularly relevant for the times we’re in now. For example, since people are not currently traveling, eating out or shopping in store, we’ve adjusted our MR program to include discounts on Amazon when you pay with points, and the ability to earn double points with orders from GrubHub and Seamless through the end of the year.
We’re also adding a range of limited time offers, credits and rewards on stay-at-home services, such as wireless, streaming, grocery and food delivery for our consumer and certain co-brand card customers, as well as business essentials like wireless office equipment and shipping for our small business customers.
It looks like a number of cards will be receiving product refreshes in May:
what you’ll see coming out in early May is actual product refreshes to a number of our products, which will infuse additional value in addition to the value that a card may have.
More info:
So if you look at our platinum card where you have fine hotels and resorts and you have Uber credits and you have other travel benefits and lounges and so forth, you will see other enhancements there from wireless to streaming to maybe some other types of travel credits which can be used in the future over a time period. But I think you know what you’ll also see in the short term is card members using that and using the points.
American Express is already offering increased cash out value for American Express Platinum cardholders in Canada and U.K. I suspect any launch of a new card between Platinum & Centurion will be pushed back given COVID-19.
