After JPMorgan Chase last week teased an overhaul coming to its Sapphire Reserve credit card, American Express today teased "major updates" coming to its Platinum cards.
🥊 The announcements signal an escalation in the battle for high-income customers willing to pay several hundred dollars in annual fees for perks like airport lounge access and food-delivery service memberships.
💳 Zoom in: "The expectation among industry experts is that both companies will offer ever-longer lists of perks in travel, dining and experiences, while potentially raising their annual fees, as has been the pattern with recent updates," CNBC reports.
What's next: Credit card users are likely to get a heads-up about any changes, including fee increases, before they take effect, according to The Points Guy.
💠Nathan's thought bubble: I'm getting anything-you-can-do-I-can-do-better vibes here.
