American Express executives discussed the Platinum card during a recent earnings call, addressing concerns about its $695 annual fee, which remains lower than the Chase Sapphire Reserve's fees. They anticipate innovations in airport lounges to manage overcrowding and expect moderation in fee growth rates until a planned increase in 2026. The company will provide more details about a revamped Platinum card later this year. The CEO emphasized that updates are based on their schedule, not competitive pressure, while acknowledging the surge in lounge popularity and the need for expansion.
Given the previous conversations that we had about the timing of the platinum fee increase, it's only sometime in the new year, in 2026, that you should see that inflection point and a bit more acceleration.
We're trying to make the lounges bigger. I think this whole lounge game has been a boom for airport authorities.
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