PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

Amex Comes Out Strong in the Chase for the Luxury Card Space

By Tom Nawrocki
October 17, 2025
in Analysts Coverage, Credit
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
American Express Checking Account Rewards, American Express rewards

American Express Launches a Checking Account with Big Rewards

As major issuers vie for the dominance in the premium credit card market, American Express appears to have pulled ahead, posting a standout third quarter fueled largely by its more affluent customers.

The company reported a 16% increase in Q3 profits, despite heightened competition among luxury card offerings. The average spend per Amex cardholder rose to $6,387, up 5% from a year earlier, and more members are now carrying balances on their cards.

Amex also saw a lift from higher fees. In September, it raised the annual fee on its Platinum Card from $695 to $895, while enhancing its perks and rewards program through new partnerships with Resy and Lululemon.

Following its strong Q3 results, American Express raised its full-year 2025 guidance, now projecting revenue growth between 9% and 10%.

“American Express is positioned well to leverage its recently improved credit card,” said Brian Riley, Director of Credit at Javelin Strategy & Research. “It has taken the pain out of an annual fee with an array of features that quickly offset the cost.”

Competition in the Luxury Space

Amex’s success comes even as competitors raise both the features and fees on cards targeting the affluent market. Citi entered the premium space last month with the launch of its Strata Elite card, which carries an annual fee of $595.

JPMorgan Chase also revamped its Chase Sapphire Reserve Card in June, increasing its annual fee from $550 to $795. To offset the higher cost, the company introduced a Points Boost feature, giving users the opportunity to double their points.

A Certain Cache

So far, consumers don’t seemed deterred by the rising prices. In fact, many have embraced the opportunity to showcase their upgraded perks. As part of its own refresh, Amex introduced a limited-edition mirrored version of its Platinum card. The company had expected about half a million requests by the end of the year—but it reached that milestone in just three weeks.

“Just when metal cards created a new class of customer features, Amex brings in the mirrored card that people love,” said Riley. “This illustrates how American Express addresses details well beyond the structure of the payment card. The firm has a long history of creating a certain cache with its cards, dating back to the old green card days. And it looks like high-net-worth customers are stepping up. You can see it in their volumes.”

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: American ExpressCitiCreditJPMorgan ChasePlatinum CardSapphire ReserveStrata Elite

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    Digitization and Multi-Brand Cards: Prepaid Trends. Bancorp Bank prepaid card fees, Bitpay Prepaid Card, mobile prepaid debit cards, prepaid cards for councils

    Turning a Prepaid Card into a Long-Term Relationship

    March 27, 2026
    payments fraud, faster payments fraud, financial fraud

    The Emotional Toll of Financial Fraud

    March 26, 2026
    hyperliquid

    What Hyperliquid Reveals About the Future of Trading

    March 25, 2026
    Modernizing Payments modernizaion

    Modernizing Payments: Tackling the Toughest Tech Challenges

    March 24, 2026
    fintech bank data

    The Growing Data Battle Between Banks and Fintechs

    March 23, 2026
    7 Fabulous AI Chatbot Trends for Small Business, AI chatbots in business, chatbots instant gratification millennials

    What Banking Customers Want—and Don’t Want—From Chatbots

    March 20, 2026
    credit unions crypto

    What Should Credit Unions Be Doing with Crypto?

    March 19, 2026
    agentic commerce trust

    The Fate of Agentic Commerce Hinges on an Elusive Resource: Trust

    March 18, 2026

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2026 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result