Latest news with #BenElliott
Hindustan Times
10 hours ago
- Business
- Hindustan Times
American Express plans 'largest investment ever' in platinum credit card
American Express Co. teased updates coming later this year to its travel-focused Platinum credit cards, announcing what it called its 'largest investment ever' in a credit-card refresh. 'We're going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel,' Howard Grosfield, Amex's group president for US consumer services, said in a statement Monday. Amex raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits. Since then, the New York-based company has faced intensifying competition for premium credit-card customers, including from JPMorgan Chase & Co.'s Sapphire Reserve card and Capital One Financial Corp.'s Venture X Rewards card. The Amex update will apply to both the US consumer and business Platinum cards, the company said. It didn't provide more specifics on what changes are coming. Card upgrades are critical for new-card acquisition and fees to fuel Amex's revenue growth targets, Bloomberg Intelligence analyst Ben Elliott wrote in a note to clients. 'Consumers' appetite for ever-higher annual fees and complex, incentive-driven rewards structures could be tested if demand slows, but the formula has driven growth consistently for decades,' Elliott said. Access to Amex's global lounges is one of the benefits linked to the Platinum card. A new Centurion lounge will be opening at Tokyo's Haneda Airport in the next year, Amex said in the statement, in addition to already-announced plans for new ones in Salt Lake City and Newark, New Jersey.
Bloomberg
3 days ago
- Business
- Bloomberg
BI Weekend: Warner Discovery Splits, Walmart Credit Cards
Watch Alix and Paul LIVE every day on YouTube: Hosts: Paul Sweeney and Alix Steel On this podcast: - Geetha Ranganathan, Bloomberg Intelligence Analyst on US Media, discusses Warner Brothers Discovery splitting into two independent companies. - Ben Elliott, Bloomberg Intelligence Consumer Finance Analyst, discusses Walmart 's credit cards will once again being issued by Synchrony Financial. - Sam Fazeli, Bloomberg Intelligence, Director of Research for Global Industries and Senior Pharmaceuticals Analyst, discusses the latest in the biotech space. - Scott Levine Bloomberg Intelligence Senior Energy & Industrial Services Analyst, discusses the White House's goals for nuclear energy. - Janet Lorin, Bloomberg Higher Education Finance Reporter, discusses her Bloomberg story: 'Oil Rich University of Texas Cashes In on AI, Crypto, and Power.' - Oliver Metcalfe, BNEF Head of Wind Research, discusses BNEF's outlook for offshore wind. Bloomberg Intelligence, the research arm of Bloomberg L.P., has more than 400 professionals who provide in-depth analysis on more than 2,000 companies and 135 industries while considering strategic, equity and credit perspectives. BI also provides interactive data from over 500 independent contributors. It is available exclusively for Bloomberg Terminal subscribers.
