Investors Should Love the New American Express Platinum Card

Group 1 - American Express has announced significant updates to its U.S. Platinum cards, introducing new and expanded benefits to attract new customers and increase engagement among existing card members [1][4] - The enhanced perks are valued at over $3,500 annually, with the annual fee increased by $200 to $895, effective from September 18, 2025 [4] - The company reported a 13% year-over-year increase in card member services costs in the second quarter, driven by growth in premium card portfolios and greater use of travel-related benefits [6] Group 2 - Management anticipates that the expanded credits and benefits will accelerate new customer acquisition and increase spending among existing card members, despite the expectation of higher benefit usage raising card member services expenses [5][8] - The strategy of adding high-perceived-value perks has been successful for American Express in the past, and management feels confident in sustaining leadership in the premium space [7] - Business momentum remains solid, with management reaffirming its guidance for 2025 [8]