American Express is raising the annual fee on its Platinum credit card to $895, from $695.The overhaul is the latest advance in the battle for affluent cardholders and the spending they rack up.🔗: https://t.co/gHypYuJvQC https://t.co/anOzFd8GMm ...

Financial Adjustments - American Express is increasing the annual fee for its Platinum credit card by $200, from $695 to $895 [1] Competitive Landscape - The fee increase reflects the ongoing competition for affluent cardholders and their spending [1]

American Express is raising the annual fee on its Platinum credit card to $895, from $695, the latest advance in the battle for affluent cardholders and the spending they rack up.Here are the details on what is now the priciest card in its segment: https://t.co/i1qEsWrVFY https://t.co/8dtcw1GGLQ ...

Investment & Shareholding - Sequoia is selling 21 million shares in the IPO and will retain a stake of more than 20% after the debut, making it the largest shareholder [1] - Sequoia first invested in the company 15 or 16 years ago [2] Company Overview & Vision - The company, initially an alternative payments company based in Sweden, has grown significantly [3] - The company's vision is to save consumers time and money, and help them have more control over their finances [4] - The company has over 100 million consumers and over 100 billion in GMBB across 26 countries [3] Growth Strategy - The two main vectors of growth are a card in every wallet and availability at every checkout [5] - The company aims to partner with big merchants like Walmart, eBay, and Airbnb, as well as major global PSPs [6] Market & Competition - The company aims to break through the credit card wall [6][7] - Gen Z sees a lot of value in using the company's services as opposed to traditional credit cards [9] - Despite its brand recognition, the company's share in fintech in the US is still small [10]

Upper-income Americans are increasingly falling behind on credit card and auto loan payments, signaling an underlying vulnerability in the US economy https://t.co/0UugNu4aWl ...