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The long rivalry between the main premium credit cards in the country is about to heat up again.
JPMorgan Chase Last week he announced that an update of his sapphire reservation, the travel and meal rewards card that went viral when he arrived in 2016, was imminent.
In response, American Express On Monday he said that “important” changes arrived at their consumers and businesses cards at the end of this year. In a nutshell, the New York -based card company said its update would be its largest investment in a card update.
“We are going to duplicate the things we know based on the data that the members of our card love,” said US consumption services. UU. Howard Grosfield of Amex in an interview. “But most importantly, we will bring a lot of new and exciting benefits and value that will far exceed the annual rate.”
American Express was a pioneer in the premium credit card space decades with cards that grouped advantages in airlines and hotels with access to their own network of high -end airports rooms. But JPMorgan shook the industry in 2016, lighting a tough competition between card issuers with a luxurious login bonus and other incentives for its sapphire card.
The expectation among industry experts is that both companies will offer increasingly long lists of advantages in trips, restaurants and experiences, while potentially increase their annual rates, such as the pattern with recent updates.
The Platinum card has an annual rate of $ 695, while the sapphire has a $ 550 rate.
In Reddit and other forums, card users distributed rumors that JPMorgan was walking through the annual sapphire product to $ 795. A JPMorgan spokesman declined to comment.
The new Platinum card will be launched in the fall, said Grosfield.
