American Express updates Business Platinum card
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The annual fee for the Sapphire card will jump 45% to $795. Amex did not say if there would be a fee increase.
The two cards both have steep annual fees that put them in direct competition for a spot in consumers’ wallets.
Cardholders between their 20s and 40s make up 75% of Amex's new accounts acquired on its two premium cards, Platinum and Gold.
JPMorgan Chase announced Tuesday it's raising the annual fee of the popular Chase Sapphire Reserve credit card to $795.
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JPMorgan Chase revealed exciting new perks for its Sapphire Reserve card. But, American Express isn't backing down as it announces major upgrades.