When Amex refreshed their Platinum cards last month, there was largely a positive reaction to the product refresh, especially on the consumer version. In addition to the the new benefits, Amex also updated the design of the card. The new design offers a ‘mirror finish’ and Amex Platinum card holders could order one right away from the Amex website. In this post, I wrote about how I tried to order mine and failed. However, it seems like the new design has definitely done the job for Amex.
Amex Platinum Card – 500,000 requests for the new Mirror Finish Card!
During their most recent earnings call, Amex’s CEO was talking about how their product refresh was a success. You can read the entire transcript here. However, I found one number quite eye-popping. A whopping 500,000 people requested the new card with the mirror finish! Given that Amex relaunched their products on Sept 18th, 500,000 is a massive number in just a month’s time!
In addition, we continue to enhance our award-winning digital capabilities, introducing a new app experience for our U.S. Platinum members that makes it even easier to engage with the card’s benefits. As I mentioned earlier, the initial results are very strong, exceeding our expectations. For example, new Platinum account acquisitions are running at twice the level before the refresh. In the first three weeks, we saw very strong engagement in the new benefits and over 500,000 requests for the new Mira card. While the annual fee increase won’t go into effect for a few months, retention rates have been stable post-refresh.
In addition to these results, we saw record bookings through Amex Travel following the Platinum refresh and the launch of our new all-in-one travel app, which we introduced earlier in September in the U.S. Looking ahead, I’m confident about our ability to sustain our growth by continuing to build on our powerful membership platform with a growing set of high-value products, benefits, services, and experiences.
The Pundit’s Mantra
I’m not someone who’ll be swayed by the design or the weight of a card or whether it has a metallic finish or a mirror finish. When I’m getting a card or keeping one, I purely decide based on whether I like its benefits. However, based on Amex’s own data, it does seem like the new design has definitely managed a create a buzz and driven a great level of engagement with both new and existing customers.
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