American Express profit jumps as customers stick with the $895 Platinum Card

American Express profit jumps as customers stick with the $895 Platinum Card — Live Feedhttps://www.live-feeds.com/feed/american-express-profit-jumps-as-customers-stick-with-the-895-platinum-cardContinuously updated, source-cited coverage. American Express profit jumps as customers stick with $895 Platinum Cardhttps://www.live-feeds.com/feed/american-express-profit-jumps-as-customers-stick-with-the-895-platinum-cardhttps://www.live-feeds.com/feed/american-express-profit-jumps-as-customers-stick-with-the-895-platinum-card#u159003Wed, 28 Oct 2026 04:53:21 +0000American Express reported a sharp rise in third-quarter profits, driven by a successful transition to its higher-fee Platinum Card. The company is cutting 5% of its workforce, or about 3,500 employees, to 'prepare for AI'. Despite this, customers are sticking with the $895 Platinum Card, contributing to the profit increase.Why it mattersAmerican Express has been transitioning its members to a higher-fee Platinum Card, which has led to a significant increase in profits. The company's decision to cut its workforce is part of its efforts to reduce expenses and prepare for future gr