American Express Generates 16.6% Annual Returns, Platinum Fee Hiked to $895
Since early 2018, American Express has posted 16.6% average annual returns, outpacing Visa, JPMorgan and the S&P 500 under CEO Stephen Squeri’s premium-focused millennial strategy. In September, the Platinum Card fee rose from $695 to $895 and saw new acquisitions double in three weeks after adding $1,500 in annual credits.
1. Superior Returns vs. Peers
Since Stephen Squeri became CEO in early 2018, American Express has achieved a 16.6% average annual return over eight years, surpassing major banks, payment providers and benchmarks including Visa, JPMorgan and the S&P 500.
2. Platinum Card Fee Raise Drives Growth
In September, American Express increased the Platinum Card annual fee from $695 to $895 while adding roughly $1,500 in travel and lifestyle credits, resulting in a doubling of new U.S. account acquisitions within three weeks and sustained high retention.
3. Millennial and Gen Z Premium Focus
Squeri’s strategy centers on affluent millennials and Gen Z consumers willing to pay premium fees for luxury perks; he views these educated, value-seeking customers as delivering over 20 years of high lifetime value.