Rick Shane's questions to AMERICAN EXPRESS (AXP) leadership • Q3 2025
Question
Rick Shane inquired about the role of retention offers as the new, higher Platinum Card fees roll out, asking about the typical percentage of customers who request or take these offers and if that response rate is expected to be higher or lower this time.
Answer
Chairman and CEO Stephen Squeri explained that retention offers play a very small role in retaining the card base, with most retention driven by explaining the product's value. He believes the Platinum Card's enhanced value proposition makes it easy for customers to see its worth, and he anticipates retention offers may play an even smaller role than in the past due to the product's inherent strength and ease of benefit engagement.