Latest news with #Platinum
Travel Weekly
2 days ago
- Business
- Travel Weekly
Carnival Cruise Line unveils new loyalty program: Carnival Rewards
Carnival Cruise Line will introduce a new loyalty program, Carnival Rewards, for which guests compile points based on what they spend on the cruise fare and onboard the ship. The launch date is June 1, 2026. The current program, Very Important Fun Person (VIFP), compiles points based solely on the number of nights that Carnival customers sail. Carnival president Christine Duffy said it was time for a loyalty overhaul. In a message to customers, Duffy said that from 2021 to 2024, the number of Platinum and Diamond guests doubled and tripled, respectively. She also said the average cruise on an Excel-class ship has 1,200 guests who are Platinum or Diamond status, "making it nearly impossible to provide meaningful priority benefits." "When so many guests have elite status, it is much more difficult to make everyone feel special," Duffy said. "These realities will only continue to erode the recognition and rewards of the current VIFP Club program, and we feel that change is necessary in order to better recognize our guests." Carnival said it wanted to wait almost a full year before implementing Carnival Rewards to "provide guests plenty of time to learn about the changes." Earning stars for status In the new program, guests will accumulate Carnival Rewards points that can be redeemed on Carnival purchases. Guests earn status-qualifying stars that will determine tier status. The status tiers will be the same -- Red, Gold, Platinum and Diamond -- but how guests will earn status will be different. Gold status is 10,000 stars, Platinum is 50,000 and Diamond is 100,000. Guests receive three stars for every $1 spent on Carnival purchases. Guests earn stars when they buy the cruise, shore excursions, drinks, specialty dining, spa treatments, onboard merchandise and when they gamble in the casino. Purchases on the Carnival Rewards credit card will enable guests to reach status quicker. A guest's status on June 1, 2026, will be based on status as of May 31, 2026 (for sailings that have returned as of that date). Existing status will be honored for a two-year period (except for Diamond-level guests), unless subsequent activity qualifies the guest for a higher status level. Diamond-level guests will retain their Diamond status for a 6-year period ending May 31, 2032. As long as there is activity within a three-year period, points will not expire. Status will be earned over a two-year period and retained for the following two years. No matter a guest's status, Carnival said it will "incorporate ways to recognize their achievement of various milestones, including the number of cruise days sailed." Guests will continue earning VIFP status as usual until the new program launches. Upon launch of Carnival Rewards, current cardmembers will have the balance of their Fun Points converted to Carnival Rewards points. Customers can learn more at
Yahoo
2 days ago
- Business
- Yahoo
How Chase's new Sapphire Reserve credit card compares to rivals
JPMorgan Chase (JPM) is hiking the annual fee on its Sapphire Reserve card from $550 to $795 and adding perks like new spending bonuses. Yahoo Finance Senior Credit Card Writer Ben Walker joins Wealth to break down how the revamped card compares to Chase Sapphire Preferred, American Express (AXP) Platinum, and Capital One (COF) Venture X credit cards. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Sign in to access your portfolio
New York Post
3 days ago
- Business
- New York Post
American Express has ‘major' refresh in the pipeline for its exclusive platinum cardholders
American Express has significant updates in the pipeline for its Platinum credit cards. The company's U.S. consumer and business Platinum Cards are slated to get 'major' updates 'later this year,' American Express said. Advertisement American Express executive Howard Grosfield said Monday in a statement that the company is 'going to take these Cards to the next level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers.' American Express touted the airport lounge access as well as the dining and hotel benefits that the well-known credit card already provides its Platinum cardholders, while revealing its plans to make updates. The company has offered the Consumer Platinum Card in the U.S. since 1984 and has given it various refreshes over the years. The new updates in the pipeline for American Express Consumer and Business Platinum credit cards will mark the company's 'largest investment ever in a Card refresh,' per the company. Advertisement 4 GM Photography – Those who hold the Business Platinum Card can expect 'more benefits they can use to help their companies grow' from the upcoming refresh, American Express said. American Express American Express Business Platinum Card holders already have a 'flexible spending limit that adapts based on purchase, payment and credit history, business and travel benefits, rich rewards on business expenses, virtual cards and access to cashflow management tools,' as well as dining, lounge and hotel benefits, according to the company. American Express isn't the only credit card issuer that has updates in the works for its high-end card. Advertisement 4 American Express executive Howard Grosfield said in a statement that the company is 'going to take these Cards to the next level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel, to meet the evolving needs of our customers.' GC Images JPMorgan Chase-owned Chase said on social media last week that 'rewards are about to get more rewarding' for its Chase Sapphire Reserve credit card this summer. The Chase Sapphire Reserve card first made its debut in 2016. Another social media post from Chase last week hinted at the launch of a Chase Sapphire Reserve credit card for businesses. JPMorgan Chase Advertisement The American Express Platinum Card and the Chase Sapphire Reserve Card are popular among consumers. 4 JPMorgan Chase-owned Chase said on social media last week that 'rewards are about to get more rewarding' for its Chase Sapphire Reserve credit card this summer. Christopher Sadowski 4 The American Express Platinum Card and the Chase Sapphire Reserve Card are popular among consumers. SockaGPhoto – The latter received the No. 3 spot for customer satisfaction among U.S. bank rewards credit cards that carry annual fees in a J.D. Power study released in the fall of last year. Meanwhile, the American Express Platinum Card placed one spot behind it in that category, at No. 4, according to the study.
Time of India
3 days ago
- Business
- Time of India
Sapphire Reserve: Amex, JPMorgan Chase tease major updates amid intensifying credit card battle
Sapphire Reserve, Amex rivalry Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Chase Sapphire Reserve is getting a major update and it's coming at a higher cost which includes a higher annual fee of $795. Chase is also launching the Chase Sapphire Reserve for Business card as a premium luxury business travel card, reports Bloomberg as part of an overhaul marking the biggest US bank's latest volley in the ultra-competitive world of premium credit cards JPMorgan Chase on Tuesday unveiled an update to its premium credit card, which will now carry a $795 annual fee, a 45% jump from its previous level. The development at a time when American Express teased updates coming later this year to its travel-focused Platinum credit cards, announcing what it called its 'largest investment ever' in a credit-card long-running rivalry between the country's top premium credit cards is about to heat up again. While JPMorgan Chase announced last week that a revamp of its popular Sapphire Reserve card — known for its travel and dining perks since its viral 2016 debut — is on the also is now offering complimentary subscriptions to Apple's (AAPL) Apple TV+ and Apple Music through June 22, 2027; up to $300 annually in DoorDash (DASH) credits; up to $300 annually in StubHub credits for concert and event tickets; and up to $500 annually in hotel credits for some prepaid bookings made through The Edit by Chase response, American Express revealed Monday that significant updates are planned for both its consumer and business Platinum cards later this year. Though details remain scarce, the company described the upcoming changes as its most substantial investment in a card refresh to date.'We're going to take these cards to a new level, not only in what they offer in travel, dining and lifestyle benefits, but also in how they look and feel,' Howard Grosfield, Amex's group president for US consumer services, said in a statement raised its Platinum card annual fee to $695 in July 2021, when it also added $200 in annual hotel credits. Since then, the New York-based company has faced intensifying competition for premium credit-card customers, including from JPMorgan Chase & Co.'s Sapphire Reserve card and Capital One Financial Corp.'s Venture X Rewards Express was a trailblazer in the premium credit card market, introducing cards that combined travel and hotel perks with access to its exclusive airport lounges. That dominance was challenged in 2016 when JPMorgan disrupted the space with its Sapphire card, offering a generous sign-up bonus and a range of attractive analysts expect the rivalry to intensify, with both companies likely expanding their offerings in travel, dining, and experiences—while also potentially increasing annual fees, a trend seen in recent the Amex Platinum card carries a $695 annual fee, compared to $550 for the JPMorgan Sapphire has surfaced on Reddit and other online forums that JPMorgan may raise the Sapphire's annual fee to $795, though a company spokesperson declined to address the to Grosfield, the updated Platinum card is scheduled to debut this fall.
USA Today
3 days ago
- Business
- USA Today
Would you pay $795 a year for a credit card? Chase thinks this popular card is worth it.
Would you pay $795 a year for a credit card? Chase thinks this popular card is worth it. Show Caption Hide Caption What to do if you lose your credit card while traveling Your smartphone can help if your credit card is lost or stolen. Problem Solved The Chase Sapphire Reserve annual fee will increase to $795 with new perks. New perks include expanded point earning opportunities and statement credits. The new fee applies to existing cardholders starting October 26th and new applicants starting June 23rd. The Chase Sapphire Reserve Visa, a long-time favorite of points and miles hobbyists and luxury travel aspirants, is getting an overhaul and a hefty new annual fee. Chase announced Tuesday that Sapphire Reserve cardholders will soon pay $795 a year for the privilege of using that high-end metal card. While the new fee is softened by a host of updated perks, many points and miles experts are wary that the credit card game is losing its luster. "Honestly, this is kind of a breaking point for me, but also I could see it for a lot of people. I don't see why anyone would really splurge for this card when the Sapphire Preferred exists,' Stella Shon, a senior editor at Upgraded Points, a points, miles and travel website, told USA TODAY. 'Do you really care that much about lounges? Do you really need to get to the airport hours early to get a free meal?' Cruising Altitude: Do you love airport lounges? Airlines are stepping it up for you. The Sapphire Preferred is a more budget-friendly Chase card. It has fewer perks and no lounge access, but an annual fee of just $95. The current fee on the Reserve card is $550 a year. Shon said that airport lounges remain one of the biggest value propositions offered by premium travel credit cards, but that benefit is getting diluted by higher fees and other harder-to-use perks. Among the new benefits are expanded opportunities to earn points through Chase partners and extra statement credits to help offset a portion of the higher costs. Shon also pointed out that the revamped Reserve card has sharp restrictions on how to earn and use some of its perks. For example, bonus points are only available in many spending categories on purchases made directly through Chase. According to Chase, the new fee and perks will go into effect for existing cardholders starting Oct. 26. If your membership renews before then, you'll pay the old rate for one more year. The updated fee will apply to all new applicants starting June 23. American Express, which produces the Platinum card, the Sapphire Reserve's main competitor, also announced it was planning updates of its own. The Platinum card currently comes with a $695 annual fee and a similar slate of benefits to what Chase previously offered. Amex hasn't announced details of its updates, including whether or not the fee would change. Zach Wichter is a travel reporter and writes the Cruising Altitude column for USA TODAY. He is based in New York and you can reach him at zwichter@
