Credit card companies are facing off in a potential war to try to keep their customers – and to keep them happy. American Express Co. will be offering $200 a year in Uber rides to their customers, along with other perks, on their Platinum charge cards. They are hoping to keep their high-end customers happy and keep them away from JPMorgan Chase & Co. and Citigroup Inc.
Other perks will include access to airport lounges, special dining and entertainment choices and more. The charge rate will be raised from $450 to $550 starting March 30.
JPMorgan started off this card war when they introduced their $450 a year Chase Sapphire Reserve card with a sign-up bonus that was worth as much as $1500. It also includes $300 in annual travel credits and high credits for spending. They bank even switched to making these cards out of metal so they have a heavier and more significant feel to them.
Interestingly, the card war has helped out sites like NerdWallet.com and ThePointsGuy.com wich compare card costs and help consumers to know where the best benefits are to be found.