American Express reports sharp profit rise after Platinum Card fee increase
What happened
American Express increased the annual fee for its Platinum Card members on October 23, 2026. The company reported a third-quarter profit of $3.71 billion, which was up 28% from the previous year. This rise was supported by nearly all customers keeping the card despite the fee increase, and net card fees rising by over $400 million compared to a year earlier.
Why it matters
The successful transition of cardmembers to a higher fee, combined with increased customer spending, drove American Express's revenue and profit growth. This ability to raise fees while maintaining customer retention strengthens the company's position in the global payments market.
Who's involved
- American ExpressThe company that raised the Platinum Card fee and reported Q3 profits.
- Berkshire HathawayHolds a substantial, long-term equity stake in American Express.
- Warren BuffettMaintains a long-term, significant investment holding in American Express.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Berkshire HathawaySpeculative
Could see increased shareholder value due to American Express's higher quarterly profits.
- Delta Air LinesSpeculative
Could benefit from increased customer spending and card usage.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Amex fee hike could boost Berkshire Hathaway's investment valueBerkshire Hathaway's stake may benefit from Amex's higher quarterly profitsLikely
- Increased travel spending may boost Airbnb's transaction volumeIncreased consumer travel spending may boost Airbnb's transaction volumePossible
- How could American Express's successful fee increase affect Visa Inc.?Amex's successful fee hike strengthens competitor in global payments marketPossible
- Amex fee hike may boost Delta Air Lines' co-branded revenueAmex fee hike may boost Delta Air Lines' co-branded revenuePossible
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The entities involved
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American Express
American multinational financial services corporation