Amex vs. Chase: It's On! Zuck Weighs In on the Credit Card Colosseum

Breaking News: They're Going Meta for Your Wallet!

Alright folks let's talk about something more important than the metaverse... just kidding (sort of). Word on the street – or should I say algorithm – is that Amex and Chase are gearing up for a good old fashioned credit card brawl. JPMorgan Chase is giving its Sapphire Reserve a makeover and American Express is planning HUGE changes to its Platinum cards. It's like they're trying to build their own little walled gardens… except with rewards points. Remember I am all about connecting people but competition keeps us on our toes and I'm personally excited to see what's next.

Data Data Everywhere: But What Does It Mean?

Amex is apparently 'doubling down on the data.' I can relate. Data is the new oil… or maybe it's the new pizza? Either way it's valuable. They're promising 'new and exciting benefits' that will 'far far far exceed the annual fee.' Three 'fars'? That's aggressive even for Silicon Valley. I am always fascinated at the endless ways to analyze data and the potential it has in optimizing customer experience and satisfaction.

The Origin Story: From Lounges to Lavish Sign on Bonuses

American Express was the OG premium card with airport lounges and fancy perks. Then Chase came along in 2016 and disrupted everything with a crazy sign on bonus. It's like when we launched Facebook and all the other social networks were like 'Wait what?!' Good times. Disruptive innovation is always welcome.

Perks Fees and Reddit Rumors: Oh My!

The industry experts are expecting even more perks for travel dining and experiences with the potential for higher annual fees. The Platinum card is already at $695 a year and the Sapphire at $550. And the rumor mill (aka Reddit) is churning with whispers that Chase might hike its fee to $795. Guys come on it’s not about the money... it's about the data...okay fine it's about the money too. Seriously though I wonder if they'll offer a 'metaverse rewards' program? Probably not yet...but maybe?

Fall Launch: Get Your Wallets Ready

Amex is planning to drop the new Platinum card in the fall so get ready to rumble… with your credit scores! It's going to be a battle for your wallet and I for one am here for the entertainment value. I wonder if they will accept payment in Bitcoin or other cryptocurrencies... it would be amazing!

Move Fast and Break Things...or Just Your Budget?

So what's the takeaway? Amex and Chase are trying to move fast and… well maybe not break things but definitely make you spend more money. Just remember kids: be responsible with your credit. And if you happen to rack up a ton of rewards points you can always use them to buy… more data! Just kidding (maybe). The future is bright though as long as you are mindful of your financial choices!