What metrics would you use to evaluate American Express's Platinum Card?

Introduction

Evaluating the success of American Express's Platinum Card requires a comprehensive approach to product metrics. As a premium credit card offering, its performance impacts multiple stakeholders and ties directly to AmEx's core business strategy. I'll follow a structured framework covering product context, success metrics hierarchy, and strategic implications to assess this complex financial product.

Step 1

Product Context

The American Express Platinum Card is a premium credit card offering targeted at high-income, frequent travelers. Key stakeholders include:

1. Cardholders: Seeking premium benefits and exclusive experiences
2. American Express: Aiming to drive revenue and brand prestige
3. Merchant partners: Looking for high-value customers
4. Investors: Expecting profitable growth and market share gains

User flow typically involves application, approval, card activation, and ongoing usage for purchases, rewards redemption, and accessing benefits. The Platinum Card fits into AmEx's strategy of targeting affluent consumers and competing in the premium card segment against rivals like Chase Sapphire Reserve and Citi Prestige.

The product is in the mature stage of its lifecycle, having been around for decades but continually evolving its benefits and positioning to stay competitive.