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You have to spend a year’s salary to really get the most out of the new Chase Sapphire Reserve card - MarketWatch

1. Chase Sapphire Reserve's annual fee increases to $795, alarming some customers. 2. American Express Platinum's potential fee rise to $1,000 raises competitive concerns. 3. Cardholders are scrutinizing credit card perks amidst rising annual fees. 4. Many consumers may prefer existing Amex benefits over new Sapphire features. 5. Increased focus on perks could impact Amex's market position.

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Why Neutral?

The adjustments in fees and perks prompt reevaluation of premium card options but don't drastically shift market dynamics. Historically, fee increases often lead to customer turnover but also attract high spenders seeking premium benefits.

How important is it?

The article highlights competitive pricing strategies in the premium card market affecting Amex's attractiveness. The changing fee landscape could influence customer decisions in the near term.

Why Short Term?

Immediate shifts in consumer preference may arise due to fee increases and competitive offerings. However, long-term impacts will depend on strategic responses from Amex to maintain customer loyalty.

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