AmEx Customers Still Flock to Platinum Card at $695, CFO Says

American Express Co. customers are sticking with the tony Platinum card even after the company decided to ratchet up the annual fee.

AmEx earlier this year rejiggered many of the rewards on its Platinum product -- from adding $200 in annual hotel credits to offering deals for chartering private jets -- as part of a broad revamp of the card. It also increased the annual fee to $695 from $550.